German DAX index fluctuated between gains and losses on Thursday amid mixed earnings results and steady US jobless claims. Deutsche Bank lost 3.7% after reporting a 33% fall in 1st quarter profit. In contrast Volkswagen rallied 6.8%, after the car maker surpassed analyst forecasts for 1st quarter revenue and confirmed full-year outlook. Fresenius SE fell 3.2% after the firm made
UK shares traded higher on Thursday supported by Shell earnings results. However the upside effect was erased during the session after several negative news. Royal Dutch Shell gained 3.0% as its 15.7% gain in 1st quarter profit outperformed analyst predictions. AstraZeneca tumbled almost 6% after company posted disappointing 1st quarter results and lowered fiscal year profit outlook. AstraZeneca's CEO David
Hong Kong's Hang Seng index traded higher on Thursday as several companies in the region delivered satisfying earnings results. Hang Seng index gained 0.79% or 163.42 points and closed at 20,809.71. China Unicom Hong Kong rallied 3.9% after the company said its profit jumped 7 times in the 1st quarter. China Life Insurance advanced 1.5%. Although the company posted a
Japan's Nikkei Stock Average fluctuated between gains and losses on Thursday as Bernake indicated the Fed will step up in bond purchases in case it is needed. However, gains were erased by disappointing earnings reports from Japanese companies. Nikkei 225 closed flat at 9,561.83. Canon lost 2.2% after reporting a 11% gain in quarterly net income. Heavyweight Fanuc tumbled 6.1%
Dow Jones Industrial Average index extended gains on Wednesday supported by Boeing earnings report. Blue chip index advanced 0.7% or 89.16 points and closed at 13,090.72. Boeing jumped 5%, posting the biggest daily gain for the Dow. Its first-quarter profit rallied 58% as local and overseas Airlines are replacing their aircrafts with more fuel-efficient planes. On the downside Caterpillar the
S&P 500 index rallied on Wednesday as investors incorporated into prices the late Tuesday's news from Apple Inc whose profit surged 94% in the first quarter. US benchmark index jumped 1.36% or 18.72 points to 1,390.69. Apple rocketed 8.9% to USD 610 a share. The firm sold 35 million iPhone in the first three months of 2012. Lorillard dropped 4% after the
Gold appreciated for a third consecutive day as Fed's chairman Bernake announced he is ready to add more stimulus via bond purchases if economy will slow. Spot gold advanced 0.3% to USD 1,648.65 an ounce. Gold to be delivered in June added 0.4% to USD 1.648.40 an ounce. U.S. Dollar slightly depreciated.
South Korean economy accelerated reaching the fastest growth in a year despite European austerity and slower growth in China. Country's GDP climbed 0.9% in the first three months compared to previous quarter when it added 0.3%. The actual reading matches the average figure predicted by Bloomberg survey of 13 economists.
Crude oil fluctuated close to a one-week record high as Fed claimed they expect the economic growth to advance, encouraging the speculation that fuel demand will increase. Moreover Iran announced it may stop its nuclear expansion. June crude traded at USD 104.07 a barrel after climbing USD 0.57 yesterday. Brent oil to be delivered in June traded at USD 119 a
Deutsche Bank, the German biggest lender posted a 33% drop in its first quarter profit, citing debt crisis as a negative force that curbed trading. Net income declined to EUR 1.38 billion (USD 1.82 billion) compared to EUR 2.06 billion in the same period last year. Economists questioned by Bloomberg expected the profit to decrease less to EUR 1.56 billion. Deutsche
US stock indices rallied on Wednesday as investors incorporated into results the news from Apple Inc. The company reported a 94% gain in first quarter profit on Tuesday after the session. S&P 500 index jumped 1.36% or 18.72 points to 1,390.69 whereas Dow Jones Industrial Average advanced 0.7% or 89.16 points and closed at 13,090.72. Nasdaq Composite rallied 2.3% or 68.03 points and finished at 3,029.63.
European equity markets pared sharp gains on Wednesday as the bookings for US durable goods declined more than expected. Nevertheless markets closed on strongly positive note. Stoxx Europe 600 gained 1.0% while German DAX rallied 1.7%. British FTSE 100 experienced modest gains and added 0.2% while French CAC jumped 2.0%.
The Reserve Bank of New Zealand maintained steady its benchmark interest rate, leaving it at record low of 2.5%, citing mild inflation. Central Bank also pointed out that appreciating currency may prevent a surge in borrowing costs. According to investors speculations the RBNZ will not raise interest rates until 2013 because yearly inflation is below nation's average target.
The UK consumer sentiment rallied in March, reaching a 9-month record high, despite the fact that British economy declined during the first three months of 2012. The confidence index, estimated from a survey of 1000 respondents, jumped from 44 in February to 53 in March, Nationwide reported on Wednesday. British consumers spend more money on large scale items such as cars and
The number of orders for US durable goods declined in March, reaching a three-year record low as the fall in demand for aircraft overshadowed gains from business investment. Orders for goods to be used at least 3 years fell 4.2%, Commerce Department said on Wednesday. Economists questioned by Bloomberg expected the bookings would drop 1.7% last month. Core durable goods
Ben Bernake, Federal Reserve Chairman claimed US monetary policy currently is appropriate. Nevertheless he admitted Fed will apply additional bond purchases in case economy shows signs of weakening. Bernake repeated is prediction the interest rates would not climb until 2014. Yields for US long term bonds slightly declined while stocks advanced.
German shares followed their European and US peers on Wednesday, lifted by earnings reports. Benchmark DAX index climbed higher in the morning though pared gains in late trade on larger-than-expected fall for US durable goods orders. Financials Deutsche Bank and Commerzbank supported DAX, adding 2.7% and 4.5% respectively. Deutsche Lufthansa extended gains and surged 3.5%. At the moment of writing
British FTSE 100 index rose on Wednesday though the gains were limited as data unexpectedly showed UK GDP contracted for the second straight quarter, signalling economy is in recession. Chip-producer ARM Holdings jumped 3.3% on Apple earning report while miners Vedanta Resources and Kazakhmys rallied 4.3% and 3.1% respectively as metal prices surged. On the downside tobacco companies extended declines
Hong Kong's Hang Seng index faced a choppy session on Wednesday as region's shares struggled between gains and losses. Gains from financial and property stocks were erased by Internet major Tencent Holdings which dropped 4.3% after a rapid appreciation recently. Hang Seng index slipped 0.15% or 30.87 points and finished at 20,646.29. China Overseas Land & Investment gained 2.9% and
Crude oil futures to be delivered in June advanced 0.1% or USD 0.11 and reached USD 103.66 a barrel in Asian session on inventory report which showed supplies declined by 985 000 barrel last week. May heating oil climbed 0.3% or USD 0.01 to USD 3.14 per gallon whereas natural gas to be delivered in May also gained 0.3%, reaching USD 1.98
According to anonymous sources, the Bank of Japan is expected to expand its asset purchasing programme by 10 trillion yen, instead of the usual amount of 5 trillion yen. The decision should be announced on Friday (Apr 27) after BoJ policy board meeting. The national bank has come under pressure by politicians lately and is currently struggling to meet the
The UK economy unexpectedly contracted during the 1st quarter of 2012 as manufacturing output and construction activity declined. The British Gross Domestic Product fell 0.2% in the first quarter, following a 0.3% drop in the fourth quarter of 2011, Office for National Statistics said on Wednesday. GDP remained unchanged from the similar period year earlier. Economists predicted the economy to grow
Asian shares mostly climbed on Wednesday as Apple posted a 94% surge in its quarterly profit while Asia's financials and developers rallied on hopes for China's monetary accommodation. Japan's Nikkei Stock Average jumped 1%, Taiwan's Taiex surged 0.9% and China's Shanghai Composite Index added 0.8%. Hong Kong's Hang Seng index slipped 0.2%. Markets in Australia and New Zealand remained closed for a holiday.
Japan's Nikkei Stock Average climbed for the first time in 5 days as US housing market showed improvements and Apple posted a 94% gain in last quarters profit. Weaker Yen helped to support export stocks. Nikkei 225 index soared 0.98% or 92.97 points and closed at 9,561.01. Nomura Holdings added 2.4% on speculation it will post an improvement in quarterly