Construction work done in Australia improved in the three months to September compared to the previous quarter, a report published by the Australian Bureau of Statistics revealed on Wednesday. According to the report, the total value of construction work done rose 2.7% in the Q3 standing at A$53.426 billion, while it was expected to rise 0.5%.
Chinese shares increased on Wednesday rising for the first time in a five-day period mainly due to gains of trainmakers, brokerage and defense-related companies and as Japanese Yen weakened against the Euro. The Shanghai Composite Index advanced 0.9% to 2,201.59 as of 1:02 p.m. local time, when it added 1.1% in the last 30 minutes of the morning session.
The European benchmark Brent crude slightly advanced on Wednesday after the American Petroleum Institute revealed that crude inventories gained 6.92 million barrels last week and supplies are forecast to jump by 750,000 barrels in today's report. Brent for settlement in January added 5 cents to $110.93 a barrel on the London's ICE Futures Exchange.
West Texas Intermediate declined on Wednesday falling for the fourth straight session a government report showed that stockpiles in the world's largest consumer of the commodity, U.S., advanced for the ninth successive week. WTI for delivery in January decreased 32 cents to $93.36 a barrel on the NYMEX and traded at $93.43 as of 2:30 p.m. in Singapore.
The 17-nation bloc currency increased on Wednesday traded near the strongest level against its U.S. counterpart and a four-year high versus the Japanese Yen after bank-to-bank lending denominated in Euro rose yesterday. The shared currency added 0.2% to $1.3592 U.S. Dollar hitting the highest level since October 31 at $1.3600, while it jumped to 138.16 Yen.
Wall Street equities slightly advanced on Tuesday with the benchmark index Nasdaq closing above a level of 4,000 for the first time in thirteen years, while S&P and Dow Jones stayed almost flat on the session. The Standard & Poor's 500 Index jumped 0.01% to 1,802.75, the Dow Jones industrial average added 0.26 points to 16,072.80 and the Nasdaq Composite
European equities increased on Wednesday as traders awaited reports showing results of the U.S. consumer confidence and durable-goods orders and as German consumer sentiment is forecast to advance to 7.1 in December from 7 in the prior month. The benchmark index Euro Stoxx 50 expiring in December gained 0.2% to 3,070 as of 7:16 a.m. London time.
Asia equities swung between gains and losses on Wednesday with Chinese shares increasing on geopolitical concerns over defensive measures around Japan disputed islands and as the European currency strengthened against the Japanese Yen. The MSCI broadest Asia-Pacific Index outside Japan slightly rose by 0.1%, while China's CSI 300 Index added 0.9%.
The so-called loonie was 0.02% down at C$1.0540 at 4:12 p.m. GMT time, after prices for crude oil showed positive movement following the world leader's agreement with Iran to limit nuclear activity in Middle Eastern states in return for easing some sanctions on oil, gold and auto-parts. Meantime, the Canadian currency weakened 0.25% to C$1.4287 against the Euro, and 0.15%
Gas for December contract dropped 0.6% to US$3.783 per million BTU as of 10:32 a.m. in New York, after weather forecasters said the temperatures in the eastern part of U.S. will be below-normal, thus reducing demand for natural gas as a heating fuel. The prices for gas advanced to US$3.789 yesterday, heading for highest level since October 15, while trading
U.K. government 10-year gilt yield slipped 0.02% to 2.75% as of 2:11 p.m. in London, following a two day decrease, after Mark Carney said the Bank of England is unlikely to raise immediately its benchmark interest rates despite the fact that U.K. economy is in sustainable recovery. The 2.25% security note maturing in September 2023 advanced £1.65 per £1,000
The Consumer Confidence Index dropped to 70.4 in November from 71.2 in previous month, which is 2 points less than analysts expected, the Conference Board report showed today. The U.S. government shutdown and borrowing limit debates negatively influenced the American's attitude towards national economy, reflected in sharp consumer confidence decline from September's figure of 80.2 to 71.2 in October.
The European stocks dropped, halting the two-day gain, after the companies reported lower profit. The Stoxx Europe 600 Index retreated 0.4%, as one of the Europe's largest cognac producer Remy tumbled 8.6% after forecasted that their annual profit is going to drop by more than 10%, while it's largest rival Pernod Ricard contracted 2.8%.
The Pound dropped against the U.S. Dollar, thus erasing it's previous these day's gains. The Sterling retreated after the Bank of England head Mark Carney announced that the BoE is not going to increase borrowing costs even if the 7% jobless rate is reached. The Pound also faced drop of 0.17% versus the shared currency and slipped 0.15% versus the
The Australian Dollar dropped 0.57% against the U.S Dollar, reaching the lowest level in two month time. The Aussie slipped after the Deputy Governor of Reserve Bank of Australia, Philip Lowe, announced that the threshold for bank's intervention is high, thus hoping to see the Aussie lower over time.
The Japanese Yen advanced 0.3% versus the U.S. Dollar for the first time in four days, after the Bank of Japan meeting minutes stated that the country's economic growth will accelerate, while still being uncertain, whether the inflation will reach the 2% target. So far the Yen has dropped 13% this year having the worst performance among 10 major counterparts.
The U.S. building permits surged 6.2% in October, issuing the most applications in a five-year time. The U.S. home-builders took out 1.03 million permits, compared with previous month when there were issued 974,000 applications. The most significant increase was for the multifamily category, which advanced 15.3% to a 414,000.
The greenback depreciated 0.15% to $1.3137 against the Euro at 3:07 p.m. GMT time, after the Conference Board report showed decline in consumer sentiment index to 70.4 from prior 71.2, missing analysts' expectations of 72.4. Meantime, the U.S. currency slipped 0.17% to $1.6182 versus the Sterling, after BoE said it won't immediately raise interest rates even after the 7% unemployment
Gold bounced off from the lowest level in four months to the highest in approximately a week as the greenback depreciated and lower prices boosted the demand in China. The Yellow metal for immediate delivery gained 0.6% to 1,2580.30 an ounce, the highest since November 20, ahead of trading at $1,252.64 at 12:26 p.m. Singapore time.
U.S. stocks swung, after the Standard & Poor's 500 Index dropped from a record high on Monday, as investors speculated on data that showed a higher house prices and surprisingly sharp advance in building permits. The S&P 500 slid 0.1% day earlier as energy stocks declined; however, it was above 1,800 at the close for the first time ever on
U.K. shares retreated as investors speculated on data that showed U.S. home prices rose the most in more than seven years and the consumer confidence report is awaited. The FTSE 100 Index declined 0.4% to 6,665.92 as of 2:04 p.m. London time; however, the equity-benchmark has climbed 13% this year. The FTSE All-Shares Index fell 0.3%, while Ireland's ISEQ Index
The Reserve Bank of Australia Deputy Governor said on Tuesday that the country needs an increase in productivity together with a rise in domestic demand in order to keep living standards growing. Moreover, the weak exports' data will lead to the slowest advance in incomes for the last 10 years, while the country needs a 3.2% surge in productivity to
Economic growth in India probably went up to 4.6% in the third quarter of the current year from a 4.4% increase in April-June. Therefore, the median estimate of 25 economists suggests the Indian economy to grow less than 5% for a fourth consecutive quarter. Economists say that the lack of investment, together with rising inflation and high interest rates will
One of the largest American banks, Goldman Sachs, expects the global GDP to raise the pace of increase to 4% by the year 2015. It is forecasted the economic growth to cool slightly after a strong increase this year, while the main contributors to the rise in GDP will be European countries and the U.S. Analysts predict the U.S. and