Swiss stocks tumbled, after SMI's two-day rally, after Japan reduced its economic assessment for the first time in 10 months. On Tuesday, the Swiss Market Index declined 0.7% to 6,443.70. The measure has still surged from the year's weakest level on June 4. The Swiss Performance Index slipped 0.7%.
Canada's currency rose for the third day against the U.S. Dollar after crude oil, the nation's major export, rallied. On Tuesday, the Loonie advanced 0.3% to 98.76 cents per U.S. Dollar, after reaching 98.43, the highest since May 3. One Loonie buys $1.0126. Economists forecast a report this week to show Canada's GDP rising for a fourth consecutive quarter.
Spain's recession deepend in the second quarter with the nation's GDP falling by 0.4% from the previous three-month period, when it declined 0.3%, the Madrid-based National Statistics Institute reported today. Meanwhile, Spain's borrowing costs slid to a three-month low at an auction on Tuesday.
German equities tumbled on Tuesday on lack of action from the ECB and fading hopes for QE3 in the US. Dismal headlines from Japan also weighted down on the German shares. However, successful short-debt auctions in Italy and Spain restricted losses of the German blue chips index. The DAX Index dropped by 0.64% to trade at 6,977.85. All industries within
UK stocks slid on Tuesday as hopes for easing in the US started to fade due to upbeat US data releases over the last weeks. Adding to the negative mood of the UK equities, Japan downgraded its economic outlook on Tuesday. The FTSE 100 Index lost 0.25% to trade at 5,758.42. Only three in ten sectors included in the index
Hong Kong stocks inched up on Tuesday amid speculation that more public companies will buy back their shares. Recently, the China Securities Journal cited an unknown official from the China Securities Regulatory Commission who said that publically traded companies are obliged to buy back their own equities. The Hang Seng Index gained 0.07% to close at 19,811.80. Five out of
Japanese equities tumbled on Tuesday after the government downgraded its economic outlook, citing slowing growth in China. Speculation that the Fed will refrain from easing measures also fuelled global growth concerns, sending risky assets lower. The Nikkei 225 Index shed 0.57% to close at 9,033.29. Only two in ten sectors included in the index posted mild gains. The top-performer was
US blue chips moved lower on Monday as speculation that the Fed and ECB will soon loosen their monetary policies started to vanish. Meanwhile, investors awaited Jackson Hole symposium due to start on Friday. The Dow Jones Industrial Average Index retreated by 0.25% to close at 13,124.67. Only consumer services sector managed to rise by 0.30%. Financials were mixed, with
US equities declined during Monday's session as market participants were cautious ahead of Jackson Hole symposium that opens on Friday by Ben Bernanke's speech. Positive economic data flow from the US over last week weighted down on hopes for QE3, pushing the US stock index lower. The S&P 500 Index lost 0.05% to close at 1,410.44. Only two industries included
Gold rose after a two-day fall in London amid belief the Euro-debt crisis and additional BoE stimulus will fuel demand for wealth-protection. On Tuesday, bullion for immediate delivery gained 0.1% to $1,664.95 per ounce in London. Futures for December delivery traded 0.5% down at $1.667.20 in New York. Silver added 0.4%, while platinum lost 1.2% and palladium slid 1.1%.
The Aussie continued a four-day decline versus the Yen as private data posted the South Pacific nation's new house sales tumbled for the first time in four months. On Tuesday, the Aussie was at $1.0365, after touching $1.0345, the least since July 26. It dropped 0.3% to 81.29 Yen. The Kiwi slid 0.1% to 80.76 U.S. cents and 0.4% to
The Pound depreciated versus the Euro for the first time in three days on belief declining real estate prices will drive the U.K. economy deeper into the crisis, adding signs the BoE will purchase more assets to boost growth. The Pound fell 0.4% to 74.96 pence per Euro, after reaching 79.55 pence, the least since Aug. 7. The Sterling dropped
Farm commodities apart from coffee edged down on Monday on signs that US export demand is slowing. Better crop conditions in Brazil and India also weighted down on the agricultural commodities. Wheat was lower as US export growth is slowing as Russia sells wheat below the US prices inflated by recent drought. Corn was the worst-performer as US harvesting started to accelerate
Energy commodities except for heating oil dropped on Monday amid concerns that global banks may refrain from easing measures. Adding to the negative mood of the commodity group, concerns that tropical storm Isaac will damage oil production started to ease. Crude oil sank on speculation that storm Isaac will damage oil production in the Gulf of Mexico less than initially expected. Brent
Industrial metals were higher over the last week on upbeat US data releases and persistent speculation that global central banks will loosen their monetary policies. However, solid greenback restricted the gains of the base metals. Aluminum rose on positive headlines from the US. Successful debt auctions in Spain and Italy also spurred the light metal's price. Copper balanced between an increase in
Precious metals moved lower on Monday amid broadly stronger US Dollar and mixed global equities. Moreover, speculation that US consumer confidence data due on Tuesday will beat expectations weighted down on the commodity group. Gold dropped as hopes for QE3 in the US started to fade amid strong US data releases. Weak physical demand from India in view of poor crops
Asian stocks declined, as Japan cut its economic assessment and as investors expect signs of monetary policy direction from the Fed. The MSCI Asia Pacific Index fell 0.6% to 119.14, approaching the lowest close since August 6. Japan's Nikkei 225 Stock Average dropped 0.6% and South Korea's Kospi lost 0.3%. Hong Kong's Hang Seng Index slid 0.2%, while both China's
The U.S. Dollar and Japanese Yen advanced versus most of counterparts as Japan downgraded its economic outlook and German data is expected to indicate consumer sentiment deterioration, adding to concern growth of global output is weakening. The Yen rose 0.4% to 98.03 per common currency and gained 0.3% to 78.52 per greenback. The U.S. Dollar climbed 0.1% to $1.2485 per
Thomas Jordan, President of the Swiss National Bank, said that countercyclical capital buffer might be activated to stem development in real-estate and mortgage markets in 2013. According to the June Financial Stability Report, the mortgage market poses a risk to creditors. Home loans have risen by as much as 300 billion Francs ($313 billion) in 10 years and increased 5.2%
The Japanese government cut its outlook for the world's third-biggest economy, as some economists expect that GDP will fall this quarter. The government downgraded the economic assessment on home-building, personal consumption, imports, exports and industrial production. During the next meeting of the Bank of Japan, which is scheduled on September 18 and 19, monetary policy will be reviewed.
According to the Housing Industry Association, Australian new-home sales declined 5.6% to 5,682 in July, adding to signs the central bank's interest rate cuts did not stabilize the housing market as expected. Sales of detached houses fell 5.5% to the lowest since 2000 and sales of apartments fell 6.4%.
Oil declines on belief Tropical Storm Isaac will cause less damage to oil production than first forecast. October-delivery oil dropped 1% to $35.19 per barrel after Isaac was downgraded to a Category 1 hurricane, the weakest on scale. October-settlement Brent oil fell 0.8% to $112.71 per barrel.
U.K. house price index tumbled 0.1% on monthly basis in August, according to a real estate tracking website Hometrack. Th reading matched both economists' forecast and the rate of decrease from the preceding month. Prices in London posted no change. On year-on-year basis, Britain's property prices declined 0.5%.
U.S. stock futures increased, following the first weekly fall of benchmark indexes in almost two months, after Apple Inc. surged amid a $1 billion jury's decision and investors awaited signs on further Fed stimulus. Apple climbed 2.3% to $681.94. S&P 500 Index futures due in September gained 0.3% to 1,414. Dow Jones Industrial Average futures rose 0.1% to 13,167. Nasdaq-100