The volume of retail trade added on a monthly basis 1.2% in the 17-nation bloc, while in the larger European Union it expanded by 0.9% in January, following respective 0.8% and 0.7% decreases in retail trade the month before, according to a report released by Eurostat. Year-on-year, the retail sales index declined by 1.3% in the Eurozone and dropped by
According to the Institute for Supply Management, the U.S. non-manufacturing PMI fell to 55.2 in January, following a recorded figure of 55.7 in December. The figure was matching the preliminary estimates and, still being in the positive ground, indicates expansion of the economy. Further forecasts expect a slide down to 55.0."The ISM survey signals that growth in the service sector
The Canadian Dollar reached its weakest level in eight months versus the U.S. Dollar after the Bank of Canada stated that in the nearest future it would not raise-up interest rates due to inflation, that is slowing more than it was expected. The loonie dropped 0.5% to C$1.0305 versus the greenback after previously depreciating 0.7%. One Canadian Dollar buys 97.04
Due to increase in government investment and exports, Australia's economy expanded by adding 0.6% in Q4 of 2012 and 3.1% for the complete year. Those figures topped economist's expectations, as the annual growth was at its highest level since 2007. In seasonally adjusted terms, the main contributors to GDP were manufacturing, that added 2.1%, health care and social assistance, that
German shares extended their five-year high, as Henkel AG and Lanxess jumped and optimism among investors rose, as central banks said to continue stimulus measures. The DAX Index climbed 0.8%, or 59.33, to 7,929.72 at 5:31 p.m. in Frankfurt. Muenchener Rueckversicherungs AG rallied 3.1%, the most in the index, to pace gains in financial shares. Furthermore, Lanxess AG posted the
U.K. shares kept advancing on Wednesday, remaining at its five year high on positive data about U.S. private payrolls that beat the estimates. The FTSE 100 Index soared 0.3%, or 15.27 points, to 6,447.18. All except one sector edged higher in the index with basic materials posting the biggest gains. Vodafone Group Plc. rallied 6.4%, the most in four years
GDP of the 17 nations sharing the Euro slid 0.6% in the Q4 versus the Q3 of 2012. Comparing Q4 of 2012 with the same quarter the year before, in the Eurozone GDP decreased 0.9%. During the whole year of 2012, GDP contracted by 0.6%."This was the worst quarter in the recessionary cycle," said Mads Koefoed, an economist at Saxobank.
Hong Kong equities closed higher on Wednesday with the Hang Seng Index rising 0.96%, or 217.34 points, to 22,777.84, as financials and exporters were boosted by overnight gains on Wall Street. All but one group in the index advanced at least 0.4%. Belle International posted biggest gain in the gauge, as BofA Merrill Lynch maintained the retailer's "buy" rating. China
Japanese equities extended their gains, as the U.S. services industry accelerated its growth pace to the fastest in a year on rising optimism over more monetary stimulus. The Nikkei 225 Stock Average jumped 2.1% to 11,932.27, yet with the total volume declining by 22%. All sectors within the gauge edged higher, especially the blue chip companies exporting to the U.S.
Copper appreciated for a third day on service sector in the U.S., the second largest consumer of copper, expanded more than forecast, increasing demand for the commodity. The contract for Copper delivery in 3 months gained 0.5% and was settled at $7,812.50 a metric ton in London, May-delivery Copper advanced 0.4% to $3.5285 per pound in New York. According to
The Pound depreciated versus the U.S. Dollar for the first time this week ahead of Bank of England monthly two-day meeting in London to decide whether to expand monetary policy. The Sterling fell against 15 of its 16 main counterparts on economists expect the BOE to increase assets purchase by at least 25 billion Pounds from 375 billion Pounds. The
Dow Jones Industrial Average reached a record high level on growing optimism about central banks and China's pledge to maintain the growth target. The Dow climbed 0.9%, or 125.95 points, to 14,253.77, beating its previous highest level at 14,164.53. 27 out of 30 blue chip companies edged higher. Cisco Systems jumped 2.3%, the most in the gauge, adding to
Farm commodities apart from coffee advanced on Tuesday amid hopes for robust China's demand. However, signs of improved weather conditions in the US as well as worries over a record high harvest in Brazil put heavy pressure on the commodity complex. Wheat rose despite forecasts that global wheat output will recover in 2013-14 mostly due to expected jump of 14% in
Energy futures traded mostly higher on Tuesday amid better-than-expected numbers from the US non-manufacturing sector and positive outlook on China's economy for 2013. Meanwhile, market players focused on the EIA supply report due on Wednesday. Crude and Brent oil jumped as positive news from the US and China improved perspectives for energy demand. Moreover, expectations of a bullish EIA report were
Industrial metals rose on Tuesday after China left unchanged its growth target for 2013 as the government wants the country to expand gradually and maintain social stability. Moreover, positive US numbers boosted the commodity group. US non-manufacturing sector expanded faster than expected last month. Aluminum moved higher amid positive headlines from the US and China. However, elevated LME inventories, which remained
Precious metals rebounded on Tuesday on after Federal Reserve Vice Chairman Janet Yellen said that the Fed should continue its bond-buying activities. Moreover, expectations that the BOJ will also ease its monetary policy supported the commodity complex. Gold climbed on hopes that the Fed will stick to loose monetary policy to spur economic activity. The yellow metal also drew strength from
U.S. blue chips rose, as China pledged to maintain its growth target of 7.5% and investors look forward to more monetary stimulus measures from central banks. The S&P 500 Index advanced 1% to close at 1,539.79. All ten groups in the S&P 500 gauge edged higher. TripAdvisor Inc. posted biggest gains in the index with its shares rallying 4.8% to
Asian shares advanced, with the regional benchmark index reaching the highest level since August 2011, as U.S. stocks jumped to a record high as activity the U.S. service industry grew at the fastest pace in a year. The MSCI Asia Pacific Index added 1.1% to 135.85 at 12:11 p.m. in Tokyo. The Nikkei 225 Stock Average surged 1.3%, Hong Kong's
India's Rupee advanced the most in more than a week amid the U.S. service industry improvement, which spurred stocks to a record high, will increase inflows to emerging markets. The Rupee rose 0.5% to 54.6700 per U.S. Dollar at 10:10 a.m. in Mumbai, the biggest advance since February 25. One-month implied volatility declined 10 basis points to 9.62%.
The Korean Won rose for a second straight day as an advance in U.S. equity markets urged global funds to purchase South Korean stocks. The Won rose 0.2% to 1,084.40 per U.S. Dollar at 10:08 a.m. in Seoul, with one-month implied volatility falling 11 basis points to 6.73%. Overseas funds increased their holdings of the nation's equities and bonds to
The Aussie Dollar advanced versus most of the major counterparts as data showed Australia's economy expanded in the Q4, driven by exports and household consumption. The Dollar gained as much as 0.3% to $1.0285 at 4:52 p.m. in Sydney after rising 0.6% yesterday, the most since February 22. The Australian Dollar climbed 0.2% to 95.87 yen after earlier reaching 95.92,
Before the December's GDP growth data were released by the Australian Bureau of Statistics, the Reserve Bank of Australia made the decision to keep the cash rate at 3%, matching the market expectation, after a cut by 1.25% in 2012. Gross domestic product of the country is expected to rise 0.7% in the Q4 with annually acceleration of 3.1%, the
Service sector of Spain recorded further slow-down in the month of February as new businesses and business activity fell at the faster rates than expected and as new orders dropped more than in the prior month, the Markit Economics reported on Tuesday. The Business Activity Index decreased for the first time in a five-month period in February, when it fell
According to latest ABS Retail Trade figures, seasonally adjusted, Australian retail sale turnover gained 0.9% in January 2013, following a fall of 0.4% in December 2012 and 0.2% in November 2012. The largest input was done by other retailing (2.6%), household goods retailing (1.3%), food retailing (0.3%), cafes, restaurants and takeaway food services (1%), clothing, footwear and personal accessory retailing