International Report

The FTSEurofirst 300 rose 0.8% to close at 1,035.56 points. The Dow Jones industrial average dropped 0.09%, to close at 10,396.76. The Standard & Poor’s 500 Index boosted up 0.04%, to close at 1,118.79. The Nasdaq Composite Index dropped 0.11 points to close at 2,280.68. The Nikkei gained 31.30 points to close at 10,253.14, while the Topix gained 0.3% to close at 905.65.

Yesterday, after talks between Greek Prime Minister George Papandreou and the French president, the Eurozone is preparing a thorough crackdown on London-based market speculators that “abuse” credit default swaps. Papandreou stated that France, Germany and Eurogroup chairman Jean-Claude Juncker, would unveil new measures in the coming days. At the weekend China’s central bank chief discussed planning for an appreciation of the renminbi, he stated that the current dollar peg was temporary. This is the strongest hint yet from China that it would abandon the unofficial dollar peg, which it has held in place since 2008.

Due for release today is the CHF Retail Sales y/y and also the CAD Housing Starts.

by Greg Secker

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