Swiss factory growth eased by more than economists originally expected in the month of October after the gauge measuring activity of managers in the sector advanced in previous months, the Credit Suisse reported on Friday. According to the report, the purchasing managers' index declined from 55.3 in September to 54.2 recorded in the following month.
European shares swung between gains and losses on Friday as equities were set to record a fourth weekly increase after a government data in the U.S. and China showed an unexpected improvement in manufacturing. The benchmark index Stoxx 600 Europe advanced 0.1% to 322.82 as of 2:10 p.m. London time and it has expanded 0.9% this week.
Asian currencies slipped on Friday ending a four-week long streak of gains amid speculation that the Federal Reserve may taper off its stimulus program sooner than expected on positive economic data in manufacturing. The Asia Dollar Index fell 0.4% on today's trading session following a 1.2% increase recorded in past four weeks.
German shares fluctuated on Friday as the local benchmark index DAX was set to record its fourth successive weekly increase after a government report showed that the manufacturing sector in the U.S. expanded faster than expected. The DAX fell less than 0.1% to 9,030.38 as of 3:52 Frankfurt time following an increase to the highest level all-time yesterday.
The Canadian currency fluctuated at C$ 1.0435 per greenback as of 10:50 a.m. in Toronto, after it touched C$1.0497 two days earlier, the lowest since September, after Thursday's report showed nation's economic output grew 0.3%, which is 0.2% more than expected, while the economists at CIBC expect GDP to grow 2.5% in this quarter. The loonie traded at 95.83 U.S.
Cocoa traded in London slipped on Friday amid speculation that demand for the commodity declined and on signs of ample supplies as harvest in West Africa accelerated. Cocoa with delivery in March declined 0.9% to 1,688 pounds, or $2,701, a ton as of 9:56 a.m. on the NYSE Liffe in London, while December cocoa futures fell 1.2% to $2,645 a
Manufacturing sector in the world's largest economy surprisingly advanced at a faster pace than economists originally expected in October, a report published by the Institute for Supply Management revealed on Friday. According to the report the ISM purchasing managers index rose from 56.2 in September to 56.4 recorded in the following month.
Manufacturing growth in the world's second largest economy reached the highest level in eighteen months in October as companies increased production suggesting that the nation's economy is improving modestly, a data revealed by the National Bureau of Statistics showed on Friday. The factory PMI gained from 51.1 in September to 51.4 recorded in the following month.
Property inflation in the world's second largest economy accelerated in the month of October raising concerns of a potential real estate bubble in the country, a survey published by real estate services company E-House China showed on Friday. China's new homes prices gained 0.8% on a monthly basis on October, while year-on-year the prices climbed 10.5%.
U.S. Treasuries decreased on Friday pushing the benchmark 10-year yields to the strongest level in more than a seven-day period before a government data showed that manufacturing sector advanced for the fifth successive month suggesting a potential end of stimulus. 10-year bonds yielded at 2.58%, traded 2 basis points lower at 9:33 a.m. in New York, the strongest level since
West Texas Intermediate crude declined on Friday heading for the streak of weekly drops since June 2012 on concerns that stockpiles in the world's largest consumer, U.S., are higher than expected and amid speculation that the ECB may cut interest rates on the next week's policy meeting. WTI for delivery in December slipped 1.1% to $95.30 a barrel as of
Eurozone's government bonds increased on Friday amid speculation that the European Central Bank may cut the benchmark interest rates as early as the next policy meeting taking place next as the 17-nation bloc inflation is shy of target of 2%. Spanish 10-year yields dropped 0.02% to 4.02 after the rates fell to 3.98% yesterday, while German 10-year bunds yielded at
Government bonds in Italy advanced on Friday pushing the benchmark 10-year yield towards the weakest level since June amid speculation that the ECB may cut its interest rates on the next policy meeting. Italian 10-year yields decreased three basis points, or 0.03%, to 4.10% as of 1:47 p.m. in London following a drop to 4.08%, the least since June 5.
U.S. shares advanced on Friday after the benchmark index S&P 500 recorded its first two-day fall in a three-week period before a government data showed that manufacturing sector improved and amid speculation that Fed may curb stimulus sooner than expected. The S&P 500 Index surged 0.3% to 1,762.14 as of 9:51 a.m. New York tome and it has risen 0.1%
One of the largest U.K. banks, the Royal bank of Scotland, plans to create a new internal division to keep there all bad assets. Recently, the U.K. Chancellor of Exchequer George Osborne denied the separation of the RBS into two different banks. The new division will acquire 38 billion pounds of bad debts. Moreover, the bank is going to write
According to the YouGov latest poll of U.K. businesses, 46% of 1,024 respondents said that the cost of matching all European Union regulations is much higher than the amount of economic benefits the businesses get from the membership. Such a view is supported by the Conservative party, which promises to hold the EU in-and-out referendum in 2017, if it wins
Sovereign credit rating of Ukraine, the largest country in the Eastern Europe, was cut by S&P rating agency to B- level from the previous B level. It is said that such a decision was made, based on the negative outlook for country's national currency, which can be devalued due to lack of reserves of foreign currency. Now, the new Ukrainian
Danske Bank A/S, the largest bank in Denmark, is currently working on the effectiveness increase in order to get a rating upgrade under a new management team with CEO Thomas Borgen. Bank's current rating from Moody's is Baa1, while Nordea bank holds four-step higher rating of Aa3. Today, Danske Bank A/S shares are trading up 1% to 129.60 Danish kronor
Mario Draghi, the president of the European Central Bank, announced on Friday that the Eurozone will face a considerable deflationary risk in the nearest future, as the inflation rate in the single currency region dropped to 0.7% in October from 1.1% in September, still being below the 2% target rate. Moreover, the ECB has few options remaining to deal with
Manufacturing industry in the United Kingdom continued to show an increase in activity, as the benchmark PMI Index, which evaluate the level of activity in this particular sector, decreased slightly to 56 points in October, still being above 50 points. Analysts say that the U.K. manufacturing sector may significantly influence economic growth, even though it accounts for only 11% of
The Eurozone's currency depreciated against it's major peers, on speculations that European Central Bank is going to reduce interest rates in the upcoming week, while the unemployment rate in the Euro-area jumped 12.2% to a record high. The Euro retreated 0.4% against the U.S. Dollar, thus having five day loosing streak with 2% drop this week. The shared currency also
Australia's Dollar advanced against its major peers, after China announced increase in manufacturing activity. Improvement of China's economy is especially good for Australians, because most of their exports goes to China. The Aussie surged 0.44% against the Eurozone's currency and 0.33% versus the U.S. currency, however the Australian Dollar is still set for 1.1% weekly drop against the U.S. currency.
Today Asian stocks faced decline, from which the biggest drop had for Japan's Topix index of 0.9%, while the MSCI Asia Pacific Index retreated 0.3%.The Sony Corp. tumbled 11%, thus having the biggest fall in five years, after their full-year profit forecast decreased 40%. The NTT Data slipped 4.8%, after announced lower full-year forecasts. Panasonic Corp. gained 6.2%, thus having five day
The Japanese Yen appreciated against all of it's 16 major counterparts, after a decrease in stocks led to a change in investors attention for safe-haven currency. The Yen had most significant advance of 0.59% versus the shared currency, thus reaching the highest level in three-weeks, after reported that Eurozone had record-high unemployment rate in September. The Yen also advanced 0.37%