U.S. shares closed lower on Monday session after the country's government reported that service industry eased in the last month of 2013 and new orders in manufacturing rebounded in December. The Dow Jones Industrial average slipped 44.89 points to 16,425.10, the Standard & Poor's 500 Index shed 4.60 points to 1,826.77 and the Nasdaq Composite index lost 18.226 to 4,1113.681.
The majority of Asia's stocks dropped on Tuesday trading session falling towards the lowest level in four months as the U.S. Dollar increased earlier today after it slipped overnight on data showing that service sector in the U.S. slowed down raising concerns about the nation's recovery. The MSCI broadest Asia-Pacific Index outside Japan lost 0.6% adding to Monday's 2.4% decline.
Car sales in Australia dropped a record 15% during the previous year, while the biggest car manufacturers in the country, General Motors and Ford Motor Company, announced closures of its plants in Australia by 2017. Currently, the car industry in the country employs more than 42,000 workers, while sales' decrease of Australia-made cars by 41% since 2006 may lead to
Head of the U.K. Treasury George Osborne announced on Monday that it will be necessary to cut additionally 25 billion pounds in welfare spending after the 2015 election, as the upcoming reduction in taxes will have a negative effect on the budget. At the same time, the government coalition partners, Liberal Democrats, disagree with such a decision and will oppose
Activity in the service sector of the U.K. unexpectedly slowed down in December of this year, however, the overall business optimism remained quite high. The benchmark PMI Index, which measures the activity in this sector, slipped to 58.8 points in December versus 60 a month ago. At the same time, the business confidence in the country hit the highest level
Gold rose to a three-week high amid speculation that metal's biggest annual retreat in 32 years raised its demand in Asia. The yellow metal for immediate delivery added 0.7% to $1,245.75 an ounce, making it the highest level since December 17, and was at $1,243.84 as of 11:21 a.m. Singapore time. Bullion had its biggest climb in three months last
German shares gained for a second straight day after Eurozone's service-industry expanded for a fifth straight month in the 18-nation area. The DAX rose 0.4% to 9,467.93 as of 12:33 p.m. Frankfurt time, after declining 1.6% previous week; however, the gauge jumped 25% last year as the ECB left its interest rates low. The HDAX Index climbed 0.3% today.
U.S. stock-index futures were little changed ahead of U.S. services and factory orders data release that will help to understand the strength of nation's economy. Standard & Poor's 500 Index futures expiring in March gained 0.2% to 1,829.5 as of 7:32 a.m. New York time, while Dow Jones Industrial Average contracts climbed 0.2% to 16,438.
European shares were little changed ahead of services-industry data in the U.S. and as Chinese non-manufacturing index fell. The Stoxx Europe 600 Index advanced less than 0.1% to 327.80 as of 1:24 p.m. London time and it has gained 5.8% from its December 13 low. The equity-benchmark jumped 17% previous year as central banks left interest rates low.
The Euro declined the most versus the greenback in two months on speculation that its six-month advance will end even as there were positive reports for European economy. The 18-nation currency added 1.2% to $1.3589 today, after rising to $1.3893 on December 27, the highest level in two years, while the Yen rose 0.6% to 142.48 per Euro.
The British currency depreciated for a third straight day versus the greenback after U.K. services growth slowed surprisingly in December. The Sterling slid 0.3% to $1.6376 as of 12:32 p.m. in London, after reaching $1.6603 on January 2, the strongest level in two years. The Pound declined 0.4% to 83.06 pence per Euro after touching 82.71 pence on January 2,
Australian Dollar appreciated versus majority of its most-traded counterparts ahead of nation's trade and retail sales data that are coming out later this week. The Aussie traded 89.46 U.S. cents at 5:03 p.m. Sydney time, after it was at 89.45 on January 3, while it added 0.2% to NZ$1.0838. The Kiwi slid 0.2% to 82.56 U.S. cents and slipped 0.7%
The Japanese Yen gained to the highest level in two weeks versus the greenback on a Chinese services slowdown and a decline in Asian shares. Japan's currency added 0.3% to 104.60 per Dollar as of 7:01 a.m. New York time, after strengthening to 104.08 last week. The Yen rose 0.1% to 142.29 per Euro, while the Euro appreciated 0.1% to
Business activity in Italy's private sector declined in December falling for the second successive month, however the rate of drop was lower than in the previous month, the latest report revealed by Markit Economics and ADACI showed on Monday. The Italian service sector purchasing managers' index recorded 47.9 in December after falling to 47.2 in the prior month.
Spanish service industry accelerated in December rising at the fastest pace since July 2007 led by improved business activity and new orders, a data unveiled by Markit Economics revealed on Monday. According to the report, Span's Business Activity Index added from November's 51.5 points to a level of 54.2 in December, the second consecutive reading above 50.
Shares in the United Kingdom were little changed on Monday with the local benchmark index recording its first weekly drop in a three-week period before an industry report showed that the U.K. service sector accelerated last month. The London's FTSE 100 advanced 7.59 points to 6,738.26 by 8:40 a.m. London time with three stocks rising for every two falling.
German equities declined on Monday after recording a weekly drop last week before a report showed that service sectors in the 18-nation bloc and the U.S. increased in the last month of 2013. The local benchmark index DAX shed 0.3% to 9,409.19 as of 9:55 a.m. Frankfurt time following a drop totaling 1.6% last week.
The British Sterling weakened on Monday trading session falling for the third straight day against the U.S. Dollar after the Bank of England Chancellor George Osborne claimed that spending cuts are necessary to tax reductions. The Pound slipped 0.4% to $1.6352 as of 7:58 a.m. in London following an increase to $1.6603 on January 2, the most since August 2011.
Service sector activity in Ireland advanced in the last month of 2013 mainly due to a notable increase in new business suggesting that local economic conditions have improved, a report released by the Markit Economics unveiled on Monday. According to the report, the country's Business Activity Index rose from November's 57.1 to 61.8 points in December.
Emerging-market equities decreased on Monday trading session pushing the local benchmark index towards the lowest level in four months after a report showed that China's service industries slowed in December suggesting that the economy may lose its momentum. The MSCI Emerging Markets Index slipped 0.6% to 973.81 as of 2:45 p.m. Hong Kong time.
European equities were little changed on Monday trading session as traders awaited results from Eurozone's data showing that service sector in the area expanded in December and as China's non-manufacturing indicator slowed in the last month of 2013. The benchmark index Euro Stoxx 50 with expiration in March slipped 0.2% to 3,06 as of 7:14 a.m. London time.
Government bunds in Germany were little changed on Monday before a government data showed that manufacturing activity in the 18-nation bloc increased together with a growth in service sector rising for the sixth successive month in December. The benchmark 10-year bunds yielded at 1.93% as of 7:17 in London after jumping to 1.97% on January 2, the most since September
Saudi Arabia's non-oil private sector activity accelerated in December rising at the fastest rate in a three-month period led by a notable increase in new orders, Markit Economics and HSBC Bank showed in a report on Monday. According to the report, Saudi Arabia's private sector purchasing managers' index gained from November's 57.1 to December's 58.7.
Business activity in Japan increased with the service sector accelerating for the fourteenth successive time in December, a report revealed by Markit Economics showed on Monday. According to the report, Japan's Business Activity Index for service sector added from 51.8 in November, the least in three months, to 52.1 in December.