Brent crude increased on Thursday trading session amid concerns that the level of oil production in Libya may fall amid political upheaval as the country's prime minister was detained and removed from Tripoli hotel. Brent for settlement in November gained $1.08 to $110.14 a barrel on the London's ICE Futures Europe Exchange and it was at $109.75 as of 9:50
Recession of the United Kingdom's economy is over if the output keeps increasing, however, the period of depression is more likely to continue, a survey revealed by the National Institute of Economic and Social Research showed on Wednesday. Performance of the UK's economy recorded a 0.8% growth in the Q3, while in the three months to August it added 0.9%.
German industrial production advanced at the faster pace than economists originally expected in the month of August after the country's capital goods recorded a notable rise suggesting that the nation's economy is improving, the Economy Ministry reported on Wednesday. The report showed that industrial output added 1.4% in August after falling 1.1% in the month before.
A leading indicator of the Organization for Economic Cooperation and Development area recorded an increase in August suggesting that the majority of countries' economies are improving, a data revealed by the organization showed on Wednesday. According to the data, OECD's leading index advanced from 100.5 in July to a level of 100.6 recorded in the following month.
United Kingdom's shop prices dipped in the month of September falling for the fifth successive month, a report released by the British Retail Consortium revealed on Wednesday. According to the report, shop prices in the UK dropped 0.2% in September after the rate recorded a 0.5% fall in the month before, when September's slide was the smallest since June.
Manufacturing sector in Germany, which accounts for 25% of country's economy, jumped 1.4% in August of this year on a monthly basis, while a contraction in July reached 1.1%. Economists, on average, predicted the production to add 1%. On the annual basis the second main sector of German economy increased slightly by 0.3%. Analysts say that German economic conditions continue
The Swiss National Bank President Thomas Jordan announced on Wednesday that it is not necessary to intervene into foreign currency markets, as the franc exchange rate is stable. The Central Bank, in turn, will keep its franc-euro ceiling of 1.20. The weakening emerging economies and government crisis in the U.S. creates pressure on franc, as investors look for safe currencies
Treasury of the United States has warned the country's lawmakers that consequences of inaction over U.S. budget and debt ceiling will result in recession. After October 17 the government will not be allowed to borrow any sum of money, therefore it will spend the only incoming revenues. In such the case, the government will pay all the interest on debt,
Barack Obama said on Wednesday that he is ready for negotiations over budget problems and debt ceiling if the House Republicans vote for reopening of the government and ending the Shutdown. While the government is closed already for ten consecutive days, the Congress still does not have any decision on budget. Moreover, Republicans, in turn, want budget talks to take
Apple Inc. announced on Wednesday that the company is going to offer its new iPhones 5C and 5S to customers in 30 more countries, including Russia, South Korea, the Baltics, Italy and Spain, starting from October 25. Alongside, during the first weekend of sales Apple sold record 9 million new devices. Apple Inc. equities are trading 0.27% higher to $482.22
Colgate-Palmolive Co plans to open a new factory in the Greenwood County in South Carolina, while the total investment will exceed $196 million. When the plant opens, more than 300 are planned to be generated. Colgate will use existing facility, while the region can provide a company will highly-skilled workforce. Colgate-Palmolive Co shares are adding 0.36% to $59.17 at 14:00
The Canadian currency dropped for a third consecutive day as the U.S. government could not find a compromise and remained shut. Canada's Dollar fell 0.1% to C$1.0376 per U.S. Dollar as of 7:49 a.m. Toronto time, after touching the lowest level since September 10. The Loonie has retreated 2.2% yearly versus its most-traded peers; however, U.S. Dollar gas advanced 2.8%
U.K. shares were little changed trading near the lowest level in three months on concerns that the U.S. government shutdown could lead to a default. The FTSE 100 Index gained 0.1% to 6,371.45 as of 10:18 a.m. London time; however, the gauge has fallen 3.9% from its highest level on September 19. The FTSE All-Shares Index were little changed, while
Gold swung between gains and losses on Wednesday as investors weighted persisting deadlock in the U.S. in debate between President Barack Obama and congressional lawmakers about the new debt ceiling. Bullion for delivery in October advanced 0.5% after it dropped 0.2% and it was at $1,318.86 an ounce as of 2:22 p.m. Singapore time.
United Kingdom's industrial output surprisingly dropped in August from the previous month mainly due to a 1.2% decrease in manufacturing production after it advanced two months in a row, a report released by the Office for National Statistics revealed on Wednesday. Industrial production in the UK slipped 1.1% in August, while it was forecast to gain 0.4%.
The United Kingdom trade balance came in deficit in the month of August, however, the trade balance narrowed as the pace of growth in exports exceeded imports, the Office for National Statistics reported on Wednesday. According to the report, exports of goods advanced by 1.1% on a monthly basis to 25.1 billion pounds, while imports slipped 0.1% to 34.7 billion
Asian shares outside Japan declined on worries that the U.S. government shutdown could end with a default and after the IMF cut its worldwide outlook. The MSCI Asia Pacific ex-Japan Index slipped 0.2% to 465.90 at 3:38 p.m. Tokyo time, while the broader regional equity-benchmark added 0.2% to 138.81. The Topix gained 1.5%, the most since September 19.
The British currency depreciated for a second straight day versus the greenback ahead of manufacturing data that are expected to show growth in August. The Sterling slipped 0.2% to $1.6054 as of 8:01 a.m. London time, after falling 0.1% on Tuesday, while the Pound was at 84.44 pence per Euro.
The U.S. President Obama will name Janet Yellen as the next Chairman of the Fed, meaning that the nation's central bank will be led by the woman for the first time in its history. The event will be held at 3 p.m. today Washington time, according to a White House official's statement. The Fed Chairman Ben Bernanke's term expires on
The Australian Dollar was near its strongest level in approximately three weeks ahead of domestic jobs data and after the statement that Janet Yellen will be nominated as Fed's Chairman. The Aussie gained 0.1% to 94.34 U.S. cents at 4:41 p.m. Sydney time after advancing 0.3% earlier, while the Kiwi traded at 82.88 U.S. cents, after climbing 0.4% on Tuesday.
The Japanese Yen depreciated versus all its most-traded peers as a White House representative stated that U.S. President Barack Obama will nominate Janet Yellen as the next Fed's head. The Yen dropped 0.5% to 132.14 per Euro at 6:52 a.m. London time, sliding for a second straight day, while the currency fell 0.6% to 97.41 per Dollar.
European shares dropped for a third straight day on investor worries that the U.S. government shutdown could end with a default. The Stoxx Europe 600 Index slid 0.3% to 305.87 as of 8:07 a.m. London time. The gauge has declined 1.3% weekly, after the U.S. Speaker Boehner stated that there will be conditions added before accepting a bill to raise
South Korean money supply growth decelerated in the month of August to the lowest level in two months amid slower increase of bank lending, a report released by the Bank of Korea revealed on Wednesday. According to the report, M2 money supply advanced 3.9% on a monthly basis in August, the least since July 2011, after it advanced by 4.6%
Reserve purchases of cotton in the world's largest consumer, China, have slowed down after the quality requirements were raised by the government, a report released by the textile research Sinotex.cn showed on Wednesday. Cotton for settlement in January was traded at 19,930 Yuan a metric ton as of 11:29 a.m. on Zhengzhou Commodity Exchange.