Oil rose to its biggest weekly gain in four-month period in New York as U.S. legislators are launching a new round of "fiscal cliff" talks scheduled on Sunday to avoid tax increases and spending cuts. West Texas Intermediate added 0.7% on Friday, extending its biggest weekly advance since August. February WTI jumped 62 cents to $91.49 a barrel, while Brent
U.S. shares recorded losses on Friday as President Barack Obama and legislators are ready to return to Washington on Sunday in order to continue with talks to avoid tax hikes and spending cuts which could bring the U.S. economy back to recession. The benchmark S&P 500 index futures fell for a fifth time this week, when lost 4.9 points, while
Hong Kong equities reached their highest level in eighteen months as investors switched to Chinese non-financial sectors right after Beijing raised optimism on quicker sector reforms. The Hang Seng index advanced 0.2% to 22,666.59. All but one group in the index edged higher with consumer goods advancing the most by 0.75%, followed by technology and utilities that gained 0.57% and
Labour cash earnings in Japan fell for a third successive month in November, according to data from the Ministry of Health, Labour and Welfare on Friday. Total labour cash earnings dropped 1.1% on an annual basis in November, following a 0.4% decline in October and 0.5% fall in September. Contractual cash earnings increased 0.3% after a 0.3% drop in a
Japanese shares advanced sending up the Nikkei 225 Stock Average. The index surged to the highest level in 21 months and reached its best annual gain 5 years, as weakening Yen has boosted up exporters. Investors became very optimistic as Prime Minister Shinzo Abe pushed for strong monetary stimulus. The prime minister has called on the BOJ to set a
U.S. equities dropped for a fourth day on Thursday, yet recovering their earlier losses, after the House of Representatives announced it would meet this weekend to finally agree on the next year's budget. Investors search for any hint that would indicate that the "fiscal cliff" would be averted. Equities in the basic materials and financial sectors declined the most b
U.S. blue chips pared their earlier losses during the last trading hour on rising optimism among investors over the budget deal, as the House of Representatives appointed a session on Dec.30. The S&P 500 index slid 0.1% to 1,418.10, after declining 1.3% earlier in the session. All but one group in the gauge edged slightly lower with consumer goods being
Asian shares rose, with Japanese stocks advancing the most since 2005, as data showed that the Japan's consumer prices declined, fanning speculation the BOJ will step up cash infusions. The MSCI Asia Pacific Index added 0.4% to 129.36 at 3:26 p.m. Tokyo time. The Nikkei 225 Stock Average increased 23% this year, the biggest annual rise since 2005. Hang Seng
Farm commodities apart from sugar were bearish on Thursday amid broadly stronger US Dollar and weak risk appetite among investors. Profit-taking and light trade volumes also created heavy selling pressure on the commodity sector. Wheat dived to five-month low on signs of vanishing demand for US supplies. US exports for delivery in 12 months that started June 1, were off
Energy futures, excluding heating oil, moved lower on Thursday as demand for riskier assets weakened amid escalated concerns over US fiscal deadlock. Dismal CB consumer confidence figure and weak data from the US housing market added pressure on the commodity group. However, the downswing was limited due to encouraging profits of Chinese industrial firms in November.Crude oil fell ahead of
The Philippine Peso is poised for the best annual rise since 2007, supported by the fastest economic growth in Southeast Asia and speculation that the country may gain its first investment grade rating. The Peso rose % this year to 41.075 per greenback, according to Tullett Prebon Plc. The currency climbed 0.1% today.
Base metals except for nickel ended Thursday's session in green territory. Positive data from China's industrial sector supported the commodity group. However, the upward trend was limited due to lingering concerns that US lawmakers will not manage to resolve fiscal impasse timely. Moreover, dismal CB consumer confidence reading as well as weaker-than-expected US new home sales weighted on industrial metals.Aluminum
Precious metals apart from platinum climbed on Thursday despite stronger US Dollar. Weak CB consumer confidence figure for December coupled with renewed concerns over US fiscal cliff increased safe-haven appeal of precious metals. However, larger-than-expected drop in the US unemployment claims capped gains of the commodity group.Gold moved higher after Senate Majority Leader Harry Reid said that January 1 may
The Aussie Dollar rose to the highest level in 20 months versus the Yen as data showed a drop in Japanese consumer prices, fanning speculation for more monetary easing by the central bank. The Australian Dollar traded at 89.83 yen, the strongest since April 2011, before touching 89.67 at 4:01 p.m. in Sydney, up 0.4% from the close yesterday.
Canada's Dollar weakened to near one-month low as deadlock on U.S. budget talks raised concern the showdown might drag Canada's biggest trading partner into the recession. The loonie lost 0.9% to 99.52 cents per greenback at 5 p.m. in Toronto, after trading at 99.59, the weakest level since November 28. One Canadian Dollar buys $1.005.
Japan's currency slid to the lowest level in 28 months as data showed a decline in consumer prices and a slump in industrial output fanning speculation for cash injections to end deflation. The Japanese Yen fetched 86.64 per U.S. Dollar, the lowest level since August 3, 2010, trading at 86.46 at 6:45 London time, down 0.4% from the close yesterday.
German equities paired gains reaching their highest level in one week prior to U.S. lawmakers resuming discussions to prevent the so-called "fiscal cliff". In addition, investors are becoming more optimistic about the outlook for the Eurozone, as the ECB is taking measures to rebound the euro-area.The DAX index advanced 0.4% to 7,664.54 by 1:55 p.m. in Frankfurt. The gauge has
U.K. stocks increased to their one-week high as U.S. lawmakers are about to resume the budget talks to avert the so-called "fiscal cliff" that might push the nation into an economic recession. The U.S. President Barack Obama is pushing lawmakers to come to a conclusion. The FTSE 100 index added 0.4%, or 22.54 points, to 5,976.72 by 1:39 p.m. in
Emerging-market equities advanced for the fourth day, prompted by soaring technology shares, as Chinese industrial earnings rallied and U.S. lawmakers are about to resume budget talks. Honk Kong blue chips also advanced sending the Hang Seng index 0.4% up to 22,619.8. All but two sectors in the index edged higher with basic materials, industrials and technology sectors advancing the most
German equities paired gains reaching their highest level in one week prior to U.S. lawmakers resuming discussions to prevent the so- called "fiscal cliff". In addition, investors are becoming more optimistic about the outlook for the Eurozone, as the ECB is taking measures to rebound the euro-area. The DAX index advanced 0.4% to 7,664.54 by 1:55 p.m. in Frankfurt. The
Japanese equities jumped, reaching their highest level since March 10 in the year 2011, the day before earthquake, as the Yen keeps weakening and the new government aims at more monetary easing. Investors are very optimistic about the new government, as Abe intends to change the BOJ's inflation target and push the bank for an aggressive monetary policy. The Nikkei
U.S. blue chips finished sharply lower on Wednesday on mounting concerns over the final version of the U.S. budget deal and slumping retailers, as equity markets were closed for the Christmas Holiday. The Dow Jones Industrial Average fell 0.2%, or 24.49 points to 13,114.59. All but one sector out of nine inched lower with basic materials being the only gainer
U.S. equities extended their losses for the third consecutive day, as retailers shrank after the Christmas holiday pairing with concerns about the final outcome of the nation's budget negotiations. The S&P 500 index dropped 0.5% to 1,419.83 on Wednesday. Nine out of 10 groups in the index inched lower, with basic materials being the only sector surging. Cliffs Natural Resources
U.K. stocks increased to their one-week high as U.S. lawmakers are about to resume the budget talks to avert the so-called "fiscal cliff" that might push the nation into an economic recession. The U.S. President Barack Obama is pushing lawmakers to come to a conclusion. The FTSE 100 index added 0.4%, or 22.54 points, to 5,976.72 by 1:39 p.m. in