Japanese equities traded red on Friday as the Yen appreciated against the Dollar weighing on the blue-chip companies dependent on exports. The Nikkei 225 Index declined 0.5%, or 64.02 points, to 13,485.14, yet close to its highest value in 20 months. Japanese electric companies were among the top performers, as the utility sector surged 2.9%. Tokyo Electric Power Co Inc
French current account balance came in deficit in February from the month before, however, the current account gap narrowed, a data released by the Bank of France revealed on Friday. The data said the seasonally adjusted current account deficit shrank to 4.947 billion euros in February from January's level of 5.020 billion euros, while in February the current account gap
U.S. blue chips surged on Thursday, as jobless-benefit claims fell more than expected. In addition, retailers jumped amid advance in March sales. The Dow Jones Index climbed 0.4% to 14,865.14 points, the highest value ever. 25 out of 30 companies and eight out of nine sectors included in the gauge posted gains. Pfizer Inc, a pharmaceutical corporation, rallied 2.4% to
Gold futures are set to record its third weekly loss as investors are seeking for higher-yielded assets amid speculation the Federal Reserve may begin pulling back its bond purchases as the economy recovers. Bullion for delivery in April was traded at $1,563.60 an ounce as of 2 p.m. Singapore time after it declined to the lowest in one week at
Japan's government bonds dropped on Friday falling four fourth day this week as demand for securities was curbed by the Bank of Japan's offer to purchase short- to long-term securities in a total value of 2.51 trillion yen ($25.3 billion). The Japanese benchmark 10-year yield increased by six basis points to 0.635% at 4:24 p.m. Tokyo time after the rate
U.S. stocks advanced, with the Standard & Poor's Index climbing for a fourth consecutive day, as retailers rallied on rising sales in March and the applications for unemployment benefits dropped more than expected. The S&P 500 Index surged 0.4% to 1,593.37. All but one group in the index edged higher. GameStop Corporation, a developer of electronic game and PC entertainment
The U.S. Dollar depreciated versus the majority of its counterparts on Friday before a report showed that retail sales in the U.S. stalled in March suggesting the Federal Reserve may need to keep its loosen monetary policy in order to recover the economy. The U.S. Dollar slipped 0.2% to 99.46 yen after it touched its highest in four years at
West Texas Intermediate oil decreased for the second straight day on Friday as the International Energy Agency reduced its global oil demand forecast, however prices are set to record the fifth weekly gain in six weeks. WTI for delivery in the next month dropped 36 cents to $93.15 a barrel on the NYMEX and was traded at $93.17 as of
Emerging-market shares decreased on Friday snapping a four-day rally as Infosys (INFO) ltd's forecast of sales matched expectations and economists projected slow recovery of South Korean carmakers and shipbuilders. The MSCI Emerging Markets Index declined by 0.6% to 1,023.48 as of 1:35 p.m. Hong Kong time paring its rise this week to 1.5%.
German government bunds were little changed on Friday with the benchmark 10-year yield heading for its weekly drop before a report showed that industrial output in the Eurozone increased in February. 10-year rate was at 1.30% at 7:09 a.m. in London after the yield increased to 1.33% yesterday, the highest level since March 27.
U.S. Treasuries were set to record a weekly loss as the President of the Philadelphia Federal Reserve Charles Plosser said that the central bank should change its loosen monetary policy and reduce bond purchases in next few months. U.S. benchmark 10-year yield was little changed at 1.79% at 7:08 a.m. London time and the price of the bonds were at
European shares declined on Friday ending a four-day rally for the benchmark Stoxx Europe 600 Index before the U.S. retail sales report showed steady level of sales and as Eurozone's finance ministers meeting in Dublin. The Euro Stoxx 50 Index futures declined 0.5% to 2,603 earlier on Friday London session, however the Stoxx 600 has advanced 5.5% this year.
Farm commodities except for sugar were bullish on Thursday amid mounting concerns over unfavorable weather in the U.S. Great Plains. Cold temperatures in the U.S. are impacting the development of winter varieties and slowing early plantings. At the same time, abundant supplies from Brazil weighed on softs. Wheat edged higher after the USDA confirmed China's order of the grain. However, the
Energy futures except for natural gas dropped on Thursday after the IEA cut its forecast for world's oil demand for 2013. The IEA reduced its estimate by 45,000 barrels per day, citing weak demand from Europe. European consumption is expected to fall 330,000 barrels per day to the lowest level since 1985. Crude and Brent oil declined on elevated U.S. inventories
Base metals apart from aluminum advanced on Thursday on positive numbers from China. New loans issued in China rose more-than-expected in March, alleviating worries over tight liquidity conditions in the country. However, concerns over a jump in global production limited gains of industrial metals. Aluminum was the only loser amid increasing supply glut and high inventories at the LME. Stocks at
Precious metals climbed on Thursday on broadly weaker U.S. Dollar. However, the upswing was restricted as better-than-expected US jobs data raised concerns the Fed may scale back its easing programme. Gold moved higher despite talks that Cyprus may sell EUR400 million of its gold reserves. Adding pressure, holdings of gold-backed ETPs remained at record low. Meanwhile, Goldman Sachs cut its
German harmonized inflation measured under the EU methodology stayed flat matching the forecast in March, a report unveiled by the Federal Statistical Office showed on Thursday. The report said that the harmonized index of consumer prices (HICP) was unchanged in March at 1.8% on an annual basis, while on a monthly basis it increased by 0.4% on the month.
EU harmonized inflation in France slipped in the month of March falling to its lowest level in more than 39 months, however the fall was less steep than expected, the statistical office Insee reported on Thursday. The report showed that harmonized index of consumer prices (HICP) weakened from 1.2% recorded in February to a level of 1.1% in March.
Import prices in the U.S. recorded a pullback in March from the month before mainly due to a notable decrease in fuel import prices, a report released by the Labor Department unveiled on Thursday. The report said that import prices dropped 0.5% in March after they increased by 0.6% in the previous month, while fuel import prices fell 1.9% in
Unemployment in Greece increased significantly in January with the jobless rate hitting its historical high as the ongoing crisis in the country weighted on activity in the labour market, a report revealed by the Hellenic Statistical Authority showed on Thursday. The Greece unemployment rate rose from 25.7% in December to new record high at 27.2% in January, while in January
Initial claims for unemployment benefits in the U.S. decreased by more than preliminary estimated in the week ended on April 6 falling from the highest level in four months set the week before, a data released by the Labor Department unveiled on Thursday. The report showed that first-time jobless claims dropped by 42,000 from 388,000 to 346,000, while it was
Emerging-market shares increased for the third straight day on Thursday mainly due to a growth of technology sector and consumer discretionary companies as South Korea's currency rose and Turkish two-year yields declined to its lowest level in one month. The MSCI Emerging Market Index gained 0.5% to 1,029.56 earlier on Thursday London session, its highest since April 1.
The emerging-market average yield shrank to the lowest levels all time on Thursday as the Bank of Japan decided to double its monetary base in next two years in order to fight deflation in the country boosting demand for higher-yielding assets. The average yield in emerging markets tracked by JPMorgan Chase & Co. dropped 0.16% since April 3 with the South Africa's 10-year yield fell
Crude declined for the first time in a four-day period on Thursday as stockpiles in the U.S. reached the 22-year high and as the International Energy Agency's outlook for global oil demand decreased. May Brent futures lost 70 cents, or 0.7%, to $105.09 a barrel on London's ICE Futures Europe exchange, while the Brent premium to WTI fell to $10.75,