The British currency reached the lowest level in three weeks versus the 18-nation currency ahead of Bank of England interest-rate decision on bets that officials will leave borrowing costs low. The Sterling slid 0.1% to 83.03 pence per Euro as of 11:07 a.m. in London, after falling to 83.34 on Wednesday. The Pound slipped 0.1% to $1.6294 after declining to
German shares rose, with the regional benchmark DAX Index bouncing off from the lowest level in seven weeks, as major companies as Daimler AG reported better than expected fourth-quarter profit. The DAX added 0.3% to 9,145 as of 9:53 a.m. Frankfurt time, snapping a four-day streak of losses. The HDAX Index climbed 0.4% today as well.
U.S. stock-index futures gained, indicating that equities will rise for a second straight day, as earning releases of major companies and jobless claims were awaited by investors. The Standard & Poor's 500 Index futures expiring in March added 0.5% to 1,752.8 as of 11:04 a.m. London time. Dow Jones Industrial Average contracts rose 0.5% to 16,436 today.
The total number of factory orders in Germany surprisingly fell in December of the previous year, as domestic demand weakened, showing that investors in Europe are still not confident about sustainability of Eurozone's recovery. Orders, including inflation and seasonal factors, were down 0.5% on a monthly basis after a 2.4% jump in November. Economists waited for a 0.2% rise.
Commerzbank AG, the second biggest bank in Germany, said on Thursday that it sold non-performing mortgages in Spain with a total amount of 710 million euro, as the bank wants to decrease risky assets by 600 million euro and issue 20 million euro of new capital. Stock prices of Commerzbank AG are picking up 2.9% to 13.04 euro per share
Vodafone Group Plc, the largest telecommunications company in the U.K., announced a 4.8% decrease in revenue for the Q4 to 9.8 billion pounds, while analysts predicted the indicator to decline 4.9%. More negative results in Europe were balanced by growth in Africa and Asia. Today, Vodafone Group Plc shares are rising 2.7% to 221.75 pence per share by 11:30 GMT
Volvo AB, the second-largest truck manufacturer in the world, plans to increase the previously planned job cuts from 2,000 to 4,400, as the company wants to bring annual savings to 4 billion kronor, starting from 2015. The reorganization will cost the company about 5 billion kronor. On such news, Volvo AB stocks are jumping 4.3% to 89.20 kronor per share
Deutsche Bank AG, the biggest investment bank in Europe in terms of revenue, will announce a second consecutive year of limits for cash bonuses, as European banks are asked to maintain more responsible payouts policy to avoid financial problems. The cap will probably reach 300,000 euro. Today, Deutsche Bank equities are rising 1.8% to 35.70 euro by 11:15 GMT in
Credit Suisse Group AG, one of biggest banks in Switzerland, announced its Q4 financial results that missed economists' predictions, as the bank a saved more money to pay for legal issues, namely 514 million francs. The net income totaled 267 million francs versus a 398 million francs average estimate. Today, Credit Suisse Group AG shares are dropping 1.2% to 26.72
U.K. shares rose for a second straight day as interest rate decisions were awaited from the Bank of England and the European Central Bank by investors. The FTSE 100 Index gained 0.8% to 6,511.61 as of 11:20 a.m. London time; however, it has declined 5.7% since January 20. The FTSE All-Share Index added 0.68%, while Ireland's ISEQ Index climbed 1%
Natural gas traded in New York increased on Thursday session before a government data revealed that inventories in the U.S. declined last week exceeding the five-year average notable as cold weather in the U.S. stays at the beginning of February. Natural gas for settlement in March gained 4.4% to $5.253 a million British thermal units on the NYMEX and was
The European benchmark Brent crude traded in London increased on Thursday after the Energy Administration Department showed in a report that stockpiles in the world's largest oil consumer, U.S., rose by 505,000 barrels in the week ended on January 31. Brent for delivery in March added 13 cents to $106.38 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil were little changed on Thursday trading session fluctuated near the highest figures in a three-day period after a government report showed that inventories in the U.S. shrank as demand rises. WTI for settlement in March rose as much as 20 cents to $97.58 per barrel on the NYMEX by 3:45 p.m. Singapore time.
Treasuries has declined this week and become the worst-performing bonds in the week starting on February 3 after recording a rally in January before Friday's report showing that payrolls in the U.S. increased after recording a drop the week before. The benchmark 10-year government bonds yielded at 2.67% as of 8:08 a.m. London time.
Consumer confidence in Switzerland improved last month mainly due to an increase in household sentiment about the overall economic situation in the region, the latest data published by the State Secretariat for Economic Affairs showed on Thursday. The country's consumer confidence advanced from October's -5 points to a level of 2 in December.
Merchandise trade balance in Switzerland came in surplus in the last month of 2013, however the figure was notably lower than economists originally expected, a report unveiled by the Federal Customs Administration showed on Thursday. The Swiss merchandise trade surplus recorded 0.5 billion franc in December after it was rose to 2.03 billion in the month before.
United Kingdom house price inflation slowed down in the month of January, however the rate of slow-down was lower than originally expected, a report published by the private company Lloyd Banking Group showed on Thursday. The U.K. house price index gained 7.3% year-on-year in January following an increase of 7.5% in the month before.
Manufacturing sector in France will likely to expand faster than originally expected in 2014 after showing a contraction in a survey revealed in October, the statistical office Insee unveiled in a survey on Thursday. The country's business investment is forecast to rise by 3% this year following a drop by 7% in 2013, while in October the same survey predicted
The central bank of Japan will likely to maintain its benchmark interest rates unchanged at a record lows until its inflation target of two percent is achieved, the BoJ Governor Kikuo Iwata claimed on Thursday. The Bank of Japan keeps the rates low even if the 2% inflation target is reached on an annual basis, unless the consumer prices stay
The U.S. Dollar index slightly fell on Thursday session after hitting the session highs on Wednesday after data published by the Institute for Supply Management showed that service sector in the country rose more than expected last month. The U.S. Index measuring its performance against most-traded peers gained from 81.065 to 81.240 reached earlier.
The Australia's Dollar advanced on Thursday rising versus the majority of its most-traded peers after bunch of recent favourbale reports signaled that the Reserve Bank of Australia may be done with interest rate cuts as the local economy improves. The so-called Aussie gained 0.6% to $0.8965 and it has added 2.5% this week.
The U.S. Dollar remained steady on Thursday trading session and traded above its eleven-week low against the Japanese Yen after recent economic data showed unfavourable results and as investors expect Friday's report to showed that payrolls rebounded last month. The Greenback traded at 101.47 yen gaining from its lowest level in almost 3 months at 100.76.
The 18-nation bloc currency held firm on Thursday trading session before the European Central Bank announced its decision to cut the benchmark interest rates further amid speculation of increasing deflation in the region. The Euro remained stable traded at $1.3528 rising from the lowest level in two months at $1.3477 reached on Monday session.
The European Central Bank may ease its monetary policy further on today's meeting as investors expect the bank to cut its interest rates by another 25 basis points, or 0.25%, after recent economic data revealed unfavourable results and slowing inflation. Investors bet on an interest rate of conventional 25 basis points, however, the cut may be lower of about 0.1-0.15%.