US shares halted their rally on Thursday on disappointing US jobs data. US jobless claims rose to three-month high last week, indicating that the national labour market is still facing downside risks. Moreover, rising cautiousness during the two-day EU summit created additional pressure on the US equities. However, positive news from the US manufacturing sector restricted the downside. The S&P
Agricultural commodities were mixed on Thursday amid broadly stronger US Dollar and easing concerns over China's demand. At the same time, upward revisions of Brazilian crop estimates created heavy pressure on farm commodities. Wheat was the top-performer, advancing by 2.05% on falling global supplies. Rabobank cut its estimate of Australian wheat crop by one million ton this year, citing dry
Energy futures apart from natural gas retreated on Thursday on stronger greenback and dismal headlines from the US job market. US jobless claims climbed to three-month high last week, signaling that recovery of the US labour market is fragile. However, positive manufacturing numbers from the US were supportive for the commodity group. Crude oil was steady amid worrying signs from
European stocks retreated on Friday, as traders were cautious amid the second day of EU summit, and awaited the U.S. existing house sales due later. The Stoxx Europe 600 slid 0.2% to 275.57 on banks and oil decline. The DAX 30 dropped 0.3% to 7,417.37, the CAC 40 slipped 0.2% to 3,529.20, while the FTSE 100 was little changed at
Industrial metals were mixed on Thursday, with zinc and copper remaining unchanged and nickel and aluminum climbing. Encouraging manufacturing data from the US pushed base metals higher. Philadelphia-region's manufacturing activity indicated an expansion for the first time in six months in October.Aluminum rose on larger-than-expected increase in manufacturing activity in Philadelphia. However, disappointing comments from POBC adviser that China will
Precious metals tumbled on Thursday on broadly stronger US Dollar ahead of the EU summit. Mixed US data and fading hopes that the POBC will provide essential stimulus for China's economy weighted down on the commodity group. Gold halted a three-day rally amid increased cautiousness ahead of the EU summit results. Encouraging manufacturing data from the US also sent the
Foreign Direct Investment in China declined again in September after a weakening in world's second biggest economy discouraged firms' spending intentions. FDI slid 6.8% on year to $8.43 billion, slightly above $8.33 billion inflow in August, the Ministry of Commerce reported on Friday. China's GDP added 7.4% on year in Q3 after a 7.6% advance in Q2.
Japan's leading index rose less than preliminary estimated in August, the Cabinet Office revealed final data on Friday. The index increased to 93.2, up from 93 in July, but below initial estimate of 93.6. The coincident index was downwardly revised to 93.5 from 93.6, compared to 93.8 in the preceding month. The lagging index soared to 87.3 in August after
The Yen declined versus most major counterparts on Friday amid speculation that the Bank of Japan will create further stimulus measures, cutting demand for the nation's assets. The Yen was at 79.31 per U.S. Dollar from 79.28 yesterday, when it reached 79.47, the weakest level since Aug. 21. It fell 0.1% to 103.67 per Euro, after declining 0.6% to 104.14
Asia stocks held to tight ranges in on Friday, but seen rising strongly this week, lead by Hong Kong and Tokyo stocks' advance. The Nikkei Stock Average gained 0.1%, the S&P/ASX 200 Index rose 0.2%, while the Kospi slipped 0.9%. The Shanghai Composite Index slid 0.1%, while the Hang Seng Index inched 0.3% up.
Oil slid in Asian session on Friday, prolonging yesterday's decline, amid the U.S. Dollar advance. November delivery crude lost 0.1% and traded at $92.02 per barrel. The ICE Dollar Index increased to 79.38 on Friday, compared to 79.356 in the previous session. Meanwhile, November delivery heating-oil and gasoline each added 1 cent to $3.17 per gallon and $2.75 per gallon,
German shares remained higher on Thursday as positive reports from China's economy boosted global demand for riskier assets. Sending German equities higher, Spanish borrowing costs slid during ten-year sovereign bond auction on Thursday. Spain's Treasury sold EUR1.51 billion of ten-year government bonds generating average yield of 5.458% compared to 5.666% at the similar debt auction in September. The DAX Index
UK equities halted an upward trend on Thursday despite encouraging figures from China. China's GDP expanded in line with market expectations while Chinese industrial production and retail sales beat forecast last month. Meanwhile, investors awaited the results of a two-day EU summit that stared today. The FTSE 100 Index lost 0.19% to trade at 5,899.85. Five out of ten sectors
Hong Kong shares advanced for the sixth consecutive session on Thursday. China's GDP grew by 7.4% in Q3, signaling that China's economic slowdown is stabilizing. The country's industrial production and retail sales also beat estimates last month, boosting market sentiment. Moreover, positive data from the US real estate market lifted Hong Kong shares. The Hang Seng Index gained 0.48% to
Japanese shares skyrocketed on Thursday after China's GDP numbers convinced investors that China's economy is growing at an expected pace. Upbeat US housing data also prompted traders to turn to riskier assets. Moreover, the Yen continued to depreciate, thus lifting exporters. The Nikkei 225 Index soared 2.07% to end the session at 8,988.75. Nine out of ten sectors within the
US equities rallied during risk-on Wednesday's trade. Upbeat data from the national housing market boosted market sentiment. US housing starts and building permits surpassed forecast in September, signalling that US economy is on the way to recovery. Adding to the positive mood of the US shares, corporate earnings reports came better-than-expected. The S&P 500 Index advanced 0.41% to close at
Statistics Canada reported on Friday that wholesale sales grew more than expected in August, ending a 3-month long streak of losses. Wholesale sales increased by 0.5%, beating expectations of a slight 0.2% increase. The reading for a preceding month was revised down to minus 0.7% from an initial estimate of a 0.6% decrease.
US blue chips inched up on Wednesday on positive reports from the US housing market. Moreover, better than expected Q3 results of Dow companies also sent the US stock index higher. However, increased cautiousness ahead of China's GDP data and EU summit due on Thursday capped the upswing of the US blue chips. The Dow Jones Industrial Average Index added
On Thursday, gold edged lower, as traders were cautious before an upcoming EU summit, and Spanish borrowing costs fell. On the NYMEX, December delivery futures for gold were traded at $1,747.85 per troy ounce, which was a 0.3% fall for the European morning trade. Earlier in the day, prices declined by 0.4%, hitting a session low of $1,746.85.
On Thursday, futures for crude oil held still, as the world's second biggest economy witnessed the lowest level of GDP since 2009, while traders were awaiting an upcoming European leaders summit. On the NYMEX, December delivery futures for light sweet crude were traded at $92.59 per barrel, holding still for the European morning trade.
On Thursday, copper was traded higher, reaching a 1-week high, as market sentiment was buoyed by Chinese data, which developed in line with expectations. On the NYMEX, December delivery futures were traded at $3.573 per pound, which was a 0.15% gain for the European morning trading hours. Earlier, it hit a session high of $3.764, which was the strongest since October 11.
The Federal Statistical Office reported on Thursday that trade balance of Switzerland added less than expected in September. The net trade was equal to CHF2.02 billion, while the economists' forecast was that it would be equal to CHF2.42 billion. However, it was still a growth, compared to a reading of 1.61 billion in the preceding month.
The Department of Labor reported on Thursday that the number of jobless claims last week was higher than expected on seasonal shift. Claims for jobless benefits added 46,000 and reached the level of 388,000 during the week ended October 13. The economist forecast, however, was that the reading would be equal to 365,000. The number of jobless claims for the preceding week was revised up to
On Thursday, Spain witnessed a decrease in borrowing costs, as it was selling its government debt, amid speculation that an upcoming European leaders summit will decrease uncertainty over Spanish bailout plan. Spain's treasury managed to sell 10-year bonds worth EUR1.51 billion, having the average yield of 5.458%, which was a decrease compared to the yield of 5.666% at a similar auction in September. However, demand for