The U.K. Office for National Statistics revealed on Wednesday that the number of Britons claiming for unemployment benefits increased unexpectedly last month. U.K. jobless claims grew by 10,100 in October, while analysts expected a decrease of 5,100 people. Unemployment rate declined to a reading of 7.8% from a level of 7.9% in the preceding month, whereas economists expected no change.
On Wednesday, Italy witnessed a decrease in borrowing costs, hitting the lowest since October 2010, as it was selling its government debt. Italian Treasury managed to sell 3-year bonds worth 3.5 billion Euros at the average yield of 2.64%, which was a decrease compared to a 2.86% yield witnessed at a similar auction last month.
On Wednesday, futures for copper were traded higher during European morning trading session, but gains seemed to be capped by Greek debt and U.S. fiscal cliff concern. On the Comex, December delivery futures inched up 0.35% during the trading session, reaching a level of $3.483 per pound. Earlier, prices hit a session low of $3.463 and a session high of
U.S. shares advanced, triggering an increase in the S&P's 500 index higher, after Cisco Systems Inc. reported higher-than-expected earnings. The world's largest computer-networking equipment producer boosted up the technology shares by rallying 7.9%. The S&P 500 surged 0.2% to 1,377.32. The index has lost 3.8% since the president Barack Obama was reelected.
Chinese shares gained on ruling party's meeting to choose the new leaders and hopes for reduced political uncertainty after that. The Shanghai Composite Index advanced 0.3% to 2,053.14, while the CSI 300 Index rose 0.4% to 2,221.62, mostly driven by rising shares of Kangmei Pharmaceutical Co. Another top-performer was Aluminum Corp. of China Ltd, as it rallied 5.1% to 4.97 yuan, reaching the highest level since
Japanese shares moved higher on Wednesday as banks and telecommunication companies rebounded after previous losses. However, concerns over the US fiscal cliff and uncertainty over Greek bailout capped gains of Japanese stocks. Moreover, lack of easing in China added pressure on Japan's blue chips. The Nikkei 225 Index gained 0.04% to close at 8,664.73. Only four in ten sectors within
German equities fell on Wednesday on persistent pressure from looming US fiscal cliff. Weak eurozone's industrial production numbers also sent German blue chips lower. The DAX Index declined 0.57% and is currently trading at 7,127.96. Only three in nine sectors climbed. Technology and consumer services sectors were the best performers. Deutsche Lufthansa added 0.24% after resolving labour dispute with its
Mervyn King said the U.K.'s economy might contract even more in the fourth quarter, as recovery is slowing down. That caused the officials to think on expanding asset purchases to accelerate the pace of growth, even though the bond purchase program was contained, as officials did not see it reflecting in the nation's economy. The Bank of England estimates quarterly GDP to grow around 2%
UK shares tumbled on Wednesday on concerns about the US federal budget debate and negative national data. The number of people applying for unemployment benefits jumped unexpectedly in October. Meanwhile, investors are also cautious ahead of the China's leadership change as the 18th CPC Central Committee will elect the General Secretary early on Thursday. The FTSE 100 Index dropped 0.54%
Hong Kong equities erased previous losses on Wednesday, supported by strong gains in metal producers. China's government stated that the country will resume stockpiling metals in order to boost physical metals' prices. At the same time, looming US fiscal battles and a delay in Greek bailout decision created heavy pressure on Hong Kong blue chips. The Hang Seng Index soared
Soybeans remain gain in Chicago on growing demand for U.S. exports after two-week price decline and amid drought in Brazil and excessive humidity in Argentine. U.S. exports raised 6.8% to 64.1 million bushels last week in comparison to previous period. The contract for January delivery soybeans increased 0.8% and was settled at $14.19 a bushel. On Tuesday prices for soybeans
Gold is expected to rally to above $2000 an ounce in 2013, as central banks add stimulus to prop up the recovery, according to Deutsche Bank AG. Bullion is set for a 12th annual advance amid concern that stimulus by central banks and governments around the world to shore up the recovery and combat fallout from eurozone's debt crisis will
Oil futures for December settlement were 16 cents up to $85.54 a barrel in Asia trading session on Wednesday. Oil price almost reached the lowest point in one week, due to market expectations that U.S. stockpiles will be increased by 377.3 million barrel in last week. That would be the highest stock level since July.
The Central Bank of Chile kept the key interest rate unchanged at 5% level for a 10th consecutive month. According to the central bank announcement, domestic market holds a stable growth pace, actual monthly economic growth exceeded a forecast six times in 2012, and stays resilient to the global slowdown. Great Chile's economic performance is the third in South America, after Brazil and Colombia.
Australian consumer sentiment reached its highest level since April 2011, as central bank's monetary measures since last year's November are starting to boost up the household confidence. The Consumer Sentiment index rallied 5.2% to 104.3 for November on a monthly basis, showing the number of optimists is exceeding the number of pessimists. "We are finally starting to see that the
Sweden's jobless rate rose in October from the last year and beat economists' expectations, data from the Public Employment Service showed Wednesday. The unemployment rate climbed to 4.6% from 4.5% in October a year earlier, while economists projected the jobless rate to be at 4.7%. The number of unemployed people rose to 215,832 in October from 203,722 last year.
According to data from Statistics Finland, Finland's retail sales rose annualized 3.4% in September. Nevertheless, sales volume fell 0.6% over the same period. Consumer goods sales increased 3.6%, while department store trade rose 3.9%. Wholesale trade sales declined 1.6% and motor vehicle trade sales decreased 21.7%.
Finland's annualized inflation cooled from 2.7% in September to 2.6% in October, according to Statistics Finland. The figure was in line with economists' expectations. Consumer prices rose most from the previous year due to increasing transport, food, alcoholic beverages and tobacco prices. Consumer prices grew 0.1% from the last month compared to a 0.2% increase expected by economists.
US blue chips index dropped on Tuesday amid persistent worries over the US fiscal cliff and Greek bailout uncertainty. Adding to the negative mood of the US equities, the US federal balance dropped more-than-expected last month. Meanwhile, traders were cautious ahead of the FOMC statement due on Wednesday. The Dow Jones Industrial Average Index plunged 0.46% to close at 12,756.18.
Wall Street closed lower on Tuesday amid mounting worries over fiscal cliff in the US. Moreover, Greek financial woes weighted down on the risk appetite. The IMF disagreed on Greek budget terms, while the eurozone's finance ministers postponed a bailout decision to November 20. The S&P 500 Index shed 0.4% to end the session at 1,374.53. Only three sectors rose.
The Australian Dollar reached the highest level in two months versus the kiwi as retail sales in New Zealand dropped unexpectedly. The Aussie traded up to NZ$1.2799, after trading at NZ$ 1.2788 earlier. The currency also touched the strongest weekly level against the greenback on improving consumer confidence in Australia. It advanced to $ 1.0455, trading 1% higher than before at $ 1.0448. Meanwhile, the currency
The Yen declines against its 16 counterparts as BOJ is expected to take action to curb the yen's strengthening, as it jeopardizes Japanese exports. The Yen fell against the euro, after five days of gains on news the government will lower its economic assessment this month. The Japanese currency dropped 0.4% to 101.23 euro. Meanwhile, the Yen lost 0.3% versus the greenback to 75.59.
Farm commodities except for corn dropped on Tuesday as demand for US exports remained weak. Moreover, uncertainty over Greece as well as upcoming US budget clashes weighted on demand perspectives. At the same time, expected rains in Brazil and poor condition of the US grains lent some support for the commodity group.Wheat sagged 0.77% despite worries over the US winter
Energy futures, excluding natural gas, declined on Tuesday amid stronger US Dollar and global demand concerns. Market players remained worried about the US fiscal cliff and uncertainty over whether Greece will receive the next tranche of the bailout timely.Crude oil moved lower, hovering near four-month low on fears that global energy demand may weaken in wake of spreading crisis in