West Texas Intermediate crude fluctuated on Tuesday traded close to the lowest level in more than a four-month period amid concerns that stockpiles in the world's largest consumer, U.S., increased for the seventh straight week. WTI for settlement in December added 8 cents to $94.70 a barrel on the NYMEX as of 2:30 p.m. in Singapore, after it reached the
The Bank of England is expected to increase its benchmark interest rates in the second half of 2015 before the nation's unemployment reaches a level of 7%, which is forecast to happen in early 2016, a report published by the National Institute of Economics and Social Research. Britain's central bank has maintained its rate at historic low 0.5% since 2009.
Retail sales in the United Kingdom increased in September rising at a faster rate than in the previous month, however, clothing sales declined on mild weather in the area, a report released by the British Retail Consortium showed on Tuesday. According to the report, the country's retail sales advanced 2.6% on an annual basis in October after gaining 2.4% in
Stocks on Wall Street inched up on Monday trading session as the trading volume stayed low signaling that investors waited for a payroll report due Friday and as S&P 500 Index traded just below its all-time closing high. The Dow Jones Industrial average climbed 0.15% to 15,639.12, the S&P 500 index rose 0.36% to 1,767.12 and the Nasdaq Composite index
The Aussie depreciated against its all 16 major peers, after RBA Governor Glenn Stevens announced, that the Australian Dollar is "uncomfortably high". The Australia's currency slid 0.4% versus the U.S. Dollar, after it strengthened 0.8% yesterday. The Aussie tumbled 0.6% against the Japanese Yen, having the largest drop among other counterparts. The Australian Dollar has advanced 4.7% in last three
Factory orders in the United States added 1.7% in September of this year, while the orders for new aircraft surged and helped the overall indicator to increase. At the same time, plant orders excluding aircraft decline as much as 1.3%, showing the overall weakness amid U.S. government recent budget crisis. Moreover, the August factory orders showed a 0.1% decline, despite
New cars' registrations in Europe continued to increase for the second consecutive month in October. German car sales added 2.3%, as VW climbed 1.9% and Opel jumped 12.1%. French consumers bought 2.6% more cars with domestic PSA Peugeot Citroen increasing sales by 4.1%. Spanish car market, in turn, surged as much as 34.3% in October amid state support program for
According to the latest data, Italian manufacturing continued to expand in October of this year, while the benchmark PMI index, which shows either rise or decline in activity, decreased to 50.7 points. In September the index stood at 50.8 points and economists predicted it to advance to 51 points. Moreover, analysts point on the political instability in Italy that prevents
According to the economists' forecasts, the economic growth in the United States slowed to 2% in July-September of this year from 2.5% a quarter ago. Analysts explain such a decline by the government Shutdown, when some companies decided to cut jobs, increasing the unemployment level. Moreover, the payrolls' advance dropped to 125,000 in October from 148,000 in September.
British construction industry surprisingly increased the pace of growth to its largest level since 2007. The benchmark PMI Index, which measures the level of activity in this particular sector of the U.K. economy, surged to 59.4 points in October from 58.9 points in September, while analysts predicted the index to decline. Alongside, the reading above 50 points indicates the rise
According to the new outlook of the U.K. Confederation of Industry, the country's economy will advance 1.4% in 2013, while the next year economic expansion will reach as much as 2.4%. The outlook was raised from 1.2% and 2.3%, respectively. Economists say that economy in Britain will grow faster than in continental Europe, as all the main industries will show
HSBC Holdings Plc, the largest bank in Europe by value, reported its earnings for the third quarter of this year, as the profit jumped 30% to $4.53 billion from $3.48 billion a year earlier on costs' cuts. At the same time, economists predicted the profit amount to reach $5.54 billion. Today, HSBC Holdings Plc shares are adding 3.27% to 709.80
European stocks reported gains as investors are waiting for Purchasing Managers' Index reports from Germany, France, the UK and the whole Eurozone. The French CAC 40 advanced 0.19% while the Euro Stoxx 50 jumped 0.25% and Germay's Dax gained and 0.28%.The largest climb was for the UK's FTSE, which surged 0.41%. For the most Euro-area countries PMI reports are expected
Euro Stoxx 50 Index futures jumped 0.4%, after a four-week climb of the Stoxx Europe 600 Index. Today the Stoxx 600 Index continues to advance as it surged 0.4%, after Dufry AG rallied 2.1% on report of gains in revenue. PostNL NV climbed 4.8%, while the European largest discount airlines Ryanair dropped 7.5%, after reducing profit forecasts. Last week Stoxx
Service sector in the world's second largest economy increased in October at a faster pace than in the month before, the latest date revealed by the National Bureau of Statistics showed on Monday. According to the report, the service sector purchasing managers' index rose from 55.4 in September to 56.3 recorded in October, while in August the figure was 53.9.
Spain's sovereign credit rating was upgraded from ‘negative' to ‘stable' by the rating agency Fitch Ratings stating that the government has made a notable progress in fiscal policy and the bank sector reforms were efficient. Fitch's rating of the nation's long-term debt and senior unsecured bond stayed at ‘BBB', while short-term foreign currency IDR is ‘F2' and country ceiling at
The Reserve Bank of Australia is forecast to keep its benchmark interest rates unchanged at a historic low 2.50% for the third successive time on Tuesday's policy meeting amid positive momentum of the country's economy presented by most reports. The Australian central bank has cut its cash rate by a cumulative 2.25% since November 2011.
U.S. Treasuries increased on Monday with the benchmark 10-year yields snapping a three day series of gains before a speech held by two Federal Reserve voting members as investors expect the central bank tapper off its stimulus program. The U.S. 10-year government yields slipped one basis point to 2.61% by 7:19 a.m. London time after the prices gained 12 basis
The majority of China's shares increased on Monday after a government data revealed that service industries in the area accelerated at a fast pace in seven months in October and as technology companies advanced. The Shanghai Composite Index traded at 2,149.64 with five stocks rising for every three falling as ZTE Corp. and Beijing Zhongke Sanhuan High-Tech Co. gained 3%.
German government bunds continued to increase on Monday before a government report showed that manufacturing sector in France contracted in the month of October signaling a slow-down of the sector for the whole Eurozone. German benchmark 10-year yields were at 1.68% as of 7:20 a.m. in London after the rates dropped to the weakest level since October 31 at 1.65%.
Gold declined on Monday falling for fifth day and was set to complete the largest drop in three months after a government report showed that manufacturing activity in the U.S. advanced to the strongest level in two years signaling no further stimulus by Fed. Bullion for delivery in November slipped 0.3% to $1,312.34 an ounce and was traded at $1,313.07
Copper slipped on Monday leading drops in industrial metals as it fell for a third day after Asian shares shrank amid speculation that the Federal Reserve may scale back its stimulus sooner than forecast. The metal for settlement in February slid 0.7% to $7,197 a metric ton following a 0.3% increase recorded earlier on the session, while it traded at
The Australian Dollar increased on Monday recording its largest climb in a two-week period after a government report revealed that retail sales in the country accelerated at the fastest rate in seven months signaling no further rate cuts by the RBA. The so-called Aussie added 0.5% to 94.88 U.S. cents as of 5:02 p.m. Sydney time, while the Kiwi Dollar
Emerging-market equities declined on Monday pushing the benchmark index towards the weakest level in three weeks as protests against the local government in Thailand dragged down the stock prices and South Korean largest financial company dropped for a fourth day. The MSCI Emerging Markets Index slipped 0.2% to 1,026.01 at 2:07 p.m. Hong Kong time.