European equities declined on Wednesday trading session falling from the highest level in a six-year period with Credit Suisse Group AG leading drops loosing 2%. The benchmark index Stoxx Europe 600 slipped 0.3% to 337.33 as of 12:51 London time, while the gauge has advanced by 4.6% so far this month, the largest jump in a month since July.
Swedish retail sales advanced at the beginning of 2014 following a month of contraction, however the gain was slower than economists expected, the latest data published by the Statistics Sweden showed on Wednesday. The report revealed that Sweden retail sales gained 0.3% on a sequential basis in January following a drop by 0.7% in December.
Wage growth in Italy increased at the beginning of this year with the hourly wage of Italian employees rising by 1.4% on an annual basis in January, a report published by the statistical office Istat showed on Wednesday. The report also showed that Italy's agricultural sector wages added 3.4%, while industrial sector gained 2.1%.
The United Kingdom economy improved in the last quarter of 2013, however the annual growth in the whole 2013 came in weaker pace than economists originally expected, a report published by the Office for National Statistics showed on Wednesday. The British gross domestic product gained 0.7% in the Q4, while in the Q3 it rose by 0.8%.
Residential mortgages in Spain declined significantly in the last month of 2013, the latest data published by the statistical office INE showed on Wednesday. According to the report, the Spain's residential mortgages dropped notable by 30.1% on an annual basis totaling 12,329 in December, while on a sequential basis the figure fell by 11.5%.
The United Kingdom's central bank will likely to maintain its benchmark refinancing rates unchanged at current level and will focus on recovery supporting the economy, the Bank of England Economists Spencer Dale revealed on Wednesday. In the BoE last Quarterly Inflation Report, the bank showed its focus on unemployment level, labour productivity and wages.
Australian construction sector improved in the last quarter of 2013 with the total value of finished construction increased by 0.2% totalling A$53.101 billion, the latest data revealed by the National Bureau of Statistics showed on Wednesday. However, the country's construction work done on a sequential basis slowed from a2.7% gain recorded in the Q3.
Consumer confidence in the Europe's largest economy is forecast to increase in the month of March as economists expect higher incomes and stable labour market, according to a report revealed by the GFK showed on Wednesday. The report showed that so-called forwards-looking German consumer confidence index gained from 8.3 points to 8.5 points in February.
Global shares swung between gains and losses on Wednesday trading session with the global equity index recording a modest decline amid concerns that China's economy may slow down after the People's bank of China injected fund into financial markets. The MSCI broadest Asia-Pacific gauge outside Japan added 0.28% as the majority of Asian stocks gained, while Japan's Nikkei 225 lost
Wall Street shares increased earlier on Wednesday trading session with the U.S. benchmark stock index Standard & Poor's 500 heading towards its new all-time high that is a possible resistance according to technical analysts. The S&P 500 was last traded 0.7% below its record high, while the Dow Jones industrial average gained 34 points and the Nasdaq 100 added 4.25
The Sterling rose for the second day versus the greenback as a report showed the growth of U.K. economy in the last quarter matches economist expectations. The Sterling traded at $1.6688 at 9:48 a.m. London time after rising to $1.6727 yesterday, the strongest since Feb. 19. The Pound was at the level of 82.39 pence per Eurozone's currency. The Pound has added 13% in
Offshore Yuan ended a slide in the last seven trading sessions as Chinese authorities stated that Yuan's drop is within the normal range. China's currency added 0.24%, the biggest advance since May 8, to 6.1118 per greenback at 4:47 p.m. in Hong Kong after it had lost 1.5% in the last seven days. In Shanghai Chinese Yuan gained 0.03% to 6.1248, picking up from the seven-month lowest level
U.S. gas poised for the three-day drop amid speculation of decreased demand for heating fuel as U.S. weather is getting warmer. The March contract declined 5.2% reaching $4.832 per million Btu and was little changed at $4.907 as of 10:11 a.m. in London, while the contract for April delivery contracted 2% to $4.498. Natural gas dropped 6.4% yesterday to $5.096
The 18-nation currency depreciated versus most of its 16 major counterparts amid speculation the ECB may increase monetary stimulus in the following week since the forecast for consumer prices has worsened. Eurozone's currency contracted 0.4% before it was little changed at 140.79 yen as of 5 p. m. New York time, after the advance to 141.27 recorded on Feb. 21, the highest since Jan. 24.
The Prime Minister of Italy Matteo Renzi has got a support from the upper house of country's parliament. The vote of 169-139 for Renzi's appointment as the Premier increases the possibility of successful and long-awaited reforms in Italy. Matteo Renzi promises to bring changes into economy and decrease taxes in order to end the economic stagnation in the country and
The total number of approvals for mortgages in the United Kingdom jumped considerably in January of this year to its largest level in more than six years, helped by the government support program, when buying property. According to the BBA data, approvals increased to 50,000 in December, up from 47,100 in the last month of 2013. Economists expected the indicator
Retail sales in Italy plummeted surprisingly in December of the previous year, as the drop was posted by both non-food and food sectors. The indicator was down 0.3% on a monthly basis, after staying flat in November. Analysts expected a 0-0.4% growth, depending on survey. Moreover, year-on-year retail sales crashed 2.6%, while they were predicted to show a rise of
Risks of default in the United States decreased by around 50% during last four months, as the indicator of default slipped to 26.5 points from 46 in October, almost reaching the German level of 25 points. Analysts explain the positive movements by strong economic growth in the U.S. Moreover, recently the U.S. Congress approved an increase of borrowing authority until
According to the median expectation of analysts, inflation in New Zealand will reach 2.03% this year, the survey from the Reserve Bank showed on Tuesday. In December, it was predicted the inflation to be at 1.94% level. Therefore, now the average forecast is above the 2% target of the CB. Economists explain the rise in expectations by economic recovery and
Economic growth in Germany was affirmed at 0.4% in the last quarter of 2013, as it was initially predicted in January. In July-September quarter, GDP added 0.3%. The largest contribution to growth was done by investment, which increased 1.4%. Moreover, trade balance added 1.1% to the GDP increase. At the same time, inventories declined 0.8%, while government expenditures remained unchanged.
Corn declined on Monday trading session falling by the most in a five-week period amid rising concerns that supplies of the commodity may advance as production in the U.S. increased to an all-time high for the second straight year. Corn for settlement in May dropped 1.1% to $4.54 per bushel as of 9:56 a.m. on the CBOT and was set
The European benchmark Brent crude jumped on Monday after the Energy Information Administration reported that cushing stockpiles declined by 5.96 billion barrels in the December-February period totaling 35.9 million, the lowest level since October 2013. Brent for delivery in April rose 28 cents to $110.13 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate crude increased on Monday and traded above a level of $100 per barrel for the eleventh straight day amid speculation that supplies in Oklahoma dropped for the fourth successive time last week. WTI for settlement in April gained 14 cents to $102.34 per barrel as of 10:22 a.m. on the NYMEX.
European shares increased on Monday session after private companies from Dixons Retail Plc to Scania recorded notable gains on heightened merger activity overshadowing a drop in HSCB stocks as the company showed unfavourable earnings. The benchmark Stoxx Europe 600 Index gained 0.3% to 337.22 as of 3:39 p.m. London time.