French equities advanced on upbeat German Ifo business climate index. Moreover, recent positive manufacturing and services PMI readings continued to support French stocks. At the same time, lingering concerns over Greece's bailout weighted down on French equities. The CAC Index climbed 0.05% and is currently trading at 3,499.80. Three in ten sectors included in the index rose. The top-performers were
German shares retreated despite positive business climate data. The Ifo Institute for Economic Research reported that its German business climate index advanced to 101.4 in October from 100.0 in September. Experts predicted the index to drop to 99.5 last month. German blue chips remained under notable pressure as market players were cautious over Greek bailout talks due to be resumed
UK stocks inched up on better-than-expected business climate data from Germany. However, gains were limited as uncertainty over Greek bailout persisted. The FTSE 100 Index added 0.1% to trade at 5,796.82. Six out of ten sectors within the index advanced. Defensive stocks led gains, with health care and consumer goods sectors rallying 0.31% and 0.33%. AstraZeneca and GlaxoSmithKline climbed 0.42%
Hong Kong equities advanced on Friday as upbeat PMI data continued to lend support for Chinese shares. Market sentiment was also boosted by China's officials' comments that the country is moving towards reforms as China enters a new stage of economic development. However, concerns that the Eurozone's finance ministers still have not agreed on the next Greek bailout tranche capped
German economy expanded 0.2% in the third quarter on seasonally adjusted basis matching analysts' forecast, yet slowing down the pace of growth as the GDP reading advanced 0.3% in the previous quarter. The main factors contributing to economic growth were exports, construction and household spending, whereas company investment and inventories deprived the nation's GDP. As the Eurozone is still struggling
Brazilian stocks climbed for the second consecutive session on Thursday after upbeat national data. Brazilian unemployment rate dropped to 5.3% last month, in line with market consensus. Moreover, hopes that borrowing costs will remain at record low after inflation slowed this month spurred rally of Brazilian equities. The Bovespa Index climbed 0.35% to close at 56,436.97. Six out of nine
Gold is set to its weekly advance, as investors increased their holdings and central banks boosted their reserves on Eurozone's debt crisis and Merkel's announcement the EU leaders will not agree on the budget deal in the summit. Spot gold was at $ 1,731.50 an ounce, advancing from yesterday's $ 1,729.55. Gold Futures for December added 0.2% to $ 1,731.30
German business confidence advanced unexpectedly in November, indicating the German economy might recover and the nation's business climate is becoming more optimistic. The business climate index surged to 101.4 in November from 100 the prior month, breaking out from its declines throughout the last six months. German growth slackened less than expected in the third quarter on Eurozone's recession. "The improvement
Australian shares retreated on Friday, with the market lacking direction as the Wall Street was closed for Thanksgiving Day holiday. Australian equities noted some support from upbeat PMI releases from the US, China and the Eurozone. At the same time, speculation that China will cut taxes for Chinese iron ore producers weighted down on Australian miners. The S&P/ASX 200 Index
Farm commodities were mixed over the last five trading days amid weak demand for US exports and rain forecasts in Brazil. Meanwhile, US markets were closed for on Thursday due to Thanksgiving Day holiday.Wheat posted a weekly decline on signs that demand for US supplies weakens. US farmers sold only 314,500 tonnes of wheat last week versus the USDA forecast
Energy futures, excluding natural gas, fell on Thursday on easing supply concerns in the Middle East. However, the commodity group noted some support from a recent slump in US inventories and brighter demand prospects. Preliminary PMI readings indicated that manufacturing activity in the US, China and the Eurozone was better than market consensus in November.Crude oil dropped despite strong demand-side
European equity futures slightly advanced as the Stoxx Europe 600 index is close to its biggest weekly advancement in nine months on speculation the U.S. and China are on their way to economic recovery, and prior to report on Germany's business confidence that probably fell this month. Euro Stoxx 50 Index added around 0.1% to 2,536, whereas FTSE 100 Index
Base metals apart from nickel climbed amid signs of recovery of the global manufacturing activity. Flash PMI data suggested that manufacturing sector in China, the US and the Eurozone performed better-than-expected in November. Demand for riskier assets was also spurred by Angela Merkel comments that EU finance ministers may agree on the Greek bailout terms on Monday.Aluminum gained, balancing between
Asia's currencies are set to gain this week, driven by optimism the regional economy will recover, and Philippine peso. The currency appreciated 0.6% to 41.073 per dollar, while the South Korean Won strengthened 0.5% to 1,086.25 and Malaysia's Ringgit surged 0.5% to 3.0591 this week. Meanwhile, the Chinese currency Yuan added 0.13% to 6.2277. The economic outlook improved as Chinese
Precious metals except for silver moved higher on Thursday amid broadly weaker US Dollar and solid global equities. Optimism over Greek bailout also helped to boost the market sentiment. Meanwhile, trade volumes were light as US market was closed for Thanksgiving Day holiday.Gold closed slightly higher on physical demand-side support. Central banks of Kazakhstan, Turkey, Russia and Brazil increased their
Asian stocks rallied, led by advance in rare-earth companies, and Taiwan shares rose as the nation's finance minister' s statement concerning government-controlled funds that should buy equities at lows. The MSCI Asia Pacific Excluding Japan Index gained 0.5% to 442.08, heading for its weekly increase in 3 weeks. South Korea's Kospi Index climbed 0.4% and Hong Kong's Hang Seng added
Australia's Dollar was set for an advance this week as global stocks rallied, boosting demand for high-yield assets. The Aussie Dollar bought $1.0396 from $1.0390 yesterday. Data this week showed manufacturing in China, Australia's largest trading partner, is improving, buoying demand for the Australian Dollar.
The Japanese Yen strengthened against all of 16 major counterparts as contraction in the Eurozone's manufacturing activity and services clouded global growth outlook. Japan's currency advanced 0.3% to 82.24 per greenback after earlier touching 82.84, the weakest level since April 4. The Yen gained 0.3% to 105.96 per Euro. Japanese markets are closed today for a holiday.
German private sector halted to slowdown in November according to Markit Economics. Yet, the services activity shrank the most in more than three years this month. The flash composite output index, tracking private sector's performance, including manufacturing and services, advanced to 47.9 in November from 47.7 the prior month. The flash purchasing managers' index increased from 46 in October to
The pound depreciated against the Euro, halting its advance throughout the last two days, as data showed U.K. manufacturing was close to its 10-month low this month. The currency slid against the greenback to $ 1.5954, down from its two-week high of $1.5978. Sterling slipped 0.4% to 80.72 pence per Euro after yesterday's surge to 80.06 pence.
The French Flash Manufacturing PMI inched higher than expected in November, indicating the nation's manufacturing sector improved. The Markit Economics data showed the index rallied from 43.7 in October to 44.7 this month. Meanwhile, the purchasing managers' activity in the services sector increased to the highest level in three months of 46.1 in November, surging from last month's 44.6."Although the
German shares rose on Thursday after flash PMI data indicated that the country's manufacturing activity contracted at slower pace this month. However, flash services PMI showed that German services sector shank more-than-expected in November. Easing concerns over Greek bailout after Angela Merkel hinted that the Eurogroup may agree on Greek bailout terms on Monday were supportive for German blue chips.
UK stocks advanced on Thursday on strong PMI data from the eurozone and China. Meanwhile, the market sentiment was also lifted by hopes for progress in talks over Greek bailout. German Chancellor Angela Merkel said that agreement on Greek bailout is still possible after finance ministers resume talks on Monday. The FTSE 100 Index gained 0.6% to trade at 5,786.64.
Japanese equities soared on Thursday after upbeat PMI data from China. Moreover, on-going speculation that opposition party that is expected to win next-month election will put pressure on the BoJ to ease its monetary policy continued to lend support for the Japanese shares. Meanwhile, the Yen reached a seven and a half month low, sending Japan's equities even higher. The