U.K. shares retreated as investors speculated on data that showed U.S. home prices rose the most in more than seven years and the consumer confidence report is awaited. The FTSE 100 Index declined 0.4% to 6,665.92 as of 2:04 p.m. London time; however, the equity-benchmark has climbed 13% this year. The FTSE All-Shares Index fell 0.3%, while Ireland's ISEQ Index
The Reserve Bank of Australia Deputy Governor said on Tuesday that the country needs an increase in productivity together with a rise in domestic demand in order to keep living standards growing. Moreover, the weak exports' data will lead to the slowest advance in incomes for the last 10 years, while the country needs a 3.2% surge in productivity to
Economic growth in India probably went up to 4.6% in the third quarter of the current year from a 4.4% increase in April-June. Therefore, the median estimate of 25 economists suggests the Indian economy to grow less than 5% for a fourth consecutive quarter. Economists say that the lack of investment, together with rising inflation and high interest rates will
One of the largest American banks, Goldman Sachs, expects the global GDP to raise the pace of increase to 4% by the year 2015. It is forecasted the economic growth to cool slightly after a strong increase this year, while the main contributors to the rise in GDP will be European countries and the U.S. Analysts predict the U.S. and
A leading economic indicator of the African largest economy declined in September after recording gains in the prior month, the latest report released by the South African Reserve Bank unveiled on Tuesday. According to the report, the South African leading economic index fell from a level of 101.4 reached on August to 101.1 in September, while July's reading was 100.7.
The Canadian Dollar slipped on Tuesday falling to the weakest level in a four-month period after the global powers and Iran reached a deal over Iranian nuclear program pushing the oil prices down, Canada's largest export commodity. The so-called Loonie slid 0.3% to C$1.0543 per U.S. Dollar as of 5 p.m. Toronto time following a drop to C$1.0583, the least
The Indonesian currency decreased on Tuesday falling to the lowest level since March 2009 after the country raised $190 million by selling U.S. Dollar-denominated bonds, short of $450 million target on speculation that the Federal Reserve may cut stimulus soon. The Rupiah slid 0.4% to 11,783 per U.S. Dollar by 10:02 a.m. Jakarta time, the least in almost 5 years.
The Chinese currency forwards traded near its lowest level in a one week on rising political tension after the world's largest economy revealed new defensive emergency measures over disputed islands with Japan. 12-month non-deliverable forwards fluctuated at 6.1535 per U.S. Dollar by 10:05 a.m. Hong Kong time following a touch of the lowest level since November 19 at 6.1560 yesterday.
The Euro has recorded the second-best performance so far this year among the most-traded currencies raising concerns that the increase may weighed on the euro-area economic growth in 2014, Nomura Holdings Inc.'s Jens Nordvig claimed on Tuesday. The 17-nation bloc currency has advanced 2.4% against the U.S. Dollar on an annual basis, the most after Danish Krone.
The British Sterling declined on Tuesday falling for the third straight day against the 17-nation bloc currency before Governor of the United Kingdome central bank Mark Carney testify about the country's inflation outlook and economic forecast. The Pound slipped 0.1% to 83.78 pence per Euro as of 7:44 a.m. London time following a 0.5% drop yesterday.
According to the new forecast from the Federal Reserve Bank of Philadelphia, U.S. economy will advance 1.8% in the current quarter, while on the annual basis economic growth will reach 1.7%, up from 1.5% that was predicted before. At the same time, the GDP is forecasted to increase the pace of growth in the upcoming years, as it will jump
Soybeans declined on Tuesday falling from the strongest level in a two-month period as traders weighed speculations that crops in Brazil and Argentina may be boosted by local rains against signs that demand for U.S. supplies rises. January soybeans futures slid 0.4% to $13.24 a bushel on the CBOT and traded at $13.2475 as of 2:19 p.m. Singapore time.
European benchmark Brent crude recorded a slight drop on Tuesday after falling 2.7% yesterday during intraday trading after the world powers and Iran decided to still hold about 1 million barrels a day as a remaining sanction for the country. Brent for settlement in January dipped 13 cents to $110.87 a barrel on the London's ICE Futures Exchange.
West Texas Intermediate oil rose on Tuesday rebounding from the steepest fall in a week on concerns that crude supplies dropped for the first time in a two-month period in the world's largest consumer of the commodity, U.S. WTI for delivery in January advanced 51 cents to $94.6 a barrel on the NYMEX and it traded at $94.52 as of
U.S. Treasuries increased on Tuesday with the 5-year securities reaching the highest level since June before an auction totalling $35 billion of 2018 notes today. The benchmark 10-year government bonds were little changed yielding at 2.73% by 6:51 a.m. London time, while the 5-year Treasuries fluctuated at 1.34%, 1.04% more than investors get from 2-year securities.
Japanese equities decreased on Tuesday with the local benchmark index falling for the first time in a four-day period as the country's currency strengthened and as the fall was led by automakers and consumer electronics companies. The Topix Index slipped 0.5% to 1,253.02 in Tokyo, while the Nikkei 225 slid 0.7% to 15,515.24 at the close.
Japan's small and medium-sized enterprises business confidence advanced further in November mainly due to an improvement in overall economic situation in the country, a data published by the Shoko Chukin Bank revealed on Tuesday. According to the data, the business confidence index gained from 50.8 in October to 51.1 points in the following month.
The Japanese currency strengthened on Tuesday recording a slight increased against the U.S. currency from the lowest level in six months after a government report showed that situation on U.S. housing market worsen. The Yen advanced 0.2% to 101.47 per U.S. Dollar rising from a six-month low reached on Monday at 101.915.
Wall Street shares closed higher on Monday with the benchmark index Dow Jones recording its new high and the Nasdaq topping a level of 4,000 for the first time in a 13-year period to close slightly below that figure. The Standard & Poor's 500 Index slid 0.13% to 1,802.48, while the Dow Jones industrial average added 0.05% to 16,109.63 and
Asian shares increased on Tuesday rising for the third successive session amid speculation over higher oil supplies after the world powers and Iran reached an agreement on Iranian nuclear program pushing the oil prices down yesterday. The MSCI Asia-Pacific gauge outside Japan gained 0.3% following another 0.3% advanced recorded yesterday.
The British Banker's Association released October's number of new mortgages approved for home purchase, which came in at 42.8K, a bit lower than the 45.2K expected by analysts. While Excluding September's number of 43.2K, the number for October is still the highest since February of 2010.
Wal-Mart Stores Inc., the largest retailer in the world, will hire back workers, who were fired after the November 22, 2012 strike, asking for the better pay. The decision to dismiss workers was protested by The Labor Relations Board. Now, Wal-Mart has either to hire them back or pay compensations. Yesterday, Wal-Mart Stores Inc. shares added 0.95% to $79.81 per
Business confidence in Netherland's industrial sector advanced in the month of November, a survey published by the Central Bureau of Statistics unveiled on Monday. According to the survey, the Dutch industrial sector confidence index measuring expectations of future levels of production rose from -0.5 recorded in October to -0.4 in the following month.
Industrial production in Taiwan advanced in October rising for the second successive month, however, the rate of growth was slower than economists initially expected, a preliminary report released by the Ministry of Economic Affairs unveiled on Monday. The country's industrial production gained annually 0.78% in October after it added 0.60% in the month before.