Chinese stocks ended lower on Thursday amid more than 10 profit warnings posted by Hong Kong companies overnight. Property developers also dragged the stock index lower on speculation that Beijing may impose a real estate tax in the first half of the year. China's stocks were further weakened by disappointing US GDP reading that signaled the US economy still faces
Japanese shares were bullish on Thursday after preliminary industrial production showed an increase of 2.5%, compared to a forecast of 4.2%. Despite being weaker than forecast, the figure indicates a rebound in industrial production. However, weaker than expected data from the national housing market coupled with dismal US GDP reading weighed on Japanese stocks. The Nikkei 225 Index gained 0.22%
Housing prices in the U.K. advanced in the month of January together with a pick up of lending activity caused by lowed mortgage rates, the Nationwide reported on Thursday. The report showed that a typical house price increased by 0.5% and the Nationwide Housing Price Index rose from 327.5 in December to 329.1 in January, while annual change of the
Unemployment in the European largest economy surprisingly declined in January as a sign of healthier labor market with improving conditions of global economy, the Federal Labor Agency unveiled on Thursday. German's unemployment decreased notably by 16,000 in January following a December's drop of 2,000, the total number of unemployed reached 2.92 million."The German labor market convinced with a distinct robustness
US stocks tumbled after the data showed the US economy unexpectedly shrank by annualized 0.1% in Q4 in 2012, compared with a forecast of 1.1% expansion. However, strong labour market numbers and the Fed's decision to leave its monetary policy loose limited losses of the US equities. The S&P 500 Index lost 0.39% to end the session at 1,501.96. Only
Dow plunged amid weak demand for riskier assets after disappointing US GDP reading. At the same time, Fed's monetary policy decision lifted US blue chips. Proving further support for the equity market, US non-farm employment jumped more than expected this month. The Dow Jones Industrial Average Index slumped 0.32% to close at 13,910.42. All but one sectors plummeted. The only
Asian shares fluctuated after Japan's industrial output missed forecast and U.S. growth unexpectedly fell. The MSCI Asia Pacific Index increased less than 0.1% to 133.34 at 4:24 p.m. in Tokyo, following a 0.4% decline. Japan's Nikkei 225 Stock Average rose 0.2%, while Australia's S&P/ASX 200 Index lost 0.4% and South Korea's Kospi Index fell 0.1%.
The U.S. Dollar was poised for a sixth monthly drop versus the Euro ahead of data that might show an increase in the U.S. unemployment claims. The greenback traded at $1.3557 per Euro as of 6:59 a.m. in London, up 0.1% from a day earlier in New York, when it touched $1.3587, the lowest level since November 2011. The U.S.
South Korea's currency declined, as Deputy Finance Minister Choi Jong Ku said that taxes on bonds and currency trading should be considered in order to help restrict speculative inflows of capital. The Won depreciated 0.3% to 1,085.46 per U.S. Dollar in Seoul after strengthening 0.9% yesterday following a 1.7% decline on January 28.
The Australian Dollar weakened versus most of its 16 major peers, as Asian shares fell, curbing demand for risky assets. Elsewhere, the kiwi dollar rose against the Aussie after New Zealand's central bank announced it expects the nation's economy to recover. Australia's Dollar declined 0.3% to $1.0390, while the New Zealand Dollar lost 0.1% to 83.50 U.S. cents.
Rural commodities, excluding coffee, advanced on Wednesday as dismal US data was easily offset by continuation of easing measures by the Fed. Weak US Dollar coupled with unfavorable US weather were supportive for farm commodities. Wheat surged on signs of improving import demand across the globe and poor prospects for this year's crops. National Weather Service reported no rains were
Energy futures were bullish on Wednesday after the Fed left its loose monetary policy unchanged. However, dismal US quarterly GDP reading as well as much bigger-than-expected increase in the US crude oil inventories put notable pressure on the commodity group. Crude oil climbed on hopes for solid demand amid easing measures by the Fed. At the same time, investor sentiment was
Industrial metals moved higher despite concerns over a potential slowdown in US demand after US GDP unexpectedly shrank in Q4 of 2012. Base metals found support on hopes easing measures by the Fed will stimulate US economy thus pushing up consumption of industrial metals. Aluminum and Nickel continued their upward movement on speculation that production cuts of Rio Tinto and
Precious metals apart from palladium jumped after the data showed US GDP unexpectedly contracted by annualized 0.1% in Q4 of 2012, compared to a forecast of 1.1% growth. Adding to gains of the commodity group, the Fed decided to leave its ultra-easy policy unchanged. Broadly weaker US Dollar and strong investment demand also pushed precious metals higher. Gold climbed on Fed's
UK stocks are trading lower on Wednesday as investors shunned risky assets after the data showed the US economy unexpectedly contracted in Q4. The US economy shrank 0.1% year on year in Q4 of 2012, compared to a forecast of 1.1% expansion. The FTSE 100 Index lost 0.16% and is currently trading at 6,329.32. Only four sectors managed to post
US blue chips were mostly bullish on Tuesday on speculation that the Fed will leave its easy policy unchanged despite recent positive economic data. Encouraging quarterly reports coupled with strong US housing market numbers also lifted the US stock average. However, dismal consumer sentiment data weighed on equities. US CB consumer confidence plunged to a 14-month low of 58.6 this
The Wall Street closed in the positive area on Tuesday amid mounting hopes that the Fed will decide to continue its loose monetary policy at its meeting on Wednesday. Sending the US stocks higher, quarterly results continued to beat expectations. The S&P 500 Index gained 0.51% to 1,507.84. Eight out of ten sectors included in the index were bullish. The
German equities are trading in the red territory after dismal US GDP data. US economy unexpectedly contracted by annualized 0.1% in Q4 of 2012, while analysis predicted GDP to grow by 1.1%. However, German stocks seem to have limited downside potential due to positive EU data and rising hopes the Fed will stick to its loose monetary policy. The DAX
Hong Kong equities jumped on Wednesday on hopes the Fed continues its easing measures. However, the appetite for riskier assets deteriorated after Citigroup warned growth in 2013 may be slower than expected as government may refrain from policy easing amid heavy inflationary pressure. Despite less optimistic China's growth outlook, Hang Seng Index jumped 0.71% to close at the highest mark
Japanese shares soared on Wednesday, tracking gains of US stock market. Market sentiment was further supported by hopes the Fed will continue its easing measures. Boosting exporters, the Yen depreciated against its US counterpart, attaining a 31-month low. The Nikkei 225 Index surged 2.28% to finish above 11,000 for the first time since April 2010. All but one sector rallied.
Farm commodities were mixed on Tuesday amid broadly weaker US Dollar and improved appetite for riskier assets. Unfavorable weather conditions in Argentina as well as concerns over spreading coffee leaf rust in Central America were supportive for rural commodities. At the same time, weak US export data pushed the commodity complex lower. Wheat slumped after the USDA report showed US wheat
Energy futures except for natural gas finished Tuesday's session in the green territory on hopes the Fed will decide to stick to its easy policy at its meeting on Wednesday. However, eased supply concerns pressurized the commodity group. Prince Abdulaziz bin Salman said Saudi Arabia would be able to maintain the current level of oil output for at least
Industrial metals climbed on Tuesday ahead of key economic data releases due on Friday. Weaker US Dollar also provided support. However, a larger-than-expected decline in the US CB consumer confidence as well as increased caution ahead of Fed monetary policy statement capped gains of base metals. Aluminum jumped on speculation that production cuts of Rio Tinto and BHP Billiton will result
Precious metals advanced on Tuesday on hopes the Fed will leave its loose monetary policy unchanged at its meeting on Wednesday. Moreover, weak consumer confidence data sent the US Dollar lower, boosting appeal of the commodity complex to other currency holders. Gold climbed on soft greenback and signs of strong physical demand from central banks. Gold holdings of Russia and