News

Thu, 01 Mar 2012 15:01:49 GMT

Industry metals fell as next QE in the US is not imminent

Industry metals apart from aluminium posted losses on Wednesday after Ben Bernanke's speech that provided a hint that the new QE in the US is not likely. Even inspiring industry data releases failed to retain metals on the positive area. Investors were also cautions ahead of China's PMI data during the volatile trade in the last day of the month.

Thu, 01 Mar 2012 14:53:49 GMT

Precious metals tumbled after Ben Bernanke's announcement

Precious metals tumbled on Wednesday amid broadly stronger US Dollar and Ben Bernanke's announcement on the recovery of the US economy. Taken better than expected industry and labour market, traders considered these comments as hint that there will not be the next round of the QE in the US. Gold lost more than 84 US Dollars per ounce and broke

Thu, 01 Mar 2012 14:20:08 GMT

UK manufacturing growth eased in February

British manufacturing activity growth modestly cooled in February, showed PMI survey on Thursday. The Purchasing Managers' Index declined to 51.2 in February compared to 52.0 in January. Nevertheless the reading still indicates expansion. Economists questioned by Dow Jones Newswires predicted an index to climb to 52.1. One possible explanation for the decline might be surging oil prices, suggest analysts. 

Thu, 01 Mar 2012 13:47:56 GMT

Asian stocks finish lower on Thursday

Asian share markets closed lower on Thursday as Chinese government's and HSBC's estimates of nation's manufacturing activity differed, raising concerns whether economy expanded or contracted in February amid worries government won't provide monetary easing. Appreciating Yen also put downward pressure on Asian shares. Australia's S&P/ASX 200 Index fell 1.0%, Hong Kong's Hang Seng Index tumbled 1.4% and Japan's Nikkei Stock Average slipped 0.2%. Shanghai Composite

Thu, 01 Mar 2012 13:27:33 GMT

Euro Area unemployment rate climbs to 10.7% in January

The jobless rate in the Euro Area accelerated to 10.7% in January compared to 10.6% in December said Eurostat on Thursday. The released figure marks the highest unemployment rate in the region since the enforcement of common currency in 1999. The number of jobless in 17-country region climbed by 185 000 to 16.925 million. 

Thu, 01 Mar 2012 13:11:09 GMT

Nikkei 225 index lower on strengthening Yen

Japan's Nikkei Stock Average erased early gains and closed into negative area on appreciating Yen amid signs of overbought market. Nikkei 225 index gave up 0.18% or 17.85 points and settled at 9,705.39 with property companies and exporters posting the biggest losses. Mazda Motor Corp declined 3% and Sharp Corp  faded 3.2%. Tokyu Land Corp  tumbled 3.8% and Tokyo Tatemono

Thu, 01 Mar 2012 12:51:07 GMT

Hang Seng index down on conflicting manufacturing data

Hong Kong's Hang Seng index declined on Thursday as government and HSBC's estimates of Chinese manufacturing activity differed, raising concerns whether economy expanded or contracted in February amid worries government won't provide monetary easing. Hang Seng index dropped 1.35% or 292.12 points to 21,387.96. Real estates shares and financial shares contributed to the negative side of the index. China Resources

Thu, 01 Mar 2012 12:34:36 GMT

Dow Jones Industrial Average index ends February with a 2.5% gain

Dow Jones Industrial Average index opened higher on Wednesday morning trade as US reported country's GDP in 4th quarter expanded more than expected. However shares erased gains later on Fed chairman Ben Bernake's announcement about persisting uncertainty in economy. Blue chip index slipped 0.41% or 53.05 points and settled at 12,952.07. On monthly basis, however, Dow index has advanced 2.5%.

Thu, 01 Mar 2012 12:12:52 GMT

S&P 500 index lower on Wednesday, up for February

S&P 500 index ended lower on Wednesday after Fed chairman Ben Bernake's announcement the job market is far from full recovery and the surge in crude price can bolster inflation. US benchmark index dropped 0.47% or 6.5 points and closed at 1,365.68. Nevertheless S&P 500 has gained 4.1% in February. First Solar tumbled 11% after cutting revenue forecast for 2012.

Thu, 01 Mar 2012 11:57:32 GMT

Switzerland's GDP increases by 0.1% in Q4

The Switzerland's GDP rose in Q4 of 2011, reported SECO. The GDP expanded by 0.1% on a quarterly basis in Q4, confronting analysts' forecast of a 0.1% fall. The major contributors to the economy's growth were gross fixed investments, trade balance and private consumption. Considering yearly changes, the GDP grew by 1.3% as compared to a 1.1% expected expansion.

Thu, 01 Mar 2012 11:41:29 GMT

Australian PMI indicated slower expansion in February

Australia's PMI expanded by 0.3 slower in February as compared to the preceding month, reported Australian Industry Group. The PMI attained 51.3 last month, being mostly led by growth in new orders, essential expansion in transport equipment, footwear and closing sectors. The manufacturers attributed slower expansion of the PMI to weaker demand, import competition, carbon taxes and stronger Australian Dollar.

Thu, 01 Mar 2012 11:23:43 GMT

RBA Index of commodity prices posted 1% gain in February

RBA Index of commodity prices indicated a 1% increase in February on a monthly basis in SDR terms, following the same increase of 1% in the preceding month. The major drivers for a boost were essential growth of gold, iron ore and oil prices while prices of industry metals and agricultural commodities also made slight contribution to a jump in

Thu, 01 Mar 2012 11:06:15 GMT

Chicago's manufacturing activity jumped to 10-month high in February

The PMI in Chicago region soared much more than expected last month, hitting 10-month high, reported Kingsbury International. The PMI increased by 3.8 points attaining 64.0 on a seasonally adjusted basis in February as compared to 60.2 in the preceding month. Experts projected the PMI to expand by 1.6 points approaching 61.8 last month. The New Orders Index hit 11-month

Thu, 01 Mar 2012 10:59:58 GMT

Market value of Apple Inc. attained 500 billion US Dollars

Market value of Apple Inc. approached 500 billion US Dollars for the first time, positioning Apple as the most valuable company in the world. Only such companies as Exxon, Microsoft, Cisco Systems, Intel and General Electric were capable to reach this level. Experts predict the company's profits to amount 40 billion US Dollars in 2012. The Apple's share closed at

Thu, 01 Mar 2012 10:26:28 GMT

Germany's unemployment was flat in January

The number of people without job in Germany was unchanged in January as compared to a 5,000 expected fall, reported Germany's Statistics Office. The rate of unemployment also remained unchanged, staying at 6.8% while analysts predicted the rate to approach 6.7% in January.   

Thu, 01 Mar 2012 09:56:19 GMT

US stocks close down on Wednesday, remain higher on monthly basis

Though US shares traded lower on Wednesday session, they posted relatively strong gains for February supported by positive economic data. S&P 500 index declined 0.47% or 6.5 points and closed at 1,365.68 or 4.1% higher on monthly basis. Dow Jones Industrial Average slipped 0.41% or 53.05 points and settled at 12,952.07 or 2.5% up for February. Nasdaq Composite fell 0.67% or

Thu, 01 Mar 2012 09:54:29 GMT

Crude oil inventories in the US rose by 4.2 million barrels last week

US crude oil inventories increased by 4.2 million barrels, approaching 344.9 million barrels last week, reported the EIA. The crude oil inventories hit an upper limit of an average level for this year period. At the same time, gasoline inventories fell by 1.6% but also remained at the upper boundary of the average level. Distillate fuel stockpiles moved down by

Thu, 01 Mar 2012 09:37:16 GMT

US economic growth revised to 3% in Q4

The US GDP grew more than initially reported in the last quarter of 2011, according to the Bureau of Economic Analysis. The GDP expanded by 3.0% on a seasonally adjusted basis in Q4 as compared to preliminary reading of 2.8%. Experts predicted the GDP to stay unchanged after revision. The upward revision of personal consumption from 2.0% to 2.1% pushed

Thu, 01 Mar 2012 09:15:00 GMT

CPI in the Euro Zone fell in January

The CPI in the common currency union increased by 2.6% in January on a seasonally adjusted basis while experts predicted the figure to remain flat at 2.7%, reported Eurostat. However, the CPI is still above the ECB target of below 2%. On a monthly basis, the CPI declined by 0.8% in January, being in compliance with expectations, after growing by

Thu, 01 Mar 2012 08:56:13 GMT

European markets mostly down on ECB loans and Bernake's announcement

European stock markets finished slightly lower on Wednesday as ECB provided record amount of cheap loans and Fed chairman Ben Bernake pointed out in his speech the global outlook stays uncertain. Stoxx Europe 600 index closed nearly unchanged at 264.32, CAC 40 index slipped 0.05% while German DAX index faced more substantial gains, declining 0.46%. British FTSE 100 index tumbled 0.95%. 

Thu, 01 Mar 2012 08:39:21 GMT

New Zealand's export volumes top 12-year high in Q4

New Zealand's export volumes hit the highest level since the beginning of 1990's in Q4, reported Statistics New Zealand. Export volumes grew by 2.9% on a seasonally adjusted basis in the last quarter of 2011 due to rapid increase in dairy products' exports. Meanwhile, prices for exported products added 1.7% led by price increases for milk, fruit and dairy while

Thu, 01 Mar 2012 08:28:22 GMT

Canadian Dollar surges on ECB cheap loan allotment

Canadian currency appreciated to the 5-month record high after ECB provided 800 banks with EUR 529.5 billion three-year loans. Loonie jumped 0.5% against US Dollar to CAD 0.9899. On monthly basis Canadian Dollar has gained 1.3% against the Greenback while on year to date basis Loonie has climbed 3.2%. Currently USD/CAD is trading at CAD 0.9890.

Thu, 01 Mar 2012 08:22:51 GMT

Singapore GDP outperforms Hong Kong's

Singapore's economic growth beat Hong Kong's GDP for a second consecutive year as the country benefited from stronger currency, steeper population expansion and growth in pharmaceutical and casino sectors. Singapore's GDP was SGD 326.8 billion for the year 2011 or about USD 260 billion while that of Hong Kong's reached HKD 1.89 trillion or USD 243.3 billion.

Thu, 01 Mar 2012 08:00:37 GMT

India's PMI slightly eased in February

India's Purchasing Managers' Index modestly slowed in February compared to January when it reached 8-month record high, indicating slowdown in country's economy might be easing. PMI declined from 57.5 in previous month to 56.6 in February, said HSBC Holdings Plc and Markit Economics today. 

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