DAILY

24th February 2014

PSI20: +1.10% DAX30: +0.54% FTSE100: +0.41% S&P500: +0.62% NIKKEI225: -0.19%
The PSI20 Index rose 1.10% to 7 307.70 points, reaching new highs since July 2011. The PSI20 closed highe, boosted by the gains of the financial sector (BES climbed 0.71% and BPI rose 2.52%), and index heavyweights PT (+0.77%) and EDP (+1.07%) advanced, despite the drop of J.Martins (-1.0%). More >> The Portuguese Government Debt Agency (IGCP) announced on Monday it will repurchase some Portuguese Government bonds maturing in 2014 and 2015 from investors at next Thursdays auction. The Portuguese Treasury intends to reduce its debt repayment obligations on those maturities. More >> European stocks advanced to a six-year high as companies from Scania AB to Dixons Retail Plc rallied amid heightened mergers-and-acquisitions activity, outweighing a drop in HSBC (HSBA) Holdings Plc which posted worse-than-estimated profit. More >> German business confidence improved more-than-expected this month to hit the highest level since July 2011, industry data showed on Monday. The German research institute, Ifo said its Business Climate Index rose to 111.3 in February, above forecasts for 110.6 and up from a reading of 110.6 in January. More >>

U.S. stocks rallied on Monday, lifting the S&P 500 to a intraday record and briefly clearing its 2014 loss, as investors embraced activity on the M&A front and continued to disregard lackluster economic data as largely due to winter weather. More >> Money-transfer company Western Union Co is being probed by the Federal Trade Commission and a U.S. district court over fraud-induced money transfers, the company said in a regulatory filing on Monday. The FCT is requesting documents regarding consumer complaints since February 21. More >>

Asian stocks slipped, after the benchmark regional gauge posted two straight weekly gains, as Chinas central bank signaled the nations economy can sustain growth of 7% to 8%. More >> New home price growth in Chinas first-tier cities slowed in January after local governments implemented property measures to rein in escalating values and banks tightened lending. More >> Industrial production in Taiwan fell less-than-expected last month, official data showed on Monday. Taiwanese Industrial Production fell to a seasonally adjusted annual rate of -1.78%. More >>

GOLD ($1335.80/oz t; +0.88%): Gold prices posted solid gains on Monday after a data out of the Chinese housing sector fueled concerns that the global economy still battles headwinds that will prompt the Federal Reserve to very gradually taper its monetary stimulus programs. More >> NATURAL GAS ($4.728/Mmbtu; -8.07%): Natural gas futures dropped on Monday after updated weather-forecasting models called for a return of milder temperatures across the eastern U.S. after a blast of cold air moves out. More >>

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