Crude oil declines in Asian trade

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Source: Forexpros
Crude oil prices extended previous losses during Asian trade on Wednesday as political deadlock in Greece continued to dampen investors' sentiment. Moreover, speculation that US stockpiles are likely to have grown last week weighted on the commodity price. Light, sweet crude oil futures for June delivery traded at 93.44 US Dollars per barrel on the New York Mercantile Exchange, falling by 0.61% off the session's high of 93.44 US Dollars per barrel.
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Wed, 16 May 2012 08:53:27 GMT

Japan's bank shares soared on profit forecast

Stocks of the biggest banks in Japan rose after this year profit forecast was upgraded. Mizuho Financial Group shares gained 0.9% while Sumitomo Mitsui Financial Group advanced by 1%. Meanwhile, shares of Mitsubishi UFJ inched up by 0.6%. The banks stressed an increase in borrowing and larger market share abroad as major factors contributing to expectation for higher profits this

Wed, 16 May 2012 08:20:26 GMT

US retail sales growth decelerates in April

US retail sales growth slowed in April while consumer prices stayed unchanged. The retail sales expanded by 0.1% in April on a monthly basis, reported the Commerce Department. At the same time, consumer spending rose by modest 0.2% in April. The weakest sectors comprised gardening equipment and building materials that posted a 1.8% decline.

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