The Russian Ruble advanced by 0.3% to 34.9178 versus Bank Rossii' basket by midday trading session in Moscow on Wednesday. That was the biggest gain since 8th of January. Investors purchased the Rubble as crude oil price increased and domestically based companies bought the currency to cover tax liabilities.
Arabica coffee increased for the first time in more than 10 days on Wednesday amid speculation that blenders might start using more of the Starbucks-preferred beans to blends, while Robusta beans added 12% this year following a 6.3% climb in 2012. May Arabica futures advanced 0.6% to $1.3385 a pound earlier on Monday session in New York, while May Robusta
Wheat traded on the Chicago Board of Trade increased on Wednesday, however, wheat futures fell by 23% since last July, when it reached a four-year high at $9.4725 a bushel. The contract for May delivery jumped 0.8% to $7.2775 by 3:34 p.m. in Singapore today after a report by the Bangladesh's Directorate General of Food showed that the country may
Copper advanced in New York on Wednesday rebounding from its lowest price since August 2012 after Morgan Stanley reported that demand for the commodity is reviving in China. May Copper futures increased by 0.9% to $3.4345 a pound earlier on Wednesday session after reaching its 7-month low at $3.388 a day earlier, while it added 0.8% to $7,590 a metric
U.K. equities swung between gains and losses on Wednesday to extend its longest streak of declines on speculation Bank of England can adopt stimulus measures started by other banks. The FTSE 100 Index lost 0.2% to 6,425.58 at 16:30 in London. Only two sectors posted gains and 49 out of 101 firms edged higher. Schroders Plc was the top performing
Emerging-market shares advanced for the first time in more than a week on Wednesday led by China's stocks, which improved the most in a two-month period after the Eurozone's policy makers will talk through another bailout plan for Cyprus. The MSCI Emerging Markets Index increased by 0.2% to 1,026.5 on Wednesday, when 361 stocks dropped and 332 stocks advanced.
Gross mortgage lending in the United Kingdom dropped by 8% in a period between January and February, the Council of Mortgage Lenders showed in a report on Wednesday. The report said that total gross mortgage lending fell from a level of 11.4 billion pounds in January to 10.5 billion Pounds in February, compared to 10.4 billion pounds in February 2012.
The U.S. Treasuries decreased for the first time after it advanced three sessions in a row amid speculations that the Federal Reserve will keep stimulating economy with its monetary policy programme. The U.S. benchmark 10-year yields advanced from its lowest level in two weeks, when it added 0.04 percentage points to 1.94% earlier in New York.
West Texas Intermediate advanced on Wednesday following its biggest gain in a month, at the same time Brent futures bounced back from their lowest level in three months, as the Eurozone's lawmakers decided to design a new bailout plan for Cyprus. April WTI futures with today's expiration rose 97 cents to $93.13 a barrel on NYMEX, while May Brent futures
The British Sterling appreciated on Wednesday after the Chancellor of the Exchequer George Osborne said the country's government decided to keep the Bank of England's inflation target at 2% allowing room for further interest rate cuts in the future. The Pound advanced 0.3% to $1.5138 and it weakened 0.2% against the Euro to 85.48 pence following a 0.8% drop earlier
Hong Kong equities advanced on Wednesday for their first rally in four days as investor concerns over Cyprus's rejection of a tax levy on bank deposits were offset by rising Chinese mainland shares. The Hang Seng Index climbed 1% to 22,256.44 with around three shares soaring for each that declined. Utilities was the only sector posting losses, as it was
The Euro advanced by 0.1% to $1.2893 in the morning trading session in London on Wednesday. Traders were positive, as Cyprus' Parliament refused a levy on bank deposits. Also, market traded on speculation that Cyprus will have more time to find a consensus on a financial rescue plan, as the ECB committed to provide additional liquidity to the country.
The South Korean Won depreciated by 0.5% to 1,116.20 per U.S. Dollar in Seoul session on Wednesday. The currency reached 1,119.95 level during trading hours, which was the weakest point since 27th of September. Investors were willing to sell the Won, as the government said that it will consider measures to restrain capital flows and reduce volatility in the market,
The Australian Dollar, also known as the Aussie, was slightly changed to $1.0376 in the end of Sydney trading session on Wednesday. The Aussie remained lower after the biggest drop in a week, as Cyprus rejected a bank deposit levy. The decision snapped demand for risky assets, as the uncertainty in Europe persists, attracting more money for safe haven securities.
The Shanghai Composite Index was higher by 2.7% to 2,317.38 points in Shanghai trading session on Wednesday. That was the biggest gain since 14th of January and volume was 10% higher than the 30-day average. Market traded positively on a manufacturing data, which indicated expansion, and Market Studies LLC announcement that Chinese stocks will gain 28% till September.
Farm commodities except for coffee rose on Tuesday despite soft demand for risky assets amid instability in Cyprus. Meanwhile, speculation that investors are returning to markets to seek cheap valuations supported the commodity sector. Wheat climbed after Tunisia, Algeria, Bangladesh, Iraq and Jordan issued tenders to buy soft wheat. However, gains were restricted by forecasts that global supplies will rise this
Energy futures apart from natural gas traded in the negative area amid broadly stronger US Dollar and concerns that turmoil over Cyprus bailout may push the Eurozone deeper into recession. Investors also remained on the sidelines ahead of the EIA energy supply reports due on Wednesday and Thursday. Crude oil slumped on global demand concerns as Eurozone's recession may persist. Moreover,
Industrial metals were divided on Tuesday amid as demand for risky assets weakened after Cyprus rejected bailout conditions proposed by Eurozone officials. However, low prices lured some investors thus creating an upside potential for the commodity group. Aluminum inched up on bottom fishing. However, the metal remained under pressure amid as elevated China's reserves are expected to weigh on demand
Precious metals were mixed on Tuesday as uncertainty over bailout for Cyprus boosted safe haven appeal of the commodity sector. At the same time, stronger US Dollar and cautiousness ahead of the Fed policy meeting due on Wednesday put heavy pressure on precious metals. Gold attained almost a one-month high as turmoil in the Eurozone continued to buoy safe-haven assets. Moreover,
Most U.S. equities retreated on Tuesday after European Central Bank announced it would provide liquidity to Cyprus within existing regulations and rules. Nicos Anastasiades, the Cypriot President, failed to gather support from Parliament for imposing losses on deposit holders that was the key requirement from European officials. The Dow Jones Industrial Average, however, climbed 0.03% to 14,455.82, as Coca-Cola Co.,
Most U.S. equities slumped for a third straight day after Cyprus rejected a tax levy on bank deposits to secure the bailout funds of the European Union. The S&P 500 Index retreated 0.2% to 1,548.34 for its longest losing streak this year. Six out of ten groups in the gauge declined. Electronic Arts Inc fell the most by 8.3% on
The Canadian Dollar, also known as the loonie, weakened by 0.5% to 1.0271 per U.S. Dollar by midday trading session in Toronto on Tuesday. The currency depreciated for a second straight day, as Canadian factory sales data in January was worse than economists' estimations. The market also reacted to the U.S. home construction and permits data that reached the highest
The Commerce Department revealed on Tuesday that construction of new residential property in the US moved up last month. Housing starts increased by 0.8% in February and were equal to the annual rate of 917,000 on a seasonally adjusted basis, compared to expectations of 915,000. The figure for the preceding month was 910,000.
U.K. equities fluctuated between gains and losses, while Cypriot lawmakers discussed the lax levy on bank deposits and U.S. housing starts beat the estimates. The FTSE 100 Index rose 0.02%, or 2.63 points, to 6,460.98 points by 16:48 in Frankfurt. Six out of ten groups in the benchmark gauge edged higher. BAE Systems Plc jumped 2.5% for the biggest rally