DAILY

4th September 2013

PSI20: +0.21% DAX30: +0.19% FTSE100: +0.10% S&P500: +0.81% NIKKEI225: +0.54%
Moodys states that the Portuguese rating, Ba3 with negative outlook, reflects the significant probability that the country will need further support, after the end of the current program. More>> PSI 20 rose by 0.21%, following the trend of the remaining European stock markets, after Eurostat confirmed the expansion signals of these economies. More>> Portugal dropped two places in the World Competitiveness Report 2013-2014, due to financing access, fiscal policy, bureaucracy and political instability. More>> Euro zone business activity in August was at its strongest level since June 2011, offering hope that the region is on its way to a sustainable recovery. More>> Ryanair's stock price tumbled after it announced that it may miss its full year profit guidance and will cut its winter capacity. The Irish budget airline's share price dropped by as much as 14.9 percent. More>> Spain's service sector grew in August for the first time since June 2011, in the latest sign the beleaguered economy may emerge from a two-year recession in the third quarter. More>>

Stocks closed on positive field, with the Dow logging its biggest gain in over a month, following the Fed's upbeat Beige Book report and as the White House pressed its case for military action in Syria. More>> According the Fed, conditions continued to improve in the U.S. over the past quarter, suggesting that the

economy is reaching the point where monetary easing can be pulled back. More>>
The U.S. trade deficit widened slightly more than expected in July as exports dipped, but a rebound in imports pointed to some firming in underlying demand early in the third quarter. More>>

China Merchants Bank Co. raised 27.5 billion yuan ($4.5 billion) in the Shanghai portion of a rights offer, paving the way for it to complete the worlds third-largest share sale this year. More>> Raghuram Rajan becomes Indias central bank chief this week and the respected economist is expected to come under immediate pressure to restore confidence in the countrys battered currency. More>> Australias economy unexpectedly accelerated last quarter, providing a tailwind for the winner of this weeks election and sending the nations currency higher. More>>

OIL (WTI 107.37 $/bl; -0.93% / Brent 115.03 $/bl; -0.58%) and Gold (1393.50 $/oz t; -1.25%): Oil and gold prices fell on Wednesday as the prospect of an imminent U.S. attack on Syria began to fade. More on Oil>> More on Gold>> COPPER (3.253 $/lb; -1.54%): Copper futures were lower on Wednesday, as ongoing uncertainty over the timing of the Federal Reserves widely expected reduction in monthly bond purchases prompted investors to take profit on recent gains. More >>

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