German equities rebounded on Tuesday ahead of the US services industry growth data due later in the day. However, persistent concerns over political uncertainty in Spain and looming ECB press conference capped gains of German blue chips. The DAX Index climbed 0.31% and is currently trading at 7,662.63. However, only three industries out of nine jumped. Utilities and financials led
UK stocks swung to gains on Tuesday, rising after previous sell-off on upbeat quarterly results of the largest companies in FTSE 100 Index. However, gains remained capped by weakness of Asian and US stock markets. Political instability in Spain also continued to pressurize UK blue chips. The FTSE 100 Index climbed 0.66% to trade at 6,287.54. All but one
Hong Kong shares dropped for the second consecutive day on Tuesday, tracking weakness of the US and Japanese stock markets. Political instability in Spain as well as caution ahead of the ECB press conference scheduled on Thursday also put heavy pressure on Hong Kong blue chips. However, positive China's data limited the downswing. China's services industry grew to 54 in
Japanese equities gave back previous gains on renewed concerns over the Eurozone's debt crisis. Yields on Italian and Spanish bonds soared on Monday amid allegations of Spain's PM Mariano Rajoy of corruption. Weakness of the US stock market coupled with profit taking after a five-day winning streak also pushed Japan's stock index lower. The Nikkei 225 Index plunged 1.90% to
Dow plunged as weak US factory orders data spurred profit taking after previous rally. Market sentiment was further dampened by political instability in Spain. Spain's PM Mariano Rajoy faced allegations of corruption amid calls for resignation from opposition Socialist Party. Meanwhile, market players remained cautious ahead of the ECB press conference due on Thursday. The Dow Jones Industrial Average Index
US stocks closed sharply lower on Monday after a dismal report on the US factory orders. US factory orders rose 1.8% in December, compared to estimates of a 2.3% increase. Turmoil in the Eurozone also weighed. The S&P 500 Index slumped 1.15% to close at 1,495.71. All industries declined. On the upswing was Humana, the second best performer in the
Price of platinum increased by 10% to $1,690.75 an ounce in the London's exchange this year following the similar gain in 2012. Platinum appreciates as its supply slipped to a 13-year low as miners in South Africa reduce production. Analysts say, that supply side is very tight and it may push to a serious situation, as demand increases, especially in
Crude oil futures for March settlement were down by 18 cents to $95.99 a barrel on the New York Mercantile Exchange during Asian trading session on Tuesday. The volumes were above the 100-day average by 50%. Oil price is near a one-week low, after sliding the most in two months. Commodity traders wait for a report on the U.S. stockpiles,
Activity in German private sector improved at the fastest rate in last nineteen months as BME announced on Tuesday. The composite output index, measuring activity, was 54.4 in January, comparing with 50.3 in the previous month and also exceeding a 53.6 estimation. The overall growth was based on higher levels of service and manufacturing output.
The SMI gained 0.4% to 7,391.02 points in early Zurich trading session on Tuesday. The Swiss Market index increased already 8.4% this year, as it also bounced back from the last two weeks low. Givaudan, the world's largest fragrances and flavors producer, rallied the most in last nine most as announced a 36 francs dividend per share and profit,
The Euro Stoxx 50 Index was lower by 0.1% to 2,624 points in early London trading session on Tuesday. The European stock futures fluctuate as the main index, the Stoxx 600, yesterday tumbled the most in last three months. Today, UBS AG posted a lower quarterly loss than expected, but Royal KPN results missed analysts' estimations.
The British Pound slipped by 0.2% to $1.5735 in early London trading session on Tuesday. The U.K. currency recovers from the lowest point at $1.5675 on January 28, as the last time it was reached August 17. Market waits for the U.K. service data, which according to Bloomberg News will increase to 49.5, comparing with 48.9 in December. However, a
Indonesian gross domestic product advanced by 6.1% in last quarter of 2012 comparing with an year earlier, as the Central Bureau of Statistics announced in Jakarta on Tuesday. The actual number was slightly lower than a 6.2% estimation and it was the slowest growth pace in the last two years. The GDP eases its growth rate mainly due to a
The Shanghai Composite Index was higher by 0.2% to 2,433.13 points in Asian trading session on Tuesday. The index was in the highest level since May, 2012 and it is estimated at 13.40 times reported profit, the highest level since September, 2011. China's stocks increase for a seventh consecutive session, as the biggest property developer announced a jump in sales
Ore price increased by 0.7% to $154.20 per a dry ton on Monday, but estimations for 2013 are negative. Analysts say that the price might reach a $170 benchmark in the first half and after that plunge by 35% by the end of the year. Price may change so radically as China increases production, this in turn will cut import
The Nikkei 225 index fell by 1.9% to 11,046.92 points in the second part of Tokyo trading session on Tuesday. Equities slipped from a recent high, as yesterday the index closed in the highest point since April, 2010. Trading volume was above the 30-day average by 65%. Traders were pessimistic as Hitachi Ltd. and Fujikura Ltd. decreased their forecasts and
The common currency depreciated versus the Japanese Yen, following the biggest decline since June yesterday, on corruption accusation against Mariano Rajoy and uncertainty before Italian elections. The Euro lost 0.2% to 124.59 yen from yesterday, when it declined 1.4%. The shared currency slid 0.2% to $1.3488.
The Australian Dollar weakened versus all its major counterparts as the nation's central bank kept its key arte unchanged at 3%, the half-century low. The Aussie Dollar lost 0.4% to $1.04, and it dropped 0.4% to 96.06 yen, after trading at 97.08 a day earlier, the highest level since August 2008. According to the RBA's statement, the inflation outlook provides
Asian shares declined, pushing the regional benchmark index lower from the highest level in 18 months, on renewed worries about the Eurozone's debt crisis. The MSCI Asia Pacific Index fell 0.7% to 132.72 with almost 4 stocks declining for each that advanced. Australia's S&P/ASX 200 Index slid 0.4% after the RBA kept its key interest rate at 3%.
Farm commodities tumbled on Monday on speculation that expected rains in Argentina will boost crop prospects. Additionally, firmness in the US Dollar and concerns over ample global supplies dragged the commodity complex lower. Wheat retreated for the third session in a row after the USDA report showed the US wheat exports dropped 32% last week. Pushing wheat futures lower, US Great
Energy futures, excluding natural gas, dipped on Monday after disappointing US factory orders numbers sparked profit taking. Political instability in Spain coupled with firm US Dollar added pressure on the commodity group. At the same time, geopolitical tensions in the Middle East lent some support for energy prices. Crude oil declined on profit taking and solid greenback. Furthermore, a recent jump
Industrial metals apart from aluminum finished in the positive area on Monday despite weaker-than-expected US factory orders reading. US factory orders increased 1.8% in December, compared to forecasts of a 2.3% jump. Dampening market sentiment, political turmoil in Spain resurfaced after PM Mariano Rajoy faced allegations of corruption. Aluminum was the only loser amid broadly stronger greenback and disappointing US
Precious metals except for silver climbed on Monday, gaining inspiration from hopes the Fed will continue its easy monetary policy in the nearest future. However, solid US Dollar limited gains of the commodity complex. Gold continued to draw strength from expectations of stimulus measures by the central banks across the globe. Moreover, strong physical demand from Asia added to gains
German stocks plunged on Monday as market sentiment was dampened by political instability in Spain. Spanish PM and top officials of Popular Party faced calls to resign after allegations of corruption. Meanwhile, market players remained cautious ahead of the ECB press conference due on Thursday. The DAX Index dived 1.54% and is currently trading at 7,713.08. All industries included in