European stock futures dropped on concerns about the upcoming U.S. report, as it might show a slowdown in manufacturing growth. Futures on the Euro Stoxx 50 maturing in December fell 0.5 % to 2,942, as data on China's manufacturing improved. The futures of the U.K.'s FTSE Index slid about 0.1%. S&P's 500 Index Futures erased 0.4 %. The Stoxx 600 has been rising for five
Asian stocks tumbled after Panasonic Corp. plunged 19%, reaching its biggest drop since 1974. The MSCI Asia Pacific Index declined 0.3% to 121.67. The index showed a 0.4% drop in September after the majority of companies posted lower than expected corporate earnings. South Korea's Kospi index fell 0.7%, and Taiwan's Taiex index plunged 0.3%.
Asian currencies traded near the highest level in 8 months as data showed China's manufacturing improved and South Korea's exports increased fro the first time in 4 months. Taiwan's Dollar gained 0.1% to NT$29.227 versus the U.S. Dollar. India's Rupee advanced 0.1% to 53.765 and South Korea's Won was at 1090.43 compared to 1090.70 yesterday. Indonesia's rupiah declined the most in 3 weeks, falling
Japan equities inched up after the weakening of national currency and positive data on China's manufacturing expansion. The Nikkei 225 surged 0.2 percent to 8,946.87 by 3 p.m. in Tokyo, rebounding from a 0.6 percent fall. The Topix index advanced 0.1 per cent to 743.32. Construction machinery producer Komatsu Ltd. increased 3.1 per cent, while Nippon Meat Packers Inc. jumped 13 percent.
The Pound headed for a second-day advance versus the U.S. Dollar on speculation the BOE will refrain from adding stimulus at the meeting of policy makers next week. Sterling rose against almost all of its major peers as the SNB said it increased amount of pounds in the foreign-exchange reserves. The pound gained 0.3% to $1.6113 after rising 0.3% yesterday.
The Canadian Dollar approached a 12-week low versus the greenback as Canada's GDP shrank for the first time in 6 months. The loonie traded below the parity level with its U.S. peer for a third day as Statistics Canada reported that output unexpectedly decline 0.1% to C$1.29 trillion in August from July year-on-year. Canada's currency was little changed at 99.64
The Norwegian Krone rose the most in 7 weeks versus the Euro following the country's central bank's statement saying that it would halt purchases of foreign currency for the $650 billion sovereign wealth fund.The Krone gaines as much as 0.2% versus its major counterparts. Norway's currency gained 0.5% to 7.3945 per Euro following a 0.7% advance, the most since September
The Japanese Yen fell versus the major peers before the BOJ releases minutes of its October 4-5 meeting tomorrow on speculation the bank will ease its monetary policy further. The Yen set for a three-day decline against the Euro as Panasonic Corp. projected the second-biggest loss in its history. Japan's currency fell 0.4% to 103.75 per euro following a 0.4%
After falling on Wednesday due to disappointing reports of BG Group, ArcelorMittal and Barclays, today European shares opened higher as data indicated signs of growth in China's manufacturing sector. The purchasing managers' index advanced to 50.2 this month from 49.8 the prior month. Experts said Chinese economy is recovering after suffering from decreased exports.
Chicago-area's business activity was little changed in October, the Institute for Supply Management – Chicago showed on Wednesday. The business barometer rose to 49.9, down from 49.7 in the previous month, indicating a contraction. New orders index jumped to 50.6 from 47.4, while production index slid to 51.8 from 55.4, and employment index dropped to 50.3 from 52.0.
Canada's Dollar dropped to near a three-month low versus the greenback on Wednesday after a report posted an unexpected fall in the nation's GDP, the first in six months. The Loonie retreated 0.2% to C$1.0009 per U.S. Dollar and traded at C$1.0013. Government notes advanced, with the 2-year yields losing four basis points to 1.06%, the lowest since Oct. 4.
The euro advanced against the dollar and yen as the parliament of Portugal is approaching to a consensus on its budget and a discussion over giving more time to Greece to meet the austerity measures has started. The single currency inched up 0.2 per cent to $1.2989, after having a 0.4 per cent gain the prior day. The currency also rallied 0.6 per cent
French shares eased up on Wednesday as unexpected rise in the eurozone's jobless rate was partly offset by upbeat retail sales numbers from Germany. Limiting an upward trend, France's consumer spending increased less than expected last month. The CAC Index inched up 0.08% to trade at 3,462.30. Nine out of ten sectors included in the index advanced. Oil and gas
German stocks moved higher on Wednesday on positive data from the national economy. German retail sales soared 1.5% versus forecast of a 0.4% increase in September. However, an unexpected rise in the eurozone's jobless rate capped the upswing of the German blue chips. The DAX Index jumped 0.54% and is currently trading at 7,323.99. Seven out of nine sectors included
The FTSE 100 Index slumped 0.11% to trade at 5,843.55. An unexpected increase in the eurozone unemployment rate to 11.6% created heavy pressure on the UK blue chips. At the same time, a rebound in Asian stocks and upbeat quarterly results of the largest European airlines limited the downswing. All but one sectors within the index eased up. The top-gainers
Hong Kong equities advanced on Wednesday amid mixed profits of Hang Seng majors. Meanwhile, investors were cautious ahead of the final reading of China's PMI due on Thursday. The Hang Seng Index surged 1% to end the month at 21,641.82. Seven sectors included in the index climbed. The top-performers were basic materials and financials. Aluminum Corp of China (CHALCO) gained
Japanese shares rallied after previous slump. On Tuesday, stocks plunged as the BoJ did not launch more aggressive easing measures. Boosting the market sentiment, corporate results for Q3 were not as dismal as expected. The Nikkei 225 Index gained 0.98% to end the session at 8,928.29. All sectors within the index moved higher. The biggest gains posted oil and gas
Australian stocks moved higher at low-volume trading on Wednesday. The market sentiment was boosted by mounting hopes that the RBA will cut its benchmark interest rate again at its policy meeting due on Thursday. Positive economic data also lifted Australian equities. Australian building approvals rose by 7.8% while public sector net borrowings continued to advance in September. The S&P/ASX 200
In September, the eurozone unemployment rate reached a new peak as the debt crisis sharpened, thus creating concerns about recession. The jobless rate surged to 11.6 per cent the former month from 11.5 per cent in August. Throughout the last twelve months, the number of unemployed increased by 2.174 million to 18.49 million people. Austria and Luxembourg had the lowest rates, while Spain and Greece
Japan's housing starts rebound strongly in September, after three consecutive months of contraction, the Ministry of Land, Infrastructure, Transport and Tourism said on Wednesday. Housing starts rose 15.5% year-on-year, compared to a 5.5% contraction in August. However, economists expected a faster increase of 17%. Total housing starts were at annualized 866,000 in September from 888,000 in the previous month. Meanwhile, analysts
Canada's economic activity advanced at a weaker-than-expected pace in August, Statistics Canada showed on Wednesday. Canada's GDP posted a 1.2% growth, compared to a 1.9% increase in July. Economists had forecast a 1.7% rise. On monthly basis, GDP declined 0.1%, quite below expectations of a 0.2% expansion.
Italy's Producer Price Inflation was slightly above analysts' estimates in September, Istat reported on Wednesday. The PPI for domestic market advanced 2.8% on yearly basis, while economists predicted a 2.7% rise. Total market prices increased 2.6%, with a 1% growth in non-domestic market prices. On monthly basis, the index fell 0.1% in contrast to expected 0.1% rise.
Copper jumped to a six-week high on Wednesday, trimming the first monthly fall since July, amid reports suggesting a rebound in Asian economies fueled prospects for demand. Three-months copper surged 1.3% to $7,817 per metric ton in London, while the one for December delivery climbed 1.2% to $3.547 per pound in New York. Zinc, aluminum and nickel rose in London.
Norway's Krone rose in value versus both the Euro and the greenback on Wednesday, after the central bank announced it will not purchase forex for the oil fund in November. The Kroner appreciated 0.41% versus the Euro to 7.397 and strengthened 0.77% against the U.S. Dollar to 5.6875 in Oslo.