UK equities moved higher on stronger demand for riskier assets after Eurozone's finance ministers and the IMF agreed to release the next part of Greek bailout. Meanwhile, market sentiment was also supported by news that the UK GDP expanded by 1% in Q3, unchanged from the initial estimate. Positive data from the US also lifted UK blue chips. US durable
Soybeans advanced to the highest in two weeks in Chicago amid speculation that bad weather conditions in South America will restrain production. Brazil's planted soybean crop is 7% less than in 2011, while in Argentina only 37% of the crop was planted, 14% less than last year. The contract for January-delivery soybeans gained 0.7% and was settled at $14.3525 a
The Pound strengthened against the Euro for the first time since Friday amid concerns that European Union finance ministers' decision to ease Greece bailout terms will not solve debt crisis. The U.K. currency appreciated 0.1% and traded at 80.84 pence per Euro, following a decline to 81.14 pence, a five-week low. The Pound also gained against 14 of its 16
Hong Kong stocks fell on Tuesday despite growing optimism over the Eurozone after finance ministers and the IMF reached a consensus over urgently needed Greek bailout tranche. Moreover, China's industrial profits soared by annualized 20.5% in October, lifting Chinese stocks. However, fading hopes that China will ease its prudent monetary policy weighted on Hong Kong blue chips. Only three in
Japanese shares advanced on Tuesday on optimism over the Eurozone. Eurozone's finance ministers and the IMF agreed on releasing the next Greek bailout installment to keep the country afloat. Moreover, Japan's stocks found support on mounting hopes that opposition party, which is in favor of more aggressive monetary measures, will win next month election. The Nikkei 225 Index climbed 0.37%
Dow slid on Monday amid lingering concerns over the Eurozone. Eurozone's finance ministers met to decide on Greek bailout installment on Monday. Adding to losses of the US blue chips, market players remained cautious ahead of US consumer confidence data and Ben Bernanke speech due on Tuesday. The Dow Jones Industrial Average Index lost 0.33% to close at 12,967.37. Only
US stocks inched down on Monday as traders were cautious ahead of the Greek bailout deal. Persistent worries over looming US fiscal cliff also continued to weight on US stocks. However, market sentiment remained well-supported as investors hope that consumers will spend more this month. The S&P 500 Index eased down 0.2% to close at 1,406.29. Only two in ten
The National Bureau of Statistics showed on Tuesday that profits in Chinese industrial sector witnessed a sharp increase, which added to signs of improvements in the economy. The net profits increased by 20.5% on an annual basis, reaching a level of CNY 500.1 billion last month. The previous month reading was equal to 7.8%.
The Reserve Bank of New Zealand revealed on Tuesday that expectations of inflation decreased in Q4. The median 2-year ahead expectations dropped to a level of 2.3% compared to a reading of 2.5% in the preceding quarter. The mean 1-year ahead expectations declined to 1.77% from a level of 1.98% during the previous quarter.
The Bank of Japan reported on Tuesday that the index which measures corporate service prices fell by 0.7% on an annual basis last month. Economists, however, expected that the index would experience a more moderate decrease of 0.6% in October. Month over month, the index was down 0.1% compared to a flat reading in the preceding month.
Demand for capital goods surged the most in the former five months in October, indicating the U.S. companies regain their trust in the nation's economy. Data released by the Commerce Department showed that non-defense capital goods orders, except for aircraft, added 1.7% in the previous month, whereas bookings for durable goods stayed little changed, yet exceeding the forecast of a
On Tuesday, U.K. gilts were traded lower, reaching a 3-week low, after EU finance ministers agreed on eased terms for Greek emergency aid, which undermined demand for safer U.K. assets. The yield on benchmark 10-year government notes grew by 2 basis points, reaching a level of 1.86% by 9:23 a.m. in London.
On Tuesday, Germany's government notes were traded lower, approaching a 1-week low, following an announcement that EU finance ministers agreed on terms for Greek emergency aid, which undermined demand for safer assets. The yield on benchmark 10-year government bonds grew by 3 basis points, reaching a level of 1.44% by 9:11 a.m. in London.
On Tuesday, Treasuries held yesterday's gains on upcoming durable goods report, which is widely expected to show a decline in October, supporting demand for safer assets. The yield on benchmark 10-year notes declined by 1 basis points and reached a level of 1.65% by 10:13 a.m. London time.
On Tuesday, futures for copper were traded close to a 4-week high in European morning trading hours, after Greece debt deal underpinned demand for the risky asset. On the Comex, March delivery futures for the metal were traded at $3.561 per pound, which was a 0.35% daily gain. Earlier, the contract prices grew by 0.5% and hit $3.565, which was
The Federal Statistical Office revealed on Tuesday that inflation of German imports experienced a 1.5% annual growth last month. Whereas economists expected a higher increase in import prices of 1.8%. Month over month, prices of imports declined by 0.6% compared to a figure of minus 0.7% in the preceding month.
The Office for National Statistics reported on Tuesday that output of the U.K. service sector shrank in September. Month over month, the index lost 0.5% on a seasonally adjusted basis, which was in compliance with analysts' expectations. In the third quarter, the index added 1.3% compared to a 1.2% gain in the preceding quarter.
The French statistical office reported on Tuesday that confidence among consumers in France remained stable this month. The consumer confidence index stood at 84 in November, which was unchanged from a preceding month's reading. Economists, however, expected a decrease of the reading to 83.
Rural commodities, excluding coffee, were bullish on Monday amid growing worries over crop condition in South America. Last week, Oil World cut its outlook on production-growth in South America, citing lack of rains in Argentina and Brazil. Moreover, stronger demand for US exports coupled with winter crop concerns lifted grain prices.Wheat rallied on signs that US winter crop conditions deteriorated
Energy futures tumbled on Monday amid escalated economic fears ahead of the decision on the next Greek bailout installment. Market sentiment was also dampened by the win of separatist parties in local election in Catalonia. Meanwhile, broadly weaker US Dollar and on-going supply concerns limited losses of the energy futures.Crude oil moved lower after previous rally as demand worries offset
Industrial metals apart from nickel moved higher on Monday, drawing strength from recent positive flash PMI releases from the EU, US and China. Moreover, weaker US Dollar coupled with optimism over Chinese economy pushed base metals higher. At the same time, persistent worries over urgently needed Greek bailout and looming US fiscal cliff capped gains of the commodity group.Aluminum extended
Precious metals except for silver retreated on Monday as market players awaited an outcome of Eurozone's finance ministers' meeting on the next tranche of Greek aid. Investors also were cautious ahead of Ben Bernanke's speech due on Tuesday. However, the downswing was limited by weaker US Dollar and optimism over China's economy. Gold dipped amid lingering worries over Greek bailout
Gold rose as Eurozone finance chiefs agreed on Greece's debt burden, and investors increased holdings in exchange-trade products to a record. Gold spot climbed 0.2% to $1,751.80 an ounce. The precious metal touched $1,754.65 on November 23, the most expensive since October 15. Gold for December settlement was at $1,749.80 an ounce.
Oil rebounded from a one-week low as European finance chiefs agreed on aid for Greece, alleviating concern the Eurozone's debt crisis will undermine economic recovery and curtail fuel demand. Futures rose 0.4% in New York after falling 0.6% yesterday. Crude for January settlement climbed 36 cents to $88.10 a barrel, while Brent for January delivery rose 25 cents to $111.17