European stocks fell on concerns world economic growth remains weak and before a data that may indicate industrial output in Eurozone declined in August. The Stoxx Europe 600 Index lost 0.3% to 270.05, falling 1.5% this week as the IMF lowered its world growth forecast and EU officials met to discuss the crisis in the Euro bloc.
South Korea's Won rose and government bonds fell for a second straight day as data indicated the U.S. unemployment claims declined to the lowest level in four years, boosting demand for riskier assets. The won gained 0.3% to 1,111.30 per U.S. Dollar. The Bank of Korea cut its benchmark interest rate to 2.75% yesterday and lowered its forecast for economic
Greece unemployment rate reached a record high of 25.1% in July, while the jobless rate among young people hit 54.2%. According to Greece's statistical authority, 1.26 million Greeks were unemployed in July, with roughly 1000 jobs lost daily over the past year. With further austerity measures and another year of recession, the jobless rate may increase further.
The Australian Dollar strengthened, trading 0.1% from one-week high as commodity price gains increased demand for the nation's currency. The Aussie Dollar gained 0.2% to $1.0283 from $ 1.0264 yesterday, when the currency touched $1.0294, the highest level since October 2. It rose 0.4% to 80.69 Yen. The New Zealand Dollar added 0.3% to 82 U.S. cents and it bought
The Japanese Yen weakened versus the major peers amid signs that the U.S. economy is gaining momentum curtailed demand for haven assets. The Yen lost 0.1% to 78.40 per U.S. Dollar from 78.34 yesterday, when the Yen fell 0.2%. Japan's currency declined 0.1% to 101.37 per Euro, after falling 0.6% to 101.27.
On Thursday, October 11, oil futures edged higher despite the fact the U.S. Energy Information Administration reported oil supplies rose more than expected in the week ended October 5. Crude for November delivery soared 1.1% to $92.43 per barrel. At the same time, crude stockpiles rose by 1.7 million barrels, above analyst's expectations of a 0.78 million barrel increase.
A sharper-than-expected fall in the U.S. unemployment claims sent European stocks higher on Thursday. The Stoxx Europe 600 Index gained 0.9% to 271.01. Germany's DAX Index edged higher 1.2% to 7,289.56 and France's CAC 40 Index rose 1.3% to 3,407.77
On Thursday, October 11, U.S. stocks extended gains after data showed jobless claims fell to a four-year low. The Dow Jones Industrial Average advanced 0.4%, to 13,401.9; the Standard & Poor 500 Index jumped 0.7%,, to stand at 1,441.95, while Nasdaq 100 futures added 0.8%, to 3,074.86. The total number of Initial applications for jobless benefits declined 30,000 to 339,000, above analysts' expectations for a
German equities rallied on Thursday after encouraging data from the US labour market. Restricting the upswing, the S&P cut Spanish debt rating to one level above ‘junk' status. However, Spanish concerns eased after the IMF head Christine Lagarde stated that indebted eurozone's nations should be granted more time to lower their budget deficit. The DAX Index surged 1.16% and is
UK shares moved higher on Thursday after US jobless claims fell more than expected last week. However, UK equities were depressed by unexpected Spain's debt rating cut by the S&P. Moreover, global growth concerns continued to weight on the riskier assets. The FTSE 100 Index soared 0.79% to trade at 5,822.46. Seven out of ten sectors within the index gained.
Hong Kong shares rebounded on Thursday amid rising hopes that the POBC will ease its prudent monetary policy to stimulate faltering economy. However, Hong Kong equities came under heavy pressure after S&P downgraded Spanish debt rating to one level above ‘junk' status. The Hang Seng Index gained 0.38% to end the session at 20,999.05. Five out of nine sectors included
Japanese equities prolonged their slump on Thursday amid mounting concerns that the firms will report weaker than expected results in the last quarter. Moreover, persistent global growth fears continued to weight down on the Japanese shares. The Nikkei 225 Index dropped 0.58% to close at 8,546.78. Only three in ten sectors within the index climbed. The top-gainers were technology firms
Number of first-time claims for jobless benefits dropped more than expected last week. According to Labour Department, applications for unemployment benefits decreased 30 000 to 339 000, the fewest since 2008, while economists projected 370 000 claims. The report "is consistent with a labour market that is gradually getting better,"Guy Berger, a U.S. Economist at RBS Securities Inc. "Layoffs are at
The U.S. trade deficit expanded in August due to weakening global economic growth, which decreased demand for U.S. exports. According to Commerce Department, the gap increased 4.1% from $42.5 billion in July to $44.2 billion. Exports fell to the lowest since February. Debt-stricken Europe, China's and other emerging economies' slower growth may curb demand for U.S. products. "For the first
The Dow Jones Industrial Average Index plunged 0.95% to close at 13,344.97 on Wednesday. US blue chips came under continuous pressure after the UMF cut its global growth forecast. Pushing the Dow Jones index lower, companies within the index are expected to report weaker than expected results as global economic problems hit sales. Only two in nine sectors included in
US equities extended previous losses on Wednesday as global growth concerns continued to dampen market sentiment. Moreover, disappointing reports from Alcoa and Chevron spurred speculation that US companies will announce losses for Q3. Meanwhile, traders remained cautious ahead of US unemployment claims numbers scheduled for Thursday. The S&P 500 Index tumbled 0.63% to close at 1,432.56. All but one sector
Rural commodities apart from wheat fell on Wednesday amid speculation that favorable weather conditions in Brazil and US may boost crops. At the same time, broadly stronger US Dollar created heavy pressure on farm commodities. Meanwhile, market players awaited the USDA global crops report due on Thursday. Wheat was the only gainer on speculation that lower crops worldwide will boost demand
Energy futures were mixed on Wednesday, with heating oil and natural gas climbing and crude and Brent oil falling. Escalated tensions between Turkey and Syria and a possibility that Iran will support Syria in the dispute sent energy prices higher. However, stronger US Dollar weighted down on the commodity group. Crude oil dropped in a volatile trade as investors attempted to
Australian consumers slightly raised their expectations of inflation to 2.6% in October, the Melbourne Institute Survey of Consumer Inflationary Expectations reported on Thursday. Still, the average expected inflation rate stayed within the RBA's target of 2-3%. Analysts are concerned that further acceleration of inflation expectations might translate into a real inflationary pressure on the RBA.
Base metals, excluding copper, prolonged their slump on Wednesday. The commodity group came under persistent pressure after the IMF lowered its global growth forecast. However, unexpected increase in Italian, French and Swedish industrial production last month restricted the downswing of industrial metals. Aluminum was the top-loser after the world's largest aluminum producer, Alcoa, cut its global demand growth forecast from 7%
Germany's EU harmonized index of consumer prices deteriorated in September, in line with preliminary expectations, the Federal Statistical Office released final data on Thursday. The HICP slipped to 2.1%, compared to 2.2% in August. On a month-on-month basis, the index stayed unchanged at 0.4%. Meanwhile, the CPI added 2% on year in September from 2.1 in the previous month.
Precious metals except for silver plunged on Wednesday as global growth fears pushed the US Dollar higher. The IMF reported that crisis in eurozone remained the biggest threat to the world's economy, thus spurring demand for safe-haven greenback. Meanwhile, market participants anticipated jobless claims data from the US due on Thursday. Gold sank as solid greenback created heavy pressure on the
Japan's household sentiment slightly weakened in September, after an improvement in the preceding month, the Cabinet Office said on Thursday. The seasonalized consumer sentiment index slipped to 40.1 from 40.5 in August, compared to 39.7 in July. Income growth expectations advanced to 39.7 in August from 39.6 in the previous month.
Australia's jobless rate climbed to a seasonalized 5.4% in September, the Australian Bureau of Statistics showed on Thursday. Economists expected a reading of 5.3%, while last month figure was at 5.1%. However, Australian economy increased the number of jobs by 14,500 in September, way above previous estimates of 5,000 jobs after a decline of 8,000 jobs in August.