West Texas Intermediate oil increased for the second straight day on Tuesday after a report showed that inflation in China rose less than expected in March and as U.S. crude inventories reached the highest figure in 22 years. May WTI futures gained 46 cents to $93.82 a barrel on the NYMEX and it was traded at $93.70 at 9:15 a.m.
Consumer price inflation in China slowed down notably in March after it reached a ten-month high in the previous month amid receding of seasonal increase in food prices, a data released by the National Bureau of Statistics showed on Tuesday. A report showed that the consumer price index added 2.1% on an annual basis in March after it rose 3.2%
Business sentiment in New Zealand improved to its highest level in three years during the first three months of 2013 as the economic activity in the country was strong in the Q1 maintaining the momentum from the Q4 of 2012, the New Zealand Institute of Economic Research reported on Tuesday. Business optimism moved up from 19% to 32%, while domestic
U.S. blue chips advanced on Monday as earnings season was set to kick off. The Dow Jones Index rose 0.3%, or 48.23 points, to 14,613.48. Consumer goods and services sectors added the most by jumping 1.1% both. Bank of America Corp surged 2% to $12.21, as the bank launched a "video chat" function in its ATMs, enabling to connect a
Tokyo Stock exchange traded red on Tuesday as investors raised concerns over the market heating up too fast after BOJ said to increase monthly bond purchases to end the deflation and boost the economy. The Nikkei 225 Index lost 0.24 points to 13,192.35. OKUMA Corp, a machine tool builder, surged 8.9% to 760 yen for a biggest jump on Nikkei,
Precious metals except for palladium moved lower on Monday as investors sold safe haven assets for profits after Friday's jump in prices. Meanwhile, signs of weakening investment demand also depressed the commodity complex. Gold tumbled on profit taking and a rebound of the U.S. Dollar. The yellow metal also was pressurized by soft investment demand. According to the latest data, holdings
Farm commodities except for coffee finished on the positive note on Monday on concerns over winter weather across the Upper Plains. Additionally, broadly weaker US Dollar and improved demand for riskier assets lifted rural commodities. Wheat rose, helped by forecasts of colder-than-normal temperatures across the Upper Plains. However, gains were cut by positive USDA revision of crop conditions. About 36%
Energy futures apart from natural gas bounced off recent lows on Monday amid fresh worries over supply security in Africa. The rebel group in Nigeria said it killed about 15 security employees in an attack in Bayelsa state. Crude oil drew strength from escalated tensions in Africa and hopes that a massive monetary easing plan by the BoJ will boost
Industrial metals were bullish on Monday on positive German industrial production data. Moreover, weaker greenback coupled with copper mine workers strike in Chile lent support to the commodity group. Meanwhile, market participants were cautious ahead of the key China's numbers due on Tuesday and Wednesday. Aluminum climbed as rising cancelled warrants at the LME signal on strong spot market activity. Moreover,
U.S. equities advanced on rising optimism that the first-quarter profits would favor a rebound in the market after posting biggest decrease on week this year. The S&P 500 Index rallied 0.6% to 1,563.07. All but one group in the benchmark index edged higher. Advanced Micro Devices jumped 13.1% for the biggest surge in the S&P 500 on news Microsoft Corp.
Majority of emerging-market shares declined on Monday as rebound in eastern European stocks overshadowed concerns about infections from a bird-flu virus in China and a rising tension between North and South Korea escalated into threats of nuclear device detonation. The MSCI Emerging Markets Index gained less than 0.1% to 1,008.14 as 344 stocks fell and 287 rose on Monday.
Industrial output in Switzerland moved up in the last three months of 2012, but the rate of acceleration was much slower than in the Q3, the Federal Statistical Office reported on Monday. The report said that the Swiss industrial production rose by 1.7% on an annual basis in the Q4 following a growth of 2.5% in the previous quarter, while
Investor confidence in the 17-nation bloc decreased for the second straight month in April, when the pace of contraction was faster than expected, a report unveiled by the think-tank Sentix showed on Monday. The investor confidence index slipped from March's level of -10.6 to -17.3 in April, while the index was originally expected to drop to -12.8.
Industrial production in Germany recovered more than preliminary estimated in February from the drop recorded in the month before, a data released by the Economic Ministry showed on Monday. The data said the industrial output gained 0.5% in February after it decreased by 0.6% in the previous month, when the recovery was led by a 2.4% rise of investment goods
Japan's current-account balance recorded its first surplus in a four-month period in February as the value of incomes from overseas investments were boosted by the weaker Yen and as holiday during the Lunar New Year reduced Chinese exports to Japan, the Ministry of Finance reported on Monday. The result was a surplus of 637.48 billion yen, or $6.5 billion, exceeding
Soybean increased for the first time in a four-day period on Monday as investors bet on rise of the commodity after it dropped to the weakest level in three months amid new bird flu discovered in China. Soybeans for May delivery advanced by 1.2% to $13.785 a bushel on the CBOT and it was little changed at $13.7575 at 2:04
Business sentiment of the service sector in Japan increased for the fifth month in a row in March suggesting that weak Japanese currency and advance in stocks prices helped by the Bank of Japan's aggressive monetary stimulus measures, the Cabinet office reported on Monday. The service sector sentiment index moved up from 53.2 in February to 57.3 in March, while
Gold declined on Monday as holdings in exchange traded products (ETP) fell 0.6% last week reaching its weakest level since August 2012 at 2,434.436 metric tons, which curbed demand for the precious metal. Bullion for the delivery in April dropped 0.3% to $1,575.83 an ounce and it was traded at $1,579.05 at 11:52 a.m. Singapore time, after it touched it
West Texas Intermediate oil rose on Monday rebounding from its largest drop in a week since September 2012, while Brent's premium to WTI futures was close to the weakest level in 10 months. May WTI futures gained 69 cents to $93.39 a barrel on the NYMEX and were traded at $93.36 earlier on Monday London session, whereas the Brent's premium
Copper bounced back from a three week losing streak on Monday after a report showed that orders to remove the metal from warehouses increased to the strongest level since at least October 1997 and on strikes in Chile concerns. July Copper futures gained 1.2% to $7,494.75 a metric ton on the London Metal Exchange after it was traded at $7,480
Hong Kong equities traded green on Monday, as airlines rallied after the last week's decline triggered by concerns over a new bird flu burden in China. The Hang Seng Index added 0.1%, or 21.56 points, to 21,749.77. Cathay Pacific Airways Ltd jumped 4.6% to HK$12.84, rebounding from the seven-month low. The company's shares have lost almost 20% of their value
Asian shares increased on Monday as gains of Japanese stocks offset losses of Taiwanese and Chinese shares after the Japan's central bank unveiled the new stimulus monetary policy program to fight deflation in the country weakening the nation's currency. The MSCI Asia Pacific Index advanced by 0.5% to 134.12 at 3:14 p.m. Tokyo time.
German government 10-year yields were little changed on Monday before a report showed that the industrial output in the 17-nation bloc expanded by 0.3% in the month of February. The benchmark 10-year bund yield was at 1.22% earlier on Monday London session after it decreased to the weakest level since July 2012 on April 5 at 1.20%, while last week
Japanese shares surged on Monday, as BOJ launched new stimulus package to boost the economy and end deflation in the country. In addition, BOJ will increase its bond purchasing program to 7.5 trillion yen, up from previously forecast 5.2 trillion yen. The Nikkei 225 Index jumped 2.8% to 13,192.59 points, the highest value since August 2008. 218 out of 225