2nd February 2015 - Europe Seen Opening Lower - Poor Economic Data

Feb. 2, 2015 - PRLog -- Stock Port Associates is one of the world’s largest and most established offshore investment firms operating within a tax-favorable jurisdiction. Whether it’s dealing with new regulations, setting up an offshore presence, attracting new investors or identifying independent directors, we have the expertise to assist you.

2nd February 2015 - Europe Seen Opening Lower - Poor Economic Data

Major European Indexes as of 2nd February 2015

FTSE 100 - 6,749.40 (-0.90%)

DAX - 10,694.22 (-0.41%)

CAC 40 - 4,604.25 (-0.59%)

The Eurozone once again saw deflation in January according to the latest figures released.

Prices fell 0.6% against the previous year and dropped sharply from Decembers 0.2% decrease. The data continues to show the EU falling further into recession yet the key factor was the substantial fall in the cost of energy. The sector itself fell 8.9% in January due to the 60% decline in the cost of oil over the last 12 months.

Greece continues to hold the headlines as they now have just 4 weeks before they are due to exit the bailout provided by the IMF, ECB and EU. The country voted last week and put in place a far left government which said it will do everything in its power to halt the bailout exit and reverse the austerity measures currently in place. The situation has caused the Euro to fall to near 7yr lows against the dollar and many are calling for Greece to exit the Euro yet the ramifications of this type of move are still uncertain.

Just one week after the ECB announced a massive €1.1tn QE policy, its chair, Mario Draghi has still got a huge problem on his hands and the possibility of a Greek exit from the EU would be a major hindrance to the regions recovery, if and when it will start to happen.

It wasn’t all bad news however. Figures on unemployment improved for the EU with an 11.4% unemployment rate slightly better than the 11.5% seen in December. Both Spain and Greece are well above the regions average seeing 25.8% in Greece and 23.7% in Spain.

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