Thursday, June 25, 2009

Wednesday Market Update

European shares finished the day sharply higher, up to 3 percent. Such a rise is explained to be boosted by the following factors: optimistic US information on orders for durable goods increased higher than predicted 1.8 percent, optimistic economic outlook from the OECD.
But the main factor spurring the market trades was the European Central Bank`s credit for banks almost half a trillion euros, the largest investment in its history. So banks turned to be the biggest gainers. Oil prices rose supported by fall in stockpiles of US crude and growing geopolitical conflicts in some OPEC member countries.

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