European equities fluctuated on Friday trading session on speculation that gains may be extended after the region's benchmark gauge recorded the largest yearly advanced since 2009 and as China's service sector slowed down in December. The Stoxx Europe 600 Index gained 0.2% to 326.32 as of 8:09 a.m. London time after it dropped the most since December 17 yesterday.
The European benchmark crude advanced on Friday trading session with the Brent-WTI premium rising after a report showed that manufacturing activity in the U.S. increased faster than expected in December and as stockpiles in the U.S. dropped to 364.7 million barrels. Brent for delivery next month added 0.1% or 15 cents to $107.93 per barrel on the London's ICE Futures
China's shares declined on Friday trading session with the local benchmark stock index recording a weekly fall after the country's non-manufacturing sector declined to the lowest level in four months in December according to a government report today. The Shanghai Composite Index tumbled 1.2% to 2,083.14 and it dropped 0.9% this week.
Emerging-market shares declined on Friday with the region's benchmark stock index falling towards the lowest level in seven weeks as the local currencies dropped after a report showed that service sector in China decreased further in December. The MSCI Emerging Markets Index fell 0.9% to 981.50 by 1:44 p.m. Hong Kong time, the least since November 13.
West Texas Intermediate oil slipped on Friday and traded close to its weakest level in a 30-day period on speculation that the U.S. stimulus measures may be trimmed further as the country's economy improves. WTI for delivery in February traded 13 cents lower at $95.31 per barrel on the NYMEX as of 2:17 p.m. in Singapore after it dropped $2.98
The Australian Dollar, the worst-performing most-traded currency in 2013 together with Yen, increased on Friday and was set to record its largest weekly gain in a two-month period amid speculation that the recent decline was too rapid. The so-called Aussie jumped 0.6% to 89.68 U.S. cents and it has gained 1.1% this week, the most since October 18.
Manufacturing activity in the U.S. declined in the last month of 2013 after rising at the fastest rate in two years on a sequential basis in November, a report revealed by the Institute for Supply Management showed on Thursday. The country's ISM purchasing managers' index slipped from November's 57.3 to a level of 57 in December.
Private construction spending in the world's largest economy advanced notably in November offsetting a decline in public construction with both indicators matching economists' forecast, the Commerce Department showed in a report yesterday. The U.S. construction spending gained 1% totaling $934.4 billion in the month of November from October's $925.1 billion.
A house prices growth in the United Kingdom accelerated at a faster pace than economists originally expected in the last month of 2013, a report revealed by the Nationwide showed on Friday. According to the report, the house prices in the U.K. added 8.4% on an annual basis in December following a 6.5% advanced in the month before.
The Japanese Yen strengthened on Friday rebounding from the lowest level in five years against the U.S. Dollar and the 18-nation bloc currency. The Yen increased 0.5% to 104.26 yen after falling to its five-year low at 105.45 yesterday and the U.S. Dollar traded 0.9% lower versus the yen this week, at the same time the Yen traded at 142.47
Wall Street shares ended lower on their first trading session in the new year as traders took profits after the benchmark index Standard & Poor's 500 recorded its best yearly performance since 1997. The Dow Jones industrial average dropped 0.82% to 16,441.35, the S&P 500 Index lost 0.89% to 1,831.98 and the Nasdaq Composite Index slid 0.80% to 4,143.07.
Non-manufacturing sector in the world's second largest economy declined in December falling towards the lowest level in four months mainly due to a drop in business expectations suggesting that the country's economy lost its momentum, the National Bureau of Statistics reported on Friday. China's service sector PMI fell from 56 in November to 54.6 in the following month.
Asian stocks slipped on Friday after reports worldwide showed that manufacturing activity improved mainly in the U.S., Germany and Japan, however service sector in the world's second largest economy declined together with factory sector. The MSCI broadest Asia-Pacific gauge outside Japan slid 1% and the Australian benchmark index ended lower as well.
The total number of applications for unemployment benefits in the U.S. declined during the week, which ended on December 28, as the typical for the end of the year volatility declined slightly. The number dropped to 339,000 from negatively revised 341,000 a week before. Economists were waiting for 344,000 applications, while the average four-week number of claims surged to 357,250.
Economy of Singapore posted a decline in the last quarter of the previous year, while the activity decreased in both manufacturing and service sectors of country's economy. GDP lost 2.7% on the annual basis in October-December quarter versus a growth of 2.2% a quarter ago. At the same time, analysts say that the decline can be short-term, as the global
JPMorgan Chase & Co, the biggest American bank by volume of assets, announced that it will stop clearing the international bank transfers in dollars for Latvia, the Baltic state, which acquired the euro yesterday. Therefore, the only foreign banks that will offer international money transfers in dollars for Latvian commercial banks are now German Commerzbank AG and Deutsche Bank AG.
New car registrations in France advanced 9.4% in December of the last year, totaling with 175,336 units, while the economic recovery in the country raises hopes that an increase in car sales will continue in 2014. At the same time, on a yearly basis car sales decreased 5.7%, while French manufacturers PSA Peugeot Citroen and Renault pushed their 2013 sales
Car sales in Spain jumped in December of the previous year, as the government support program continued to push car registrations up. Moreover, the economic recovery gained momentum in last months. Totally, there were 18.2% more cars sold in December, while on the annual basis the Spaniards bought 3.3% more cars or 722,703 units. In 2012, however, car sales in
Output in the manufacturing sector of the Eurozone registered the fastest increase since May 2011 in the previous month. The PMI index, which evaluates the activity in this sector of the region's economy, inched up to 52.7 points versus 51.6 a month ago. At the same time, economists say that the indicator varies between different countries, as in Germany it
The manufacturing sector of Italy posted a significant increase in activity in December of 2013, as the benchmark Purchasing managers' index grew to its biggest level in 32 months, reaching as much as 53.3 points against 51.4 points a month ago. Analysts predicted the PMI index to increase marginally to 51.8 points. The reading above 50 points indicates expansion in
Activity in the manufacturing sector of the U.K. continued to increase in December of 2013, while the benchmark PMI Index, which measures activity level in this particular sector of country's manufacturing sector, declined slightly to 57.3 points. In November the value of the indicator stood at three-year highest level of 58.1, but economists predicted the PMI to reach 58 points
Gold advanced from its biggest annual retreat since 1981 as a decline to the lowest level in six months was spurring the demand. The yellow metal for immediate delivery climbed 1.5% to $1,224.11 as of 3:25 p.m. Singapore time, after it touched $1,182.27 on December 31, the lowest level in six months, while silver jumped 2.7% since December 31.
The British Pound gained against the 18-nation currency ahead of U.K.'s manufacturing report that analysts expect to show that it has expanded in December. The Pound added 0.2% to 82.88 pence per Euro as of 7:55 a.m. in London, while the currency traded at $1.6573 after advancing 1.9% against the U.S. Dollar in 2013.
West Texas Intermediate advanced for the first day out of the last three on expectations that U.S. crude inventories most likely declined. Futures gained 0.6% after an annual climb of a 7.2% in year 2013. WTI for February delivery added 55 cents to $98.97 a barrel, after touching $98.74 at 9:26 a.m. in London.