Energy futures were bullish on Tuesday on positive news from the US. US budget deficit is expected to fall to USD845 billion this year, according to the US Congressional Budget Office. However, market players remained cautious ahead of the EIA weekly report due on Wednesday. Crude oil climbed on the US deficit hopes. Meanwhile, analysts expect the EIA report to show
Industrial metals except for aluminum slumped on Tuesday as market sentiment remained weak amid political turmoil in Spain and Italy. Spain's PM Mariano Rajoy faced allegations of corruption and was called to resign by the opposition party. Meanwhile, uncertainty over Italy's general elections also weighed on risk appetite. Aluminum was the only gainer, recovering some of the previous losses amid weaker
Precious metals apart from gold advanced on Tuesday amid persistent supply concerns and broadly weaker US Dollar. Disappointing economic data from the Eurozone coupled with political instability in Spain and Italy boosted safe-haven appeal of the commodity complex. Gold was the only loser as a recent increase in prices spurred profit taking. Meanwhile, signs of strong physical demand from central
The Euro strengthened against the Yen to the strongest level since April 2010 on a purchasing manager's index signaled services output in the Euro-zone shrank less than forecast, increasing demand for the shared currency. The Euro appreciated 1.4% to 126.56 Yen after reaching 126.97 Yen on February 1, the highest in more than 2.5 years. The Euro advanced 0.2%
Most of the U.S. blue chips advanced on Tuesday rebounding from their decline earlier this week, as corporate profits topped the analysts' estimates and Dell Inc. decided to be taken private. Dell's CEO Michael Dell and Silver Lake Management LLC agreed on buying the PC maker. The Dow Jones Industrial Average rose 0.7%, or 99.22 points, to 13,979.30. All but
U.S. equities edged higher after pairing their biggest loss this year on higher than expected profits. The S&P 500 index advanced 1% to 1,511.29 after slipping as much as 1.2% on Monday amid growing concerns about the European debt crisis. All ten groups in the benchmark gauge rose at least 0.2%. Computer Sciences Corporation jumped 9.2%, the most in the
Thailand's Baht halted a 3-day rally amid concern the nation's central bank will intervene to combat appreciation that undermines exports. The Baht weakened 0.1% to 29.76 per U.S. Dollar at 9:02 a.m. Bangkok time. The currency fetched 29.66 on January 21 and January 31, the highest level since August 2011. One-month implied volatility inched down 17 basis points or 0.17
Asian stocks advanced, with Japan's Nikkei 225 Stock Average poised for the highest close in 4 years, as the Yen declined, brightening the outlook for exporters. The MSCI Asia Pacific Index rose 1.4% to 133.36 at 2:51 p.m. Tokyo time. Hong Kong's Hang Seng Index gained 0.8%, while China's Shanghai Composite slid 0.2%. Australia's S&P/ASX 200 Index added 0.8% even
The Australian Dollar dropped to the weakest level this year as data showed the country's retail sales missed expectations falling 0.2% in December, spurring concerns the central bank will cut its key rate next month. The Aussie lost 0.4% to $1.0351 as of 3:44 p.m. Sydney time and fetched $1.0346, the weakest level since December 21.
South Korea's Won declined to the lowest level in 3 months as the Yen's weakening to a 3-year low alleviated concerns Korea's government will intervene to support exporters. The Won fell 0.2% to 1,089.25 per U.S. Dollar at 11:01 a.m. in Seoul. The currency traded at 1,098.25 on February 1, the lowest level since October. One-month implied volatility fell 23
Japan's Yen dropped to 94 per U.S. Dollar, the lowest level since May 2010, amid speculation the Japanese government will hurry to appoint a new central bank governor to take further steps to halt deflation. The Yen traded at 94.06 per Dollar, before touching 93.81 at 2:49 p.m. Tokyo time, down 0.2% from yesterday's close. It fell 0.1% to 127.30
Swiss export decreased in the last month of 2012 to its lowest level in 16 months as the weaker performance of the Eurozone's economy dragged down the demand for the Swiss watches and machinery and electrical products, the Federal Statistical Office reported on Tuesday. Exports fell 1.5% in December, while imports of the economy increased by 5.5%. "Switzerland's foreign trade managed to withstand the difficult global economic
Soybeans gain for the third time amid concerns too heavy rains will delay harvesting in Brazil, the world biggest supplier. March-delivery soybeans advanced 0.3% to $14.9325 in Chicago after falling 0.4%. Brazil is expected to produce an 82.7 million-ton harvest this year, while the U.S. Department of Agriculture forecast harvest of only 82.5 million metric tons of soybeans, the forecast
German equities rebounded on Tuesday ahead of the US services industry growth data due later in the day. However, persistent concerns over political uncertainty in Spain and looming ECB press conference capped gains of German blue chips. The DAX Index climbed 0.31% and is currently trading at 7,662.63. However, only three industries out of nine jumped. Utilities and financials led
UK stocks swung to gains on Tuesday, rising after previous sell-off on upbeat quarterly results of the largest companies in FTSE 100 Index. However, gains remained capped by weakness of Asian and US stock markets. Political instability in Spain also continued to pressurize UK blue chips. The FTSE 100 Index climbed 0.66% to trade at 6,287.54. All but one
Hong Kong shares dropped for the second consecutive day on Tuesday, tracking weakness of the US and Japanese stock markets. Political instability in Spain as well as caution ahead of the ECB press conference scheduled on Thursday also put heavy pressure on Hong Kong blue chips. However, positive China's data limited the downswing. China's services industry grew to 54 in
Japanese equities gave back previous gains on renewed concerns over the Eurozone's debt crisis. Yields on Italian and Spanish bonds soared on Monday amid allegations of Spain's PM Mariano Rajoy of corruption. Weakness of the US stock market coupled with profit taking after a five-day winning streak also pushed Japan's stock index lower. The Nikkei 225 Index plunged 1.90% to
Dow plunged as weak US factory orders data spurred profit taking after previous rally. Market sentiment was further dampened by political instability in Spain. Spain's PM Mariano Rajoy faced allegations of corruption amid calls for resignation from opposition Socialist Party. Meanwhile, market players remained cautious ahead of the ECB press conference due on Thursday. The Dow Jones Industrial Average Index
US stocks closed sharply lower on Monday after a dismal report on the US factory orders. US factory orders rose 1.8% in December, compared to estimates of a 2.3% increase. Turmoil in the Eurozone also weighed. The S&P 500 Index slumped 1.15% to close at 1,495.71. All industries declined. On the upswing was Humana, the second best performer in the
Price of platinum increased by 10% to $1,690.75 an ounce in the London's exchange this year following the similar gain in 2012. Platinum appreciates as its supply slipped to a 13-year low as miners in South Africa reduce production. Analysts say, that supply side is very tight and it may push to a serious situation, as demand increases, especially in
Crude oil futures for March settlement were down by 18 cents to $95.99 a barrel on the New York Mercantile Exchange during Asian trading session on Tuesday. The volumes were above the 100-day average by 50%. Oil price is near a one-week low, after sliding the most in two months. Commodity traders wait for a report on the U.S. stockpiles,
Activity in German private sector improved at the fastest rate in last nineteen months as BME announced on Tuesday. The composite output index, measuring activity, was 54.4 in January, comparing with 50.3 in the previous month and also exceeding a 53.6 estimation. The overall growth was based on higher levels of service and manufacturing output.
The SMI gained 0.4% to 7,391.02 points in early Zurich trading session on Tuesday. The Swiss Market index increased already 8.4% this year, as it also bounced back from the last two weeks low. Givaudan, the world's largest fragrances and flavors producer, rallied the most in last nine most as announced a 36 francs dividend per share and profit,
The Euro Stoxx 50 Index was lower by 0.1% to 2,624 points in early London trading session on Tuesday. The European stock futures fluctuate as the main index, the Stoxx 600, yesterday tumbled the most in last three months. Today, UBS AG posted a lower quarterly loss than expected, but Royal KPN results missed analysts' estimations.