European shares declined on Monday after they were traded close to their five-year high as reports from the 17-nation bloc showed weaker manufacturing output and services falling for the 15th month in a row, at the same time retail sales declined. The benchmark Europe Stoxx 600 Index dropped 0.2% to 300.52 earlier on Monday London session.
Manufacturing activity in the euro area decreased at a slower pace in April than the previous month, according to a report unveiled by the Markit Economics on Thursday. The report showed that the Purchasing Managers Index marginally declined from March's level of 46.8 points to 46.7 in April, while economists expected the figure to fall to 46.5.
The European Central Bank lowered its benchmark interest rates to the lowest level all-time on a policy meeting on Thursday as the bloc's economy is not recovering as expected. The Governing Council led by the ECB's President Mario Draghi cut the refinancing rate by 25 basis points to historical low 0.50%, while the marginal lending facility rate was reduced to
Emerging-market stocks increased on Friday pushing the regional benchmark index towards largest weekly advance in more than a month as automakers from China and property sector shares in Philippines rose. The MSCI Emerging Market Index was traded 0.2% higher at 1,038.92 at 2:03 p.m. Hong Kong time, while it has gained 1.6% this week.
European shares were little changed on Friday as traders awaited the U.S. labour market report showing that employers hired more people in April and as companies from retail sector to banks reported their earnings. The benchmark Stoxx Europe 600 Index rose less than 0.1% to 297.97 earlier on Friday London session after it completed the longest winning streak of monthly
Chinese equities gained on Friday recording the biggest advance in a week mainly due to an increase of financial shares, with regional benchmark index rebounding from a 4-month low. The Shanghai Composite Index move up by 1.4% closing at 2,205.50, bouncing back from the lowest since December 24, while the CSI 300 Index gained 1.8% to 2,492.91.
Asian shares jumped on Friday after Australian bank Macquarie showed that its earnings rose and as initial jobless claim in the U.S. fell to a five-year low and the ECB's meeting resulted in another interest rate cut to historical low. The MSCI Asia Pacific excluding Japan Index advanced by 0.1% to 480.88 at 2:32 p.m. Hong Kong time and it
The Euro depreciated versus most of its peers on Friday declining for the first time in a five-day period versus the so-called greenback after the European Central Bank led by Mario Draghi showed that he is open for negative deposit rate. The Euro slipped by 0.9% to $1.3065 as of 5 p.m. New York time after it advanced 1.3% in
The Chinese Yuan decreased for the first time in a six-day period on Friday falling from the highest level in 19 years as the People's Bank of China reduced the fixing by 11 basis points to 6.2152 per U.S. Dollar today, largest cut since April 18. The Yuan fell 0.02% to 6.1574 per U.S. Dollar at 10:09 a.m. Shanghai time
The British currency was little changed against its U.S. counterpart before a report showed that service sector in the United Kingdom accelerated for the fourth straight months in April suggesting that the economy is recovering. The Sterling was at $1.5533 earlier on Friday London session following a climb to $1.5606 recorded on May 1.
Crop increased on Friday and it is set for the largest weekly gain since July 2012 as planting in the world's largest exporter of corn and wheat, U.S., slowed and crop conditions worsen amid bad wet weather in the region. Wheat for delivery in July advanced 0.3% to $7.31 a bushel on the CBOT and it is heading to add
Gold is traded at the most bearish trend in last three years as traders and investors sold the metal held in exchange-traded products in a record amount and the prices fall in a bear market. Gold declined by 12% to $1,474.95 an ounce so far this year in London following the previous 12 years of gains, while the metal is
West Texas Intermediate oil dropped on Friday paring its weekly gain as investors awaited the U.S. government report showing improvement in the country's payrolls suggesting an acceleration of the economy. June WTI futures declined 33 cents to $93.66 a barrel on the NYMEX and were traded at $93.82 as of 2:50 p.m. in Singapore.
The Reserve Bank of India cut its benchmark policy rates by 25 basis points for the third time in 2013 in order to boost the economy and improve the growth. The RBI led by the Governor Duwuri Subbarao lowered the repo rate, which is the rate at which central bank lends to other banks, from 7.50% to 7.25%, while it
U.S. Treasuries yields were traded 0.02 percentage points from the lowest level in 2013 before the U.S. government report was released showing that the unemployment in the country stayed unchanged and payrolls increased. The benchmark 10-year yields were at 1.63% at 7:04 a.m. London time, while the rate slipped to 1.61 this week.
The Australian Dollar is heading to complete the longest streak of weekly drops against the New Zealand Dollar in a twelve-year period amid speculation that the Reserve Bank of Australia will lower borrowing costs next week. The so-called Aussie dropped 0.2% to NZ$1.2042 at 4:05 p.m. Sydney time after it touched $1.2034, the lowest since October 2009.
German government Bunds were little changed on Friday before a report showed that producer prices in the 17-nation bloc decreased in the month of March. German benchmark 10-year yield was at 1.17% as of 7:10 a.m. in London after the rate declined to 1.15% yesterday, the weakest level since July 2012, when it recorded an all-time low at 1.127%.
The U.S. Dollar appreciated against the Euro on Friday recording the largest gain in 2 weeks before the U.S. report was released showing that payrolls in the country improved last month after they rose at the slowest pace in 9 months in March. The U.S. Dollar was traded at $1.3067 per Euro earlier on Friday London session following a 0.9%
Construction sector in the United Kingdom continued to contract in April, but at a slower rate than the month before, the latest figures released by the Chartered Institute of Purchasing and Logistics showed on Thursday. The construction sector purchasing managers index moved up to 49.4 in April from 47.2 in March recording the slowest fall in sector's activity in the
Initial claims for unemployment benefits in the U.S. fell surprisingly to the lowest level in 5 years in the week ended on April 27, according to a data released by the Labor Department on Thursday. The data showed that jobless claims dropped to 324,000 from the previous week's level of 342,000, while economists forecast the figure to record 345,000.
Trade balance of the U.S. came in deficit in March, however, the gap narrowed as the value of imports fell at a faster pace than the value of exports, the Commerce Department reported on Thursday. The report showed that the deficit fell from a level of $43.6 billion recorded in February to $38.8 billion in March, while it was expected
Labour productivity in the world's largest economy bounced back from losses recorded in the last three months of 2012, however, the rate of growth was below forecast, the Labor Department reported on Thursday. According to the report labour productivity moved up by 0.7% in the Q1 reversing a 1.7% drop recorded in the previous quarter.
Coffee futures traded in New York are set for the largest gain in a four-month period amid speculations that the world's biggest producer of the commodity, Brazil, will limit supplies with government price supports. Arabica coffee for delivery in two months gained 3.5% to $1.3935 earlier on Thursday New York session heading for the biggest rise since January 2.
The British Pound appreciated versus the 17-nation bloc currency on Thursday after the U.K. report showed that construction in the country improved, and as the ECB's President Mario Draghi said the Eurozone's finance ministers are open for negative interest rates. The Sterling added 0.6% to 84.14 pence per euro and it was 0.3% down at $1.5505.