Most Asian stocks rose before the Fed Chairman Ben Bernanke's speech at Jackson Hole on monetary policy and data on U.S. economic growth. The MSCI Asia Pacific Index gained 0.2% to 119.42, following a 0.1 decline earlier. Japan's Nikkei 225 Stock Average climbed 0.2% and Australia's S&P/ASX 200 Index declined 0.2%.
The Canadian Dollar appreciated for the third consecutive day against the U.S. Dollar as crude oil, the country's largest export, gains. The Loonie rose 0.3% to 98.82 cents per U.S counterpart. It reached 98.43 cents, the highest since May 3. Canada's Dollar buys $ 1.0119. Government bonds increased for a second day, with the nation's benchmark 10-year security yield falling
Before Italy sells debt, the Euro trades at the highest level in 8 weeks on speculation the ECB is discussing a bond-purchase programme, which may cap European countries' borrowing costs. The common currency appreciated versus most of its major peers after yields of Spanish bills declined yesterday. The Euro traded at $1.2556 from $1.2565.
Retail sales in China are declining, weighing on Premier Wen Jiabao's intention to rely on consumer spending for recovery as the economy is experiencing a slowdown. Fiscal spending is growing at a faster pace than the retail sales, rising 37% in July from the previous year, the Ministry of Finance reported. Retail sales increased 12.1% in June and 12.2% in
South African economy picked up in the second quarter, with quarterly GDP growth at 3.2 per cent from 2.7 per cent in the first quarter of this year. The growth of continent's largest economy picked up the pace, as nation's mining sector soared in the second quarter. Mining grew an annualized 31.2 per cent between April and June, after erasing 16.8 per cent in
Oil futures went up in New York on reduction in output in the Gulf of Mexico as the result of Tropical Storm Isaac and due to speculations about decrease in U.S. supplies. Petroleum prices for October delivery gained 72 cents, a 0.8 per cent increase, to $96.19 a barrel on the New York Mercantile Exchange's Comex division.
The single european currency ticked higher versus the greenback on Tuesday on expectations of Eurozone's recovery led by the European Central Bank and Federal Reserve easing policy. The Euro went up to $1.2567, a 0.5 per cent increase.
European stocks decreased on Tuesday on investors fears about the upcoming slowdown in global economy due to lower than expected economic growth of Japan.The Stoxx Europe 600 index gave up 0.60 per cent to 267.56, after a 0.5 per cent increase this Monday.
Natural gas futures pushed higher on Tuesday, August 28, bouncing from an eight-week low, as the U.S. National Hurricane Center said that Isaac could become a hurricane. Soon after the news, natural gas futures with October contract inched 0.3 per cent higher to $2.682 a million British thermal units. Still gains were limited by growing concerns over the U.S. possible expansion of inventory levels.
On Tuesday, August 28, Catalonia has asked for a bailout of 5bn euros from the Spanish government. Catalonia represents one-fifth of the nation's economy. In the meanwhile, Spanish economy contracted by 0.4% between April and June after a 0.3% drop in the first quarter. On the top of that, in June, Spain requested 100bn euros of loans from the Eurozone's bailout fund for its troubled
Wall Street was little changed on Tuesday, as investors awaited the release of U.S. economic reports later this day. The Dow Jones Industrial Average added 0.12%, to 13,139.81; the Standard & Poor 500 Index edged 0.14% higher, to 1,412.33, while Nasdaq 100 futures rose by 0.18%, to 3,078.79.
German Gfk consumer sentiment indicator remained unchanged for September at 5.9, from 5.9 in the previous month. In the meanwhile, analysts predicted German leading indicator of consumer spending, which represents overall economic activity, to fall by 0.1 to 5.8.
After Italy has raised 3.75 billion euros on Tuesday at a sale of sovereign debt, nation's borrowing rates fell sharply from previous levels. The rate on return earned by buyers of Italian government bonds due to mature in 2014 dipped to 3.064 per cent from 4.86 per cent at the last similar auction on July 26.
According to the Hong Kong Census and Statistics Department's report, made on Tuesday, Hong Kong's trade balance in July showed a deficit of 40.1 billion Hong Kong dollars, after a deficit of 44.71 billion in the preceding month. In the meanwhile, analysts had predicted Hong Kong's trade balance to decline to -48.6B in July.
Spain's debt costs fell to the lowest in three months after today's auction, amid hopes that the ECB will soon start to act in order to curb Eurozone's debt crisis. The Treasury sold 3.6 billion euros of bills today, as the demand for bonds was strong. The yield for three-month bills dropped to 0.946 per cent from 2.434 per cent at the last sale on
Home prices in biggest U.S. metropolitan areas posted a year-on-year growth rate in June, Standard & Poor's reported on Tuesday. The 20-city Composite Home Price Index advanced 0.5% on year in June, while analysts estimated the index to fall by about 0.3%. The index rose seasonally-adjusted 0.9% on month, after a 1.0% increase in May.
U.S. consumer confidence posted a significant decline in August, the Conference Board said on Tuesday, with the consumer sentiment index tumbling to the weakest level since the end of 2011. The index slid to 60.6, compared to 65.4 in July, while economists forecast a less steep decline.
Treasury 10-year rate slipped to a two-week low after the outlook for weaker global economic growth and controlled U.S. inflation fuelled demand for U.S. government notes. The 10-year yield fell 0.02 percentage point to 1.63%, the least since Aug. 13. The 1.625% note maturing in August 2022 rose 5/32 to 99 29/32.
Swiss stocks tumbled, after SMI's two-day rally, after Japan reduced its economic assessment for the first time in 10 months. On Tuesday, the Swiss Market Index declined 0.7% to 6,443.70. The measure has still surged from the year's weakest level on June 4. The Swiss Performance Index slipped 0.7%.
Canada's currency rose for the third day against the U.S. Dollar after crude oil, the nation's major export, rallied. On Tuesday, the Loonie advanced 0.3% to 98.76 cents per U.S. Dollar, after reaching 98.43, the highest since May 3. One Loonie buys $1.0126. Economists forecast a report this week to show Canada's GDP rising for a fourth consecutive quarter.
Spain's recession deepend in the second quarter with the nation's GDP falling by 0.4% from the previous three-month period, when it declined 0.3%, the Madrid-based National Statistics Institute reported today. Meanwhile, Spain's borrowing costs slid to a three-month low at an auction on Tuesday.
German equities tumbled on Tuesday on lack of action from the ECB and fading hopes for QE3 in the US. Dismal headlines from Japan also weighted down on the German shares. However, successful short-debt auctions in Italy and Spain restricted losses of the German blue chips index. The DAX Index dropped by 0.64% to trade at 6,977.85. All industries within
UK stocks slid on Tuesday as hopes for easing in the US started to fade due to upbeat US data releases over the last weeks. Adding to the negative mood of the UK equities, Japan downgraded its economic outlook on Tuesday. The FTSE 100 Index lost 0.25% to trade at 5,758.42. Only three in ten sectors included in the index
Hong Kong stocks inched up on Tuesday amid speculation that more public companies will buy back their shares. Recently, the China Securities Journal cited an unknown official from the China Securities Regulatory Commission who said that publically traded companies are obliged to buy back their own equities. The Hang Seng Index gained 0.07% to close at 19,811.80. Five out of