UK shares are trading slightly lower on Friday amid increased cautiousness among market participants ahead of the results of Spanish banks' stress tests due later in day after the market close. Mixed news from Germany and Italy also weighted down on the UK stock index. The FTSE 100 Index slid 0.25% and is currently trading at 5,764.83. Six out of
Hong Kong equities extended previous gains on Friday ahead of 10-day long holiday. Chinese stocks continued to draw strength from recent injection of liquidity by the POBC. Moreover, positive headlines from eurozone pushed Chinese blue chips higher. The Hang Seng Index advanced by 0.38% to close at 20,840.38. Eight out of nine sectors included in the index surged. The biggest
Japanese equities tumbled on Friday amid concerns that revenues of Japanese firms in China are falling amid territorial tensions between two countries. Limiting the downswing, Spain announced fresh spending cuts presenting its budget for 2013. Moreover, slightly better than expected figures from the national real estate and job markets supported Japanese stocks. The Nikkei 225 Index lost 0.89% to end
The Dow Jones Industrial Average Index jumped 0.54% to close at 13,485.97 despite weak figures from the US labour and real estate market. US jobless claims dropped less-than-expected last week while US economic growth for Q2 was revised downward to 1.3% from 1.7%. Moreover, demand for durable goods dropped 13.2% in September compared to a forecast for a 4.7% decline.
US stocks rallied on Thursday despite negative economic data from the US. US equities were boosted by positive news from Spain. Spanish government approved severe austerity measures thus convincing investors that the country will be able to meet its financial obligations. The S&P 500 Index gained 0.96% to close at 1,447.15. All but one sectors within the index climbed. The
German 10-year bonds poised for a sixth straight quarter of increase before Spain announces the outcome of banks stress tests on belief the country will seek an economic bailout. The 10-year yield traded at 1.45% on Friday after dropping to 1.44% yesterday, the least since Sept. 5. The 1.5% note maturing in September 2022 was at 100.505. The yield has
French President Francois Hollande announced his first budget which cut spending and increased tax on the rich to 75%. The government plans to trim its budget shortfall to 3% of GDP in 2013 from 4.5% this year. GDP is estimated to add 0.8%. The spending cut is expected to save 10 billion Euro. Meanwhile, Agence France Tresor reported a reduction
Treasuries gained on Friday, increasing a second weekly advance, ahead of U.S. activity reports expected to show the economy mislays momentum. The 10-year yield slipped four basis points to 1.62%, after declining to 1.61%, the lowest since Sept. 7. The 1.625% note maturing in August 2022 added 11/32 to 100 1/6.
Gold advanced in London, extending the largest quarterly gain since June 2010 amid belief central banks' stimulus will boost investor demand. On Friday, immediate-delivery gold surged 0.2% to $1,780.810 per ounce in London, prices increased 11% from the end of June. Bullion at the morning "fixing" rose to $1.781 from $1.763 yesterday. Futures for December delivery added 0.1% to $1,783.10
Oil soared for a second day in New York and poised for the highest quarterly advance this year ahead of a report expected to post U.S. personal spending rise. On Friday, futures gained 0.9%, after adding 2.1% yesterday, the strongest in eight weeks. November-delivery oil rose86 cents to $92.71 per barrel and traded at $92.49. Same month Brent crude was
Commerce Department reported on Friday that spending of U.S. consumers rose just a bit in August, which showed that the U.S. economy still struggled to recover. Purchases of households increased by 0.5%, in line with analysts' expectations. However, after adjustment for a 0.4% increase in prices, the data shows that real spending added only 0.1%.
Most Asian stocks advanced on Friday amid Spain's budget decisions and belief Chinese policy makers will use additional stimulus measures to boost the economy. The Shanghai Composite Index rose 1.5%, while the Hang Seng Index, the Kospi and Taiex each increased 0.4%. Australia's S&P 200 Index added 0.1%, but Japan's Nikkei dropped 0.9% on low monthly industrial output.
U.S. stock futures were little changed on Friday, as investors were cautious on Spain's budget and ahead of reports on U.S. consumer income, spending and confidence. Dow Jones futures were steady at 13,414. Futures on the S&P 500 rose 0.04% to 1,442, while those on the Nasdaq Composite added 0.11% to 2,817.50.
European stocks inched up on Friday, after Spain announced spending cuts and tax rise costing 13 billion Euro, while traders awaited the Spanish bank stress test results later today. The Stoxx Europe 600 Index added 0.3% to 272.51. The IBEX 35 Index outperformed other Spanish indexes and rose 1%. The CAC 40 and DAX 30 indexes each advanced 0.4%, while
German equities advanced on Thursday after encouraging export prices data. German export prices climbed 1.3% in September compared to a forecast of 0.9% increase. However, persistent uncertainty over Spain's austerity measures capped the upswing of the index. The DAX Index added 0.14% and is currently trading at 7,286.94. All but one sectors included in the index surged. The top-gainers were
UK stocks erased previous losses on Thursday as the country's GDP contracted less than expected in August due to upward revisions to industrial output and construction. Moreover, speculation that China will announce easing measures to stimulate slowing economy provided additional support for UK shares. The FTSE 100 Index gained 0.16% to trade at 5,777.34. Seven out of ten sectors within
Hong Kong equities rallied on Thursday after the POBC injected CNY365 billion into the national banking system to ease liquidity conditions before the end of the quarter. However, dismal data from Europe capped gains of the Hong Kong blue chips index. The Hang Seng Index soared 1.14% to end Thursday's session at 20,762.29. All nine sectors included in the index
Japan's shares moved higher on Thursday amid improved market sentiment as PBOC pumped the record amount of capital into China's economy. However, Japanese equities remained under pressure as instability in Eurozone persisted. Meanwhile, market players anticipated key data releases from the US due later in the day. The Nikkei 225 Index advanced 0.49% to close at 8,949.87. Seven out of
US blue chips dropped further on Wednesday as pessimism over the QE3 weighted down on market sentiment. Negative headlines from Eurozone also pressurized US equities. However, the downswing was limited by the US new home sales data. US home sales missed expectations in August but remained close to two-year high. The Dow Jones Industrial Average Index slid 0.33% to close
US equities extended previous losses on rising pessimism over the QE3. On Wednesday, Federal Reserve Bank of Chicago president Charles Evans hinted that the Fed has to put more efforts to boost national economy. Dismal news from Eurozone also sent US stocks lower. Massive protests over fresh austerity measures lifted Spanish 10-year bond yield above 6%. The S&P 500 dropped
On Thursday, the British Pound pushed higher versus the U.S. dollar on disappointing U.S. and optimistic U.K. data. GBP/USD hit 1.6236 and subsequently consolidated at 1.6224, which was a 0.37% increase for the European afternoon session. The pair's support was likely to be found at 1.6138, while the resistance was prone to be at 1.6310.
The world's biggest economy grew less than predicted during the second quarter of 2012, as consumer spending and business investment declined, the Bureau of Economic Analysis said on Thursday. Nation's gross domestic product increased at a seasonally adjusted annual rate of 1.3%, down from a previous estimate of 1.7%.
The number of Americans who filed jobless benefits claims fell more than expected and reached a two-month low in the week ending September 22, the U.S. Department of Labor reported. Initial jobless claims dropped by 26,000 to a seasonally adjusted 359,000, compared to expectations for a fall of 7,000 to 378,000, while down from 385,000 in the previous week.
The U.S. Census Bureau reported on Thursday that the number of orders for durable goods, which are goods that have a lifespan of more than 3 years, plunged in August. Durable goods orders fell by 13.2% on a seasonally adjusted basis, compared to an increase of 3.3% in the preceding month. Analysts, however, expected that August's reading would be minus 5.0%.