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Index Quote Change Change% Local
Russia 515.22 -36.81 -6.67% 15:56
London 3994.63 -39.50 -0.98% 12:42
Paris 2860.49 -14.74 -0.51% 13:42
Frankfurt 4171.40 -45.20 -1.07% 13:42
Turkey 23544.44 -363.11 -1.52% 14:57
Hungary 10313.65 -854.26 -7.65% 13:42
Austria 1444.44 -35.61 -2.41% 13:42
Poland 20949.35 -324.93 -1.53% 13:41
Czech 612.70 -38.80 -5.96% 13:36
EUR-USD 1.2587 0.0004 0.03% 07:53
GBP-USD 1.4210 -0.0028 -0.20% 07:53
USD-CHF 1.1754 0.0060 0.51% 07:53
USD-RUB 36.2750 -0.0728 -0.20% 07:53
USD-HUF 243.5150 -1.6050 -0.65% 07:53
USD-TRY 1.6980 -0.0151 -0.88% 07:53
USD-ZAR 10.2190 -0.0484 -0.47% 07:53
USD-ILS 4.1540 0.0180 0.43% 07:53
USD-MAD 8.7625 0.0292 0.33% 07:52
USD-JPY 92.7690 0.3640 0.39% 07:53
USD-CNY 6.8380 0.0020 0.03% 06:59
USD-HKD 7.7548 0.0004 0.00% 07:53
USD-TWD 34.6400 0.0600 0.17% 07:43
USD-KRW 1482.1000 19.1000 1.31% 07:23
USD-THB 35.3470 0.0675 0.19% 07:35
USD-SGD 1.5297 -0.0001 -0.01% 07:53
USD-PHP 47.6800 -0.1450 -0.30% 07:05
USD-MYR 3.6600 0.0050 0.14% 06:59
USD-IDR 12050.0000 150.0000 1.26% 06:59
USD-INR 49.9250 0.2750 0.55% 07:04
The ratings company issued a stark warning to bond investors exposed to the region's banks. In a nutshell, demographic demands (Europe's population is ageing fast, its birth rate is plunging and its retirement benefits are increasing) have pushed the European project ever-Eastward, bringing Poland, Hungary and the Czech and Slovenia Republics into the fold four years ago, with Bulgaria and Romania following in 2007.
With enlargement has, of course, come economic and monetary expansion; Europe's banks have lent billions to lift the region's prospects, lifting foreign currency debt-to-GDP ratios from an aggregate 30 percent in 2000 to a current 47 percent.
Currency declines, according to Credit Suisse, could take that figure to 65 percent. Put another way: the region’s on the hook for $1 trillion -- a fifth of it due for refinancing this year.
That might be a task too far when emerging Europe is expected to contract by as much as 10 percent and currencies like the Polish Zloty (down 15 percent against the Euro) and the Czech Koruna (down 13 percent) continue to free-fall. Add to that the fact that the US Treasury is set to flog $2 trillion in paper at the same time.
So, what’s left? Gold, that's what. Central and Eastern Europe are sitting atop 730 metric tonnes of bullion, with a current market value of $259 billion. The IMF needs member approval to shift it 400-plus tonnes and Western European banks have cut a deal to limit sales until next year.
They'd have to be tempted: commodity prices are sitting at 6-year lows while Gold's climb continues apace. At $1,000 an ounce, the price spread, and the lure of hard currency, might be too much to resist.
Europe:
Index Quote Change Change% Local
Russia 524.26 -27.77 -5.03% 02:18
London 4006.83 -27.30 -0.68% 16:35
Paris 2874.07 -1.16 -0.04% 18:30
Frankfurt 4204.96 -11.64 -0.28% 18:36
Hungary 10353.40 -814.51 -7.29% 16:36
Austria 1481.37 1.32 0.09% 17:36
Poland 21320.83 46.55 0.22% 16:40
Czech 628.50 -23.00 -3.53% 17:40
DJIA 7,547.59 -5.01 -0.07% 13:47
Sydney
Market hours (local time)
9:00 AM - 3:00 PM.
Australia's geographical location is ideally placed time zone wise to maintain the continuity of the spot gold market after New York traders go home and before the Asian traders wake up. Sydney opens up just after the NY market closes and is still open when the Hong Kong market opens.
Feb. 18 (Bloomberg) -- Germany and France may be forced to contemplate the bailout of entire nations rather than just individual banks as European government budgets buckle under the weight of recession.
In the year 2013 civilization has all but destroyed itself. After a war that decimated the government and most of the population of the United States (possibly the world) people struggle to survive against starvation and rogue groups of armed men. One such group is called the Holnists. This group is bigger than any other and their leader, General Bethlehem, has delusions of ruling the country. A drifter is captured by the group and forced to join. He escapes at the first chance and happens on a mail jeep with a skeleton in it. The skeleton is wearing a postal uniform and the drifter takes it to keep him warm. He also finds a mailbag and starts conning people with old letters. The hope he sees in the people he delivers to changes his plans and he decides that he must help bring the Holnists down.
As of last trade Dow Jones Industrial Average (DJIJI) traded at 7,509, 0.80% above its 52-week low of 7,449, set on November 21, 2008.
Index Quote Change Change% Local
Russia 549.21 24.95 4.76% 02:19
London 4018.37 11.54 0.29% 16:46
Paris 2872.60 -1.47 -0.05% 18:33
Frankfurt 4215.21 10.25 0.24% 18:36
Turkey 24439.91 595.19 2.50% 17:06
Hungary 10650.32 296.92 2.87% 16:36
Austria 1512.94 31.57 2.13% 17:35
Poland 22199.49 878.66 4.12% 16:40
Czech 657.00 28.50 4.54% 17:40
Sweden 662.45 9.20 1.41% 17:48
Finland 4770.76 -99.10 -2.04% 18:31
Norway 199.52 2.03 1.03% 17:25
Greece 1615.06 25.88 1.63% 17:19
Italy 13466.00 -48.00 -0.35% 17:51
Luxembourg 889.12 7.44 0.84% 17:40
Netherlands 237.67 -0.63 -0.26% 18:33
Iceland 293.76 -1.78 -0.60% 16:40
Denmark 258.98 0.68 0.26% 17:21
Switzerland 4990.52 35.05 0.71% 17:31
Spain 832.29 1.15 0.14% 17:37
Portugal 2042.28 -1.47 -0.07% 17:38
Ireland 2170.08 -3.80 -0.17% 17:10
US latest (DJIA)
United States 7527.91 -27.72 -0.37% 13:44