U.K. equities tumbled from their highest level in 23 months on raising concerns that the recent rally in stock prices passed over the outlook for corporate earnings. The FTSE 100 index dropped 0.3% to 6,069.79. The decline was mainly prompted by decreasing shares of oil firms. All but two sectors within the benchmark index decreased. Banks, however, advanced as the
German shares dropped on speculation the U.S. budget bill won't diminish the fiscal deficit fast enough to offset profits in creditors. The DAX erased 0.5% to 7,734.18. However, the benchmark index has advanced 1.6% this year. Two out of nine sectors shrank in the gauge. A nearly 1% drop in technology sector was mainly driven by Infineon Technologies that lost
The number of car registered in the United Kingdom recorded more than two million units in 2012 reaching the largest volume in four years, the Society of Motor Manufacturers and Traders reported on Monday. Car sales rose 5.3% to 2,044,609 units following a 12.9% rise in private demand, while the market of new cars recorded figure 14.9% below its pre-recession level of
Economic activity of service sector in the world's largest economy accelerated more than economists expected in December reaching its highest figure in ten months, the Institute for Supply Management reported on Friday. The ISM's non-manufacturing sector index rose to December's 56.1 from 54.7 in November, while economists forecast the index to close down at 54.5.
Investor sentiment of the Eurozone improved for a fifth successive month in January after optimism was brought to the market as Greece succeeded to complete its bond buyback plan and as unemployment in Spain declined in December. The Sentix's index tracking the Eurozone sentiment released monthly grew more than expected from December's -16.8 to -7.0 in January.
The Pound was lower by 0.1% to $1.6048 in the beginning of London trading session on Monday. The British Sterling depreciated for a third consecutive session against the Dollar approaching the lowest level in one month period. The currency depreciates even as a Helifax report indicated an unexpected 1.3% increase in U.K. house prices last month. The Pound is lower
The Bank of South Korea might refrain from the key interest rate cut at the first meeting as the President Park Hye was elected. The Won, South Korea's currency, is the best performer among Asian currencies and that threatens for its export. A survey of Bloomberg, summarizing 10 economists' opinion, forecasts that borrowing cost will remain at 2.75% level on
The Yen appreciated by 0.5% to 87.73 versus the Dollar in very early London trading session on Monday. The Japanese currency increased from a 88.41 level, which is the weakest level since July, 2010. The Yen increases mostly due to technical indicators, which showed that the currency was oversold the most in last decade, as the Yen's RSI reached a
The Stoxx Europe 600 Index increased less than 1% to 287.93 in early morning session in London on Monday. The major European stocks' benchmark closed in its highest level since February 2011 on Friday, as U.S. lawmakers solved the fiscal cliff issues at least for a short term. Basel meeting yesterday had a positive impact for the index, as chiefs
The MSCI Asia Pacific Index was lower by 0.3% to 131.56 point in the end of Tokyo trading session on Monday. The benchmark for regional stock indexes retreated for the first time in last five days after it posted a seventh consecutive weekly gain. Analysts say that it is some profit taking point, but the general tendency remains positive, as
U.S. blue chips included in the Dow Jones Industrial Average index edged higher on Friday. Gains in the index were mostly led by financials and basic materials shares. The benchmark gauge advanced 0.3%, or 43.85 points, to 13,435.21. All but one sector in the index increased. Technology sector posted 0.68% losses, mainly driven by a decline in the Microsoft Corporation's
Spot gold price increased by 0.4% to $1,662.50 an ounce in the second part of Singapore trading session on Monday. Investors were positive on precious metals, as they have reached the lowest prices in last four months. Gold rebounds after the worst weekly performance since 2004. Commodity prices were strongly affected by the U.S. Federal Reserves statement, that its bond-buying
Crude oil futures for February settlement were down by 28 cents to $92.81 a barrel on the New York Mercantile Exchange during Singapore trading session on Monday. Market consolidates after last week optimism - oil reached a 2.5% weekly gain, as U.S. employers added 155,000 jobs in December, exceeding estimations and signaling about economic growth in the U.S., the world's
The Australian Dollar, also called Aussie, increased to $1.0469 and appreciated against most of its major developed-market pairs in the end of Sydney trading session on Monday. The market was driven by speculations, that Japan will expand its monetary easing programme in order to boost economy. That would also support a demand for assets related with the global growth. Japan
The Nikkei 225 index lost 0.8% to 10,599.01 points in the end of Tokyo trading session on Monday. The main Japanese stock index lost value with trading volume higher by 11% than the 30-day average, as investment decisions were driven by speculations that current market is overbought. Financial institutions and banks depreciated the most leading a decrease of the index:
Farm commodities apart from coffee dipped on Friday amid solid greenback. Moreover, upcoming debates on the US debt ceiling pushed rural commodities lower. Meanwhile, traders remained cautious ahead of closely-watched monthly USDA report on world crop supply and demand estimates due next Friday.Wheat closed at a six-month low amid weak demand for US supplies. As for December 27, total accumulated
Energy futures were mixed on Friday after the EIA weekly stockpiles report indicated larger-than-expected withdrawal last week. Energy prices also received a boost from hopes that dismal US job market data will result in continuation of the Fed's easing. However, mild weather forecasts as well as strong US Dollar continued to create heavy pressure on the commodity group. Crude oil
Industrial metals extended previous losses as euphoria over the US fiscal deal waned. Investors turned to safe-haven assets after the Fed hinted it may end its bond-buying program. Limiting the downswing, weak employment numbers in the US are likely to force the Fed to continue its stimulus measures. Aluminum plunged amid heavy pressure from firm greenback and bloated stockpiles at
Precious metals except for silver moved lower on Friday amid broadly stronger US Dollar. However, precious metals trimmed losses after weak US employment data suggested that despite recent comments the Fed is likely to stick to its loose monetary policy. On Thursday, the Fed announced it may end its bond-purchasing plan this year.Gold ended the week in the red territory
European stocks advanced for the fourth consecutive day, staying around its highest level in 22 months as U.S. unemployment stayed at the same level, raising optimism on the outlook for the world's largest economy. The German DAX index advanced 0.15% to 7,767.45. Only two groups in the benchmark index declined. Technology shares erased 0.95% and health care stocks lost 0.40%.
U.K. shares gained sending the benchmark index for its highest level in almost two years, as report indicated U.S. employment has increased more than expected in December and unemployment rate stayed unchanged at 7.8%. The FTSE 100 index advanced 0.6%, or 34.34 points, to 6,081.68. All but two sectors in the gauge increased. Only the shares of basic materials and
Hong Kong shares dropped down from their 19-month high amid falling exporters that declined after Federal Reserve said it will end their monthly bond purchase program. The Hang Seng index decreased 0.3% to 23,331.09, the biggest decline in 14 days.The gauge rose 23% last year. All but two groups slumped in the index. Financial companies slid the most in the
Japanese shares edged higher sending the Nikkei 225 Stock Average to its highest level since March 2011, as depreciating Yen supported exporters' earnings outlook. The national currency tumbled prior to BOJ's Deputy Governor Kiyoko Nishimura's speech today in San Diego on speculation the national bank will add stimulus to beat deflation. The Nikkei 225 index advanced 2.8% to 10,688.11 at
Dow erased this week's gains on concerns Fed will end the bond purchasing somewhere this year. After the budget deal this week, investors are now paying their attention to confrontations between Republicans and White House over government spending. In addition, a larger number of Americans than forecast claimed for unemployment benefits last week. The Dow Jones Industrial Average slumped 0.2%