DAILY

12th February 2014

PSI20: -0.41% DAX30: +0.65% FTSE100: +0.04% S&P500: -0.03% NIKKEI225: +0.56%
The PSI20 Index dropped 0.41% to 6 985.42 points, in contrast with the Europeans trend. The Portuguese Stock Index closed lower on Wednesday, as the energy sector (EDP lost 1.44% and GALP slid 1.45%) and the telecoms slid (PT declined 1.30%, SONAECOM fell 0.12%, and ZONOPT unchanged). More >> The Prime Minister of Portugal, Passos Coelho, said that the Portuguese structural deficit, the public deficit after excluding the effects of the economic cycle on the overall public deficit, in 2013 was above but close to 3%. This figure was lower than the comparable values for Spain and Ireland. More >> European stocks climbed on Wednesday, extending their brisk week-long rally, with banking stocks leading the gainers after better-than-forecast results fed hopes of rising dividends in the sector. The STOXX Europe 600 Index advanced 0.8 percent to 332 at the close of trading. More >> Euro zone industrial output fell more than expected in December, data showed on Wednesday, but probably not by enough to have stopped economic growth from picking up slightly in the last three months of the year. More >>

U.S. stocks were mixed on Wednesday, with Procter & Gamble's reduced earnings outlook weighing on Dow industrials and S&P little changed after its largest four-day rise in more than a year. More >> Treasury 10-year notes fell for a second day before the U.S. auctions $24 billion of the securities as the Federal Reserve plans to keep reducing its monthly bond purchases. More >> The U.S. federal budget balance fell less-than-expected last month, official data showed on Wednesday. In a report, Department of the Treasury said that it fell to a seasonally adjusted -10.4B. More >>

Stocks in Asia climbed, Australias dollar strengthened to its highest in a month and commodities rallied after Chinese trade data exceeded estimates. More >> Chinas export and import growth unexpectedly accelerated in January, defying signs the worlds second largest economy will slow while fueling speculation that fake shipments are resurfacing. More >> Japan's core machinery orders suffered a steep drop in December and companies expect more declines in the January-March quarter. More >>

SUGAR ($15.88/lb; +2.85%): Sugar prices soared amid driest January since 1954 which seared crops in Brazil, the top sugar producer. More >> NATURAL GAS ($4.814/Mmbtu; -3.51): Natural gas retreated on speculation that a winter storm in the East this week will give way to milder weather that will reduce demand for the heating fuel. More >> GOLD ($1291.70/oz t; +0.38%): Gold extended its 2014 rally, climbing to a three-month high as speculation that U.S. stimulus will continue boosted the appeal of alternative assets. More >>

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