Spreadex Market Update
European stocks rise
The Euro appreciated against 14 of its 16 major counterparts, notably the Israeli Shekel reached its highest level in almost one month.
The world’s second largest brewer SABMiller achieved a 12 percent rise in first-half profit, meeting expectations.
They have claimed that strong growth in Africa and Latin America should continue during its second half. Robust demand from emerging markets has helped offset the impact of tough economic conditions in Europe and the States, providing two thirds of group sales.
Glencore meanwhile have clinched EU regulatory approval for its $31 billion bid for miner Xstrata on Thursday after agreeing to cut its European Union zinc market share to below 40 percent.
According the European Commission, the world’s largest diversified commodities trader must scrap an exclusive zinc sales deal and sell its 7.8 percent stake in the world No.1 zinc producer Nrystar.
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