Oil slid in Asian session on Friday, prolonging yesterday's decline, amid the U.S. Dollar advance. November delivery crude lost 0.1% and traded at $92.02 per barrel. The ICE Dollar Index increased to 79.38 on Friday, compared to 79.356 in the previous session. Meanwhile, November delivery heating-oil and gasoline each added 1 cent to $3.17 per gallon and $2.75 per gallon,
German shares remained higher on Thursday as positive reports from China's economy boosted global demand for riskier assets. Sending German equities higher, Spanish borrowing costs slid during ten-year sovereign bond auction on Thursday. Spain's Treasury sold EUR1.51 billion of ten-year government bonds generating average yield of 5.458% compared to 5.666% at the similar debt auction in September. The DAX Index
UK equities halted an upward trend on Thursday despite encouraging figures from China. China's GDP expanded in line with market expectations while Chinese industrial production and retail sales beat forecast last month. Meanwhile, investors awaited the results of a two-day EU summit that stared today. The FTSE 100 Index lost 0.19% to trade at 5,899.85. Five out of ten sectors
Hong Kong shares advanced for the sixth consecutive session on Thursday. China's GDP grew by 7.4% in Q3, signaling that China's economic slowdown is stabilizing. The country's industrial production and retail sales also beat estimates last month, boosting market sentiment. Moreover, positive data from the US real estate market lifted Hong Kong shares. The Hang Seng Index gained 0.48% to
Japanese shares skyrocketed on Thursday after China's GDP numbers convinced investors that China's economy is growing at an expected pace. Upbeat US housing data also prompted traders to turn to riskier assets. Moreover, the Yen continued to depreciate, thus lifting exporters. The Nikkei 225 Index soared 2.07% to end the session at 8,988.75. Nine out of ten sectors within the
US equities rallied during risk-on Wednesday's trade. Upbeat data from the national housing market boosted market sentiment. US housing starts and building permits surpassed forecast in September, signalling that US economy is on the way to recovery. Adding to the positive mood of the US shares, corporate earnings reports came better-than-expected. The S&P 500 Index advanced 0.41% to close at
Statistics Canada reported on Friday that wholesale sales grew more than expected in August, ending a 3-month long streak of losses. Wholesale sales increased by 0.5%, beating expectations of a slight 0.2% increase. The reading for a preceding month was revised down to minus 0.7% from an initial estimate of a 0.6% decrease.
US blue chips inched up on Wednesday on positive reports from the US housing market. Moreover, better than expected Q3 results of Dow companies also sent the US stock index higher. However, increased cautiousness ahead of China's GDP data and EU summit due on Thursday capped the upswing of the US blue chips. The Dow Jones Industrial Average Index added
On Thursday, gold edged lower, as traders were cautious before an upcoming EU summit, and Spanish borrowing costs fell. On the NYMEX, December delivery futures for gold were traded at $1,747.85 per troy ounce, which was a 0.3% fall for the European morning trade. Earlier in the day, prices declined by 0.4%, hitting a session low of $1,746.85.
On Thursday, futures for crude oil held still, as the world's second biggest economy witnessed the lowest level of GDP since 2009, while traders were awaiting an upcoming European leaders summit. On the NYMEX, December delivery futures for light sweet crude were traded at $92.59 per barrel, holding still for the European morning trade.
On Thursday, copper was traded higher, reaching a 1-week high, as market sentiment was buoyed by Chinese data, which developed in line with expectations. On the NYMEX, December delivery futures were traded at $3.573 per pound, which was a 0.15% gain for the European morning trading hours. Earlier, it hit a session high of $3.764, which was the strongest since October 11.
The Federal Statistical Office reported on Thursday that trade balance of Switzerland added less than expected in September. The net trade was equal to CHF2.02 billion, while the economists' forecast was that it would be equal to CHF2.42 billion. However, it was still a growth, compared to a reading of 1.61 billion in the preceding month.
The Department of Labor reported on Thursday that the number of jobless claims last week was higher than expected on seasonal shift. Claims for jobless benefits added 46,000 and reached the level of 388,000 during the week ended October 13. The economist forecast, however, was that the reading would be equal to 365,000. The number of jobless claims for the preceding week was revised up to
On Thursday, Spain witnessed a decrease in borrowing costs, as it was selling its government debt, amid speculation that an upcoming European leaders summit will decrease uncertainty over Spanish bailout plan. Spain's treasury managed to sell 10-year bonds worth EUR1.51 billion, having the average yield of 5.458%, which was a decrease compared to the yield of 5.666% at a similar auction in September. However, demand for
The Office for National Statistics reported on Thursday that retail sales in the U.K. increased more than forecast last month, as demand for warm clothes and school uniforms grew in the beginning of autumn. Sales that include fuel added 0.6% in September, compared to an August's decline of 0.1%. Economists, however, expected that last month's retail sales would gain 0.4%. Clothes, which were the main
Analysts from the leading investment bank Goldman Sachs prepared estimations, which forecast a lower oil price for 2013 and 2014 and warn oil companies that it will be harder to hit their business growth targets. GS's forecasts say that the average price of Brent crude oil will be around $110 a barrel next year and $105 in 2014, comparing with
The Swedish Krona strengthened by 0.4% versus the Euro to 8.6091 and by 0.36% against the U.S. Dollar to 6.5651 on early London trading session. The Krona appreciated against the major currencies, as the Riksbank governor Stefan Ingves published comment that keeping the domestic key interest rate low for a long time contains a high risk and it should not
Farm commodities were mixed on Wednesday amid broadly weaker US Dollar and positive economic data from the US. However, soft demand for US exports weighted down on the commodity group. Wheat was the top-performer, erasing previous losses as dry weather in the US southern Great Plaints is threatening to cap output. At the same time, rains in Arkansas and Ohio
Energy futures were mixed on Wednesday after a release of the US supply data. Meanwhile, upbeat US data improved appetite for riskier assets, thus supporting the commodity group. Moreover, growing tensions in the Middle East coupled with soft greenback also added to gains of energy futures.Crude oil was flat after the EIA reported that US crude oil supplies climbed by
Base metals rallied on Wednesday as US real estate market data signaled that the world's top economy is recovering. However, investors remained cautious ahead of China GDP data release due early on Thursday.Aluminum was the best-performer, rebounding after previous losses on positive headlines from the US. However, the upswing was capped by persistent oversupply in the market.Copper advanced on promising
Precious metals moved higher on Wednesday as broadly weaker greenback lent support for dollar-priced commodities. However, upbeat numbers from the US housing market coupled with increased cautiousness ahead of the EU summit created pressure on precious metals. Gold was steady as investors continued to anticipate the results of the EU summit. At the same time, signs of the US economic
China's retail sales, fixed-asset investment and industrial output accelerated in September, easing pressure to add stimulus in order to support nation's economy after a 7-quarter slowdown. GDP rose 7.4% in the Q3 from the previous year, according to the National Bureau of Statistics. The figure matched economists' forecast. GDP expanded 2.2% from the Q2, a 4-quarter high.
Asian stocks gained as economic growth in China met economists' projections and U.S. housing starts increased. The MSCI Asia Pacific Index rose 0.8% to 123.91, set for the highest close since September 19. Japan's Nikkei 225 Stock Average climbed 2% and Australia's S&P/ASX 200 gained 0.9%. South Korea's Kospi Index rose 0.1% and Hong Kong's Hang Seng Index advanced 0.6%.
Australia's Dollar reached the strongest level in 2 weeks after data from China showed signs of stabilizing economy, brightening the outlook for exporters of the Pacific nation. The Aussie Dollar touched $1.0397, the highest level since October 1, before trading at $1.0388. It gained 0.3% to 82.20 yen. The New Zealand traded at 82.17 U.S. cents and gained 0.3% to