S&P 500 gained around 1.2% today, the most since the end of April. Out of 10 groups included in the index, commodity, technology and industrial companies gained the most. Apple and Newmont Mining increased by no less than 3.5% each. Boeing gained 3.3% after Argus Research suggested buying the company. Cooper Industries rocketed by 26% after Eaton arranged to purchase
Oil futures rebounded from the lowest level in half a year and increased by up to 1.3% today. June futures, expiring tomorrow, increased by approximately 1% today after closing at the lowest level since mid October last week. Brent oil July futures gained 1.3% today in ICE Futures Europe exchange. Specialist state that this is due China's economy which demonstrates continuous, stable and
Facebook went public on May 18 with the initial public offering price of USD 38. Although many investors expected a first-day spike, by the end of the session the gain was just 0.6 percent. The debut was overshadowed also by technical problems – trading was delayed for 30 minutes and there were issues with traders' orders. Today is its first trading day. At the time
Economy of Thailand is successfully recovering after the water flood last year. During the first three months of the current year a number of factories came back to business and started the production, while demand of the population is gradually being restored, increasing the national currency's value. Comparing with the year 2011 data for January - March, gross domestic product
Agricultural commodities were mixed on Friday as US weather remains abnormally hot while sugar and coffee supplies are rising.Wheat rallied for six consecutive sessions, approaching eight-month high as exceptionally hot temperatures in the main grain-growing regions in the US and Russia may harm crops.Corn followed wheat's suit, gaining 1.68% as dry and hot weather in the US slows development of
Energy markets were lower on Friday amid lingering concerns over the Euro Zone's economic instability. Moreover, growing OPEC production continued to dampen investors' sentiment.Crude oil declined as continuous worries over the demand from the Euro Zone weighted on price. Traders also were cautious ahead of G8 summit.Brent oil lost 0.33% as meeting between Iran and six major economies looms. Moreover,
Last Friday the government of Colombia stated that it is going to influence a number of national banks in order to hold over higher reserves on every new consumer loan, because of an unexpected increase in past-due credits and signs the economy is overheating. Juan Carlos Echeverry, Financial Minister of Columbia, has no doubt that new regulations will not only stabilise
Even though petroleum reserves in Colombia have risen by 10 per cent in the previous year, comparing with the year 2010 data, government of the country is still forcing companies to run researches in order to explore future opportunities. According to information from Colombia's government official petroleum agency - ANH - the previous year reserves have reached a number of 2.259
Even though this year Indian stocks are considered to be the worst performing in Asian market, pharmaceutical and consumer arbitrary industries of the country are showing an amazing performance since the beginning of this spring. The sectors are considered to take a defensive part in India's market. The industries are more or less isolated from the negative impact of foreign countries
As G8 leaders vowed to combat financial crisis, cash gold stepped up to USD 1,600 per ounce on Monday. Spot gold increased by 0.4 per cent to USD 1,598.79. However, concerns about Greece and debt crisis do not subside, because world's leaders did not offer any specific prescription on how to rescue the euro area. Therefore, some analysts, like Ed Meir of INTL FCStone, suspect
Industry metals were mostly higher in volatile session on Friday as market participants expected the outcome of the G8 summit.Aluminum lost momentum but continued to appreciate as increased Japan's premiums and recent drop in Tajikistan's Aluminum production lent support for the light metal.Copper was almost unchanged; however, a rise in Japan's copper wire and cables shipments in April may lift
Precious metals extended previous gains on Friday amid broadly weaker US Dollar and China's easing hopes. Gold rose by more than 1%, indicating the largest two-day jump since October. The yellow metal was buyout by hopes for easing policies in the US and China.Silver was the top-gainer, rallying by more than 2% despite weakness of the global equities in view
While investors are expecting BOJ to add stimulus to the economy this week, Lee Hardman of Bank of Tokyo-Mitsubishi UFJ Ltd. considers it would be a premature action and that the situation may self-correct, because Europe would be the main determinant of yen price in the nearest future. On Monday the yen lost 0.4 percent to 101.36 yen per euro and 0.3 percent to
IPO of Facebook Inc. failed to pop, as technical problems arose and massive sell-off erased nearly all gains by the end of the session. At one point the price was up by 18 percent. Nevertheless, after a volatile trading day shares closed at USD 38.23, just 0.6 percent above the IPO price. Experts consider many reasons for such an unsuccessful start. One of the factors is
Crude oil prices advanced on Monday after undergoing 6 straight days of losses, as the dollar depreciated and U.S. stock futures and some of the Asian equity markets increased. By the time of writing crude oil futures for June gained 19 per cent, or 0.21%, to USD 91.67 a barrel. Nikkei Stock Average improved by 0.26 percent, Shanghai Composite index - by 0.09%. Other energy
Markets improved a bit on Monday after a week of heavy losses, but despite G8's call for euro zone to stay unite, investors are still cautious. At G8 summit leaders of industrialized economies agreed to fight financial distress and revive global economy, but they did not propose any specific actions, while for the time being the main threat is coming from European debt crisis. Greeks
National Association for Business Economics (NABE) revised upwards its forecast of monthly job increase in the U.S.A. for this year to 188,000 from 170,000 in its Q1 forecast. NABE estimates that GDP will grow by 2.4 percent in 2012. Growth will become faster in 2013 - 2.8 percent.
Australian consumer spending declined by 1.3% on a seasonally adjusted basis in April, according to Commonwealth Business Sales Index. The card transactions survey indicated that customers still spend but prefer to buy services rather than goods. Australians are focused on experience nowadays rather than just on physical goods, said Craig James, economist from CommSec.
Dollar fell against its major counterparts during Asian trade on Monday as leaders at G8 summit eased concerns over the Euro Zone's crisis by suggesting keeping Greece within the single currency union. The US Dollar Index that measures its performance against basket of six main currencies dropped by 0.16% to 81.09 US Dollars. Meanwhile, EUR/USD traded at 1.2811, gaining 0.25%
Australia and Malaysia are set to sign free trade agreement on Tuesday, said Craig Emerson, Australia's Trade and Competitiveness Minister. The new agreement will allow 97.6% Malaysian goods imports from Australia to exempt from tariffs while the figure may climb to 99% by 2015. Closer economic ties between Austria and Malaysia will improve economic environment for Australian exporters of wide
Yahoo announced that it agreed to sell half of its 40% stake back to Alibaba. Yahoo will raise about 7.1 billion US Dollars from the deal. Alibaba will pay 6.3 billion US Dollars in cash and 800 million US Dollars in preferred stock. The agreement will allow Alibaba to think about IPO while Yahoo will be able to buy back
Crude oil price surged during Asian trade on Monday as Iran announced it would not discontinue its nuclear program that, it claims, serves civil purposes. However, growing OPEC supply and persistent Euro Zone woes capped the upswing. Light, sweet crude oil for July delivery traded at 92.03 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.25%.
Gold futures extended its rally during Asian trade on Monday as indications that US economy y may need additional monetary stimulus continued to lend support for the yellow metal. COMEX gold June contract traded at 1,594.45 US Dollars per troy ounce on the New York Mercantile Exchange, rising by 0.16% since opening.
Morgan Stanley reported that it expects China's economy to expand by 8.5% in 2012 as compared to previous prediction of a 9% growth. Morgan Stanley attributed the forecast cut to slower than expected growth between January and April of 2012 and later than initially expected easing measures. The forecast downgrade came after China announced its GDP growth in Q1 attained