Japan's Nikkei Stock Average fell on Tuesday pushed by appreciating Yen which strengthened on Spain's recession amid several disappointing earnings reports. Nikkei 225 index fell 1.78% or 169.94 points and settled at 9,350.95. Crystal display manufacturer Sharp tumbled 9.3% after predicting a bigger than expected loss. Tokyo Electron fell 8.3% after the chip-equipment producer announced its net income dropped more
Dow Jones Industrial Average index slipped on Monday as the drop in Chicago PMI boosted worries the overall manufacturing gauge on Tuesday also may show slow down. Blue chip index gave up 0.11% or 14.68 points and closed at 13,213.63. Merck & Co posted the biggest gains for the Dow as court ruled company's patent cholesterol drugs Zetia and Vytorin
S&P 500 index closed slightly lower on Monday as data showed Chicago PMI dropped more than expected in April. US index lost 0.39% or 5.45 points and finished at 1,397.91. Humana tumbled 8.1% on news its profit fell 21%. The owner of the New York Stock Exchange NYSE Euronext, faded 5% after reporting that its revenue sharply declined in the
Indonesia's inflation reached 7-month high in April, adding pressure on the Indonesia's central bank to refuse from further interest rate cuts. Country's CPI surged in 4.5% previous month compared to last year, Statistic's Central Bureau reported on Tuesday. In March CPI accelerated by 3.97%. Nation's exports gained 5.5% in March compared to similar period a year before.
Canadian economy unexpectedly contracted in February, driven by several temporary closures in industry sector. Real GDP dropped 0.2% in February, Statistics Canada said on Monday. The main contributor to decline were weaker extraction of oil, gas and other raw materials. Analysts predicted a growth of 0.2%.
Canadian currency depreciated to one-month record low against its US peer on Monday as data showed nation's GDP unexpectedly contracted in February, reducing room for the central bank to raise key rate. Loonie weakened 0.7% to CAD 0.9872 in Toronto session. Currently USD/CAD is trading at CAD 0.9884.
South Korean inflation slowed and exports dropped in April adding pressure on the Bank of Korea to keep benchmark interest rate unchanged. Country's exports tumbled 4.7% on annual basis following a 1.4% drop in March while inflation slowed to annual 2.5%. Analysts predicted the CPI to climb to 2.8% after a 2.6% gain in March.
US stock markets finished Monday modestly down as Chicago PMI dropped slowed more than expected in April, boosting fears the overall manufacturing gauge on Tuesday also may show worsening. S&P 500 index lost 0.39% or 5.45 points and closed at 1,397.91, Dow Jones Industrial Average shed 0.11% or 14.68 points to 13,213.63 and Nasdaq Composite fell 0.74% or 22.84 points
The indicator measuring Chicago area manufacturing activity slowed last month, reaching the 29-record low growth. Chicago PMI declined from 62.2 in March to 56.2 in April, ISM- Chicago reported on Monday. Economists expected a drop only to 60.8. Lower Chicago PMI may signal weakness in ISM manufacturing index which will be released on Tuesday.
European shares finished Monday in red area as Spanish banks faced additional pressure amid weak macroeconomic data and Chicago PMI slowed in April. Stoxx Europe 600 index dropped 0.7%, IBEX 35 tumbled 1.9% and FTSE 100 slipped 0.7%. French CAC 40 index fell 1.6% and German DAX gave up 0.6%.
Chinese manufacturing activity expanded in April for the fifth consecutive month, reducing pressure on officials to boost monetary accommodation. China's PMI climbed from 53.1 in March to 53.3 in April, official data showed on Tuesday. Economists questioned by Bloomberg predicted the index to reach 53.6. HSCB Holdings preliminary index, released last week, showed production activity may have declined for a sixth straight month.
The 17-nation currency traded close to two-week record low versus Japanese Yen ahead of Spanish debt auction due this week as investors remain worried about uncertainty in Europe. Shared currency traded at JPY 105.78 in Asian trade. Currently EUR/JPY is trading at 105.63
Reserve Bank of Australia (RBA) unexpectedly decreased its key interest rate by 0.5 percentage points, citing slower inflation in 13 years as a main driver of the decision. Australian benchmark rate was cut from 4.25% to 3.75%. The domestic currency weakened and 10-year borrowing costs dropped on the announcement.
US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months.
Canada's economy posted unexpected contraction in February, following marginal expansion of 0.1% in the preceding month, according to Statistics Canada. The country's GDP slumped by 0.2% in February on a seasonally adjusted basis, confronting expectations of a 0.2% growth. After the release of data, Canadian currency extended previous losses against its US rival and USD/CAD traded at 0.9859, soaring by
German DAX index experienced a choppy session on Monday as data from Spain showed its unemployment climbed in March while 1st quarter GDP contracted for a second time indicating recession. On the positive side Adidas rallied 5.2% after sportswear producer posted a 38% gain in first-quarter profit. Volkswagen AG added 1% after J.P. Morgan Cazenove kept unchanged its stock rating
FTSE 100 index traded lower on Monday weighed down by mining stocks amid falling oil and metal prices. Randgold Resources dropped 1.7% after Nomura downgraded the company from neutral to reduce citing political turmoil in Mali. Man Group provided negative impact on the British index and slipped 4.8% a day before company's first-quarter earnings. On the upside British Sky Broadcasting
Australian S&P ASX 200 index followed its US peers on Monday and appreciated, supported mainly by mining shares. Australia's benchmark index advanced 0.79% or 34.50 points and closed at 4,396.60 with basic materials and technology sectors posting the biggest gains. Integra Ming rallied 8.3% while Saracen Mineral surged 6.4%. On the downside Imdex Ltd slumped 5.3% and Dart Energy gave
Hong Kong's Hang Seng index rallied on Monday lifted by coal miners and Chinese banks that posted strong corporate earnings. Hang Seng index jumped 1.7% or 352.76 points and finished at 21,094.21. Bank of Communications surged 3.6% and Agricultural Bank of China jumped 1.9%. China Merchants Bank advanced 2.6% and China Citic Bank Corp gained 3.1%. Energy shares also climbed
Dow Jones Industrial Average index traded higher on Friday as strong earnings reports offset the downside effects from Spain's downgrade and lower GDP data. Blue chip index added 0.18% or 23.69 points and closed at 13,228.31. On the upside McDonald's soared 1.6% and Cisco system climbed 1.9%. Procter & Gamble lost 4% after consumer products manufacturer said its profit dropped
S&P 500 index managed to gain on Friday despite disappointing US quarterly GDP figure. US benchmark climbed 0.24% or 3.38 points to 1,403.36 with consumer service sector contributing most. Expedia rocketed 24% on better than expected net income from its hotel-booking unit. Amazon rallied 16%, after the internet retailer posted a big jump in shipments. Starbucks fell 5% after the
Inflation rate in Italy hit six-month high this month, being elevated by growing energy costs and austerity measures such as tax increases. Italy's inflation rate remained unchanged at 3.8%, reported Istat. The figure is higher than Bloomberg's forecast of 3.6%. Meanwhile, consumer confidence dropped to the lowest level since 1996, indicating that the country's economic state has been deteriorating.
Japan's oil imports increased by 11.3% in March on a yearly basis, reported METI. Total crude oil imports attained 130.52 million barrels, with Saudi Arabia remaining the largest supplier. Meanwhile, oil purchases from Iran tumbled by 36.4% year-to-year, signaling that Japan attempts to align its crude oil buying with the US sanctions.
Euro Zone's CPI was flat in April, approaching 2.6% on a seasonally adjusted basis. Experts predicted the prices to increase to 2.5% while the ECB target for the CPI is below 2%. After the release of data, the Euro stayed lower against its US counterpart and EUR/USD traded at 1.3239, retreating by 0.11%.