Thailand's economy shrank in the last quarter of 2011 amid severe flooding that impacted manufacturing activities of the country. The GDP contracted by 9% in Q4 of 2011 on a yearly basis and by 10.7% from the previous quarter, reported the NESDB. However, despite weaker than expected performance, the NESDB raised the economy's expansion outlook from between 4.5% and 5.5%
UK's real estate prices increased at the fastest pace in the last 10 years this month. The price jump was supported by the improved confidence and sales-tax holiday provided by the government that finishes in March, reported Rightmove. According to the index of Rightmove, the home prices soared by 4.1% in February on a monthly basis and by 1.4% on
Canada's consumer price index unexpectedly accelerated in January as value soared for all categories but leisure goods. The increase was mainly boosted by fuel and groceries. The inflation level surged annual 2.5% in January, compared to 2.3% advance in December. The current inflation level is above central bank's target rate of 2.0%.
D 1.0770 while Kiwi gained 1.0% to USD 0.8406. Currently AUD/USD is trading at US
The finance ministers of Euro Zone today in Brussels will attempt to close the talks related to Greece's second rescue package, write-offs among creditors and the role the ECB will play. Finance ministers are expected to finally reach an agreement, said Maria Fekter, Austrian FM. In case FMs will not manage to come to a consensus, the next round of talks will
Japan's trade deficit widened in January as slowing global demand and stronger Yen harmed local producer's profits and hindered country's recovery from March earthquake. The trade gap expanded to JPY 1.48 trillion (USD 19 billion) while shipments declined annual 9.3%. Economists questioned by Bloomberg predicted a deficit of JPY 1.46 trillion.
German DAX index posted gains on Friday on news ECB and European officials are progressing in closing agreement with Greece and US issued satisfactory economic data. Financial and car maker shares were the main gainers with Commerzbank AG adding 1.7% and Deutsche Bank AG surging 1.3%. Volkswagen AG jumped 2% after the car manufacturer posted a 1.3% advance in global
British FTSE 100 index traded higher on Friday, lifted by fresh news from Greece debt swap talks and data, indicating US economy keeps accelerating. Resource shares contributed most to the positive side. Anglo American PLC added 1.3% after company posted a 6% decline in net income but claimed it had optimistic long term outlook. Randgold Resources soared 1.8% while Tullow
Asian markets finished notably higher on Friday, lifted by US economic data and weaker Yen. Exporters supported major stock indexes on the upside. Hong Kong's Hang Seng Index jumped 1%, Japan's Nikkei Stock Average rallied 1.7% while South Korea's Kospi added 1.3%. Australia's S&P/ASX 200 gained 0.4% and Shanghai Composite index traded flat.
Japan's Nikkei Stock Average rocketed on Friday after Japanese currency plunged to 4-month record low on Goldman Sachs forecast the Yen will continue to decline. Nikkei 225 jumped 1.71% or 157.85 points and closed at 9,395.95 fuelled by export shares. Honda surged 2.4% while Toyota Motor and Mazda Motor each gained 0.6%. Inpex rallied 4.8% on accelerating crude prices. Trend
Hong Kong's Hang Seng index erased previous day's losses and rallied on Friday, supported by economic data and earnings reports. Hang Seng index rose 1.01% or 214.34 points and settled at 21,491.62 with exporters and financials climbing most. China Life Insurance gained 3.5% and Ping An Insurance Group added 1.6%. Foxconn International Holdings advanced 0.7% and Esprit Holdings jumped 5%
Dow Jones Industrial Average Index recovered on Thursday on positive job and housing data amid renewed optimism about Greece, as country expects to get bailout approval on February 20. Blue Chip index advanced 0.96% or 123.13 points and closed at 12,904.08 with 29 of 30 stocks posting gains. Microsoft led the gains, jumping 4% on news S&P is likely to
S&P 500 index rallied on Thursday as investors anticipated news the jobless claims fell to a three-year record low in January while housing starts surged. US benchmark jumped 1.1% or 14.81 points and finished at 1,358.04 with all 10 sectors posting gains. J.M. Smucker tumbled 8% after its net income and revenue missed estimates. The company raised prices for Jif
The New Zealand and Australian Dollars maintained weekly advances on news ECB is exchanging Greece's bills for new securities. Kiwi gained extra upward momentum as A. Bollard, New Zealand central bank's Governor claimed nation's economic performance to be understated. Kiwi appreciated 0.5% against US Dollar to USD 0.8368 while Aussie gained 0.2% to USD 1.0775. Currently AUD/USD is trading at USD
The number of new house start ups rose more than expected in the US in January, reported Commerce Department on Thursday. Starts added 1.5% to annual 699 000 compared to 689 000 in December. Economists questioned by Bloomberg predicted on average a growth of 675 000. The number of building permits also surged in January. Analysts suggest upward momentum in construction was
Canadian Dollar appreciated on Thursday as US Labor department reported record low number of unemployment claims received in the week ended February 11. Loonie climbed 0.3% against US Dollar to CAD 0.9966 after a sharp depreciation in previous trading sessions. Currently USD/CAD is trading at CAD 0.9965.
US stock markets recovered on Thursday as Americans last week filled the lowest number of jobless claims since 2008. S&P 500 index jumped 1.1% or 14.81 points and finished at 1,358.04, Dow Jones Industrial Average Index added 0.96% or 123.13 points and closed at 12,904.08, while Nasdaq Composite rallied 1.51% or 44.02 points to 2,959.85 lifted by Apple and Microsoft.
Americans filled the lowest number of unemployment claims last week since 2008, indicating recovering US labour market may support nation's economic growth. Jobless applications fell by 13 000 during the week ended February 11 to 348 000, outperforming even the most optimistic forecasts of analysts. The median forecast totalled 364 000 claims.
April gold futures traded higher on Thursday, adding USD 0.3 to USD 1,728.40 per ounce. Silver futures to be delivered in March lost 0.1% to USD 33.37 per ounce while March palladium futures jumped 1.9% to USD 696.60 per ounce. In contrast, April platinum futures tumbled 0.7% to USD 1,626.10 per ounce.
Benchmark crude futures for March deliver added 0.24% or USD 0.23 to USD 102.54 per barrel, lifted by successful Asian stock market performance. In contrast March natural gas futures lost 1.09% or USD 0.03 and traded at USD 2.54 per million British thermal units.
Chinese foreign direct investment slowed 0.3% in January, posting the third consecutive drop in three months on weakening demand from Europe, said Ministry of Commerce on Thursday. Monthly investment inflows totalled USD 10 billion compared to USD 12.2 billion in December. Inflows from EU tumbled 42% from previous year to USD 452 million. In contrast FDI from US surged 29% to USD
European creditors are struggling to assure that bailout financing is spent properly. European finance officials demand particular mechanisms to pledge the successful implementation of rescue program. Greece is obligated to meet all requirements set by EU and IMF to receive second bailout financing and repay debt on March 20.
Ex-chairman of Olympus Tsuyoshi Kikukawa and other former executives were arrested Tokyo prosecutors on Thursday in connection with an accounting fraud involving a cover up of investment shortfalls. Former executives Hisashi Mori, Hideo Yamada, and Akio Nakagawa, were also arrested as they are suspected of breaching the Financial Instruments and Exchange Law via faking financial statements.
European shares traded down on Thursday amid worries EU FMs may cancel rescue package for Greece and Moody's rating agency threatened to cut credit ratings for more than a hundred large-scale global lenders. German DAX and FTSE 100 index each fell 0.1% to 6,751.96 and 5,885.38, respectively. In contrast French CAC 40 index and Stoxx 600 Europe index closed 0.1% up at 3,393.25 and 264.31,