Precious metals were mixed on Friday amid easing concerns over Cyprus bailout. Cypriot President Nicos Anastasiades has approached the EU leaders with the new plan on the bailout that would only tax deposits over EUR100,000. At the same time, weaker US Dollar coupled with expectations of robust physical demand in India supported the commodity sector. Gold declined as easing worries over
Industrial metals jumped on Friday on improved sentiment after Cypriot lawmakers worked out the new plan to receive the bailout. Boosting the metals further, the US Dollar continued to slide against its major counterparts. However, rising LME stocks limited gains of the commodity group. Aluminum surged on buying on the dips and prospects of production cuts. At the same time, elevated
Energy futures were mixed on Friday amid weaker US Dollar and hopes for an agreement on Cyprus bailout. Furthermore, a recent Fed's decision to stick to its current monetary policy lifted energy futures. At the same time, disappointing readings of the Eurozone's flash PMI data limited gains. Crude oil climbed as eased worries over Cyprus bailout deal bolstered demand for growth-sensitive
The MSCI Emerging Markets Index advanced by 0.9% to 1,024.44 points at the midday trading session in Hong Kong on Monday. Last week the index was close to the lowest level since 22nd of December, but today it gained the most since Mar 11, as Cyprus reached an agreement with the troika. This deal will allow Cyprus get 10 billion
Farm commodities were divided on Friday on speculation that shipping delays from Brazil will increase demand for US supplies. Moreover, abnormal weather conditions in Argentina and in the US Great Plains added to gains of grain futures. Wheat rose on concerns that snow and wet weather in the key growing states in the US are delaying spring planting. However, the
Gold for instant delivery advanced 0.3% to $1,613.76 an ounce at the midday trading session in Singapore on Monday. The price of gold increased even after Cyprus announced an agreement with international lenders about a bailout, as concern remained in the market that European region governors will face additional issues dealing with the sovereign debt crisis.
Taiwan's jobless rate declined for the fourth month in a row in February, when the total figure of unemployed persons reached 483,000 on the month, a data released by the Directorate-General of Budget, Accounting and Statistics showed on Friday. The jobless rate dropped from 4.2% in January to 4.16% in February, while it was forecast to stay unchanged in the
Jobless rate in Luxembourg remained flat at the historical high levels in the month February, when the total number of unemployed people reached figure of 17,363 annually following a January's 17,408 unemployed persons, the statistical office reported on Friday. The unemployed rate was 6.4% in February, the same figure like in January and December.
India's shares decreased on Friday recording a six-day losing streak with the benchmark Indian index reaching its worst weekly drop in a 15-month period after political instability together with limited room for interest rate cuts brought fear on markets. The Standard and Poor's BSE Sensex fell 0.3% to 18,735.60 on Friday, the lowest level since November 26, while the index
Retail sales in Cyprus declined significantly in the month of January, however, the pace of the decline was slower than a month before, the nation's statistical office reported on Friday. The report showed that retail sales in volume terms decreased 27.6% on a monthly basis compared to a 28.3% fall the month before, while on an annual basis the retail
Unemployment in Norway stayed flat in the month of March remaining at the same level for the third month in a row, data released by employment research agency NAV unveiled on Friday. The data said the jobless rate was in line with economists' expectations at 2.7% in March, however there were 1,200 more unemployed people in the same month. The
The Euro advanced by 0.7% to $1.2990 at the midday trading session in New York on Friday. The currency reached a 1.30 benchmark for the first time this week, as investors traded positively on speculation that Cyprus is getting closer to an international agreement, which will help to avoid a financial collapse.
Italian 10-year bond yield decreased by six basis points, or 0.06 percentage points, to 4.53% in the end of London trading session on Friday. Bond prices increase for a third straight day, as Cyprus signals about getting closer to a deal, which will result in an international bailout. Traders consider a current situation as a buy opportunity, assuming that the agreement will
Tourism arrivals in Japan increased in the month of February reaching its highest figure of visitors ever for the month, the Japan National Tourism Organization showed in a report on Friday. The number of foreign arrivals to Japan advanced on an annual basis by 33.1% to 729,500 in February, recording the most ever visitors for the month, while in January
Hong Kong equities fell on Friday, as protests in Cyprus underscored concerns that the debt crisis in Europe could worsen. Hang Seng index posted the biggest weekly decline since August 2012. Only two sectors in the gauge advanced. Industrial and consumer goods sectors added 0.5% both. China Unicom Hong Kong Ltd, a Chinese state telecommunications operator, surged 3.7% to HK$10.74
German government bonds advanced for a second straight day amid concerns about Europe's debt crisis will deepened after Cypriot lawmakers did not agree with the Eurozone's bailout plan and as the nation failed to get financial support from Russian. German benchmark 10-year bund yields fell 0.02 percentage points to 1.34% earlier on Friday London session, its lowest level since January
France's economic performance is set to stagnate in the first three months of 2013 as nation's unemployment continues to rise notably and as consumer purchasing power stays weak, the statistical office Insee reported on Friday. The report said the French GDP will record nil growth in the Q1 following a 0.3% drop in the Q4, while the unemployment rate is
French business confidence stayed flat in the month of March after it improved the month before, while economists were expecting an increase in March, the statistical office Insee reported on Friday. The report showed that the manufacturing sector business confidence index remained unchanged from the previous month at 90 points in March, while in January it reached 87 points.
Business confidence in Germany unexpectedly declined in the month of March, falling for the first time in last five months, a data released by the Ifo Institute showed on Friday. According to data, the business confidence index dropped to 106.7 in March compared to a forecast of 107.8 points following a climb to its highest level In 10 months at
Emerging-market shares decreased on Friday to its weakest level in three months mainly due to a notable drop of energy companies' stocks and as Cypriot lawmakers will debate bailout plan today. The MSCI Emerging Market Index dropped 0.4% to 1,018.70 at 1:33 p.m. Hong Kong time and it has declined 2.3% this week heading for it largest lost in a
The British Sterling advanced against the Eurozone's currency to the highest level in a five-week period as Cypriot lawmakers started new bailout debate after they rejected first European refinancing plan. The Pound appreciated 0.1% to 84.96 pence per Euro earlier on Friday London session following a jump to 84.85 pence, its strongest level since February 11.
Japanese stocks dropped, sending down the Nikkei 225 for its biggest decline on week since November, as the Yen appreciated against its major peers after Russia rejected Cyprus bailout plan, and Haruhiko Kuroda, the BOJ's governor, did not announce fresh monetary stimulus. The Nikkei 225 Index declined 2.4% to 12,338.53, posting a 4% weekly drop. 210 out of 225 members
Gold was set for its longest weekly streak of gains in a six-month period on Friday as a demand for the commodity was boosted by unfavourable news about situation in Europe after lawmakers are considering a possibility of shutting down two largest Cypriot banks. March Gold futures were little changed at $1,612.58 an ounce on Friday heading for another week
Brent oil's premium to West Texas Intermediate crude declined to its lowest level in eight months on Friday as the Organization of Petroleum Exporting Countries' exports will be cut by 2% through April due to a maintenance at Asia's refineries. Brent for delivery in May was up 3 cents at $107.50 a barrel on London's ICE, while May WTI futures