U.S. equities gained on Friday, yet posting the second weekly decline in 2013 for the S&P 500 Index, as optimism on Cyprus' ability to come up with a bailout plan rose and Nike Inc. and Tiffany & Co. data release on corporate earnings topped analyst estimates. The S&P 500 Index climbed 0.7% to 1,556.89 on Friday. All sectors in the
A three-week long rally of gold ended on Monday as the commodity decreased in London after global shares recorded a one-week high amid Cyprus's decision from yesterday night to agree with the new Eurozone's bailout plan. March Gold futures declined 0.4% to $1,602.76 an ounce earlier on Monday London session, while futures for June delivery dropped 0.3% to $1,603.50 on
Hong Kong shares rose on Monday, as the EU and Cyprus policy makers reached a bailout deal, thus reducing the risk of Cyprus unprecedented default. The Hang Seng Index advanced 0.7%, or 135.85 points, to 22,251.15. The gauge has recovered from its biggest decline since August 2012. Seven out of nine sectors posted gains with oil and gas and basic
Japanese equities advanced, as Cyprus policy makers agreed to the outlines of a bailout. The Nikkei 225 rose 1.7%, or 207.93 points, to 12,546.46, registering its highest value since September 2008. All sectors included in the gauge posted gains with consumer services and telecommunications adding 3.8% and 2.3%, respectively. 168 out of 225 companies posted gains in their stock prices.
U.S. blue chips surged on Friday on rising hopes Cyprus parliament will approve a plan to pass necessary conditions for receiving a bailout. The Dow Jones advanced 0.6%, or 90.54 points, to 14,512.03. 9 out of 10 sectors and 22 out of 30 companies included in the gauge jumped during the trading session. Consumer services and industrials added 1% both,
The Stoxx Europe 600 Index rose by 0.8% to 296.44 points in early London trading session on Monday. The gauge recovered from a last week's 1.1% drop. Investors were willing to purchase European equity, as Cyprus reached an agreement with international lenders on a bailout package. This deal will bring more certainty in capital markets and sharply reduce the risk of Cyprus
The British Pound slightly appreciated to $1.5235 in the very early morning of London trading session on Monday. The Sterling reached the highest level versus the U.S. Dollar since February, as macro data indicated that U.K. house prices advanced by 0.3% in March and that was the best performance in three years.
The Shanghai Composite Index was slightly lower at 2,328.8 points in the afternoon of Shanghai trading session on Monday. The index consolidates after last week's rally of 3.9%. Today telecommunication industry depreciated and led the market overshadowing China Construction Bank Corp. better than expected profit. Investors wait for more data on earnings, as market lacks of drive to appreciate further.
WTI oil futures for May settlement were higher by 54 cents to $94.25 a barrel on New York Mercantile Exchange in Singapore trading session on Monday. WTI appreciates for a second straight session, as Cyprus reached an agreement with European finance ministers and international lenders on a bailout plan. This deal eases concern that the European debt crisis will get
The Euro increased by 0.4% to $1.3040 and 0.7% to 123.63 versus the Yen in the second part of Tokyo trading session on Monday. The 17-nations currency appreciated as European finance ministers approved a bailout deal for Cyprus. International creditors agreed to provide a 10 billion Euro emergency loan to Cyprus, what will reduce a potential default risk and uncertainty in capital
The MSCI Asia Pacific Index increased by 1% to 135.61 points by midday trading session in Tokyo on Monday. The gauge, tracking the major Asian stock indexes, recovered from the worst weekly performance in seven previous months. Today equity markets were higher, as Cyprus reached an agreement with the troika and eliminated a possibility of its default.
Precious metals were mixed on Friday amid easing concerns over Cyprus bailout. Cypriot President Nicos Anastasiades has approached the EU leaders with the new plan on the bailout that would only tax deposits over EUR100,000. At the same time, weaker US Dollar coupled with expectations of robust physical demand in India supported the commodity sector. Gold declined as easing worries over
Industrial metals jumped on Friday on improved sentiment after Cypriot lawmakers worked out the new plan to receive the bailout. Boosting the metals further, the US Dollar continued to slide against its major counterparts. However, rising LME stocks limited gains of the commodity group. Aluminum surged on buying on the dips and prospects of production cuts. At the same time, elevated
Energy futures were mixed on Friday amid weaker US Dollar and hopes for an agreement on Cyprus bailout. Furthermore, a recent Fed's decision to stick to its current monetary policy lifted energy futures. At the same time, disappointing readings of the Eurozone's flash PMI data limited gains. Crude oil climbed as eased worries over Cyprus bailout deal bolstered demand for growth-sensitive
The MSCI Emerging Markets Index advanced by 0.9% to 1,024.44 points at the midday trading session in Hong Kong on Monday. Last week the index was close to the lowest level since 22nd of December, but today it gained the most since Mar 11, as Cyprus reached an agreement with the troika. This deal will allow Cyprus get 10 billion
Farm commodities were divided on Friday on speculation that shipping delays from Brazil will increase demand for US supplies. Moreover, abnormal weather conditions in Argentina and in the US Great Plains added to gains of grain futures. Wheat rose on concerns that snow and wet weather in the key growing states in the US are delaying spring planting. However, the
Gold for instant delivery advanced 0.3% to $1,613.76 an ounce at the midday trading session in Singapore on Monday. The price of gold increased even after Cyprus announced an agreement with international lenders about a bailout, as concern remained in the market that European region governors will face additional issues dealing with the sovereign debt crisis.
Taiwan's jobless rate declined for the fourth month in a row in February, when the total figure of unemployed persons reached 483,000 on the month, a data released by the Directorate-General of Budget, Accounting and Statistics showed on Friday. The jobless rate dropped from 4.2% in January to 4.16% in February, while it was forecast to stay unchanged in the
Jobless rate in Luxembourg remained flat at the historical high levels in the month February, when the total number of unemployed people reached figure of 17,363 annually following a January's 17,408 unemployed persons, the statistical office reported on Friday. The unemployed rate was 6.4% in February, the same figure like in January and December.
India's shares decreased on Friday recording a six-day losing streak with the benchmark Indian index reaching its worst weekly drop in a 15-month period after political instability together with limited room for interest rate cuts brought fear on markets. The Standard and Poor's BSE Sensex fell 0.3% to 18,735.60 on Friday, the lowest level since November 26, while the index
Retail sales in Cyprus declined significantly in the month of January, however, the pace of the decline was slower than a month before, the nation's statistical office reported on Friday. The report showed that retail sales in volume terms decreased 27.6% on a monthly basis compared to a 28.3% fall the month before, while on an annual basis the retail
Unemployment in Norway stayed flat in the month of March remaining at the same level for the third month in a row, data released by employment research agency NAV unveiled on Friday. The data said the jobless rate was in line with economists' expectations at 2.7% in March, however there were 1,200 more unemployed people in the same month. The
The Euro advanced by 0.7% to $1.2990 at the midday trading session in New York on Friday. The currency reached a 1.30 benchmark for the first time this week, as investors traded positively on speculation that Cyprus is getting closer to an international agreement, which will help to avoid a financial collapse.
Italian 10-year bond yield decreased by six basis points, or 0.06 percentage points, to 4.53% in the end of London trading session on Friday. Bond prices increase for a third straight day, as Cyprus signals about getting closer to a deal, which will result in an international bailout. Traders consider a current situation as a buy opportunity, assuming that the agreement will