French industrial confidence stayed near its two-year low in August, increasing weight on President Francois Hollande's government to rebound economic growth. Business sentiment index increased to 90, compared to downwardly revised reading of 89 in July, Insee reported on Wednesday. The reading matched economists' forecast.
The euro cut earlier gains versus the U.S. Dollar as German Chancellor Angela Merkel and Italian Prime Minister Mario Monti meet in Berlin on Wednesday to discuss ways to curb the debt crisis. The Euro depreciated 0.2% to $1.2542, after touching $1.2574. It slid 0.2% to 79.23 U.K. pence and was stable at 98.57 Yen.
German stocks declined further on Wednesday ahead of the US GDP data due later in the day. Investors also are cautious as Angela Merkel is meeting Mario Monti on Wednesday, before holding an official press conference in Berlin. The German DAX retreated 0.43% to trade at 6,969.67. Only one industry included in the index rose. Health care companies posted mild
UK shares prolonged slump on Wednesday amid lack of actions from the ECB regarding anti-crisis measures. On Tuesday, Mario Draghi canceled the trip to Jackson Hole, weighting down of speculation that the ECB plans will be announced at the symposium. The FTSE 100 Index sank 0.45% to trade at 5,748.72. Only two sectors within the index climbed. The top-performers were
Hong Kong shares edged down on Wednesday amid increased cautiousness in the markets ahead of the Jackson Hole Symposium due on Friday. Market participants continued to await Ben Bernanke's speech at the symposium as his comments may indicate further actions of the Fed. At the same time, positive data from the US property market supported Hong Kong shares. The Hang
Japanese stocks halted their decline on Wednesday on positive data from the US house market. US home prices rose more than forecast in June. However, recent Japan's growth outlook downgrade continued to cap the upward movement of the equities. The Nikkei 225 Index added 0.40% to close at 9,069.81. Seven out of ten sectors within the index surged. Technology and
The Dow Jones Industrial Average Index slid 0.17% to close at 13,102.99 on Tuesday. Mounting uncertainty over further Fed actions in view of positive US data releases created pressure on the US blue chips. Moreover, lack of progress in the ECB bond-purchasing program also weighted down on the Dow Jones Index. Only one in nine economic sectors included in the
US equities inched down on Tuesday amid mixed signals from the US economy. US CB consumer confidence fell more than expected while US home prices beat forecasts in June. Meanwhile, traders are cautious ahead of the Jackson Hole Symposium due on Friday. The S&P 500 Index eased down 0.08% to end the session at 1,409.30. Only three in ten sectors
Rural commodities were mixed on Tuesday, with grains extending previous losses and coffee and wheat posting mild gains. Weakening demand for US exports coupled with uncertainty over Fed actions created heavy selling pressure on grains. At the same time, supply threats caused by storm in the Gulf of Mexico supported coffee and sugar futures. Wheat faced the longest decline in 11
Energy commodities were mixed on Tuesday amid fading hopes for QE3 in the US and increasing tropical storm activity in the Gulf of Mexico. Mixed US data also impacted the commodity group. Meanwhile, continuous tensions in the Middle East lent support for energy prices. Crude oil edged higher as Hurricane Isaac is approaching the Gulf of Mexico. Currently, about 78% of
Industrial metals sank on Tuesday after Italy's and Spain's borrowing costs dropped at short-term debt sale, weighting down on hopes that the ECB will soon take a decisive action to ease debt pressure in the region. Aluminum inched down amid persistent supply glut and mounting uncertainty over stimulus measures from the Fed. However, lower inventories at LME warehouses as well
Precious metals except for silver prolonged their slump on Tuesday as US home prices beat expectations in June thus fuelling hopes for upward revisions of the Q2 GDP. Recent positive data releases from the US weighted down on the commodity group as speculation over QE3 started to fade. Gold slid despite slightly weaker US Dollar after US CB consumer confidence missed
Most Asian stocks rose before the Fed Chairman Ben Bernanke's speech at Jackson Hole on monetary policy and data on U.S. economic growth. The MSCI Asia Pacific Index gained 0.2% to 119.42, following a 0.1 decline earlier. Japan's Nikkei 225 Stock Average climbed 0.2% and Australia's S&P/ASX 200 Index declined 0.2%.
The Canadian Dollar appreciated for the third consecutive day against the U.S. Dollar as crude oil, the country's largest export, gains. The Loonie rose 0.3% to 98.82 cents per U.S counterpart. It reached 98.43 cents, the highest since May 3. Canada's Dollar buys $ 1.0119. Government bonds increased for a second day, with the nation's benchmark 10-year security yield falling
Before Italy sells debt, the Euro trades at the highest level in 8 weeks on speculation the ECB is discussing a bond-purchase programme, which may cap European countries' borrowing costs. The common currency appreciated versus most of its major peers after yields of Spanish bills declined yesterday. The Euro traded at $1.2556 from $1.2565.
Retail sales in China are declining, weighing on Premier Wen Jiabao's intention to rely on consumer spending for recovery as the economy is experiencing a slowdown. Fiscal spending is growing at a faster pace than the retail sales, rising 37% in July from the previous year, the Ministry of Finance reported. Retail sales increased 12.1% in June and 12.2% in
South African economy picked up in the second quarter, with quarterly GDP growth at 3.2 per cent from 2.7 per cent in the first quarter of this year. The growth of continent's largest economy picked up the pace, as nation's mining sector soared in the second quarter. Mining grew an annualized 31.2 per cent between April and June, after erasing 16.8 per cent in
Oil futures went up in New York on reduction in output in the Gulf of Mexico as the result of Tropical Storm Isaac and due to speculations about decrease in U.S. supplies. Petroleum prices for October delivery gained 72 cents, a 0.8 per cent increase, to $96.19 a barrel on the New York Mercantile Exchange's Comex division.
The single european currency ticked higher versus the greenback on Tuesday on expectations of Eurozone's recovery led by the European Central Bank and Federal Reserve easing policy. The Euro went up to $1.2567, a 0.5 per cent increase.
European stocks decreased on Tuesday on investors fears about the upcoming slowdown in global economy due to lower than expected economic growth of Japan.The Stoxx Europe 600 index gave up 0.60 per cent to 267.56, after a 0.5 per cent increase this Monday.
Natural gas futures pushed higher on Tuesday, August 28, bouncing from an eight-week low, as the U.S. National Hurricane Center said that Isaac could become a hurricane. Soon after the news, natural gas futures with October contract inched 0.3 per cent higher to $2.682 a million British thermal units. Still gains were limited by growing concerns over the U.S. possible expansion of inventory levels.
On Tuesday, August 28, Catalonia has asked for a bailout of 5bn euros from the Spanish government. Catalonia represents one-fifth of the nation's economy. In the meanwhile, Spanish economy contracted by 0.4% between April and June after a 0.3% drop in the first quarter. On the top of that, in June, Spain requested 100bn euros of loans from the Eurozone's bailout fund for its troubled
Wall Street was little changed on Tuesday, as investors awaited the release of U.S. economic reports later this day. The Dow Jones Industrial Average added 0.12%, to 13,139.81; the Standard & Poor 500 Index edged 0.14% higher, to 1,412.33, while Nasdaq 100 futures rose by 0.18%, to 3,078.79.
German Gfk consumer sentiment indicator remained unchanged for September at 5.9, from 5.9 in the previous month. In the meanwhile, analysts predicted German leading indicator of consumer spending, which represents overall economic activity, to fall by 0.1 to 5.8.