U.S. stocks dropped on rising concerns that the Cyprus's banking system's restructuring plan will cause losses on deposits in other European banks as well. The S&P 500 Index declined 0.3% to 1,551.69 after surging 0.5% earlier. All sectors in the gauge posted losses. Ebay Inc. lost 3.7% for the biggest slump in the index, as investors became cautious about a
Chile's currency reached a one-week high on Monday as demand for emerging-market assets was boosted by situation in Europe, where the Cypriot lawmakers agreed on a new bailout plan for the country's failing economy. The Chilean Peso appreciated less than 0.1% to 472.53 per U.S. Dollar at 10:25 Santiago's time reaching its highest closing level since March 18.
Finland's factory gate inflation decreased significantly in the month of February mainly due to a slowdown of the manufacturing sector's producer price index, which fell from 0.7% in January to a level of 0.1% in February, the Statistics Finland reported on Monday. The report also showed that price of goods sold in Finland added 0.9% on an annual basis in
House prices in the United Kingdom grew at the fastest rate in a three-year period in the month of March mainly due to a notable increase of prices in London amid higher demand for properties, the Hometrack reported on Monday. Prices of houses in England and Wales improved by 0.3% in March from the month before, while in London prices
Italy's trade balance with countries outside of the European Union came in a surplus in February after it resulted in a deficit the month before, a report released by the statistical office Istat showed on Monday. The Italian non-EU trade balance was 704 million euros in February following a deficit of 2.28 billion euros in January, while in February 2012
The Chinese currency advanced beyond a level of 6.21 per U.S. Dollar, its highest level in nineteen years, as the nation's central bank decided to raise its currency's reference rate and after a demand for emerging-market assets was boosted by new bailout agreement in Cyprus. The Yuan increased 0.02% to 6.2107 per U.S. Dollar after it touched a 19-year high
The South African currency continued its three day rally on Monday as a strike at the nation's second largest coal miner came to an end and after Cyprus's agreement of a new bailout plan for the country's faltering economy boosted demand for more risky assets. The Rand appreciated 0.5% to 9.2572 per U.S. Dollar after it recorded a loss of
U.S. Treasuries dropped for a second straight day after the Cypriot lawmakers agreed on a new bailout plan in order to avoid the nation's default curbing demand for U.S. assets. The U.S. benchmark 10-year yields recorded the highest level in a week, when it climbed by three basis points to 1.95% earlier on Monday in New York.
Producer price inflation in Spain recorded its lowest level in three years in the month of February mainly due to an energy costs slowdown, a data released by the statistical office INE showed on Monday. Spain's producer prices accelerated only by 2.1% on an annual basis in February, the slowest growth since February 2010, while in January they rose annually
The Italian consumer confidence index fell in the month of March from the level of 86 recorded in February to 85.2 the following month, the statistical office Istat showed in a report on Monday. The report showed the economic climate index dropped from 72.7 in February to 68.8 in March, while the personal climate index slipped to 91.4 from February's
Mortgage approvals for house purchases in the United Kingdom surprisingly decreased in the month of February, when it dropped from January's 31,983 to 30,506, the British Bankers' Association showed in a report on Monday. The report also said re-mortgages rose from 15,184 in January to 15,980 in February, while other secured borrowing slipped to 8,914 in February from 9,429 the
Spanish and Italian bonds advanced for the fourth straight session on Monday after the Cypriot's lawmakers agreed on a new financial package for its faltering economy increasing demand for Eurozone's assets with higher yields. 10-year Italian yields dropped 0.08 percentage points to 4.43%, while Spanish 10-year yields fell 0.05 percentage points to 4.81% earlier on Monday.
Copper traded in London decreased on Monday as a result of weaker demand amid speculations that the Chinese government will increase its interest rates in order to slow down the country's inflation which reached a 10-month high for the first time since 2011. Copper for June delivery dropped 0.2% to $7,643.50 a metric ton earlier on Monday session, but it
U.S. equities gained on Friday, yet posting the second weekly decline in 2013 for the S&P 500 Index, as optimism on Cyprus' ability to come up with a bailout plan rose and Nike Inc. and Tiffany & Co. data release on corporate earnings topped analyst estimates. The S&P 500 Index climbed 0.7% to 1,556.89 on Friday. All sectors in the
A three-week long rally of gold ended on Monday as the commodity decreased in London after global shares recorded a one-week high amid Cyprus's decision from yesterday night to agree with the new Eurozone's bailout plan. March Gold futures declined 0.4% to $1,602.76 an ounce earlier on Monday London session, while futures for June delivery dropped 0.3% to $1,603.50 on
Hong Kong shares rose on Monday, as the EU and Cyprus policy makers reached a bailout deal, thus reducing the risk of Cyprus unprecedented default. The Hang Seng Index advanced 0.7%, or 135.85 points, to 22,251.15. The gauge has recovered from its biggest decline since August 2012. Seven out of nine sectors posted gains with oil and gas and basic
Japanese equities advanced, as Cyprus policy makers agreed to the outlines of a bailout. The Nikkei 225 rose 1.7%, or 207.93 points, to 12,546.46, registering its highest value since September 2008. All sectors included in the gauge posted gains with consumer services and telecommunications adding 3.8% and 2.3%, respectively. 168 out of 225 companies posted gains in their stock prices.
U.S. blue chips surged on Friday on rising hopes Cyprus parliament will approve a plan to pass necessary conditions for receiving a bailout. The Dow Jones advanced 0.6%, or 90.54 points, to 14,512.03. 9 out of 10 sectors and 22 out of 30 companies included in the gauge jumped during the trading session. Consumer services and industrials added 1% both,
The Stoxx Europe 600 Index rose by 0.8% to 296.44 points in early London trading session on Monday. The gauge recovered from a last week's 1.1% drop. Investors were willing to purchase European equity, as Cyprus reached an agreement with international lenders on a bailout package. This deal will bring more certainty in capital markets and sharply reduce the risk of Cyprus
The British Pound slightly appreciated to $1.5235 in the very early morning of London trading session on Monday. The Sterling reached the highest level versus the U.S. Dollar since February, as macro data indicated that U.K. house prices advanced by 0.3% in March and that was the best performance in three years.
The Shanghai Composite Index was slightly lower at 2,328.8 points in the afternoon of Shanghai trading session on Monday. The index consolidates after last week's rally of 3.9%. Today telecommunication industry depreciated and led the market overshadowing China Construction Bank Corp. better than expected profit. Investors wait for more data on earnings, as market lacks of drive to appreciate further.
WTI oil futures for May settlement were higher by 54 cents to $94.25 a barrel on New York Mercantile Exchange in Singapore trading session on Monday. WTI appreciates for a second straight session, as Cyprus reached an agreement with European finance ministers and international lenders on a bailout plan. This deal eases concern that the European debt crisis will get
The Euro increased by 0.4% to $1.3040 and 0.7% to 123.63 versus the Yen in the second part of Tokyo trading session on Monday. The 17-nations currency appreciated as European finance ministers approved a bailout deal for Cyprus. International creditors agreed to provide a 10 billion Euro emergency loan to Cyprus, what will reduce a potential default risk and uncertainty in capital
The MSCI Asia Pacific Index increased by 1% to 135.61 points by midday trading session in Tokyo on Monday. The gauge, tracking the major Asian stock indexes, recovered from the worst weekly performance in seven previous months. Today equity markets were higher, as Cyprus reached an agreement with the troika and eliminated a possibility of its default.