The Eurozone's currency increased on Wednesday recovering from previous drops after a report showed that inflation in the euro-area accelerated by 0.7% in April cooling speculation that the European Central Bank may cut its benchmark interest rates further next week. The Euro rose versus the U.S. Dollar to a level of $1.3824 today.
Wall Street shares swung between gains and losses on Wednesday trading session after a government report showed that gross domestic product in the U.S. by less than expected in the first three months of this year. The benchmark index Standard & Poor's futures slipped 2 points, the Dow Jones industrial average futures lost 2 points and the Nasdaq Composite futures fell 10 points.
Daimler AG, the third biggest luxury car manufacturer in the world, announced a considerable 95% increase in profit for the first three months of this year, as EBIT reached 1.79 billion euros. At the same time, despite rise in sales, Mercedes cars division contributed only 7% to total sales, less than predicted at 10%. Today, Daimler AG shares drop 2.2%
The total number of people without a job in Germany declined considerably in April of the current year, as economy continues to show a gradual recovery. Unemployment decreased 25,000 this month, comparing with March data, while economists waited only for a 10,000 drop. At the same time, the seasonally adjusted jobless rate in the country remained unchanged at 6.7%.
Economic growth in Spain increased in the first quarter of this year, reaching as much as 0.4% on a quarterly basis, rising from 0.2% in the previous three months. Therefore, Spanish GDP advanced already for the third quarter in a row. All the data matched analysts' expectations. Year-on-year, economy of the country added 0.6% after a 0.2% decline in October-December
The Bank of Japan decided to keep the amount of asset purchases on previous levels, as board members expect that inflation level in the country will finally reach the target of 2% by the year 2016. Nowadays, the annual rise of the monetary base stands at 60-70 trillion yen. As predicted by BoJ economists, inflation will reach as much as
The British Sterling increased on Tuesday rising for the fourth successive day versus its U.S. counterpart and reaching the highest level in four years as investors speculate that the United Kingdom's growth may increase further. The Pound strengthened by 0.2% to $1.6841 by 4:10 p.m. in London following a jump to $1.6853 recorded yesterday.
Emerging-market equities increased on Tuesday trading session rising by the most in four weeks led by Russian shares gaining by 2.3% after the U.S. and European Union added more sanction on the Russian Federation. The MSCI Emerging Markets Index advanced as much as 0.8% to 1,001.16 by 10:23 a.m. New York time.
European bonds were little changed on Tuesday as investors speculate whether the European Central Bank introduce further monetary stimulus measures on the next week's policy meeting as inflation in the Eurozone stays low. Spanish benchmark 10-year yields traded at a level of 3.07% by 2:57 p.m. in London following a gain by five basis points, while Italy's 10-year notes were
The European benchmark Brent crude increased on Tuesday trading session as the U.S. and European Union put more sanctions on Russia and as stockpiles at Oklahoma's Cushing delivery point dropped according to a report released by the EIA. Brent for delivery in June jumped as much as 0.9% to a level of $109.14 per barrel on the London's ICE Futures
West Texas Intermediate crude increased on Tuesday trading session after European Union and the U.S. added more sanctions on Russian individuals and companies as the geopolitical crisis in Ukraine continues. WTI for settlement in June added as much as $1.11 to $101.95 per barrel as of 9:58 a.m. on the NYMEX.
U.S. Treasuries dropped on Tuesday trading session falling for the second successive day as the U.S. Federal Reserve begins its two-day policy meeting expected to bring further cut of its bond-buying program to $45 billion a month. The benchmark 10-year government bonds yielded one basis points higher at 2.71% by 10:20 a.m. in New York.
Retail sales in Italy slipped in the month of February falling for the third successive time and at a faster rate than originally expected, the latest figures revealed by the statistical office Istat showed on Tuesday. Italy's retail sales dropped by 1.0% in February after sliding by 0.9% in the previous month and decreasing by 2.6% in December.
Business confidence in Italy accelerated in April rising for the third successive month and maintained at the strongest level in almost three years, the latest report unveiled by the statistical office Istat showed on Tuesday. According to the report, the country's business sentiment index jumped from March's level of 99.3 points to 99.9 points in the following month.
Inflation measured as harmonized price index in the Europe's largest economy rose in April rising for the first month in five, however staying below economists forecast, the latest report unveiled by the statistical office Destatis showed on Tuesday. The German HICP accelerated by 1.1% on an annual basis in April after gaining 0.9% in the prior month.
Metropolitan areas home prices in the U.S. increased in February matching economists' expectations, the latest data revealed by the Standard & Poor's unveiled on Tuesday. According to the report, the S&P/Case-Shriller Home Price Index measuring prices in twenty biggest cities advanced 0.8% in February staying unchanged from the month before.
Consumer confidence in the world's largest economy declined in April, the latest report revealed by the Conference Board unveiled on Tuesday. According to the report, the country's consumer sentiment index slipped from a level of 83.9 points in March to 82.3 points in the following month, while it was seen to rising to 83.0 points.
Russian shares advanced on Tuesday trading session after the United States put more sanctions on the Russian Federation individuals and companies as the geopolitical crisis in Ukraine continues. The Russian benchmark stock index MICEX gained as much as 1.8%, while the U.S. Dollar-denominated RTS Index soared 1.1%.
The European currency was traded higher on Tuesday session rising against the U.S. Dollar and the Japanese Yen after the European Central Bank President Mario Draghi commented on current monetary situation in the Eurozone as inflation stays low. The Euro advanced as much as 0.1% to $1.3860 and it rose 0.3% to 142.37 yen.
The majority of European shares advanced on Tuesday session after some companies showed favourbale earnings reports and as the European Central Bank signaled that it may maintain its current monetary policy. The FTSE Eurofirst 300 Index gained 0.8% to 1347 points and the German benchmark index DAX rose 1.2% to 9558 points.
Wall Street opened higher earlier on Tuesday trading session after companies showed favourable earnings reports led by Merck & Co rising by 2.1%. The Standard & Poor's 500 Index added 0.23% to 1,873.68, the Dow Jones industrial average gained 0.19% to 16,480.33 and the Nasdaq Composite index traded 0.31% higher at 4,087.12.
Gold traded in New York dropped on Tuesday trading session falling for the second successive day trimming its monthly gain as investors stayed focused before the Federal Reserve began its policy meeting today. Bullion for delivery in June declined as much as 0.1% to $1,297.70 an ounce as of 10:08 a.m. on the New York's Comex.
The third largest car maked in the world, Volkswagen AG, increased its January-March profit by 22%, comparing with a year earlier, as Porsche income surged 22%, while Audi increased net profit by 0.5%. In total, the group ended the quarter with 2.86 billion euros EBIT. Today, the Volkswagen AG equities are increasing in price by 0.2% to 191.18 euro by
Deutsche Bank AG, the biggest investment bank in Europe, reported today a 34% decline in its quarterly profit for January-March period, as revenue from trading currencies dropped 10%. Net income reached 1.08 billion euros, which was a bit higher than expected by analysts. Today, Deutsche Bank AG shares are climbing 2.4% to 32.18 euro by 11:00 GMT in Frankfurt.