Preliminary estimation showed that RBA Index increased by 0.2% in SDR terms, following decline by 1.3% in the preceding month. The top contributors to the index appreciation were prices of oil and gold. Industry metals and agricultural commodities also stimulated rise of the index. However, the ongoing fall in the coal price limited the gains.
Crude oil futures advanced in electronic trade early on Wednesday ahead of the US weekly inventory report. Crude oil futures for delivery in March traded at USD 98.70 per barrel during Asian session, on the New Mercantile Exchange, gaining 0.2%. However, during the US late trade on Tuesday, oil lost 0.3% on the stronger US Dollar and negative economic data
UK home prices declined in January amid UK economy's contraction in Q4 of 2011. The typical house price lost 0.2% in January and weighted down on the annual house price inflation, pushing it to 0.6% as compared to 1% in the preceding months. Analysts expect the balance between supply and demand to move further to the outweighing supply thus creating
Canadian economy unexpectedly contracted in November, pushed down by crude manufacturers' shutdowns and the decrease in natural gas production. Canada's GDP fell 0.1% to USD 1.27 trillion in November for the first time in 6 months, said Statistics Canada. Economists questioned by Bloomberg predicted an increase of 0.2%.
Australian manufacturing activity remained in the positive area last month, reported Australian Industry Group. The PMI for January added 1.4 points, approaching 51.6 in January. The largest contributors to the gains were delivery inputs and finished goods inventories. However, experts cited global economic uncertainty as the major factor curbing the growth.
The global demand for China's exports declined in January amid world's economic fears that dampened consumers' confidence. New export order index decreased from 48.6 to 46.9 in December while import index also faced losses, falling from 49.3 to 46.9 in December. Experts predict China's exports to fall further unless key importers like Europe and the US manage to resolve economic
The prospects of new QE undertaken by the Bank of England aimed at boosting growth increased. The move has become more likely after Threadneedle Street reported contraction in money supply and poor borrowing by both households and businesses. The City experts predict the Bank of England may announce new round of QE at the monetary policy meeting due next week.
Amazon announced an essential decline in net income and warned of probable loss this year. Net income for Q4 of 2011 achieved USD 177 million as compared to USD 416 million in the preceding year. The decline appeared despite sharp growth in revenues that increased by 35% to USD 17.43 billion last year. Following the announcement, the company's shares lost
US manufacturing activity grew less than expected last month, reported the Institute for Supply Management. Its barometer index fell from 62.2 to 60.2 in January. Experts questioned by Bloomberg predicted the Chicago PMI to advance to 63 in January. Despite decrease in the PMI, reading above 50 indicates expansion.
Euro Zone's unemployment approached a new record in December, reported the Eurostat. The unemployment rate in the region jumped to 10.4% in December, after hitting 10.3% in November. About 16.5 million individuals were unemployed while the highest jobless rate of 22.9% was in Spain and the lowest rate of 4.1% was in Austria.
Chinese production gauge grew in January despite weaker demand from Europe. According to official statistics, purchasing managers' index rose from 50.3 in December to 50.5 in January. Analysts previously predicted the index to reach 49.8. HSBC Holdings Plc's separately estimated index climbed to 48.8.
17-nation currency depreciated against the US Dollar for the second consecutive session as Greece kept struggling to end debt talks. Euro lost ground also versus Yen ahead of Portuguese bond auction today on worries the country will need more financial aid. Euro slipped 0.1% against greenback to USD 1.3071 in Asian trade and lost 0.2% against Japanese Yen, touching JPY 99.59. Currently
Energy prices, excluding heating oil, decreased on Monday on the depreciating Euro against the US Dollar amid Greek debt restructuring talks. At the same time, colder weather in The US managed to back up heating oil price but failed to limit losses of the natural gas futures. Crude and Brent oil may seek support on the geopolitical risks as Iran
Agricultural commodities edged lower on Monday amid more favorable weather forecasts in South America. Corn was the top loser, falling by 1.56 over the day as expected rains in South America may lower the risk of essential decrease in global crops. At the same time, agricultural traders continued to eye developments over the Greek debt restructuring. However, Rabobank advices investors
Base metals, except for aluminium, fell on Monday as Greek debt talks and weak Euro dampened investors' sentiment in the industry metals. Aluminium, the only gainer, found support on the falling LME inventories and deficit on the market. At the same time, zinc tumbled by 1.16% as cancelled warrants have been constantly declining, hitting the lowest level among all LME
Precious metals tumbled on Monday amid firmer US Dollar and very slow progress over the Greece's debt swap. Weaker equities also created downward pressure on the precious metals' price. Despite slight loss, the yellow metal is likely to jump amid expected monetary easing in the US. Silver holdings at the largest silver backed exchange-traded funds decline while investors claim the
German DAX 30 index recovered after previous choppy session and jumped 0.9% on Tuesday, supported by financials and carmakers. The index got the upward momentum, after German national statistics office reported 20-year record low unemployment level for January. Commerzbank surged 3% and Deutsche Bank added 0.6%. Meanwhile, BMW AG gained 2.81% and MAN SE advanced 2.84%. On the downside Deutsche
US housing prices declined more than predicted in November, signalling slower recovery in nation's property market. S&P/Case-Shiller index fell 3.7% in November compared to previous year. Economists questioned by Bloomberg previously predicted a drop around 3.3%. Analysts suggest that relatively high number of foreclosures may keep further pressure on property prices.
Overseas shoppers from China and Brazil may fuel retail sales in US if government would ease the issuance of tourist visas for these countries. According to Obama plan, Chinese and Brazilian shoppers would boost tourism in US, create about 1.3 million new jobs and inject nearly USD 850B in country's economy by 2020. President has signed order requiring Department of Homeland Security
UK FTSE 100 index dropped 1% on Monday but sharply appreciated on Tuesday amid finalized EU fiscal discipline treaty and on hopes Greece is moving closer debt swap agreement. FTSE 100 climbed 0.7% lifted by energy shares amid surging oil futures. BP PLC added 2.6% and Petrofac Ltd. gained 2.2%. ARM Holdings PLC jumped 4.4% after posting an 11% increase
Japan's Nikkei Stock Average rebounded on Tuesday as Japanese industrial production output surged 4% in December, compared to predicted 2.8%. Gains, however, were limited as unemployment slightly increased to 4.6% in December amid appreciating Yen. Nikkei 225 index climbed 0.11% or 9.46 points and finished at 8,802.51, led by industrial sector. Fuji Heavy Industries Ltd. advanced 1.6%, while Hitachi Construction
Hong Kong's Hang Seng index recovered on Tuesday as EU countries approved fiscal discipline treaty and Japanese data showed higher than expected manufacturing output. Hang Seng index added 1.14% or 230.08 points and closed at 20,390.49, lifted by financials and coal miners. China Shenhua Energy Co. and Yanzhou Coal Mining Co. each added 1.5%, while Agricultural Bank of China Ltd.
Dow Jones Industrial Average Index extended losses on Monday as investors anticipated news that US consumer spending was unchanged in December amid surging Portuguese borrowing costs. However, the index recovered by the end of session and traded close to flat, edging down 0.05% or 6.74 points at 12,653.72. On the upside blue chip index was supported by Microsoft Corp. and
US S&P 500 Index maintained downward path on Monday, weighted down by investor concerns over indebted Portugal and Greece. S&P 500 closed 0.25% or 3.32 points down at 1,313.01. The index experienced a steep fall during the session but managed to erase most of losses as technology and telecommunication shares rose. Gannet Co and Staples Inc., were the main losers,