US stocks climbed after consumer confidence data

Source: Dukascopy Bank SA
© Scanpix/AFP
US stocks rebounded on Friday amid upbeat US data. US preliminary consumer sentiment surpassed forecasts this month, attaining five-year high. At the same time, fading hopes that a leadership change in China will result in more stimulus measures weighted down on US equities. Moreover, worries over looming US fiscal battles and Greek budget vote weighted down on the US shares. The S&P 500 Index edged higher 0.17% to close at 1,379.85. Seven in ten sectors jumped. The top-gainers were technology and telecommunication sectors. Apple and EMC added 1.73% and 0.21%, while Crown Castle International and MetroPCS Communications inched up 0.04% and 1.80%. Meanwhile, Precision Castparts climbed 0.66% after it has agreed to purchase Titanium Metals Corp. for about USD2.9 billion. At the same time, property developers dragged the US stock index lower. D.R. Horton shed 1.76% after projecting revenue of USD1.3 billion this year.

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Mon, 12 Nov 2012 14:06:46 GMT

Germany's wholesale price inflation inched to 11-month high

The Federal Statistical Office reported on Monday that wholesale price inflation increased its pace to the fastest in 11 months in October. The wholesale price index grew to an annualized 4.6% last month compared to a figure of 4.2% in the preceding month. Analysts, however, expected that prices would gain even more and the index would reach 4.9%.

Mon, 12 Nov 2012 12:44:41 GMT

Gold futures edged higher on Monday

Gold futures edged higher on Monday, November 12, reaching three-week high, amid growing uncertainty over Greek's bailout plan and U.S. fiscal woes. Gold for December settlement added 0.19% to $1,734.20 an ounce, after jumping 3.3% during the previous week. Other precious metals were mixed, as December silver rose 0.05% and January platinum soared 0.53%. On the contrary, copper and palladium with December contract eased up 0.02%

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