Chicago-area's business activity was little changed in October, the Institute for Supply Management – Chicago showed on Wednesday. The business barometer rose to 49.9, down from 49.7 in the previous month, indicating a contraction. New orders index jumped to 50.6 from 47.4, while production index slid to 51.8 from 55.4, and employment index dropped to 50.3 from 52.0.
Canada's Dollar dropped to near a three-month low versus the greenback on Wednesday after a report posted an unexpected fall in the nation's GDP, the first in six months. The Loonie retreated 0.2% to C$1.0009 per U.S. Dollar and traded at C$1.0013. Government notes advanced, with the 2-year yields losing four basis points to 1.06%, the lowest since Oct. 4.
The euro advanced against the dollar and yen as the parliament of Portugal is approaching to a consensus on its budget and a discussion over giving more time to Greece to meet the austerity measures has started. The single currency inched up 0.2 per cent to $1.2989, after having a 0.4 per cent gain the prior day. The currency also rallied 0.6 per cent
French shares eased up on Wednesday as unexpected rise in the eurozone's jobless rate was partly offset by upbeat retail sales numbers from Germany. Limiting an upward trend, France's consumer spending increased less than expected last month. The CAC Index inched up 0.08% to trade at 3,462.30. Nine out of ten sectors included in the index advanced. Oil and gas
German stocks moved higher on Wednesday on positive data from the national economy. German retail sales soared 1.5% versus forecast of a 0.4% increase in September. However, an unexpected rise in the eurozone's jobless rate capped the upswing of the German blue chips. The DAX Index jumped 0.54% and is currently trading at 7,323.99. Seven out of nine sectors included
The FTSE 100 Index slumped 0.11% to trade at 5,843.55. An unexpected increase in the eurozone unemployment rate to 11.6% created heavy pressure on the UK blue chips. At the same time, a rebound in Asian stocks and upbeat quarterly results of the largest European airlines limited the downswing. All but one sectors within the index eased up. The top-gainers
Hong Kong equities advanced on Wednesday amid mixed profits of Hang Seng majors. Meanwhile, investors were cautious ahead of the final reading of China's PMI due on Thursday. The Hang Seng Index surged 1% to end the month at 21,641.82. Seven sectors included in the index climbed. The top-performers were basic materials and financials. Aluminum Corp of China (CHALCO) gained
Japanese shares rallied after previous slump. On Tuesday, stocks plunged as the BoJ did not launch more aggressive easing measures. Boosting the market sentiment, corporate results for Q3 were not as dismal as expected. The Nikkei 225 Index gained 0.98% to end the session at 8,928.29. All sectors within the index moved higher. The biggest gains posted oil and gas
Australian stocks moved higher at low-volume trading on Wednesday. The market sentiment was boosted by mounting hopes that the RBA will cut its benchmark interest rate again at its policy meeting due on Thursday. Positive economic data also lifted Australian equities. Australian building approvals rose by 7.8% while public sector net borrowings continued to advance in September. The S&P/ASX 200
In September, the eurozone unemployment rate reached a new peak as the debt crisis sharpened, thus creating concerns about recession. The jobless rate surged to 11.6 per cent the former month from 11.5 per cent in August. Throughout the last twelve months, the number of unemployed increased by 2.174 million to 18.49 million people. Austria and Luxembourg had the lowest rates, while Spain and Greece
Japan's housing starts rebound strongly in September, after three consecutive months of contraction, the Ministry of Land, Infrastructure, Transport and Tourism said on Wednesday. Housing starts rose 15.5% year-on-year, compared to a 5.5% contraction in August. However, economists expected a faster increase of 17%. Total housing starts were at annualized 866,000 in September from 888,000 in the previous month. Meanwhile, analysts
Canada's economic activity advanced at a weaker-than-expected pace in August, Statistics Canada showed on Wednesday. Canada's GDP posted a 1.2% growth, compared to a 1.9% increase in July. Economists had forecast a 1.7% rise. On monthly basis, GDP declined 0.1%, quite below expectations of a 0.2% expansion.
Italy's Producer Price Inflation was slightly above analysts' estimates in September, Istat reported on Wednesday. The PPI for domestic market advanced 2.8% on yearly basis, while economists predicted a 2.7% rise. Total market prices increased 2.6%, with a 1% growth in non-domestic market prices. On monthly basis, the index fell 0.1% in contrast to expected 0.1% rise.
Copper jumped to a six-week high on Wednesday, trimming the first monthly fall since July, amid reports suggesting a rebound in Asian economies fueled prospects for demand. Three-months copper surged 1.3% to $7,817 per metric ton in London, while the one for December delivery climbed 1.2% to $3.547 per pound in New York. Zinc, aluminum and nickel rose in London.
Norway's Krone rose in value versus both the Euro and the greenback on Wednesday, after the central bank announced it will not purchase forex for the oil fund in November. The Kroner appreciated 0.41% versus the Euro to 7.397 and strengthened 0.77% against the U.S. Dollar to 5.6875 in Oslo.
The eurozone inflation inched lower, as the pace of energy prices' growth slowed down. According to Eurostat, the inflation in the eurozone in October was 2.5 per cent on yearly basis, stepping lower from a rate of 2.6 per cent in September. However, the inflation is still not complying with the ECB's target of 2 per cent. Soaring energy and food prices were mainly pushing
The pound stayed at about the same level versus euro and dollar as U.K. consumer confidence touched its 6-month low this month. The sentiment decreased from minus 28 the previous month to minus 30 in October. After tumbling to $1.5914 in the end of October, the pound climbed about 0.1 per cent to $ 1.6082 by 7:48 a.m. in London, and traded up to 80.61
U.S. stock futures advanced on Wednesday, as Wall Street got ready to reopen after Hurricane Sandy forced its two day closure. General Motors Co.'s higher-than-expected earnings and Chicago PMI due today in focus. Futures on the Dow Jones added 0.4% to 13,106, while those on the S&P 500 surged 0.5% to 1,415.20. Nasdaq 100 futures rose 0.5% to 2,667.25.
Agricultural commodities were mixed on Tuesday amid broadly weaker US Dollar and hopes that a recent slump in prices will attract new buyers. Meanwhile, traders continued to monitor weather conditions in the US and Brazil.Wheat eased down despite falling exports in Australia and mounting uncertainty whether Ukraine will impose export quotas. Australia is expected to face a 73% drop in
Gfk NOP reported on Wednesday that its index of consumer confidence in the United Kingdom declined unexpectedly in October. U.K. Gfk Consumer confidence dropped to a level of minus 30 from a preceding month's reading of minus 28. While economists expected that the index would remain unchanged.
The National Institute of Statistics and Economic Studies reported on Wednesday that spending of French consumers rose less than it was expected in September. French consumer spending increased by 0.1% on a seasonally adjusted basis, compared to a 0.4% growth in the preceding month. Economists, however, expected a reading of 0.2%.
Energy futures except for crude oil dropped on Tuesday on weaker greenback and easing measures from the BoJ. Uncertainty over damages caused by Hurricane Sandy created heavy selling pressure on the energy futures. Crude oil was the only gainer on broadly weaker greenback. Meanwhile, investors were cautious as the EIA postponed its US inventory report to Thursday.Brent oil moved lower
Industrial metals gained as risk sentiment improved after the BoJ eased its monetary policy. Moreover, Spanish economy contracted slightly less than expected, thus lending support for the base metals. Adding to a jump in base metals prices, US home prices rose slightly in August.Aluminum rose after the International Aluminum Institute announced that global aluminum inventories slumped by 63,000 in September.Copper
Precious metals traded slightly higher on Tuesday amid broadly weaker US Dollar and mixed global equities. The commodity group was supported by widely anticipated monetary stimulus from the BoJ. However, investors were disappointed as the BoJ may have embarked on more aggressive measures.Gold was flat amid uncertainty over easing measures in the US and rising gold holdings in central banks