UK stocks are trading slightly higher on Friday amid mixed data from the Eurozone and the national economy. The Eurozone's unemployment rose from 11.6% to 11.7% last month, while German retail sales dropped more-than-expected in October. However, weak numbers from the Eurozone's were partly offset by an unexpected jump in the UK consumer confidence last month. The UK Gfk Consumer
Hong Kong shares ended the week on the positive note on positive economic data releases from the US and Japan. Hong Kong equities also received a boost after Chinese Vice Premier Li Keqiang said that urbanization will be the key driver of China's development in the next decade. Moreover, analysts expected Chinese data to show that the country's factory activity
Japanese equities extended previous gains on Friday after the government approved a stimulus package as looming election put more pressure on the ruling party to act faster to increase its popularity in the country. However, experts claim the effectiveness of the move is doubtful as the size of the package is much smaller than any of four previous spending plans.
Gold spot was 0.3% higher to $1,730.90 an ounce during Singapore trading hours on Friday. This increase sets gold price for 0.5% monthly gain in November, as holdings in exchange traded funds reached the highest point ever, 2,619.44 metric tons. Palladium is ahead of 14% rally in this month, the best run since December of 2010. Precious metals advance on
Crude oil futures for January settlement were slightly changed or 4 cents higher to $88.03 a barrel during Singapore trading hours on Friday. The price consolidates after $1.58 gain yesterday, what makes 2.1% increase this month and sets the price for the first monthly gain since August. Oil was traded positively this month amid positive signs of economy expansion in
Euro Stoxx 50 Index futures, which is a benchmark for the Euro area stocks, were slightly changed or less than 0.1% higher to 2,580 points in early London trading session on Friday. Market consolidates after the Stoxx Europe 600 index reached a 17-month high recently and investors awaited data for American consumer spending.
The Australian Dollar depreciated versus most of the major counterparts on speculation the RBA will lower the key rates next week to protect the economy from a slowdown in mining. The Aussie weakened to $1.0430 from $1.0435 yesterday. The currency is set for a 0.3% drop this week, whereas it climbed 0.6% this month. Australia's Dollar was at NZ$1.2669 from
The Shanghai Composite Index increased by 0.9% to 1,980.12 points during Asia trading hours on Friday. That was the first gain in last five days, as the whole index sets for a monthly 4.3% loss, the biggest since June, as the valuations reached the lowest on record. However, the benchmark tracking property stocks of China's stock market jumped by 3%
Farm commodities were mixed on Thursday, with softs climbing and grains retreating. Broadly weaker US Dollar as well as worries over upcoming storms in Brazil and Argentina were supportive for rural commodities. However, a slowdown in the US exports capped gains of the commodity group.Wheat retreated, snapping a three-day run after the USDA reported a 56% drop in US exports
Energy futures apart from natural gas moved higher on Thursday, following positive cues from the US economy. An upward revision of Q3 GDP growth as well as hopes for resolution of a standoff in US budget talks improved energy demand outlook. Moreover, weaker greenback coupled with an unexpected decline in the US crude oil stocks last week added to gains
Japan's cabinet approved a second round of stimulus measures worth 880 billion yen ($10.7 billion) to boost economy ahead of the elections in December. The new package will be funded from the nation's budget reserves and is more than double the size of stimulus announced in October. The economy shrank at an annualized 3.5% yoy in the Q3, the most
Base metals climbed on Thursday amid positive signals from the US economy. US GDP growth in Q3 was revised sharply upward, while US jobless claims fell in line with forecasts last week. Moreover, optimism over the US budget talks and expected acceleration in China's growth pace booted demand for riskier assets.Aluminum was the top-performer on signs of potential shortage on
Precious metals rallied on Thursday as upbeat US data failed to boost greenback. US GDP expanded by 2.7% in Q3 versus a preliminary reading of 2%, but slower than forecasts of 2.8%. The commodity group was likely to react negatively to encouraging US data as it may scale back expectations for further easing by the Fed. However, recent reports that
Japan's industrial output unexpectedly increased on production of parts for electronic devices including Apple's iPhone. Factory output rose 1.8% in October from a month earlier, when in declined 4.1%, according to data released by the Trade Ministry today in Tokyo. Economists estimated a 2% fall. Production of electronic devices increased 14.7% from September, the biggest rise since 1998.
Asian stocks advanced, with benchmark regional index poising for the second weekly rise, as Japan approved stimulus and the nation's industrial output unexpectedly increased. The MSCI Asia Pacific Index rose 0.5% to 124.81 at 2 p.m. Tokyo time. Japan's Nikkei 225 Stock Average gained 0.9% today as Japan's cabinet approved stimulus worth 880 billion yen.
India's Rupee was set for the first weekly advance since October as Moody's Investors Service kept a stable outlook on the country's credit rating and Goldman Sachs Group Inc. increased local shares to overweight. The Rupee rose 1.8% this week to 54.5250 per U.S. Dollar, trimming a loss in November to 1.3%. The currency climbed 0.6% today.
Japan's Yen weakened to the lowest level in seven months against the Euro as data indicated Japan's consumer prices were unchanged in October, increasing speculation the Bank of Japan will expand stimulus to boost inflation. The Yen fell to 107.30 per Euro, the lowest level since April 27, and was at 107.13 at 2:24 p.m. in Tokyo, 0.5% lower than
Canadian Dollar reached the highest level since November 7 versus the U.S. Dollar, country's main trade partner, amid concerns that the U.S. will manage to avoid fiscal cliff. Canada's currency traded at 99.26 cents per U.S. Dollar, following gain to 99.06 cents on November 27, a three-week high. Canadian Dollar appreciated 0.8% versus the U.S. counterpart this month and currently buys $1.0075.
Soybeans gained in Chicago amid bad weather conditions in South America postponed soybean planting in Brazil and Argentina, the world largest exporters, increasing demand for U.S. supply. According to the U.S. Department of Agriculture, soybeans delivery to China in 2012-2013 marketing year is estimated at 290,000 metric tons. January-delivery soybeans rose 0.6% to $14.555, following yesterday's gain to $14.5675, the
The Pound depreciated for a second day versus the Euro on the U.K. manufacturing report showed house prices didn't increase in November, proving recovery of the U.K. economy is slowing down. Sterling lost 0.2% against the Euro and traded at 81.04 pence per Euro, following decline to 81.14 pence, a one-month low, on Tuesday, and it is forecast to fell
German equities jumped on hopes that US lawmakers will manage to reach an agreement on the upcoming tax hikes and spending cuts. Moreover, positive data from the domestic economy also lifted German shares. The number of individuals applying for unemployment benefits in Germany climbed less-than-expected this month. The DAX Index advanced 0.71% and is currently trading at 7,395.45. All but
UK stocks advanced on Thursday amid optimism US policymakers will agree on budget until January 1. However, warnings from the BoE capped gains of the UK blue chips. The BoE reported that the country's banks may lack capital to set aside to limit potential market dangers due to the bank's over-optimistic risk assessment. Moreover, Nationwide house index was flat last
Hong Kong shares soared as risk appetite improved on hopes that US politicians would finally reach a budget deal. Boosting the market sentiment, experts predict China's economy to expand by 8.2% next year due to steady investment growth and changes in industrial structure. The Hang Send Index surged 1% to 21,922.9. All sectors within the index rallied, with consumer goods,
Japanese stocks rebounded from Wednesday's drop, as Goldman Sachs pledged changes in policy would contribute to share prices if the opposition wins election in December. Investors hope that the election will decrease frustration about political uncertainty. The Nikkei 225 advanced 1% to 9,400.99, recovering from its Wednesday's loss, the biggest in three weeks. All sectors climbed, with basic materials, technology