Natural gas futures extended previous gains during the US afternoon session on Thursday after the EIA reported on slightly lower than expected increase in the natural gas stockpiles. Natural gas futures for June delivery traded at 2.365 US Dollars per Btu on the New York Mercantile Exchange, appreciating by 4.06% since opening.
China has denied that its currency is undervalued and urged the Washington to ease its policies in regards to high-tech goods exports. The announcement came after Timothy Geithner pressed China to allow the Yuan appreciate further and to ease market control. At the same time, Chen Deming, China's Trade Minister, announced that China's foreign trade is mostly balanced, indicating that
Gold prices increased during Asian trade on Friday ahead of the key labour data from the US later today. Broadly lower US Dollar also provided a lift for the yellow metal. COMEX gold futures for delivery in June traded at 1,636.80 US Dollars per troy ounce on the New York Mercantile Exchange, rising by 0.1% since opening.
Facebook determined the price for its share for its IPO at between 28 US Dollars and 35 US Dollars per share thus valuing Facebook at between 85 billion US Dollars and 95 billion US Dollars. The IPO is expected to be the biggest for the internet company, even larger than valuation of Google's of about 23 billion US Dollars in
The ECB left the core interest rate unchanged at record low level of 1% for the fifth month in a row in May. The bank also left deposit facility and marginal lending unchanged at 0.25% and 1.75%, respectively. The decision was widely expected. Traders await fresh comments from Mario Draghi regarding policies of the ECB aimed at struggling with persisting
China's services activity swung from contraction to expansion in April. HSBC reported that its services PMI index rose from 49.9 to 51.4 in April. Experts said that stronger growth in the serves sector may be attributed to the larger number of newly created businesses as well as to general improvement of the economic conditions in the country.
Crude oil futures moved higher during Asian session on Friday amid broadly weaker US Dollar. The greenback's index that measures its performance against six main currencies declined by 0.05% to 79.24 US Dollars. Meanwhile, light, sweet crude oil futures for delivery in June traded at 102.67 Us Dollars per barrel on the New York Mercantile Exchange, advancing by 0.13%.
US jobless claims posted the biggest weekly fall in almost one year last week. The number of people applying for unemployment benefits decreased by 27,000 last week, approaching 365,000. Experts projected the number of jobless claims to ease down by 12,000 to 380,000. After the release of data, the greenback added to gains against the Euro and EUR/USD traded at
Agricultural commodities were mostly lower on Wednesday along with stronger US dollar and favorable weather conditions in the US.Wheat continued its tumble as wet and warm weather conditions in the US are likely to bolster harvest prospects and may result in oversupply in the market.Corn dropped after the USDA reported that Brazilian corn crops are expected to be higher by
Energy markets were mixed on Wednesday after the EIA report on the US stockpiles. Moreover, easing tensions between Iran and the West removed supply-risk premium for crude and Brent oil.Crude oil was almost unchanged despite negative labour data releases from the Euro Zone and US. Elevating US inventories, which rose by 2.84 million barrels last week, failed to push crude
Industry metals slumped on Wednesday after the Euro Zone's PMI showed contraction from 47.7 to 45.9 in April. Moreover, rocketing unemployment in the region that rose to 15-year high of 10.9% dampened risk-sentiment and sent base metals down.Aluminum fell as China's demand is likely to slide this year. Meanwhile, the light metal may be bolstered by growing smelting prices.Copper lost
Precious metals tumbled on Wednesday amid stronger US Dollar against the Euro as the Euro Zone's debt woes continued to weight on the common currency.Gold started to move closer with riskier assets and fell after disappointing labour data from the both sides of the Atlantic. However, the yellow metal may seek support on the expectations for further monetary easing in
German DAX index climbed on Thursday lifted as ECB decided to keep its benchmark rate unchanged and Spain successfully auctioned bonds. Index was supported with positive news from US as data showed jobless claims fell more than expected last week. BMW AG rallied 2.72% after German car maker reported its EBIT jumped 19% in 1st quarter. HeidelbergCement tumbled 2.8% after
FTSE 100 index recovered from previous day's drop and edged higher on Thursday as banks pushed the British benchmark higher. Nevertheless upside was limited as miners posted substantial losses after metal prices declined. Moreover UK service PMI contracted more than predicted. Smith & Nephew gained 4.2% after reporting a 3% gain in 1st quarter profit. Antofagasta lost 4.8% after reporting
Hong Kong's shares fell on Thursday as several local banks put negative pressure on the market after an investment firm Temasek Holdings sold shares at a discount. Hang Seng Index lost 0.28% or 59.55 points and closed at 21,249.53. Bank of China and China Construction Bank each fell 3.1%.Temasek also owns stocks in Industrial & Commercial Bank of China and
Australian shares faced a choppy session on Thursday, following their European and US peers as weak jobs data from both regions weighed on investor sentiment. Australia's benchmark S&P ASX 200 fell 0.16% or 6.90 points and closed at 4,429.00. Weaker commodity prices put negative pressure on miners. Rio Tinto fell 1.1% and Fortescue Metals Group shed 0.9%. On the upside
US stock markets finished lower on Wednesday pushed down by disappointing US hiring data amid all time high unemployment rate in Euro Zone. S&P 500 index fell 0.25% or 3.51 points and closed at 1,402.31. Dow Jones Industrial Average shed 0.08% or 10.75 points and finished at 13,268.57. Nasdaq Composite, however managed to gain 0.31% or 9.41 points and settled at 3,059.85.
Average property prices in 100 largest China's cities decreased by 0.71% yer-to-year in April, indicating the first annual fall since June 2011. Considering monthly moves, auto sales tumbled by 0.34%, signaling the eighth decline in a row, reported the China Real Estate Index System. The data indicated further slowdown in China's property market amid continuous restrictive measures of the government.
New auto sales in Australia soared by 7.6% on a seasonally adjusted basis in April, according to official data. Sales of cars approached 79,097 vehicles in April, reported the Federal Chamber of Automotive Industries. Meanwhile, passenger cars sales dropped by 2.5% last month whereas sport utilities sales soared by 27.9%.
Crude oil futures increased slightly during Asian trading hours on Thursday after recent fall after dismal US labour and EU manufacturing data that pressured crude oil price. Lower crude oil price created bargain buying opportunities for traders. Light, sweet crude oil futures for June delivery traded at 105.27 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.05%
Rio Tinto PLC expects the demand for its minerals and metals to remain strong in long-run while the demand for cooper is likely to surpass the world's supply in the next few years. However, coal production became more challenging in Australia as capital costs surged and investors demand more return on capital, Ton Abanese, the CEO of Rio Tinto said.
Average house prices in the UK declined by 0.2% last month, after falling by 0.1% in March. The property prices in the country have declined for the fourth consecutive month in April, signaling that recent stamp duty holiday appeared to create a short-lived stimulus for the real estate sector. The property prices are likely to continue falling taken fiscal problems
Dow Jones Industrial Average index slipped on Wednesday pushed by disappointing hiring data amid all time high unemployment rate in Euro Zone. Blue chip index shed 0.08% or 10.75 points and finished at 13,268.57. Financial stocks followed their European peers and contributed most to the decline for the Dow. Bank of America fell 1.8% and JP Morgan Chase dropped 1.4%.
S&P 500 index declined on Wednesday as jobs report showed US companies added less jobs than expected. US benchmark index fell 0.25% or 3.51 points and closed at 1,402.31. TripAdvisor rallied 17% after company reported profit for the 1st quarter and sales that beat analysts' predictions. Chesapeake fell 15%, a record drop since 2008. The firm lowered its yearly operating