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Euro Shares Unchanged

European shares ended mostly unchanged following a day of choppy trading as strong German trade data was offset by the ongoing geopolitical conflict in Ukraine. The FTSEurofirst300 index inched up 0.41 of a point to 1,321.39.

German exports jumped by a seasonally adjusted 2.2% last January, much higher than the market estimate of 1.4%, while imports leapt 4.1%, compared to the consensus forecast of a 1.3% gain.

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Tourism Business Up

According to data from the National Statistical Coordination Board (NSCB), income from tourism went up by 10.2% to Php571.3 billion last year. Among the various tourism-related activities, shopping accounted for the largest share with 22.9%, followed by accommodation, and entertainment & recreation with 11.2% and 6.8%, respectively.

Tourism Undersecretary Domingo Ramon C. Enerio said that there is renewed confidence in the macroeconomic development of the country as well as the business climate, which is getting better. There were more arrivals in 2011 compared to 2010 and the previous years.

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NFP Report Rallies US Dollar Price

U.S. stock prices rallied by 2 percent as the non-farm payrolls report went out. Moreover, the U.S. jobs report showed stronger-than-expected hiring but also a rise in the unemployment rate to 8.3 percent, which keeps alive the hope of further support for the economy from the Federal Reserve.

The jobs data came towards the end of a volatile week, with an ECB policy meetings that quite disappointed the market.

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