{"id":39940,"date":"2013-07-11T03:38:29","date_gmt":"2013-07-11T07:38:29","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=39940"},"modified":"2013-07-11T03:38:29","modified_gmt":"2013-07-11T07:38:29","slug":"europe-shares-falls-italys-credit-rating-lowers","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/07\/11\/europe-shares-falls-italys-credit-rating-lowers\/","title":{"rendered":"Europe Shares falls; Italy\u2019s credit rating lowers"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

Europe shares\u00a0 fell\u00a0 on Wednesday\u00a0 as\u00a0 the Standard & Poor\u2019s lowered Italy\u2019s rating\u00a0 to BBB\u2019 , because of the predicted weakening of the economic prospects .<\/p>\n

The EuroStoxx 50 dropped 0.27% to 2,657.00, while the French CAC 40 lost 0.16% to 3,844.60. The UK FTSE 100 gained 0.10% to 6,519.30, while in Germany the DAX index fell 0.19% to 8,042.50.<\/span><\/p>\n

With predictions of the Italian economy heading towards another quarter of high unemployment and contraction, the Prime Minister Enrico Letta suspended a property tax payment.<\/p>\n

\u201cThe rating action reflects our view of a further worsening of Italy\u2019s economic prospects coming on top of a decade of real growth averaging minus 0.04 percent,\u201d S&P said. \u201cThe low growth stems in large part from rigidities in Italy\u2019s labor and product markets.\u201d<\/p>\n

Italy\u2019s Gross Domestic Product (GDP) is predicted to edge down from its previous estimated fall of 1.4% to 1.9%, according to S&P.<\/p>\n

Meanwhile, the International Monetary Fund (IMF) lowered its prediction for the global growth from 3.3% to 3.1, and changed its outlook for Europe prediction of 0.4% to 0.6%, according to reports released.<\/p>\n

In Germany, the Consumer prices rose by 0.1% in June, with continuous rising every month since May when it rose 0.4%. Annually the prices increased by 1.8%, according to reports released by the Federal Statistical Office.<\/p>\n

In France, the industrial production fell by 0.4% month-to-month since May, compared to previous month\u2019s growth of 2.2%, according to the National Institute for Statistics and Economic Studies.<\/p>\n

With Italy still struggling with the economy, Italy\u2019s industrial production rose by 0.1% in May, according to data from the National Institute for Statistics.<\/p>\n

Italy is expected to auction the treasury bills with a target of 9.5 billion euros.<\/p>\n

The post Europe Shares falls; Italy\u2019s credit rating lowers<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog Europe shares\u00a0 fell\u00a0 on Wednesday\u00a0 as\u00a0 the Standard & Poor\u2019s lowered Italy\u2019s rating\u00a0 to BBB\u2019 , because of the predicted weakening of the economic prospects . The EuroStoxx 50 dropped 0.27% to 2,657.00, while the French CAC 40 lost 0.16% to 3,844.60. The UK FTSE 100 gained 0.10% to 6,519.30, … <\/p>\n

Continue reading “Europe Shares falls; Italy\u2019s credit rating lowers”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-39940","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=39940"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/39940\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=39940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=39940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=39940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}