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November 4, 2008
by Peter Charalambous
Over the last month, Swiss inflation has fallen as it has mirrored the drop in the price of oil.
The average Swiss family is likely to still see increases in consumer prices during this quarter even though there has been a 55 percent fall in the price of oil and energy costs.
Most importantly it is consumer prices that are likely to drop according to ...
by Peter Charalambous
Political unrest in the Ukraine has meant that the currency has now lost value and parliament had to take emergency action last week in order to pass legislation that agreed terms with the International Monetary Fund (IMF) for help to the tune of $16.5 billion.
As the nation’s currency is tumbling and debt standing at $100 billion as a current liability, both ...
November 3, 2008
by Peter Charalambous
Analysts have put blame squarely on the European Central Bank (ECB) and their last ditch attempts to save the European financial system.
Jean-Claude Trichet has announced that they are now planning to extend the European Central Bank's powers which may result in the fastest interest rate cutting procedure in the bank’s lifetime, as the euro zone and its neighbours are struggling to overcome ...
by Elaine Frei
European equities markets were higher Monday after the London Interbank Office Rate, or Libor, the rate banks charge each other for 3-month loans in US dollars, fell 17 basis points to 2.86 percent and as investors seemed to ignore reports out of the UK and US showing that manufacturing activity was down in both nations in October.
In the UK, an ...
October 31, 2008
by Peter Charalambous
German unemployment has defied the current economic gloom and has fallen by more than economists’ prediction of a 10,000 reduction during this month.
Following the fall in September by 29,000, it has fallen another 26,000 this month to 3.151 million according to the statistics released yesterday by the German Federal Labour Office.
It was predicted that unemployment would drop as the German labour market ...
October 30, 2008
by Elaine Frei
European equities markets were up Thursday after interest rate cuts in the US, China and Taiwan and on encouraging earnings reports in the region.
In London the FTSE 100 added 1.16 percent to 4,291.65 while the FTSE 250 gained 3.92 percent to 6,223.78 as banks and miners saw gains and insurer Old Mutual (LSE: OML; JSE: OLOML) led the 100 with a ...
by Peter Charalambous
For a fifth consecutive month, European retail sales are falling and the slide has been the steepest since 2004 as shown in the figures of the Bloomberg Retail Purchasing Managers Index.
Analysts and economists alike have labelled the current world financial crisis as the worst since the great depression, and with Europe’s economy flirting with recession it is no wonder that the ...
by Peter Charalambous
With the index of consumer sentiment down 7.1 points to 80.4, the European Commission report that has been released today, shows how the current economic crisis has brought confidence down to a 15-year low.
Companies are finding it increasingly difficult to access funding and with recession looming, the outlook does look bleak.
The EU survey has revealed that the Dutch have ...
by Peter Charalambous
Hungary and the International Monetary Fund (IMF), World Bank and the European Union (EU) have announced the details of a rescue plan, with the Eastern European country securing a 20 billion-euro ($25.5 billion) package.
The IMF will lead the way by lending 12.5 billion euros, the EU entered with 6.5 billion and the World Bank made up the rest. ...
October 29, 2008
by Elaine Frei
Most European equities markets were significantly higher Wednesday, with commodities-related shares, banks and insurers all higher.
The FTSE 100 added 7.14 percent to 4,343.54 in London while the FTSE 250 was up 5.09 percent to 5,989.11 on the session.
Among the biggest winners on the day in London were insurers, as Prudential (LSE: PRU; NYSE: PUK) added 18.93 percent, Aviva (LSE: AV) ...
by Peter Charalambous
The beleaguered Spanish mortgage market has continued to take a battering this week after the Spanish Housing Association announced that the number of mortgage transactions has continued to fall.
The number of house transactions in August fell by 36 percent compared to last year, which signalled that the situation is getting worse.
Spain’s initial housing boom a decade ago meant that the ...
by Peter Charalambous
Inflation in Europe’s largest economy, Germany, has settled with a slow reduction likely in this quarter, which will mean it is going to be easier for the European Central Bank to lower interest rates further to stimulate the euro zone economy.
In the month of September, inflation in one German state has fallen down to 2.7 percent from 3.1 ...
October 28, 2008
by Peter Charalambous
The Hungarian government, similar to its Ukrainian and Icelandic counterparts, have struggled with the effective implementation of introducing tighter fiscal measures and have applied to the International Monetary Fund (IMF) for a loan as part of an economic rescue package.
The currency has fallen by almost 20 percent in the last month alone and that has caused investors to become very nervous as ...
October 27, 2008
by Peter Charalambous
The International Monetary Fund (IMF) has been an active player in dealing with the global financial crisis following its recent bailout of the Icelandic financial system.
The Ukraine is now the latest beneficiary as in a matter of days, following Iceland’s $2.1 billion bailout, the International Monetary Fund has announced a $16.5 billion loan to the Ukraine, in a bid to ...
by Peter Charalambous
Following the continuation of the financial market crisis and inflationary pressure, the next European Central Bank (ECB) policy meeting is being held on 6th November and the ECB President, Jean-Claude Trichet, has indicated that rates may be cut further.
Around the world, stock markets have continued to fall with the Dow Jones Stoxx 600 index down 47 percent ...
by Peter Charalambous
Following week-long talks with the International Monetary Fund, Iceland have secured their emergency bailout to the tune of $2.1 billion as both the foreign exchange market and the banking system have collapsed.
Iceland have already called on the 200 million euros that was made available to them by the central bank of Norway, although further swap deals with Norway and fellow Nordic neighbours, Denmark, ...
by Peter Charalambous
The euro zone is entering worrying times as during the second quarter, the economy shrank by 0.2 percent even though figures from the third quarter have not yet been released.
During this week, stocks have been tumbling as the euro has also lost value. This situation has been made worse by the fact that several companies have announced warning ...
October 24, 2008
by Elaine Frei
Equities markets in Europe saw declines Friday as investors were concerned about earnings amid a worsening global economy.
The region’s oil sector saw declines as crude oil prices dropped despite the decision by OPEC to cut oil production, with French oil company Total (Euronext: FP; NYSE: TOT) down 3.6 percent while Royal Dutch Shell’s (LSE: RDS A, RDS ...
by Peter Charalambous
Unlike its neighbours, Sweden and the majority of Europe’s Central banks, Denmark‘s Nationalbank has suddenly increased interest rates by half a percent to 5.5 as the country flirts with recession.
The aim is to protect the Krone against the euro as it has fallen by 0.1 percent in the last week.
Having decided to stay outside the euro-zone, Denmark has closely followed the ...
by Peter Charalambous
Following the latest figures from research institute, ISAE‘s business confidence index, Italian business confidence is now at a 15-year low this month as the index dropped to 77.7 from 81.8 in September.
This drop was far sharper than economists had predicted as consumer confidence and consumer spending are at a decade low, as the financial crisis has caused a gloomier than ...
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