U.K. third quarter economic growth was confirmed at 0.5%, according to the latest figures published by the Office for National Statistics on Thursday. Meanwhile, the Bank of England cut its 2012 growth forecast and noted that more stimulus may be required in future amid "heightened uncertainty" related to Europe's crisis.
U.S. house prices will probably remain unchanged through 2012 and start recovering in 2012, believe economists polled by Reuters. Surveyed experts also consider that additional stimulus will no do much to revive consumer confidence and attract new home buyers.
Fitch ratings agency cut Portugal's credit rating to junk status BB+ from BBB- on Thursday citing "large fiscal imbalances" and "high indebtedness across all sectors". This rating is still one notch higher than Moody's rating of Ba2.
Japanese stocks closed mixed on Tuesday, after U.S. debt committee failed to reach a consensus on budget cuts. The Nikkei 225 decreased 0.40%, or 33.53 points, to 8,314.74, while the broader Topix gained 0.10%, or 0.71 points, to 717.79.
Swiss stocks edged lower for a fifth consecutive day on Wednesday after Germany failed to get bids for 35 percent of the 10-year government bonds and Markit report showed Chinese manufacturing sector may contract in November.
Number of approved mortgages increased to 35.3 thousand in October from 33.5 thousand in September, said the British Bankers' Association on Wednesday.
The number of Americans claiming for unemployment benefits rose to 393 thousand last week from 391 thousand the week before, said the Department of Labor on Wednesday. Economists expected the reading to decline to 389 thousand.
A German sale of the 10 year bonds on Wednesday drew some of the weakest demand since the creation of the European monetary union as the country didn't get bids for 35 percent of the government securities. "This auction is nothing short of a disaster for Germany," Mark Grant, a managing director at Southwest Securities Inc. said.
Japanese stocks closed mixed on Tuesday, after U.S. debt committee failed to reach a consensus on budget cuts. The Nikkei 225 decreased 0.40%, or 33.53 points, to 8,314.74, while the broader Topix gained 0.10%, or 0.71 points, to 717.79.
Swiss stocks extended losses on Tuesday as yields on Spanish government bonds rose to "eye-popping levels" and after U.S. economic growth slowed in the third quarter 2011.
U.K. public borrowing decreased more than expected to 3.4 billion in October from 10.2 billion in September, said the Office for National Statistics on Tuesday. Economists expected the reading to decline to 4.1 billion.
U.S. economic growth slowed to 2.0 percent in the third quarter 2011 from 2.5 percent the quarter before, said the Bureau of Economic Analysis on Tuesday.
Yields on Spanish government bonds rose to record highs on Monday as election victory by the conservative People's Party failed to calm the markets and after the European Central Bank said it will not purchase bonds in unlimited quantities.
Moody's Investor Service said on Monday that France's top notch AAA credit rating is under pressure amid higher borrowing costs and uncertain economic outlook.
U.S. existing home sales unexpectedly rose 1.4 percent to an annual rate of 4.97 million in October from 4.9 million in September, said the National Association of Realtors on Monday.
U.K. month on month house prices slid 3.1% in November, the most in a year, amid deteriorating debt crisis in Europe and uncertain economic outlook, said the Rightmove, one of the largest real estate portals in the country.
Swiss stocks tumbled on Monday amid worries that U.S. policy makers may not reach a consensus on budget cuts and after Spain selected a new government.
Japan's trade deficit widened to –0.46 trillion yen in October from –0.10 trillion in September, indicating the nation's recovery is slowing from the March disaster, said the Ministry of Finance on Monday.
The European Central Bank may lose credibility if it will conduct large scale intervention in the bond market, said European Central Bank President Mario Draghi on Friday. He also urged euro zone governments to kick-start the European Financial Stability Facility bailout fund.
The composite index of U.S. leading indicators rose more than expected in October, said the Conference Board Inc. on Friday. The index gained 0.9 per cent from September, easing worries the largest economy in the world may slide into recession.
U.K. stocks dropped for a fifth consecutive day on Friday, after France and Germany clashed over the role of the ECB in financial crisis management. The benchmark FTSE 100 index edged lower 1.11%, or 60.20 points, to 5,362.94. The FTSE All-Share Index also decreased 1.09%, or 30.47 points, to 2,764.19.
Swiss stocks extended losses on Friday on concern that European top officials don't have a solution to the sovereign debt crisis and after France and Germany clashed over the role of the ECB in financial crisis management.
Japanese stocks edged lower on Friday as car makers slid after Credit Suisse downgraded its rating on the industry. The Nikkei 225 lost 1.23%, or 104.72 points, to 8,374.91, while the broader Topix decreased 1.06%, or 7.73 points, to 719.98.
Germany and France, two key economies of the European Union, clashed over the role of the European Central Bank in financial crisis management, after modest bond sales by Italy and Spain failed to win back investor confidence.