Hong Kong stocks erased some of the previous losses on Friday after Angela Merkel supported the ECB actions, easing concerns over the crisis in the Eurozone. Additionally, speculation that the POBC is preparing to loosen its prudent monetary policy boosted market sentiment. The Hang Seng Index gained 0.77% to close at 20,116.07. Seven out of nine sectors included in the
Euro area's foreign trade surplus rose in June, Eurostat reported on Friday. The trade surplus expanded to EUR 14.9 billion in June, compared to EUR 7.1 billion in preceding month. In the same period of 2011 the balance showed a EUR 0.2 billion surplus. Exports surged 12% on year to EUR 161.5 billion, while imports rose 2% to EUR 146.6
A leading index of the French economy dropped for the third straight month in June amid negative evaluation of the employment situation and of new orders in manufacturing, the Conference Board said on Friday. The leading economic indicator fell 0.3% to 113 points in June, after declining 0.2% each in the preceding two months.
Japan's government estimates the nominal economic expansion to top real growth in fiscal 2013, the first time since 1977, and awaits a deflation to end. The government expected real growth of 1.7% in the economy for the fiscal 2013, lead by a forecast expansion of 2.2% in the fiscal 2012. The real GDP corresponds with the BoJ estimates. The latest
The Nikkei 225 Index soared by 0.77% to end the week at 9,162.5 amid hopes for easing in China. Sending Japanese equities higher, Angela Merkel said on Thursday that she supports the ECB actions and will put any efforts necessary to preserve the Euro. Japan's stocks also found support on positive headlines from the US. Meanwhile, softer Yen helped exports
The Dow Jones Industrial Average Index jumped by 0.65% to end the Thursday's session at 13,250.11. Signs of recovery from the US real estate market coupled with Angela Merkel's comments regarding the ECB actions sent US blue chips stock index higher. However, disappointing manufacturing data from Philadelphia-region created pressure on the US stocks. Seven out of nine industries within the
US stocks rallied on Thursday amid upbeat US property market data. The number of building permits issued in the US reached four-year peak in July. Adding to gains of the US equities, Angela Merkel approved ECB actions aimed at combating Eurozone's debt crisis. Germany's Chancellor also pledged to do whatever it takes to preserve the single currency. The S&P 500
Eurozone's Current Account surplus rose to seasonally-adjusted EUR12.7 billion in June, compared to EUR10.3 billion in preceding month, the ECB reported on Friday. Economists predicted a surplus to decline to EUR7.8 billion. Non-adjusted euro area Current Account surplus moved from a EUR3.2 billion in May to a EUR15.7 billion in June.
Asia's stocks climbed, with the region's benchmark index heading for its third weekly rise, as U.S. housing permits surged to the highest level in four years, weakening concerns about the depth of a global slowdown. The MSCI Asia Pacific Index gained 0.3% to 120.86. Almost five stocks rose for every three that dropped on gauge, set for the longest weekly
Most Europe's stocks increase, lead by the Stoxx Europe 600 Index set for its 11th straight weekly gain, as investors expected reports on U.S. consumer sentiment and leading economic indicators. The Stoxx 600 advanced 0.1% to 271.54, with three shares gaining for each one that dropped. The benchmark gauge is set for a 0.6% rise this week, prolonging the strongest
New Zealand's PPI rebounded in the second quarter on rise in electricity prices, Statistics New Zealand said on Friday. The output PPI rose 0.3% on quarter on June, after a 0.1% drop in a preceding quarter, despite economists' estimate of a 0.2% decline. The input PPI increased 0.6% on quarter, compared to a 0.3% surge in the first quarter.
Emerging-market stocks climbed as U.S. housing permits rose in July to the highest level in four years, easing concerns of decreasing FDI in China. The MSCI Emerging Market Index added 0.2% to 975.82. Brazil's Bovespa stock index climbed to a 3-month high, gaining 2.2%.
German 10-year Bunds prolonged the biggest weekly fall in August after most Asia's stocks gained and European equity futures rose. The 2-year security yield was negative for the 31th consecutive day, trading at -0.033%. The 10-year bond yields advanced less than 0.01% to 1.53%. The 1.75% note due Jule 2022 was at 101.995.
Gold is poised to rise for a third day, cutting a weekly drop, on belief China's and U.S governments may step up efforts to boost growth. Platinum climbed to a five-week high amid production interruptions at a South African mine. On Friday, immediate-delivery gold gained 0.2% to $1,618.05 per ounce. Spot platinum traded at $1,446, after rising 0.6% to $1,450,
Sweden's jobless rate fell on year in July, the Public Employment Service said Friday. The rate dropped to 4.6% in July, compared to 4.7% in the same period last year. Meanwhile, the number of unemployed rose to 214,101 from 211,172 a year earlier. A total of 378,033 people, 8.1% of the labor force, were registered as jobless or participated in
Rural commodities were mixed on Thursday as drought continued to rage in the US and Russia, weighing down on potential crops. Meanwhile, better weather conditions in India and Brazil are expected to improve harvest of coffee and sugar. Wheat posted the largest gain in almost two weeks as Austrian and Russian harvests are likely to be much lower than estimated amid
Energy commodities except for natural gas moved higher on Thursday amid weaker greenback and strong US economic data. Brighter demand prospects and tightening supplies also boosted energy prices. Crude oil was higher after Angela Merkel backed up the ECB steps aimed at tackling debt crisis in the Eurozone. Hopes for easing in China also sent crude oil futures up. Brent oil advanced
Base metals apart from zinc advanced on positive data from the US real estate market. US building permits reached four-year high in July. Moreover, eased worries over the Eurozone's crisis and hopes for easing in China supported the industrial metal's pack. Aluminum rebounded on optimism over the Eurozone as Spanish banks will soon be bailed out. Moreover, Angela Merkel pledged to
The Ruble strengthened against the U.S. Dollar as crude, nation's main export, traded at three-month high. The Ruble gained 0.2% to 31.8900 per U.S. Dollar, the highest since August 6. Crude climbed for a third day, rising as much as 0.8% to $95.14 per barrel, the highest close in three months. Natural gas and oil make up 50% of Russia's
Precious metals rallied on Thursday after Angela Merkel announced that Germany will do everything possible to preserve the Euro. Angela's Merkel comments boosted market sentiment and sent US Dollar lower, thus supporting precious metals. Gold jumped on the greenback's weakness and optimism over the Eurozone's debt crisis. However, the rally was capped after the WGC reported that global gold consumption tumbled
German Chancellor Angela Merkel supported the ECB's approach to decrease borrowing costs in ailing economies. Merkel,returning to the crisis fight after summer vacation, used her trip to Canada to make first comments on the European troubles in a month. Chancellor recognized Canada's debt and budget discipline as a role model for Eurozone.
The Euro almost touched 6-week high against the Japanese Yen as Germany endorsed the ECB's approach to address the sovereign debt crisis. The Euro traded at 97.99 yen from 98.04 the day before, when it reached 98.18, the highest since July 6. The Euro is set to climb 0.5% against the U.S. Dollar this week, the most since July 27.
German Producer Price Inflation weakened to 0.9% in July from 1.6% in preceding month, the Federal Statistics Office reported on Friday. Analysts predicted a reading of 1.2%. In 2011 the rate was 2.1%. On monthly basis, the PPI held unchanged despite forecast for a 0.3% increase. In June, the index dropped 0.4%.
Oil dropped after a three-day rally, cutting a third weekly rise in New York amid speculation its climb to a three-month high was not reasonable. On Friday, futures declined 0.7%, after a 1.4% gain yesterday to $95.60 per barrel, the highest since May11. September-delivery oil slid to $94.98 per barrel. Brent October-settlement crude slipped 1.2% to $113.90 per barrel in