UK stocks moved higher on Tuesday amid positive quarterly reports from the biggest European companies. However, the upside was capped after Spanish PM said the country will apply for a bailout "when it will be in the country's interests". Meanwhile, global stock trading remained subdued as US trading was disrupted by Hurricane Sandy. The FTSE 100 Index gained 0.83% to
Hong Kong equities retreated further on Tuesday after the BoJ announced widely expected stimulus measures. Property developers continued to push Hong Kong blue chips index into the red territory amid concerns over fresh property-price curbing measures. Meanwhile, traders remained cautious ahead of the US consumer confidence data due later in the day. The Hang Seng Index slid 0.38% to end
Japanese shares tumbled on Tuesday after the BoJ eased its monetary policy by increasing the size of the asset-purchasing programme by JPY138 billion. The move was widely expected. Stronger Yen despite anticipated stimulus measures pushed exporters lower. Weakness in Japanese stocks and an appreciation in the national currency suggested that the markets had priced in the decision of the BoJ
Australian equities closed on the positive note on a quite Tuesday's trading as Wall Street was closed because of the Hurricane Sandy. The S&P/ASX 200 Index added 0.20% to close at 4,485.70. Nine out of ten sectors included in the index moved higher. The biggest gains posted telecommunications. M2 Telecommunications and Singapore Telecommunications jumped 0.79% and 0.40%. Virgin Australia Holdings
U.S. stock futures declined on Tuesday as investors estimated the financial impact of the hurricane to be billions of Dollars. Dow Jones futures slid 0.3% to 13,016, after falling 1% during an overnight trading. Futures on the S&P 500 tumbled less than 0.1% to 1,407, while those on Nasdaq 100 dropped 0.4% to 2,649.
U.K. retail sales advanced more than expected in October, jumping to the highest level in three months, the Confederation of British Industry showed on Tuesday. The retailers' index soared 24.0 points to a final reading of 30.0 points, compared to 6.0 in September. Economists had forecast a 1.0 point increase. Following the data, GBP/USD gained 0.25% to 1.6073.
After a major decline in August, retailers faced brightened business situation in September. The UBS Swiss consumption indicator improved to 1.07 in September, compared to a downwardly revised 1.02 in the preceding month, the Swiss bank's representative said on Tuesday. In July the index was at 1.72.In the statement, UBS reported that new car registrations posted a heavy drop of
The Bank of Japan announced changes in its monetary policy on Tuesday. The central bank said that it had missed its goal of 1% annual inflation, therefore it will maintain its current interest rate between 0 and 0.1%, and that monthly bond purchased will be at the level of 1.8 trillion Yen. Economists were also widely expecting that there would
The number of jobless individuals surged 20,000 on month in October as firms continued to cut costs via decreasing their labor force, the Federal Labor Agency reported on Tuesday. Economists had forecast a 10,000 rise after 12,000 increases in both September and August. On unadjusted basis, the number fell to 2.75 million from 2.79 million in September.
Italy's 10-year government notes rose on Tuesday, with the yield dropping from a two-week high, after the country reached its maximum target in an auction of 7 billion Euro of debt. The 1-year yields slipped 4 basis points to 4.98%, cutting three days of advance. The 5.5% note maturing in November 2022 added 0.28 to 104.5, while the 5-year yields
Swap rate on the contract with a maturity for January 2015 dropped one basis point, or 0.01%, to 7.79%. Together with it, the Real depreciated by 0.3% to 2.0329 per Dollar. Swap rate falls six day in a row, as economists lowered inflation estimations for the Brazil next year. Also, Brazilian governors cut the key interest rate for a 10th
The Stoxx Europe 600 Index was higher by 0.4% to 270.63 at 8 a.m. in London. Investors trade on BP Plc, second-biggest Europe's oil company, and Deutsche Bank financial results for the third quarter, which have beaten street estimations. Recently, banks' results bring a lot of sensitivity in the markets: Deutsche bank announced that a third quarter profit is up
The Canadian Dollar, also known as the Loonie, dropped by 0.4% to C$1.0010 in the end of North U.S. trading hours. The Canadian Dollar was weakening five consecutive days and currently is below a parity level with the U.S. Dollar for the first time since August. The Loonie decreased as U.S. trading was canceled and Moody's warned on October 26
On Tuesday, futures for gold edged higher in the European morning trade, following a BoJ decision to increase the asset purchase program. On the NYMEX, December delivery futures for the precious metal were traded at $1,714.65 per troy ounce, which was a 0.35% growth for the day. The commodity's support was likely to be at $1,688.85, while the resistance could
On Tuesday, oil was declining,and almost reached a 4-month low, as refiners closed their operations on the Eastern coast of the U.S. because of Hurricane Sandy. December delivery futures for light sweet crude were down $0.09 to trade at $85.45 per barrel by 3:19 p.m. in Singapore. December delivery futures for Brent eased $0.12 to $109.32 per barrel.
On Tuesday, Spain's government notes were little changed, following a report that showed a contraction in the economy for the fifth consecutive quarter. The yield on benchmark ten-year government bonds was unchanged from the yesterday's figure at the level of 5.66% by 8:03 a.m. in London.
Instituto Nacional de Estadistica reported on Tuesday that the Spanish economy contracted less than expected in September. Gross domestic product of Spain decreased by 0.3% last month, compared to a 0.4% decline in the preceding month. Economists, however, expected that Spanish GDP would fall by 0.4%.
On Tuesday, the Australian Dollar was gaining versus its U.S. counterpart, but gains were capped, since traders eyed Hurricane Sandy. AUD/USD hit a daily high of 1.0371 in the European morning trade, and later consolidated at 1.0366, which was a 0.34% gain for the trading session.
On Tuesday, the New Zealand Dollar was traded higher versus the U.S. counterpart on Hurricane Sandy. NZD/USD hit a session high of 0.8222 in the European morning trade, and later consolidated at 0.8220, which was a 0.34% increase for the trading session. The support was likely to be found at 0.8170, while the resistance was prone to be at 0.8266.
On Tuesday, Asian stocks were broadly lower in the late Asian trading hours, following the BoJ announcement that it will loose its monetary policy by increasing the size of asset purchase program. Hong Kong's Hang Seng index declined by 0.65%; Australian ASX/200 index grew by 0.2%, while Japanese Nikkei 225 index lost 1%.
On Tuesday, the Bank of Japan increased the size of the asset purchase program by 11 trillion Yen in attempts to boost the economy and weaken the currency. The asset purchase program was increased to the level of 66 trillion. The bank also announced that it will maintain its current interest rates of 0.1%.
Agricultural commodities were mixed on Monday with softs moving higher and grains retreating. Adverse weather conditions in Brazil and US lifted the commodity group. At the same time, stronger greenback coupled with weak demand for US exports pushed farm commodities lower.Wheat was the worst-performer, falling for the third consecutive session on concerns over demand for US supplies. The USDA reported
Energy futures were mixed on Monday as refineries across the US East Coast halted production amid storm Hurricane Sandy. Broadly stronger US Dollar also weighted down on energy prices. Crude oil moved lower due to temporary closures of the refineries across the US East Coast amid threat of Hurricane Sandy. Moreover, bloated US crude oil inventories continued to create pressure
Industrial metals moved lower on Monday as global economic outlook continued to deteriorate. Uncertainty over whether Spain will apply for a bailout and whether Greece will be able to meet its austerity targets created heavy selling pressure on riskier assets. However, speculation that the BoJ will announce stimulus measures at its meeting on October 30 limited losses of base metals.Aluminum