The AIA group, Asia’s third largest insurer, slipped .2% today, however posted a larger than expected increase in value of new business in the first half of the year. The Banking sector rose today after Shanghai Securities News announced Chinese banks have until 2018 to meet new capital-adequacy rules. Industry and Commercial Bank of China rose 2.7% and Bank of China 2.1%.
Europe is having a choppy trading day, however the FTSEurofirst has managed a .1% gain on yesterday’s comments by European Central Bank Leader Mario Draghi. The day has been held back by a Spanish report showing unemployment staggeringly high at 24.6% in Q2, the highest on record. The Euro is up again today at 1.2309.
The SEC and department of justice are considering investigating retailers for breaches of anti-foreign bribery laws after allegations came in from Mexico against Wal-Mart.
Commodities are beginning mixed again today with crude and silver up as natural gas and silver are slacking at the moment.
Contributer Chris Rygh is currently pursuing his MBA in Wisconsin and has a passion for the Market.
Comments can be directed to ryghcw19@uww.edu