U.S. equities edged higher on Wednesday, as report showed companies hired more workers than expected and the Fed said the world's largest economy is expanding. The S&P 500 Index climbed 0.1% to 1,541.46. Five out of ten groups in the index edged higher. Big Lots Inc. jumped more than 6% to close at $35.97, as the Columbus-grounded retailer's report showed
The Canadian Dollar, also known as the Loonie, was lower by 0.5% to 1.0320 per U.S. Dollar in the end of Toronto trading session on Wednesday. In a previous session the currency depreciated even more, declining by 0.7%, and today the domestic Canada's currency is at the weakest point against the U.S. Dollar. Traders were negative mainly due to the Bank
Farm commodities were mixed on Wednesday, with softs advancing and grains declining. Softs found support on speculation about possible increase in Brazilian ethanol production and threat of coffee leaf rust in Central America. At the same time, improving weather conditions in the US put heavy pressure on grains. Wheat led losses, tumbling to a seven-month low as rain and snow improved
Energy futures except for heating oil finished in red after bearish EIA inventory data. However, uncertainty whether the next president of Venezuela will use oil as a political weapon, like his predecessor Hugo Chavez, restricted the downward trend of the commodity complex. Crude oil slid after the EIA data showed inventories rose much more than expected last week. Stockpiles climbed 3.8
Industrial metals were bearish on Wednesday despite positive news from the US. The latest data showed US employers increased hiring more than expected last month. Moreover, on Tuesday, China left its growth target at 7.5%, boosting demand prospects for the commodity group. Aluminum sagged 1.16% after Sumitomo Corp. raised its forecast for the world's aluminum surplus to a two-year high, saying
Precious metals apart from platinum traded higher on Wednesday despite broadly stronger greenback after upbeat US jobs data. The commodity sector found support on talks the ECB and Fed will stick to their loose policies. Gold climbed amid robust physical demand from central banks across the globe and speculation that the ECB and Fed will continue their easing measures. However,
West Texas Intermediate oil bounced off from the lowest level of this year on Tuesday, as U.S. shares advanced amid company earnings data and as the Federal Reserve decided to continue with its stimulus programme. WTI oil for April delivery increased 0.5% to $90.59 after it fell to its lowest level since December 24 on Monday to $90.12.
The volume of retail trade added on a monthly basis 1.2% in the 17-nation bloc, while in the larger European Union it expanded by 0.9% in January, following respective 0.8% and 0.7% decreases in retail trade the month before, according to a report released by Eurostat. Year-on-year, the retail sales index declined by 1.3% in the Eurozone and dropped by
According to the Institute for Supply Management, the U.S. non-manufacturing PMI fell to 55.2 in January, following a recorded figure of 55.7 in December. The figure was matching the preliminary estimates and, still being in the positive ground, indicates expansion of the economy. Further forecasts expect a slide down to 55.0."The ISM survey signals that growth in the service sector
The Canadian Dollar reached its weakest level in eight months versus the U.S. Dollar after the Bank of Canada stated that in the nearest future it would not raise-up interest rates due to inflation, that is slowing more than it was expected. The loonie dropped 0.5% to C$1.0305 versus the greenback after previously depreciating 0.7%. One Canadian Dollar buys 97.04
Due to increase in government investment and exports, Australia's economy expanded by adding 0.6% in Q4 of 2012 and 3.1% for the complete year. Those figures topped economist's expectations, as the annual growth was at its highest level since 2007. In seasonally adjusted terms, the main contributors to GDP were manufacturing, that added 2.1%, health care and social assistance, that
German shares extended their five-year high, as Henkel AG and Lanxess jumped and optimism among investors rose, as central banks said to continue stimulus measures. The DAX Index climbed 0.8%, or 59.33, to 7,929.72 at 5:31 p.m. in Frankfurt. Muenchener Rueckversicherungs AG rallied 3.1%, the most in the index, to pace gains in financial shares. Furthermore, Lanxess AG posted the
U.K. shares kept advancing on Wednesday, remaining at its five year high on positive data about U.S. private payrolls that beat the estimates. The FTSE 100 Index soared 0.3%, or 15.27 points, to 6,447.18. All except one sector edged higher in the index with basic materials posting the biggest gains. Vodafone Group Plc. rallied 6.4%, the most in four years
GDP of the 17 nations sharing the Euro slid 0.6% in the Q4 versus the Q3 of 2012. Comparing Q4 of 2012 with the same quarter the year before, in the Eurozone GDP decreased 0.9%. During the whole year of 2012, GDP contracted by 0.6%."This was the worst quarter in the recessionary cycle," said Mads Koefoed, an economist at Saxobank.
Hong Kong equities closed higher on Wednesday with the Hang Seng Index rising 0.96%, or 217.34 points, to 22,777.84, as financials and exporters were boosted by overnight gains on Wall Street. All but one group in the index advanced at least 0.4%. Belle International posted biggest gain in the gauge, as BofA Merrill Lynch maintained the retailer's "buy" rating. China
Japanese equities extended their gains, as the U.S. services industry accelerated its growth pace to the fastest in a year on rising optimism over more monetary stimulus. The Nikkei 225 Stock Average jumped 2.1% to 11,932.27, yet with the total volume declining by 22%. All sectors within the gauge edged higher, especially the blue chip companies exporting to the U.S.
Copper appreciated for a third day on service sector in the U.S., the second largest consumer of copper, expanded more than forecast, increasing demand for the commodity. The contract for Copper delivery in 3 months gained 0.5% and was settled at $7,812.50 a metric ton in London, May-delivery Copper advanced 0.4% to $3.5285 per pound in New York. According to
The Pound depreciated versus the U.S. Dollar for the first time this week ahead of Bank of England monthly two-day meeting in London to decide whether to expand monetary policy. The Sterling fell against 15 of its 16 main counterparts on economists expect the BOE to increase assets purchase by at least 25 billion Pounds from 375 billion Pounds. The
Dow Jones Industrial Average reached a record high level on growing optimism about central banks and China's pledge to maintain the growth target. The Dow climbed 0.9%, or 125.95 points, to 14,253.77, beating its previous highest level at 14,164.53. 27 out of 30 blue chip companies edged higher. Cisco Systems jumped 2.3%, the most in the gauge, adding to
Farm commodities apart from coffee advanced on Tuesday amid hopes for robust China's demand. However, signs of improved weather conditions in the US as well as worries over a record high harvest in Brazil put heavy pressure on the commodity complex. Wheat rose despite forecasts that global wheat output will recover in 2013-14 mostly due to expected jump of 14% in
Energy futures traded mostly higher on Tuesday amid better-than-expected numbers from the US non-manufacturing sector and positive outlook on China's economy for 2013. Meanwhile, market players focused on the EIA supply report due on Wednesday. Crude and Brent oil jumped as positive news from the US and China improved perspectives for energy demand. Moreover, expectations of a bullish EIA report were
Industrial metals rose on Tuesday after China left unchanged its growth target for 2013 as the government wants the country to expand gradually and maintain social stability. Moreover, positive US numbers boosted the commodity group. US non-manufacturing sector expanded faster than expected last month. Aluminum moved higher amid positive headlines from the US and China. However, elevated LME inventories, which remained
Precious metals rebounded on Tuesday on after Federal Reserve Vice Chairman Janet Yellen said that the Fed should continue its bond-buying activities. Moreover, expectations that the BOJ will also ease its monetary policy supported the commodity complex. Gold climbed on hopes that the Fed will stick to loose monetary policy to spur economic activity. The yellow metal also drew strength from
U.S. blue chips rose, as China pledged to maintain its growth target of 7.5% and investors look forward to more monetary stimulus measures from central banks. The S&P 500 Index advanced 1% to close at 1,539.79. All ten groups in the S&P 500 gauge edged higher. TripAdvisor Inc. posted biggest gains in the index with its shares rallying 4.8% to