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European stocks drop; eyes on ECB after Swiss move LONDON: Europe's main stock markets fell in initial deals Friday, with attention fixed on the ECB after Swiss central bank's surprise action to scrap its three year bid to stop the franc from strengthening.London's FTSE 100 index dropped 0.45 percent to 6,469.65 points compared with Thursday's close.Frankfurt's DAX 30 shed 0.47 percent to 9,985.51 points and the CAC 40 in Paris lost 0.45 percent in value to 4,303.55.Europe's main stock markets had rallied on Thursday after Switzerland's central bank cancelled a policy to stop its currency strengthening beyond 1.20 against the euro, sending the franc soaring. A cheaper euro benefits companies exporting from the eurozone, while the strengthened franc makes Swiss products more expensive for buyers abroad.Switzerland's main stocks index dropped by more than 3.0 percent at the start of trading on Friday.Focus was also firmly on the European Central Bank, which will decide on the scale of a planned ...

New Zealand forex broker shuts after Swiss franc move WELLINGTON: A New Zealand foreign exchange broker announced it was closing Friday after suffering "a total loss of operating capital" in the wake of Switzerland's shock move to scrap its currency cap.Global Brokers NZ said the Swiss move resulted in "rare volatility and illiquidity" in the markets."The majority of clients in a franc position were on the losing side and sustained losses amounting to far greater than their account equity. When a client cannot cover ...
UK's FTSE shrugs off Swiss jitters as gold miners rally LONDON: Britain's top equity index recovered from jitters caused by Switzerland's unexpected decision on Thursday to end its cap on the value of the franc, and a rise in miners and energy stocks helped lift the market. The blue-chip FTSE 100 index closed up by 1.7 percent at 6,498.78 points. The FTSE had fallen after the Swiss National Bank (SNB) decided to scrap its cap on the euro value of the Swiss franc. Dealers said ...
Sunrise says IPO to go ahead despite SNB decision ZURICH: Sunrise, Switzerland's No.2 telecoms operator behind Swisscom, said on Thursday the Swiss central bank's shock decision to scrap its three-year cap on the Swiss franc had no impact on its planned stock market flotation. On Wednesday, Sunrise laid out plans to raise around 1.35 billion Swiss francs ($1.32 billion) in an initial public offering (IPO), potentially Switzerland's biggest flotation since 2006. That was before the Swiss National Bank's (SNB) move to scrap the cap ...
Swiss shares post biggest one-day fall since 1989 on franc furore LONDON: Frantic trading after the Swiss National Bank scrapped its euro cap on the franc on Thursday drove Swiss stocks down nearly 9 percent, their biggest one-day percentage fall for at least 25 years. One trader described the central bank's move as "carnage", while Swatch Chief Executive Nick Hayek called the franc's surge in value against the euro an economic "tsunami" for Switzerland, which sells more than 40 percent of its exports to Europe. Stocks ...
European stocks rise, Swiss equities sink after SNB move LONDON: Europe's main stock markets rose Thursday but Swiss equities sank after Switzerland's central bank scrapped a policy to artificially hold down the value of its currency against the euro, sending the franc soaring.The Swiss franc, seen as a safe haven investment, soared 29 percent against the European single currency after the central bank said it was discontinuing the minimum exchange rate of 1.20 francs per euro after three years.The franc, which bought a euro ...
Europe thrown into turmoil as Swiss let franc soar LONDON: Global markets were thrown into turmoil on Thursday as a shock move by Switzerland to abandon its more than three-year-old cap on the franc sent the currency soaring and Europe's shares and bond yields tumbling.The franc jumped by almost 30 percent in a chaotic few minutes after the 1.20 per euro cap in place since late 2011 was lifted, surging past parity to trade as high as 0.8052 francs per euro.It had settled back ...


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln