Grain futures in the US declined essentially amid wheat and soybean prices falling to the number of months low following the US Department of Agriculture report on the record high production level of the grain commodities and lower US soybean exports forecast. On the Chicago Mercantile Exchange corn futures for delivery in March were traded at USD5.9338 per bushel on Friday, losing 1.47% over the
TNT Express NV announced it is going to sell its Indian road operations to India Equity Partners in order to concentrate on the international business. The sale is scheduled on 30 December and it follows TNT judicious revision of the India's road business' prospects in the TNT Express portfolio.
Gold prices decreased amid stronger US dollar that weighted down on dollar priced commodities. The USD index advanced to 78.76 from 78.622 at the North American trade on Friday. Gold futures for delivery in February decreased by $17.20 to $1,699.60 at the Asian trade, losing 1% since opening.
The government of Australia awarded several contracts of defense companies such as Rheinmetall AG, German defense firm. The country allocated 7.5 billion Australian dollars for the project aimed at increasing military vehicles by 7,500 to improve support of the armed forces. Australia also started discussion with Haulmark Trailers to provide 2,500 trailers for vehicles.
The pound declined against the US dollar on the Asian trading following the strengthening of the USD and pessimism over the euro-zone after the EU summit. GBP/USD lost 0.21% to 1.5638. However, the pound was higher in comparison with the euro with EUR/GBP falling by 0.07% to 0.8535.
Crude oil prices slightly declined from $100 a barrel in today's electronic trade, following the decline in US shares index and greenback's strengthening. Dow Jones Industrial Average declined by 26 points to 12,117 at the Asian trading. Crude oil futures for delivery in January lost 21 cents to $99.20 a barrel on Globex during the Asian trading hours.
Home loans in Australia increased more than expected in November, according to official data. The number of Australian home loans increased to 0.7% on a seasonally adjusted basis from 2.2% in October, reported Australian Bureau of Statistics. Experts projected the number of home loans to increase by 0.2% in November.
On Monday Hong Kong's Hang Seng Index gained 1.14% or 212.71 points and closed at 18,798.94. Hong Kong's benchmark was mainly fuelled by progress made during EU summit, bolstering investor hopes that crisis will be resolved. On the upside were Chinese banks listed in Hong Kong. Industrial & Commercial Bank of China Ltd. rallied 2.8%, Bank of China Ltd. ascended 2.5%, while HSBC Holdings PLC edged
Asian markets mostly climbed on Monday as European officials' achieved progress and eased investor worries about debt crisis. Hong Kong's Hang Seng Index advanced 1.1%, Japan's Nikkei Stock Average jumped 1.5% while South Korea's Kospi and Australia's S&P/ASX 200 index both gained 1.1%. China's Shanghai Composite was the only benchmark index that declined by 0.5%.
The US trade deficit contracted in October for the fourth consecutive month, creating the smallest trade gap in current year, reported the Commerce Department. The country's trade deficit declined 1.6% in October reaching $43.5 bn. Analysts surveyed by Marketwatch previously predicted a deficit to be at $43.6 bn. In October both exports and imports fell, with imports declining at a faster pace. Imports dropped 1.0% to
US consumer sentiment reached a record level of the last six months approaching to 67.7 as compared to 64.1 in the preceding month. The increase exceeded expectations as analysts projected the indicator to climb to 66.1; however, the confidence level is still below 74.5 in the last December reading. The increase is inspiring but experts claim it will not lead to sustainable growth
US shares opened up on Friday morning on news that European officials reached consensus on tighter fiscal ties and other instruments to tackle debt turmoil. Dow Jones Industrial Average added 0.92% or 110.69 points to 12,108.39, Nasdaq Composite ascended 0.8 or 20.83 points to 2,617.21 and S&P 500 Index gained 13.43 points reaching 1,248.04.
UK benchmark index FTSE 100 traded higher on Friday after European officials managed to persuade 26 of 27 EU members to implement tighter fiscal regulations. FTSE 100 added 1% to 5,437.57 in London afternoon trade. On the upside were British banks, as Barclays PLC gained 4.5%, Royal Bank of Scotland Group PLC jumped 4.3%, whereas Lloyds Banking Group PLC surged 4.72%.
After extending losses since December 5, German benchmark DAX climbed on Friday 1.6% reaching 5,966.36 as investors anticipated progress on the tackling sovereign debt crisis. German index were mainly supported by financial companies. Deutsche Bank AG jumped 4%, Commerzbank AG surged 1.6% while insurer Allianz SE gained 2.3%. Semiconductor producer Infineon Technologies AG contributed negatively to index, giving up 1% after Texas Instruments Inc reduced company's
The member of the ECB, Ewald Nowothy, reassured today that there will not be deflation in the Eurozone. The inflation rate in the euro-zone is decreasing slower than expected and despite weak economic growth there are no signs of �deflation scenario', he added. The HICP inflation is likely fall to 2% in 2012 and to 1.5% in 2013, according to the ECB forecast.
UK's exports reached a record of ВЈ26.5bn while the import declined to ВЈ34.1bn in October from ВЈ34.6bn in September. As result, country's trade deficit narrowed significantly to a record level of ВЈ7.6bn in October as compared to ВЈ10.2bn in the preceding month, reported the Office for National Statistics. However, analysts claim the improvement is not sustainable.
The majority of the EU members agreed to tax and budget pact to handle the region debt crisis. France's and Germany's attempt to involve all member states in the pact was failed due to UK and several other EU members' opposition. Finally, 23 states including all Eurozone members agreed to introduce sanctions for exceeding the deficit limit.
Crude oil futures achieved one week low following the appreciation of USD and ECB President Mario Draghi's refusal to raise purchases of bonds. On the New York Mercantile Exchange, crude oil futures for delivery in January were traded at USD98.34 a barrel at the late U.S. trade, losing 2.15% since opening.
PPI input in the UK increased unexpectedly in November, according to official data. The UK PPI input jumped by 1% in November on a seasonally adjusted basis from -0.8% in October, reported the National Statistics. Analysts expected the indicator to decline by 0.1% in November.
Credit ratings of three leading banks in France were downgraded by Moody's due to their borrowing difficulties. The credit rating agency decreased ratings of Credit Agricole and BNP Paribas to Aa3 down from Aa2. Societe Generale was downgraded from Aa3 to A1. Liquidity and funding deteriorated essentially for French banks, the agency explained.
European shares, shared currency and US market index futures rebounded after region's officials agreed on bolstering the rescue fund and restrict budget rules to tackle area's debt crisis. Overnight talks added $267 bn firepower and stricter anti-deficit regulations. Stoxx Europe 600 Index gained 1.2% erasing morning loss, futures on Standard & Poor's 500 jumped 1% while euro added 0.5% reaching $1.3405. In contrast, Italian bonds
On Thursday trade Dow Jones Industrial Average erased gains accumulated since December 2 and tumbled 1.63% or 198.67 points at 11,997.70. Drop was mainly caused by European officials' inability to agree on joint position, based on which investor confidence declined. 29 of 30 companies within blue chip index experienced loss led by Bank of America and JP Morgan Chase giving up 5.09% and 5.24% respectively. The
Gold futures decreased despite bullish market sentiment on growing concerns over the euro-zone, after European summit failed to reached an agreement on measures for combatting the debt crisis. On the Comex division of the New York Mercantile Exchange gold futures for delivery in February were traded at USD1709.05 a troy ounce, edging down by 0.23% since opening.
China's Politburo agreed to maintain the current monetary policy but announced it would fine-tune the policy in response to economic environment's changes if needed. The policies will stay unchanged but in case of necessity the government t is ready to make them more flexible, focused and proactive, according to the report of the Politburo. The report followed the news about falling inflation rate in the