British industrial output soared at its fastest pace for 25 years in July, official data showed on Friday. In a report, National Statistics said that industrial output rose by 2.9%, after dropping by 2.4% in the previous month. Moreover, manufacturing output rose by 3.2%, the fastest pace for 10 years, after falling by 2.9% in June. Despite strong rise in July, industrial output erased 0.8%
Canadian unemployment rate remained unchanged at 7.3 per cent, in line with market expectations, Statistics Canada reported on Friday. At the same time, employment rose by 34.3 thousand jobs, after falling 30.4 thousand in the preceding month, beating expectations of 10 thousand.
Oil futures edged higher after unemployment rate in the world's biggest economy fell by 0.2% and Eurozone's policy makers agreed on launching massive bond buying program. Light sweet crude futures for delivery in October traded at $96.16 per barrel, adding 0.67%.
U.S. stocks rocketed on Friday, as weaker-than-expected growth in American payrolls spurred bets the Fed will undertake more monetary stimulus. The Dow Jones Industrial Average added 0.3% to 13,312 points; the Standard & Poor 500 Index edged 0.25% higher, to 1,434.60, while Nasdaq 100 futures rose by 0.04%, to reach 2,826.75.
Gold futures turned lower on Friday, September 7, retreating from the highest level in nearly six months reached the prior day. Bullion with December contract erased 0.5 per cent, to $1,697.10 per ounce. Elsewhere in the metals complex, prices were mixed. December silver lost 1.05 per cent to $32.335 per ounce, while copper for the same month jumped 1.04 per cent to $3.580 per pound.
U.S. unemployment rate fell to 8.1 per cent in August, down from 8.3 per cent in the preceding month, the Labor Department figures showed today. In the meanwhile, U.S. employers added only 96,000 jobs last month following a revised 141,000 rise in July that was smaller than initially predicted. Moreover, hourly earnings were unchanged.
The German Economy Ministry reported today that the industrial output grew by 1.3% in July, compared to a preceding month's 0.4% decline. The figure for June is revised up from an initially reported 0.9% drop. The analysts, however, expected that there would be no change in July's output. Year over year, the industrial production fell by 1.4%
Statistics Canada reported on Friday that labor productivity in Canadian businesses fell by 0.4% in the second quarter, compared to no change during the three previous months. The real GDP of businesses increased by only 0.5%, while the amount of hours worked grew by 0.9%. The fall in labor productivity was steeper than expected, since analysts predicted that it would remain unchanged.
On Friday, Statistics Canada reported that the amount of building permits in August grew to -2.3% on a seasonally adjusted basis from the figure of -2.5% in July. The growth is more modest than expected, since economists expected that the amount of building permits in Canada would increase to -2.0% last month.
German shares extended pervious gains on Friday ahead of the key economic data releases from the US. Rally of Asian equities and recent ECB decision also boosted German stocks. Adding to the positive mood of German equities, national industrial production advanced more-than-expected last month. German DAX Index gained 0.87% to trade at 7,231.10. All but one sectors included in the
UK stocks pared gains on Friday ahead of the US payrolls data. UK shares continued to draw strength from the recent ECB decision regarding unlimited short-term debt purchasing program. Adding to the gains of the UK stock index, national manufacturing production rose more-than-expected in August. The FTSE 100 Index advanced by 0.20% to trade at 5,788.13. Only four in ten
Hong Kong stocks soared on Friday after the government unveiled its plan to build more roads. The announcement raised speculation that the government will embark on stimulus measures. The results of the ECB press conference also spurred rally in Chinese equities. The Hang Seng Index skyrocketed 3.09% to end the week at 19,802.16. All economic sectors included in the index
U.K. industrial production tumbled 0.8% on year in July, after a 3.8% decline in June, National Statistics reported on Friday. Economists estimated a 2.8% decrease. It added 2.9% on month in July, after a 2.4% fall in June and exceeding forecasts of a 1.5% rise. U.K. manufacturing production dropped 0.5% on year, after a 4.3% slid in June, above estimates
Japanese equity market faced a boost after the ECB announced a bond-purchasing plan to ease debt pressure in the region. Positive data from the US services industry and labour market also lifted Japanese stocks. Meanwhile, market players remained focused on US non-farm payroll data due later in the day. The Nikkei 225 Index soared 2.20%, halting two-week decline and consolidating
Austria's trade deficit widened to EUR 641.79 million on year in June from EUR 596.3 million in 2011, Statistics Austria showed on Friday. Exports rose 2.9% on year, while imports surged 3.2%. During the first half of 2012, exports were 1.6% up from a year earlier and imports grew 1.1%. The trade gap contracted to EUR 3.27 billion from EUR
The Dow Jones index surged on Thursday after long-awaited results of the ECB press conference. The ECB stated that it would buy short-term debt to cut borrowing costs of the indebted members in the Eurozone. Upbeat data from the US jobs market and services industry buoyed the US blue chips. The US services sector activity expanded faster than forecast last
German enterprise insolvencies tumbled 6.1% on year to 2,367 in June, Destatis said on Friday. In total 12,634 insolvencies were recorded in June, falling 1.6% from the preceding month. During the first half of the year corporate insolvencies slipped 3.1%, while consumer insolvencies slid 3.9%.
US stocks skyrocketed on Thursday after the ECB unveiled its new short-term debt purchasing program to ease crisis pressure in the Euro area. Positive data from the US labour market also boosted market sentiment. US initial jobless claims dropped more than expected last week while non-farm unemployment tumbled much more than forecast last month. The S&P 500 Index reached its
Rural commodities were mixed on Thursday, with grains rebounding and coffee and sugar slumping. Broadly weaker greenback pushed farm commodities higher. Meanwhile, market participants remained focused on weather forecasts in the US, Brazil, India and Russia. Wheat rallied after, Australia, the second-largest global exporter, announced that wheat harvest may miss government estimates as dry weather harmed crops. Corn advanced on speculation
Energy commodities apart from natural gas climbed on positive news from the US labour market and larger-than-expected decline in the US crude oil inventories last week. New anti-recession measures announced by the ECB also boosted the commodity group. Crude oil spiked after the US stockpiles report. The US crude oil inventories dropped by 7.4 million barrels compared to forecasts of a
Base metals were mixed after long-awaited ECB decision to purchase an unlimited amount of short-term debt to cut borrowing costs of peripheral Eurozone's nations. However, the ECB lowered its expansion estimates for Euro area, thus pushing growth-sensitive commodities lower. Aluminum posted a mild gain, balancing between the ECB decision and Euro area growth forecast cut. Meanwhile, persistent surplus in the market
Malaysia's export unexpectedly fell in July from a year earlier, whereas imports rose more than expected, according to the Department of Statistics. Exports declined 1.9% annually, comparing to a 3.5% rise forecast. A slowdown of economic activities in China, Korea, India and the EU contributed to decreasing exports to the markets in July.
The French trade gap narrowed more than forecast in July, lead by a significant drop in imports, the Directorate General of Customs and Excise said on Friday. The deficit tumbled to EUR 4.27 billion from EUR 6.06 billion in the previous month. Economists expected a slid to EUR 5.85 billion. Exports surged to EUR 36.58 billion in July, while imports
The SNB's foreign reserves reached 71% of annual output in August, with a slower pace of growth adding signs that less central bank action was necessary to enforce its ceiling of 1.20 Swiss Francs per Euro. The SNB's foreign exchange reserves rose to 418.430 billion Swiss Francs from 408.605 billion in July, preliminary data from IMF showed on Friday.