The number of applications for jobless benefits increased to 362 000 in previous week. Jobless claims submitted rose by 8000 last week. Economists questioned by Bloomberg predicted unemployment claims to drop to 352 000. Nevertheless the current level of jobless applications is relatively low, pointed out Jennifer Lee, senior economist at BMO Capital Markets.
The Bloomberg Consumer Comfort index advanced from minus 38.8 in previous period to minus 36.7 last week as Americans became more optimistic about country's economic outlook and increased their spending. The latest confidence reading is the best figure in four years. US consumers are feeling more certain about their personal income, suggested Joe Brusuelas, Bloomberg LP's senior economist.
German DAX index rallied on Thursday as worries over Greek default disappeared. Heavyweight financials supported the index on upside with Deutsche Bank AG climbing 3.4% and Commerzbank AG adding 1.3%. BMW AG improved 1.3% after the auto maker posted a 51% increase in full-year profit and raised dividends. Deutsche Post AG led the gains after issuing an optimistic revenue predictions
FTSE 100 index extended gains on Thursday on news Greece will finally conclude its debt swap agreement. Oil shares and miners provided the biggest upside contribution to the index. Petrofac Ltd rallied 3.7% after J.P. Morgan Cazenove raised stock's rating from neutral to overweight, citing regained confidence in 2013 earnings growth. Other crude providers also advanced on surging oil prices.
Rural commodities fell on Wednesday ahead of USDA report on crop estimates due on Friday. Wheat posted loses as UN lifted its forecast on the global wheat crops to the second highest over the last decades. The estimations of the world's wheat harvest vary from 678 million tons to 682 million tons. Corn futures declined as China's rejected rumours that
Energy markets were mostly higher on Wednesday amid broadly weaker US Dollar and smaller than expected increase in the US oil inventories. However, investors continued to eye events surrounding the Greek debt restructuring that will determine the future of the region. Brent and crude oils also tried to balance supply and demand concerns. Escalated tensions between Iran and Israel are
Base metals except for aluminium moved higher on Wednesday amid depreciating US Dollar and stronger equities. However, fall in the German manufacturing orders capped the upswing. Moreover, investors are focused on the Greek debt swap talks as it will determine whether the country will stay in the common currency union. Aluminium fell by 1.19% but the long-term forecast stayed bullish
Precious metals posted moderate gains on Wednesday on weaker US Dollar and hopes that Greece will manage to agree with private bondholders on the debt swap deal. Moreover, bargain buying also created additional support for the precious metals. However, the fear that Greece may fail to repay its debt timely continued to weight on the commodity pack. Eased inflationary pressure
Japan's Nikkei Stock Average ended a three-day drop and advanced sharply on Thursday lifted by depreciating Yen and economic news from US. Nikkei 225 index soared 1.97% or 188.67 points and closed at 9,764.73. Financials supported the index most with Nomura Holdings Inc surging 4.7% and Mitsubishi UFJ Financial Group advancing 2.7% on news US Fed is planning a new
Hong Kong's Hang Seng index rebounded on stronger US economic data and growing optimism about the successful close of Greek deal. Hang Seng index rallied 1.32% or 272.95 points and closed at 20,900.73 with all nine sectors making gains. Ping An Insurance Group jumped 5.1%, Agricultural Bank of China surged 2.5% and China Life Insurance gained 1.4%. Export-dependent Esprit Holding
Asian equities recovered after steep losses on Thursday as data showed hiring accelerated in US and investors became more optimistic over Greek debt swap. Japan's Nikkei Stock Average advanced 2%, Hong Kong's Hang Seng Index climbed 1.3% and China's Shanghai Composite Index added 1.1%. South Korea's Kospi index surged 0.9% and Australia's S&P/ASX 200 index improved 0.7%.
US markets recovered on Wednesday trade after data showed the number of payrolls climbed and investors anticipated news about possible new type of Fed's quantitative easing. S&P 500 index gained 0.69% or 9.27 points and finished at 1,352.63 with financial shares posting biggest gains, Dow Jones Industrial Average index added 0.61% or 78.18 points and settled at 12,837.33 while Nasdaq Composite
Dow Jones Industrial Average index breached its downward path and climbed higher on jobs data amid fading concerns about Greece default. Blue chip index added 0.61% or 78.18 points and settled at 12,837.33 with industrial sector gaining 1.5%. Kraft Foods dropped 1.2% after Jefferies Group downgraded the firm from buy to hold claiming the stock has little probability to outperform
S&P 500 index partly recovered from previous losses on Wednesday as data showed hiring advanced in US. The index gained 0.69% or 9.27 points and finished at 1,352.63 with financial shares posting biggest gains. Citigroup Inc rallied 3.5% and Morgan Stanley advanced 3.2%. Valero Energy jumped after its CEO Bill Klesse said company looks forward to export gasoline and diesel.
Swiss CPI rose more than initially projected in February, reported the Swiss Federal Statistics Office. The CPI accelerated by 0.3% last month, after falling by 0.2% in the preceding month. Experts predicted the CPI to gain 0.2%. Considering yearly moves, the CPI declined by 0.9% in February after tumbling by 0.8% in January. After the news, the Swiss Franc appreciated
China's zinc import grew by 47% approaching 47,933 MT on annual basis in January. Reduction in due charges for smelters and increasing value of Renminbi created fresh stimulus for imports increase. Barclays expects further tightening of zinc market due to closures of mines, fall in ore head grades and decrease in China's zinc output. The bank expects zinc price to
Toyota recalled 681,500 cars in the US due to safety concerns. The company recalled 116,000 Venza and 70,500 Camry cars as some parts may lead to starting difficulties. 495,000 Tacoma cars were also recalled because of problems with air bags. At the moment, the company is waiting for repair parts and will inform the owners when the vehicles are ready
Eurostar faced an essential increase in sales in February as the number of passengers surged by 2% attaining 9.7 million. Considering yearly changes, the sales soared by 6% approaching 803 million British Pounds in 2011. Currently passengers from emerging economies like China and Brazil account for about 9% of the total number of visitors. However, the number of business visitors
The Reserve Bank of New Zealand held its key interest rate steady for the eight month in line. The interest rate was kept at 2.50% this month as sustained appreciation of the New Zealand currency eliminated the need for increasing core interest rate. After the announcement, the New Zealand Dollar posted gains against the greenback and NZD/USD traded at 0.8213,
China's car sales fell by 1.4% in the period between January and March 2012 amid soaring fuel prices. However, on an annualized rate automobile sales jumped by 22.3% during January and February. Fuel prices attained a new record continuing to create a pressure on the car customers.
Crude oil futures were lower during the Asian trade on Thursday after jumping on the positive US labour market data. The looming deadline of the Greek debt swap also continued to impact the market. Light, sweet crude oil futures for April delivery traded at 105.97 US Dollars per barrel on the New York Mercantile Exchange, losing 0.18%.
The manufacturing volume in New Zealand increased by 1.3%, approaching 260 million US Dollars in December, according to Statistics New Zealand. The manufacturing activity got a spree due to sharply rising output of daily products for export. The output of dairy products and meat expanded by 6.3% in December.
China's home prices are expected to fall this year but the bubble of the sector is not expected, said Li Daokui adviser to China's central bank. In January property prices dropped in 48 out of 70 main cities, reported the NBS. However, the government continued its prudent policies aimed at stabilizing housing prices. Tightening of the housing market is a
Gold futures advanced during the Asian session on Thursday as market sentiment improved on the positive US labour market data and on the belief that Greece will manage to agree with private creditors on debt restructuring. COMEX gold April contract traded at 1,685.85 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.12%.