Asian stocks edged up with the benchmark index approaching a 3-month high, on speculation that central banks from China to the U.S. will take measures to spur growth. The MSCI Asia Pacific Index rose 0.4% to 120.01. Japan's Nikkei 225 Stock Average gained 0.9%, while Australia's S&P/ASX 200 Index climbed 0.5%.
The Norwegian Krone advanced to a 6-week high versus the U.S. Dollar as Norway's manufacturing production surprisingly increased in June. The Nokkie appreciated against all 16 most-traded counterparts as factory output rose 0.8% from May.The Krone gained 0.7%to 5.9197 versus the U.S. Dollar, after touching 5.9149, the strongest level since 21 June.
The Canadian Dollar rose to the strongest level in 12 weeks versus the U.S. Dollar as stocks and oil climbed and risk appetite increases. The Loonie gained against all of the 16 most-traded peers except the Nokkie as Canadian business spending gauge rose more than expected. Against the greenback Canada's Dollar gained 0.3% to 99.70 cents and then reached 99.63
Copper dropped after a three-day increase. On Wednesday, copper for September delivery decreased 0.5% to $3.425 per pound in New York, after reaching $3.449 yesterday, the strongest level for a contract since July 31.
The Aussie was 0.6% from its four-month high after report posted home-loan approvals increased 1.3% in June by the most in 2012, increasing signs of boost in the economy. On Wednesday, Australia's Dollar fell to $1.0545 after reaching $1.0604, the highest since March 20. Aussie dropped 0.4% to Y82.68. The Kiwi fell 0.4% to 81.25 U.S. cents. It slipped 0.7%
The Euro slipped versus the Yen before data that is expected to post industrial production decline in Germany, supporting concern the Eurozone's crisis is damaging region's biggest economy. S&P updated Greece's sovereign rating outlook from stable to negative and enforced CreditWatch action on four Spanish banks. The Euro dropped 0.4% to Y97.07 and 0.1% to $1.2387.
France's trade deficit rose to EUR5.99 billion in June from EUR5.47 billion in previous month, according to Directorate General of Customs and Excise. Economists expected a deficit of EUR5 billion. Exports dropped to EUR36.54 billion in June from EUR37.24 billion in May. Imports fell to EUR42.53 from EUR 42.71 billion in May.
Oil tumbled from the two-month high close amid speculation recent gains were over-optimistic on signs of weakening demand of the U.S., the world's major consumer of oil. Futures slipped 0.5% after a three-day rise. September-delivery oil fell to 93.17 per barrel. September-settlement Brent crude dropped 0.4% to $111.55 per barrel.
SECO Consumer Climate declined to -17points in third quarter, after a -8 point reading in the previous quarter, as reported by the State Secretariat for Economic Affairs on Wednesday. The drop had negatively outperformed analysts expectations of indicator improvement to -4 points.
Japan's outstanding bank loans increased 1.0% on year to Y396.4 trillion in July, reflecting the 10th consecutive year-on-year gain amid constant gradual improvement in corporate funding demand, reported by the Bank of Japan on Wednesday. The July rise followed 0.8% growth in June and was the strongest since October 2009 reading of 1.5%.
Gold declined after a three-day rally as its rise to a week high boosted sales and as the U.S. Dollar's strength weakened demand for the metal as an alternative investment. On Wednesday, spot gold fell 0.2% to $1,609.15 per ounce, after rising to $1,618.40 yesterday, the strongest since August 1. Bullion for December delivery dropped 0.1% to $1,610.70 per ounce.
Japan posted Y433.3 billion current account surplus in June, down 19.6% on year and declining for the 16th straight month, the Ministry of Finance reported on Wednesday. The trade balance showed a surplus of Y112.0 billion, with a 13.7% year-on-year drop. Imports cooled an annual 1.2% to Y5.310 trillion. Exports fell 1.5% on year to Y5.422 trillion.
The number of financial advisers in the world's biggest economy fell for a third year in a row, with expectations of a further decline. Unstable stock markets and low yields, cutting the earnings, pushed more brokers to resign. The number of financial advisers tumbled by 2.3 per cent, or 7,000, to 316,000 in 2011. Moreover, this number is expected to decline by 19,000 people till
Canadian dollar rocketed to a three-month high versus the U.S. counterpart, as crude oil, Canada's biggest export, advanced. The loonie appreciated 0.4 per cent to $99.67, moving closer to parity. Meanwhile, the Canadian bonds fell for a second day in a row, pushing the yields on government's 10-year bonds up to 1.84 per cent.
On Tuesday, August 7, European stocks advanced, supported by crude oil, and despite negative economic news. The Stoxx Europe 600 Index jumped 0.4 per cent to 267.87, boosted mostly by Standard Chartered, accused by a regulator from New York in hiding $250 billion in transactions tied to Iran. At the same time, Spanish IBEX 35 Index rose by nearly 2 per cent to 7,200; Portugal's
U.S. stocks turned green on Tuesday, with S&P reaching 1,400, on hopes that central banks are ready for bold actions to bolster economic growth. The Dow Jones Industrial Average added 0.57 per cent to 13,192.7, the S&P 500 Index soared 0.66 per cent to 1,403.47, reaching a three-month high, and the Nasdaq Composite jumped 0.79 per cent to 3,013.33.
As European governments are implementing austerity measures in order to curb the debt crisis, consumers are reining in spending as well. Consumers in France spent 0.2 per cent less during the second quarter. Meanwhile, consumer confidence in the Eurozone reached three-year low in August. Moreover, companies included in the European Stoxx 600 Index reported lower quarterly earnings and overall consumer spending on services and
The U.S. dollar edged higher against the basket of major trading-partner currencies, amid heightened concerns about the Eurozone debt crisis. The greenback was higher versus the shared currency, with EUR/USD erasing 0.17% to 1.2367. The U.S. dollar was also higher versus the British pound, with GBP/USD down by 0.46% to 1.5571. At the same time, the ICE dollar index jumped 0.10% to 82.49.
U.S. stocks advanced on Friday after four day of losses as the optimism on the Eurozone's debt crisis resolution grew and U.S. non-manufacturing activity jumped in July. The Dow Jones Index soared 1.7 per cent, to 13,098.29; the S&P 500 Index added 1.8 per cent, to 1,389.84, and the Nasdaq Composite jumped 1.9 per cent, to 2,965.29.
U.K. stocks turned green Friday as shares of banking and mining sectors jumped, and after the U.S. jobs data beat expectations. The U.K.'s FTSE 100 Index soared 2.2 per cent to 5,787.28. Banking sector also rocketed on Friday, with HSBC Holdings PLC up 4.1 per cent, Barclays PLC 5.6%, while Standard Chartered PLC picked up 4.5 per cent. Moreover, mining sector gained as well, Vedanta Resources
Canadian markets rocketed on Friday on better-than-expected U.S. employment. The S&P/TSX composite index jumped 1.44 per cent, to 11,672, at the same time, metals and mining stocks rose by 2.2 per cent, and IT equities added 1.7 per cent. The biggest gainers on Friday were commodity companies. Ivanhoe Mines Ltd shares soared 6.97 per cent and Inmet Mining Corp added 4.46 per cent. The loonie
German equities advanced on Tuesday despite disappointing factory orders data. German factory orders plunged 1.7% in June, confronting expectations of a 0.8% decrease. Adding pressure on European stocks, Italy reported that its GDP contracted by 0.7% in Q2. German DAX Index rose 0.5% to trade at 6,952.46 at the time of writing. Eight out of nine sectors moved higher. The
UK stocks were flat on Tuesday as a sharp fall of Standard Chattered was offset by stronger than expected earnings of other companies. Moreover, an increase in the UK retail sales in July provided support for UK equities. FTSE 100 eased down 0.06% to trade at 5,805.46 at the time of writing. On the upside were basic materials and oil
Shares in Hong Kong closed on Tuesday on the positive note on hopes for easing in the EU and Japan. On Monday, Germany backed up bond-buying program suggested by the ECB. However, weak earnings reports for Q2 restricted gains of Chinese equities. Hang Seng Index moved 0.37% higher to close at 20,072.55. Seven out of nine industries in the index