European stocks closed up on Friday as investors were optimistic about the results of upcoming Finance Ministers' meeting in Brussels due Monday. UK FTSE 100 index added 0.33%, German DAX rallied 1.42% and French CAC 40 index gained 1.37%. Meanwhile Stoxx Europe 600 index advanced 0.6% and Athens General Index jumped 5%.
The New Zealand's national debt for the second half of 2011 was close to the initial forecast, reported the New Zealand's Treasury. The operating deficit was only 3 million New Zealand Dollars higher than projected while services and goods tax revenues were lower than forecast. The outlook remains positive according to the country's government which plans to see a national
China's property market faced the worst performance in a year in January. Real estate prices dropped in the majority of the large cities last month, reported the NBS. Wenzhou hit the record, with prices falling by 0.6% over the month. Shanghai and Beijing both faced 0.1% price decrease in January. Experts attribute poor property market performance to government's policies aimed
The central bank of China announced that it will decrease the reserve requirement ratio by 50 basis points to 20.5% for large financial institutions and to 18.5% for the smaller ones. The decision will come into force from February 24 and is expected to provide additional 65.5 billion US Dollars to the country's market. Experts claim the cut is aimed
Jun Azumi, Japanese FM, confirmed his country together with China are ready to support Europe in tackling debt turmoil. Azumi said Japan may help the region through the IMF once Euro Zone countries implement their own measures. Japan agrees with China that Euro area needs a larger firewall to tame the crisis.
Canadian currency traded close to three-month record high on Friday as investors looked forward successful outcome of EU finance officials' meeting due Monday and Canadian January inflation rate climbed higher than expected. Loonie traded almost flat against the Greenback at CAD 0.9968. Currently USD/CAD is trading at CAD 0.9925.
Iran is looking for new customers for its oil as sanctions imposed by the EU nations will ban oil exports from the region. The full oil embargo will enter into force on July 1. The country is attempting to redirect extra 50,000 barrels of crude oil per day, or additional 23% to developing economies as India and China, reported two
US stock indexes mostly traded higher on Friday and finished the week on positive side as investors expected a Monday meeting in Brussels will provide a solution to Greek debt crisis. S&P 500 index gained 0.2% or 3.19 points and finished at 1,361.23. Dow Jones Industrial Average added 0.4% or 45.79 points, settling at 12,949.87. In contrast Nasdaq Composite index slipped
Thailand's economy shrank in the last quarter of 2011 amid severe flooding that impacted manufacturing activities of the country. The GDP contracted by 9% in Q4 of 2011 on a yearly basis and by 10.7% from the previous quarter, reported the NESDB. However, despite weaker than expected performance, the NESDB raised the economy's expansion outlook from between 4.5% and 5.5%
UK's real estate prices increased at the fastest pace in the last 10 years this month. The price jump was supported by the improved confidence and sales-tax holiday provided by the government that finishes in March, reported Rightmove. According to the index of Rightmove, the home prices soared by 4.1% in February on a monthly basis and by 1.4% on
Canada's consumer price index unexpectedly accelerated in January as value soared for all categories but leisure goods. The increase was mainly boosted by fuel and groceries. The inflation level surged annual 2.5% in January, compared to 2.3% advance in December. The current inflation level is above central bank's target rate of 2.0%.
D 1.0770 while Kiwi gained 1.0% to USD 0.8406. Currently AUD/USD is trading at US
The finance ministers of Euro Zone today in Brussels will attempt to close the talks related to Greece's second rescue package, write-offs among creditors and the role the ECB will play. Finance ministers are expected to finally reach an agreement, said Maria Fekter, Austrian FM. In case FMs will not manage to come to a consensus, the next round of talks will
Japan's trade deficit widened in January as slowing global demand and stronger Yen harmed local producer's profits and hindered country's recovery from March earthquake. The trade gap expanded to JPY 1.48 trillion (USD 19 billion) while shipments declined annual 9.3%. Economists questioned by Bloomberg predicted a deficit of JPY 1.46 trillion.
German DAX index posted gains on Friday on news ECB and European officials are progressing in closing agreement with Greece and US issued satisfactory economic data. Financial and car maker shares were the main gainers with Commerzbank AG adding 1.7% and Deutsche Bank AG surging 1.3%. Volkswagen AG jumped 2% after the car manufacturer posted a 1.3% advance in global
British FTSE 100 index traded higher on Friday, lifted by fresh news from Greece debt swap talks and data, indicating US economy keeps accelerating. Resource shares contributed most to the positive side. Anglo American PLC added 1.3% after company posted a 6% decline in net income but claimed it had optimistic long term outlook. Randgold Resources soared 1.8% while Tullow
Asian markets finished notably higher on Friday, lifted by US economic data and weaker Yen. Exporters supported major stock indexes on the upside. Hong Kong's Hang Seng Index jumped 1%, Japan's Nikkei Stock Average rallied 1.7% while South Korea's Kospi added 1.3%. Australia's S&P/ASX 200 gained 0.4% and Shanghai Composite index traded flat.
Japan's Nikkei Stock Average rocketed on Friday after Japanese currency plunged to 4-month record low on Goldman Sachs forecast the Yen will continue to decline. Nikkei 225 jumped 1.71% or 157.85 points and closed at 9,395.95 fuelled by export shares. Honda surged 2.4% while Toyota Motor and Mazda Motor each gained 0.6%. Inpex rallied 4.8% on accelerating crude prices. Trend
Hong Kong's Hang Seng index erased previous day's losses and rallied on Friday, supported by economic data and earnings reports. Hang Seng index rose 1.01% or 214.34 points and settled at 21,491.62 with exporters and financials climbing most. China Life Insurance gained 3.5% and Ping An Insurance Group added 1.6%. Foxconn International Holdings advanced 0.7% and Esprit Holdings jumped 5%
Dow Jones Industrial Average Index recovered on Thursday on positive job and housing data amid renewed optimism about Greece, as country expects to get bailout approval on February 20. Blue Chip index advanced 0.96% or 123.13 points and closed at 12,904.08 with 29 of 30 stocks posting gains. Microsoft led the gains, jumping 4% on news S&P is likely to
S&P 500 index rallied on Thursday as investors anticipated news the jobless claims fell to a three-year record low in January while housing starts surged. US benchmark jumped 1.1% or 14.81 points and finished at 1,358.04 with all 10 sectors posting gains. J.M. Smucker tumbled 8% after its net income and revenue missed estimates. The company raised prices for Jif
The New Zealand and Australian Dollars maintained weekly advances on news ECB is exchanging Greece's bills for new securities. Kiwi gained extra upward momentum as A. Bollard, New Zealand central bank's Governor claimed nation's economic performance to be understated. Kiwi appreciated 0.5% against US Dollar to USD 0.8368 while Aussie gained 0.2% to USD 1.0775. Currently AUD/USD is trading at USD
The number of new house start ups rose more than expected in the US in January, reported Commerce Department on Thursday. Starts added 1.5% to annual 699 000 compared to 689 000 in December. Economists questioned by Bloomberg predicted on average a growth of 675 000. The number of building permits also surged in January. Analysts suggest upward momentum in construction was
Canadian Dollar appreciated on Thursday as US Labor department reported record low number of unemployment claims received in the week ended February 11. Loonie climbed 0.3% against US Dollar to CAD 0.9966 after a sharp depreciation in previous trading sessions. Currently USD/CAD is trading at CAD 0.9965.