Precious metals tumbled on Wednesday on strong US Dollar and negative headlines from emerging economies as China and India. China is expected to continue targeting slower growth pace in the long-term. Indian CPI increased again thus prompting the central bank to keep its interest rates. Moreover, Fed's decision to stick to the current policies in view of recovering US economy
German DAX index bucked the downward trend in European stock markets and edged higher on Thursday. K+S AG rallied 6.4% as firm increased its yearly dividend by 30% after reporting the second-best revenue in company's history. On the downside Deutsche Lufthansa AG tumbled 2.5% after airline reported EUR 13 million loss in 2011 caused by traffic tax and surging fuel
British FTSE 100 index traded lower on Thursday as banking and oil shares put negative pressure on investor sentiment. Moreover Fitch lowered UK outlook from stable to negative indicating a probability above 50% that Britain's AAA rating might be cut. Royal Bank of Scotland Group fell 2% and HSBC Holdings PLC slipped 0.4%. Essar Energy gave up 2.3% and BP
Boeing has rejected the claim of India that the company has agreed to compensate aircraft delays for Air India. The Indian officials earlier reported that Boeing would pay 500 million US Dollars as compensation for three-year delay in delivery of planes. However, Boeing announced that it has not agreed to this deal.
Asian share markets mostly declined on Thursday as region's investors showed concerns Beijing may not loosen its policy towards housing market. Shanghai Composite index fell 0.7%, Australia's S&P/ASX lost 0.2% and South Korea's Kospi slipped 0.1%. Hang Seng index and Nikkei 225 index managed to close higher, adding 0.2% and 0.6% respectively.
Japan's Nikkei Stock Average extended gains on Thursday as Yen fell to 11-month record low against US Dollar, lifting higher exporter shares. Nikkei 225 index gained 0.64% or 63.96 points and settled at 10,114.48. US market oriented Honda Motor gained 3.5% on optimism about country's economic outlook. Mazda Motor rallied 6.1% after the car maker received 8,000 orders for its
European vehicle sales plunged in February driven by Peugeot Citroen, Fiat and Renault as region's consumers suspended large scale purchases amid economic uncertainty. February registrations dropped 9.2% on annual basis to 923,381 million cars, the fifth straight monthly drop. Deliveries in France tumbled 20% whereas sales in Italy plummeted 19%. BMW and Toyota forecast a 5% decline in Europe region
Hong Kong's Hang Seng index traded modestly higher on Thursday, advancing 0.21% or 45.64 points to 21,353.53. Gains were limited as investors anticipated news Chinese PM rejected policy easing aimed at relaxing country's property markets. Financial and property shares declined, led by China Overseas Land & Investment and China Resources Land which dropped 2.7% and 1.6% respectively. On the upside
Dow Jones Industrial Average index climbed slightly higher on Wednesday, posting gains for a sixth straight session. Blue chip index advanced 0.13% or 16.42 points and closed at 13,194.10 with financial sector gaining most. American Express jumped 3.5% after the company passed stress test and announced an increase in dividend and a stock buy back worth USD 5 billion. Heavyweight
After Tuesday's rally, S&P 500 index finished slightly lower on Wednesday as financial shares fluctuated between gains and losses on Fed's stress test results. US index slipped 0.12% or 1.67 points and closed at 1,394.28. Cliffs Natural resources gained 7% after raising its dividend. Zions Bancorporation rallied 10.5% on successful test results while insurer MetLife, who failed the test, plunged
New Zealand and Australian currencies traded close to 7-week record low ahead of US unemployment claims data which are predicted to show further improvement. Australian Dollar weakened to USD 1.0459, near the lowest close since January 20. New Zealand Dollar gained 0.2% versus greenback and was trading at USD 0.8105. Currenly AUD/USD is trading at USD 1.0476 and NZD/AUD is trading
Analysts predict that Apple share price may climb even 19% or above USD 700 a share on the issue of new iPAD. Morgan Stanley's analyst Katy Huberty already has increased company's stock price tagets above USD 700. The mean price target among analysts questioned by Bloomberg equals USD 605. Apple rallied 3.8% to USD 589.58 on Wednesday trade and in
China's FDI declined for the fourth month in line in February on a yearly basis. China's capital inflow was 7.7 billion US Dollars, being by 0.9% lower than in February 2011.The major factor for the fall is weak investment from the indebted Euro Zone. The data may prompt the People's Bank of China to ease its monetary policy further to
India's central bank decided to keep its key interest rates steady for a third straight meeting after data showed inflation climbed. The Reserve Bank of India held the repurchase rate unchanged at 8.5% matching analyst expectations. India's rupee weakened 0.6% against US Dollar to INR 50.1938.
European markets closed in green area on Wednesday supported by financials as Italian 3-year borrowing costs declined and investors anticipated Fed stress test results. Stoxx Europe 600 gained 0.3%, German DAX index climbed 1.2% and French CAC 40 added 0.4%. UK FTSE 100 index bucked the upward movement in markets and faded 0.2%.
UK jobless level increased by 28,000, approaching 2.67 million during three months before January, according to the Office for National Statistics. The unemployment rate toped 8.4% during the period. However, the increase was the slowest in a year, indicating stabilization of the UK labour market.
The CPI of India surged more than initially estimated, growing on the high energy prices. The wholesale price index, major gauge of the CPI in India, soared to 6.95% in February on a yearly basis. Fuel prices faced a jump worldwide on lingering supply concerns amid geopolitical tensions in the Middle-East. Analysts expect that in case the fuel prices grow
Crude oil advanced during Asian session on Thursday after being impacted by less than expected US oil inventory fall last week. Moreover, speculation that Saudi Arabia will manage to replace Iranian oil supplies also dampened the market sentiment. Light, sweet crude oil futures for April delivery traded at 105.56 US Dollars per barrel on the New York Mercantile Exchange, increasing
US stock markets showed mixed performance on Wednesday with blue chip shares surging while those on S&P 500 slightly retreated. Dow Jones Industrial Average index climbed 0.13% or 16.42 points and closed at 13,194.10 and Nasdaq Composite index added 0.03% or 0.85 points to 3,040.73. In contrast S&P 500 index slipped 0.12% or 1.67 points and closed at 1,394.28.
The CPI of the common currency union was steady last month, being unchanged from initial projections, reported Eurostat. The CPI remained 2.7% in February, meeting expectations. However, the figure is still above a 2% target of the ECB. Core CPI that excludes energy, food, tobacco and alcohol also remained unchanged, attaining 1.5% on a seasonally adjusted basis in February while
The Japanese Yen attained the 11-month low against its US counterpart as the greenback drew strength from signs of recovery of the US economy. Currently, the pair USD/JPY is traded at 83.85. The value of the Japanese Yen is even lower than in October when USD/JPY was traded at 75.31 that forced the central bank t to intervene in the
Norwegian central bank decided to lower its key interest rate for a second straight meeting as krone's appreciation was perceived as more significant risk than the threats of housing bubble. Overnight deposit rate was cut by 0.25 percentage point to 1.5% following a 0.5 percentage point chop in December. Krone plunged 1.4% versus Euro to NOK 7.5592 and lost 1.6% against
Fitch Ratings warned UK may lose its AAA rating in two years as the country has limited capability to cope with economic and financial shocks. Fitch lowered UK outlook from stable to negative indicating a probability above 50% that Britain's top sovereign rating might be cut. Fitch emphasized slow economic recovery, notable debt levels and risks from Euro Area debt crisis as
Gold futures increased during the Asian trade in Thursday as traders' sentiment improved after being dampened by the Fed meeting that did not indicate any signs of further monetary easing. COMEX gold futures for delivery in April traded at 1,644.45 US Dollars per troy ounce on the New York Mercantile Exchange, easing up by 0.09%.