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18 Feb 2013
European markets down in slow day after G20 weekend
The German DAX 30 (+0.17%) but is alone in its quest to the upside. European markets are down in the G-20 hangover: the French CAC 40 (-0.23%), the Italian FTSE MIB (-0.77%), the Spanish IBEX 35 (0.86%). Ahead is ECB Draghi's speech at 14:30 GMT. Investors don't expect much of the rest of the day, with an empty economic calendar and US and Canada markets out of the picture, on holidays. Futures for the American S&P 500, Nasdaq 100 and Dow Jones are trading flat.
The G20 meeting didn't put a headlight at Japan and its policy intentions, but the message of not entering a "currency war" was clear. However, before the Japanese Parliament, PM Abe has already considered removing the BoJ’s independence should the central bank fail to achieve 2% inflation.
Seasonally adjusted current account in the Eurozone shows a narrower surplus from €15.9B (revised from €14.8B) to €13.9B in December, still higher than the expected €13.9B. Non-adjusted data widened from €20.8B (revised from €19.8B) to €27B, coming lower than the expected €30B.
The Bank of Spain updated its bad bank loans information, indicating an improvement from 11.4% to 10.4% in December.
The G20 meeting didn't put a headlight at Japan and its policy intentions, but the message of not entering a "currency war" was clear. However, before the Japanese Parliament, PM Abe has already considered removing the BoJ’s independence should the central bank fail to achieve 2% inflation.
Seasonally adjusted current account in the Eurozone shows a narrower surplus from €15.9B (revised from €14.8B) to €13.9B in December, still higher than the expected €13.9B. Non-adjusted data widened from €20.8B (revised from €19.8B) to €27B, coming lower than the expected €30B.
The Bank of Spain updated its bad bank loans information, indicating an improvement from 11.4% to 10.4% in December.