Chinese stocks grew for the second day on Friday following an unprecedented government intervention to stabilise its plunging stock market. The Shanghai Composite Index surged 4.5% to 3877.8 points intraday adding to the previous day's 5.8% gain. Index's rebound pared losses to 25% since its highs in June 12.
The New Zealand Dollar traded slightly higher against the Greenback on Friday, as investors focused on the Greek crisis and upcoming Janet Yellen's speech about the US economic outlook. The Kiwi rose 0.2% to 0.6753 against the US Dollar by 8:40 AM GMT, thus the Kiwi is higher for the third straight day. The Reserve Bank of New Zealand is
Gold inched higher on Friday, as the Euro strengthened on hopes that Greece will not exit the Euro zone by accepting a deal from its creditors. Spot gold was 0.3% higher to $1,162.5 an ounce by 8:15 AM GMT. On Wednesday gold touched the $1,146.75 an ounce on Wednesday, the lowest price since March 18th. The Euro strengthened against the
Stocks across Europe traded higher on Friday, as investors felt optimistic that a deal will be signed between Greece and its creditors. The Stoxx 600 Index gained 1.6% to 387 points, the DAX 30 jumped 2.2% to 11,237 points, and the FTSE 100 rose 0.9% to 6,656 points. Meanwhile, the CAC 40 added 2.45% to 4,874 points, and the Spain's
Oil futures rallied on Friday amid rebound in the Chinese stocks and the weakening Dollar, while investors kept an eye on Iran's nuclear talks. New York-traded NYMEX traded 1.8% higher to $53.70 a barrel and the London-traded Brent Crude rose 1.7% to $59.85 a barrel by 7:20 AM GMT. On Friday, major Chinese equity indexes rallied between two and five
Bank of England decided to leave its policies unchanged amid mixed signals from macroeconomic data and the uncertainty over Greece's future in the Euro zone. England's central bank kept its key benchmark interest rate at 0.5%, which has not changed since March 2009. Economists predict that the Bank of England's first interest rate hike will come in the Q1 of
Chinese stocks rose the most in six years on Thursday, while rest of the stock markets in Asia-Pacific region added modest gains. The Shanghai Composite jumped 5.8% to 3709.33 points, the Hong Kong's Hang Seng Index rose 3.7% to 24,393 points, while the Nikkei 225 gained 0.6% to 19,856 points. Meanwhile, Sensex fell 0.4% to 27,574 points and the Australia's
Stock markets across Europe rose on Thursday, as the Chinese stock market regained some of its losses and the deadline for the Greek talks approached without a deal in sight. The Stoxx 600 soared 1.6% to 379 points, the DAX 30 gained 1.5% to 10,911 points, while the FTSE 100 rose 0.9% to 6,547 points. Meanwhile, the IBEX 35 added
Germany's trade surplus swelled to a record-high in May on increasing foreign demand for German goods. Europe's largest economy's trade surplus rose to 22.8 billion euros from 21.5 billion euros in April, however, economists had forecasted only a surplus of 20.3 billion euros. Moreover, exports increased by 1.7% from previous month to 102.1 billion euros, while inbound shipments rose 0.4%
Bank of England will most probably not raise the rates on Thursday, following the Greek uncertainties and unconvincing domestic economic picture, therefore keeping it at a 0.5% level. UK inflation in May was 0.1%, far from the BOE's target of 2%, meanwhile some concerns about downward pressure are raised by the appreciating Sterling.
Crude futures gained on Thursday, as the Chinese equity markets rallied approximately 5.5% on the day. However, investors are still cautious about the Chinese stock market, crisis in Greece and rising crude reserves. New York-traded WTI rose 1.6% to $52.48 a barrel, while London-traded Brent Crude added 1.1% to $58.02 a barrel by 7:15 AM GMT. During the past week
The Yen traded higher against the Dollar and the Euro on Wednesday, amid turmoil in Greece and selloff in China. The Yen rose 0.5% higher to 134.02 against the common currency while it rose 0.8% to 121.53 against the Greenback by 8:00 AM GMT. Moreover, Japan's current account surplus in May reached 1.8 trillion yen, which is the biggest figure
Gold prices declined to four-month low, as investors chose other safer assets amid the Greek crisis and bear stock market in China. Bullion futures fell 0.4% to $1,147.5 per ounce by 7:30 AM GMT. Analysts stated that the selloff in Chinese equities is pushing commodity prices lower, and the uncertainty over Greece is forcing investors to sell commodities and invest
The shared currency contracted on Tuesday amid deepening political uncertainty regarding Greece. Intraday the Euro zone's currency sank 0.9% to 1.0959, which is the lowest level since June 2015. Nevertheless, the Greenback is also affected by essential US data, while the investors are monitoring the Fed on its decision to raise interest rates September.
Australia's stock markets closed higher on Tuesday with main contributors coming from financial, telecom services and consumer discretionary sectors. The S&P/ASX 200 added 1.94% to 5,581.4 points, while the S&P/ASX 200 VIX showing the S&P/ASX 200 options' implied volatility contracted 11% to 17.8 points.
Stocks in European markets retreat, especially those recognized as vulnerable to Greece's contagion. Italy's and Portugal's stocks sank more than 3.8%, while benchmark indexes lost 2% in Germany and France on Monday. Moreover, half of the 18 stock markets in Western Europe have lost at least 10% of their value from the 2015 highs.
US stocks are set to open lower on Monday, as worries over possible Greek exit from the Euro zone increased. The futures for Dow Jones Industrial Average fell 0.8% to 17,514 points, the S&P 500 futures dropped 0.7% to 2,054 points, while Nasdaq 100 Index was down 0.8% to 4,392 points by 11:40 AM GMT. The selloff occurred after approximately
On Monday, oil futures declined sharply after Greek voters said ‘no' to international creditors' demands for a bailout plan. New York-traded Crude declined 4.7% to $54.26 a barrel, while the London-traded Brent Crude traded 2.9% lower to $58.57 a barrel by 11:15 AM GMT. Moreover, oil prices were affected by high levels of oil-inventories in the US and the possibility
European shares plummeted and the shared currency depreciated, following the Greek voters' elimination of austerity measures, forcing the investors to choose safety of the bunds. The Stoxx Europe 600 slid 0.6% to 381.11 points by 10:30 AM GMT after the index tumbled 3.4% last week. Meanwhile, ten-year government bunds paid 0.73% versus 2.32% and 2.29% on Italian and Spanish bonds
The Swiss statistic's office stated that the CPI for the month of June saw a 0.1% rise, compared with a increase of 0.2% in May. The cost of living decreased 1%, compared to the June of 2014, lower than the market expectation of a 1.2% decline. The strengthening Swiss Franc has had its effects on the Swiss economy, as the
The Euro recovered some of the losses against the Dollar, after Yanis Varoufakis has surprisingly stepped down as the Greek Finance Minister. The common currency traded at 1.1058 against the greenback, or 0.5% lower by 7:30 AM GMT. After the results of the Greek referendum the Euro declined below the 1.10 level, as the the results increase the possibility of Greece's
Bullion spot prices inched up on the London exchange, after the US Bureau of Labor Statistics announced the last month's non-farm payrolls below the expectations, which resulted in the weaker Greenback. Gold was growing 0.4% to $1,167.60 per troy ounce at the start of European trading Friday. Among other precious metals, platinum was trading up 0.5% to $1,084.06 an ounce.
European shares contracted towards the biggest weekly decline in two months, while closely monitoring discussions over Greece referendum. The FTSEurofirst300 fell 0.2% to 1,524.75 by 07:00 AM GMT, in total reaching 3.1% drop for the week. Meanwhile Stoxx600 index retreated 0.1% to 385.01 by 09:45 AM GMT.
Crude-oil prices declined on Friday on US oil production and rig count increased. The New York-traded Crude futures fell 0.7% to $56.54 a barrel, while the London-traded Brent Crude futures slipped 0.7% to $62.13 a barrel by 9:00 AM GMT. The US oil-rig count increased for the first time in 29 weeks, as in the past week oil-rig figure increased