After Christmas holidays, shares in Europe were steady on Thursday as U.S. President Barack Obama is prepared for another round of negotiations in order to avoid tax hikes and spending cuts after January 1. European shares opened at 1137 points, when London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX recorded changes in a range of 0.1% lower and 0.4% higher.
Farm commodities were mixed in post-holiday trade on Wednesday. Improved risk sentiment due to hopes for US fiscal deadlock resolution was supportive for rural commodities. At the same time, weak US export data weighted on grains.Wheat was the top-loser after the USDA reported that US exports dropped 9.1% to reach the lowest level since 2009 in the week ended December
Energy futures advanced on Wednesday on hopes that US officials will resolve the budget impasse thus avoiding recession in the country. Moreover, larger-than-expected increase in the US home prices in October as well as weaker greenback spurred rally of the commodity group. Crude oil rebounded on expectations that US lawmakers will reach an agreement on fiscal policy before the January
Base metals were bearish over the last week as market players were worried about lack of progress in the US fiscal standoff. Moreover, weak industrial figures from the US added pressure on the industrial metals. Richmond Fed manufacturing index slumped to 5.0 in December in contrast to forecasts of an increase to 12.0 this month. However, the reading above 0.0
Precious metals climbed in post-holiday session, being boosted by weaker US Dollar. However, safe-haven appeal of the commodity group was dampened by mounting hopes that US lawmakers will manage to avert so-called fiscal cliff. US President Barack Obama is expected to return to Washington on Thursday to participate in fiscal talks.Gold added 0.10% despite softer demand for safe-haven assets amid
Oil traded near a two-month high as U.S. lawmakers were ready to resume negotiations to avoid ‘fiscal cliff'. Brent for February delivery declined 19 cents to $110.88 a barrel, while prices yesterday rose $2.27, or 2.1%. WTI for February settlement traded at $90.94 a barrel, and futures climbed $2.37 to $90.98 yesterday.
Asian stocks rose on caution as U.S. officials were ready to resume talks on how to avoid spending cuts and tax increases. The MSCI's broadest index of Asia-Pacific stocks excluding Japan rose 0.3%, with Australian stocks gaining also 0.3%. Hong Kong shares climbed 0.4% to near the highest level in 17 months, while Shanghai steadied after rising to the highest
The Australian Dollar weakened against all 16 major peers as US lawmakers were ready to resume ‘fiscal cliff' talks. The Aussie dollar lost 0.3% to $1.0349 at 4:07 p.m. in Sydney, set for a 0.8% drop this month. The currency bought 88.81 yen from 88.87 a day earlier. The New Zealand Dollar remained unchanged at 81.98 U.S. cents from yesterday.
Taiwan's dollar advanced to the highest level in December as overseas investors increased their holdings of the nation's assets. The Taiwan dollar gained 0.3% to NT$29.040 versus the greenback at 10:14 a.m. Taipei time. The currency fetched NT$29.019 on December 3, the highest level since November 13, and has appreciated 4.3% this year.
Japan's currency fell to the lowest level in 16 months versus the Euro ahead of data, which may show Japan's consumer prices decline, fanning speculation Shinzo Abe will push the BPJ to boost cash injections. The Yen fetched 113.65 per Euro, the lowest since August 4, 2011, before being at 113.60, down 0.3% from yesterdays close. It dropped 0.3% to
Most Russian equities edged higher on Wednesday on soaring crude oil. However, the gains were capped by Consumer goods and services that stayed unchanged on concerns the U.S. lawmakers will fail to reach a budget deal until the deadline. The Micex Index advanced 0.2% to 1,475.79 by 3:45 p.m. in Moscow. The index has advanced 5.3% so far this year.
Most emerging-market equities advanced today on better earnings prospects for Chinese companies, yet investors are concerned over whether the U.S. lawmakers will compromise on resolving "fiscal cliff" before the deadline. Indian shares also slightly increased amid investors adding to their domestic shares' holdings. Meanwhile, India, having one of the worst performing currencies, faces inflation and economic slowdown that the nation
South Korean Stocks stayed flat on Wednesday, while data indicated the nation's consumer confidence failed to improve in December. The KOSPI index increased 0.02%, or 0.43 points, to 1,982.25, advancing from its previous close at 1,981.82. The KOSPI's turnover was at 3.5 trillion Korean won that was only 80% of its 30-session daily weighted average. Five out of nine sectors
Japanese equities gained on speculation the nation's new prime minister would launch more aggressive fiscal and monetary policies. The new prime minister Shinzo Abe pledged for more monetary easing and big government spending to recover the Japanese economy from its fourth recession. Meanwhile, the yen weakened to its lowest level since April 2011, boosting up the shares of exporting companies.
Most emerging-market equities advanced today on better earnings prospects for Chinese companies, yet investors are concerned over whether the U.S. lawmakers will compromise on resolving "fiscal cliff" before the deadline. Indian shares also slightly increased amid investors adding to their domestic shares' holdings. In addition, India, having one of the worst performing currencies, faces inflation and economic slowdown that the
South Korean equities stayed flat on Wednesday, while data indicated the nation's consumer confidence failed to improve in South Korean equities stayed flat on Wednesday, while data indicated the nation's consumer confidence failed to improve in December. The KOSPI index increased 0.02%, or 0.43 points, to 1,982.25, advancing from its previous close at 1,981.82. The KOSPI's turnover was at 3.5
Japanese equities gained on speculation the nation's new prime minister would launch more aggressive fiscal and monetary policies. The new prime minister Shinzo Abe pledged for more monetary easing and big government spending to recover the Japanese economy from its fourth recession. Meanwhile, the yen weakened to its lowest level since April 2011, boosting up the shares of exporting companies.
Farm commodities except for sugar jumped in holiday-thinned Monday's session despite weak risk-appetite among traders amid US fiscal concerns. Short-covering as well as drier-than-normal weather in Brazil created an upward trend for rural commodities. Wheat climbed on speculation that rains and snow in the US Great Plains will not be sufficient to boost crops that are struggling with drought. However,
Energy futures moved lower in pre-Christmas Monday trade amid growing likelihood that US lawmakers will not manage to agree on the next year's budget until January 1. Meanwhile, lower trading activity and lack of fundamentals may result in elevated volatility in the next sessions. The EIA weekly inventory report will be released on Friday instead of Wednesday due to Christmas
Industrial metals tumbled in short Monday's session as market participants shunned riskier assets amid growing uncertainty over US fiscal agreement. Strong US Dollar as well as weak global equities also added pressure on the base metals pack. However, recent positive US data restricted the downswing. Aluminum came under heavy pressure following elevated LME stockpiles. LME inventories surged to a record
Precious metals were mixed in quiet pre-holiday Monday trade amid broadly stronger US Dollar. However, rising pessimism over the US budget deal to avert so-called fiscal cliff was supportive for the commodity group. Potential recession in the US is likely to increase demand for safe-haven assets, especially for precious metals. Meanwhile, lower-than-normal activity during holidays is expected to spur volatility
UK stocks are trading higher in thin Monday's session despite weak sentiment as US lawmakers have not agreed on budget yet. Adding pressure on the UK blue chips, national home prices tumbled for the sixth month in a row in December amid soft demand for loans. The FTSE 100 Index added 0.22% to trade at 5,951.70. All but one sector
Russian shares are trading in the red area on Monday as worries over the US fiscal standoff continued to weight on global stock markets. Additionally, weak crude oil prices created heavy pressure on energy stocks, key drivers of the Russian stock index. Micex Index dropped 0.09% to trade at 1,476.15. Only two in nine industries included in the index were
Hong Kong stocks traded mostly higher on Monday after state-owned media announced more fund allocations of China's social security fund, raising hopes for more investment flow in the banking sector. Moreover, recently China's government has removed limitations on investments made by insurance firms into Chinese banks. The move spurred rally in financial stocks. However, the upswing remained capped by mounting