Ford Motor posted a second quarter report with higher than expected earnings, but also the company doubled its estimates for losses in Europe, where debt crisis is far away from being resolved. Soon after the report, company's shares jumped higher than 1 per cent. Company's quarterly revenue declined by 6.2 per cent to $33.3 billion, mostly because of the loss of $404 million in
Gold futures rocketed above $1600 per ounce during New York trading session, boosted by Fed's speculation about another quantitative easing in order to stimulate world's biggest economy. Gold futures climbed 1.8 per cent to $1,605.15, the highest level since July 6. Moreover, other precious metals added in value. Silver for September settlement jumped 1.5 per cent to $27.21 per ounce, while September copper added 1 per
According to the Bank of Korea, the nation's consumer confidence declined to the five-month low in July. The sentiment index declined to 100, compared with 101 in the previous month, indicating the numbers of optimists and pessimists are equal. Korean Finance Ministry's representatives added that nation's economic growth is slowing down amid worsening global outlook. South Korean currency declined by 0.4 per cent to 1,150.65 per
On Wednesday, July 25, corn jumped as rains may not be able to reverse crop losses after the draught. Corn for December settlement rocketed 1.1 per cent to $7.87 per bushel during today's New York trading session. At the same time November soybeans increased by 0.5 per cent to $15.7725 per bushel and wheat for September settlement edged higher 1.2 per cent to $8.895 per
Spanish and Italian bond increased on hopes for European Stability Mechanism enhancement, after ECB's approval to get a banking license. The yields on Spain's two-year government bonds dropped from a Eurozone's high, falling to 6.46 per cent, after rocketing to 7.147 per cent, the ten-year yield tumbled 21 percentage point to 7.41 per cent. At the same time, the yield on two-year Italian bond declined
The U.S. markets dropped on Monday after weak U.S. new home sales data and disappointing revenues from Apple, despite the fact Caterpillar and Boeing reported on stronger than it was predicted earnings. The S&P 500 Index tumbled 0.07 per cent, to 1,337.32; the Nasdaq Composite Index erased 0.28 per cent, to 2,855.06, while the Dow Jones Index edged higher 0.41 per cent, to 12,669.43.
The single currency pushed higher versus the greenback after ECB policy maker showed the positive sight of Eurozone's permanent rescue fund application for a banking license. Soon after the announcement, the Euro jumped 0.54 per cent to $1.2131, compared to yesterday's $1.2066. The ICE dollar index erased 0.36 per cent to 83.718, while more advanced WSJ Dollar Index declined by 0.24 per cent to 72.57.
As reported by the Commerce Department, the number of sold new single-family homes in the U.S. declined dramatically in June. Sales dropped to the five-month low, with 8.4 per cent decline to 350,000-unit annual rate. The decline was provoked by a 60 per cent fall in the Northeast and an 8.6 per cent drop in the South, while sales in the West and Midwest jumped
German DAX Index soared 1.14% on Thursday after Mario Draghi pledged to put any efforts needed to safe the Euro. However, larger than expected fall in export prices capped the rally of the stock index. Financial stocks posted the largest gain of 3.43%. Shares of Deutsche Bank and Commerzbank increased 2.93% and 1.67%. Daimler retreated 1% after Wednesday's rally. On
UK shares rose sharply on Thursday amid mixed earnings reports and Mario Draghi promise to safe the Euro by any means. FTSE 100 currently trades 1.09% higher at 5,555.30. Rolls-Royce moved 6.57% higher after reporting a 7% increase in H1 profits due to airlines' necessity to renew old fleets. Unilever advanced 5.42% as strong emerging markets helped the consumer goods
On Thursday, Citigroup Inc. announced that now there's a 90% possibility that Greece will abandon the Euro in the next 12 to 18 months. Citigroup's analyst note showed 75% probability that Greece would leave euro zone specifically naming Jan.1, 2013, as estimated exit day. All three Greece's creditors, the ECB, the IMF and the Euro Commission, are in the Athens
Oil company Royal Dutch Shell PLC RDSB RDS.B fell 3% on lowered energy prices. The FTSE 100 index UKX rose 0.1% to 5,503.11. The French CAC 40 index PX1 increased 0.2% to 3,087.92 on bank growth, Société Générale SA GLE added 1.9% and Credit Agricole SA BNP gained 1.5%. In Germany, Siemens AG SIE SIEB tumbled 3.5% on missing analysts'
Japanese equities rose for the first time in the last five days, pacing gains in Nikkei 225 Index. The Japan's equities index added 0.92% to trade at 8,443.1 amid rising earnings optimism. Olympus was the largest gainer, skyrocketing 9.63% after news that the company plans to establish closer ties with Sony and Fujifilm Holdings. Fanuc soared 5.3% after reporting a
Base metals moved higher on Wednesday on hopes for stabilization in the Eurozone and weakness of the US Dollar. However, the upswing was capped by weak UK quarterly GDP data release. Aluminum was almost flat, balancing between weaker greenback and higher China's output. Adding pressure on the light metal, Norilsk Nickel reported a quarterly loss caused by closure of Australian smelters. Copper
Rural commodities jumped on Wednesday on USDA comments. Fed easing speculation coupled with greenback's weakness also bolstered farm commodities. However, rain forecasts in the main grain-growing regions in the US restricted the rally. Wheat surged after USDA reported that global production is likely to fall in the current crop year. Meanwhile, Western regions in Australia are expected to remain dry threatening
Dow Jones Industry Average Index halted its downward move, adding 0.47% on Wednesday. Almost all sectors within the index went higher, with industrials and telecommunications posting the largest gains. Boeing was the top-performer, soaring 2.78%. The aircraft giant reported earnings that beat forecasts due to an increase in airplane deliveries. Meanwhile, Caterpillar soared 1.44% after the firm announced larger than
Hong Kong shares inched up on Thursday, indicating the first gain in the last four sessions. Hang Seng Index advanced about 0.1% to trade at 18,892.8. Hopes for monetary policy easing by the Fed buoyed China's equities. Consumer goods sector was lifted by a 3.75% advance in Li & Fung shares. At the same time, Sands China was the top-loser,
Precious metals advanced on Wednesday on broadly weaker US Dollar and mixed global equities. The precious metals appeal was also boosted by speculation that the Fed will implement additional growth-stimulating measures. Gold rallied above USD1,600 per troy ounce on news than greater number of Fed policymakers agreed that stimulus program has to be expanded to facilitate labour market recovery. Silver rose 1.5%,
Energy commodities, excluding natural gas, posted gains on Wednesday amid US monetary stimulus hopes and brighter demand prospects from China. Easing concerns over the Eurozone's financial instability also lifted the commodity group. Crude oil managed to end the day with slight increase despite unexpected rise in US crude oil inventories last week. Brent oil added almost 1% on Fed easing speculation and
S&P 500 extended previous losses on Wednesday amid weak housing data and speculation that the Fed will launch fresh easing measures. Meanwhile, risk sentiment rose after ECB governor announced potential techniques aimed at increasing firepower of the ESM. On the upside was Symantec, surging 13.51%. The firm unexpectedly dismissed its CEO who came in for severe criticism by investors. Yahoo
The Loonie rose for the first time since June 29 as expectations of potential improvements in the Eurozone crisis were created by Ewald Nowotny's argument on giving the Eurozone bailout fund ECB banking license. On Thursday, the Canada's Dollar increased 0.7% to C$1.0155 per U.S. Dollar.
Japanese stocks increased first time in five days, led by Nikkei 225 (NKY) advancing most since June 29, on earnings optimism, created by Fanuc (6954) Corp. Showing higher profit and JFE Holdings Inc. expecting income topped estimates. The Nikkei 225 gained 0.9% to 8,443.10 and the Topix Index (TPX) advanced 1.2% to 714.91.
N.Z. central bank holds nation's benchmark interest rate stable at 2.5 for an 11-th straight meeting. Governor Alan Bollard reports that domestic economy is expected to "grow modestly over the next few years" led by the growth in construction industry due to the rebuilding of earthquake-hit. The comment has immediately strengthened the Kiwi, to be bought 79.10 U.S. cents.
On Thursday, the Euro slipped 0.2% to $1.2134, but still staying above the two-year low of $1.2024. The Euro climbed on Wednesday as ECB Governing Council member Ewald Nowotny said he sees reasons for giving ESM a banking license that would expand its crisis-fighting possibilities. However, ECB President Mario Draghi denied the idea, while other legal problems might also prevent the process.