Italian National Institute of Statistics reported on Tuesday that the confidence of Italian consumers increased more than it was expected in August. Italian consumer confidence grew to 86.2 from a preceding month's figure of 86.1, which was revised upwards from 86.0. Economists, however, predicted that the figure would be equal to 86.0.
On Tuesday, prices for gold remained steady, consolidating above one-and-a-half-week low, which was reached during the previous session, as the demand for the metal was supported by central banks' stimulus measures. Spot prices were little changed and were equal to $1,765.10 per once at 06.51 a.m. London time, after hitting a 1-week low of $1,755.30 during the previous session.
British Bankers' Associations reported on Tuesday that the amount of mortgages that were approved by the BBA grew more than expected in August. BBA mortgage approvals advanced to 30.5 thousand on a seasonally adjusted basis, compared to a figure of 28.4 thousand for the previous month. Analysts, however, expected that the BBA mortgage approvals would rise only to 28.6 thousand.
The Euro slid to a more-than-a-week low against the U.S. Dollar on Tuesday as consumer confidence in Europe's biggest economy stayed unchanged and ahead of Italy and Spain bond auctions today. The Euro lost 0.1% to $1.2917, after touching $1.2887, the weakest since Sept. 13. Common currency slipped 0.2% to 100.48 Yen.
The Pound rose to a two-week high versus the Euro on Tuesday as traders sought the Sterling as a haven ahead of the two debt auctions today. The U.K. currency surged 0.4% to 79.43 pence per Euro, the highest since Sept. 7. It gained 0.2% to $1.6257. The 10-year Gilt yield lost one basis point to 1.80%. The 1.75% note
European stocks surged on Tuesday, rebounding from yesterday's losses, as oil and consumer goods firms gained. The Stoxx Europe 600 Index rose 0.1% to 874.96. The FTSE 100 Index advanced 0.1% to 5,842.28, while, the CAC 40 Index lost 0.4% to 3,484.51 and the Dax 30 Index declined 0.2% to 7,396.09.
Oil fluctuated in New York after a fifth drop in last six days ahead of a report expected to show U.S. crude stockpiles surged 2 million barrels last week, posting the longest run of advances since May. November-delivery oil gained 10 cents to $92.03 per barrel in New York. Brent crude for the same month slid 11 cents to $109.70
Asian stocks traded mostly lower on Tuesday as renewed worries over global growth decreased market confidence in Asia, notably influencing commodity, shipping and construction firms. Australia's S&P slid 0.3%, the Shanghai Composite index tumbled 0.4% and the Kospi retreated 0.6%. Meanwhile, the Hang Seng Index lost 0.1%, but the Nikkei advanced 0.3%.
U.S. stock futures fell for a third consecutive day on Monday, as economic data from China and Germany weighed on the market and as traders worried about the global economy. The Dow Jones Industrial Average erased 0.06%, to 13,492.00; the Standard & Poor 500 Index inched lower 0.38%, to 1,446.40, while Nasdaq 100 futures lost 0.58%, to 2,836.00.
European stocks extended losses on Monday, September 24, as European leaders could not agree on how to confront their regional debt crisis. The Stoxx Europe 600 Index erased 0.38 per cent to 274.72, the U.K.'s FTSE 100 Index lost 0.26% to 5,836.78, German DAX 30 Index fell 0.5% to 7,414.02, while French CAC 40 Index inched 0.87% lower to 3,449.88.
German stocks plunged on Monday after disappointing business confidence data. German Ifo Business Climate Index dropped 0.9 point attaining seasonally adjusted 101.4 this month compared to a forecast of 102.5. Moreover, France and Germany did not manage to agree on all terms of banking union over the weekend thus creating additional pressure on German shares. The DAX Index sank 0.63%
UK shares tumbled amid persistent uncertainty over whether Spain will apply for full scale bailout. Adding to the negative mood of the UK stocks, France and Germany failed to agree on timeframe of banking union introduction. The FTSE 100 Index lost 0.57% and is trading at 5,819.23. Only two in ten sectors within the index advanced. The top-gainer was health
Japanese shares started the week on the negative note as solid Yen continued to pressurize exporters. Moreover, slower growth in China coupled with disagreements among the EU leaders regarding the next region's budge created pressure on the index. The Nikkei 225 Index shed 0.45% to close at 9,069.29. Only four in ten sectors within the index gained. The top-performers were
Hong Kong stocks retreated on Monday despite speculation that policymakers will embark on easing measures after China's benchmark index approached three-year low. Persistent tensions with Japan as well as lingering worries over Eurozone's financial instability weighted down on China's blue chips. The Hang Seng Index declined by 0.19% to close at 20,694.70. Only three in nine sectors included in the
The Dow Jones Industrial Average Index lost 0.13% to close at 13,579.47 on Friday. US blue chips rallied in the beginning of the session on hints that the Fed may ease its policy further and hopes that Spain is close to receive the bailout. However, equities faced sharp losses at the end of Friday's session as stock options and futures
US equities inched down on Friday despite hints that the Fed may loosen its monetary policy further. John Williams, San Francisco Federal Reserve Bank president ,said that when the Operation Twist ends in December, the Fed may extend the outright purchases of Treasuries. However, stocks closed lower as index futures and stock options expired. The S&P 500 Index eased down
The Aussie and Kiwi tumbled amid belief discord among European leaders about ways of resolving the recession is restraining growth prospects, cutting demand for higher-yielding assets. The Aussie slipped 0.4% to $1.0415 and fell 0.6% to 81.28 Yen. The Kiwi slid 0.6% to 82.39 U.S. cents and dropped 0.7% to 64.32 Yen.
The 10-year Bunds advanced, with yields falling to a more-than-a-week low, as discord among Eurozone's leaders about the ways to end up the debt recession fueled demand for the area's safest assets. The 10-year yields dropped four basis points to 1.56%, after touching 1.55%, the least since Sept. 13. The 1.5% note maturing in September 2022 added 0.38 to 99.5.
Hong Kong's current account posted a deficit in the second quarter, due to a surge in visible trade shortfall, a rise in the outflow of secondary income and a decline in the primary income inflow, the Census and Statistics Department showed in preliminary data on Monday. The current account represented a deficit of HK$9.346 billion from a surplus of HK$5.653
On Monday, the U.S. Dollar was lower versus the Japanese Yen, being traded close to a 7-day low, amid uncertainty over whether the Spanish government will request a bailout. USD/JPY was traded at 78.03, which was a 0.16% decline for the European morning trading session. Earlier, the pair hit a 78.02, which was a ten-day low.
U.S. stock futures slid on Monday as global growth concerns weighing on confidence, turning commodities down and the greenback up. Dow Jones futures dropped 35 points to 13,465, while those for the S&P 500 slipped 4.1 points to 1,447.80. Nasdaq 100 Index futures fell 5.75 points to 2,846.74. The Dollar Index climbed to 79.715 from 79.323.
On Monday, the British Pound was traded lower versus the U.S. Dollar, amid renewed concerns over Spanish debt crisis. GBP/USD hit a lowest since Thursday, which was 1.6189, and consolidated at 1.6195, which was a decrease of 0.19% for the European morning trading session. The pair's support was likely to be at 1.6142, while the resistance was prone to be at the level of 1.6249.
Austria's industrial output climbed working-day adjusted 1.1% on year in July, Statistics Austria showed on Monday. Meanwhile, construction output posted a 5.4% year-on-year increase. The total production index rose 2% annually, while on monthly basis it slipped 0.1%, with a 0.7% fall in industrial production and 3.8% gain in construction.
On Monday, the U.S. Dollar was traded higher versus the Euro, as traders' sentiment was determined by a disappointing report from Germany, which showed that its business confidence declined to the lowest since 2010. EUR/USD fell by 0.53% in European morning trading hours and reached the level of USD1.2911.