News

Fri, 21 Feb 2014 14:45:29 GMT

Dollar gains versus Yen on policy view

The Dollar advanced versus the Yen the most in a week during this year, on speculation the Bank of Japan will strengthen its bond-purchase policy while the Fed will continue cutting stimulus. The greenback rose against almost of its 16 major counterparts when the G20 supported the strengthening of monetary management in mature economies. The Dollar gained 0.1% to 102.41 versus the Yen, developing its

Fri, 21 Feb 2014 13:15:49 GMT

WTI crude gains as U.S. cold returns

West Texas Intermediate crude continues its six-week gain as cold spell in the U.S. strengthen heating fuels demand. Futures almost unchanged in NY and were up 2.2% is week. WTI for delivery in April fell 36 cents to $102.39 a barrel at 10:56 a.m. in London. The amount of all traded futures was around 51% lower than the 100-day average. Prices have climbed 4% during

Fri, 21 Feb 2014 11:01:40 GMT

Spanish exports to grow further amid economic recovery

The government of Spain upgraded its forecasts concerning growth of exports in 2014. As projected, the trade deficit of the country will plummet to 16 billion euro this amid 7% increase in exports, up from the previous expectation of 5.5%. Analysts confirm that economic recovery in Spain will be mainly based on improvement in trade, as domestic demand remains weak.

Fri, 21 Feb 2014 10:08:29 GMT

U.K. budget surplus falls as income taxes decrease

The government of the United Kingdom announced a worse-than-predicted budget surplus during the first month of this year amid declining revenue from company's profits and private incomes. Revenue was unchanged year-on-year, but spending rose 0.8%. This resulted in a 4.7 billion pounds surplus versus 6 billion pounds the year before. Analysts expected an 8 billion pounds surplus.

Fri, 21 Feb 2014 09:51:13 GMT

British retail sales drop on clothes and food

Retail sales in the United Kingdom decreased significantly in January of this year, putting the economic recovery under the risk. The indicator went down 1.5% month-on-month after a 2.5% rise in December. Analysts suppose that it could be a correction after a considerable surge. Meanwhile, the biggest drop was seen in sales of food and clothes – by 3.4% and

Fri, 21 Feb 2014 09:36:36 GMT

S&P lowers Ukrainian rating to CCC, outlook negative

The Standard & Poors rating agency decreased the sovereign credit rating of Ukraine to the pre-default level of CCC, which is eight stages below the lowest investment grade. Outlook for rating, in turn, remained negative. The reason below the decline is political instability in the country, which puts the government's ability to pay for its debts under a significant risk.

Fri, 21 Feb 2014 09:36:28 GMT

RBS to cut 25% of all jobs by 2017

The Royal Bank of Scotland Group plc, one of the largest banks in the United Kingdom, announced a plan of 30,000 job losses during next few years, mostly in investment-banking on Asian and U.S. markets. This amount accounts for 25% of all employees of the bank. Today, the RBS Group Plc shares are trading up 1.9% to 362.5 pence per

Thu, 20 Feb 2014 16:11:35 GMT

Производственная активность в Филадельфии неожиданно сократилась

Индекс деловой активности в производственном секторе ФРБ Филадельфии неожиданно упал ниже нейтрально отметки. Индекс опустился до -6.3 пунктов, вопреки прогнозам на снижение с 9.4 пунктов до 8.0 пунктов. Драйвером снижения индекса стало сокращение количества новых заказов и поставок из-за плохой погоды.

Thu, 20 Feb 2014 14:41:53 GMT

German shares retreat most in two weeks

German shares dropped most in approximately two weeks as the Fed minutes indicated that officials will continue with the stimulus cuts and as China's manufacturing most likely fell this month. The DAX Index slid 1.2% to 9,542.15 as of 2:11 p.m. Frankfurt time; however, it has gained 4.7% from its lowest level in February 5. The HDAX Index sank 1.2%

Thu, 20 Feb 2014 11:37:16 GMT

WTI oil drops from highest level in four months

West Texas Intermediate crude declined form a four-month high since October on China manufacturing that fell to the lowest level in seven months. WTI for April settlement slipped 0.4% to $102.45 a barrel on New York Mercantile Exchange, after trading at $102.65 at 10:40 a.m. in London. Brent for April delivery decreased 0.6% to $109.78 a barrel in London. 

Thu, 20 Feb 2014 11:36:56 GMT

Asian shares fall as China manufacturing index drops

Asian shares declined, with the benchmark MSCI Asia Pacific Index retreating, after China's manufacturing index fell more than expected. The biggest losers were ICBC that lost 2.7% and Naver Corp. that shrank 8.1%. The MSCI Asia Pacific Index decreased 1.2% to 136.01 at 4:09 p.m. Hong Kong time, after all 10 industries slipped. 

Thu, 20 Feb 2014 11:36:49 GMT

U.K. shares retreat after Fed minutes and Chinese manufacturing data

U.K. shares declined, with the regional FTSE 100 Index sliding for the first day after four day streak of gains, as Fed's minutes indicated that officials will continue with the stimulus cuts. The FTSE 100 dropped 0.6% to 6,757.58 as of 9:01 a.m. London time, reversing its advance to 0.1% this year. The FTSE All-Share Index fell 0.6%, while Ireland's

Thu, 20 Feb 2014 10:35:31 GMT

European shares fall as commodity producers decline

European shares fell for the first time in last five trading days after China's manufacturing data dropped for a second straight month and Fed's minutes indicated that they will continue with stimulus cuts. The Stoxx Europe 600 Index retreated 0.8% to 332.31 as of 9:43 a.m. London time; however, it has advanced 4.6% since February 4.

Thu, 20 Feb 2014 10:35:10 GMT

German production sector expands at slower pace

An increase in activity of the manufacturing sector in Germany slowed slightly in February of this year, pointing on possible instability of economic recovery in the region. The benchmark PMI Index fell to 54.7 points in February, still remaining higher than 50 points, which means an expansion. In January the index stood at 56.5 points and economists predicted a small

Thu, 20 Feb 2014 10:00:57 GMT

French manufacturing weakens despite positive expectations

Activity in the manufacturing sector of France decrease more than expected in January of the current year, as the benchmark PMI Index, which measures the activity level in this sector of country's economy, plummeted to 48.5 points from 49.3 points in January. Experts waited for a rise to 49.6 points. Meanwhile, the reading below 50 points indicates a decline in

Thu, 20 Feb 2014 10:00:50 GMT

Yen advances after Chinese factory output declines

The Japanese currency appreciated the most in last two weeks versus the greenback as investors speculated on safety of the Japanese Yen after China's factory output fell this month. The Yen added 0.4% to 101.88 per Dollar as of 9:47 a.m. London time, the biggest climb since February 3. Japan's Yen rose 0.7% to 139.57 per Euro after sliding to

Thu, 20 Feb 2014 10:00:12 GMT

Sterling depreciates for fourth day ahead of nation's retail data

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.

Thu, 20 Feb 2014 09:59:54 GMT

French inflation remained unchanged in January

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

Thu, 20 Feb 2014 09:59:39 GMT

Swiss trade balance climbs as exports rise and imports fall

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.

Thu, 20 Feb 2014 09:38:29 GMT

Chinese manufacturing declines as analysts call for more economic reforms

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

Thu, 20 Feb 2014 09:16:40 GMT

Japan trade deficit jumps on higher imports

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

Wed, 19 Feb 2014 16:09:29 GMT

Canadian shares advance for 11th straight day

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.

Wed, 19 Feb 2014 15:38:06 GMT

Gold declines from highest level in three months

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

Wed, 19 Feb 2014 15:37:52 GMT

German shares little changed ahead of Fed minutes

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.

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