The trade surplus of Italy unexpectedly dropped to 794 million euro in September of the current year from 1.07 billion a month earlier, while analysts expected the positive trade balance to extend to 1.63 billion euro. However, the surplus surged from 131 million euro in September of the previous year. On the annual basis, exports jumped 2% versus 5.4% drop
The trade gap of the United States surged to $41.8 billion in September of this year from $38.7 billion a month earlier, while economists forecasted the deficit to advance slightly to $39 billion. Imports of such products as automobiles and mobile phones jumped, while exports declined. At the same time, the rise in imports indicates the high confidence among American
The Asian shares strives for the first weekly advance in a month, afterwards the Federal Reserve chairman nominee, Janet Yellen, announced to remain U.S. stimulus unchanged, and speculation was made that China is going to release details of optimistic economic reform.The MSCI Asia Pacific Index advanced 1.3%, thus extending weekly gain to 1.8%.
Moody's, one of the largest rating agencies in the world, lowered four American banks' ratings. It is said that in case of financial crisis, the government will less likely help these banks. These banks include Goldman Sachs, Bank of New York Mellon, JPMorgan Chase and Morgan Stanley. At the same time, the ratings of another four biggest U.S. banks were
The Canadian Dollar dropped 0.1% against the U.S. Dollar, thus reaching the lowest level in more than two months, after the chairman nominee of Federal Reserve, Janet Yellen, announced that the stimulus will remain unchanged until the U.S. economy improves. So far this year the so-called loonie has depreciated 2% versus nine major peers.
Japanese shares advanced, pushing the Nikkei Stock Average 2.1% higher, thus crossing 15,000 mark, which is the highest level in six-moths, as investors supported Janet Yellen comments on remaining stimulus unchanged. The biggest gains in Japanese stocks reported Dai-ichi Life insurance, which rallied 4.3% after increasing profit forecasts, while Sony Corp. soared 3.7% before the release of the Sony Playstation 4 console.
The Japanese Yen dropped 0.2% versus the greenback, thus reaching the lowest level in two-months, after stocks showed significant gains the demand for safe haven assets plummeted. The Japanese currency has retreated 1.2% against the U.S Dollar in last three weeks, while the Yen is still set for losses, as analysts predict that the Bank of Japan in next weeks meeting is going to report slower
Trade deficit of South Africa was decreased, comparing with initial evaluation, as the country revised some trade data with neighboring countries. The negative balance stood at $6.3 billion in January-September of 2013, down from $12.38 billion that was initially estimated. The renewed number includes a surplus of $6.08 billion in trade with such countries as Namibia, Swaziland and Botswana.
The Pound surged 0.9% against the Japanese Yen, thus reaching the strongest level in four-years, after the growth of Asian nation's slowed and speculations appeared that U.K. economy will surpass its major peers. The Sterling also paired gains of 0.3% against the shared currency, after yesterday Pound jumped 0.6% on bets that U.K. might rise interest rates as the economy improves.
Wal-Mart Stores Inc., the largest retailer in the world, trimmed its profit forecast for the current year, as the company struggles with declining number of low-income customers, while the profit dropped in Q3. According to the new prediction, earnings per share could decrease to $5.11 in 2013. Yesterday, Wal-Mart Stores Inc. equities added 0.23% to $79.08 per share during trading
Canada's trade deficit shrink to $435 million down from $1.1 billion in September, surpassing economists expectations of maximum decline to $1 billion, after Canadian Statistics Tuesday's report showed exports rocketed 1.8% while imports only little changed, adding 0.2%. The higher exports where mainly boosted by energy products, like oil and natural gas, and transportation facilities.
U.S. initial claims for jobless benefits decreased by 2.000 to 339.000 last week, heading for fifth straight weekly fall, the Labor Department releases revealed on Tuesday, while non-farm employment advanced by 130.000 in October from previous month and expected to rise by 150.000 in November. At the same time the seasonally adjusted unemployment rate remained unchanged from the last
The Britain's currency appreciated 0.9% to 160.73 Yen as of 2:10 p.m. in London, after touching 160.77, the highest level since 2009, after Bank of England signaled increasing interest rates earlier that expected amid strong economy expansion. Meanwhile the Pound advanced 3.9% in three month period and climbed 0.4% to 83.67 pence per Euro.
Shares in Switzerland rose, snapping a two-day retreat for the Swiss Market Index, after Fed's Chairman nominee Janet Yellen, stated that the U.S. economy must grow before scaling back its monetary stimulus. The SMI gained 0.7% to 8,299.84 as of 9:26 a.m. Zurich time and it is set for the best performance yearly since 2006 as the index has jumped
U.K. shares gained after Fed's next Chairman Janet Yellen stated that U.S. economy must grow before nation's central bank will start to taper its monetary stimulus. The FTSE 100 Index added 0.8% to 6,683.93 as of 8:58 a.m. London time, bouncing off from a 1.4% decline on Wednesday. The FTSE All-Share Index gained 0.8% today, while Ireland's ISEQ Index increased
Gold advanced after Fed's Chairman nominee Janet Yellen said that monetary stimulus programme will not be scaled back until nation's economy and employment improve, reducing worries that the Fed will start tapering soon. The Yellow metal for immediate delivery added 0.1% to $1.,282.75 an ounce, while gold for December delivery climbed 1.1% to $1,282.20 an ounce as of 7:05 a.m.
The British currency dropped for the fourth day out of last five against the U.S. Dollar as data showed that U.K. retail sales declined in October. The Sterling slipped 0.3% to $1.6007 as of 10:47 a.m. in London, while it traded at 83.92 pence per Euro after climbing 0.6 on Wednesday. The Pound rose 3.6% in the last three months,
The British Sterling fell on Thursday dropping for a fourth time in a five-day period against its U.S. counterpart after a government report showed that retail sales in the United Kingdom surprisingly declined in October. The Pound slipped 0.3% to $1.6007 as of 10:47 a.m. in London and it was at 83.92 pence per Euro following a 0.6% increase yesterday.
European government bonds advanced on Thursday as the next Federal Reserve chairman Janet Yellen signaled that the U.S. central bank may maintain its bond-purchasing program until the country's economy improves. Italy's benchmark 10-year yields slipped 2 basis points to 4.09% as of 10:39 a.m. in London, while German 10-year bunds yielded at 1.72% following a fall by 5 basis points.
Robusta coffee traded in London slipped on Thursday falling to the weakest level in nearly a week amid speculation that Vietnamese farmers may begin selling the commodity as the harvest in the top world's producer advances. Robusta coffee expiring in January slid 0.7% to $1,455 a metric ton as of 11:25 a.m. on London's NYSE Liffe, while Arabica coffee with
Swap rates in Brazil decreased on Thursday falling for a third straight session after a government report showed that the country's economy surprisingly contracted in the month of September suggesting that central bakers may limit borrowing costs raises. 2015 Brazil swap rates declined fie basis points to 10.81% by 9:33 a.m. Sao Paulo time.
U.S. Treasury bonds increased on Thursday with the 30-year securities gaining for the second straight day as traders weighed on Fed's bond-purchase program before a confirmation hearing of the new Federal Reserve Chairman Janet Yellen. The benchmark 10-year government bonds yielded at 2.72%, while the 30-year yields fell one basis point to 3.81%.
Retail sales in the United Kingdom slumped 0.7% in October of this year on a monthly basis, rising annually 1.7%. Economists, in turn, predicted the retail sales to have no change in October with the annual gain of 3.1%. Food sales were down 0.1%, while fuel consumption dropped 2.1%. Experts point on bad weather conditions in the previous month that
Economic decline in Italy reached 0.1% in the July-September quarter of the current year, while the annual GDP contraction stood at 1.9%. The results were better than economists expected, as the waited for a 0.2% drop on a quarterly basis. Italian statistical office Istat said that farming and service sectors of country's economy decreased the output, while the manufacturing sector