DAILY

12th September 2013

PSI20: +0.53% DAX30: -0.02% FTSE100: +0.01% S&P500: -0.34% NIKKEI225: -0.26%
Credit Suisse anticipated new risks for Portuguese stability due to the expected new expense cuts and the possibility of additional financial aid. More>> The Ministers Council approved a 10% cut of public service pensions above 600 per month, with estimated savings of 1,1B per year. More>> PSI20 reached its highest level since May 28. Rumors of possible mergers in the European telecom sector helped Portuguese telecom companies becoming the best performers of the day. More>> Europe took a significant step forward in its ambitions to create a single banking framework for the euro zone after EU lawmakers granted new powers to the ECB to oversee the currency bloc's banks. More>> The European Commission plans to ban all incoming call charges while travelling in another EU country from 1 July 2014, affecting telcos profit margins. More>> French President Francois Hollande has revealed his 10-uear road map for the country, a plan focused on new technologies and robots in particular More>>

Stocks closed near their lows after crawling along the flatline for most of the session, as investors paused after the recent market run-up and ahead of the Federal Reserve's policy-setting meeting. More>> Jobless claims fell sharply last week, slipping 31,000, but much due to technical problems in claims processing, clouding the last major reading of labor market health before a Fed meeting. More>> The dollar softened against most major currencies, after market participants bet the Fed will keep overall policy loose at a meeting next week even if it tapers its monthly asset-purchasing program. More>>

Australia recorded its first back-to-back jobs decline in more than two years, sending the local currency lower and underscoring the challenge for Prime Minister-elect to boost the nations economy. More>> The Philippines held its benchmark rate at a record low as easing inflation gave policy makers room to support Southeast Asias fastest-growing major economy. More>> Indian industrial production (INPIINDY) unexpectedly rose in July, bolstering new central bank Governor Raghuram Rajans fight against a slumping rupee and slowing economic growth. More>>

OIL (WTI 108.62 $/bl; +0.89% / Brent 111.86 $/bl; +0.18%): Oil rose amid uncertainty over whether efforts between the U.S. and Russia will reduce the likelihood of a military strike against Syria. More>> GOLD (1327.10 $/oz t -2.76%): Gold prices dropped after investors took up positions on expectations that the Fed next week will announce plans to begin tapering its monthly asset-purchasing program. More>> NATURAL GAS (3.635 $/MMBtu; +2.25%): Natural gas prices shot up after official U.S. inventory data revealed the country's stockpiles rose less than expected last week. More >>

DISCLAIMER: Daily Briefs contains a summary of financial news covered on conventional news services around the world. Daily Briefs coverage of subjects is based on th whims of its volunteer contributors. FEP Finance Club is not responsible for any imprecision or error in the content of any news.