The President of the EP Martin Schulz interviewed on Italian radio, said he was not concerned about the hot topic of the June referendum in the United Kingdom. Schultz stated that there is a two-speed, but rather "multi-speed Europe: there are those who want to enter and those who want to quit." This has provided a cushion to talk Brexit, but the number one assembly in Strasbourg showed more concern for issues pertaining Eurozone.
The publishing group that controls the Los Angeles Times and the Chicago Tribune has rejected the offer made last week by Gannett, which publishes the newspaper USA Today. The Board of Tribune Publishing took the view that the tender offer price "undervalues the true value of the company" and therefore "it is not in the best interests of our shareholders." Gannett had made an offer of $ 12.25 per share value, recognizing a premium of 63% over the previous close.
Bearish traders attempted to prolong a correction as lower as possible yesterday, but they met a tough support in face of the weekly pivot point at 1,272.92. Considering that this demand is reinforced by the monthly pivot $20 from below, gold's bears decided not to take additional risks. The bullion's spot closed just under the 1,280 mark. Both daily and weekly aggregate technical indicators are pointing to a recovery, as there are no single signals to sell the metal. In the wake of these events, the bulls keep eyeing the 2015 peak at 1,307.06
In the auction of bonds today, Spain has placed three long-term government bonds with maturities for a total of over 2 billion euro, on the middle fork initially scheduled (1.5 - 2.5 billions). In detail the Iberian state has placed government bonds maturing in 2026 for a total amount of 489 million euro, compared to a demand of 2.0 12 billion. The coverage ratio (ratio between the amount requested and offered quantity) was equal to 4.3, while the gross yield offered by bonds was set all'1,592%, an increase over the previous all'1,496% starting April for placement securities maturing in 10 years.
The European Commission is preparing a review of the Dublin agreements on joint management of immigration by introducing a 250,000 euro fine for each refugee is not accepted by one of the EU member states, in relation to the due share. The news was revealed by the prestigious Financial Times: this would be an extreme measure to convince Poland, Hungary, Czech Republic, Slovakia and Austria to accept refugees, contrary to the address indicated by the respective governments.
Crude oil prices marks a surge in European trade on Thursday, as a result of a fire that broke out in Canada that has stopped production of the raw material in the country. A huge fire, which forced 88,000 people to leave the city of Fort McMurray, in the western part of the country, is threatening the airport and the countries south of the city, as reported yesterday by the authorities.
The economic recovery in the eurozone continues, thanks to the support measures offered by the ECB, but foreign demand is weak confirms, following the persistence of the international crisis, and the restrictive budgetary policies of the member states act as a brake to the stimuli offered. It ''s the point of the monthly bulletin published by the Institute of Frankfurt. According to the Eurotower, the increase in employment guaranteed by the structural reforms and the low price of oil will continue to support household income and thus private consumption. The labor market continues to offer signs of improvement, even if gradually, which led to a 0.3% dell'occupaizone growth in the last quarter of 2015 and a reduction in the unemployment rate to 10.3%.
The ECB has decided to stop the production of the 500-euro note, if the issue will stop "around the end of 2018". This was announced by the central bank, talking about "concerns that this note could facilitate illegal activities." "The 500 euro banknote - the ECB precise - will always retain its value and can be exchanged at the Eurosystem central banks for an unlimited period of time."
The Spanish oil company Repsol reported a decline in net profit in the first quarter by 43 percent to 434 million euro, compared with 761 million euro in the same quarter of the previous year. Adjusted net income in the quarter was 572 million euro, compared to the same period a year ago. The Bloomberg consensus was for just 261 million. Respol had closed 0.37% decline in the Wednesday session in Madrid. Last month it cut its proposed dividend to € 0.30 per share, from an originally proposed € 0.50.
Argentina is still in recession, despite the great strides made by the new government Macri to reactivate growth. According to Moody's, GDP will contract by 1.5% this year, given the ongoing growth of unemployment and inflation that remains above 30%. The agency provides that in Buenos Aires the new policy will not begin to have an effect before next year. The Moody's report comes as a result of Argentina's return on the capital market, after an absence of 15 years.
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