Positive trade balance in Germany reached a record number in 2013, showing the largest positive number in the history of compiling data for trade. Surplus for 2013 rose to 198.9 billion euro versus 189.8 billion a year ago, while exports fell 0.2% and imports dropped 1.2%. During December, surplus was 18.5 billion euro, as exports posted a 0.9% decline and
Gross reserves in South Africa shrank on a monthly basis in January mainly reflecting the U.S. Dollar appreciation versus the major currencies, a report revealed by the South African Reserve Bank showed on Friday. According to the report, the country's gross reserves fell from December's level of $49.58 billion to January's $49.35 billion.
Wall Street shares closed higher on Thursday session recording their largest gain in a day so far this year after a report showed that jobless claims in the country declined boosting a confidence in the overall economic situation. The Dow Jones industrial average added 1.22% to 15,628.53, the Standard & Poor's 500 Index gained 1.24% to 1,773.43 and the Nasdaq
Foreign trade deficit in France declined significantly in December of the previous year amid stronger than predicted exports, which rose 3.5%, in comparison with an imports' rise of 1.9%. Negative balance reached 5.21 billion euro, which is less than 5.67 billion euro a month ago. At the same time, on the annual basis the decline of the deficit was registered
The U.S. Dollar weakened on Friday before a government report showed that the U.S. non-farm payrolls increased by 185,000 in January suggesting that the local economy is improving. The so-called Greenback slipped to $1.3619 and shed 0.1% to 102.03 yen, while the U.S. Dollar index measuring its performance against most-traded peers fell to 80.885.
The majority of Asian shares increased on Friday session rebounding from the lowest level in five months recorded on Wednesday before a government report showed that the U.S. payrolls gained suggesting that the U.S. economy gathered its momentum back. The MSCI Asia-Pacific Index outside Japan advanced 0.8% following a 2.2% drop recorded in the previous session.
Gold gained toward the highest level in five days in New York as investors speculated on the U.S. stimulus outlook on worries economic expansion may slow. The yellow metal for April delivery rose 0.3% to $1.260.50 an ounce as of 8:15 a.m. in New York. Bullion for immediate delivery advanced 0.2% to $1,260.82.
The total number of claims for unemployment benefits in the United States decreased considerably during the week ended on February 1, reaching 331,000. Analysts expected them to fall to 335,000. At the same time, the indicator for the week before was revised negatively to 351,000. Analysts say that slump in claims shows that employers become more confident about economic situation.
The Governing Council of the ECB decided to maintain the current monetary policy and implement no changes, despite the fact the inflation level decreased significantly during several previous months. The benchmark refinancing rate was kept at 0.25%, while the deposit rate was unchanged at 0%. Therefore, the results matched the majority of economists' expectations.
On Thursday, the Bank of England decided to keep the monetary policy in the country unchanged, despite a significant decrease in unemployment during last months, which fell close to the key level of 7%. The BoE kept the benchmark interest rate at 0.5% today, while bond purchases remained at 375 billion pounds. Probably, the BoE will wait for a more
The British currency reached the lowest level in three weeks versus the 18-nation currency ahead of Bank of England interest-rate decision on bets that officials will leave borrowing costs low. The Sterling slid 0.1% to 83.03 pence per Euro as of 11:07 a.m. in London, after falling to 83.34 on Wednesday. The Pound slipped 0.1% to $1.6294 after declining to
German shares rose, with the regional benchmark DAX Index bouncing off from the lowest level in seven weeks, as major companies as Daimler AG reported better than expected fourth-quarter profit. The DAX added 0.3% to 9,145 as of 9:53 a.m. Frankfurt time, snapping a four-day streak of losses. The HDAX Index climbed 0.4% today as well.
U.S. stock-index futures gained, indicating that equities will rise for a second straight day, as earning releases of major companies and jobless claims were awaited by investors. The Standard & Poor's 500 Index futures expiring in March added 0.5% to 1,752.8 as of 11:04 a.m. London time. Dow Jones Industrial Average contracts rose 0.5% to 16,436 today.
The total number of factory orders in Germany surprisingly fell in December of the previous year, as domestic demand weakened, showing that investors in Europe are still not confident about sustainability of Eurozone's recovery. Orders, including inflation and seasonal factors, were down 0.5% on a monthly basis after a 2.4% jump in November. Economists waited for a 0.2% rise.
Commerzbank AG, the second biggest bank in Germany, said on Thursday that it sold non-performing mortgages in Spain with a total amount of 710 million euro, as the bank wants to decrease risky assets by 600 million euro and issue 20 million euro of new capital. Stock prices of Commerzbank AG are picking up 2.9% to 13.04 euro per share
Vodafone Group Plc, the largest telecommunications company in the U.K., announced a 4.8% decrease in revenue for the Q4 to 9.8 billion pounds, while analysts predicted the indicator to decline 4.9%. More negative results in Europe were balanced by growth in Africa and Asia. Today, Vodafone Group Plc shares are rising 2.7% to 221.75 pence per share by 11:30 GMT
Volvo AB, the second-largest truck manufacturer in the world, plans to increase the previously planned job cuts from 2,000 to 4,400, as the company wants to bring annual savings to 4 billion kronor, starting from 2015. The reorganization will cost the company about 5 billion kronor. On such news, Volvo AB stocks are jumping 4.3% to 89.20 kronor per share
Deutsche Bank AG, the biggest investment bank in Europe in terms of revenue, will announce a second consecutive year of limits for cash bonuses, as European banks are asked to maintain more responsible payouts policy to avoid financial problems. The cap will probably reach 300,000 euro. Today, Deutsche Bank equities are rising 1.8% to 35.70 euro by 11:15 GMT in
Credit Suisse Group AG, one of biggest banks in Switzerland, announced its Q4 financial results that missed economists' predictions, as the bank a saved more money to pay for legal issues, namely 514 million francs. The net income totaled 267 million francs versus a 398 million francs average estimate. Today, Credit Suisse Group AG shares are dropping 1.2% to 26.72
U.K. shares rose for a second straight day as interest rate decisions were awaited from the Bank of England and the European Central Bank by investors. The FTSE 100 Index gained 0.8% to 6,511.61 as of 11:20 a.m. London time; however, it has declined 5.7% since January 20. The FTSE All-Share Index added 0.68%, while Ireland's ISEQ Index climbed 1%
Natural gas traded in New York increased on Thursday session before a government data revealed that inventories in the U.S. declined last week exceeding the five-year average notable as cold weather in the U.S. stays at the beginning of February. Natural gas for settlement in March gained 4.4% to $5.253 a million British thermal units on the NYMEX and was
The European benchmark Brent crude traded in London increased on Thursday after the Energy Administration Department showed in a report that stockpiles in the world's largest oil consumer, U.S., rose by 505,000 barrels in the week ended on January 31. Brent for delivery in March added 13 cents to $106.38 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil were little changed on Thursday trading session fluctuated near the highest figures in a three-day period after a government report showed that inventories in the U.S. shrank as demand rises. WTI for settlement in March rose as much as 20 cents to $97.58 per barrel on the NYMEX by 3:45 p.m. Singapore time.
Treasuries has declined this week and become the worst-performing bonds in the week starting on February 3 after recording a rally in January before Friday's report showing that payrolls in the U.S. increased after recording a drop the week before. The benchmark 10-year government bonds yielded at 2.67% as of 8:08 a.m. London time.