Enrico Letta, the Prime Minister of Italy, said on Wednesday that European leaders seriously underestimate the possible U.K. exit from the EU. European skepticism in the U.K. is rising among its citizens. Moreover, country's current Prime Minister David Cameron announced recently that if the Conservatives are elected as the government party in 2015, the EU referendum will take place in
Basel Committee on Banking Supervision said on Wednesday that the world's largest banks need to save an extra $155 billion to meet capital rules of Basel III regulation, which was introduced in 2012. Moreover, a quarter of all big banks do not meet indebtedness limits as well. Nevertheless, banks have already cut the shortfall by almost 83 billion euros since
Government of Sweden raised more than $3.4 billion, as the country sold its remaining 284 million shares or 7% of Nordea Bank AB. The money the government received will be mainly spent on reducing the state debt. Currently Nordea is the largest bank in Scandinavia and one of the biggest in Europe. Nordea bank equities are currently losing 1.77% to
France President Francois Hollande has two more years given by the European Commission to reduce country's budget deficit and overhaul economy. Government aims to decrease shortfall of the budget to 3.5% of GDP in 2014 from 4.1% in 2013 by means of decreasing public spending by 15 billion euros and increasing taxes by 3 billion euros.
France's industrial sector business confidence declined surprisingly in the month of September following a series of gains in the previous months, the latest report published by the statistical office Ine showed on Wednesday. The industrial confidence index decreased from 98 points recorded in August to 97 in September, while it was projected to gain to 99 points.
Spanish industrial sector producer prices fell in August dropping for the first time in a four-month period, a report released by the statistical office Ine published on Wednesday. According to the report, the producer price index slipped 0.1% on a yearly basis in August after a 1.2% gain recorded in the prior month, while on a sequential basis, the PPI
Business activity leading index for South Africa advanced on a monthly basis in the month of July as six out of eleven indicators rose, the South Africa Reserve Bank reported on Wednesday. Month-on-month, the composite leading business cycle indicator gained 0.2% in July, while on an yearly basis the indicator jumped 1.5% in the same month after it added 1.8%
Consumer sentiment in the Europe's largest economy reached its strongest level in a six-year period at the end of September amid favourable outlook of the economy in general, a survey published by the research group GFK revealed on Wednesday. According to the survey, consumer confidence recorded 7.1 points in October, more than a level of 7 in September.
U.S. shares declined for a fourth straight day on worries over U.S. budget talks and economic growth as investors speculated that the Middle East tensions started to ease. The Standard & Poor's 500 Index retreated 0.3% to 1,697.42 as of 4 p.m. New York time, while the Dow Jones Average slipped 0.4% to 15,344.59.
Most European shares retreated as U.S. durable-goods and housing data were awaited by investors. The Stoxx Europe 600 Index slid 0.1% to 312.89 as of 8:07 a.m. London time; however, the equity-benchmark has gained 5.2% in September as the Fed did not start tapering its monetary stimulus programme.
Soybeans increased for the second straight session on Wednesday amid speculations that rains in west and central areas of the U.S., the world's biggest producer, will not be enough to aid crops, a report released by DTN showed today. Soybeans for delivery in November gained 0.3% an were traded at $13.165 a bushel as of 1:27 p.m. Singapore time.
Small businesses confidence in Japan advanced marginally in the month of September, according to a report released by the Shoko Chukin Bank on Wednesday. The index measuring confidence among small-scale industrial sector businesses moved up from 49.7 recorded in August to a level of 49.8 in September, while sentiment in manufacturing sector jumped from 48.4 to 50.4 in the same
South Korean currency declined on Wednesday snapping a two-day gain amid speculations that policymakers may intervene to reduce gains as global demand for regional stocks spurred the Won to its highest level in eight months. The Won dropped 0.3% to 1,075.70 per U.S. Dollar at 10:02 a.m. Seoul time after it touched the strongest since January 25 at 1,072.31 yesterday.
Gold futures fluctuated on Wednesday session due to concerns that the Federal Reserve will cut off its monthly bond-purchase programme before the end of 2013, however, the stimulus should stay intact until the end of this month. Gold for delivery in September rose 0.3% after it dropped 0.7% before it was traded at $1,325.65 an ounce as of 1:25 p.m.
West Texas Intermediate crude increased on Wednesday snapping its four day losing streak before a data showed that inventories in the U.S., the world's largest consumer of the crude, declined 1 million barrels to the lowest level in 18 months last week. WTI futures gained as much as 0.6% after they dropped to their lowest level in a 8-week period
The Canadian currency dropped as the tensions in the Middle East started to ease and that led to a drop in the oil price, Canada's biggest export. The Canadian Dollar traded 0.2% lower at C$1.03 per U.S. Dollar as of 5 p.m. Toronto time; however, the currency appreciated 0.1% earlier and touched C$1.0182 per U.S. Dollar, the strongest since June.
Japan's corporate service prices moved up more than economists originally estimated in the month of August, according to a data released by the Bank of Japan on Wednesday. The data showed that the corporate service price index climbed 0.6% in August, standing at 96.1, compared to an initial forecast of a 0.5% rise, while it jump 0.6% in the previous
U.S. Treasuries snapped a 3-day advance on Wednesday before an auction selling $35 billion in 5-year notes, the second auction of three this week totalling $97 billion. The U.S. benchmark 10-year government bonds yielded at 2.66% at 6:49 a.m. London time, while the Bloomberg US Treasury Bond Index has gained 0.8% this month, but it is still down 2.5% in
Emerging-market stock futures declined for the second straight session on Wednesday led by export companies amid concerns that demand from the US may stagnate, at the same time Indonesian shares fell as the country's currency dropped to 4-yer low. The MSCI Emerging Markets Index shrank 0.4% to 1,006.30 at 2:30 p.m. Hong Kong time heading for the lowest close in
The Japanese Yen and the U.S. Dollar held gains against almost all of their most-traded peers as shares in Asia and the U.S. fell on worries over nation's budget talks, spurring demand for safe haven currencies. The greenback was at $1.3472 per Euro from $1.3474 on Tuesday, when it added 0.1%. The U.S. Dollar traded at 96.68 Yen, while the
European shares dropped on Wednesday as investors waited on reports showing that US new houses sales advanced by the most in 3 years and durable goods gain 1% in August after they dropped 0.8% in the prior month. The benchmark index Stoxx Europe 600 has added 5.3% in the month of September and it has gained 9.9% in the Q3,
German 10-year government bunds rose on Wednesday extending its series of gain as data showed that consumer confidence in the Europe's largest economy advanced more than economists initially estimated. Benchmark 10-year yielded bonds slipped to the lowest level in a three-week period and were traded at 1.84% as of 7:18 a.m. in London.
Asian shares dropped for the second straight session on Wednesday reducing the local benchmark index's largest monthly gain since January last year after a report showed that US consumer confidence fell to its lowest level in four months. The MSCI Asia Pacific Index declined 0.2% to 140.24 at 2:20 p.m. Hong Kong time as 9 out of 10 companies tumbled.
The Kiwi declined versus all of its most-traded peers, prolonging yesterday's biggest monthly fall versus the U.S. Dollar, after nation's trade deficit surprisingly widened. The New Zealand currency slipped 0.7% to 82.26 U.S. cents at 4:45 p.m. Sydney time, while the Aussie dropped 0.3% to 93.59 U.S. cents after depreciating 0.4% on Tuesday.