Swiss stocks declined on Friday ahead of confidence vote and after world leaders failed to reach a consensus on enlargement of the International Monetary Fund. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.29%, or 16.16 points, to 5,651.89 at 4:08 PM CET. The broader Swiss Performance Index dropped 0.46%, or 23.77
Royal Bank of Scotland, U.K.'s largest government-controlled bank, announced lower than expected pre-tax profit of 2 billion in third quarter 2011, as sovereign debt crisis in Europe slashed revenue from holding securities.
Number of Americans, who have found a job in October decreased to 80 thousand from 103 thousand in September, while the unemployment slid 0.1% to 9.0%, the Bureau of Labor Statistics said on Friday. Economists expected the economy to add 97 thousand jobs and the unemployment rate to remain unchanged at 9.1%.
Italy will allow the International Monetary Fund to monitor implementation of its austerity reforms, said European leaders on Friday. "We need to make sure there is credibility with Italy's targets -- that it is going to meet them," one EU source said.
Japanese stocks tumbled for a third consecutive day on Wednesday, after Greek Prime Minister George Papandreou promised a referen-dum on a new aid package from European Union. The Nikkei 225 lost 2.21%, or 195.10 points, to 8,640.42, while the broader Topix de-creased 2.11%, or 15.92 points, to 738.58.
Swiss stocks rose for a second consecutive day on Thursday, after the European Central Bank lowered the key interest rate to 1.25 percent. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 1.02%, or 57.00 points, to 5,668.05. The broader Swiss Performance Index increased 1.22%, or 62.03 points, to 5,161.72.
The U.K. service sector expansion slowed sharply in October. The Markit/Cips services purchasing managers' index (PMI) decreased to 51.3 from 52.9 in September, the Markit research agency announced on Thursday. Still, the reading above 50.0 shows industry expansion.
Number of Americans, claiming for unemployment benefits, decreased to 397 thousand last week from 406 thousand the week before, said the Department of Labour on Thursday. Economists expected the reading to decline to 401 thousand.
The European Central Bank unexpectedly decreased the key interest rate by 25 basis points to 1.25 percent on Thursday and new president Mario Draghi told the single currency union may slide into recession at the end of 2011.
Japanese stocks tumbled for a third consecutive day on Wednesday amid worries Greek referendum will undermine Europe's rescue plan. The Nikkei 225 lost 2.21%, or 195.10 points, to 8,640.42, while the broader Topix decreased 2.11%, or 15.92 points, to 738.58.
Swiss stocks gained on Wednesday, rebounding from two day losses. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.40%, or 22.48 points, to 5,611.05. The broader Swiss Performance Index rose 0.43%, or 22.01 points, to 5,099.69.
U.K. construction purchasing managers' index (PMI) unexpectedly advanced to 53.9 in October from 50.1 in September, said the Markit research agency on Wednesday. Economists expected the reading to stagnate at 50.1.
Number of Americans, who have found a job in October decreased to 110 thousand from 116 thousand the previous month, the ADP Employer Services said on Wednesday. Economists expected the figure to decline to 102 thousand.
France and Germany told Greece it should decide whether to stay in the monetary union by mid-December. "The Greeks must say quickly and without ambiguity whether they choose to keep their place in the euro zone or not," said prime minister of France, Francois Fillon.
"Papandreou's comments poured cold water on agreements that Europe finally got into shape last week"- Ayako Sera, a market strategist at Sumitomo Trust & Banking Co.Japanese stocks plunged on Tuesday after Greek Prime Minister called for a referendum on a new rescue package agreed at a European Union summit last week . The Nikkei 225 lost 1.70%, or 152.87 points,
Swiss stocks dropped on Tuesday after Greek prime minister George Papandreou decided to put the latest bailout package for the nation to a public referendum. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 2.49%, or 142.70 points, to 5,588.57. The broader Swiss Performance Index dropped 2.58%, or 134.23 points, to 5,077.68.
U.K. house prices rose for a second consecutive month in October, said property researcher Hometrack Ltd. The average price of a home increased 0.4% from September to ВЈ165,650 and was up 0.8% from a previous year.
U.S. manufacturing index declined to 50.8 in October, from 51.6 in September, the Institute for Supply Management said on Tuesday, as sales overseas declined on weaker consumer spending. Still, reading above 50.0 indicates industry expansion.
Greek Prime Minister George Papandreou decided to put the latest bailout package for the nation to a public referendum late Monday. "The Greek prime minister has taken this decision without talking it through with his European colleagues," said Jean-Claude Juncker, who chairs meetings of euro zone finance ministers.
The nation's currency plunged the most since 2008 versus the greenback after Japan intervened in the foreign exchange market on Monday. Finance Minister Jun Azumi declined to comment on the size of the intervention.
Swiss stocks plunged on Monday as some investors are worried that larger bailout fund will not prevent Europe's debt crisis from spreading. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 1.70%, or 99.36 points, to 5,753.30. The broader Swiss Performance Index advanced 2.29%, or 118.70 points, to 5,297.06.
U.K. house prices declined for a sixth consecutive month in October, said property researcher Hometrack Ltd. The average price of a home dropped 0.2% from September and was down 2.8% from a previous year.
U.S. business activity advanced at a slower pace in October, com-pared to September. An index measuring business conditions de-clined to 58.4 points in October from 60.4 points the prior month, said the Kingsbury International Ltd. A level above 50 points indi-cates expansion.
Italian Prime Minister Silvio Berlusconi told that only his cabinet can deliver the nation's promised austerity cuts as European leaders demand the country's government to do its part in combating Europe's debt crisis.