The World Bank has cut its forecast for world economic growth this year to 2.4 from 2.9 percent last. As a reason they called on Wednesday, among other things, a continued weakness in commodity markets, weak demand in the industrialized countries and lower capital flows. For the euro zone now a slightly smaller growth of 1.6 percent is expected. Even in the United States, it should be as low as 1.9 percent. (Reuters)
China suffers from weak international trade
The Chinese exports are surprisingly fell sharply due to weak global demand. Exports fell in May compared with the previous year by 4.1 percent, as the customs authorities said on Wednesday. Analysts polled by Reuters only a drop of 3.6 percent expected.
At the same time, imports shrank considerably less than predicted. They fell only 0.4 percent, which is as little as since November 2014 no longer, the first month of declining imports. Some expected higher commodity prices play a role. However, domestic demand is likely to have grown thanks to the stimulus packages. Experts had predicted a decline of six percent.
The World Bank says China growth of 6.7 percent expected. That would be the smallest gain since a quarter century. The Chinese central bank expects 6.8 percent growth. Attractive investment should thereby make up the damper on foreign trade. (Reuters)
Japan’s economy is growing in the first quarter by 1.9 percent
Japan’s economy has grown significantly for years start. The Gross Domestic Product (GDP) in the first quarter put annualized expected by 1.9 percent, as showed the final data presented on Wednesday the government. This corresponded exactly to expectations surveyed by Reuters experts. The preliminary estimate had shown 1.7 percent. (Reuters)
consumer credit up in America surprisingly weak
In the United States, the volume of consumer credit has risen surprisingly little in April. Compared with the lending had increased by 13.4 billion dollars announced the Fed on Tuesday in Washington with. Economists had expected on average, with an increase of 18.0 billion dollars. (: $ 29.7 billion previously) increased in the preceding month loan volume was revised to $ 28.4 billion. (AFX)
Strong Yen weighs on Tokyo Stock Exchange
A strong yen has weighed the stock exchanges in Tokyo on Wednesday. Experts explained, given the uncertainty about a possible exit of Britain from the EU, many traders would hold back in the coming days.
The 225 values comprehensive Nikkei index was over 0.3 percent lower at 16,620 points , The broader Topix index fell 0.4 percent and stood at 1335 points. Among individual stocks, Toyota shares were nearly 0.7 percent in the red.
One euro was $ 1.1368 to $ 1.1356 evaluated in late New York trading. The dollar was at 106.83 yen after 107.33 yen traded in the United States. The Swiss franc was quoted at Euro with 1.0966 and the dollar with 0.9642. (Reuters)
German market changes rules for MDAX, SDAX and TecDAX
The German stock market has revised its rules on the composition of the indices MDAX, SDAX and TecDAX. From September 2016, the selection process of the company will be automated purely quantitative and completely in the indices, the exchange operator said on Tuesday night. The process will thus be aligned with those already applicable rules of the DAX index. In addition, will the role of the Working Committee for Equity Indices, which advises the German Stock Exchange with respect to the selection indices, redefined. The Panel will indeed continue to make recommendations with regard to rules changes, the actual composition of the indices is, however, excluded from this in the future.
The new index composition is in the future every 3rd Trading Day of March, June, September, December and will be announced after 22.00, the meetings of the working Committee for equity indices place two days after the publication of the changes in the indices instead. The next date for the scheduled rule-based review of the composition of the equity indices of Deutsche Börse is 5 September 2016. (Reuters)
Betting booming despite the lack of licenses
The European Football Championship is the boom driving additionally in sports betting in Germany to assess the consulting company gold Media. The stakes are expected to rise this year to about 5.1 billion euros, as evidenced by a recent study on the gambling market in Germany. “We assume that the German sports betting provider generate solely by the Euro 2016 additional wagers totaling around 150 million euros,” said Gold Media manager Klaus Goldhammer. The sports betting market thus show unimpressed by the failed concessions to sports betting provider. The reason is that none of the private sports betting provider has not received an official nationwide license for Germany. (AFX)
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