Germany: ZEW Investor Confidence Index Fell
The German Investor Confidence Index recorded a fall in August due to concerns about instability in the global economic and geopolitical scene, according to research from the ZEW Institute.
The index of expectations of investors and analysts fell to 25.0 points, down from 29.7 in July. Economists who participated in a survey from Reuters were expecting it to be formed at 32.0 points. The index of the current conditions, however, rose at 65.7 points from 63.9 in July, beating the estimates for a rise at 64.3 points.
In the research of ZEW that was held between July 27 and August 10, 228 analysts and investors participated.
Euro Moves Steady
Euro moves steady against the dollar today with the foreign exchange market to have turned its interest to the developments in China after the devaluation of the yuan.
Specifically, at 09:57 GMT, euro moved with profits of 0.04% at $1.1024, while earlier it reached $1.1051 level.
Earlier it became known that the Central Bank of China proceeded with a devaluation of the yuan with the Chinese currency to decline to almost a three-year low. The devaluation was around 2%.
UK Bank And Adani Cut Ties On Mine
Indian mining giant Adani says concern over delays in the approval process for its proposed Carmichael mine led to a decision to cut ties with one of the UK's largest banks. Standard Chartered (LONDON:STAN) will no longer play a financial advisory role in the $16.5 billion Queensland project, Adani confirmed on Tuesday.
Green groups last week claimed a win when the Federal Court ordered the mine's approval be set aside following the discovery of an apparent legal loophole in Environment Minister Greg Hunt's decision. On Tuesday, conservationists credited their international campaign for the latest revelation involving Standard Chartered.
An agreement between Adani and the Commonwealth Bank also ended last week following the legal developments. The campaign waged by conservationists placed "thousands of jobs and billions of dollars of investment" at risk, Adani said. The mine and its associated rail link to the Abbot Point coal terminal would unlock Queensland's resources-rich Galilee Basin. It would be the biggest in Australian history if it goes ahead.