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Greece, agreed to sell two banks as part of an effort to appease its international lenders and consolidate its beleaguered banking sector, says the Hellenic Financial Stability Fund has chosen Eurobank (the fourth largest lender) to buy New Hellenic Postbank. The irony: The rescue vehicle owns 100% of Postbank and 93.6% of Eurobank meaning that, ...

Daily targets-signals Short Euro at 1.3089 stop loss at 1.3124 Long euro at 1.3036, stop loss at 1.3002

The dollar fell versus the Japanese yen and Asia stocks jumped. The dollar tumbled after the Bank of Japan lifted its assessment of the economy, but cut growth and inflation views. The dollar had already been pushed lower after Federal Reserve Chairman Ben Bernanke said the central bank won’t be ...

Greece: New unemployment record at 26.9% in April Unemployed increase by almost 195,000 more in one year from April 2012 – Employed declined by approximately 160,000 The unemployment rate in Greece rose to even higher levels, highlighting in the most vivid way that this problem, at least for now, is ...

Oil producers and mining firms posted solid gains in London on Thursday on an increase in commodity prices, while Associated British Foods PLC rallied after a well-received trading update. The FTSE 100 index (FTI:UK:UKX) rose 1% to 6,572.05, on track for its highest closing level since June 4.

Gold for August delivery (CNS:GCQ3) climbed $39.40, or 3.2%, to $1,286.60 an ounce in electronic trade. The signal that the Fed will likely maintain an accommodative policy stance boosted gold prices, as quantitative easing by the Fed and other central banks worldwide has been seen as supporting a rally in ...

Eurogroup president opposed to new haircut on Greek debt Eurogroup chief Jeroen Dijsselbloem expressed his strong opposition to a possible new haircut on the Greek debt. Speaking to five European newspapers Dijsselbloem said that “Greece will repay the loans it has received” and that the deletion of the Greek debt, ...

Brent crude steadied around three-month highs on Thursday, supported by expectations the Federal Reserve will keep its stimulus programme to aid the U.S. economy, while a sharp decline in crude inventories lifted U.S. oil to near 16-month peaks.

Unemployment in the crisis-stricken euro bloc rose to 12.2% for April, according to Eurostat, the statistics office of the EU. At 24.4%, youth unemployment was double the wider jobless rate and up from 24.3% in March. The problem was most extreme in Greece where almost two-thirds of those under-25 are ...

Spain’s banking crisis wiped out billions of euros of family savings on Tuesday as small investors who bought shares in the nationalised Bankia were finally able to trade them – but at only a fifth of their original price. The wipeout on Madrid’s stock exchange means that Bankia, which was ...