Gold fell for a third day toward the lowest level in a month as a stronger greenback weakened demand for commodities. Spot gold dropped as much as 0.4% to $1,687.15 an ounce, and traded at $1,690.88 at 3:34 p.m. Singapore time. The precious metal declined to $1,684.93 a day earlier, the lowest since November 6, as the U.S. Dollar rose
Asian stocks gained, with the regional benchmark index poised for the highest close in 8 months, as data on U.S. factory orders and services overshot expectations. The MSCI Asia Pacific Index rose 0.3% to 125.59, heading for the highest close since April 3. Japan's Nikkei 225 Stock Average added 0.8% after the Japanese Yen traded at the lowest level in
Oil traded near one-week low in New York as a report showed gasoline inventories surged the most in 11 years. Crude for January settlement was down by 23 cents to $87.65 a barrel at 2:48 p.m. in Singapore. Prices declined 62 cents a day earlier to close at $87.88 a barrel, the lowest since November 28. Brent for January delivery
Australia's jobless rate unexpectedly declined in November, sending the Australian Dollar higher. The unemployment rate dropped from 5.4% in October to 5.2%, according to data released by the statistics bureau, while economists projected an increase to 5.5%. The Aussie was at $1.0469 at 1:03 p.m. Sydney time, comparing to $1.0447 before report release.
European equities trimmed gains today, as Eurozone retail sales fell sharply in October and Spanish debt auction showed disappointing results. The retail sales lost 1.2%, considerably more than the forecast 0.1% decline. However, investor confidence continued to improve on slow resolution of the Euro-area's crisis. The German DAX index increased 0.05% to 7,439.10 by 15:47 GMT. Only two out of
European shares advanced for the second consecutive day, driven by banks and mining sector companies, after China showed extended policy support for the nation's economic recovery. In addition, optimism was raised on hopes U.S. lawmakers will avert the looming fiscal cliff. The FTSE index advanced, despite the negative data on UK's Services PMI that showed the nation's service sector unexpectedly
Hong Kong shares persisted to advance, touching their highest level since August 2011.The gains were prompted by a rally in Chinese onshore markets and comments from the new Communist Party chief. In addition, the investor appetite has been renewed on appreciating euro and advancing Asian stocks. The Hang Seng index surged 2.16% to 22,270.91 after peaking at 22,274.04 earlier in
Asian stocks advanced on gains in Chinese equities, as Communist Carty chief raised optimism on economic recovery in China. In addition, risk appetite rose, after Yen depreciated against the greenback, thus boosting up the shares of Japanese exporters. The Nikkei 225 index gained 0.39% to 9,468.84, rebounding from its previous losses of 0.6%. Driven by exporters and hopes for further
U.S. blue chips fell on Tuesday as concerns about fiscal cliff continue to pressure stock markets. The president Barack Obama rejected the possibility of lowering the tax rates in 2013 and stayed in strong position to increase the tax rate for high-income earners. He also said that 98% of taxpayers could continue to pay lower taxes, whereas taxes on the
U.S. shares dropped as the President Barack Obama did not step back from his intent to raise taxes for the higher income earners in the nation. The administration of Barack Obama rejected Republican plan to avert the fiscal cliff without raising taxes for highest-income residents only a month before $600 billion in tax increases and spending cuts are coming into
European equities trimmed gains today, as Eurozone retail sales fell sharply in October and Spanish debt auction showed disappointing results. The retail sales lost 1.2%, considerably more than the forecast 0.1% decline. However, investor confidence continued to improve on slow resolution of the Euro-area's crisis. The German DAX index increased 0.05% to 7,439.10 by 15:47 GMT. Only two out of
European shares advanced for the second consecutive day, driven by banks and mining sector companies, after China showed extended policy support for the nation's economic recovery. In addition, optimism was raised on hopes U.S. lawmakers will avert the looming fiscal cliff.The FTSE index advanced, despite the negative data on UK's Services PMI that showed the nation's service sector unexpectedly shrank
Hong Kong shares persisted to advance, touching their highest level since August 2011. The gains were prompted by a rally in Chinese onshore markets and comments from the new Communist Party chief. In addition, the investor appetite has been renewed on appreciating euro and advancing Asian stocks. The Hang Seng index surged 2.16% to 22,270.91 after peaking at 22,274.04 earlier
Asian stocks advanced on gains in Chinese equities, as Communist Carty chief raised optimism on economic recovery in China. In addition, risk appetite rose, after Yen depreciated against the greenback, thus boosting up the shares of Japanese exporters. The Nikkei 225 index gained 0.39% to 9,468.84, rebounding from its previous losses of 0.6%. Driven by exporters and hopes for further
U.S. blue chips fell on Tuesday as concerns about fiscal cliff continue to pressure stock markets. The president Barack Obama rejected the possibility of lowering the tax rates in 2013 and stayed in strong position to increase the tax rate for high-income earners. He also said that 98% of taxpayers could continue to pay lower taxes, whereas taxes on the
U.K.'s service sector expanded at the slowest pace in almost two years last month as new orders declined, adding to signs the nation's economy might start shrinking again. The Markit/CIPS services PMI tumbled to 50.2 from 50.6 in October, missing economists' expectations of an increase to 51.1. However, a composite PMI for the U.K., which includes manufacturing, services and construction
Norway's current account surplus increased to 96 million Norwegian Krona in the third quarter, comparing with 86 million Norwegian Krona in the second quarter. Account surplus increase was mainly driven by strong improvements in income and transfer account - the surplus on the income and transfer balance was 29 billion Norwegian Krona in the third quarter, recovering from a deficit
The composite output index, indicating the combined output of manufacturing and service industries, increased to 46,5 in November, comparing with 45,7 in October, as a survey by Markit Economics revealed on Wednesday. The downturn continues in both sectors and analysts say that the EU will face a considerably bigger loss of GDP in the fourth quarter than it was 0.1%
The purchasing managers' index for a service sector was 46.2 in November, slipping from 50.2 in October, as Swedbank's survey revealed on Wednesday. That was the lowest level since August 2009. Volume of corporate business and new orders had the biggest negative effect for the index. The employment index felt in the slowest pace since August during this year.
The Czech Republic retail sales increased by 2.2% on a yearly basis in October, reversing from a 2.9% decline in September, as the Czech Statistical Office announced on Wednesday. The actual number was lower than economists' estimation of 2.5% growth in retail sales. Sales, including petrol, was higher by 2% comparing with last month, but a on monthly basis, trade
The Spanish business activity index increased to 42,2 in November, comparing with 41,2 in October, according to Markits Economics survey released today. Although the Spanish service sector shrunk slower and that was a second consecutive month as contraction eased, but the actual figure, which is much lower than 50, indicates a solid decline in domestic business activity.
The Euro Stoxx 50 Index futures, which expiring this month, were 0.8% higher to 2.607 points in the very beginning of London trading session on Wednesday. That is the third day as the index increases, but despite the positive sentiments, traders are waiting economic data from the U.S. and Europe, which will determine further market direction.
The Shanghai Composite Index was increased by 2.9% to 2,031.91 points at the end of Asia trading session on Wednesday. That was the biggest gain of China's stocks in three months, as the government enable insurers to invest in banking sector companies and traders speculated about a possible increase in profit in construction and cement companies.
The S&P 500 index felt by 0.2% to 1,407.05 points and the DJIA lost 0.1% to 12,951.78 points in the end of New York trading session on Tuesday. Equities markets edged lower on investors concerns about the U.S. budget for 2013. The main disagreement between Congress and Barack Obama was the U.S. President's position about increasing tax rates for the