DAILY

17th September 2013

PSI20: -1.37% DAX30: -0.19% FTSE100: -0.80% S&P500: +0.42% NIKKEI225: -0.65%
IMF defended that countries in financial distress, such as Portugal, should have a speed limit to readjust. The international organization stated that, given the magnitude of the budget disequilibrium, the measures should not be focused on the short-term, as the economic impact would be dramatic. More >> PSI 20 fell, driven by the bad performance of Jernimo Martins and Galp, which fell 3.45% and 2.48%, respectively. The performance of the latter derived from the sale of 3.5 million shares of the Portuguese company by an institutional investors and the decrease of oil price. More >> European stocks declined from a five-year high as investors sold holdings in companies from Lloyds Banking Group Plc (LLOY) to Continental AG. More>> European car sales fell 4.9 percent last month, with the UK alone posting strong growth of 10 percent, the Association of European Carmakers said on Tuesday. More>> Fund managers' allocations to euro zone equities have hit pre-crisis levels, amid a rapid shift in sentiment towards the region, according to a survey by Bank of America Merrill Lynch. More>>

Stocks closed higher, with the Dow and S&P 500 finishing in positive territory for the third-straight session, as Federal Reserve policymakers kicked off their two-day meeting. More>> U.S. Treasury International Capital increased for the first time in six months in July, as foreign demand for U.S. assets strengthened. More>> Microsoft (+0.39%) announced a new $40 billion stock buyback plan and increased its dividend 22%, seeking to reward shareholders as the company undergoes a change in strategy and leadership. More>>

Chinas stocks fell the most in two months after foreign investment data trailed economists estimates and money-market rates rose before the start of holidays this week. More>> Japan is on course for its longest run of trade deficits, effectively marking the end of the nation's decades-long reliance on exports from the likes of electronics giant Sony and automaker Toyota. More>> The Indonesian rupiah, which has fallen drastically over the past few months, prompting the Indonesian central bank to take aggressive action to halt the currency's fall, has developed a parabolic trend.More>>

OIL (WTI 104.73 $/bl; -0.59% / Brent 107.77 $/bl; -1.88%) and GOLD (1310.3 $/oz t; -0.20%): Oil and gold prices fell as investors bet the Federal Reserve will conclude a two-day meeting on Wednesday announcing plans to taper its monthly bond-buying program. More on Oil>> More on Gold>> COCOA (2617.50 $/ton; -0.81%): Cocoa dropped from a one-year high on speculation of investor sales to profit from this years best-performing commodity. This performance resulted from the dismal prospects for the next crop due to the prolonged absence of sufficient rainfall in West Africa. 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.