Economic expectations for the eurozone have increased by 19.1 points in March. The respective indicator now stands at 11.0 points. The indicator for the current economic situation in the eurozone has increased by 0.7 points and now stands at minus 48.4 points.
Eurozone debt crisis has reached a turning point noted Herman van Rompuy, president of the European Union Council, according to media reports. Rompuy told a plenary session of the European parliament today that EU was not forcing austerity on Greece, saying that the support the EU has given Greece is already worth more than its annual gross domestic product.
Van Rompuy was speaking as Greece progresses with the largest-ever debt restructuring in history, cutting its overall debt level by over EUR100 billion, while committing itself to more years of structural reform and budgetary austerity.
Van Rompuy also pointed to the apparent success of the European Central Bank's massive injections of liquidity over the past three months to unfreeze interbank and sovereign credit markets, and said he hoped that the money injected--over EUR1 trillion in all--would reach the real economy in due course.
Van Rompuy was speaking as Greece progresses with the largest-ever debt restructuring in history, cutting its overall debt level by over EUR100 billion, while committing itself to more years of structural reform and budgetary austerity.
Van Rompuy also pointed to the apparent success of the European Central Bank's massive injections of liquidity over the past three months to unfreeze interbank and sovereign credit markets, and said he hoped that the money injected--over EUR1 trillion in all--would reach the real economy in due course.
Waning supplies of potato in the major mandies prompted strong gains in potato futures market. The NCDEX futures gained by almost Rs 45 per quintal in the last two trading days.
Traders mentioned that strong supplies of potato in cold storages reduced the supplies of potato in the major mandies. The total daily arrivals of potato declined by almost 30-40 % to reach 100-120 trucks at major mandies.
Traders suggested that cold temperature in the major producing regions of potato such as Uttar Pradesh , Punjab and Haryana diverted the potato supplies towards cold storages .
Consequently , the NCDEX March futures spurted by almost Rs 45 per quintal to trade at Rs 935 per quintal. Traders are expecting the prices to scale Rs 1000 per quintal in the near term.
Production declines in China Zinc are able to support commodity even after a significant zinc surpluses in the world. National Bureau of Statistics mentioned in their released data that Jan-Feb 2012 production of Zinc was 772000 tons, down 2% from corresponding period last year. Total Zinc production in February was 402000 tons in February 2012, up 2.8% from February 2011. LME Zinc forward contract was trading at $ 2095.75 per ton, up 2.4% from $ 2045.5 per ton on 12 March. mcxtips Zinc contract for March expiry is trading at Rs 104.4 per kg, up 0.53%.
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