A look at economic developments around the globe

Print
Email
|

Associated Press

Posted on July 30, 2012 at 5:00 PM

Updated Monday, Jul 30 at 6:01 PM

A look at economic developments and activity in major stock markets around the world Monday:

___

BERLIN — U.S. Treasury Secretary Timothy Geithner and his German counterpart stressed the need for coordinated action Monday in the face of the eurozone debt crisis and faltering global growth, but they left open what joint steps Europe and the United States could take to shore up the world economy in the coming months.

___

MADRID — The Spanish economy remains stuck in its second recession in three years after contracting 0.4 percent in the second quarter of 2012 from the previous three months, according to official data.

___

LONDON — Hopes that Europe is preparing to take new action to fight its debt crisis supported markets at the start of a week that could also see the Federal Reserve enact new measures to boost the U.S. economy.

Germany's DAX closed 1.3 percent higher while the CAC-40 in France rose 1.2 percent. The FTSE 100 index of leading British shares gained 1.2 percent.

___

TOKYO — Japan's Nikkei 225 stock average closed up 0.8 percent and Hong Kong's Hang Seng jumped 1.6 percent. Australia's S&P/ASX 200 climbed 0.9 percent and South Korea's Kospi rose 0.8 percent. China's Shanghai Composite fell 0.9 percent.

___

BRUSSELS — The EU's executive branch reports that economic confidence fell in July, as optimism faded in industry and the services sector.

___

MILAN — Italy managed to tap investors for €5.48 billion ($6.75 billion) with key borrowing rates lower than they had been previously.

___

TOKYO — Japan's industrial production dipped 0.1 percent in June from May, the third straight monthly decline, showing that the world's No. 3 economy continues to struggle.

___

ATHENS, Greece — Three parties in Greece's new coalition government are to resume talks to try to decide on a major new package of budget savings demanded by lenders as a condition for continued bailout financing.

___

BEIJING — China's government said it will launch projects to attract private investment in energy, health and other industries as it tries to reverse an economic slowdown.

___

NEW DELHI — Northern India's power grid crashed, halting hundreds of trains, forcing hospitals and airports to use backup generators and leaving 370 million people — more than the population of the U.S. and Canada combined — sweltering in the summer heat.

___

Print
Email
|