New York general business condition gauge climbed from 7.80 in June to 9.50 in July, signaling an advance in manufacturing activity in the region. Economists were surprised by the data since the expected value was only 5.0. The gauge has reached the highest level since February when it was 10.0. Also future general business index rose from 25 to 32
Portugal's major political parties and the main opposition party agreed that July 21 is the deadline for an agreement on austerity measures, which President Cavaco Silva demanded last week. The agreement is necessary for a 78 billion Euro bailout requirement execution. When the President called for the pact last week, local stock markets fell 2%, reacting to political instability in
The Japan's Yen declined 0.93% to 100.10 versus the U.S. Dollar at 9:18 a.m. EDT after the retail sales data was published which showed weaker demand than economists projected. Against the Sterling, Japan's currency declined 0.87% to 151.08; and versus the 17-nation currency, the Yen dropped 0.75% to 130.58 on absence of new economic data from the EU.
U.S. retail sales climbed 0.4% in June while economists projected an increase of 0.8%. The data still suggests that sales did advance every month in the second quarter. Largest drivers behind the increase were car purchases which advanced 1.8% and gas sales that rose 0.7%. Gas turnover increased mainly due to higher prices for it, leaving consumers with less income
The ITEM Club released a new study "UK Forecast 2013" that indicated the U.K. economy is forecast to increase about 1.1% in 2013, fueled mainly by a stronger housing market and rise in consumer spending. The study shows that economic growth should accelerate in the upcoming years on recovery in business confidence and investment, also overseas sales are forecast to
U.K. shares climbed to the highest level in six weeks, after the FTSE 100 Index halted its second biggest one-week advance this year, as Chinese economic data matched the expectations. The FTSE 100 gained 0.9% to 6,602.19 as of 8:50 a.m. London time, touching its highest level since May 31. The FTSE All-Shares Index rose 0.9% on Monday, while Ireland's
Switzerland's shares advanced, extending previous week's gains, as China's economic data were in line with expectations. The SMI climbed 0.5% to 8,024.19 as of 10:01 a.m. Zurich time; moreover, the gauge increased 2.6% past week as U.S. earnings season started with Alcoa Inc. beating the estimates and the Fed's Bernanke stated that U.S. economy still needs monetary stimulus. The Swiss
Canada's shares declined, after the biggest advance in 11 months, and raw-materials companies decreased on signals China may endure slower growth and a U.S. Federal Reserve policy maker urged slowing of the asset-buying programme. The Standard & Poor's/TSX Composite Index dropped 0.3% to 12,462.17, after advancing 0.2% earlier.
German shares rose for a sixth straight trading day as China's GDP came in line with the expectations and as investors await U.S. June retail sales report. The DAX Index added 0.6% to 8,261.25 as of 10:47 a.m. Frankfurt time, its highest level since June 19; moreover, the equity-benchmark gained 5.2% previous week. The HDAX Index increased 0.6% on Monday.
Brent crude advanced to almost $109 per barrel today as concerns about demand eased after data showed that China's economic growth matched expectations. Brent crude added 15 cents to $108.96 a barrel at 7:10 GMT, while U.S. oil gained 10 cents to $106.05, after touching $105.50 earlier on Monday.
German government bunds remained steady, with 10-year note yields approximately two basis points higher than the lowest level in over three weeks, ahead of the Netherlands and France sales treasury notes. German 10-year note yielded 1.56% and the 1.5% security maturing in May 2023 was at 99.495. The two-year bond yield was at 0.11%.
The metal-future prices advanced on weaker U.S. Dollar and easing concerns over the China's economy. The August Comex gold contract inched up $12.30 to $1,289.90 per ounce, after jumping 5.4% in the previous week, while silver for September settlement gained 24 cents to $20.04 per ounce. China's GDP increased 7.5% in the second quarter.
U.K. housing prices rose for a seventh straight month and it is predicted that home values will double the estimates this year, according to Rightmove Plc. The average cost for a house increased 0.3% to 253,658 Pounds and it is forecasted that prices will rise 4% instead of 2%. Values in London were little changed at a record high 515,379
The Australian Dollar appreciated as data indicated Chinese economy expanded 7.5% in the second quarter, in line with economists expectations. The Australian currency inched up 0.4% to 90.89 versus the U.S. Dollar, adding to signs it strengthened versus all of its 16 major counterparts, advancing the most against the Singapore Dollar and Swiss Franc.
Chinese shares advanced, prolonging previous week's gains, after its economy matched analysts' expectations and the government increased the access to China's markets for foreign investors. The Shanghai Composite Index gained 1% to 2,059.39 after rising 1.6% previous week. The CSI 300 Index added 1.4% to 2,307.30, while the Hang Seng China Enterprises Index slid less than 0.1%.
European stocks advanced as Chinese second quarter economic expansion data came in line with expectations. The European Stoxx 50 inched up 0.59% to 2,690.67 and the German DAX jumped 0.61% to 8,263.52. The French CAC 40 increased 0.76% to 3,884.39 and the U.K.'s FTSE 100 climbed 0.74% to 6,592.30.
Asian shares gained, with the regional MSCI Asia Pacific excluding Japan Index rising for the fourth day out of last five, after data showed that economy in China grew 7.5% in the year's second quarter, matching forecasts. The MSCI Asia Pacific excluding Japan Index climbed 0.2% to 439.95 at 2:31 p.m. Hong Kong time and it has slipped 5.8% this
The Euro block's currency was slightly lower as the U.S. Dollar rebounded after declining last week on Ben Bernanke's comments about maintaining bond purchases. The Euro retreated 0.14% to $1.3047 before the U.S. releases data today. The common currency remained steady at £0.8647 against the Sterling and at ¥129.66 versus the Yen.
The British currency was little changed versus the greenback as U.K. housing data showed that the prices have increased for a seventh straight month in July. The Sterling was at $1.5101 at 7:43 a.m. London time after falling to $1.4814 on previous Tuesday, the weakest since June 2010. The Pound traded at 86.47 pence per Euro and it touched 86.94
The U.S. Dollar held gains versus the Japanese Yen and the common currency from the end of previous week ahead of U.S. report on retail sales due today that may boost the case for the Federal Reserve to taper bond purchases. The greenback jumped 0.1% to 99.28 against the Yen and was at $1.3070 versus the Euro.
The U.S. Dollar gained against its major trading partners today despite lower-than-expected U.S. consumer sentiment. The greenback appreciated 0.31% to $1.3055 versus the 17-nation currency as Euro zone's industrial output data were negative. Versus the Japan's currency, it gained 0.29% to 99.23 on decision of Bank of Japan to maintain stimulus unchanged.
U.S. stocks gained little after the University of Michigan published consumer sentiment data for July. S&P 500 advanced 0.07% to 1,676.13 at 2:20 p.m. GMT, and Dow Jones Industrial Average rose 0.17% to 15,488.29. The consumer confidence report showed a decline to 83.9 from 84.1 in June, while experts' forecast was a climb to 84.7.
WTI futures rose after yesterday's decline as the greenback strengthened today. WTI futures for settlement in August gained 0.42% to $105.36 a barrel, while futures of Brent crude advanced 0.50% to $108.27 a barrel. Oil fell yesterday after a disappointing U.S. labour market report that showed unemployment insurance claims increased by 24,000.
India's factory output plunged surprisingly in May. It fell 1.6% from a year earlier, while the median estimate was for a 1.4% increase in output. Another report on inflation showed that the CPI increased to 9.87% in June from 9.31% in May. The Rupee appreciated 0.1% to 59.63 per Dollar. The S&P BSE Sensex gauge advanced 1.4%.