Retail sales were anticipated to grow 0.3%, yet the index advanced 0.4% in August compared to 0.1% gain in July as low interest rate bolster consumer spending. Consumer confidence index advanced 4.7% signaling that households are more confident regarding country's economy, which is buoyed by 6.4% increase in department store sales after 7.9% fall in July.
European stock-index futures advanced, indicating the Stoxx Europe 600 Index will recover from its biggest slump during one-month time, as investors weighed the impact of U.S. government's partial shutdown. December futures on the Euro Stoxx 50 soared 0.3% to 2,887 as of 7:23 a.m. London time. S&P's 500 Index futures added 0.2%, while contracts on the U.K.'s FTSE 100 Index
Gold extended losses on worries that the first U.S. government partial shutdown in almost two decades will end soon as the officials have to seek for a compromise. The yellow metal price dropped 0.3% to $1,324.95 an ounce, prolonging Monday's 0.6% loss, and traded at $1,328.35 as of 12:24 p.m. Singapore time, while the platinum declined 0.6% to $1,395.13 an
Large manufacturers' sentiment rallied to the highest level of 52.5 since the debt crisis broke out amid steps to mitigate increase of sales-tax, which is claimed to become 8% instead of 5% in April. Gain in business confidence across various sectors shows that Japan economy is improving, yet salaries went down 0.4% year-on-year and unemployment rate rose to 4.1% in
European shares retreated the most in four weeks, reversing the best three months in last four years, as the U.S. experienced government shutdown for the first time in 17 years. The Stoxx Europe 600 Index dropped 0.6% to 310.46 at the end of trading, the biggest decline since August 30; however, the equity-benchmark has advanced 4.4% in September.
Asian shares gained, bolstered by Japanese stocks, after Japan's Prime Minister Shinzo Abe stated the government will increase its sales tax; however, gains were limited as the U.S. government has its first partial shutdown in almost 20 years. The MSCI Asia Pacific Index added 0.3% to 138.96 at 2:37 p.m. Tokyo time and the gauge has climbed 6.4% in September.
The Canadian currency reached the highest level in four days after gross domestic product data showed growth in July, fueling the speculation that nation's economy is bouncing off from a slowdown in the second quarter. Canada's Dollar strengthened 0.3% to C$1.0275 per U.S. Dollar before reversing advances at the end of the day reaching C$1.0309 at 5 p.m. Toronto time.
At midnight the U.S. government went for partial shutdown as Republicans and Democrats did not manage to reach consensus on Obamacare, yet major negotiations on debt limit increase still to come. The shutdown will hurt consumers' and businesses' confidence and is expected to decrease GDP by 300 million Dollars a day, which will weaken pace of country's economic recovery.
The Aussie rose versus 15 of 16 its most-traded peers after better than expected retail sales and that supported worries that nation's central bank will not cut interest rates today. Australia's currency gained 0.2% to 93.37 U.S. cents after reaching 92.81 on Monday, while the Kiwi added 0.1% to 83.08 U.S. cents.
Italy's inflation measured as harmonized index of consumer prices (HICP) slowed down more than economists initially forecast in the month September, a report released by the statistical office Istat revealed on Monday. The report showed that the HICP advanced 0.9% year-on-year in September after it added 1.2% in the month before, the same level as recorded in July.
Mortgage approvals for house purchases in the United Kingdom advanced more than originally expected in August rising to the highest level since February 2008, a data published by the Bank of England unveiled on Monday. The data showed that mortgages granted by lenders stood at 62,226 in August, up from 60,914 in July, while it was forecast to grow to
Current account surplus in Spain advanced notably in the month of July from the same period last year mainly due to a foreign trade improvement, a government data showed on Monday. According to the data, current account came in surplus of 1.63 billion euros in July exceeding a level of 825.5 million euros recorded in the month last year.
Public debt in Spain is projected to increase to around 100% of gross domestic product by the end of 2014, according to the draft budget proposal released by the Budget Ministry on Monday. Spain's public debt will rise to 99.8% in 2014 from a level of 94.2% this year, while pension payments will advance 0.25% by the end of 2014.
European stocks retreated to lowest level in two weeks as the U.S. faces the government shutdown and the Prime Minister of Italy, Enrico Letta struggles to save his administration. The Stoxx Europe 600 Index lost 0.6% to 310.34 as of 3:31 p.m. London time, while it has still gained 4.3% this month as the Fed did not taper its monthly
Siemens AG, one of the leading engineering companies in the world, announced around 15,000 job cuts worldwide, as the company is missing its profit estimates. This amount represents about 4% of all Siemens workforce. Company's new CEO Joe Kaeser confirmed that a third of all job positions will be eliminated in Germany. Today Siemens AG shares traded down 1.07% to
Chicago PMI, one of the most valuable indicators to evaluate the health of the U.S. economy, jumped to 55.7 points in September of this year, while a month earlier the index was at 53 points. The majority of economists forecasted the index to increase slightly to 54 points. Chicago PMI advances for the third consecutive month, while new orders soared
U.S. Treasuries advanced on Monday to the seven-week highest level, as investors fear the country's government crisis, as Democrats and Republicans cannot reach the deal over the next year's budget. Moreover, if the deal is not reached until the midnight, over 800,000 federal workers will have to take unpaid vacations. U.S. 10-year notes yields lost 0.01% to 2.61% at 8:00
Apple Inc. overtook the leadership from the Coca-Cola Company as the most valuable brand in the world. The former's brand value added 28% to $98.3 billion, while the latter declined to $79.2 billion. Analysts point on the ability of Apple CEO Tim Cook to keep the company growing and developing. Apple Inc. equities, however, are losing 1.35% to $476.21 after
Economic growth in Canada jumped to 0.6% in July of this year to $1.54 trillion on the annual basis. Economists say that recovery was mainly caused by the end of construction strike in the county of Quebec and floods in Alberta. In June economy has lost 0.5%. Meanwhile, the Bank of Canada expects the country's economy to expand 3.8% in
Inflation in the 17-nation bloc increased by less than initially forecast in the month of September, when the rate rose 1.1% after it gained 1.3% in August, the slowest advance since February 2006, the statistical office Eurostat reported on Monday. According to the report, the inflation was projected to rise 1.2%, while core inflation excluding energy, food, alcohol and tobacco
The Chinese Yuan advanced on Monday completing its fifth successive quarter of gains due to stronger fixing set by the People's Bank of China at 6.1480 in the Q3, suggesting that China's economy is recovering from the previous slowdown. The Yuan jumped by 0.25% this quarter to a level of 6.1220 per U.S. Dollar in Shanghai following a 1.2% increase
Emerged economic expansion in the Eurozone is considered to be weak to influence labor market conditions and decrease jobless rate of 12.1%. The unemployment is anticipated to jump to 12.3% in Q4 2013 and remain exceeding 11% throughout 2015, while the GDP in the Euro bloc advanced 0.3% in Q2 and is expected to rise 1% in 2014 prior 0.4%
The British Pound increased for the fourth straight day against the shared currency after a report showed that house prices advanced by the most in a six-year period in September suggesting that the U.K. economy is improving. The Sterling added 0.2% to 83.62 per Euro by 9:33 a.m. in London after it strengthened to 83.40 pence, the highest since January
The Japanese Yen increased versus majority of its counterparts on Monday trading session after demand for the Yen as a haven currency was boosted as the U.S. government may partially shut down from tomorrow. The Yen gained 0.4% to 97.88 per U.S. Dollar as of 10:13 a.m. in London after it reached the strongest level since August 29 at 97.53