U.S. industrial production rose slightly above the economists estimates in December as an increase of manufacturing and mining output overshadowed a notable fall in utilities output, the Federal Reserve reported on Wednesday. The report revealed a 0.3% climb of industrial production in the last month of 2012 following a 1.0% gain in the month before.
Consumer prices in the U.S. remained stable in line with economists predictions in the last month of 2012 as food prices and energy costs increased, the Labor Department reported on Wednesday. Seasonally adjusted consumer price index recorded 0.3% in December, while costs rose 1.7% in 2012 following a 3% gain the year before. The core index excluding food and energy costs
Annual consumer price index in the 17-nation bloc remained unchanged at 2.2 % in December meeting the economists estimates, while the monthly inflation recorded 0.4% in the same month, the statistical office of the European Union reported on Wednesday. Inflation in all 27 states of the European Union was 2.3% following a 2.4% figure the prior month, while the monthly
Hong Kong stocks extended their losses on Wednesday, as investors closed their positions on stocks that outperformed the market such as China's financials prior to more data on the nation's economy at the end of this week. In addition, developers declined as the chief executive of the city announced the government might bound the real estate demand from overseas.
Japanese stocks fell sending the Nikkei 225 Stock Average to its lowest level since May 2012 after the yen appreciated the second straight day. The index slumped even though the Japanese machinery orders, capital spending indicator, rose almost 4% in November 2012. The Nikkei 225 dropped 2.6% to 10,600.44. All sectors in the gauge declined with technology shares losing
U.S. blue chips surged with the S&P 500 rebounding from earlier decline on improving retail and transportation companies. Retail sales climbed more than expected in December, showing Americans might be able to rise above Washington's budget ceiling to boost the economic growth. The Dow Jones Industrial average gained 0.2%, or 27.57 points, to 13,534.89. Five out of nine sectors in
The World Bank cut global growth outlook for 2013 as high unemployment, austerity measures and low business confidence put pressure on developed nations' economies. The bank forecast the global economy will grow at 2.4% compared to 3% projection in June after expanding 2.3% in 2012. It halved the forecast for Japan, lowered its outlook for the U.S. by 0.5 percentage
China's currency declined from the highest level in 19 years as the nation's central bank cut the reference rate 0.09%, the most since September 18 and concern increased that the world's economy fill face a setback. The Yuan lost 0.04% to 6.2162 per U.S. Dollar, having climbed 0.23% this month and touched 6.2124 on January 14, the highest level since
Australia's Dollar declined for a second successive day versus the Yen as consumer confidence was slightly changed from the lowest level in 2 months, adding to concern the South Pacific country's economy is slowing. The Aussie lost 1% to 92.86 yen and fell 0.2% to $1.0549, while the New Zealand Dollar bought 73.87 yen, 0.9% down, and was at 83.93
U.S. equities rallied on Tuesday, as an increase in retail and transportation firms offset rising concerns about raising the debt ceiling. The S&P 500 gained 0.1% to 1,472.34 after retreating 0.5% earlier in the session. Six out of ten groups in the benchmark gauge edged higher with consumer services jumping 0.55%, the most in the index. Dell Inc. capped
Energy futures apart from natural gas were bearish on Tuesday amid mixed US data and concerns over the US budgetary dispute. Broadly stronger US Dollar after better-than-expected US retail sales reading sent energy prices lower. Moreover, global growth concerns after the World Bank cut its global expansion estimate from 3% to 2.4% for this year weighted on the commodity group.
Industrial metals were mixed on Tuesday amid broadly stronger US Dollar and weak reading of the Empire State Manufacturing Index. Lingering concerns over the US debt ceiling debate also weighed on the market sentiment. At the same time, speculation that more pessimistic outlook on the global growth will stimulate easing measures by the world largest economies provided support for base
Precious metals prolonged their rally on Tuesday on hopes that central banks across the globe will provide more stimulus measures to boost economic expansion. The Word Bank lowered its global growth estimate from 3% to 2.4% for 2013, citing slower-than-expected recovery of the developed nations. However, gains were capped as upbeat US retail sales data sent the greenback higher.Gold climbed
Farm commodities were mixed on Tuesday, with grains extending previous gains and softs prolonging their decline. Grains continued to draw strength from recent cuts of US inventories by the USDA. At the same time, ample global supplies put notable pressure on softs. Wheat led gains on concerns over dry weather in the US Great Plains and western Midwest. Moreover, demand
U.K. blue chips extended their losses for a second straight day on hovering concerns over U.S. lawmakers failing to increase the federal government's debt-ceiling, pairing with disappointing data on Germany's economy. All but two groups in the index declined with technology and utility shares posting biggest losses, as they fell 0.49% and 0.48%, respectively. Anglo American paired biggest losses in
German stocks slumped the most in two months as the nation's economy shrank in the fourth quarter of 2012 on the weakening export demand and the sovereign-debt crisis. The DAX index declined 0.9% to 7,663.88, showing the biggest drop since mid-November. All but one group in the index edged lower. Only health care shares added 0.51% higher. SAP AG,
U.S. retail sales grew in line with the economists estimates in the last month of 2012 as the season of holiday shopping offset the negative mood from the fiscal cliff discussion at the end of the year, the Commerce Department reported on Tuesday. The report showed a 0.2% gain in retail sales in December following a November's increase of 0.3%,
Inflation in the U.K. stayed unchanged at the level of 2.7% for the third successive month in December, above the 2% inflation target of the Bank of England from 2009, suggesting the BoE not to start another round of stimulus program. The biggest impact on the inflation had prices of utilities rising 3.9% on the year, whereas fuel costs declined 0.2%."It's a
German annual inflation grew less than projected in the last month of 2012 as the harmonized index of consumer prices accelerated by 2% compared to prior expectations of 2.1% increase, the Federal Statistical Office reported on Tuesday. Monthly change of the harmonized index of consumer prices was 0.9% compared to November, less than forecast of 1% climb."Despite the difficult environment,
Hong Kong stocks slightly eased on Tuesday as investors sat on the sidelines after the stocks reached their highest level in more than one and a half year. The Hong Kong's Hang Seng index touched its 18-month during the session but closed 0.1% lower at 23,381.5 points. All but three sectors declined in the benchmark gauge. Technology, industrials, and financials
Japanese stocks advanced on Tuesday, sending the Nikkei 225 Stock Average to its 32-month high as Masaki Shirakawa, the Governor of Bank of Japan, said the central bank will keep pursuing powerful monetary easing. This happened after the Prime Minister Shinzo Abe said a bold policy leader should replace Shirakawa.The Nikkei 225 rallied 0.7% to 10,879.08, the highest level since
The U.S. shares, stayed flat with the Dow Jones Industrial Average slightly increasing 0.1%, or 18.89 points, to 13,507.32. Investors sat on the sidelines, as Chairman Ben Bernake's remarks pointed out that U.S. policy makers might be willing to wend the bond buying program prior to the end of year 2013. Five out of nine groups in the index edged
Copper futures with a three month settlement were lower by 0.2% to 7,984.50 a metric ton in the second part of Shanghai trading session on Tuesday. The current price level is the lowest since the 31st of December. Copper slipped lower, as Rio Tinto Group, the second biggest world's mining company, announced a better than expected mined output of the
U.S. stocks inched lower on Monday, as S&P 500 index dropped from its five-year high after shares of Apple Inc. tumbled on rising concerns about the iPhone sales. The most valuable company slipped 3.6% to $501.75, the first time in 11 months, as report showed Apple curbed iPhone production amid weak demand for iPhone5. The S&P 500 declined 0.1% to