JPMorgan Chase & Co, the biggest American bank by volume of assets, announced that it will stop clearing the international bank transfers in dollars for Latvia, the Baltic state, which acquired the euro yesterday. Therefore, the only foreign banks that will offer international money transfers in dollars for Latvian commercial banks are now German Commerzbank AG and Deutsche Bank AG.
New car registrations in France advanced 9.4% in December of the last year, totaling with 175,336 units, while the economic recovery in the country raises hopes that an increase in car sales will continue in 2014. At the same time, on a yearly basis car sales decreased 5.7%, while French manufacturers PSA Peugeot Citroen and Renault pushed their 2013 sales
Car sales in Spain jumped in December of the previous year, as the government support program continued to push car registrations up. Moreover, the economic recovery gained momentum in last months. Totally, there were 18.2% more cars sold in December, while on the annual basis the Spaniards bought 3.3% more cars or 722,703 units. In 2012, however, car sales in
Output in the manufacturing sector of the Eurozone registered the fastest increase since May 2011 in the previous month. The PMI index, which evaluates the activity in this sector of the region's economy, inched up to 52.7 points versus 51.6 a month ago. At the same time, economists say that the indicator varies between different countries, as in Germany it
The manufacturing sector of Italy posted a significant increase in activity in December of 2013, as the benchmark Purchasing managers' index grew to its biggest level in 32 months, reaching as much as 53.3 points against 51.4 points a month ago. Analysts predicted the PMI index to increase marginally to 51.8 points. The reading above 50 points indicates expansion in
Activity in the manufacturing sector of the U.K. continued to increase in December of 2013, while the benchmark PMI Index, which measures activity level in this particular sector of country's manufacturing sector, declined slightly to 57.3 points. In November the value of the indicator stood at three-year highest level of 58.1, but economists predicted the PMI to reach 58 points
Gold advanced from its biggest annual retreat since 1981 as a decline to the lowest level in six months was spurring the demand. The yellow metal for immediate delivery climbed 1.5% to $1,224.11 as of 3:25 p.m. Singapore time, after it touched $1,182.27 on December 31, the lowest level in six months, while silver jumped 2.7% since December 31.
The British Pound gained against the 18-nation currency ahead of U.K.'s manufacturing report that analysts expect to show that it has expanded in December. The Pound added 0.2% to 82.88 pence per Euro as of 7:55 a.m. in London, while the currency traded at $1.6573 after advancing 1.9% against the U.S. Dollar in 2013.
West Texas Intermediate advanced for the first day out of the last three on expectations that U.S. crude inventories most likely declined. Futures gained 0.6% after an annual climb of a 7.2% in year 2013. WTI for February delivery added 55 cents to $98.97 a barrel, after touching $98.74 at 9:26 a.m. in London.
U.K. shares retreated in the first day of trading this year after their best annual advance since 2009 as the manufacturing report is awaited by investors. The FTSE 100 Index fell 0.4% to 6,722.07 as of 9:23 a.m. London time, after rallying 14% in year 2013. The FTSE All-Share Index dropped 0.3%, while Ireland's ISEQ Index added 0.2%.
European shares dropped, after their biggest annual climb since 2009, as Eurozone's manufacturing data were in line with economists' expectations. The Stoxx Europe 600 Index slid 0.3% to 327.36 as of 9:22 a.m. London time, after gaining 0.3%, while the MSCI Asia Pacific excluding Japan Index retreated 0.7% after disappointing Chinese manufacturing data.
The Japanese Yen remained lower after its worst annual retreat since 1979 on speculation that Japan's central bank will continue with its stimulus to support nation's economy. Japan's currency was at 105.28 per Dollar at 12:04 p.m. Singapore time and it declined 18% in year 2013. The Yen was at 144.92 per Euro, after it touched 144.73 at the end
Manufacturing activity in Spain improved modestly in the last month of 2013 after recording a decline in the month before, mainly due to rebounds in production and new business, a report revealed by Markit Economics showed on Thursday. The headline purchasing managers' index gained from November's 48.6 points to 50.8 in the following month.
Employment in the Europe's largest economy recorded the highest level all-time last year, however the increase of employment averaged half of a level seen in 2011 and 2012, a report published by the statistical office Destatis showed on Thursday. The report also showed that German jobless rate dropped to 5.2% in 2013, the lowest level among EMU countries.
Natural gas futures traded in New York advanced on Thursday rebounding from the largest one-day fall in an eight-month period after a cold weather forecast signalled that demand for heating fuels may rise. Natural gas for delivery next month gained 0.5% as of $4.253 a million British thermal units on the NYMEX and traded at $4.238 by 9:44 a.m. Singapore
West Texas Intermediate crude advanced for the first time in a three-day period on Thursday after a report showed that inventories in the U.S., the world's largest consumer, declined last week. WTI for delivery in February gained 52 cents to $98.94 per barrel on the NYMEX and it traded at $98.92 as of 3:54 p.m. in Singapore.
Gold traded higher on the first trading session of this year rallying from the worst year in over thirty years as drop to the lowest level in six months spurred investors' appetite for physical purchases of the precious metal. Bullion for delivery in January gained 1.5% to $1,224.11 as of 3:25 p.m. Singapore time after the prices slid to $1,182.27
Chinese shares slipped on Thursday trading session mainly due to a declined of consumer and energy companies after reports world-wide showed that manufacturing activity in many countries decreased towards the end of last year. The Shanghai Composite Index tumbled 0.3% to 2,109.39 and it dropped 6.8% in 2013, the worst-performing gauge in Asia.
German government bunds declined on Thursday pushing the benchmark 10-year yields towards the highest level in three months before a report showed that manufacturing activity in the Eurozone accelerated for a 6th month in December. Germany's 10-year bunds yielded three basis points higher at 1.96% as of 8:25 a.m. in London and it touched 1.97% the most since September 23.
India's manufacturing activity improved in December recording the second consecutive advance, however the pace of growth was weaker than in the month before, the HSBC Bank and Markit Economics showed in a report on Thursday. According to the report, the country's purchasing managers' index fell from November's 51.3 to 50.7 in the following month.
Factory sector in Ireland advanced in December rising for the seventh successive month led by a sharp gain in new orders, a report published by Investec and Markit Economics revealed on Thursday. According to the report, Irish purchasing managers' index for the sector jumped from November's 52.4 to a level of 53.5 in the following month.
Manufacturing sector activity in Sweden advanced at a notably slowed pace in December compared to a month before mainly due to a significant drop in production, a report revealed by the Swedbank showed on Thursday. The country's purchasing managers' index for the factory sector fell from November's 56 to 52.2 in the last month of 2013.
Manufacturing activity in the world's second largest economy slowed down in the last month of 2013 suggesting that the economic growth in the country eased in the last three months in the past year, a report published by the HSBC and Markit Economics showed on Thursday. The HSBC/Markit manufacturing sector purchasing managers' index slid from November's 50.8 to 50.5 in the
The Spanish economy is set to recover led by a massive job creation this year, according to the country's Minister of Economy Luis de Guindos, however most Spaniards remain skeptical about a real recovery until 2015. A poll revealed by El Mundo newspaper showed on Thursday that 71% of the population expects the end of depression in 2015 as the unemployment if