Industrial metals were bullish on Monday on positive German industrial production data. Moreover, weaker greenback coupled with copper mine workers strike in Chile lent support to the commodity group. Meanwhile, market participants were cautious ahead of the key China's numbers due on Tuesday and Wednesday. Aluminum climbed as rising cancelled warrants at the LME signal on strong spot market activity. Moreover,
U.S. equities advanced on rising optimism that the first-quarter profits would favor a rebound in the market after posting biggest decrease on week this year. The S&P 500 Index rallied 0.6% to 1,563.07. All but one group in the benchmark index edged higher. Advanced Micro Devices jumped 13.1% for the biggest surge in the S&P 500 on news Microsoft Corp.
Majority of emerging-market shares declined on Monday as rebound in eastern European stocks overshadowed concerns about infections from a bird-flu virus in China and a rising tension between North and South Korea escalated into threats of nuclear device detonation. The MSCI Emerging Markets Index gained less than 0.1% to 1,008.14 as 344 stocks fell and 287 rose on Monday.
Industrial output in Switzerland moved up in the last three months of 2012, but the rate of acceleration was much slower than in the Q3, the Federal Statistical Office reported on Monday. The report said that the Swiss industrial production rose by 1.7% on an annual basis in the Q4 following a growth of 2.5% in the previous quarter, while
Investor confidence in the 17-nation bloc decreased for the second straight month in April, when the pace of contraction was faster than expected, a report unveiled by the think-tank Sentix showed on Monday. The investor confidence index slipped from March's level of -10.6 to -17.3 in April, while the index was originally expected to drop to -12.8.
Industrial production in Germany recovered more than preliminary estimated in February from the drop recorded in the month before, a data released by the Economic Ministry showed on Monday. The data said the industrial output gained 0.5% in February after it decreased by 0.6% in the previous month, when the recovery was led by a 2.4% rise of investment goods
Japan's current-account balance recorded its first surplus in a four-month period in February as the value of incomes from overseas investments were boosted by the weaker Yen and as holiday during the Lunar New Year reduced Chinese exports to Japan, the Ministry of Finance reported on Monday. The result was a surplus of 637.48 billion yen, or $6.5 billion, exceeding
Soybean increased for the first time in a four-day period on Monday as investors bet on rise of the commodity after it dropped to the weakest level in three months amid new bird flu discovered in China. Soybeans for May delivery advanced by 1.2% to $13.785 a bushel on the CBOT and it was little changed at $13.7575 at 2:04
Business sentiment of the service sector in Japan increased for the fifth month in a row in March suggesting that weak Japanese currency and advance in stocks prices helped by the Bank of Japan's aggressive monetary stimulus measures, the Cabinet office reported on Monday. The service sector sentiment index moved up from 53.2 in February to 57.3 in March, while
Gold declined on Monday as holdings in exchange traded products (ETP) fell 0.6% last week reaching its weakest level since August 2012 at 2,434.436 metric tons, which curbed demand for the precious metal. Bullion for the delivery in April dropped 0.3% to $1,575.83 an ounce and it was traded at $1,579.05 at 11:52 a.m. Singapore time, after it touched it
West Texas Intermediate oil rose on Monday rebounding from its largest drop in a week since September 2012, while Brent's premium to WTI futures was close to the weakest level in 10 months. May WTI futures gained 69 cents to $93.39 a barrel on the NYMEX and were traded at $93.36 earlier on Monday London session, whereas the Brent's premium
Copper bounced back from a three week losing streak on Monday after a report showed that orders to remove the metal from warehouses increased to the strongest level since at least October 1997 and on strikes in Chile concerns. July Copper futures gained 1.2% to $7,494.75 a metric ton on the London Metal Exchange after it was traded at $7,480
Hong Kong equities traded green on Monday, as airlines rallied after the last week's decline triggered by concerns over a new bird flu burden in China. The Hang Seng Index added 0.1%, or 21.56 points, to 21,749.77. Cathay Pacific Airways Ltd jumped 4.6% to HK$12.84, rebounding from the seven-month low. The company's shares have lost almost 20% of their value
Asian shares increased on Monday as gains of Japanese stocks offset losses of Taiwanese and Chinese shares after the Japan's central bank unveiled the new stimulus monetary policy program to fight deflation in the country weakening the nation's currency. The MSCI Asia Pacific Index advanced by 0.5% to 134.12 at 3:14 p.m. Tokyo time.
German government 10-year yields were little changed on Monday before a report showed that the industrial output in the 17-nation bloc expanded by 0.3% in the month of February. The benchmark 10-year bund yield was at 1.22% earlier on Monday London session after it decreased to the weakest level since July 2012 on April 5 at 1.20%, while last week
Japanese shares surged on Monday, as BOJ launched new stimulus package to boost the economy and end deflation in the country. In addition, BOJ will increase its bond purchasing program to 7.5 trillion yen, up from previously forecast 5.2 trillion yen. The Nikkei 225 Index jumped 2.8% to 13,192.59 points, the highest value since August 2008. 218 out of 225
The Japanese currency decreased to its lowest in almost four years after the Bank of Japan's new Governor added new stimulus measures in order to end the period of deflation in the country. The Yen tumbled 1% to 98.54 per U.S. Dollar earlier on Monday in London after it reached 98.85 and it declined to 127.87 per euro, the weakest
The British currency was little changed versus the U.S. Dollar and the Euro on Monday after a report showed that business sentiment in the U.K. gained from 90.6 to 92.2 in March and as hiring intension improved in the country. The Sterling was traded at $1.5329 earlier on Monday following a rise to $1.5363 on April 5, its highest level since February
European shares bounced back from its biggest weekly drop in five months rising for the first time in four days on Monday before a report showed that industrial production in Germany increased in February. The benchmark Stoxx Europe 600 Index added 0.5% to 288.54 earlier on Monday London session after it fell 2.3% last week amid report showing less jobs
U.S. shares retreated on Friday after jobs report was released showing the U.S. labor market added less-than-forecast jobs in March. However, experts claim the disappointing data does not show a trend. The Dow Jones Industrial Average dropped 0.3%, or 40.86 points, to 14,565.25. Seven out of ten groups on Dow decreased, with tech shares and consumer goods losing the most.
Farm commodities were mixed on Friday amid broadly weaker greenback and weak demand for U.S. grains. However, abnormally cold weather in the U.S. and Europe was supportive for the commodity complex. Wheat was the top-gainer as cold temperatures are delaying development of winter grains in the U.S. and Europe. Meanwhile, Informa Economics estimated a hard red winter wheat harvest at 903
Energy futures apart from natural gas declined on Friday after disappointing U.S. labour market numbers. Weak jobs data fuelled fears that the U.S. economic recovery is losing momentum that may weigh on the energy demand prospects. Moreover, a recent bearish EIA inventory report added pressure on oil prices. Crude and Brent oil finished in red on concerns over jobs market in
Industrial metals except for aluminum ended the week in the negative area after U.S. jobs data fell short of forecasts, spurring worries over the recovery of the world's largest economy. At the same time, rising cancelled warrants at the LME restricted a downward trend of the commodity group. Aluminum was the only gainer amid increasing cancelled warrants and falling inventories at
Precious metals rallied on Friday after weak U.S. jobs data indicated that the Fed is likely to keep its monetary policy loose to boost economy. U.S. payrolls rose 88,000 last month, defying expectations of an increase of 198,000. Moreover, broadly softer greenback was supportive for the commodity sector. Gold was bullish on optimism that the Fed will leave its growth-boosting