Budget deficit of the U.S. government dropped significantly in October-January of the current financial year, retreating by 36.6% on the annual basis. In January only, the deficit reached $10.4 billion, also considerably lower than it was predicted by analysts. The U.S. Budget Office forecasts the deficit to decrease from $680 billion in the financial year 2013 to $514 billion this
The Central Bank of Sweden decided to implement no changes to the monetary policy in the country, keeping the main interest rate at 0.75%, as it was expected by analysts. The Riksbank wants the economy to recover on a higher pace, as dependence on exports and falling demand in Europe decreased economic growth. Moreover, the CB forecasts the inflation to
Nestle SA, the Swiss-based largest food company in the world, expects its revenue to rise slightly in 2014, close to its worst growth pace of 4.1%, registered in 2009. As predicted, sales will pick up 5% this year. At the same time, company expects the sales to rise faster in the second half of the year. Today, Nestle SA equities
BNP Paribas SA, the biggest bank in France, posted a considerable decline in its quarterly profit, while it set aside more than $1.1 billion to cover legal charges. Net income for October-December reached 127 million euro versus 519 million euro a year ago. Analysts waited for a 1.02 billion euro profit. Today, BNP Paribas shares are losing 4.7% to 57.98
Unemployment level in Sweden surprisingly advanced in January of this year, reaching 8.6%, up from 8.4% in January 2013. At the same time, analysts predicted the indicator to fall to 8.3%. Therefore, the total number of people without any work hit 436,000. Moreover, it is worth pointing out that among young people aged 15 to 24 years jobless rate stayed
European equities retreated on Thursday session signaling that the region's benchmark index Stoxx Europe 600 is set to snap its longest streak of gains this year and companies from Zurich Insurance Group to BNP Paribas SA reported earnings. The Euro Stoxx 50 Index with settlement in March fell 0.4% to 3,082 as of 7:17 a.m. London time, while the London's
Gold increased on Thursday trading session rising towards the strongest level in a three-month period as investors assessed prospects of further U.S. stimulus cuts and signs of reducing physical demand mainly from Asia. Bullion for settlement in February swung between gains and losses and was last seen at $1,289.33 an ounce as of 2:50 p.m. Singapore time.
The European benchmark Brent crude declined today with the Brent-WTI premium shrinking to the narrowest level since October after the Keystone XL pipeline started moving oil to Texas again and as inventories at storage hub have felt to 37.6 million barrels. Brent for delivery in February shed 46 cents to $108.33 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil slipped on Thursday trading session on concerns that recent rally towards the strongest level in nearly four months was too rapid according to a technical analysis. WTI for settlement in March fell 74 cents to $99.63 per barrel on the NYMEX and was last seen at $99.75 as of 3:30 p.m. in Singapore.
Performance of the Europe's largest economy is likely to improve this year than preliminary estimated mainly due to an increase in domestic demand, a data revealed by the Economic Ministry showed on Wednesday. German gross domestic product may grow by 1.8% in 2014, which is upwardly revised from a 1.7% gain estimated earlier in October.
Domestic corporate good in the Asia's second largest economy slightly increased in January matching initial economists' projections, a report published by the Bank of Japan showed on Thursday. Japan's corporate goods prices index advanced modestly by 0.1% in January standing at a level of 102.9 points following an advance by 0.3% in the month before.
Australia's unemployment rate increased significantly in the first month of 2014 missing an initial economists' forecast and recording the highest reading since 2003, a report published by the Australian Bureau of Statistics showed on Thursday. The country's jobless rate came in 6.0% in January, while it was forecast to growth to 5.9%, the same level recorded in December.
Economic recovery in the 18-nation bloc remains fragile at the beginning of the new year signaling that the European Central Bank may be under pressure about cutting interest rates further or providing financial stimulus, HIS Global Insight revealed on Thursday. According to the IHS Global Insight, the Eurozone may has expanded in range between 0.2-0.3% in the last quarter of
Inflation measured as harmonized price index in the Europe's largest economy remained unchanged at the beginning of 2014, the latest data revealed by the Federal Statistical Office showed on Thursday. According to the report, German harmonized index of consumer prices gained 1.2% in January after recording the same reading in the previous month matching preliminary estimates.
Portugal's tenth disbursement totaling 910 million euros provided by the International Monetary Fund was agreed by the fund today as a part of the country's bailout program after the fund representatives completed country's review, the IMF Executive Board revealed on Thursday. According to the IMF, Portugal short-term outlook and unemployment improved, while risk remains high.
United Kingdom house prices accelerated in January, however the pace of growth was lower than recorded in the last month of 2013, a private survey released by the Royal Institution of Chartered Surveyors showed on Thursday. According to the survey, the country's house prices slipped modestly from December's Plus-56 to a level of Plus-53 in January.
Inflation expectations among Australia's consumers stayed unchanged and remained within the 2-3% target set by the Reserve Bank of Australia, a survey published by the Melbourne Institute showed on Thursday. According to the survey, the country's inflation is forecast to record 2.3% over the coming year, the same rate recorded in the month of January.
The Australian Dollar recorded a steep decline on Thursday as a report showed that unemployment rate in the country increased to the highest level since 2003 rising speculation for further rate cuts. The so-called Aussie slipped 1.1% to $0.8928 falling from the strongest level in a month at $0.9068 touched on Wednesday, it also lost 1.2% versus yen to 91.34.
The majority of Asian shares inched lower on Thursday trading session falling from their highest level in three weeks and snapping five-day winning streak amid concerns over global economic growth as the U.S. Federal Reserve may continue to scale back its stimulus measures. The MSCI broadest Asia-Pacific gauge outside Japan dropped 0.7% following an increase by 4.5% in the previous
West Texas Intermediate crude increased on Wednesday rising towards the strongest level in a seven-week period after a report showed that distillate stockpiles in the U.S., the world's largest oil consumer, declined as cold weather may hit Georgia. WTI for settlement in March jumped 75 cents to $100.69 per barrel on the NYMEX, the most since December 27.
Gold decreased on Wednesday falling from the strongest level in a two-month period as rising equities world-wide pushed a demand for safe-haven assets lower and amid concerns that physical purchases may be reduced as gold prices spurred. Bullion for settlement in February dropped 0.4% to $1,285.97 an ounce as of 9:48 a.m. London time.
Natural gas traded in New York jumped on Wednesday trading session extending previous' day gains amid speculation that heating oil inventories in the U.S. dropped by more than forecast as cold weather boosted demand. Natural gas for settlement in March advanced 20.4 cents and was last traded at $4.930 a million British thermal units as of 12:50 p.m. on the
Italy's benchmark 10-year government bonds increased on Wednesday session with the yields falling towards the weakest level in an eight-year period after the borrowing costs of Portugal and Greece slipped to lowest levels since 2010. Italian 10-year notes yielded at 3.69% as of 1:14 p.m. in London following a drop to 3.66%, the least since February 2006.
Borrowing costs in Europe declined towards the lowest levels since 2010 after recent data showed an improvement in the region's economy as the euro-area confidence increased and manufacturing accelerated in January. The German 10-year yields were last seen at 1.69%, while the Greek 10-year notes yielded at the weakest level in 4 years at 7.41%.