Monday survey demonstrated that U.S. companies are not planning to employ more workers and to rise firms' shares due to the Eurozone debt crisis which reduces sales of the companies. The National Association for Business Economics stated that in the next half-year only 23% of the all interviewed companies are going to hire new employees, whereas its Spring research showed
The slowest growth of China's economy might decelerate PC market expansion. Research conducted by Robert W. Baird & Co, financial advisory firm, showed that the PC industry could stay flat in 2012 i.e face no growth. Though industry researcher, Gartner Inc., expects a slight expansion of 2.7%. Gartner's report shows that globally shipments of PC declined by 0.1% to 87.5 million items in the second quarter
The German two year interest rates remain negative for a week already, having dropped 0.01% to -0.055%, while the five year yields reached a new record low value of 0.283%. The borrowing costs have rapidly increased as investors rather bought German bonds to avoid dealing with states facing the debt crisis.
ZTE, Chinese mobile telecommunications manufacturer, dropped 16% following its expectations of half-year profits to decline at around 80%. It appeared after reports about possible FBI probe in relation to the ZTE sale of forbidden surveillance systems to Iran. ZTE shares dipped on Monday to 10.32 Hong Kong Dollars.
As cited in an official government report, in Singapore the sale of homes has decreased by 17% and reached 5,572 units, which is the most significant drop for the last two and a half years. The prices have also fallen, which is considered a progress, since Singapore has been introducing new measures and trying to reduce the prices since 2009.
ITEM Club from Ernst & Young, British leading forecasters, considered the UK may exit the recession period by the end of the year. The growth will be achieved by falling inflation and an increase in consumer spending. Peter Spencer, chief economic adviser at ITEM, expect disposable income to climb by 1.5% during last quarter of 2012. Though, during the first quarter of 2013 household income might
The British Pound substantially appreciated against the Euro in 2012. This led to a decrease in profits of British manufacturers. The UK lost its competitiveness and become unattractive for the buyers from Germany and France. The current trading rate stays at GBP 0.7860 per EUR, though last week the Pound gained 0.9% against the Euro. Moreover, OECD (Organization for Economic Cooperation and Development) accounted the
China's stocks weakened, as there have been issues regarding the earnings in the overall market, as announced by Cen Liqiu, strategist at Jianghai Securities Co. The Shanghai Composite Index and the CSI 300 Index lost 1.3% and 1.5% respectively. The ZTE Corp, China's second largest telecommunication equipment producer, lost 10% after the net profit has decreased by 80% in comparison with
The Euro reached a value of 0.6% than its all time low in 2010 of $1,20. The currency has been trading lower against its main peers, after Sunday's interview of Angela Merkel. She announced that none of the austerity measures of the five states in need of economic help will be softened.
Oil prices fell again after a slight recovery last week. Futures declined by 0.6% in New York on Monday morning, July 16. August-delivery oil dropped by USD 0.51 to USD 86.58 a barrel. Oil refining slid by 3.4% from May in the US. This led to a record low topping level of 8.79 million barrels a day. Gasoline prices declined by 6.77% to USD
Germany's shares surged on Friday amid hopes for easing in China after Chinese GDP growth tumbled to the lowest level in the last three years. German blue chip index soared 1.07% to trade at 6,474.30. Telecommunications sector was the top-performer, skyrocketing 3.88%. Deutsche Telecom rose 3.3% after Credit Suisse Group upgraded rating of the firm's shares from underperform to neutral.
UK stocks advanced, mirroring gains of Asian stocks amid speculation about further monetary easing in China after weak GDP data in Q2. FTSE 100 Index added 0.55% to trade at 5,631.80 at the time of writing. Miners provided support for the UK commodity-heavy index. Rio Tinto, Xtrata and BHP Billiton moved higher 1.33%, 0.89% and 1.31%, respectively. China's easing hopes
Hong Kong shares were mostly higher on Friday as slowdown in China's growth was not much worse than forecast. China's GDP expanded by 7.6% in Q2, the slowest pace since 2009. Hang Seng Index climbed 0.5% to trade at 19,102.38. Financial institutions bounced off previous lows after late Thursday's data indicated that lending approached three-month high in June. China Construction
Energy commodities edged up on Thursday despite persistent demand concerns amid faltering global economy. At the same time, positive US labour market data and dip buying supported the commodity group. Crude oil continued to draw strength from larger than expected drop in US inventories last week. Meanwhile, market players were cautious ahead of China's quarterly GDP data due on Friday. Brent oil
Japanese equities erased some of the previous losses on speculation that China will ease its monetary policy further after its GDP growth sowed to three-year low in Q2. Nikkei 225 added 0.5% to end the week at 8,724.12, being notably supported by property developers. Komatsu and Hitachi Construction rose 1.38% and 1.43%. Meanwhile, Dentsu, Japan's largest marketing company, weakened by
Rural commodities were mixed on Thursday, balancing between global demand concerns and supply uncertainty. Currently, traders turned from Wednesday's USDA report to weather related issues. Wheat futures prolonged the rally as price-boosting effect of the recent USDA report persisted. On Wednesday, USDA slashed global wheat production forecast, citing large harvest yields fall in Russia and Kazakhstan. Corn recovered some of
US blue chips index dropped on Tuesday despite positive US labour market data; unemployment claims dropped much more than expected last week. Meanwhile, oil and gas companies followed bearish trend after crude oil price tumbled over 1% in the US morning trade. Exxon sank 0.31% while Chevron managed to cover early losses and close 0.17% higher. On the upside, Merck
Precious metals apart from silver tumbled on Thursday as stronger US Dollar and continuous Eurozone woes added pressure on the commodity group. Better than expected US labour market data coupled with recent Fed decision also weighted down on precious metals. Gold retreated as larger than expected fall in the US unemployment claims lifted the greenback. Moreover, BoJ decision not to ease
Industry metals except for copper declined on Thursday ahead of China's GDP data release due on Friday. At the same time, unexpected increase in the Eurozone's industrial production in May provided slight support for base metals. Aluminum plunged despite potential industrial demand increase after Alcoa signed a deal worth USD1.4 billion with Airbus. Copper managed to end the day on the positive
US stocks prolonged Wednesday's slump, falling for sixth consecutive day on Thursday. Spreading worries that slowing US economy and Eurozone debt woes have hurt corporate earnings of the US businesses weighted down on the US equities. S&P 500 declined 0.5% to close at 1,334.76. Mariot International lost 6.44% after the hotel operator announced that revenues missed expectations in Q2. Progressive
The Russian Ruble appreciated by 0.4% against the US Dollar on Friday, July 13, in Moscow. The trading rate currently is RUB 32.64 per USD. 3 billion US Dollars of Russian Eurobonds due 2042 increased in value, therefore the yield declined by 0.06% to 4.867%. The appreciation of the Ruble was also caused by the high oil price, above USD 100 a barrel on
The Euro depreciated to USD 1.2190 and got closer to two-year low of USD 1.2166 on Friday, July 13, just after Italy's credit rating was cut by Moody's. In total, the Euro has lost 5.7% so far in 2012, which is more than the previous year. The depreciation of the European currency was accelerated last week by the ECB's interest rate cuts. Experts believe
Despite extra working day UK's construction output declined by 6.3% in May, showed the Office for National Statistics. Caused by Queen's Diamond Jubilee one public holiday was transferred from the end of May to June, though company's did not use this chance effectively. Fall of 7.4% in construction occurred also between March and May of compared with the same period in 2011. The major drag for
Spanish regional governments are missing their budget-deficit targets for 2012 (1.5% of GDP) and were given one week to make corrections for the plans. Last year regions showed the highest overspending, running 3.3% deficit. Cristobal Montoro, Spain's Budget Minister, also rejected finance chiefs pleas of relaxing their deficit targets. Currently Spain's budget deficit target for 2012 is 6.3%, 4.5% per 2013 and 2.8% for 2014.