US share markets advanced on Thursday fuelled by investor hopes central banks will provide additional monetary stimulus amid hopes China will face a soft landing. S&P 500 index jumped 1.38% or 18.86 points to 1,387.57 while Dow Jones Industrial Average gained 1.41% or 181.19 points and closed at 12,986.58. Nasdaq Composite index added 1.30% or 39.09 points and finished at
European stock markets traded higher on Thursday as investors turned their focus to higher yielding assets on speculation Fed will keep US benchmark rates low. Stoxx Europe 600 index jumped 1.2%, UK FTSE 100 index gained 1.3% and Italian FTSE MIB index added 1.2%. French CAC 40 and German DAX index climbed 1% while Spanish IBEX 35 declined 0.8%.
British trade deficit broadened in February, Office for National Statistics reported on Thursday. Data suggest the economy was stagnating in the firs quarter. The trade gap widened from GBP 2.5 billion in January to GBP 3.4 billion in February. In contrast economists expected the shortfall to contract by around GBP 2 billion.
China's financial institutions provided more Yuan loans than initially expected in March that experts interpreted as fresh signs of monetary easing. New loans hit 1.01 trillion Yuan while analysts predicted the loans to achieve 800 billion Yuan, according to the PBOC.
China's GDP grew less than initially expected in Q1 of 2012, reported China Statistics Bureau. Country's economy expanded by 8.1% in Q1 on an annual basis while experts predicted the GDP to grow by 8.4%. Many economists even hoped by 9.0% expansion. Meanwhile industrial production rose by 11.9% whereas retrial sales advanced by 14.8% in the period.
Italy's borrowing costs increased during last bond sale, escalating worries about Italy's ability to repay its obligations. Three-year bonds faced a rise in the interest rate from 2.76% to 3.89%. Adding to concerns over the Euro Zone's economic state, Greek unemployment rate surged to 21.8% in January as compared to 14.8% in January 2011.
US wholesale prices excluding fuel and food climbed more than expected in March as prices for soaps and light trucks surged. The core CPI advanced 0.3%, following a 0.2% growth in February. Analysts expected an 0.2% increase. The total CPI indicator remained flat instead of expected advance of 0.4%.
The number of applications for unemployment benefits advanced more than expected last week Labor Department reported on Thursday, renewing worries among Fed officials labour market rebound may be slower. Jobless claims rose by 13 000 during the week that ended April 7 reaching 380 000, a 2-month record high. Economists questioned by Bloomberg predicted a drop to 355 000.
Singapore's economy recovered in Q1 of 2012, forcing the country's central bank to tighten monetary measures to curb inflation. The GDP growth of the country accelerated by 9.9% in Q1 on a yearly basis, reported the Trade Ministry. Experts expected a moderate increase of 6.8% in Q1. After the data release, the Singapore's Dollar appreciated against its US counterpart by
Canadian trade balance advanced less than initial forecast in February, according to Statistics Canada. The country's trade surplus expanded by 0.3 billion Canadian Dollars on a seasonally adjusted basis in February as compared to 2 billion Canadian Dollars in January. Experts predicted Canada's trade balance to soar by 2.0 billion Canadian Dollars. Major contributors to the fall in trade surplus
Gold futures declined during Asian trading hours on Friday amid broadly stronger US Dollar. US Dollar Index that traces the greenback's value against a set of six main currencies increased by 0.17% to 79.60 US Dollars. COMEX gold for delivery in June traded at 1,675.25 US Dollars per ounce on the New York Mercantile Exchange, declining 0.32%.
Rural commodities rallied on Wednesday as effect of the recent USDA report started to fade. Weaker US Dollar also lifted agricultural commodity prices. Grains caught momentum on speculation that colder weather in the main US planting regions may damage crops. Wheat's upswing was capped as weather conditions in Russia improved and winter-grain plantings are expected to provide sufficient crops. Similarly,
Energy commodities excluding natural gas rose after several days of losses on Wednesday, being bolstered by the Fed report that indicated stable growth of the US economy. Moreover, sharp fall of the US fuel inventories offset a buildup of the crude oil stocks thus pushing energy prices up. However, in case negotiations between Iran and Western economies that started on
Industry metals apart from nickel advanced on Wednesday on softer greenback and positive signs from the world's largest economies. Fed assessment of the US economic state indicated that the country's economy grows at the moderate pace. Moreover, positive data from the Pacific region spurred the rally of the base metals pack. Aluminium was the top-performer on the improving demand prospects
Precious metals except for palladium moved down on Wednesday sessions despite stronger equities and softer US Dollar. The commodity group was pressured by lack of fresh easing measures from Fed and overall instability in the Euro Zone. Gold was only marginally lower, consolidating at 1658.98 US Dollars per ounce after fluctuating on speculation about Fed readiness for fresh liquidity measures.
German DAX index traded slightly higher on Thursday supported by car makers and technology shares but retreated as data showed US jobless claims rose more than expected. Volkswagen gained 1.4% and BMW AG surged 1.8% as data showed Euro Zone industrial production advanced by 0.5% in February instead of predicted drop. Infineon Technologies rallied 4.6% after Deutsche Bank upgraded the
FTSE 100 index fluctuated between gains and losses on Thursday as government reported UK's trade deficit widened more than expected in February. Royal Dutch Shell tumbled 5% on news an oil sheen had been detected in the Gulf of Mexico. Aggreko jumped 2.4% after temperature-control supplier reported a strong growth in revenue. GKN climbed 5% after Credit Suisse upgraded the
Asian share markets closed mostly up on Thursday as World Bank lowered China's economic growth forecast from 8.4% to 8.2%, boosting speculations for higher probability of additional monetary stimulus. Shanghai Composite index gained 1.8%, Hong Kong's Hang Seng index added 0.9% and Japanese Nikkei 225 index climbed 0.7%. Australian S&P/ASX 200 index surged 0.8% while South Korean Kospi index breached the overall
Japan's Nikkei Stock Average index beached 7-day downward path and closed 0.70% or 66.05 points higher at 9,524.79. Nikkei 225 index was positively affected by Masaaki Shirakawa's claim Bank of Japan Governor may continue to provide monetary stimulus. Kawasaki Kisen Kaisha lost 2.3% on worries oil shipments from Iran won't be protected by Japanese insurers due to the sanctions on
Dow Jones Industrial Average index climbed higher on Wednesday lifted by Alcoa Inc. Blue chip index added 0.70% or 89.46 points and closed at 12,805.3. Alcoa, the biggest US aluminium manufacturer posted an unpredicted profit for the 1st quarter as aluminium orders surged. Instead of expected loss of USD 0.04 a share, Alcoa posted a gain equal USD 0.09 a
S&P 500 index rebounded from sharp losses on Tuesday and moved higher on Wednesday as Alcoa posted an unexpected profit. American index gained 0.74% or 10.12 points and finished at 1,368.71. Genworth Financial rallied 3.2% after BTIG LLC upgraded its stock to buy. Owens-Illinois jumped 6.9% after the glass- bottle producer predicted 1st-quarter earnings will advance more than annual 35%
Iranian oil output is likely to decline by 500,000 barrels per day by the end of this year and by 200,000 next year, reported the EIA. The lack of proper investment in the sector as well as sanctions imposed by the EU and US both are expected to accelerate the fall in the Iranian oil production. JP Morgan projects the
Germany's bond yield advanced after the country did not manage to meet maximum sales target. The average yield on the new benchmark 10-year bunds rose by six basis points, advancing to 1.71%. At the same time yields on two-year notes added four basis points approaching 0.13%.
The Canadian Dollar hit the lowest figure since January ahead of Bank of Canada monetary policy report. Despite stability in stock and commodity markets the Loonie traded at CAD 1.0038 after strengthening to CAD 1.0009, the lowest since January 31. Currently USD/CAD is trading at CAD 1.0011.