Japanese stocks rebounded on Thursday after Olympus Corp. jumped 19% and Japan Petroleum Exploration Co. gained 3.6%. The Nikkei 225 rose 0.19%, or 16.47 points, to 8,479.63, while the broader Topix climbed 0.50%, or 3.60 points, to 727.71.
Recently appointed Italian Prime Minister Mario Monti formed a new government on Wednesday to avert collapse of the nation's economy and win back investors' confidence. Members of the government are mainly drawn from private sector and academia with Monti to serve as prime minister and economy minister.
U.S. consumer prices decreased slightly for the first time in four months in October, giving the Federal Reserve opportunity to ease monetary policy in case the economy falters. The prices dropped 0.1 percent, compared to September, said the Labor Department on Wednesday.
The number of people claiming unemployment benefits rose 5.3 thousand to 1.6 million in October, while the jobless rate increased to 8.3 percent, the highest reading in 15 years, said the Office for National Statistics on Wednesday.
Swiss stocks gained on Wednesday, after Italian Prime Minister Mario Monti formed a new government. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.37%, or 20.89 points, to 5,685.80. The broader Swiss Performance Index advanced 0.26%, or 13.49 points, to 5,160.49.
The Bank of Japan downgraded its economic assessment but left monetary policy unchanged on Wednesday, saying the Europe's debt crisis represents the biggest risk to the country's export led recovery.
Japanese stocks declined on Tuesday amid higher borrowing costs for Italy. The Nikkei 225 decreased 0.72%, or 61.77 points, to 8,541.93, while the broader Topix lost 0.67%, or 4.94 points, to 730.91.
Swiss stocks closed mixed on Tuesday, as disappointing economic growth in Europe was partly offset by better than expected retail sales in U.S. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.06%, or 3.20 points, to 5,664.91. The broader Swiss Performance Index declined 0.08%, or 4.03 points, to 5,147.00.
U.K. inflation eased more than expected in October amid faltering global economic growth, leaving the door open for more stimulus. Consumer price index rose 5%, said the Office for National Statistics on Tuesday.
U.S. retail sales increased in October, compared to September, easing concerns the largest economy in the world may slide into recession. Total retail sales advanced 0.5 percent, after increasing 1.1 percent in September, said the Census Bureau on Tuesday. Economists expected the reading to advance 0.3 percent.
The Euro Zone economy grew 0.2 percent in the third quarter compared to the previous three months fuelling concerns the bloc may slide into recession in forthcoming months, according to the figures released by the Eurostat agency on Tuesday.
Spanish 10-year national bond yield peaked back breaking 6% first time in 3 months, reaching 6.07%. Premium required by investors to provide financing for Spain exceeds price demanded from Germany by 4.25 percentage points. According to Nick Stamenkovic, RIA Capital in Edinburgh, economist, it seems investors are changing their direction towards Spain.
Japanese economy grew 1.5 percent in the third quarter 2011, compared to the previous 3 months, but outlook remains clouded with strong yen and faltering global economic growth, said the Cabinet Office on Monday.
An index measuring hiring intentions amid U.K. employers worsened to minus 3 in the fourth quarter from minus 1 in the previous three months, said Chartered Institute of Personnel and Development.
President Barack Obama arranged a forum of 21 Asian-Pacific nations in Hawaii this weekend with the long term goal to expand U.S. influence in the region.
German Chancellor Angela Merkel said on Monday that European Union possibly faces its worst crisis since World War Two and hinted that Europe must move step-by-step towards political union, offering no new ideas on how to resolve the crisis.
Chancellor Angela Merkel claimed it is essential to comprise political coalition in Europe to ensure bondholders that euro-region officials are sober about tackling debt turmoil. Merkel emphasized that all 17 euro zone countries should stick to common currency, though serious changes in current policy should be implemented. Chancellor also suggested EU and euro region should grow simultaneously in order to
Italy's Senate passed austerity measures to reduce budged deficit on Friday in an effort to restore investor confidence and clear the way for a new interim government that may be headed by Mario Monti, a former European Union Competition Commissioner.
U.S. consumer confidence advanced to highest level in five months as consumers became more optimistic on the outlook of the coun-try's economy, said the Thomson Reuters/University of Michigan on Friday. An index of sentiment rose to 64.2 points in November from 60.9 points in October.
U.K. producer prices declined to the lowest level in five months in October, the Office for National Statistics announced on Friday. Producer inflation eased on lower row material costs and faltering global demand.
Swiss stocks gained, after Italy approved austerity measures on Friday. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 1.50%, or 83.25 points, to 5,649.03. The broader Swiss Performance Index rose 1.53%, or 77.67 points, to 5,146.15.
Japanese stocks closed mixed on Friday amid uncertainty over the economic situation in Europe and weaker than expected earnings from local corporations. The Nikkei 225 advanced 0.16%, or 13.67 points, to 8,514.47, while the broader Topix erased 0.16%, or 1.17 points, to 729.13.
Today Italian government will vote on austerity measures to regain investors' confidence and prepare for the new government supposed to be headed by Mario Monti, a former EU Competition Commissioner. According to Gianfanco Fini, speaker of the parliament, Berlusconi is expected to resign immediately after the vote. Fini points out that unity government can be formed only if Berlusconi supports
Japanese core machinery orders declined more than expected in September, said the Cabinet Office on Thursday. Month on month orders fell 8.2 per cent from August on strong yen and on faltering global economic growth.