Europe's equity markets slipped into negative territory on Thursday, as Eurozone's finance ministers came up with no agreement during a key meeting on Greece's reform policies. The Stoxx Europe 600 Index fell 0.2% to 396.49 points, the Athex Composite Index declined 1.36% to 770.28 points, while the FTSE 100 Index slipped 0.3% to 6,825.31 points. However, the DAX 30 Index
South Korea's government announced that it cut its 2015 GDP growth forecast by 0.7% to 3.1%, while the inflation is expected to average 0.7% from the 2% previously projected. Consumer sentiment index declined to 99 in June from 105 in May, as MERS virus outbreak has severely depleted consumer confidence. In addition, the South Korean government disclosed a $14 billion
The July GfK forward-looking consumer sentiment index is to decline 0.1 points to 10.1 points from the 10.2 point expectation from surveyed economists, as the Greek debt crisis weighs on the German economy. GfK stated that currently Greece's default on its debt and exit from the Eurozone seems a genuine scenario, as talks continue between Greece and its debtors and the deadline
The Shanghai Composite Index gained 2.2% on the day and closed at 4576.49 points after it declined 4.8% intraday. The Chinese stocks have been hurt by high volatility and lower liquidity, as investors withdrew their stakes in existing equities and bought shares in recently listed companies. Declining investors' worries surrounding overvalued Chinese market fuelled a rebound from early day's losses.
European equities extended their gains on expectations that a deal between Greece and its creditors was taking shape. The Stoxx Europe 600 Index advanced 0.9% to 397.6 points, the DAX 30 gained 0.9% to 11,557.92 points, while the French benchmark CAC 40 increased 0.8% to 5,037.5 points. Moreover, the Athex Composite Index which jumped 9% during the previous trading session,
Oil price gained in early Monday morning, as investors have positive expectations about Greek debt negotiations, although the excess oil output proceeded to constrain oil prices. On NYMEX, WTI futures for July climbed 1% to $60.30 a barrel, while Brent crude for August delivery grew 0.7%, reaching $63.47 per barrel.
On Monday European equities soared, as investors anticipated that a deal between creditors and Greece could be reached soon. The Athex Composite Index jumped 8.3% to 730.55 points, the Stoxx Europe 600 went up to 392.39 points, by gaining 1.9%, while the German DAX Index increased 3.1% to 11,381.46 points. The French benchmark CAC 40 Index in turn gained 2.8%.
During the trading session in Asia, oil futures inched higher as investors' concerns decreased over Greece's debt negotiations. August crude futures nudged 8 cents to $63.1 a barrel from $62.58 when the markets opened. On Friday, oil prices declined almost 2% or $1.24 on worries of Greece's future in the Eurozone. In addition, analysts are concerned over international oil oversupply,
Majority of the markets in the Asia-Pacific region increased marginally, as investors waited for the results surrounding Greece's debt talks with its creditors. Nikkei 225 Index rose 0.8%, while Hang Seng Index increased 0.7% and Australia's S&P ASX 200 was up 0.2%, even though it was down 0.4% earlier in the trading session. Last week, the Shanghai Composite Index slumped 13%,
Saudi Arabia's crude oil outbound shipments slipped to 7.737 million bpd in April, which is 161,000 bpd lower than in March. Crude exports dropped slightly, as local refineries refined 315,000 bpd more than in previous month, when they processed 1.909 million bpd. In addition, in April, Saudi Arabia's oil production marginally increased to the highest output level to date, up
The Reserve Bank of India will issue government bonds linked to the gold price with ensured interest rate of at least 2%, in order to decrease the annual demand for physical gold coins and bars. The main reason is to lower the national trade deficit, since this precious metal adds up to the second biggest expense in imports after oil.
The positive UK's Retail Sales data raised the Pound through 1.59 against the US Dollar, which is the highest level since November 2014. The shared currency was sold off in the light of the Greece's negotiation issues with the creditors and therefore surpassed the level of 1.40 against the Sterling on Friday. GBP/AUD reached 2.0442, which is close to the
The benchmark Shanghai Composite Index closed Friday's trading session at 4,478.36 points, down 6.42% or 306.99 points from the previous close. A sharp sell-off occurred, as investors were alerted by worries about a possible bubble in China's equity markets. Investors and analysts believe that as a result of steep losses, the odds increase that the Chinese government will add further
UK retail sales grew 0.2% in May, better than the expectations of no change at all, but this is a slowdown following 0.9% in the prior month. April in Britain was unexpectedly warm, and this was a positive factor for clothing demand. On the contrary, in May the temperature was lower than normal, which has the opposite effect. Nevertheless, when
The Swiss National Bank held its interest rate at -0.75%, a record low, and emphasized readiness for further activity to diminish impact of the strong Franc. The Swiss currency rose 15% since the central bank abandoned the cap of 1.20 per euro in January. The economy is on the edge of the first recession in the last six years, and,
The Euro Zone escaped deflation as consumer prices rose in May 0.2% on a monthly basis and 0.3% year-on-year, confirming flash release. More expensive services, tobacco and food helped to offset the force of lower energies' prices. The European Central Bank expects inflation in the euro-sharing countries to increase to 1.5% in 2016 and to 1.8%, coming close to its
UK jobless rate remained steady at 5.5% during the past three months through April, at the lowest level since 2008, as the number of unemployed people fell by 43 thousand to 1.81 mil. In April alone, the rate went up to 5.7% from 5.5% in March. In the meantime, wages grew 2.7% and the improvement in the UK's labour market
German ZEW economic sentiment dropped in June to the lowest level since November, coming in at 31.5, substantially below 41.9 reported in the prior month. The Greek situation increases nervousness of the market, and slack in the global recovery is yet another external factor worsening the outlook for the German economy.
UK consumer prices increased in May by 0.1%, following a 0.1% fall in April. Core figure advanced 0.9%, slightly missing an estimate of 1.0%. Inflation in the UK still remains below the targeted 2%, and the BoE governor Mark Carney expects achievement of the bank's goal in 2016.
Car sales growth in Europe was the slowest in half a year in May, as purchases are postponed amid unemployment and sovereign crisis in Greece. The total amount of the sales rose 1.4% to 1.15 mil automobiles from 1.14 mil a year earlier. The increase was the lowest since November 2014, when the change was +1.2%. The European cars market
This week could be crucial for Greece as its Sunday's meeting with creditors failed after 45 minutes amid a significant gap remaining between international creditor's requirements and what the Greek anti-austerity government is ready to offer. Focus is now coming to June 18 when the meeting of the Euro group is scheduled. It may decide whether the Mediterranean country will
US retail sales climbed 1.2% in May, on a monthly basis, after the soft increase of 0.2% in the prior month, as labour market growth and cheaper gasoline prices supported spending. Automobile sales, clothing and stores for building materials gained the most last month. The retail sales excluding volatile sales of automobiles, which account for 20% of total sales, rose
Chinese fixed asset investment rose 11.4% in the January-May period of the year, in comparison with the same period last year. The significant driver of the China's economy grew at a slowest pace in almost 15 years, while retail sales increased 10.1% and factory output went up by 6.1% last month. Both rates of growth remained relatively steady compared to
Australian unemployment rate fell to 6% in May, from 6.1% in the prior month, as the number of employed people increased by 42,000, almost three times more than the forecast. The labour market seems to be very firm relative to insufficient domestic demand and plans of businesses for lowering investment next year, but slowdown in wage growth also supported employment.