Grants in Europe ended Friday down vast majority despite good U.S. data. Thus, the Paris Bourse HUT showed a 1% due to a higher level in nearly two years in oil prices. The Frankfurt Stock Exchange has lost less ground but fell for the same reasons to 7187.90 points.
On the economic front, besides the U.S. employment figures with a decline in unemployment to 8.9%, it is the industrial orders that have attracted the attention up more than expected in January. Thus, the increase was 3.1% against an increase of only 1.4% in December. It's the largest increase since September 2006.
In Europe, the news was dominated by turning on the negative outlook of the sovereign rating of Spain by the rating agency Fitch. It is likely that other U.S. agencies followed suit. Following this announcement, the European single currency has reduced its earnings.
Finally, Chancellor Angela Merkel called for the establishment by the end of March a series of anti-crisis credible, considering that a possible rate hike by the ECB in April should not change the strategy of EU countries. Moreover, the German leader also called for strengthening the stability pact in the euro zone to avoid a new crisis of sovereign debt in the future.
On the economic front, besides the U.S. employment figures with a decline in unemployment to 8.9%, it is the industrial orders that have attracted the attention up more than expected in January. Thus, the increase was 3.1% against an increase of only 1.4% in December. It's the largest increase since September 2006.
In Europe, the news was dominated by turning on the negative outlook of the sovereign rating of Spain by the rating agency Fitch. It is likely that other U.S. agencies followed suit. Following this announcement, the European single currency has reduced its earnings.
Finally, Chancellor Angela Merkel called for the establishment by the end of March a series of anti-crisis credible, considering that a possible rate hike by the ECB in April should not change the strategy of EU countries. Moreover, the German leader also called for strengthening the stability pact in the euro zone to avoid a new crisis of sovereign debt in the future.
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