Asian equities tumbled on Thursday falling towards the lowest level in more than months amid expectations that the U.S. Federal Reserve may trim its aggressive stimulus on a new budget deal easing the fiscal drag on the country's economy. The MSCI broadest Asia-Pacific gauge outside Japan slipped 0.7% reaching the weakest level since October during the intraday session.
Retail sector of Cyprus continued to show a significant decline in September of the current year, as the economy decline and unemployment rises. The volume of retail sales slumped 6.1% in the mentioned month after a 3.1% decrease in August. The results show a considerable decline in economic activity. At the same time, retail sales from January to September posted
BMW AG, the largest manufacturer of luxury cars in the world, is planning to build its first engine production plant in North America, as the company wants to invest more in expanding region's car market. It is planned the plant to be built either in U.S. or in Mexico and to be opened after 2014. Today, BMW AG equities are
Home Depot Inc., the biggest retailer for home improvement and construction products, announced that its revenue in the next few years will grow on the weaker pace, adding only 5% till January 2015. At the same time, company's management expects the EPS to surge 17% to $4.35. Today, Home Depot Inc. shares are jumping 0.89% to $79.31 per share by
U.S. lawmakers reached the bipartisan budget agreement, as the current deadline for budget deal is December 13. It is expected that the new deal will finance the government until 2016. The Congress should vote on the deal soon. It includes a $23 billion decline in the deficit, mainly due to spending decrease. Alongside, the government will invest more in education
The total amount of new loans in China in the national currency, yuan, reached 624.6 billion in November of this year, while economists forecasted the total sum to be around 580 billion yuan. Aggregate financing totaled 1.23 trillion yuan, while the M2 money supply surged 14.2 on the annual basis. Analysts say that increasing number of new loans in China
The consumer price index in the largest economy of the Eurozone remained stable in November of the current year from the initial estimate, matching analysts' predictions. The final inflation was 0.2% on a monthly basis, the same as a month ago. On the annual basis, however, the CPI advanced 1.3%. During the last month the energy prices in Germany dropped
The total amount of new orders for machinery in Japan increased 0.6% in October of 2013 on a monthly basis, as the demand advanced before the upcoming sales tax rise in the next year. The indicator for September, in turn, fell 2.1%. The total value of orders climbed to around 800 billion yen. It is worth pointing out that on
U.S. Treasuries declined on Wednesday ending a three-day increase on speculation that the agreement over U.S. budget may help the nation's economy supporting the Federal Reserve's decision to trim its bond-buying program on the next policy meeting. The benchmark 10-year yields traded at 2.81% by 7:10 a.m. London time.
The Australian Dollar dropped on Wednesday snapping its four-day increase, the largest winning streak in a seven-week period before a government report showed that unemployment in the country reached the highest figure since 2009. The so-called Aussie shed 0.1% to 91.44 U.S. cents by 11:19 a.m. Sydney time following an increase of 1.4% in the prior four sessions.
Copper fluctuated on Wednesday after the Asian Development Bank increased China's gross domestic product growth outlook for 2013 to 7.7% from 7.6% in October, as China is the world's largest consumer of the commodity. Copper for settlement in three months was little changed on the London Metal Exchange at $7,155.50 a metric ton as of 10:15 a.m. Shanghai time.
Gold swung between gains and losses on Wednesday and traded near the highest level in three weeks amid signs that metal's outlook were boosted after China's physical demand rose and as the U.S. Dollar slipped. Bullion for delivery in December advanced and dropped 0.2%, before falling by $1.68 to $1.260.50 an ounce as of 8:34 a.m. Singapore time.
Corn declined on Wednesday falling for the second straight session after the WASDE report revealed record forecast for global production and domestic inventories increase together with growing output. Corn for delivery in March fell 0.3% to $4.3475 per bushel on the CBOT as of 11:05 a.m. Singapore time after the prices jumped to the strongest level since November 14 at
Indian equities declined for the second straight day on Wednesday pushing the regional stock index down led by lenders and industrial companies mid speculation that the Reserve Bank of India may raise its repurchase rate from 7.75% to 8.5% next year. The S&P BSE Sensex Index fell 0.6% to 21,138.39 as of 11:35 a.m. Mumbai time and it reached the
West Teas Intermediate crude increased on Wednesday traded close to its highest level in more than a month after a government report showed that inventories in the world's largest consumer of the oil, U.S., dropped for the second successive week. WTI for delivery next month fell 2 cents and it traded at $98.49 on the NYMEX as of 2:30 p.m.
Japan's equities declined on Wednesday with the regional benchmark index Topix snapping its thee-day losing streak after the Japanese currency dropped for the second straight session pushing exporters lower. The Topix fell 0.5% and closed at 1,250.45 in Tokyo, while the Nikkei 225 tumbled 0.6% traded at 15,515.06.
Unemployment rate in South Korea declined in November with the jobless rate among youth between the age of 15-29 increasing by 7.5% following a 6.7% advance in November 2012, the Statistics Korea showed in a report on Wednesday. South Korean jobless rate fell 2.9% in November after recording a 0.3% slid in the previous month.
Non-agricultural sector employment in France declined in the September quarter, however, the pace was weaker than in the quarter before suggesting a slight improvement in the sector, the statistical office Insee unveiled on Wednesday. Employment in France's non-farm sector fell 0.1% in the Q3 following the Q2 drop of 0.2% in employment.
Wholesale inventories in the world's largest economy advanced more than economists initially expected in October mainly due to a notable advance of non-durable goods inventories that rose 3%, the Commerce Department reported on Tuesday. According to the report, the U.S. wholesale inventories climbed 1.4% in October after jumping 0.5% in prior month.
The economic performance of the United Kingdom improved in 3 months to November as the country's output gap is narrowing, a report released by the National Institute of Economics and Social Research revealed on Wednesday. According to the report, the U.K. gross domestic product accelerated 0.8% in the three months until November following a 0.7% growth in the period before.
The U.S. Dollar slipped on Wednesday falling against the majority of its most-traded peers as the currency index dropped to the lowest level in six weeks amid concern that the U.S. Federal Reserve may need more positive data in order to trim its monetary easing. The U.S. Dollar index traded at 79.98 earlier today after hitting the lowest level in
U.S. shares closed lower on Tuesday after the benchmark index Standard & Poor's 500 recorded its record high on yesterday's session and as investors awaited an outcome of the next week's policy meeting of the U.S. Federal Reserve resulting in a possible scale-back of bond purchasing. The Dow Jones industrial average slipped 0.33% to 15,973.13, the S&P 500 Index fell
The majority of Asian shares edged lower on Wednesday with the local benchmark gauge falling together with Shanghai index as traders took their profits after previous gains on weaker U.S. currency dropping amid speculation of stimulus scale back. The broadest Asia-Pacific Index outside Japan slipped 0.7% and the Shanghai Composite Index fell 1.1%.
European shares dropped, snapping two-day winning streak, after China's industrial report missed the forecasts. The Stoxx Europe 600 Index slid 0.3% to 316.08 as of 1:16 p.m. in London; however, the equity-benchmark has jumped 13% this year. Standard & Poor's 500 Index futures slipped 0.1%, while the MSCI Asia Pacific Index was little changed today.