Industry metals managed to climb despite weak US industry data as news on further China's easing bolstered the base metals pack.Aluminum was the top-gainer amid indication of fresh liquidity pumping in Japan and China.Copper followed bullish trend as the red metal was lifted by inspiring news from China and Japan. However, disappointing US economic data and elevated inventory levels at
Precious metals found support on the escalating concerns over the US economy that may stimulate new round of quantitative easing in the country.Gold was marginally higher amid persistent Euro Zone's debt woes and anxiety over the US labour market and industrial activity.Silver gained momentum from rumour about France credit rating downgrade and speculation that Netherlands were placed on a negative
Japan's Nikkei Stock Average slightly declined on Friday as investors gathered news from US. Losses were limited as depreciating Yen provided support for most exporters. Nikkei 225 index slipped 0.28% or 27.02 points and closed at 9,561.36. Olympus rallied 6.4% after the camera producer's shareholders elected new management led by ex-banker Yasuyuki Kimoto. JFE Holdings tumbled 3.3% despite reporting it
Hong Kong's Hang Seng index traded almost flat on Friday as early losses were erased by investor hopes for soon monetary easing from POBC. Hang Seng index added 0.07% or 15.63 points and closed at 21,010.64. AIA Group gained 0.35% after insurer posted a 27% improvement in the value of its new business during the 1st quarter. On the downside
Dow Jones Industrial Average index declined on Thursday amid weaker Philadelphia manufacturing index and persisting concerns about Spain. Blue chip index shed 0.53% or 68.65 points and closed at 12,964.10 with 27 of 30 companies posting losses. On the upside The Travelers surged 3.8% after a strong earnings report. Alcoa and DuPont Co. each dropped 1.2%, as traders sold stocks
S&P 500 index extended losses on Thursday as weaker than expected macroeconomic data including jobless claims and existing home sales erased gains from better earnings reports. US index lost 0.59% or 8.22 points and finished at 1,376.92. Ebay rallied 13% after its profits and sales results beat analyst predictions. On the downside Apple Inc fell 3.4% after Verizon Communications said
Asian markets traded mixed on Friday as losses from disappointing US data were partly offset with signals of monetary easing. Japanese Nikkei 225 index dropped 0.3%, South Korea's Kospi sank 1.3% while Australian S&P/ASX 200 added 0.1%. Hong Kong's Hang Seng index gained 0.1% and Shanghai Composite advanced 0.1%.
Canadian currency fell against its US counterpart for a second straight day as the number of unemployment claims declined less than expected, harming willingness to purchase assets linked to growth. Canada's Dollar depreciated 0.5% versus greenback to CAD 0.9957 on Thursday. Currently USD/CAD is trading at 0.9945.
US stocks traded lower on Thursday as data showed jobless claims fell several times less than predicted, while manufacturing activity in Philadelphia slowed and existing home sales declined. S&P 500 index lost 0.59% or 8.22 points and finished at 1,376.92, Dow Jones Industrial Average index shed 0.53% or 68.65 points to 12,964.10. Nasdaq Composite gave up 0.79% or 23.89 points
European markets traded in negative area on Thursday on speculation France might be downgraded by Fitch (later denied). Despite successful bill auction, Spanish borrowing costs climbed adding pressure on stocks. Further decline was fuelled by several weaker macroeconomic data from US. Stoxx Europe 600 dropped 0.5%, French CAC slipped 2.1% and German DAX declined 0.9%. In contrast FTSE 100 traded flat.
Gold prices were slightly higher in Asian session on Friday as US Dollar index that tracks the greenback's performance against the set of six main currencies lost 0.04% to 79.67 US Dollars. COMEX gold June contract traded at 1,644.55 US Dollars per troy ounce on the New York Mercantile Exchange, advancing by 0.19%.
Span faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
Crude oil futures retreated during Asian trading hours amid broadly weaker US Dollar after disappointing industry data from the US. Light, sweet crude oil futures for delivery in June traded at 102.94 US Dollars per barrel on the New York Mercantile Exchange, declining by 0.21% since opening.
The tertiary industry performance index of Japan remained steady in March, according to METI. The tertiary industry activity index remained at 0.0% on a seasonally adjusted basis. Experts predicted the index to expand by 0.8% in March. After the data release, the Japanese Yen remained marginally higher versus its US counterpart and USD/JPY traded at 81.57 during Asian session, edging
Manufacturing index measured by Federal Reserve of Philadelphia dropped more than predicted in April. The measure fell from 12.5 in March to 8.5 in April. Economists questioned by Marketwatch forecast the gauge to decline less to 10.8. Any figure above zero means that more producers are amplifying their businesses instead of contracting.
Sales of US existing homes unexpectedly declined in March, the third time during last four months, indicating disproportionate recovery in the property market. previously owned home purchases fell 2.6% to a annual 4.48 million compared to annual 4.6 million rate in February. Economists questioned by Bloomberg predicted an increase to 4.61 million. Nevertheless housing market follows upward trend in last 9
The number of applications for US unemployment benefits unexpectedly fluctuated close to four-month record high last week, signalling the recovery may be slowing. Jobless claims declined by 2000 from a reviewed 388 000 to 386 000 during the week that ended April 14, Labor Department reported on Thursday. Economists questioned by Bloomberg earlier predicted a fall to 370 000.
Rural commodities continued to fall as excellent weather conditions in the key planting regions escalated worries over surplus in the market.Sugar was the top-loser after India reported it plans to allow additional one metric ton of the sweetener's exports this year to ease oversupply in the domestic market.Coffee rebounded after previous lows as concerns over record low Colombian crops provided
Energy commodities were exposed to the inventory buildup at the US warehouses and global demand worries as economic state of the Euro Zone remained uncertain.Crude oil erased previous gains after the EIA reported about 3.9 million barrel increase in the US inventories. Brent oil followed crude oil as faster than planned reversal of the Seaway pipeline in the US narrowed
Industry metals lost momentum lent by the global growth outlook improvement and slid along with weakening global equities and uncertainty over China's demand.Aluminum followed bearish trend provoking an increase in the number of short. However, spot demand started to improve as the US and Japan's economies commenced to recover.Copper was flat as risk-sentiment was dented by the Euro Zone's debt
Precious metals continued to be pressured by renewed concerns over the Euro Zone's debt crisis ahead of the key Spain's bond auction on Thursday that will define a future trend of the commodity group.Gold tumbled amid the greenback's strength against the Euro caused by escalated concerns about the Euro Zone's growth perspectives. Weak physical demand from Asia also contributed to
German DAX index traded mixed on Thursday. It climbed in the first half of session but retreated later as US jobless claims unexpectedly increased to 386 000 last week. Carmakers and financials led the losses for the index. BMW AG and Daimler AG each dropped 0.5% and 2.2% respectively while Commerzbank and Deutsche Bank slipped 1.3% and 0.8%. Beiersdorf jumped
British FTSE 100 index recovered on Thursday lifted by financial and resource stocks as commodity prices climbed. The gains were limited as Spain sold its benchmark 10-year bonds at higher yield than at previous auction. Hargreaves Lansdown rallied 3.6% on news its assets surged by GBP 2.6 billion in the 1st quarter, reaching GBP 26 billion. Engineering group IMI gained
Japan's Nikkei Stock Average fell on Thursday, breaching the upward trend across the region as investors awaited the results from French and Spanish debt auctions. Nikkei 225 index gave up 0.82% or 78.88 points and finished at 9,588.38. Nippon Sheet Glass tumbled 7%, the lowest since 1976 as its CEO Craig Naylor resigned after a conflict with the board about