Annual producer prices in the Eurozone's industrial sector advanced 0.3% in July of this year from being steady a month earlier. Economists predicted a 0.2% modest advance. Prices for intermediate products became 0.5% more expensive, while energy and durable goods prices increased 0.6% both. The rise in producer prices indicate the recovery in the Eurozone economy.
Sales of new cars in the third economy of Europe slumped as much as 6.56% this August from a year ago to 52900 units, according to the data from Ministry of Transport of Italy. Meanwhile, the car market in the country is stabilizing, with drop in car sales became the slowest in two years. Analysts point out that August is
The British Retail Consortium reported that year-to-year retail sales in August increased by 3.6% which was 0.3% less than in July. Like-for-like (adjusted for floor space changes and opened/closed outlets) sales increased by 1.8% which was 0.4% less than in July. Despite the slightly worse numbers this added to the views that UK's economy is recovering as Britons seemed more
Supported by better-than-expected manufacturing data from Europe and China, Asian stock inched higher. Japanese benchmark index Nikkei 225 soared 2.91% to 13,968.00, hitting a three-week high, and adding further to Monday's gains. Additionally, the Topix, which is Tokyo's broader measure, advanced 2.66% reaching 1,147.55 points. Meanwhile, Japanese currency plunged to a one-month low against the U.S. Dollar, sending Japanese equities
The Aussie Dollar rose to one-week high as the RBA kept interest rates unchanged and opt out mentioning further stimulus. The Australian Dollar gained 0.6% to 90.36 U.S. cents, after advancing 0.9% a day earlier. It fetched 90.42, the highest since August 26. The currency also rose 0.7% to 89.80 yen after touching 89.94, the most since August 19.
Swiss economy expanded 0.5% in the second quarter, down from a 0.6% expansion recorded during the previous three months, however, this figure is stronger than analysts' expected. The main contributors for growth came from private consumption, which advanced a seasonally adjusted 0.7%, while public spending inched higher 0.1%. Despite strong domestic currency and struggling Eurozone, Swiss economy is expected to
The Japanese Yen weakens to the lowest level in a month as signs of global economy's improvement curbed demand for haven assets, while recent data from Japan showed progress in the BOJ's easing efforts. The Yen lost 0.2% to 99.54 per U.S. Dollar after fetching 99.70, the lowest level since August 2. Japan's currency bought 131.13 per Euro compared to
On a seasonally-adjusted basis the volume of retail sales in the Commonwealth of Australia rose by 0.1% in July, following a stagnation (0.0% change) in June and a 0.2% rise in May. The release was somewhat disappointing, since the broad expectations were for an accelerated growth of 0.4%.
The seasonally-adjusted data published today by the Australian Bureau of Statistics on the current account of the world's fourteenth largest economy suggest the deficit went up to $9,350m from $8,740m, or by 7% within the second quarter of this year. This means the difference between the imported and exported goods rose and the demand for the Australian Dollar supposedly fell.
According to China Federation of Logistics and Purchasing, China's tertiary sector expanded in August, being that the non-manufacturing purchasing managers' index was above a mark of 50, namely at 53.9. The figure, however, came in lower than the one posted previous month, when the rate of growth was a notch higher, at 54.1.
The Indonesian Rupiah fell to the lowest level since April 2009, wakening beyond 11,000 per U.S. Dollar amid record current account gap. Indonesia's trade shortfall reached $2.3 billion in July, against economists' expectations for $393 million, as imports advanced 6.5% on year, whereas exports fell for a 16th straight month. The nation's currency lost 0.5% to 11,035 per greenback at
One of the largest U.S. banking corporations is on the way to cut around 1000 jobs in the United States. The biggest of number of layoffs will take place in the Bank of America's branch in Beachwood, Ohio, where more than 950 will be cut. Moreover, almost 150 people will lose their workplaces in other Ohio cities. The bank
New car sales in the second economy of Europe continued to be in the downtrend in August with the new car registrations slumping 11% to 85.5 thousand units. Volkswagen had the biggest decrease among the leading car producers, whose sales fell 24%. Peugeot and Ford sold 17% and 19% less cars this August, comparing with the same month in 2012.
U.K. shares inched up after manufacturing advanced at a faster pace in Britain and China, while Vodafone Group Plc soared to the highest level in 11 months. Vodafone rallied 4%, after announcing that attempts to sell the stake in the wireless venture to the Verizone Communications Inc. have progressed. The FTSE 100 Index gained 1.8% to 113.37 points.
The second biggest telecommunications company in the world plans to sell all its shares in "Verizon Wireless" company to American "Verizon" for $130 billion. After the deal, "Verizon" will become a 100% shareholder in its subsidiary, while at the moment the American company owns 55% of shares in "Verizon Wireless". The deal is likely to become one of the largest
Copper advanced, following the release of manufacturing report in China, which surpassed expectations. Copper for settlement in thee months rallied 1.8% to $7,228 per metric ton and the December copper contract surged 1.8% to $3.29 per pound. The official manufacturing index touched the highest level in 16 months of 51.
The Australian and New Zealand currencies inched up from losses on the previous week as Chinese government report indicated manufacturing hit the highest level in 16 months, supporting the prospects for overseas sales from both countries. The Aussie added 0.9% to 89.83 versus the greenback and rallied 1.8% to 88.97 yen, while the kiwi gained 1.1% to 78.09 versus the
European shares increased, after data showed Chinese manufacturing activity beat economists' expectations. The Stoxx Europe 600 Index gained 1.6% to 302.14. Chinese manufacturing index jumped to 51 in August from 50.3 in the month before, beating analysts' expectations of 50.6, while manufacturing gauge in Europe rallied to 51.4 last month.
Indian(SENSEX) stocks soared to a two-week high as a reduction in oil prices opposed India's slowest GDP rise in four years. Oil prices dropped after Barack Obama seeked approval from Congress, delaying attack against Syria and easing concerns over disruption of Middle East crude outbound shipments due to imminent strike. The CNX Nifty on the National Stock Exchange added 1.4%
The common currency remained steady versus the greenback, following a set of reports from the major European economies. The 17-nation currency was flat at $1.3209 versus the U.S. Dollar and inched up 1.12% to 131.12 against the Japanese currency. German PMI expanded to 51.8 points last month, missing analysts' expectations of 52.0 points.
The British currency advanced versus the greenback, after U.K. manufacturing Purchasing Managers' Index overshoot expectations and touched the strongest level in two and a half years of 57.2 points in August. Pound inched up 0.50% against the Dollar to $1,5574 and jumped 0.41% versus the common currency to £0.8486, and rallied 1.72% to 154.72 versus the Yen.
West Texas Intermediate crude dropped for a third consecutive day after Obama announced no military action against Syria will be taken before Congress gives its approval. Futures lost 3.2% in New York, the biggest drop in 2 months. October delivery WTI shrank by $3.44 to $104.21 per barrel on the New York Mercantile Exchange, being at $106.47 as of 3:30
The Yen lost against its most-traded counterparts on signs Abe is making progress with policies that have contributed to weakening the currency. The Japanese currency dropped from a two-week peak versus the Euro as Japan's prime minister got support for a sales-tax addition. The Yen slid 0.4% to 98.60 per Dollar at 6:48 a.m. in London, while depreciating 0.4% to
The Sterling headed towards its largest monthly increase in a year versus the Euro after data today indicated consumer sentiment and house prices rallied in August and mortgage approvals grew in July. The British currency remained steady at 85.35 pence versus the 17-nation currency and traded at $1.5485.