The number of submitted jobless benefit applications decreased by 2000 in previous week to 351 000, reported Labor Department on Thursday. Economists questioned by Marketwatch predicted the number of unemployment claims to reach 350 000. The four week mean figure of applications declined by 5500 to 354 000 maintaining the lowest reading in four years.
Rural commodities were mixed on Wednesday with advancing wheat and corn and falling sugar and coffee. Sugar manly continued Tuesday's decline as traders tended to cash out from the market on the four month high sugar price before switching to April contracts. However, investors attempt to keep an eye on the Brazilian crop conditions. Coffee also was among losers as
Energy commodities, excluding heating oil, faced firm gains on Wednesday despite broadly higher US Dollar and weaker equities. Strong manufacturing data releases managed to offset the impact of Fed Chairman's speech. At the same time, EIA report provoked fluctuations as it indicated a 4000 million barrels increase in the US crude oil inventories last week while it also said that
German DAX index appreciated on Thursday supported by carmakers and positive US economic data amid declining Italian bond yields and unchanged nation's unemployment level. Volkswagen AG's brand Audi posted a 69% surge in 2011 profit. Volkswagen's stocks added 1.7% while BMW AG gained 1.5%. Additional upside contribution came from Deutsche Bank AG which climbed 1.8%. At the moment of writing
After tumbling 1% on Wednesday, British FTSE 100 index retreated on Thursday trade, driven by financials as investors anticipated news about US jobless claims and governmental data showed British manufacturing activity modestly cooled in February but stayed above 50 indicating expansion. Man Group PLC jumped 7.5% after posting an increase in funds for the first two months of 2012 to
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.
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
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.
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
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.
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
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
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%.
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.
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.
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.
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
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
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
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.
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
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
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
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