German equities are trading higher on Thursday as positive data from the world's first and second economies prompted inventories to turn to riskier assets. China's PMI beat estimates in October while US non-farm private employment figure surpassed forecast last month. Easing concerns over Greece also added to gains of German shares. The DAX Index rallied 0.77% and is currently trading
UK equities rallied on Thursday after encouraging US data. US businesses added 158,000 jobs last month, exceeding forecasts of a 135,000 increase. Positive China's PMI data also boosted market sentiment. However, the upswing was capped by disappointing UK PMI release. The national PMI contracted to 47.5 in October, confronting expectations of a decrease to 48.1 last month. The FTSE 100
Hong Kong shares inched up on Thursday on positive China's PMI reading. China's PMI showed expansion in October, spurring hopes that the world's second-largest economy is stabilizing. Market sentiment was further boosted by record liquidity injection by the POBC at the end of the month. The Hang Seng Index added 0.83% to close at 21,821.87. Eight out of nine sectors
Japanese equities advanced on Thursday on positive manufacturing data from China. China's PMI attained three-month high of 50.2 in October, suggesting that the country's manufacturing activity swung from contraction to expansion. Meanwhile, investors remained cautious ahead of key US data releases due later in the day. The Nikkei 225 Index jumped 0.21% to close at 8,946.87. Six out of ten
US blue chips traded in the red territory, after reopening from two day long closure in wake of Hurricane Sandy. Dow came under heavy pressure after Chicago PMI showed worse-than-expected improvement in October. However, encouraging headlines from the eurozone capped losses of the US blue chips. Greece finally agreed on its budget while Spanish PM said that the country needs
US stocks inched up at after-hurricane trading on Wednesday amid positive news from the eurozone. Greece agreed on its budget plan and Spain hinted that it needs EU help to meet its deficit targets. However, worse-than-expected Chicago PMI reading coupled with mixed quarterly reports created heavy pressure on the US stock index. The S&P 500 Index added 0.02% to end
On Thursday, U.S. stock-index futures were gaining after a report showed that the number of Americans filing for unemployment benefits was less than expected. Pfizer Inc. declined by 0.7% after it decreased the forecast for 2012. December futures on the Standard & Poor's 500 Index added 0.2% to 1,409.1 by 8:47 a.m. New York time.
The U.S. Bureau of Labor Statistics reported on Thursday that U.S. non-farm productivity increased more than expected during the last quarter. Non-farm productivity added 1.9% on a seasonally adjusted basis in Q3, unchanged from a revised down figure of 1.9% growth in the preceding quarter. Economists expected a 1.6% gain.
On Thursday, European stocks were advancing on reports that showed an increase in U.S. employment and a rebound in China's manufacturing. The Stoxx 600 added 0.7% to a level of 272.09 by 1:14 p.m. London time. Earlier, the index was also gaining during the five previous trading sessions.
Farm commodities apart from coffee moved higher on Wednesday, supported by broadly softer greenback and easing worries over Hurricane Sandy. Adding to the positive mood of rural commodities, weather in Brazil deteriorated prompting buyers to turn to US supplies.Wheat climbed as US winter-varieties are in the worst condition in 27 years due to severe drought this summer.Corn jumped as adverse
Energy futures tumbled on Wednesday despite weaker US Dollar and easing concerns over Hurricane Sandy. Meanwhile, market players awaited fresh report on the US crude oil stockpiles due on Thursday. Experts predict the US supplies may have stockpiled further last week, thus pushing energy prices down.Crude oil moved down as US inventories are expected to have increased last week. At
The greenback advanced for the first time in three days against the Euro as traders believed in safety of the U.S. currency after factory data from Sweden and Norway fueled belief that Europe's debt crisis is weakening growth. The Dollar added 0.2% to $1.2937 per Euro and rose 0.3% to 80 Yen, while the Yen slid 0.1% to 103.49 per
Russia's factory output increased for the second straight month in October, posting its best total performance since May, Markit Economics showed on Thursday. The HSBC Russia Manufacturing PMI climbed to 52.9, exceeding the long-run Markit survey average of 52.1. The advance was led by a 1.5-year fast growth rate in new orders.
Hong Kong's retail sales advanced at a significantly higher pace in September, Census and Statistics Department reported on Thursday. Retail sales volume, measured in constant prices, soared 8.5% on year way above expected 5.8% increase, after a 3.2% rise in August. In the January-September period, retail trade expanded 3.2% from the same period in 2011.
Base metals were mixed on Wednesday on encouraging news from China. The POBC pumped USD62.7 billion into financial system via reverse repos to ease liquidity conditions at the end of October. Industrial metals also received a boost after Greece approved its budget plan.Aluminum was the top-loser despite improved spot demand. Aluminum inventories remained elevated in spite of a recent drop
Precious metals rebounded on Wednesday amid short-covering and buying on dips. Broadly weaker US Dollar also added to gains of the commodity group. However, persistent uncertainty over easing measures in the US capped the upswing. Gold moved higher on stronger demand as traders started to cover short positions. However, market participants remained cautious ahead of key US data scheduled for
The Federal Statistical Office reported on Thursday that growth of retail sales in Switzerland slowed its pace last month. Year on year, the turnover of Swiss retail trade increased by 5.4% in September compared to a reading of 6% in the preceding month. Analysts, however, expected that the gauge for goods sold at retail outlets would grow by 6.4%. Retail
The Labor Department reported on Thursday that the amount of Americans that filed for unemployment benefits decreased during the week ended October 28, which added to signs of recovery in the economy. Initial claims for unemployment insurance fell by 9,000, reaching a level of 363,000 on a seasonally adjusted basis. Economists, however, expected a higher reading of 370,000. "Jobless claims have
On Thursday, treasuries were traded lower, trimming 3-day gains, following a report that showed that Chinese manufacturing activity expanded last month, amid an upcoming U.S. data, which is widely expected to be optimistic. The yield on benchmark 10-year notes grew by 1 basis point, reaching a level of 1.70%, at 6:53 a.m. London time.
Stoxx Europe 600 Index climbed almost half of a percent yesterday closing fifth consecutive positive month with total of 16% gain. Analysts speculate this mainly happened due to upcoming announcements which should show that U.S. consumer confidence increased and Chinese manufacturing accrued for the first time in the last quarter. Index gains were mainly fueled by news that Sinopec Group is considering a takeover bid on Etablissements Maurel & Prom whose
After gaining throughout the last three days, China's Yuan depreciated on central bank's lowered reference rate. The value of Yuan has to be held within the permitted reference rate of 1%. The currency dropped 0.03% to 6.2392 per dollar, after advancing 0.76% the prior month. End October the Yuan reached its highest level against the dollar of 6.2371, which was the strongest since 1993.
On Thursday, German government notes held yesterday's gains, before a report that is widely expected to show a decrease in Spanish manufacturing activity last month. The yield on benchmark 10-year government bonds was 1.47% at 8:22 a.m. in London, following a decrease to 1.44% yesterday.
On Thursday, copper extended gains for the third trading session on optimistic data from China. On the London Metal Exchange, three-month copper edged up by 0.6% to trade at $7,805.75 per metric tonne at 7:17 a.m. London time. Earlier, the commodity rose by 0.5% during the previous trading session.
On Thursday, gold was traded flat, as traders eyed the upcoming U.S. employment data and election, looking for clarity about the global economy. Spot prices for gold held still at $1,721.41 per troy ounce at 6:56 a.m. in London. Earlier, the settlement level for the precious metal hit a 1-week high of $1,725.55.