Chinese equities declined on Wednesday falling the most in a seven-week period after the yesterday's Communist Party policy meeting provided unclear details about the country's fight against the economic slowdown. The Shanghai Composite Index slipped 1.8% to 2,087.94, the largest fall since September 26 and the Hang Seng China Enterprises Index shed 2.7%.
European stocks tumbled on Wednesday pushing the benchmark index Stoxx Europe 600 lower for the second straight session before a report showed that industrial production in the Eurozone slipped last month and as investors weighed corporate earnings. The Stoxx 600 fell 0.4% to 320.53 as of 8:10 a.m. London time and it has risen for the last five weeks after
The Sterling dropped 0.3% versus the U.S. currency, thus reaching the weakest level in two-months, after the U.K. government reported slower inflation of 2.2%, which is the lowest level in a year. The inflation has retreated 0.5% from previous month, thus almost reaching 2% mark at which the policy makers might increase interest rate.
The Canadian Dollar dropped 0.2% against the greenback, thus reaching the lowest level in more than two-month time, on bets that the Federal Reserve is going to reduce the stimulus measures, which have helped to support world economy. The loonie has tumbled 3.8% in the last six months, thus having the third worst performance among 10 major peers.
The Euro stops its three-day winning streak against the Japanese Yen, before the European Union's statistics office report on factory output and growth. It is forecasted that the factory production in the Eurozone is going to decrease 0.3% and the economy will expand only 0.1% in September, thus adding bets that the European Central Bank is going to carry out
The European benchmark Brent crude advanced on Wednesday trading session amid speculation that tomorrow's report may show inventories increased for the eight straight week after adding 800,000 barrels last week signaling that the oil market is well-supplied. Brent expiring tomorrow rose 24 cents to $106.05 a barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude fluctuated on Wednesday traded close to the lowest level in a five-month period before a government report showed that stockpile in the U.S. accelerated to the highest level since June. December WTI futures traded 8 cents higher at $93.12 a barrel on the NYMEX as of 2:07 p.m. in Singapore, while the prices dropped $2.10 to
Natural gas advanced on Wednesday rising for the seventh straight day in New York, the longest streak of gains since January 2011 amid expectations of lower-than-average temperatures in the U.S. boosting the heating fuel demand. Natural gas for settlement in December gained 0.9% to #3.651 per million British thermal units on the NYMEX.
Stocks in Japan declined on Wednesday with the regional benchmark index Topix snapping a two-day gain as builders and shipping companies fall and as investors weighed corporate earnings. The Topix dipped 0.1% to 1,204.19 Tokyo time following an increase of 0.4% earlier on the session, while Nikkei 225 Index decreased 0.2% to 14,567.16.
U.S. Treasuries advanced on Wednesday before the future Federal Reserve Governor Janet Yellen faces a confirmation hearing on Thursday on speculation the central bank may keep the bond-purchases at current level in order to avoid an economic slowdown. The U.S. benchmark 10-year yields dropped two basis points to 2.75% by 6:53 a.m. London time.
The South Korean currency decreased on Wednesday dropping to the weakest level in a month after demand for emerging-market currencies fell as the Federal Reserve representatives signaled that the stimulus may be trimmed as early as December. The Won weakened 0.1% to 1,072.53 per U.S. Dollar in Seoul following a slip to the lowest since October 10 at 1,074.20 earlier
The U.S. currency declined on Wednesday but remained close to the strongest level in two months versus the Japanese Yen amid speculation that the Federal Reserve may trim its monetary bond-purchase program in December. The U.S. Dollar slipped 0.2% to 99.46 Yen following an increase to the highest level in two months on Tuesday at 99.80.
U.S. stocks closed slightly lower on Tuesday trading session as rising government yields started debate over the Federal Reserve bond-buying program and its possible tapering after recent favourable economic data. The Dow Jones Industrial average fell 0.21% to 15,750.67, the Standard & Poor's 500 Index dipped 0.24% to 1,767.69 and the Nasdaq Composite Index added 0.13% to 3,919.92.
Asia shares declined on Wednesday falling to the weakest level in a six-week period after the Federal Reserve officials signaled that the U.S. central bank may scale back its bond-buying program sooner than expected. The broadest MSCI Asia-Pacific index outside Japan fell 1.4% recording its fifth successive drop, when slipped to the least in more than a month.
According to Canadian government's plan, the federal budget will report the first budget surplus in the financial year, which starts in April 2015. The renewed fiscal plan forecasts the surplus to reach $3.7 billion instead of $800 million that was predicted before. The government projects a decrease in both revenues and expenses by 2016. The free money will be spent
Economic growth in Russia slowed to 1.2% in July-September quarter of this year on the annual basis, showing the same pace of increase as a quarter ago. The result matched forecasts of the Ministry of Economy, but fell short of economists' predictions for a 1.4% expansion. Analysts say that the lack of investment into Russian economy started to negatively affect
Starbucks Corp., the biggest coffee-shop chain in the world, will cover $2.76 billion of costs to terminate the contract of with Mondelez International Inc., the intermediate to sale Starbucks' products. The payment consists of $527 million as attorneys' fees and interest, and $2.23 billion as damages. Yesterday, Starbucks Corp. lost 0.46% to $80.61 per share during the trading session in
According to the Australian Statistical Bureau data, the cost of employing labor in Australia increased 0.5% in July-September quarter of the current year. Meanwhile, experts forecasted the wage cost index to add 0.7%, the same as a quarter ago. Moreover, the wage costs jumped 2.7%, comparing with the same period of the previous year, and that also came below predictions
Number of orders for machinery in Japan decreased 2.1% in September of this year on a monthly basis, while analysts expected them to lose only 1.4%. Such a decline follows a 5.4% advance a month earlier. At the same time, the government officials say that machinery orders, in general, are growing, as the total number of them jumped 4.3% in
UniCredit SpA, the largest bank in Italy, expects the fourth-quarter profit to be almost the same as July-September net income of 204 million euros. Bank's CEO Federico Ghizzoni said on Tuesday that the economic decline in Italy will negatively continue to weigh on the demand for new loans. Today, UniCredit SpA shares are trading up 0.09% to 5.47 euros per
Consumer prices in Sweden returned to decline in October of this, as the annual deflation reached 0.1%, while analysts forecasted the prices to add 0.2%. The Riksbank's target for inflation is 2%. At the same time, economists do not expect the monetary policy of Riksbank to change rapidly in the nearest future, as the central bank holds the main interest
Consumer price index in the United Kingdom fell to 2.2% in October of the current year from 2.7% in September, as analysts expected the inflation to slower to 2.5%. At the same time, the core inflation dropped to 1.7%, which excludes tobacco, alcohol, food and energy. Statistical Office said that a decrease in inflation was mainly driven by air fares,
Platinum is likely to increase in a period of the next six months after London-based Johnson Matthey Plc forecast that demand for the metal will exceed supply as carmakers are expected to purchase less platinum for the first time in four years. November platinum contract has declined 6.8% to $1,435.30 an ounce this year in London and is set to
European equities swung between gains and losses on Tuesday after the prices extended a five-week increase yesterday as traders weighed companies earning reports followed by a 2.1% advance of Henkel AG and a 1% rise of UniCredit SpA. The benchmark index Stoxx Europe 600 dipped 0.2% to 322.89 as of 8:09 a.m. London time.