Service sector activity in Russia accelerated at a slower rate in September than the month before despite a sharp advance in demand in restaurants and hotels sector, a report published by the Markit Economics revealed on Thursday. According to the report the service sector purchasing managers' index recorded 51.5 points in September, down from 51.8 in August.
Retail sales in the 17-nation bloc advanced by more than initially forecast in August mainly due to a rebound in non-food product turnover, the latest data released by the statistical office Eurostat showed on Thursday. Eurozone's retail sales advanced 0.7% on a monthly basis in August compared to a 0.2% growth originally forecast, moreover, the rate beat July's 0.5% gain.
Initial claim for unemployment benefits in the U.S. increased modestly in the week ended on September 28th, when the total number of people without a job recorded 308,000, a data published by the Labor Department unveiled on Thursday. According to the data, first-time claims rose by 1,00 from the previous figure of 307,000, while it was expected to inch up
Private sector in France accelerated at a faster pace than economists initially expected in the month of September after it declined 18 month in a row, a report released by the Markit Economics revealed on Thursday. Markit composite production index advanced from 48.8 recorded in August to the highest level in 20 months at 50.5 in September.
Service sector activity in the world's largest economy continued to expand in the month of September, although the rate of growth was lower than economists originally projected, the Institute for Supply Management reported on Thursday. The report showed that the ISM service sector index recorded 54.4 in September, down from 58.6 in August.
Shares of Tesla Motors dropped after the crash of its electric-car. Tesla fell 6.2% to $180.95, following the decrease of 9.1% amid a photo of Model S crash published on the internet. It was the most considerable one-day fall since July 16, while with its in-house designed technology, the company has a huge potential to become the most effective seller of electric vehicles worldwide.
Gold traded in London dropped reversing previous increase amid signs that demand for the metal in the world's second largest consumer, China, is slowing, at the same time, palladium extended the longest drop in a month. Bullion for October settlement slipped 0.6% to $1,308.97 an ounce as of 10:41 London time, while palladium fell 0.2% to $716.92 an ounce.
European shares dropped on Thursday sliding for the second straight session after a report showed that the U.S. service sector declined more than economists projected and as the U.S. government stayed closed for a third day. The benchmark Stoxx Europe 600 fell 0.2% to 310.10 as of 3:16 p.m. London time after it recorded the biggest drop since August 30
Copper decreased on Thursday falling for the third time in four days after the U.S. President Barack Obama and the Congress did not come to an agreement about a new budget and prolonged the government shutdown to its third day. December copper futures slipped 0.9% to $3.2855 a pound as of 10:18 a.m. on the New York's Comex.
The U.S. Treasuries advanced on Thursday with the benchmark 10-year yields were traded at the highest level in almost seven weeks as Barack Obama failed to come to an agreement with lawmakers on budget impasse and as service sector in the country slipped. The benchmark 10-year bonds yielded at 2.61% as of 10:22 a.m. New York time.
Crude decreased on Thursday trading session falling for the third day so far this week amid concerns that the first partial U.S. government shutdown in 17 years will slow down the economic recovery of the country. Brent crude for delivery in November declined 12 cents to $109.07 a barrel on the ICE Futures Europe Exchange, while WTI dropped 81 cents
U.K. government securities dropped the third day after the rise of purchasing managers index, bolstering the view of power in U.K. economy and trimming demand for haven assets. The 2.25 percent bond with maturity till September 2023 declined 0.21 to 95.78, but the 10-year gilt yield rose three points and now it is on the level of 2.74%.
U.K. shares rose for the first day out of last five as investors speculated on progress in the U.S. budget talks and that could lead to the end of the U.S. government shutdown. The FTSE 100 Index climbed 0.5% to 6,467.51 as of 1:57 p.m. London time; however, the gauge lost 2% in the last four days. The FTSE All-Share
European shares were little changed, after yesterday's retreat that was the biggest monthly, as the U.S. government shutdown entered its third day. The Stoxx Europe 600 Index increased less than 0.1% to 310.86 as of 2:25 p.m. London time. The gauge yesterday had its biggest decline since August 30; however, it has advanced 11% yearly.
The Canadian Dollar was at the narrowest range in six months as the U.S. officials have not made a compromise and the shutdown continued for a third day. Canada's Dollar advanced 0.1% to C$1.0325 per U.S. Dollar as of 9:21 a.m. Toronto time, after it reached C$1.0356 on Wednesday, the lowest level since September 16. The nation's currency swung at
The Australian currency depreciated slightly and the Kiwi dropped as demand for riskier assets waned on U.S. government shutdown worries. The Aussie traded at 93.94 U.S. cents at 4:41 p.m. Sydney time after weakening 0.1% to 93.85 on Wednesday. The New Zealand Dollar slid 0.1% to 83.21 U.S. cents after adding 0.1% earlier.
The Sterling advanced beating the economists' estimates, suggesting that its appreciation might be unsustainable looking to the nation's economy. The Pound has gained 7% since the fourth month of the year to $1.6229, reversing its declines for this year on speculation that Bank of England may start to taper its monetary policy earlier tat expected.
Services industry in Spain declined in September of this year, while the benchmark PMI Index, which shows the activity in a particular sector, fell below 50 points, reaching 49 points in September versus 50.4 points in August. Reading below 50 points indicates an activity contraction. Moreover, the yesterday data showed that Spanish services industry lost 52,000 jobs in September.
Housing prices in the United Kingdom advance for the eighth consecutive month, while the increase slowed to the lowest in half a year, adding only 0.3% in September of 2013. The average price reached 170,733 pounds. Economists, in turn, predicted the prices to surge 0.6%. On the other hand, demand for houses soared, as the government supports citizens in home
The Bank of Japan officials said on Thursday that they will keep the current stimulus amount at least until April of the next year, as they want to see the sales tax rise effect on economy and markets. Some analysts forecast that the Central Bank will increase stimulus to support Japanese economy after the tax rise, while the government is
Rating agency Moody's lowered Brazil's credit rating outlook from positive to stable, while the country's economic growth is going to slow in the nearest future. Meanwhile, the country's current sovereign rating was kept at Baa2 level. As economists, as the Bank of Brazil expect the Brazilian economy to grow 2.5% this year, however, earlier outlook forecasted a 2.7% GDP increase.
President Barack Obama held a meeting with Congressional leaders from both parties, but it had no substantial results. Obama still rejects any negotiations with Republicans over Obamacare program delay for one year. As a result, the 2014 federal budget is still not accepted, while more than 800,000 public employees took an unpaid vacation on Tuesday with no museums and national
Asian shares rose on Thursday, heading for the largest increase in a two-week period after a upbeat report on Chinese service sector business activity that expanded to the highest level in six months. Persistent strengthening of the emerging-market currencies also bolstered Asian equities . The MSCI Asia Pacific Index jumped 0.5% as of 1:40 p.m. Tokyo time, while Hong Kong's
West Texas Intermediate crude declined on Thursday after recording the largest gain in a two-week period as inventories in the U.S., the world's biggest consumer, rose twice as much as it projected. WTI for delivery next month slipped 52 cents to $103.58 a barrel on the NYMEX and it was traded at $103.76 as of 12:47 p.m. Singapore time.