German stocks jumped on Monday on inspiring German GDP data. German GDP expanded by 0.3% in Q2 compared to a 0.2% growth widely expected. However, an unexpected decline in German investor sentiment index capped the upswing. The German DAX Index gained 0.81% to trade at 6,965.53 at GMT 12:00. Eight out of nine industries included in the index posted gains.
UK halted two-day decline on Tuesday after positive data from Germany. German GDP expanded more than expected in the second quarter. Moreover, speculation that some of the BoJ policymakers are ready to provide additional monetary stimulus for Japanese economy improved market sentiment. FTSE 100 Index added 0.39% to trade at 5,856.15 at GMT 12:00. Eight out of ten industries included
The Hang Seng Index rallied 1.05% on Tuesday as recent dismal data releases spurred speculation that the PBOC will ease its prudent monetary policy. Adding to gains of China's stock index, Germany reported that its economy grew faster than expected in Q2. All nine sectors included in Hang Seng Index soared. The largest gainers were telecommunications and basic materials. Among
Farm commodities plunged on Monday as beneficial weather in India and Brazil is likely to result in improved crop yields. Moreover, recent USDA report continued to create heavy pressure on grain commodities. Wheat was the worst-performer after Canada announced that it expects wheat crops to increase by 5.7% from the initial estimate in a year starting Aug. 1. Corn dropped the most
Japanese equities erased some of the previous losses on Tuesday amid hopes that the BoJ will announce additional stimulus measures to boost faltering economy. Market sentiment was improved by hopes that the ECB and Fed will ease theitr monetary policies further. Moreover, investors started to buy equities that were oversold during dismal earnings season, thus sending Japanese stocks higher. Nikkei
Energy commodities apart from Brent oil declined on Monday despite weaker US Dollar and hopes for easing in the Eurozone, China and US. However, increased geopolitical tensions in the Middle East restricted the downswing of the commodity group. Crude oil started Monday's session on a positive note amid potential supply disruptions from Strait of Hormuz. However, crude oil futures halted the
Dow Jones Industrial Average Index slumped 0.29% on Monday on high risk-aversion among investors. Disappointing Japan's data as well as pessimistic news from China weighted down on US equities. However, speculation that Eurozone and China will loosen their monetary policies continued to restrict the downswing. All industries included in the index declined. The top-losers were basic materials and health care
As reported by the Bank of Italy, nation's public debt rocketed to an all-time high of around 2 trillion euros. The Italian public debt rose by 6.6 billion euros at the end of June, pushing government's borrowing costs closer to 6% level, despite implemented austerity measures. Moreover, Italian economy diminished by 0.7 per cent in the Q2, and erased 2.5 per cent compared to a
Crude oil edged higher on Monday, and was trading higher than $115 per barrel, on supply concerns and on hopes that Central banks will stimulate economic growth in order to boost global oil demand. Brent crude oil jumped as high as $115.11 per barrel. At the same time, U.S. oil rose by 64 cents to $93.51. On Friday, the International Energy Agency cut its oil demand
Japan's economy decelerated in April-June period, and added only 0.3%, after jumping by 1% in the first quarter of 2012. The economy slowed down, as exports was hurt by Eurozone's debt crisis and as domestic consumption rose modestly. In the meanwhile, last week the BoJ left its benchmark interest rate at the 0.1% level.
Gold futures were little changed in the beginning of the week, after a three-day rally, as traders are waiting for bold actions from the ECB to curb the Eurozone's debt crisis. December gold added 0.1 per cent to $1,623.50 per ounce. At the same time, other precious metals were down on Monday. September silver and copper for the September delivery erased 0.5% and 1% respectively.
Industrial metals retreated on Monday after disappointing Japanese data. Japan's GDP rose less than expected in Q2, thus denting demand prospects for the base metals. At the same time, global easing speculation continued to lend support for the commodity group. Aluminum prices decreased after dismal Japanese and Chinese data. Meanwhile, hopes for easing in Asia limited losses of the light metal. Copper
US stocks started the week in a red territory on lingering global growth concerns after Japan announced that its GDP growth slowed more than expected in Q2. At the same time, successful Italian bond auction supported the market sentiment. The S&P 500 Index lost 0.13% to 1,404.11 on Monday. Eight out of ten industries included in the index dropped. The
Precious metals tumbled on Monday despite hopes that central banks across the world will implement stimulus measures soon. Meanwhile, traders await fresh data from the US due this week. Gold slid by 0.64% amid soft physical demand from India. Indian gold imports are expected to drop by 30% this year on weak Rupee and drought that curbed households' income. Silver
India's wholesale prices rose 6.87% on year in July, compared to 7.25% climb in June, the Ministry of Commerce and Industry announced on Tuesday, economists forecast halt of price increase pace at 7%. Primary article inflation eased to 10.39% from 10.46% in June. Manufactured product prices surged 5.58% from 5%, while fuel and power prices rose only 5.98% from June's
Eurozone's industrial output declined for a fourth time in 2012, as falls in capital, intermediate and consumer non-durable production offset increases in energy and consumer durables, Eurostat said on Tuesday. June's output posted a 0.6% fall, compared to an upwardly revised 0.9% rebound in May, likely stimulating 0.2% GDP drop in second quarter. Industrial output fell 2.1% on a yearly
German investor sentiment tumbled for the fourth consecutive month in August, the ZEW economic institute said on Tuesday, adding to signs that the Eurozone crisis is worsening the outlook on Europe's largest economy. The indicator stood at -25.5 points from -19.6 in July, falling to its weakest level in 2012. The data significantly fell behind an estimate of a rise
Sweden's inflation weakened to 0.7% in July from 1% in preceding month, Statistics Sweden reported on Tuesday, while analysts forecast a rate of 0.8%. The CPI dropped 0.4%, compared to a 0.2% decline in June. Core inflation was 0.8% in July, while harmonized index of consumer prices posted a 0.7% rise on year.
Sweden's industrial output rose first in five months, opposing analysts' forecast of a further decline, preliminary data reported by Statistics Sweden on Tuesday. Industrial production surged 1.1% on year, compared to estimated 1.1% decline. Manufacturing production rose 0.8% from June, and mining and quarrying industry output increased 5%.
German Bunds declined for a second day as a report posted Germany's GDP fell less than estimated in the second quarter, diminishing demand for safer assets. The 10-year bond yields gained to 1.44%. The price for 1.75% security due in July 2022 dropped 0.36 to 102.82. The two-year bond yield was little changed at -0.038%, after reaching a record low
U.K. inflation rose unexpectedly in July first in last four months as airfares surged and there was some development of early summer discounts in clothing stores. CPI climbed 2.6% on year in July, after a 2.4% rise in June, as reported by the Office for National Statistics on Tuesday. Analysts expected a 2.3% increase. The pound prolonged its gain versus
Hong Kong stocks advanced, lead by the benchmark index reaching its first gain in three days, before the U.S. retail sales report forecast to show demand is rebounding in the world's largest economy. On Tuesday, the Hang Seng Index rose 0.2% to 20,130.15. The S&P 500 Index climbed 0.1%.
France's GDP unexpectedly avoided the first quarterly decline in three years as both government and companies increased spending. GDP stagnated in the second quarter from the first, the Insee reported on Tuesday, while economists estimated a 0.1% contraction. Gross Fixed Capital Formation gained 0.6%. Public sector expenditure rose 0.5%. GDP climbed 0.3% on year.
Switzerland's producer and import prices tumbled at a lower pace for the second straight month in July, the statistical office announced on Tuesday. The producer and import price index dropped 1.8% on year, after a 2.2% fall in June. Analysts estimated a 1.7% decline, but the drop still was the smallest since July 2011, when it posted a 0.6% fall.