German shares extended pervious gains on Friday ahead of the key economic data releases from the US. Rally of Asian equities and recent ECB decision also boosted German stocks. Adding to the positive mood of German equities, national industrial production advanced more-than-expected last month. German DAX Index gained 0.87% to trade at 7,231.10. All but one sectors included in the
UK stocks pared gains on Friday ahead of the US payrolls data. UK shares continued to draw strength from the recent ECB decision regarding unlimited short-term debt purchasing program. Adding to the gains of the UK stock index, national manufacturing production rose more-than-expected in August. The FTSE 100 Index advanced by 0.20% to trade at 5,788.13. Only four in ten
Hong Kong stocks soared on Friday after the government unveiled its plan to build more roads. The announcement raised speculation that the government will embark on stimulus measures. The results of the ECB press conference also spurred rally in Chinese equities. The Hang Seng Index skyrocketed 3.09% to end the week at 19,802.16. All economic sectors included in the index
U.K. industrial production tumbled 0.8% on year in July, after a 3.8% decline in June, National Statistics reported on Friday. Economists estimated a 2.8% decrease. It added 2.9% on month in July, after a 2.4% fall in June and exceeding forecasts of a 1.5% rise. U.K. manufacturing production dropped 0.5% on year, after a 4.3% slid in June, above estimates
Japanese equity market faced a boost after the ECB announced a bond-purchasing plan to ease debt pressure in the region. Positive data from the US services industry and labour market also lifted Japanese stocks. Meanwhile, market players remained focused on US non-farm payroll data due later in the day. The Nikkei 225 Index soared 2.20%, halting two-week decline and consolidating
Austria's trade deficit widened to EUR 641.79 million on year in June from EUR 596.3 million in 2011, Statistics Austria showed on Friday. Exports rose 2.9% on year, while imports surged 3.2%. During the first half of 2012, exports were 1.6% up from a year earlier and imports grew 1.1%. The trade gap contracted to EUR 3.27 billion from EUR
The Dow Jones index surged on Thursday after long-awaited results of the ECB press conference. The ECB stated that it would buy short-term debt to cut borrowing costs of the indebted members in the Eurozone. Upbeat data from the US jobs market and services industry buoyed the US blue chips. The US services sector activity expanded faster than forecast last
German enterprise insolvencies tumbled 6.1% on year to 2,367 in June, Destatis said on Friday. In total 12,634 insolvencies were recorded in June, falling 1.6% from the preceding month. During the first half of the year corporate insolvencies slipped 3.1%, while consumer insolvencies slid 3.9%.
US stocks skyrocketed on Thursday after the ECB unveiled its new short-term debt purchasing program to ease crisis pressure in the Euro area. Positive data from the US labour market also boosted market sentiment. US initial jobless claims dropped more than expected last week while non-farm unemployment tumbled much more than forecast last month. The S&P 500 Index reached its
Rural commodities were mixed on Thursday, with grains rebounding and coffee and sugar slumping. Broadly weaker greenback pushed farm commodities higher. Meanwhile, market participants remained focused on weather forecasts in the US, Brazil, India and Russia. Wheat rallied after, Australia, the second-largest global exporter, announced that wheat harvest may miss government estimates as dry weather harmed crops. Corn advanced on speculation
Energy commodities apart from natural gas climbed on positive news from the US labour market and larger-than-expected decline in the US crude oil inventories last week. New anti-recession measures announced by the ECB also boosted the commodity group. Crude oil spiked after the US stockpiles report. The US crude oil inventories dropped by 7.4 million barrels compared to forecasts of a
Base metals were mixed after long-awaited ECB decision to purchase an unlimited amount of short-term debt to cut borrowing costs of peripheral Eurozone's nations. However, the ECB lowered its expansion estimates for Euro area, thus pushing growth-sensitive commodities lower. Aluminum posted a mild gain, balancing between the ECB decision and Euro area growth forecast cut. Meanwhile, persistent surplus in the market
Malaysia's export unexpectedly fell in July from a year earlier, whereas imports rose more than expected, according to the Department of Statistics. Exports declined 1.9% annually, comparing to a 3.5% rise forecast. A slowdown of economic activities in China, Korea, India and the EU contributed to decreasing exports to the markets in July.
The French trade gap narrowed more than forecast in July, lead by a significant drop in imports, the Directorate General of Customs and Excise said on Friday. The deficit tumbled to EUR 4.27 billion from EUR 6.06 billion in the previous month. Economists expected a slid to EUR 5.85 billion. Exports surged to EUR 36.58 billion in July, while imports
The SNB's foreign reserves reached 71% of annual output in August, with a slower pace of growth adding signs that less central bank action was necessary to enforce its ceiling of 1.20 Swiss Francs per Euro. The SNB's foreign exchange reserves rose to 418.430 billion Swiss Francs from 408.605 billion in July, preliminary data from IMF showed on Friday.
Japan's leading economic measure slipped for a fourth straight month in July, the Cabinet Office posted preliminary data on Friday. The leading index declined to 91.8 from 93.2 in June. Economists estimated a decrease to 91.6. Meanwhile, the coincident index fell to 92.8 and lagging index slid to 86.3 in July.
Asian stocks rose after the ECB President unveiled the unlimited bond-buying programme and China stepped up stimulus measures. The MSCI Asia Pacific Index gained 1.9% to 118.08, set for the biggest advance since June 29. The Shanghai Composite Index rose 4.2% and Hong Kong's Hang Seng Index gained 2.4%. Japan's Nikkei 225 Stock Average climbed 2% and South Korea's Kospi
Precious metals surged after the ECB press conference on Thursday. The ECB left the benchmark interest rate unchanged at record low level of 0.75% and agreed on unlimited bond-purchases plan. Moreover, safe-haven appeal of the commodity group escalated after the ECB downgraded Euro area growth forecast for 2012 and 2013. Gold advanced, following the Euro rally against the US Dollar and
The Canadian Dollar advanced to more than 4-month high against the U.S. counterpart on data that might show North American employment growth is accelerating and following the ECB's bond-buying plan announced yesterday. The Loonie gained 0.8% to 98.27 cents per greenback. It fetched 98.09, the highest since April.
Asian currencies headed for a third-weekly gain as the ECB announced its bond-buying programme to tame the Eurozone's debt crisis, boosting rally in global equities. The Korean Won fetched a 3-week high as Fitch Ratings increased the country's credit rating to AA- yesterday. The Chinese Yuan set for a sixth week advance on speculation the nation's government will increase spending
The U.S Dollar and Japanese Yen stayed lower following a yesterday decline versus most of their major peers after the ECB announced its new bond-buying scheme, which weakened demand for safe haven assets and boosted equities. The Dollar remained lower versus higher-yielding peers before the monthly jobs report release. The greenback fetched $1.2636 per Euro. The Yen was at 99.76
German shares surged on Thursday after the ECB press conference. The ECB left the benchmark interest rate at record low level of 0.75% and unveiled details regarding unlimited bond-purchasing program. Sending German stocks higher, the country's factory orders advanced more-than-expected in July, jumping from June's drastic decline. The DAX Index rallied 1.31% to trade at 7,102.40. All sectors included in
UK shares are trading in the positive territory on Thursday after news that the ECB agreed on unlimited bond purchases to gain control over the interest rates in the Eurozone. Capping the upswing of the UK equities, the Bank of England left key interest rate unchanged and announced no changes in the asset-purchasing program. Moreover, the OECD reported that it
Hong Kong equities jumped on Thursday amid hopes that policymakers will embark on stimulus measures. Meanwhile, market participants were cautious ahead of the ECB press conference due later in the day. The Hang Seng Index gained 0.34% to close at 19,209.30. Six out of nine economic sectors included in the index surged. The top-gainers were technology and consumer goods. Tingyi