The British currency fell for a fourth straight day against the U.S. Dollar ahead of tomorrow's U.K. retail sales data that are expected to decline. The Sterling slid 0.2% to $1.6652 at 8:31 a.m. in London, after slipping 0.4% in the last three days. The Pound was little changed at 82.24 pence per Euro, from 82.34 pence on Wednesday.
Inflation in France, calculated by using the common ECB methodology for all EU countries, remained with no changes in January of this year at a 0.8% level, while it was predicted to reach 0.9%. The CPI Index was also steady at 0.7% in January. The official data revealed that food prices were down 0.4% on the annual basis, while services
The positive trade balance of Switzerland unexpectedly surged twice more than predicted in January of 2014, exceeding the December data five times. The surplus advanced to 2.59 billion francs, up from 521 million francs in December. On the monthly basis, exports jumped 2.5%, however, imports slipped 2.3%. Also, the data showed a 5.6% increase in exports of watches.
Chinese manufacturing industry posted a more significant decline in February of the current year, as some economists say that structural reforms are necessary to reverse the negative trend. The benchmark PMI index from the HSBC bank dropped to 48.3 points this month from 49.5 a month ago. The reading below 50 points indicates decrease in activity in this sector of
The trade shortfall in Japan increased to a record number in January of this year, as imports' rise was higher than exports' advance. The Finance Ministry reported a 2.79 trillion yen negative balance of trade, more than 2.49 trillion yen forecasted by analysts. Exports rose 9.5% on the annual basis, while imports inched up 25%. The trade gap negatively influenced
Canadian shares gained for a eleventh straight day, prolonging the longest streak of gains in almost 20 years, as energy company advances offset losses among gold producers. The Standard & Poor's/TSX Composite Index added 0.2% to 14,108.49 as of 9:41 a.m. Toronto time. The regional benchmark index has soared 4.6% in last 11 days.
Gold dropped from the highest level in New York on bets of slowing demand ahead of the Fed's last meeting minutes release, while silver futures retreated after its longest rally in approximately 30 years. Gold for April delivery slid 0.5% to $1,317.30 an ounce as of 7:36 a.m. in New York, while the metal for immediate delivery slipped 0.3% to
German shares were little changed as Fed's minutes from the latest policy meeting were awaited by investors and as U.S. January's building permits were released. The DAX Index fell 0.1% to 9,648.18 as of 3:44 p.m. Frankfurt time; however, the equity-benchmark has advanced 5.8% from its lowest level on February 5. The HDAX Index decreased 0.1% today as well.
U.S. shares swung, after the Standard & Poor's 500 Index closed near its record high, as commodity producers' gains offset worries about emerging markets. The S&P 500 traded at 1,839.79 as of 9:41 a.m. New York time as Fed's minutes were awaited by investors. The Dow Jones Industrial Average dropped 0.1% to 16,126.90 today.
European shares dropped, snapping thee day winning streak, as some major companies slipped after U.S. officials failed to impose South Korea's anti-dumping duties. The biggest losers today were Tenaris and Vallourec that retreated more than 4.5%. The Stoxx Europe 600 Index fell 0.2% to 333.83 as of 1:56 p.m. London time and it has advanced 5.1% from its lowest level
U.K. shares retreated, snapping a three-day advance, as the Bank of England's meeting minutes and nation's unemployment data were released. The FTSE 100 Index slid 0.3% to 6,775 as of 2:03 p.m. London time. The FTSE All-Share Index fell 0.3%, while Ireland's ISEQ Index slipped less than 0.1% today.
The Japanese Yen gained for the first day out of last three versus the greenback as Japanese and European shares retreated. The Yen added 0.5% to 101.88 per Dollar at 8:31 a.m. New York time, after falling 0.4% yesterday. The Japanese currency climbed 0.5% to 140.10 per Euro. The U.S. Dollar traded at $1.3749 per Euro after slipping to $1.3773,
Madrid, the region of Spain with the smallest budget deficit in the country, is planning to sell more bonds this year amid higher demand from investors, as they return to periphery markets of Europe due to economic recovery. At the moment 10-year bonds are traded at the yield of 4.02%. This year, Madrid considers borrowing 60% of money via bonds
The government of China decreased its holdings of the U.S. debt at the highest pace since December 2011, as the Fed released its plans to cut asset purchases. The world's second-largest economy cut its Treasuries' holdings by $47.8 billion in December 2013 to $1.27 trillion. Meanwhile, international investors raised their holdings, pushing the total amount to $5.79 trillion.
Carlsberg A/S, the fourth-largest brewer in the world, announced its earnings for the October-December quarter of the previous year. EBIT increased to $428 million, beating analysts' estimates. In Russia, however, the company is the biggest brewer and this market accounts for 25% of total sales. Carlsberg A/S shares are surging 6.1% to 579.5 Danish kronor by 10:25 GMT in Copenhagen.
Chinese government would like to see a 9.5% growth in manufacturing production in 2014. At the same time, the pace of increase will decline slightly from 9.7% during the previous year. The manufacturing sector of China contributes a lot to the overall GDP rise in the country, as the economy advanced 7.7% in 2013, which was higher than expected by
All nine policymakers of the Bank of England voted against any increase in interest rates this month, underlining the need to stimulate economic growth, while the unemployment rate still remains above the 7% target mark. Moreover, the BoE officials said that they will continue to support economy, even if the rate falls below 7%, as they want to be sure
Unemployment rate in the United Kingdom rose unexpectedly in the last quarter of the year 2013, reaching 7.2% versus 7.1% in September-November. Analysts expected no changes in the indicator. Meanwhile, the total number of claims for unemployment benefits dropped 27,600 in January, which was much more than analysts predicted at 18,300 after a 24,000 decrease in December.
Wages in Australia registered a 0.7% increase in the last quarter of 2013 on a quarterly basis, beating economists' forecasts at 0.6%. In Q3, wages rose 0.5%. Year-on-year, salaries surged 2.6% in October-December quarter. At the same time, the pace of increase reached the lowest in 17 years. The highest wages' advance of 3.3% was noticed in gas, electricity, waste
Japanese all industry activity decreased surprisingly in December of the previous year, losing 0.1% on a monthly basis after a 0.4% rise in November. Meanwhile, the indicator declines already for the second time in three months. Construction activity dropped 0.7% and service sector slipped 0.4%. At the same time, manufacturing advanced 1%, while government services jumped 0.5%.
Emerging markets shares retreated on Tuesday trading session after the People's Bank of China revealed its decision to drain funds from region's banking system and as Turkey's equities lost before the local central bank revealed rate decision. The MSCI Emerging Markets Index fell 0.2% to 962.26 by 10:34 a.m. London time after rising in the previous two sessions.
The British Sterling weakened on Tuesday falling from the strongest level in a four-year period against its U.S. counterpart after a government report showed that inflation in the United Kingdom eased below the BoE target. The Pound lost as much as 0.3% to $1.662 as of 10:05 a.m. in London following a climb to $1.6823 recorded yesterday.
Gold traded in London declined on Tuesday trading session falling from the strongest level in over three months amid speculation that recent gain of the precious metal may reduce physical purchases of the bullion. Gold for settlement in February slipped 0.7% to $1,319.42 an ounce as of 9:10 a.m. London time after it recorded the largest level since October 31
Wall Street shares were little changed earlier on Tuesday session with the benchmark stock index Standard & Poor's 500 capping its biggest weekly gain this year before a report showed that manufacturing in the New York area rose. S&P 500 futures with March settlement fell 0.1% to 1,833.3 as of 10:44 a.m. London time, while the Dow Jones industrial average