Oil slipped from a six-month high above $60 a barrel on Tuesday along with other commodities and stock markets as data showed U.S. housing starts fell to a record low in April, tempering hopes of economic stablisation. U.S. crude oil for June lost ground shortly after the release of the housing data, having hit a
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British retailer Marks & Spencer said it was hopeful the downturn in its markets had bottomed out as it reported a 40 percent slide in full-year profits and cut its dividend by a third to conserve cash. "I'm not into 'green shoots' mode but… maybe this is a plateau at the bottom," said Executive Chairman
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Stocks fell at the open on Tuesday after data showed new U.S. housing starts and permits unexpectedly slid to record lows last month, tempering hopes of economic stabilization. The data suggested demand for new construction remained relatively weak as the housing downturn persists and foreclosures mount. The Dow Jones industrial average (.DJI) slipped 12.11 points,
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New U.S. housing starts and permits unexpectedly fell to record lows in April, a government report showed on Tuesday, denting hopes that stability in the housing market was imminent. The Commerce Department said housing starts fell 12.8 percent to a seasonally adjusted annual rate of 458,000 units, the lowest on records dating back to January
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European shares were higher on Tuesday on optimism that the financial sector was coming out of its worst crisis since the 1930s but gains were scaled back on data showing U.S. housing starts fell to a record low in April. At 1334 GMT, the FTSEurofirst 300 index of top European shares was up 0.8 percent
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Investor sentiment in Germany has risen to the highest level in nearly three years, data showed on Tuesday, reflecting the views of policymakers who have said the global economy may recover by the end of the year. The rise in the ZEW economic institute's sentiment indicator for May, which forecasts conditions six months ahead, comes
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Stock index futures pointed to a higher open on Wall Street on Tuesday, with the, and the up 0.2-0.4 percent, as investors await U.S. housing data. European stocks rose by mid morning on Tuesday, gaining ground for the fourth straight session, propelled by surging banking stocks with the (.FTSE), (.GDAXI) and the (.FCHI) up 1-2.1
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The Cyprus Employers and Industrialists Federation (OEV) has put forward a series of measures to help deal with the global economic crisis. The Federation advocates a conservative policy on salaries and prices, which requires a commitment by the trade unions not to claim salary increases in the next couple of years and at the same
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Oil rose to a fresh six month high above $60 a barrel on Tuesday as unrest in key producer Nigeria and a U.S. refinery outage kindled concerns over oil fundamentals after weeks of equity-led rallies. U.S. crude for June struck $60.48 a barrel, the highest level since mid-November, and it was trading $1.02 up at
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British consumer price inflation fell more than expected in April to its lowest level in more than a year in April because of the declining cost of food and energy, official data showed on Tuesday. The Office for National Statistics said consumer prices rose by 0.2 percent on the month, bringing the annual rate down
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