FTSE 100 Index climbed on Wednesday, supported by financials and oil providers on better than expected data from UK, Germany, China and Euro Zone. British benchmark index rallied 1.4% during session, lifted by broking company ICAP PLC which added 6.6% after making optimistic forecasts for 2012. BP Plc. climbed 3% after the court decided that company don't have to cover
After a sharp appreciation yesterday, Hong Kong's Hang Seng index retreated on Wednesday, pushed down by investor worries that positive manufacturing data will curb Chinese government from implementing monetary easing. Hang Seng index slipped 0.28% or 57.12 points and settled at 20,333.37. Food producer and distributor Cosco Pac surged 4.5% and Belle Internatio climbed 3%. On the downside were property
Grain commodities advanced while sugar and coffee futures edged down. Grain commodities continued to drew support from the expected supply cuts in South America after unfavorable weather conditions that harmed the plants. At the same time, coffee was the top loser despite 30 year low Arabica coffee crop in Colombia. Sugar started Tuesday on the opposite note as drought harmed
Energy markets faced mixed performance on Tuesday despite stronger Asian equities and negative economic data from the US. Investors also await a report on the US oil inventory stockpiles that is expected to indicate a decline. Natural gas was the top loser, dropping 7.24% on the mild weather forecasts in 48 states of the US. Moreover, US official data showed
Industry metals fell on Tuesday as German retail sales dropped and consumer confidence in the US has worsened. At the same time, LME inventories of base metals faced a decline. Moreover, cancelled warrants for copper and nickel inched up, reflecting stronger spot demand. Aluminium was one of the top losers, falling by 1.8%. Aluminium faced weaker spot demand as cancelled
Precious metals, excluding gold, dropped on Tuesday despite gathering momentum on the depreciating US Dollar after disappointing US consumer confidence and Chicago PMI data. Gold, the only gainer, found additional support on the Fed's decision about keeping low interest rates till mid-2014. At the same time, ETF silver purchases increased due to lower price. Value of the US Dollar and
Clothing retailer Esprit Holdings plans to close all its North American stores as the company failed to sell the unprofitable unit. Esprit is attempting to cut costs and recover from 98% earnings drop last year. Representatives of company admitted, Esprit did not manage to get and maintain the market share in North America. Following the announcement Esprit shares lost 1.4%.
Indonesia's Rupiah and South Korean Won depreciated sharply this week as statistics showed economic outlook is worsening in the region. South Korea's exports declined first time since 2010 while several Asian countries including India and Thailand were forced to cut benchmark rates to support growth. The Rupiah lost 0.4% and traded 9,035 per Dollar while South Korea's Won weakened 0.3% to
Japan's Nikkei Stock Average closed slightly higher on Wednesday, lifted by financial stocks. Nikkei 225 index gained 0.08% or 7.28 points and finished at 8,809.79. Sumitomo Mitsui Trust Holdings jumped 3.4% and Mitsubishi UFJ Financial Group added 2.9%. All Nippon Airways surged 6.8% after company expanded its expectations for operating profit. Shipping companies also supported the index on the upside,
Dow Jones Industrial Average Index maintained its downward trend on Tuesday as US consumer confidence index dropped to 61.1 instead of predicted increase to 68.2. Blue chip index fell 0.16% or 20.81 points and finished at 12,632.91, weighted down by Exxon Mobil. The oil giant lost 2.1% on its worse than expected production report. Financials supported the index on the
UK production index rallied to eight-month record high during January 2012 and reverted back to expansion as British manufacturing rebounded. The plant gauge climbed from 49.7 in December to 52.1 in January. Economists questioned by Bloomberg predicted the figure to be at 50. The reading below 50 indicates contraction while the figure above means expansion.
S&P 500 Index slightly faded on Tuesday as US reported lower than expected consumer confidence amid declining home prices. US benchmark gave up 0.05% or 0.6 points and closed at 1,312.41, pushed down by energy shares. Mattel Inc. gained 5% after reporting strong results from 4th quarter, lifted by robust demand for Barbie and Monster High dolls. US Steel Corp.
House price in the US fell much more that initially projected in November. US prices for single-family houses declined by 0.7%, confounding the forecast of 0.5% increase. House price leveled off at the level of 2003 on the oversupply and weak demand. Consumer confidence also decreased in January, following gains over two preceding months.
US markets ended lower on Tuesday amid disappointing US consumer confidence data. Nevertheless, stocks posted the best January in the last ten years. S&P 500 index slipped 0.05% or 0.6 points and closed at 1,312.41, while Dow Jones Industrial Average Index gave up 0.16% or 20.81 points and finished at 12,632.91. Nasdaq Composite was up for the third straight session, gaining 0.07%
Australia's housing prices fell in 2011, making the biggest annual drop since 2002. The gauge estimating prices in eight biggest cities slipped 4.8% compared to previous year. Prices edged down 1% on quarterly basis. Sharp drop in prices might be associated with uncertainty about global economy and its possible effect on property market, suggest analysts.
Australian Dollar extended gains on Wednesday as investors positively anticipated news the manufacturing in China expanded in December. In contrast New Zealand Dollar depreciated amid weaker stock markets and disappointing US data. Aussie strengthened to USD 1.0607, while Kiwi dropped 0.2% to USD 0.8234. Currently AUD/USD is trading at 1.0575 and NZD/USD is trading at USD 0.8216.
An index measuring US consumer confidence unexpectedly fell in January as outlook for existing business environment and employment worsened. The confidence gauge dropped from 64.8 in December to 61.1 in January. Analysts suggest the recent decline in sentiment can be associated with a surge in gasoline price. Economists earlier predicted the confidence measure would climb to 68.2.
Canadian Dollar depreciated versus greenback on Tuesday as US consumer confidence unexpectedly fell, cooling investor optimism over global recovery. Canada's currency slipped 0.1% against US Dollar and traded at CAD 1.0026. Currently USD/CAD is trading at CAD 1.0036.
Preliminary estimation showed that RBA Index increased by 0.2% in SDR terms, following decline by 1.3% in the preceding month. The top contributors to the index appreciation were prices of oil and gold. Industry metals and agricultural commodities also stimulated rise of the index. However, the ongoing fall in the coal price limited the gains.
Crude oil futures advanced in electronic trade early on Wednesday ahead of the US weekly inventory report. Crude oil futures for delivery in March traded at USD 98.70 per barrel during Asian session, on the New Mercantile Exchange, gaining 0.2%. However, during the US late trade on Tuesday, oil lost 0.3% on the stronger US Dollar and negative economic data
UK home prices declined in January amid UK economy's contraction in Q4 of 2011. The typical house price lost 0.2% in January and weighted down on the annual house price inflation, pushing it to 0.6% as compared to 1% in the preceding months. Analysts expect the balance between supply and demand to move further to the outweighing supply thus creating
Canadian economy unexpectedly contracted in November, pushed down by crude manufacturers' shutdowns and the decrease in natural gas production. Canada's GDP fell 0.1% to USD 1.27 trillion in November for the first time in 6 months, said Statistics Canada. Economists questioned by Bloomberg predicted an increase of 0.2%.
Australian manufacturing activity remained in the positive area last month, reported Australian Industry Group. The PMI for January added 1.4 points, approaching 51.6 in January. The largest contributors to the gains were delivery inputs and finished goods inventories. However, experts cited global economic uncertainty as the major factor curbing the growth.
The global demand for China's exports declined in January amid world's economic fears that dampened consumers' confidence. New export order index decreased from 48.6 to 46.9 in December while import index also faced losses, falling from 49.3 to 46.9 in December. Experts predict China's exports to fall further unless key importers like Europe and the US manage to resolve economic