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Wall Street closes lower on Cyprus concerns

FXstreet.com (San Francisco) - The US stocks market has finished Monday with losses as investors was concerned by the news about Cyprus bailout and levy. Financials, and specially banks, has pressured down the indexes.

The Dow Jones declined 62.05 points or 0.43% to end the day at 14,452.06. S&P 500 eased 8.60 points or 0.55% to finish at 1,552.10. And the Nasdaq Composite lost 11.48 points or 0.35% to close the day at 3,237.59.

Forex Flash: Dividend-rich equities yield effective rate of return in Europe – Goldman Sachs

As the risk premium has started to moderate, the desire to hoard cash on balance sheets should start to decrease. The incentives to either return cash to shareholders or invest in future growth are rising. A number of companies have increased dividends or paid special dividends this year and dividend expectations are rising.
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Cyprus meeting: More flexibility on levy with a Tuesday vote as planned

As Reuters informed, Cyprus has been granted more flexibility on the bank levy according to the Greek finance ministry. Cyprus should safeguard protection of depositors below €100K, but in the same line, the island will still have to raise €5.8 billion in bank levies.
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