ECONOMIC EXPANSION

WORLDWATCH VORACIOUS APPETITE FOR COMMODITY NEWS

 

Previous posts
Goodgle link units
Add your google link units or ad units here by replacing this text in the template
subscribe
Add ANY ICONS OR Blog directories buttons here
Blog Archieve
  • November 2006
  • August 2007
  • September 2007
  • October 2007
  • November 2007
  • December 2007
  • January 2008
  • February 2008
  • March 2008
  • April 2008
  • May 2008
  • June 2008
  • July 2008
  • August 2008
  • September 2008
  • October 2008
  • November 2008
  • December 2008
  • January 2009
  • February 2009
  • March 2009
  • April 2009
  • May 2009
  • June 2009
  • July 2009
  • August 2009
  • September 2009
  • October 2009
  • November 2009
  • December 2009
  • January 2010
  • February 2010
  • March 2010
  • April 2010
  • May 2010
  • June 2010
  • July 2010
  • August 2010
  • September 2010
  • October 2010
  • November 2010
  • December 2010
  • January 2011
  • February 2011
  • March 2011
  • April 2011
  • May 2011
  • June 2011
  • July 2011
  • August 2011
  • September 2011
  • October 2011
  • November 2011
  • December 2011
  • January 2012
  • February 2012
  • March 2012
  • April 2012
  • June 2012
  • July 2012
  • August 2012
  • September 2012
  • October 2012
  • December 2012
  • January 2013
  • February 2013
  • May 2013
  • August 2013
  • April 2014
  • June 2014
  • September 2014
  • October 2014
  • January 2015
  • February 2015
  • March 2015
  • April 2015
  • September 2015
  • November 2015
  • January 2016
  • March 2016
  • November 2016
  • January 2017
  • May 2017
  • Credits



    The downgrading of Portugal

    As announced by WorldWatch the euro weakened against 14 of its 16 most-traded peers in New York.

    The MSCI World Index of stocks in 23 developed nations slid 0.6 percent and the Standard & Poor’s 500 Index fell 0.2 percent, retreating from an 18-month high. The Reuters/Jefferies CRB Index of commodities fell to the lowest level since Feb. 12 as oil slid 1.5 percent, copper dropped 1 percent and lead tumbled 2.8 percent. The yield on the benchmark 10-year Treasury note rose 7 basis points to 3.76 percent.

    The euro slid to a 10-month low against the dollar, while stocks, commodities and Treasuries also retreated, as concern grew that Greece may default and Portugal’s debt was downgraded by Fitch Ratings.

    Greece is going to default at some point, and Europe’s failure to answer that challenge will hurt the common currency, If Europe can’t solve a small problem like this, how on earth is it going to solve the larger problem, which is the euro doesn’t work.

    The S&P 500 fell for the first time in three days after closing at the highest level since September 2008 yesterday. Concern over Portugal and Greece overshadowed a third straight monthly increase in orders for durable goods, a sign the manufacturing rebound will keep propelling the U.S. recovery. European reports showed that the region’s services and manufacturing grew at the fastest pace since August 2007 and German business confidence increased.
    The downgrading of Portugal is a consequence of the inflated petrol prices practiced by Galp,BP, Repsol and Cepsa and if the situation is not corrected by the government then a further downgrading is possible.

    Crude oil slid 1.5 percent to $80.67 a barrel after a 7.5 million-barrel increase in U.S. inventories reported yesterday by the American Petroleum Institute. The euro declined as much as 1.2 percent to $1.3333, the lowest level since May 2009.

    While most European stock gauges declined, Greece’s ASE Index rose 0.9 percent. Portugal’s PSI-20 Index slumped 1.3 percent, the most in a month...

    Labels: , ,

    written by ABSTRACTMIND @ 3:13 pm, ,

    Main Topic

    As http://so-buracos.blogspot.com informed last week, the price of petrol for the motorist in Portugal this week has once more increased...
    The price per litre has passed the 1,40 Euro for the first time in 18 months, Portugal continues to have one of the highest consumer price for petrol in the world ...
    The companies involved in this squeme are, Galp 1,409 euro, Cepsa 1,409 euro, BP 1,419 euro, Repsol 1,414 euro, these prices are for regular 95 Octane.

    95 Octane. (per litre)
    Galp 1,409
    Cepsa 1,409
    BP 1,419
    Repsol 1,414

    DIESEL (per litre)
    Galp 1,144
    Cepsa 1,147
    BP 1,155
    Repsol 1,154

    A year ago to fill a normal 50 litre car tank we paid 57,85 euros, today the same tank will cost 70,95 euros...
    These prices will shortly start a cascade of higher prices in all consumer goods,services and retail prices, according to WorldWatch Portugal faces the risk of becoming bogged down in a even worse economical situatioon than that of Greece.
    These petrol consumer prices are equivalent to when crude was at a record of $147 per barril...
    Besides the directly involved companies the government is also to blame for the inflated prices, the revenue in Tax obtained is huge and according to local newspapers corruption is a main topic for most politicians and government company CEO.

    Labels: ,

    written by ABSTRACTMIND @ 2:45 pm, ,


    Links

    Subscribe

    Subscribe in a reader

    Advertise


    The Commodity prices are provided by Forex Pros - The Leading Financial Portal

    blog links
    Finance directory