China's stocks posted the biggest drop in two weeks as Bank of America Corp. pared its economic growth estimates for China and amid belief the government will not alleviate monetary policy as housing prices rebound. The Shanghai Composite Index fell 0.6% to 2,156.25. The CSI 300 Index dropped 0.8% to 2,381.23. The Hang Seng China Enterprise Index declined 0.4%.
Gold and oil rose as Japan's GDP widened less than expected, adding signs to speculation central banks will create additional stimulus to support global growth. Oil gained 0.4% to $93.28 per barrel in New York on Friday. Gold for immediate delivery advanced 0.2% to $1,623.75 per ounce. While corn fell 0.3% in Chicago and wheat lost 0.8%.
Import prices in the U.S. unexpectedly dropped in July for a fourth month in a row, as costs for industrial supplies, consumer goods and imported oil tumbled. In general, import prices erased 0.6 per cent. Meanwhile, export prices added 0.5 per cent in the same month, pushed higher by the more expensive agricultural goods.
Five biggest banks in the world's biggest economy were directed to think out the plan to prevent a collapse, in case the economy will face significant problems. One of the most important points is that banks, among which are the BoA, Goldman Sachs Group Inc, Morgan Stanley, Citigroup Inc, and JPMorgan Chase & Co, could not rely on government's help.
Oil futures tumbled on concerns about global economic growth and China's weaker-than-expected trade data. Crude oil for September delivery erased 1.5 per cent, to $91.97 per barrel. In the meantime, September gasoline and heating oil for the same month dropped by 3.2% and 0.9%, respectively.
German equities sank on Friday amid weak China's exports data. Meanwhile, market sentiment remained under notable pressure after the ECB cut its Eurozone's growth outlook for 2013. German DAX Index lost 0.75% to trade at 6,913.63 at the time of writing. Industrials and consumer services were the only two industries that supported the index. ThyssenKrupp was the top-gainer, jumping by
UK stocks dropped on dismal China's trade data and persistent worries over the Eurozone's economy. However, UK equities were supported by speculation that the country's economy may have contracted less than previously estimated due to smaller drop in construction. FTSE 100 Index slid 0.3% to trade at 5,839.49 at the time of writing. Eight out of ten industries included in
The amount of unemployed in Greece reached a new record of 23.1 per cent in May from 22.6 per cent in the previous month, with more than half of the unemployed people aged between 15 and 24. In the meanwhile, no sign of improvement can be noticed in the near future, as Greece's government is planning to resign 40,000 public servants, in order to
U.S. home prices jumped 7.3 per cent in the second quarter, posting the strongest rise since 2006. Another sign that the U.S. property market is growing, is the rise by 75% of local markets. Despite the increase in prices, sales of homes tumbled by 0.7 per cent. The increase of prices can be mostly explained by drop in sales of lower-priced homes.
The Chinese National Development and Reform commission reported today about the increase of retail oil prices. Retail gasoline will be raised by 390 Yuan or $61 per metric ton, while prices of diesel will be increased by 370 Yuan per metric ton. Meanwhile, global retail oil prices declined from April to June, and rebounded in June, pushing Chinese retail prices higher.
Oil futures edged higher, as less Americans claimed for jobless benefits, and as the trade gap in the world's biggest economy's narrowed by 10.7 per cent, a sign that GDP may rise more-than-expected. Crude oil for September settlement advanced 0.5 per cent, to $93.84 per barrel at 9:48 a.m. on the NYME. Brent oil for the same month rose 0.3 per cent, to $112.44 per
Chinese equities ended the week in the red territory after China reported a slowdown in exports growth. Recent flow on negative economic data also pushed China's stocks lower. Hang Seng Index closed 0.89% lower at 20,136.12. Only three industries included in the index managed to climb: telecommunications, utilities and basic materials. China Mobile, China Resources Power and Power Assets rose
Nikkei 225 tumbled for the first time in five days on Friday as disappointing quarterly results and weak China's export data weighted down on Japanese stocks. However, building expectations that the ECB and POBC will loosen monetary policy restricted the downswing. Nikkei 225 Index sank by 0.97% to end the week at 8,891.44. Nine out of ten industries in the
Energy markets were bullish on Thursday as investors continued to expect China and Eurozone to announce easing measures in the nearest future. Moreover, positive news from the US boosted demand prospects for energy commodities. Crude oil was flat, balancing between supply concerns from the Middle East and demand uncertainties. Positive labour market data from the US lifted crude oil futures
US blue chips were flat on Thursday amid lingering worries over the Eurozone's crisis and inspiring news from the US. US jobless claims dropped more than expected last week while US trade deficit narrowed last month. Dow Jones Industrial Average Index edged down by 0.08% to end the day at 13,165.19. Basic Materials and telecommunications provided strong support for the
Industrial metals tumbled on Thursday amid dismal economic data releases from China. However, speculation that the central bank of China as well as the ECB may launch more growth-boosting programs limited losses of the base metals pack. Aluminum retreated despite falling wholesale inventories in the US and global easing hopes. Copper plunged as weak China's economic data dented demand prospects for the
Denmark's inflation increased in July, according to latest data from Statistics Denmark on Friday. The CPI rose to 2.3% in July from 2.2% in previous month. Food prices and non-alcoholic beverages surged 4% on year and footwear and footwear prices increased 2%. Housing prices added 2.3%. Transport fees inched 1.2% higher from 2011.
Precious metals except for palladium moved higher on Thursday despite broadly stronger greenback. The commodity group remained supported after China's CPI data indicated easing inflationary pressure in the country. Currently, investors await fresh easing measures from the ECB and PBOC. Gold climbed despite weakening physical demand from India and fading hopes for QE3 in the US after optimistic labour market and
US stocks were little changed on Thursday, balancing between positive news from US and dismal China's data releases. Pushing US equities lower, the ECB cut Eurozone's growth outlook from 1% to 0.6% for 2013. S&P 500 inched up by 0.04% to trade at 1402.80. On the upside were basic materials and technology stocks. Alpha Natural Resources and Airgas advanced by
U.K. real estate prices climbed to the highest in four years in July as London's booming housing market expanded its difference from other regions. The average price of house in England and Wales increased 0.2% on month to 225,769 Pounds ($353,000), the most since June 2008, reported by the Acadametrics and LSL Property Services Plc on Friday. Prices advanced 3.2%
Finland's industrial output declined for a sixth consecutive month in June, however, at the lowest pace in the decline sequence, reported by Statistics Finland on Friday. Production dropped 1% on year after a 1.4% fall in May. Seasonally-adjusted production tumbled 1.4% on month in June compared to a 1.2% rise in preceding month. The output declined 2.8% compared to the
France's industrial output stayed stable in June, as reported by statistical office Insee on Friday. Production stagnated on monthly basis in June, after dropping a revised 2.1% in previous month. Data posted output in energy and quarrying and mining, waste management and water supply rose 0.7% from May.
German 10-year bunds increased after a report posted inflation declined unexpectedly in July, boosting interest for fixed-income assets. The year-on-year inflation rate slowed to 1.9% in July from 2% in preceding month, the Federal Statistic's Office reported on Friday, the first drop below the ECB's 2% limitation since December 2010. The 10-year yield dropped to 1.41%.
China, the world's second-major oil purchaser, raised diesel and gasoline prices for the first time in five months as global crude prices advanced. The maximum price for gasoline will surge by 390 Yuan ($61) per metric ton and for diesel by 370 Yuan starting on Friday, reported by the National Development and Reform Commission on Thursday.