European Finance

The Government of Germany approved the package again to reduce the deficit in the budget. This happens by reducing costs and introducing some new taxes. The intention headed by Angela Merkel’s government has cost the state to be reduced by 82 billion over the next four years. The main part of this will come from [...]

European indexes closed Monday with a slight decrease after the split with the profits from the morning hours when the refusal of Genzyme Corp. be acquired by Sanofi-Aventis – Story somewhat balanced by data stronger than expected consumption in the U.S. Stoxx Europe 600 ended unchanged on 251 points, losing only 0.03% after the morning [...]

In the second quarter of this year the Polish economy grew at a faster pace than expected. From April to June the country’s GDP rose by 3.5 percent annually. Most economists expect growth of 3.2 percent after the economy grew by 3 percent in the first three months of the year. “Restoration of the Polish [...]

After Slovakia’s refusal to support the general plan of the eurozone countries to save Greece, now the second country of the European Union does the same. This is Czech Republic, whose prime minister announced that the program does not approve the credit of the Greek government. Prime Minister of the Czech Republic Nechas Peter declared [...]

The European stocks rose today after yesterday reached 5-week minimum, thanks to positive corporate reports and better-than-expected data on U.S. labor market. Shares of French bank Credit Agricole rose 2.7 percent after reported stronger than forecast profits. Shares of cosmetics giant L’Oreal did jumped 3.9 percent after it became clear that its profits rose by [...]

The Stock Exchange debut of Serbian oil company Naftna Industrija Srbije (NIS) of the Belgrade Stock Exchange at the end of this month will show whether the capital market in the country can regain interest from investors after shares traded is shrugged at their lowest levels for the past ten years. According to financial analysts [...]

Romania automotive production can be increased by nearly 75 percent by 2014, a study by international consultancy firm PricewaterhouseCoopers. The production of cars in the country may reach 520 thousand units in 2014, ie nearly 75 per cent more than last year, which would mean the third fastest rate of growth in Central and Eastern [...]

The shares of the Old Continent fell to one-month bottom in today’s session after disappointing data on U.S. housing market strengthened concerns about the pace of recovery of the largest economy in the world. Data today showed that sales of existing homes fell more than expected to 27.2 percent on a monthly and 25.5% yoy [...]

Standard & Poor’s decided to lower the credit rating of debt to Ireland. As a reason for high costs are raised to support the financial system and the instability of banks. The rating of the Irish government bonds has AA-, which is one level below the previous estimate. The outlook to the rating, however, is [...]

The financial policy of Turkey, which increases the budget deficit and current account deficits, may threaten the solvency of the country, warned credit rating agency Standard & Poor’s. The warning was made against a background of growing concern among investors on major plans for the Ankara government expenditure before the elections, which will probably be [...]