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.
Service sector business activity in the world's second largest economy accelerated at the fastest rate in a six-month period in the month of September amid stronger demand suggesting an improvement in the country's economy. China's official purchasing managers' index for the service sector advanced to a level of 55.4 in September, the strongest level since March.
The U.S. Dollar strengthened on Thursday solidifying its position against the Japanese Yen, at the same time, it fell versus the Euro and majority of other currencies amid positive development in Italy and the U.S. government shutdown. Italian PM Enrico Letta won the crucial vote of confidence called after Silvio Berlusconi ordered his allies from People of Freedom Party to
U.S. stocks decreased on Wednesday falling for the second straight day amid lingering concerns that the first partial shutdown of the U.S. government in 17 years may be prolonged and as a report showed smaller-than-expected number of jobs added by employers last month. The Nasdaq Composite Index declined 2.96 points to 3,815.02, while the Dow Jones industrial average and S&P
Service industry in Australia continued to decline in September; however, the pace of slump eased, with the benchmark AIG Index of performances in services sector advancing to 47.1 points against 39.0 in August. Meanwhile, the only reading above 50 points indicates the rise in sector. The report pointed out that the only sectors to increase in September were health and
Italian government bonds gained for a second consecutive day after the confidence vote in the parliament was won by Prime Minister Letta. Italy's 10-year yield dropped 0.05 percentage point, or five basis points, to 4.37% as of 1:52 p.m. in London. The March 2024 4.5% bond added 4.20 Euros or 0.42 per 1,000-Euro face value, to 101.5.
The Japanese currency advanced to a five-week peak versus the greenback as the U.S. government's partial shut down is not showing any signs of ending. The Yen added at least 0.4% against all of its most-traded counterparts on negative U.S. employment data. The Japanese currency gained 0.7% to 97.36 per U.S. Dollar as of 1:53 p.m. in London, while gaining
U.S. stock futures declined after S&P's 500 Index advanced two almost two-week high, as a report showed that companies added less then estimated amount of jobs and the government shutdown went on. December S&P 500 futures dropped 0.6% to 1,679 as of 8:19 a.m. New York time, while Dow Jones Industrial Average contracts slid 0.4%, or 59 points, to 15,061