According to the research of German Bundesbank, the property prices in the country are strongly overvalued, probably by 20%, as the demand for new houses surges on a faster pace than construction. It is said that apartments in Berlin, Frankfurt, Stuttgart, Hamburg and Munich became 25% more expensive since 2010, while one of the reasons of such an increase could
Royal Philips NV increased its net profit for the third quarter of this year amid higher than predicted demand for lighting bulbs. Moreover, the Dutch company has cut 6,700 jobs, reducing costs by 1.1 billion euros. Earnings jumped 33%, reaching 634 million euros, beating the analysts' estimates. Royal Philips NV shares are trading 6.45% up to 26.00 euro per share
Shanghai Metersbonwe Fashion & Accessories Co. climbed 10%, while the Shanghai Composite Index added 1.6% to 2,229.24, the highest advance since October, after Chinese government called for implementation of policies that will increase financial aid for small businesses, reduce overcapacity and boost domestic consumption. The CSI 300 Index gained 1.9% to 2,471.32 and Hang Seng China Enterprises Index sank
United Kingdom's house prices increased in October after recording two successive months of drops as prices in London reached an all-time high, a survey released by the Rightmove unveiled on Monday. The survey showed that average property prices gained 2.8% on a monthly basis standing at GBP 252,418 in October after they decreased 1.5% and 1.8% in September and August
Industrial orders in Italy declined for the tenth successive month in August, and at a notably faster rate than in the month before, the latest data revealed by the statistical office Istat showed on Monday. Italy's industry new orders dropped 6.8% on an annual basis on August following a 2.2% fall recorded in the previous month, while on a monthly
Producer prices in Germany dropped for the second successive month in September, when the decline exceeded original forecast, a report published by the statistical office Destatis showed on Monday. According to the report the country's producer prices fell 0.5% year-on-year in September and August, while the prices were projected to record a 0.7% slide.
Wheat jumped on Monday gaining for the third straight session to the strongest level in a four-month period amid concerns that global supplies may be curbed on damaged crops in Argentina caused by cold and dry weather. Wheat for December delivery advanced 0.8% to $7.1125 a bushel on the CBOT, the most since June 21, and the prices were at
Copper traded in London advanced on Monday rising for a second day after a report showed that imports of refined metal in the world's largest user, China, jumped 18% to 347,305 metric tons in the month of September. Copper for settlement in January gained 0.3% to $7,267.75 a ton as of 8:05 a.m. after the prices rose 0.2% on October
West Texas Intermediate crude fluctuated on Monday after falling 1.2% last week before a report showed that inventories in the U.S., the world's largest oil consumer, advanced to the highest level in three months. WTI for settlement in November expiring tomorrow was traded at $100.66 a barrel on the NYMEX and it fell 15 cents as of 2:49 p.m. in
Asian stocks increased on Monday pushing the local benchmark index to the strongest level in five months amid concerns that the Federal Reserve will maintain its bond buying program totaling $85 billion a month. The MSCI Asia Pacific Index gained 0.2% to 143.69 by 5:16 p.m. Tokyo time as two shares rose for each that dropped.
Emerging-markets shares decreased on Monday falling from the highest level in five months mainly due to declines of raw material producers and industrial companies and as internet companies shares rose. The MSCI Emerging Markets Index dropped 0.1% to 1,041.20 as of 4:15 p.m. Hong Kong time after it gained four days in a row pushing the index's RSI indicator to
The Pound traded at $1.6169 as of 7:42 am in London, after reaching $1.6225 on October 18, the highest level since October 3, as UK GDP is expected to rise by 0.8% in Q3, according to Office for National Statistics releases. The Pound added 0.2% to 84.52 pence per Euro as of 9:46 in London after adding 0.3% last week.
Japan's economy leading index dropped in the month of August, although the pace of fall was lower than economists originally projected, a report published by the Cabinet Office revealed on Monday. According to the report, the leading index declined from a level of 107.9 recorded in July to 106.8 in August, while the forecast showed the indicator to record 106.5.
The Australian Dollar was little changed on Monday after it advanced to the highest level in eight days as technical analysis showed that the currency is set to reverse. The so-called Aussie was traded at 96.76 U.S. cents as of 3:46 p.m. Sydney time following a 2.7% increase, the most in eight sessions on October 18, when it touched 96.78,
U.S. Treasuries were little changed on Monday as the Federal Reserve announced maintaining its $85 billion bond-buying programme in order to reach its inflation target and before a report showed that payrolls in the country increased last month. The benchmark 10-year government bonds added one basis point to 2.59% as of 1:32 p.m. Tokyo time.
The Japanese Yen declined on Monday falling versus all its 16 most-traded peers as the country's exports slowed down amid weaker emerging-markets demand and as the Bank of Japan decided to maintain its stimulus program in order to achieve target inflation. The Yen fell 0.3% to 97.99 per U.S. Dollar at 6:01 a.m. London time and it dropped 0.2% to
Japanese exports increased in the month of September, however the rate of growth was shy of a forecast mainly due to lower demand from emerging economies offsetting weaker Yen, a report released by the Ministry of Finance showed on Monday. Japan's exports grew 11.5% in September compared to 15.6% originally forecast, while in August exports added 14.6%.
The U.S. Dollar dropped on Monday and traded close to its lowest level in eight months against the majority of its counterparts amid concerns that the Federal Reserve may scale back its monthly bond-buying program until the impact of partial government shutdown will be clearer. The Dollar index stayed at 79.675 near a level of 79.478, the least since February.
Australian stocks increased on Monday rising to the highest level in five years as investors' confidence advanced amid new highs reached on Wall Street on speculation the Fed may be wary of winding back its monthly-bond-purchases program. Australian shares rose to a five-year high supported by last week's report showing China's GDP improved.
Chinese currency increased for a fourth straight day, the highest weekly increase since May, as the US government partial shutdown and the budget ceiling deadlock ended this Wednesday. The Chinese Yuan climbed 0.4% versus the US Dollar on Thursday to 6.0950 per greenback in onshore RMB market before fetching 6.0982.
The UK's benchmark stock index gained for a seventh straight day as China's GDP rose 7.8% in the third quarter, according to National Bureau of Statistics. The FTSE index climbed 19.52 points to 6,595.68 as of 11:32 in London. Prudential Plc, UK's biggest insurer, added 2.9% to 1,249 pence. William Hill slid 3.2% to 403.5 pence. Spectris Plc advanced 1.1%
German 10-year yield sunk three basis points to 1.84% as of 10:23 am in London after touching 1.83%, the weakest since October 10 as, according to Fed President Charles Evans, the Federal Reserve is unlikely to start tapering its assets-buying stimulus. The price for 2% security note due in August 2023 added 0.28 to 101.46.
The so-called loonie appreciated 0.4% to C$1.0289 per US Dollar at 5 pm in Toronto, reaching C$1.0281, the highest since September 30, amid optimism Federal Reserve will maintain monetary stimulus and delay any reductions, while borrowing limit and extended government funding deadlines are postponed until next year. The Australian currency is traded at 97.19 US cents.
Charles Evans, Chicago Fed's President said on Thursday that the Federal Reserve will most likely continue its quantitative easing program, as the economic conditions in the country were slightly damaged during the Shutdown, but official GDP and other data will be available later. Analysts say that during the 16-day long Shutdown the economy lost $24 billion or 0.6% from its