Base metals apart from nickel advanced on Thursday despite worries over rising global inventories and weak China's demand. However, industrial metals found support on Mario Draghi comments that the ECB will continue its easing measures as long as needed. Aluminum climbed as cancelled warrants at the LME continued to rise, indicating strong spot demand. Adding to gains, stockpiles at the LME
Precious metals declined amid signs of weakening investment demand. At the same time, precious metals pared losses after the ECB President Mario Draghi said that the monetary policy will remain loose as long as needed. Moreover, disappointing US jobless claims data lent support to the commodity sector. Gold traded lower as holdings of gold-backed ETPs stood at 2,435.35 metric tonnes on
European stocks retreated on Thursday amid negative data on the U.S. economy and Draghi's woes over the Eurozone's debt crisis. The DAX Index decreased 0.7%, or 47.16 points, to 7,879.23. The leading sectors were telecommunications and health care that added 2.2% and 1.7%, respectively. Fresenius Medical Care AG & Co KGaA surged 4.1% to 56.25 euros, as the company's shareholders
U.K. equities declined on Thursday, as the ECB President Mario Draghi said the Euro area's economic recovery may be at risk. In addition, the U.S. jobless benefit claims increased in March. The FTSE 100 Index lost 1% to 6,353.33 points, the biggest two-day decline in nearly five months. Only sector posting gains was basic materials that added 0.5%. Vedanta Resources
Italy's property prices decreased at a significantly faster pace in the last three months of 2012 as the house price index dropped for the fourth month in a row, a data unveiled by the statistical office Istat showed on Thursday. The house price index slipped 4.6% annually in the Q4 following a 3.8% decline in the prior quarter, while overall
The British currency decreased to its weakest in two weeks versus the U.S. Dollar on Thursday amid speculations that the Bank of England decides to add more stimulus measures at a policy meeting on Thursday. The Pound dropped 0.5% to $1.5048 earlier on Thursday London session following a fall to the lowest since March 20 at $1.5034, while it was
Japanese shares rallied the most in two months as the Yen depreciated against its major peers after the Bank of Japan made its first policy decision under the leadership of Haruhiko Kuroda, the new governor, to double monthly bond purchasing. The Nikkei 225 Stock Average advanced 2.2% to close at 12,634.54 with a trading volume above its 30-day average. All
U.S. stocks declined yesterday, as the nation's employers hired less-than-estimated workers in March and non-manufacturing businesses, covering nearly 90% of the world's largest economy, dropped to 54.4 the last month compared to a rate of 56 in February. The Dow Jones Industrial Average extended its decline for the week and retreated 0.8%, or 111.66 points, to end at 918.71. All
Wall Street finished red on Wednesday, with the Standard & Poor's 500 Index falling down from a record high led by financial and energy stocks. In addition, worse-than-expected data on the world's largest economy also fueled concerns over U.S. economic growth perspectives. The S&P 500 slipped 1.1% to 1,533.69 for the biggest drop in more than month. All ten groups
Emerging-market shares continued to decline on Thursday pushing down the benchmark index of the region to the weakest level in two weeks amid political tension in Thailand and as conflict between North and South Korea escalated. The MSCI Emerging Market Index decreased by 0.5% to 1,019, while South Korean Kospi Index slipped 1.2% and Thailand's Set Index contracted 1.6% on
Gold continued to decline on Thursday extended its series of losses after it was bullish for 12 years amid concerns that investors tend to seek for higher return in riskier assets as the global economy is recovering. Bullion for delivery in April dropped 1% dropping to its weakest since May 30 at $1,541.82 an ounce after it was traded at
European equities increased on Thursday with the Stoxx Europe 600 Index rebounding from the largest drop in five weeks after the Bank of Japan's new Governor announced another stimulus measures in order to end a 15-year period of deflation in the country. The benchmark Euro Stoxx 50 Index futures added 0.3% to 2,584 earlier on Thursday London session.
West Texas Intermediate oil was traded close to its lowest level in more than seven days on Thursday after inventories in the U.S., the world's largest oil consumer, climbed to the strongest figure in 22 years. May WTI futures were at $94.46 a barrel on the NYMEX after it dropped $2.74 to $94.45 yesterday, the lowest price since March 22.
The Australian currency was little changed on Thursday rising for a fourth straight day after a report showed that retail sales in the country advanced by 1.3% in February recording its biggest gain in a three-year period. The so-called Aussie increased 0.5% against the U.S. Dollar in last four session and was traded at $1.0454 at 4:13 p.m. Sydney time
Japanese government bonds increased on Thursday pushing the benchmark 10-yer yield down close to its record low reached in 2003 after the Bank of Japan's new Governor Haruhiko Kuroda kept his promised and unveiled aggressive monetary stimulus measures. 10-year yields dropped 0.07 percentage points to 0.48% after it was at 0.55% yesterday.
Japan's national bank decided to end a 15-year-deflation period in the country, when the Bank of Japan's new Governor Haruhiko Kuroda unveiled monetary stimulus measures as he promised on Thursday. The new plan says the BoJ will stick with purchases of the Japanese Government Bonds of an amount of 7 trillion yen per month and it will keep the interest
Building approvals in Australia beat a forecast in the month February, when they increased by a seasonally adjusted 3.1% compared to projections of a 2.5% gain on the month, a report released by the Australian Bureau of Statistics unveiled on Thursday. Year-on-year, building permits rose 12.8% in February and the total number of building approvals recorded 13,371.
Retails sales in Australia advanced above economists' expectation in the month of February, when they rose by 1.3% to A$21.949 billion, a data released by the Australian Bureau of Statistics showed on Thursday. The report also said that retail sales gained the most in clothing, foot wear and personal accessory industry increasing 0.8%, while household goods retail sales gained 0.7%
The Thailand Bath dropped by 0.2% it 29.42 per U.S. Dollar in the morning of Bangkok trading session on Thursday. The currency reached the weakest level since 19th of March, as the market was concerned about the central bank actions in order to curb gains of the Bath. Investors are driven by speculation that intervention might occur, since the appreciating
The Japanese Yen appreciated by 0.2% to 92.88 per U.S. Dollar by a midday trading session in Tokyo on Thursday. The currency continued to gain after a 0.4% advancement yesterday and was close to the strongest level at 92.57 since 1st of March. Investors trade on speculation that additional monetary easing measures from today's BOJ meeting have been already priced
Rural commodities except for sugar advanced on Wednesday as cold weather in the US may impact winter crops and slow early planting. Meanwhile, worries over spreading coffee leaf rust in Central America supported coffee futures. Wheat rallied as freezing conditions in the top growing areas of the US may damage winter crop and delay spring planting. Supporting prices, Informa Economics estimated
Energy futures declined on Wednesday after the EIA report showed US inventories rose more-than-estimated last week. Negative headlines from the US coupled with disappointing PMI data from China also weighed on energy prices. Crude and Brent oil led losses as US oil inventories jumped to a 22-year high last week. The EIA reported crude oil stockpiles soared 2.7 million barrels last
Industrial metals apart from zinc were bearish on Wednesday on dismal US numbers. Recent manufacturing PMI releases that came worse-than-expected coupled with elevated LME inventories also continued to put pressure on base metals. Aluminum extended previous losses amid increasing global production and rising stocks at exchange warehouses. Inventories at LME remained near a record high of 5.14 million tonnes on
Precious metals plunged on Wednesday as market participants locked in profits after the last week's rally. Moreover, signs of weak investment demand added pressure on the commodity group. However, weakness in the US Dollar and robust car sales in the US were supportive for precious metals. Gold slid amid soft investment demand. Holdings in ETPs reached 2,437.38 metric tonnes on Wednesday,