The Stoxx Europe 600 index climbed by 0.4% to 276.75 points in early London trading session on Monday. European stocks advanced, following the longest series of gains in last six years, as economic data showed China's manufacturing expansion: China official Purchasing Managers' Index was 50.6 in November, the highest value in 7 months. Also, markets trade on news from Greece,
Japanese capital spending, except software, increased by 2.4% on yearly basis, after a 6.6% gain in the previous quarter, as the Ministry of Finance announced on Monday. The actual number exceeded economists prediction, which was 1% gain, indicating that the third largest world economy may experience just a short-lived contraction. Also, October production unexpectedly increased supporting the expectations that Japanese
Farm commodities were mostly lower on Friday on weak demand for US supplies and upgrades of Chinese crops. Rising exports from Ukraine and Russia dragged gains lower, while expectations for higher production in South America weighted on softs. However, broadly weaker US Dollar restricted the downswing of rural commodities.Wheat tanked as demand for US exports continued to deteriorate. South Korea
Energy futures apart from natural gas moved higher on Friday amid on-going geopolitical tensions in the Middle East. Investors continued to eye protests in Egypt against an extension of President Mohammed Morsi powers. Crude oil climbed on better demand prospects in China as the country's PMI probably have climbed further in November. Moreover, escalated tensions in the Middle East coupled
Industrial metals extended previous gains on Friday despite weak data releases from the US and Eurozone. Fading optimism over Greece also weighted. Moody's believes that the debt burden of Greece is unsustainable even after the country's bailout terms were eased. Base metals found support on expectations that Chinese PMI expanded more than forecast last month.Aluminum gained 1.45% amid rising energy
Precious metals dipped on Friday amid broadly stronger US Dollar and uncertainty over the US fiscal cliff. However, the downswing was restricted due to weak US data releases. US consumer spending slumped unexpectedly in October, thus raising hopes that the Fed will ease its monetary policy further. Meanwhile, market players continued to monitor key US data to gauge the strength
European stock futures on the Euro Stoxx 50 Index, the benchmark for the all Euro area, advanced by 0.1% to 2,582 points in early London trading session on Monday. European futures were higher as two measures of China manufacturing industry increased tempting that sector managed to stay on expansionary territory. Also, Greece prepared to open bids for repurchasing its bonds.
Swedish seasonally adjusted purchasing managers' index for the manufacturing sector was 43.2 in November, indicating the contraction of manufacturing industry, according to the Swedbank announcement on Monday. The rate of fall stays unchanged from the previous month and sets the fourth consecutive month of decrease. The indicator of firms' planing output in the next six months also indicates pessimism.
The NEVI Purchasing Managers' index was 48.2 in November comparing with 48.9 in the previous month, according to Markit Economics announcement on Monday. The value of PMI was the lowest since June and that was a six consecutive month of manufacturing sector contraction. Orders were hurt by a weak global and domestic demand and clients' efforts to reduce stock.
Spanish seasonally adjusted purchasing managers' index was 45.3 in November, comparing with 43.5 in the previous month, according to Markit Economics announcement on Monday. The Spanish manufacturing sector contracted for the 19th month and the business conditions have deteriorated in each of the last 19 months. The amount of new orders also sharply declined, however slower than in October, due
Turkey annual inflation eased to 6.37% in November, comparing with 7.8% in October, the Turkish Statistical Institute announced on Monday. Consumer price index advanced by 0.38% in November, comparing with the previous month. More detailed report shows that housing made the biggest increase of 11.69% on yearly basis, followed by restaurants, cafes and hotels 9.44% increase.
South Korea's manufacturing shrank at a slower pace in November, according to data provided by Markit Economics and HSBC Bank on Monday. Seasonally adjusted manufacturing PMI rose to the highest level in five months from 47.4 in October to 48.2 in November, but stayed below the 50-mark for the sixth consecutive month.
Japan's central bank is ready for an aggressive monetary policy easing, if there are no substantial risks to the economic growth sustainability including financial imbalances accumulation, the Bank of Japan Governor Masaaki Shirakawa said today. In order to implement the policy, the BOJ will conduct as assessment taking account of information obtained from markets.
Asian stocks rose, with the regional benchmark index poising for the highest close in 7 months, as China's manufacturing expanded last month, indicating a faster growth in the world's second largest economy. The MSCI Asia Pacific Index gained 0.2% to 124.88, set for the highest close since May 2. The Nikkei 225 Stock Average climbed 0.7% and South Korea's Kospi
German equities jumped on Friday despite weak data from the Eurozone and domestic economy. Eurozone's jobless rate approached 11.7% last month, while German retail sales declined by 2.8% on a seasonally adjusted basis, compared to a 0.5% increase in the preceding month. The market sentiment was boosted by hopes that US officials will agree on the budget until Christmas holidays.
UK stocks are trading slightly higher on Friday amid mixed data from the Eurozone and the national economy. The Eurozone's unemployment rose from 11.6% to 11.7% last month, while German retail sales dropped more-than-expected in October. However, weak numbers from the Eurozone's were partly offset by an unexpected jump in the UK consumer confidence last month. The UK Gfk Consumer
Hong Kong shares ended the week on the positive note on positive economic data releases from the US and Japan. Hong Kong equities also received a boost after Chinese Vice Premier Li Keqiang said that urbanization will be the key driver of China's development in the next decade. Moreover, analysts expected Chinese data to show that the country's factory activity
Japanese equities extended previous gains on Friday after the government approved a stimulus package as looming election put more pressure on the ruling party to act faster to increase its popularity in the country. However, experts claim the effectiveness of the move is doubtful as the size of the package is much smaller than any of four previous spending plans.
Gold spot was 0.3% higher to $1,730.90 an ounce during Singapore trading hours on Friday. This increase sets gold price for 0.5% monthly gain in November, as holdings in exchange traded funds reached the highest point ever, 2,619.44 metric tons. Palladium is ahead of 14% rally in this month, the best run since December of 2010. Precious metals advance on
Crude oil futures for January settlement were slightly changed or 4 cents higher to $88.03 a barrel during Singapore trading hours on Friday. The price consolidates after $1.58 gain yesterday, what makes 2.1% increase this month and sets the price for the first monthly gain since August. Oil was traded positively this month amid positive signs of economy expansion in
Euro Stoxx 50 Index futures, which is a benchmark for the Euro area stocks, were slightly changed or less than 0.1% higher to 2,580 points in early London trading session on Friday. Market consolidates after the Stoxx Europe 600 index reached a 17-month high recently and investors awaited data for American consumer spending.
The Australian Dollar depreciated versus most of the major counterparts on speculation the RBA will lower the key rates next week to protect the economy from a slowdown in mining. The Aussie weakened to $1.0430 from $1.0435 yesterday. The currency is set for a 0.3% drop this week, whereas it climbed 0.6% this month. Australia's Dollar was at NZ$1.2669 from
The Shanghai Composite Index increased by 0.9% to 1,980.12 points during Asia trading hours on Friday. That was the first gain in last five days, as the whole index sets for a monthly 4.3% loss, the biggest since June, as the valuations reached the lowest on record. However, the benchmark tracking property stocks of China's stock market jumped by 3%
Farm commodities were mixed on Thursday, with softs climbing and grains retreating. Broadly weaker US Dollar as well as worries over upcoming storms in Brazil and Argentina were supportive for rural commodities. However, a slowdown in the US exports capped gains of the commodity group.Wheat retreated, snapping a three-day run after the USDA reported a 56% drop in US exports