U.S. equities advanced, as the Standard & Poor's 500 Index showed its first monthly decline since October, ahead of the data that may indicate manufacturing recovered previous month from its biggest fall since 2009. The S&P 500 jumped 0.7% to 1,617.92 and the Dow Jones Industrial Average gained 0.6% to 15,001.39.
Unemployment rate in the Euro block rallied and reached a record high level, indicating that the recession in business activity prolongs to reflect on the labor market in spite of growth signs in the economy. The unemployment rate climbed to 12.1% in May, there were approximately 19.22 million jobless people in the Eurozone in May.
Eurozone manufacturing output declined less than previously expected in June, fueling the speculations that Euro-area is starting to recover from recession. Manufacturing gauge in the Euro bloc rose to 48.8 previous month from 48.3 in May and that is above the expected 48.7 on June 20. Today's PMI report followed a promising sentiment report for June.
Spanish 10-year government notes inched up for the fifth day as Spain's index of manufacturing advanced in June, topping economists' estimates. Spanish 10-year bond yield declined 10 basis points to 4.66% and the 4.4% note maturing in October 2023 jumped 0.825 to 97.9. Manufacturing index in Spain rallied from 48.1 in May to 50.
Japan's stocks increased, with the Topix index prolonging the largest three-day rise in about three months, after the Japanese Yen declined and a survey indicated positive manufacturer confidence for the first time in seven quarters. The Topix jumped 1.5% to 1,150.70 and the Nikkei 225 Stock Average added 1.3% to 13,852.50.
U.S. share futures gained, after the Standard & Poor's 500 Index posted first one-month decline since October, ahead of U.S. manufacturing data that are expected to show that it bounced off previous month. S&P 500 futures expiring in September advanced 0.6% to 1,609.3 as of 6:13 a.m. New York time; however, the gauge dropped 1.5% in June, reversing its rise
The Japanese Yen depreciated as data indicated Japan's manufacturers sentiment climbed for the first time since September 2011. European shares and U.S. equity-index futures, and metals pushed commodities higher. The Yen declined 0.4% to 99.57 against the U.S. Dollar. The Standard & Poor's 500 Index futures rallied 0.5%.
The common currency remained higher versus the U.S. Dollar and the Japanese Yen following data that indicated inflation in the Euro block increased while unemployment rate climbed. The 17-nation currency jumped 0.3% to $1.3042 and inched up 0.7% to 129.88 against the Yen. The yearly inflation rate in the Eurozone rallied to 1.6% previous month from 1.4% in May.
U.K. government gilts decreased for the second day as industry data indicated U.K. house prices advanced in June, curbing demand for safer assets. The 10-year bond yield climbed three basis points to 2.47% and the 1.75% note maturing in September 2022 declined 0.205 to 94.125. Home prices in England and Wales climbed 0.4% in June.
South Korean Won advanced for the fifth day, continuing the longest period of climbs in two months, as manufacturing in China grew matching the preliminary estimates, fueling optimism about China's economic outlook. The South Korea's currency jumped 0.5% to 1,136.73 against the U.S. Dollar. Chinese Purchasing Managers Index came in at 50.1.
Activity in the U.K. manufacturing sector surged to 25-month highest level and reached 52.5 points in June. Moreover, the PMI Index for May was upgraded to 51.5 points as well. Economists expect both the manufacturing sector and economy to grow 0.5% in the Q2. The second and third quarters of the year have traditionally represented the biggest economic expansion during
Spanish 10-year government securities rose for a fifth consecutive day after better-than-expected manufacturing data release. The report showed an increase from 48.1 in May to 50 last month, whereas 50 is the dividing line between expansion and contraction. Yield on 10-year Spanish bonds decreased 8 basis points to 4.69%, while yield on similar maturity Italian bonds dropped 5 basis points
European shares gained, following the benchmark Stoxx Europe 600 Index first one-week advance in more than a month, as the Eurozone's factory output data are awaited. The Stoxx Europe 600 Index added 0.6 to 286.59 as of 8:49 a.m. London time; moreover, the gauge rose 1.7% previous week. Standard & Poor's 500 Index futures advanced 0.5% and the MSCI Asia
U.K. shares gained, prolonging the biggest one-week advance for the benchmark FTSE 100 Index since April, as Japanese manufacturing reports improved confidence in countries economy. The FTSE 100 Index rose 0.9% to 6,268.44 as of 8:57 a.m. London time, prolonging previous week's 1.6% gain. The FTSE All-Share Index added 0.8% and Ireland's ISEQ Index climbed 0.1%.
Treasuries fell as experts predict that this week's data releases will show that the U.S. economy added as many jobs last month as in May, which resulted in limited demand for safe-haven assets. The yield on 10-year government securities increased 2 basis points to 2.5%. It is expected that the Treasuries' yield will reach 3% by the end of the
German shares advanced slightly, after the DAX Index posted a one-month decline, as the Eurozone's and the U.S. manufacturing data are awaited by investors. The benchmark DAX Index gained 0.1% to 7,969 as of 9:48 a.m. Frankfurt time. The equity-benchmark retreated 4.7% in June as the Fed indicated that it could start tapering monetary stimulus if the U.S. economy grows.
Gold gained for a second straight day as the fall to the lowest level since 2010 previous week lured investors to stay steady. Spot gold advanced 1.1% to $1,248.12 an ounce and was at $1,244.52 as of 2:49 p.m. Singapore time, after retreating 0.7%. The yellow metal prices slid to $1,180.50 on June 28, reaching the 34-month low.
The data showed that Chinese manufacturing slowed in June, indicating a general slowdown in the economy. Purchasing Managers Index dropped from 50.8 in May to 50.1 in June, the weakest in 4 months. PMI gauge was 48.2, the lowest since September. 50 is a diving line between expansion and contraction. Experts predict that economic growth slowed down for a second
Large Japanese manufacturers showed aggregate optimism in June, indicating trust in Abe's stimulus programs to bring Japanese economy out of stagnation. The Tankan gauge rose to +4 from -8 in March, while experts predicted a rise to +3. A positive number in the survey means that optimistic manufactures outnumbered pessimistic ones. Big companies plan to expand investment by 5.5% this
The British Pound remained almost unchanged versus the U.S. Dollar after announcement of data, which showed that U.K. house prices increased for a fifth consecutive month. The report showed a rise of 0.4% in June. The Pound stood at 1.5224 U.S. Dollar as of 7:35 a.m. in London. Carney will replace current BoE governor King today to lead his first
Asian shares outside Japan dropped due to worse-than-expected manufacturing activity data in China, which showed slowest growth in 4 months. The MSCI Asia Pacific Excluding Japan Index decreased 0.3% to 403.7. S&P/ASX 200 Index lost 2%, while NZX 50 Index dipped 0.6%. The Shanghai Composite Index slipped 0.4% as Japanese Topix rose 1%.
The U.S. Dollar rose to its three-week high against the Yen before the U.S. ISM factory data, which is expected to show factory output growth. The Yen fell as report showed that Japanese manufacturers' optimism was strongest in two year, increasing risk-appetite, which decreased demand for safe-haven assets. The greenback rose 0.3% to 99.47 Yen.
The Aussie rebounded from its lowest point since September 2010 due to speculations that the RBA will not cut the interest rates tomorrow and amid bets that quarterly decline was excessive. The Australian Dollar's one-month implied volatility was near the highest point in 1.5 years. The currency jumped 0.5% to 0.9185 per U.S. Dollar after weakening 4.5% in June and
Gold traded at the lowest level in almost three years in London after the biggest three-month fall since 1920 following the Fed's comments on scaling back its monetary stimulus. The yellow metal price slipped 28% this year to date and is headed for the biggest one-year fall since 1981. Bullion for immediate delivery gained 0.2% to $1,202.70 an ounce at