Cyrrus (Cyrrus)
Markets  |  October 19, 2012 17:05:09

The summit marked by Union Bank


Today ended a two-day summit. The main topic was the introduction of Union Bank, in which the position would be the regulator of all banks in the EZ parachuted ECB. We can say that it has been reached. French pushed towards introducing, the Germans were pushing to suspend the contrary. The proposal to create should be introduced by the end of this year. Should be implemented on the first First 2014th Smaller banks will come under the management of local authorities. It was thus a compromise on the demand of the Germans, who wanted smaller banks out of the plan completely removed. On the contrary, failed to enforce the proposal of the German Finance Minister Schaeuble called for the introduction ofbudget commissioner who would directly speak to the budgets of individual countries. The summit also discussed Greece, which was praised for efforts to meet existing commitments. French President Hollande urged to next tranche for Greece was paid as soon as possible after the report threes.

Yesterday after the close of U.S. markets, we saw the results of technology companies Google and Microsoft. Neither company did not please investors. Google fell short of expectations, both in sales and in net profit. Shares so after publication responded to 8% decline. Now, are traded on the value of $ 698.7 (+0.5%). Similarly, Microsoft has not fulfilled the expectations of the two main indicators and the closure of the U.S. market went up 2% in the red values. Even Microsoft troubled slumping PC market, which is reflected in poorer sales. Today reported results as well as companies such as McDonald's, GE and Honeywell.Only the last-mentioned company was able to get through to report positive numbers. Balance of other investors were disappointing.

After yesterday's very cautious trading, investors decided today to realizing short-term gains. This is why today DAX index traded throughout the day in the red, currently at 7380 points (-0.8%), the U.S. S & P 1448.2 points (-0.63%), Prague PX 986.53 (-0.72% ). I imagine that within a few days the markets again corrected to their average levels of the past weeks. The reason could be again jitters about additional funding krachujícího Greece.


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