UK equities declined, heading for the largest weekly slump in two months amid lingering concerns over the US fiscal cliff. Moreover, rising worries over whether Greece will get a new tranche of the bailout added to losses of the UK equities. German Finance Minister Wolfgang Schaeuble said that it may be too early to grant more aid to Greece. However,
Hong Kong stocks dipped on Friday amid mounting concerns that the government will not implement additional reforms to stimulate slowing economy. The market sentiment was also dampened by on-going worries over the US fiscal cliff. However, upbeat China's economic reports limited losses of the equities. China's industrial production and retail sales growth jumped more than expected in September. The Hang
On Friday, the 17-nation currency hit a 1-month low versus the Japanese Yen, U.S. Dollar amid losses in Eurozone growth prospects and uncertainty over Spain's and Greece's bailouts. The Euro declined by 0.2%, reaching a level of 100.99 Yen. Elsewhere, it fell by 0.1% versus the greenback to trade at $1.2733, which was close to a 2-month low of $1.2717.
Consumer confidence advanced more than expected this month touching the highest level in five years on improving labor market in the U.S. The consumer sentiment index rallied to 84.9 in November, compared with the prior month's reading of 82.6. The index showed the fourth biggest improvement since July 2007, as it was forecast to stay at 82.9 for this month. The sentiment of Americans is
On Friday, British 10-year government notes were growing on speculation that the U.K. central bank will extend its loose monetary policy to stimulate the economy, amid a drop in equity markets. The yield on benchmark 10-year gilts lost 6 basis points and reached a level of 1.71% by 11:05 a.m. in London. 10-year bonds were likely end the week with
On Friday, German government notes were higher, pushing yield to a 2-month low on disappointing data from France, which showed a fall in business confidence and industrial production. The yield on benchmark 10-year bonds slipped 4 basis points to 1.33% by 10:46 a.m. in London. German 2-year bonds witnessed a yield of minus 0.038%, after hitting a level of minus
On Friday, treasuries were advancing on speculation that U.S. lawmakers will not be able to agree on how to avoid fiscal cliff, which can possibly lead to a recession in the country. The yield on benchmark 10-year yields decreased 3 basis points, reaching a level of 1.59% by 6:19 a.m. New York time. During this week, the yield experienced a
The Italy's statistical office reported on Friday that the country's industrial output extended a 13 month long streak of losses. Year over year, Italian industrial production fell by 4.8% in September compared to a 5.2% decline in the preceding month. Analysts, however, expected a more moderate decrease with a reading of minus 4.7%.
The Office for National Statistics revealed on Friday that British construction output fell by 2.6% in the quarter ended September 2012. U.K. construction sector has been experiencing a steady decrease since the third quarter in 2011. A fall in construction was driven mainly by deteriorating private commercial sector, whereas it was offset somewhat by a growth in infrastructure work.
The Cabinet Office reported on Friday that confidence of Japanese consumers shrank for the second month in a row in October. Japan consumer sentiment index decreased to 39.7 on a seasonally adjusted basis from a figure of 40.1 in the preceding month. Analysts, however, expected an even lower reading of 39.5 last month.
The National Bureau of Statistics reported on Friday that Chinese retail sales increased more than expected last month. Year over year, retail sales gained 14.5% in October compared to a figure of 14.2% in the preceding month. Economists, however, expected a reading of 14.4%. Year to date, Chinese sales were by 14.1% higher than during the same period in the
The Stoxx 600 Index is 0.2% lower to 269.98 points in early London trading session on Friday. European equities set the biggest weekly decline since September. Investors are concerned on the Bank of France, Credit Agricole, announcement of a wider loss than analysts' predictions and statement that France economy might contract in the last quarter of this year.
Soybeans futures price was 0.7% lower to $14.9575 a bushel during U.S. trading hours on Thursday. The price reached a three-week low, as the U.S. Department of Agriculture announced, that in the last week of October, soybeans sales dropped by 75% comparing with a previous week due to the demand decrease in overseas markets.
Oil future price for December settlement was only 6 cents higher to $85.15 a barrel during Asia trading hours on Friday. Price was consolidating after 0.6% gain yesterday, when rebounded from the lowest point in four months. Oil price experiences positive changes, as China announced industrial output increase for the second month in October, increasing 9.6% from a year earlier. That signals an expanding China's economy,
Gold spot price advanced by 0.4% to $1,738.19 an ounce in Asia trading session on Friday. The price reached the peak since 19th of October and set the best weekly performance since January. Investors were concerned about the European debt crisis and the prospects of the U.S. QE program, what boosted the price of safe haven assets, especially of gold.
The Yuan was higher by 0.08% to 6.2382 per Dollar in early Asia trading session on Friday. That was a 14th consecutive gain leading to the longest winning period since March 2008. Today markets were positive on China's currency, as inflation data was released and the actual figure was only 1.7%, what is the slowest pace in three years. Therefore, markets speculate on a
Futures on European stocks were slightly changed, as Stoxx Europe 600 Index touched its lowest level in November on reported earnings by European companies, including French industrial company Lafarge SA and luxury-goods company Cie. Financiere Richemont SA. Contracts on the Euro Stoxx 50 Index futures advanced less than 0.1% to 2,482, whereas FTSE 100 Index futures slid about 0.1%.
Japanese shares fell on Friday amid US fiscal worries and mixed China's numbers. China's CPI unexpectedly dropped, while industrial production rose more-than-expected last month. On-going worries over indebted eurozone also weighted down on the Japan's stocks. The Nikkei 225 Index slid 0.90% to end the week at 8,757.60. All sectors within the index tumbled. On the upside, Nippon Telegraph and
US blue chips plunged further on Thursday amid on-going concerns over the US budget clashes. A leadership change in China coupled with recent growth forecast cuts in the eurozone also weighed on the market sentiment. However, Dow pared losses after encouraging data from the national economy. The Dow Jones Industrial Average Index lost 0.94% to close at 12,811.32. All but
US shares prolonged their slump on Thursday as fears over the US fiscal cliff continued to create a heavy pressure on riskier assets. Moreover, Chinese Communist Party Congress as well as concerns over the eurozone's economic instability added to losses of the equities. However, the downswing was limited by positive domestic data. US jobless claims dropped more than expected last
China's industrial output and retail sales rose more than anticipated and inflation unexpectedly decelerated to the slowest pace in 33 months. Industrial production increased 9.6% in October from the last year, according to the National Bureau of Statistics. Retail sales augmented from 14.2% in September to 14.5% and the consumer price index rose 1.7%.
Exports from the U.S. rose to a record level in September, and the trade deficit unexpectedly declined, propping up the world's largest economy at the end of the Q3. The gap narrowed 5.1% to $41.5 billion, the smallest since the end of 2010 and lower than economists' estimate. The increase in sales to overseas buyers appeared to be broad-based, with improvement from soybeans to civilian
The South Pacific currencies strengthened after data showed better-than-expected retail sales and industrial output in china, improving the export outlook for the countries. The Australian Dollar gained 0.2% to $1.0423, set for a 0.8% weekly advance. The New Zealand Dollar climbed 0.3% to 81.69 U.S. cents, after 1% decline since November 2, the biggest drop among the U.S. Dollar's major
The Pound rose for a second straight day versus the Euro as the Bank of England halted its bond-buying programme expansion and left its key interest rate at a historic low of 0.5%. The Pound strengthened 0.2% to 79.74 pence per Euro, after touching 79.61 pence, the strongest since October 1. Sterling traded at $1.5976 after falling to $1.5930, the