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By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
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SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
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By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
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Cyprus Internet Directory [ Weak US durable goods report hurts European shares ]

Weak US durable goods report hurts European shares

Weak US durable goods report hurts European shares
September 25, 2009 - Reuters

European shares fell in afternoon trade on Friday after data showed an unexpected fall in U.S. durable goods orders for August.

By 1301 GMT, the FTSEurofirst 300 of top European shares was down 0.3 percent at 984.37 points, after trading at 989.22 points before the announcement.

The index, which tumbled 1.9 percent to a two-week closing low on Thursday, is on track to record a loss of 2.2 percent on the week.

Banks were among the top losers, with Credit Suisse, UBS, Deutsche Bank, Barclays and BNP Paribas down 0.5-1.9 percent.

Julius Baer shed 6.4 percent after giving disappointing targets in a strategy update and saying it would not increase dividends or buy back shares.

New orders for long-lasting U.S. manufactured goods fell unexpectedly in August, dropping by their biggest margin in seven months, following a plunge in commercial aircraft orders.

"The market was hoping for a positive number and we have seen quite a weak number, which is perhaps going in the face of the fact that maybe the recession is over," said Mark Priest, a senior trader at ETX Capital.

Shares in European industrial engineering companies also lost ground, hit by demand concerns. Sulzer fell 3 percent, Alstom dropped 2.2 percent and ABB lost 2.4 percent.

Oil producers lent support to the index, holding onto earlier gains in crude prices, which turned negative in afternoon trade. BP, BG Group and Tullow Oil put on 0.6-2.4 percent.

Around Europe, UK's FTSE 100 index was up 0.2 percent, Germany's DAX index eased 0.5 percent and France's CAC 40 lost 0.4 percent.

U.S. stock index futures also pointed to a weaker start for Wall Street.

(Source: Financial Mirror,

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