Chinese shares dropped as minor companies fell from the highest levels in more than 24 months and BOE Technology declined on stock selling plans. The Shanghai Composite Index slipped for a second straight day, falling 0.6% to 2,021.17 at the end of the trading day, while the CSI 300 Index retreated 0.5% to 2,246.68. The Hang Seng China Enterprises Index
U.K. shares declined for the third time weekly as mining companies retreated and as the nation's GDP data are awaited by the investors. The FTSE 100 Index fell 0.3% to 6,601.6 as of 8:59 a.m. London time; however, the gauge has risen 9.5% from the lowest level on June 24. The FTSE All-Share Index slipped 0.3% today, while Ireland's ISEQ
Stock prices in Germany declined as BASF SE, the largest chemical company in the world, reported lower-than-expected profits. The company slid 4.4%, while Commerzbank AG dropped 4.1% as a report showed that the bank lent to Detroit. The DAX Index decreased 0.7% to 8,323.07 so far today after rising 0.8% yesterday.
The U.K. economy expanded in line with expectations by 1.4% in the second quarter of 2013 and rose 0.6% between the first and the second quarters, also as expected. The economy grew as all primary areas of the economy showed expansion, but the main driver to GDP growth was from services sector, that provides 78% of overall production to the
Treasury 30-year yields touched the highest point in 23 months ahead of a government data that analysts said will indicate orders for durable goods advanced for the third month. The U.S. 30-year bond yield increased one basis point to 3.66% and the 2.875% bond maturing in May 2043 declined 1/4 to 85 26/32. Benchmark 10-year note yields remained flat at
Gold fell for a second day in a row, prolonging its biggest decline in more than two and a half weeks, as U.S. home report indicated on that the officials will reduce stimulus measures. Spot gold dropped 0.5% to $1,315.30 an ounce, and was at $1,320.02 as of 8:56 a.m. Singapore time. Metal prices slipped 1.7% on Wednesday; the biggest
German government bunds decreased for a third day in a row after data indicated business confidence in Germany advanced more-than-expected in July. German 10-year bund yield increased two basis points to 1.66% and the 1.5% security maturing in May 2023 retreated to 98.525. German business climate index increased from 105.9 in June to 106.2 in July.
The Euro block's currency advanced versus the U.S. Dollar, after the German Ifo business climate indicated that confidence in Germany increased in July. The common currency jumped 0.14% to $1.3119 versus the U.S. Dollar and declined 0.07% to 132.12 versus the Yen, and retreated 0.18% to 0.8601 against the Sterling. The German Ifo Business Climate Index gained to 106.2 this
The Sterling advanced heading towards the strongest level in four weeks versus the U.S. Dollar ahead of data that economists said will indicate U.K. economy expanded at a faster pace in the second quarter. The Britain's Pound added 0.3% to $1.5355 and appreciated 0.1% to 86.07 pence versus the 17-nation currency.
Australian Dollar reached the lowest level in four and a half years against its New Zealand counterpart, as Reserve Bank of New Zealand discussed about removing monetary stimulus. The Aussie depreciated 0.8% to NZ$1.1454 at 4:52 p.m. Sydney time, after it reached NZ$1.1453 earlier, the weakest in four and a half years. The Australian Dollar traded at 91.70 U.S. cents,
The Canadian currency snapped four-day advance after crude oil dropped along with other commodities and equities as investors' sentiment decreased. The Canadian Dollar slid 0.3% to C$1.0316 per U.S. Dollar as of 5:12 p.m. Toronto time, after it rose 0.2% to C$1.0263, the strongest since June 19. One Canadian Dollar buys 96.64 U.S. cents.
The Japanese currency rose against almost all of its most-traded peers, appreciating over the 100 per Dollar level, as a fall in Asia's equities spurred demand for Japan's haven assets. The Yen strengthened 0.2% to 100.03 per Dollar at 6:51 a.m. London time after reaching 99.88 earlier. Japan's currency climbed 0.2% to 132.12 against the Euro, while the U.S. Dollar
Ten-year gilts declined as indexes of British and Eurozone manufacturing increased and as economists expect that tomorrow's report will show accelerating growth in the second quarter. Yield on 10-year bonds advanced 0.09 percentage points to 2.4% as of 3:26 p.m. in London. Manufacturing gauge gained from 48.8 in June to 50.1 in July, exceeding analysts' expectation of 49.1.
Most emerging-market equities declined as data indicates contraction in Chinese manufacturing and India's central bank decided to support the weakening Rupee by restricting banks' access to cash. MSCI Emerging Markets gauge dropped 0.1% to 986.66 as of 2:10 p.m. London time. The Shanghai Composite Index decreased 0.5%.
The Canadian Dollar advanced for a fifth consecutive day after the largest increase in retail sales since 2010 fostered bets for accelerating pace of growth. The currency appreciated versus the majority of its main trading partners after data showing a 1.9% advance in retail sales in May, while forecast was around 0.4%. The Loonie added 0.2% to C$1.0269 against the
Italian and Spanish bonds advanced after a report suggested manufacturing expanded more than expected in the Eurozone. Spanish 10-year yield dropped two basis points to 4.67% as of 1:09 p.m. In London. Similar Italy's bond yields went down two basis points to 4.35%. The manufacturing index increased from 48.8 in June to 50.1 in July, signaling growth for the first
West Texas Intermediate fluctuated after a report suggested that U.S. crude inventories shrank, while China's manufacturing sector slowed down in July. WTI for September settlement added 3 cents to $107.26 per barrel on the New York Mercantile Exchange. Brent for September delivery traded at $107.91 per barrel, up 51 cents on ICE Futures Europe exchange.
U.S. stock-index futures jumped, indicating the Standard & Poor's 500 Index will recover after yesterday's decline, as Apple Inc. released profit that was well ahead of expectations and European manufacturing grew more-than-forecast. The S&P 500 futures maturing in September climbed 0.2% to 1,691.7 and the Dow Jones Industrial futures rose 0.1% to 15,535.
The British Pound depreciated versus the U.S. Dollar after a report showed a below-expectations increase in manufacturing optimism in the U.K. The Sterling dropped 0.1% to $1.5353 versus the Dollar at 11:03 a.m. GMT. It also was down 0.22% to 0.8619 against the Euro after data showing higher Purchasing Manager's Index in the Eurozone.
Asian stocks dropped after survey showed that China's manufacturing activity slowed at a faster-than-expected rate. The MSCI Asia Pacific Index retreated 0.1% to 137.07, deleting 0.2% of gains from earlier today. As of yesterday, the gauge had lost 4.9% of its value since May 20. Japan's Topix and Nikkei 225 dropped 0.2% and 0.3% respectively, while Hang Seng Index gained
Gold extended its four-day increase after a decline earlier today, as investors were awaiting increased demand for the gold despite India's inbound shipment restrictions and disappointing Chinese report. The August Gold contract recovered to the $1,340 and spot gold remained steady at $1,338.84 per ounce.
The 10-year Treasuries sank for a second consecutive day after better-than-expected manufacturing and services data was announced in Eurozone, indicating that global economy is recovering and decreasing demand for safer investments. Yield on 10-year government securities rose 4 basis points to 2.54% so far today, while investment-grade corporate securities gained 1.4% this month.
10-year British government bonds fell for a second consecutive day before a report, which is expected to show an improvement in country's manufacturing industry. The gauge is expected to rise from 48.8 to 50.1 in July, while median estimate is a rise to 49.1. Yield on 10-year Gilts rose 6 basis points to 2.36% so far today after reaching 2.37%
German stocks rose after 3 days of losses after reports showed that manufacturing expansion was bigger-than-expected. The index increased to 50.3, the first expansion in the industry since February, while experts predicted the value of 49.2. An index for German service industry jumped from 50.4 to 52.5, while median estimate was 50.7. The DAX and HDAX Indexes both climbed 0.5%.