Japanese stocks advanced after the U.S. housing starts rose to the highest level since 2008, supporting Asian exporters earnings outlook. However, gains may be limited, due to the Yen's strengthening versus most of major counterparts.
The ZEW Indicator of Economic Sentiment has somewhat increased by 0.9 points to minus 42.5 in July, indicating a slight improvement of economic expectations for Switzerland, according to data released by the Center for Economic Research.
The jobless rate in the U.K. fell in May as the Olympics have created jobs, signalling a slight improvement in the recession-hit economy. According to the Office for National Statistics, the unemployment rate fell to 8.1%, while the number of people seeking unemployment benefits somewhat rose in June due to a change in benefit rules.
Housing starts jumped 6.9% to annual amount of 760 000 in June, the highest level since October 2008, reported the Commerce Department.
Spain will sell 3 billion euros of debt on 19 July, as Mariano Rajoy's, Spanish Prime Minister, government is struggling to keep access to capital markets to ensure financing of the Eurozone's third-largest budget deficit. Spain will auction short-dated bonds maturing in 2014, 2017 and 2019.
The Bank of Japan decided to scrap 0.1% yield floor for buying government bonds with maturities of one year and less, seeking to support slowing demand in the funding operations.
Most Swiss Stocks advanced as Fed Chairman Ben Bernanke delivered his testimony to Congress, with market players speculating that Bernanke will indicate further asset purchase programme.
U.K. inflation unexpectedly slowed to its lowest level since November 2009, due to a fall of clothing prices.
The U.S. growth is slowing due to diminished business investment in response to the Eurozone debt crisis and potential fiscal tightening in the US. Moreover, the Fed predicts slow progress in curtailing unemployment, reiterating that the central bank is prepared to undertake further decisive measures to stimulate recovery.
The ZEW Indicator of Economic Sentiment fell 2.7 points to minus 19.6 in July, indicating the third decrease in a row. This is due to the Eurozone sovereign debt crisis and slowing global demand that contributed to a gloomy investors' outlook.
The Nikkei 225 Stock Average (NKY) climbed as the IMF raised Japan's growth forecast to 2.4%. However, gains were limited due to unexpected decline of US retail sales and the Yen strengthening against the US Dollar to one-month high. The Nikkei 225 gained 0.6% to 8,779.32.
The Swiss stock market ended Monday with a moderate gain, fluctuating in a 30 point trading range during the day.
The UK stocks declined on Monday, as the IMF cut its outlook for the global economic growth to 3.5% for this year and for next year to 3.9%.
Retail sales surprisingly declined 0.5% for a third consecutive month in June, due to limited employment gains. The Commerce Department figures exceeded the most pessimistic estimations and prompted economists to cut their economic growth forecasts for the Q2.
According to Eurostat, consumer inflation in Eurozone remained unchanged 2.4% in June from the previous month, matching the preliminary estimates. This is due to a sharp decline in energy prices by 1.7%.
Japanese stocks advanced after a decline during last six sessions on China's slowing growth, as worries that the world's second-biggest economy might need additional stimulus. The Nikkei 225 Stock Average gained 0.1% to 8,729.09.
Swiss Producer and Import Price Index declined 0.3% in June from May, due to lower prices for oil and petroleum products, said the Swiss Federal Statistical Office on Friday.
Following the Chinese GDP data that reflected a downturn in economic growth, resource stocks lifted the UK stock market on Friday.
Wholesale prices in the US surprisingly increased in June, indicating growth of food costs.
Despite the unexpected Moody's rating cut by two notches to 'Baa2' a day earlier, Italy successfully sold the planned amount of bonds at the auction on Friday.
U.K. stocks declined, as minutes from the Fed's latest policy meeting did not point at further stimulus to boost economic growth.
Swiss Stocks fell significantly, as the minutes released by the Fed discouraged investors.
According to Labor Department data, the number of applications for unemployment benefits fell by 26,000 to 350,000 last week, reaching the lowest level since March 2008.
Japanese stocks advanced after a decline during last six sessions on China's slowing growth, as worries that the world's second-biggest economy might need stimulus mounted. The Nikkei 225 Stock Average gained 0.1% to 8,729.09.