Hong Kong's Hang Seng index kept declining after recent rally in previous week. The index fell 0.95% or 202.56 points and closed at 21,115.29 on Monday as investors locked in profits. Aluminum Corp. of China fell 4.2% after company reported a substantial drop in 2011 profits. The main loosing stock was Esprit Holdings which tumbled 4.8%. Property shares supported the
Asian shares traded mostly in the positive territory on Monday as investors anticipated economic news from US. Nikkei 225 index gained 0.2%, South Korea's Kospi added 0.6% and Australian S&P/ASX 200 index soared 0.3%. Shanghai Composite index climbed 0.2% while Hong Kong's Hang Seng index bucked the upward trend and finished 1% down.
United Parcel Service expanded its bid for TNT Express by 5.6% to EUR 5.16 billion to shelter the largest deal in UPS history and beat the offer from Deutsche Post AG. Atlanta-based UPS raised its offer price from EUR 9.0 a share to EUR 9.5 a share. TNT shares added 1.8% on the announcement in Amsterdam trading session.
Japan's Nikkei Stock Average modestly advanced on Monday, reaching a record high since earthquake in March 2011. Nikkei 225 index soared 0.19% or 18.69 points and closed at 10,148.52. The gains were limited as several electricity providers declined on news Citigroup Inc. lowered its recommendation on the utility companies. Kansai Electric slipped 4.2% and Tokyo Electric fell 3.6%. Strengthening Yen
Dow Jones Industrial Average index slightly declined on Friday as unpredicted fall in US consumer sentiment weighed down on shares. Blue chip index slipped 0.15% or 20.14 points and settled at 13,232.62 with industrial and consumer service sectors creating the biggest losses. On the upside the main gainer was Bank of America which rallied 6% on news its proportion of
S&P 500 index modestly climbed on Friday as gains were limited by an unexpected drop in consumer confidence in March. US index added 0.11% or 1.57 points and closed at 1,404.17 with energy shares posting the biggest gains. Consol Energy jumped 5.2% and Peabody Energy advanced 4.9%. On the downside Pultegroup fell 3.3% and Ford Motor lost 3%. On weekly
US consumer confidence unexpectedly fell in March as surging crude prices boosted inflation expectations among customers. The preliminary reading estimated by Thomson Reuters/University of Michigan's fell from 75.3 in February to 74.3 in March. Economists earlier predicted an increase to 76.0. US shares declined on the data.
The real estate prices in the major China's cities have declined for the fifth month in line, signaling on the success of the policies aimed at tightening property market. The new house prices in 45 out of 70 main cities have decreased last month, reported the NBS. However, the government claims the real estate market is still overpriced and the
US shares posted modest losses on Friday as consumer confidence fell in February. However, stocks ended whole week into positive territory. S&P 500 index gained 0.11% or 1.57 points and closed at 1,404.17, Dow Jones Industrial Average index slipped 0.15% or 20.14 points and Nasdaq Composite index dropped 0.04% or 1.11 points and settled at 3,055.26.
European stocks edged slightly higher on Friday supported by financials and resource sectors while weighed down by auto makers. FTSE 100 added 0.4%, German DAX climbed 0.2% and French CAC 40 index gained 0.4%. Last week marked the biggest rally since the beginning of February with Stoxx 600 Europe adding 2.6% on weekly basis.
Christine Lagarde announced that China has to reform its economy to make it less vulnerable from fluctuations in exports and investments. She also stressed that the Yuan may become the world's reserve currency in case the country restructures its markets. There are signs of stabilization in the global economy, she said speaking to politicians in Beijing.
17-nation currency climbed against Japanese Yen after German Chancellor Merkel said European leaders have considered combining Euro Zone rescue funds in order to back common financial firewall. Euro appreciated versus Japanese currency to JPY 110.15 in Asian trading hours. Currently EUR/JPY is trading at JPY 109.82.
Canadian Dollar prolonged its advance against Japanese Yen for a tenth straight week, creating the longest weekly improvement period in seven years as US stock rally boosted demand for riskier assets. Canada's Dollar appreciated 1.1% versus Yen to JPY 84.13. Loonie slipped 0.1% versus greenback to CAD 0.9917. Currently CAD/JPY is trading at JPY 84.14 and USD/CAD is trading at
New Zealand's consumer confidence index increased to 102.4 in quarter ended in March, indicating a marginal increase of 1.1 point on a monthly basis. The consumer sentiment raised only slightly after sharp fall in December, according to Dominick Stephens, Westpac Chief Economist. The major contributors to the increase were recovering property market and more optimistic global news while weak job
US consumer prices surged in February to 10-month record high, mirroring the increase in fuel value. The CPI soared 0.4% in line with expectations, following a 0.2% increase in January, said Labor Department on Friday. The core CPI measure which eliminates volatile energy and food costs added 0.1% or slightly less than predicted 0.2%.
The industrial production in the US stayed unchanged in February, reported the Federal Reserve. The industrial production was at the same level as last month compared to a 0.4% expansion in January. Experts predicted the industrial output to advance by 0.4% in February.
Rural commodities apart from corn advanced on Thursday on the stronger US Dollar and firmer equities. Grains were mixed with falling corn and jumping wheat prices. Wheat futures were supported by rally of the soybean prices. Moreover, adverse weather conditions in Europe may impact wheat crops thus provoking undersupply in the market. Corn is expected to rebound in the nearest
Energy commodities tumbled on Thursday after speculation that US will cooperate with the UK in releasing oil reserves to curb inflation. Brent and crude oils were the top-losers after the announcement. However, they managed to erase some losses on Friday trades amid lingering supply concerns and expected stronger demand from healthier US economy. US manufacturing and labour data continued to
Industry metals moved higher on Thursday amid weaker US Dollar and inspiring manufacturing and labour data from the US. However, soft China's demand coupled with escalated concerns over probable country's "hard landing" both created a downward pressure on the base metals pack. Copper was the top-gainer over the day as the red metals caught momentum on the expected fall in
Precious metals rallied on Thursday amid broadly lower US Dollar. More optimistic situation in the Euro zone after the IMF agreed to back up the second Greek bailout package also created a fresh stimulus for precious metals. However, recent Fed decision to maintain current monetary policies continued to weight down on the commodity group. Gold was the main driver for
German DAX index prolonged gains on Friday lifted by financial sectors. Nevertheless gains were limited by auto sector and news US consumer confidence unexpectedly dropped in March. Munich Re advanced 1.2% after Exane BNP Paribas confirmed buy rating on share and increased its price target by 3%. Siemens surged 1% on news its Osram unit's Chief Operating Offier Martin Goetzeler
British FTSE 100 index climbed on Friday supported by bank stocks. Royal Bank of Scotland Group rallied 6.3% after UBS raised RBS rating from neutral to buy citing bank's proposed strategy is likely to provide capital and sustainable funding. Lloyds Banking advanced 2.3% and Standard Chartered gained 0.8%. Tullow Oil jumped 4.9% after company said it found a very good
Asian equity markets mostly edged in negative territory on Friday as crude prices declined. Australia's S&P/ASX 200 index slipped 0.04%, South Koreas Kospi faded 0.5% and Hong Kong's Hang Seng index tumbled 0.2%. Japanese Nikkei Stock Average gave up 0.05%. In contrast Shanghai Composite index (SHCOMP) jumped 1.3%.
Hong Kong's Hang Seng index slightly faded on Friday but posted gains for week. The index slipped 0.17% or 35.68 points and finished at 21,317.85 pressed down by oil shares as crude price declined on Thursday New York session. China Mobile fell 1.1% after Macquarie cut stock's rating to neutral. China Overseas Land & Investment lost 4.7% after firm's chairman