Eurozone's government bonds increased on Friday amid speculation that the European Central Bank may cut the benchmark interest rates as early as the next policy meeting taking place next as the 17-nation bloc inflation is shy of target of 2%. Spanish 10-year yields dropped 0.02% to 4.02 after the rates fell to 3.98% yesterday, while German 10-year bunds yielded at
Government bonds in Italy advanced on Friday pushing the benchmark 10-year yield towards the weakest level since June amid speculation that the ECB may cut its interest rates on the next policy meeting. Italian 10-year yields decreased three basis points, or 0.03%, to 4.10% as of 1:47 p.m. in London following a drop to 4.08%, the least since June 5.
U.S. shares advanced on Friday after the benchmark index S&P 500 recorded its first two-day fall in a three-week period before a government data showed that manufacturing sector improved and amid speculation that Fed may curb stimulus sooner than expected. The S&P 500 Index surged 0.3% to 1,762.14 as of 9:51 a.m. New York tome and it has risen 0.1%
One of the largest U.K. banks, the Royal bank of Scotland, plans to create a new internal division to keep there all bad assets. Recently, the U.K. Chancellor of Exchequer George Osborne denied the separation of the RBS into two different banks. The new division will acquire 38 billion pounds of bad debts. Moreover, the bank is going to write
According to the YouGov latest poll of U.K. businesses, 46% of 1,024 respondents said that the cost of matching all European Union regulations is much higher than the amount of economic benefits the businesses get from the membership. Such a view is supported by the Conservative party, which promises to hold the EU in-and-out referendum in 2017, if it wins
Sovereign credit rating of Ukraine, the largest country in the Eastern Europe, was cut by S&P rating agency to B- level from the previous B level. It is said that such a decision was made, based on the negative outlook for country's national currency, which can be devalued due to lack of reserves of foreign currency. Now, the new Ukrainian
Danske Bank A/S, the largest bank in Denmark, is currently working on the effectiveness increase in order to get a rating upgrade under a new management team with CEO Thomas Borgen. Bank's current rating from Moody's is Baa1, while Nordea bank holds four-step higher rating of Aa3. Today, Danske Bank A/S shares are trading up 1% to 129.60 Danish kronor
Mario Draghi, the president of the European Central Bank, announced on Friday that the Eurozone will face a considerable deflationary risk in the nearest future, as the inflation rate in the single currency region dropped to 0.7% in October from 1.1% in September, still being below the 2% target rate. Moreover, the ECB has few options remaining to deal with
Manufacturing industry in the United Kingdom continued to show an increase in activity, as the benchmark PMI Index, which evaluate the level of activity in this particular sector, decreased slightly to 56 points in October, still being above 50 points. Analysts say that the U.K. manufacturing sector may significantly influence economic growth, even though it accounts for only 11% of
The Eurozone's currency depreciated against it's major peers, on speculations that European Central Bank is going to reduce interest rates in the upcoming week, while the unemployment rate in the Euro-area jumped 12.2% to a record high. The Euro retreated 0.4% against the U.S. Dollar, thus having five day loosing streak with 2% drop this week. The shared currency also
Australia's Dollar advanced against its major peers, after China announced increase in manufacturing activity. Improvement of China's economy is especially good for Australians, because most of their exports goes to China. The Aussie surged 0.44% against the Eurozone's currency and 0.33% versus the U.S. currency, however the Australian Dollar is still set for 1.1% weekly drop against the U.S. currency.
Today Asian stocks faced decline, from which the biggest drop had for Japan's Topix index of 0.9%, while the MSCI Asia Pacific Index retreated 0.3%.The Sony Corp. tumbled 11%, thus having the biggest fall in five years, after their full-year profit forecast decreased 40%. The NTT Data slipped 4.8%, after announced lower full-year forecasts. Panasonic Corp. gained 6.2%, thus having five day
The Japanese Yen appreciated against all of it's 16 major counterparts, after a decrease in stocks led to a change in investors attention for safe-haven currency. The Yen had most significant advance of 0.59% versus the shared currency, thus reaching the highest level in three-weeks, after reported that Eurozone had record-high unemployment rate in September. The Yen also advanced 0.37%
Germany's 10-year bonds dropped one basis point to 1.7% at 8:08 a.m. in London, after touching 1.69%, the weakest since August 12, as U.S. economy is gradually growing, while the German consumer sentiment index unexpectedly dropped from six-year high to 7.0 points in October. The 2% security note maturing in August 2023 declined 1.25 Euro per 1,000-Euro nominal value, to
The 10-year Treasuries advanced two basis points to 2.56% as of 12:02 p.m. in New York, after reaching 2.57%, the highest level since October 22, as Chicago business barometer unexpectedly jumped to 65.9 this month from 55.7 in September, against the economist's expectations of 55.0, showing the business activity growth. The price for 2.5% security note due in August 2023
The Pound appreciated 1.0% to 84.79 pence per Euro as of 3:15 p.m. in London, reaching the highest level since April 25, as the ECB is likely to reduce interest rates next week, to encourage economic growth, which is inhibited by low inflation rate and increasing unemployment. Meanwhile, the currency is traded at $1.6047.
The Eurozone currency depreciated 0.9% to $1.3610 as of 10:48 a.m. in New York, the sharpest fall since June 20, after unemployment data showed a record high 12.2% rate, while the inflation dropped to 0.7% in October, from 1.1% a month earlier, moving far from ECB's 2.0% target. Despite the fact that European economy escaped from recession, the ECB expects
Initial claims for unemployment benefits dropped by 10,000 to 340,000 last week, which is 2,000 less than expected, as applications backlog in California, caused by computer system upgrade , has been cleared, Washington Labor Department revealed today. Meanwhile, the number of job-seekers who receive state benefits rose by 31,000 to 2.88 million, two weeks earlier.
The seventeen-nation's inflation rate declined to 0.7%, the lowest level since 2009, receding from ECB's 2% target,as energy prices dropped by 1.7% this month, almost twice as in September, while the unemployment rate continue to grow. Nevertheless, the ECB makes optimistic forecasts of 1.5% inflation rate later this year, and 1.3% in 2014.
Japanese government should decrease the corporation tax in the country in order to boost economic growth and encourage entrepreneurship. Etsuro Honda, an economic adviser of the Prime Minister Shinzo Abe said that it is reasonable to lower the tax to Germany's level of 29%. Moreover, the OECD supports the idea, adding that this point should b included in Abe's reforms'
According to the MNI Chicago Report, sentiment of the business in the United States climbed to 65.9 points in October of this year from 55.7 points in September. At the same time, economists forecasted the index to decrease and reach 55 points, while no one predicted it to surge above 60 points. It is worth pointing out that the reading
Exxon Mobil Corp., the most valuable oil company in the world, increased its natural gas and oil production by 1.5% during the third quarter of this year to 4.02 million barrels per day. At the same time, the quarterly net profit of the company declined 18% to $7.87 billion from $9.57 billion a year earlier. Today, Exxon Mobil Corp. shares
Wheat fell on Thursday declining from the weakest level in more than a four-week period amid speculations that demand for U.S. supplies may be reduced as India plans to boost its exports. Wheat for settlement in December slipped 0.3% to $6.7325 a bushel on the CBOT, the lowest level since October 1, and the prices traded at $6.74 as of
Gold lost on Thursday falling for a third straight day and trimming its monthly gain amid speculation the Federal Reserve may begin scaling back its $85 billion a month bond purchases program sooner than economists expect. Bullion for delivery in October slid 0.7% to $1,335.30 an ounce and traded at $1,335.70 as of 2:22 p.m. Singapore time.