Economic News

WARSAW (AFX) - European Internal Market Commissioner Charlie McCreevy said Thursday that he was "deeply concerned" by attacks on the independence of the Polish central bank. The National Bank of Poland has been targeted with new legislation from the centre-right government in Poland that would strip it of some of its powers, and its president, Leszek Balcerowic, has been subjected to po ...

(Updates with full report) PARIS (AFX) - Share prices closed lower, retreating from early gains after a series of US data rekindled uncertainties about the outlook for the world's largest economy, though Lagardere bucked the trend, posting first-half earnings that were better than expected, dealers said. The CAC-40 index finished down 14.08 points at 5,123.85, on volume of 4.2 bln eur. Among CA ...

Simon Lambert, This is Money14 September 2006 THE traditional August lull failed to deter homebuyers who sent prices rising at the swiftest rate since May 2004. BOOMING MARKET: House prices rose at the fastest level since May 2004 said surveyors WANT TO KNOW MORE? REPORT: First-time buyers in record debt DEAL FINDER: Search for a better mortgage GUIDES: Buying and selling advice OTHER STORIES First-time buyers in record debt UK homes too dear says £130k footbal ...

LONDON (AFX) - EURO ZONE Euro zone inflation is likely to be confirmed at 2.3 pct in August, providing that there are no significant revisions to provisional data from Germany, Italy and Spain, economists said. Inflation has eased from 2.4 pct in July and 2.5 pct in May and June. "The fall (in August) was, we think, due to a lower contribution to inflation from energy more than countera ...

U.S. stocks were under modest pressure Thursday morning, weighed down by a combination of data showing unexpected inflation from imports and downgrades of blue chips General Electric and Boeing. The Dow Jones Industrial Average (DJI) fell 27 points to 11,515. The S&P 500 (SPX) dropped 2 points to 1,315 as the Nasdaq Composite (RIXF) declined 3 points to 2,224. On Wednesday, the Dow in ...

The dollar traded little changed against the euro and the yen early Thursday, bouncing off session lows after government reports showed slightly firmer-than-expected retails sales, stronger import prices and jobless claims at their lowest level since July. U.S. retail sales inched ahead by 0.2% in August, boosted by a surprising gain in auto sales that offset the drag from lower gasoline prices ...

Treasury prices gave up gains to trade flat early Thursday after the Commerce Department announced an unexpected increase in monthly retail sales. The benchmark 10-year Treasury note last was down 1/32 at 100-27/32, with a yield (TNX) of 4.762%, little changed from its closing level on Wednesday. Prices and yields move in opposite directions. The 2-year note was unchanged at 100-4/32 with a  ...

LONDON (AFX) - The dollar stayed little changed after news that US retail sales slowed only moderately, as markets remained cautious ahead of key US inflation figures tomorrow afternoon. The Swiss franc fell back amid doubts whether the fourth quarter will bring another rate hike. It fell to all time lows against the euro and to its lowest since April 2004 against the pound. The pound, meanwhile, ...

(Updating with comment on Swiss franc's ongoing weakness) ZURICH (AFX) - The Swiss National Bank's (SNB) decision to raise interest rates by a further 25 basis points was widely expected and a further hike at its meeting in December looks likely, economists said. "The rate hike by 25 basis points did not come as a surprise," UBS economist Hanspeter Hausherr said, adding he didn't expec ...

LONDON (AFX) - A set of sturdy retail sales data capped a strong week for UK economic indicators, putting a November rate hike pretty much on the cards. Early signs that the Bank of England's unexpected rate hike early August has not dampened retail sales or indeed house prices were greeted as confirmation that borrowing costs are set to increase. But there was some caution too, as the effects of ...