Emerging-market shares jumped on Wednesday together with a rally of emerging currencies after the Turkish national bank decided to hike its interest rates notable on an emergency policy session yesterday. The MSCI Emerging Markets Index gained 1.4% to 946.69 as of 3:33 p.m. Singapore time and was set to record its largest gain since November 18.
Consumption indicator in Switzerland improved in the last month of 2013 pushed up by notable growth in retail and automobile trade activity, the latest figures published by the UBS bank showed on Wednesday. The Swiss consumption index gained from November's 1.4 points to a level of 1.81 points recorded in the following month.
Consumer confidence in the Europe's largest economy improved in February rising for the fifth successive month as domestic demand recovered and as the economy may have gained a momentum, a survey published by the GFK group showed on Wednesday. German consumer confidence indicator rose from 7.7 points recorded in January to a level of 8.2 in the following month.
Retail sales in Spain declined in December falling for the second time in a period of three months, the latest data revealed by the statistical office INE showed on Wednesday. According to the report, the country's retail sales fell 1% on an annual basis in December after falling 1.8% in the previous month, while on a sequential basis retail sales
Industrial production in South Korea jumped in the last month of 2013 rising by more than economists initially expected, a report published by the Statistics Korea showed on Wednesday. According to the report, the country's industrial output rose on a monthly basis by 3.4% in December, while on an annual basis it advanced 2.6% from 0.8% in November.
A leading economic index in Australia dropped in the last month of 2013 suggesting that the performance of Australian economy may lose its momentum in 2014, the latest data revealed by Westpac and the Melbourne Institute showed on Wednesday. The country's index of economic activity fell from 1.12% in November to 1.06% in December.
Consumer confidence in the world's largest economy improved in January rising for the second successive month and on a faster rate than economists originally expected, a report published by the Conference Board showed on Tuesday. According to the report, the U.S. consumer confidence index added from December's 77.5 to a level of 80.7 recorded in the following month.
The U.S. Dollar advanced on Wednesday session rising against the Euro and the Japanese Yen after the Turkish national bank hiked its interest rates in a dramatic fashion easing concerns over less liquidity on emerging markets. The so-called Greenback added 0.4% to 103.34 yen after falling to the lowest level in seven weeks at 101.77, while it gained 0.1% to
U.S. shares closed higher on Tuesday session after pharmaceutical company Pfizer reported favourable earnings report bringing optimism on markets as the benchmark index Dow Jones fell for five straight session. The Standard & Poor's 500 Index added 0.61% to 1,792.50, the Dow Jones industrial average gained 0.57% to 15,928.56 and the Nasdaq Composite Index surged 0.35% to 4,097.96.
Turkey's national bank decided to increase all of its benchmark interest rates at an emergency policy meeting yesterday despite an opposition of the Prime Minister Tayyip Erdogan defending the country's weak currency. The Turkish central bank raised lending rate in dramatic fashion from 7.75% to a level of 12%, while the one-week repo rate was increased from 4.5% to 10%.
The majority of Asian shares increased on Wednesday trading session after the Turkish national bank hiked its benchmark interest rates by 445 basis points to a level of 12% and as India's central bank decided to tighten its monetary policy few days ago too. The MSCI Asia- Pacific gauge outside Japan advanced 1.2% following a three-day slump.
Canadian shares gained, after the biggest three straight day retreat since June, as global equities bounced off and commodities producers rose. The Standard & Poor's/TSX Composite Index climbed 0.5% to 13,643 as of 10:15 a.m. Toronto time; however, it closed at the lowest level in three weeks on Monday, after sliding 2.9% since January 22.
U.K. shares gained for the first day out of last six as nation's economy expanded previous year by the fastest pace in six years, outperforming data that indicated on unexpected decline in U.S. durable goods orders. The FTSE 100 Index added 0.3% to 6,567.7 as of 1:51 p.m. London time. The FTSE All-Share Index gained 0.3%, while Ireland's ISEQ Index
U.S. shares gained, after regional benchmark Standard & Poor's 500 Index declined for a third straight day, as Ford Motor Co. earnings topped forecasts and consumer sentiment raised. The S&P 500 added 0.5% to 1,791.22 as of 10:07 a.m. New York time, while the Dow Jones Industrial Average advanced 0.6% to 15,929.98. The S&P 500 fell 3.4% in the last
The U.S. Dollar reversed gains versus a majority of most-traded peers after durable goods dropped surprisingly in December. The Japanese Yen slipped 0.2% to 102.74 per Dollar after falling 0.7%; however, it reached 101.77 on Monday, the highest level since December 6. Japan's Yen declined 0.2% to 140.44 per Euro, while the greenback traded at $1.3670 per Euro.
The British currency remained below $1.66 after Britain's last quarter growth report that missed some analysts' forecasts. The Pound slid 0.1% to $1.6564 as of 12:44 p.m. in London, after gaining to $1.6668 on January 24, the strongest level in almost three years. The Sterling appreciated 0.1% to 82.36 pence per Euro after climbing to 82.23 pence.
Royal Philips NV, one the biggest consumer electronics companies in the world, reported a higher than forecasted profit for the fourth quarter of 2013. EBITDA surged 20% to 0.92 billion euro, as the CEO of the Dutch company cut spending for producing the medical equipment on declining demand. Now, Royal Philips NV stocks are plummeting 1.6% to 26.06 euro in
West Texas Intermediate crude added on Tuesday and was traded close to the weakest level in a week on speculation that the next government report may show an increase in stockpiles in the U.S., the world's largest oil consumer. WTI for settlement in March rose as much as 40 cents to $96.12 per barrel on the NYMEX by 4:25 p.m.
Siemens AG, the biggest engineering company in Europe, posted a much better than predicted profit for the last quarter of the previous year, as net income in the infrastructure unit doubled. Net revenues for Q4 rose 21% to 1.39 billion euro, while economists expected the profit to reach 1.33 billion euro. Siemens AG shares are rising 0.71% to 98.00 euro
Natural gas traded in New York increased on Tuesday session rebounding from the largest slump in nearly nine months after the National Weather Service in the U.S. reported an arctic cold weather for the next few days. Natural gas for settlement in February jumped 2.3% to $4.956 a million British thermal units on the NYMEX and was last seen at
Consumer sentiment in France advanced in January rising for the second successive month, while it was forecast to remain unchanged, a report published by the statistical office Insee revealed on Tuesday. The country's consumer confidence index gained to 86 from December's level of 85 and November's 84.
Consumer confidence in Italy improved in January rising by more than economists originally expected, a report published by the statistical office Istat showed on Tuesday. According to the report, Italian corresponding index gained from December's 96.4 to a level of 98 recorded in January, while it was forecast to advance to 96.7.
The European largest economy began this year with a notable momentum as recent economic data signaled, the latest report published by the Capital Economics revealed, with the business confidence gaining on rising level of expectations among entrepreneurs. The Ifo Institute's business climate index added to 110.6 in January exceeding initial estimates for the month.
Germany's shares gained on Tuesday trading session pushing the benchmark index DAX towards the strongest level in five days after some companies from Siemens to Software AG report favourable earnings reports. The local benchmark stock index DAX surged 0.7% to 9,415.24 as of 9:40 Frankfurt time after it declined in the previous four sessions by 3.9%.