The Shanghai Composite Index declined 3.5% to 3913 points on Thursday, as selloff of Chinese equity's continued despite cash injection and lowered regulations by the Chinese government. Meanwhile, the Nikkei 225 stock average added 1% to 20,523 points, the S&P/ASX 200 Index rose 0.8% to 5,599 points, and the Hang Seng Index gained 0.4% to 26,343 points by 7:45 AM
European stock markets climbed on Wednesday, following Athens officials stating that Greece agrees to accept creditors' bailout conditions. Germany's DAX added 2.1% to 11,177.64 points, while the UK FTSE 100 inched up 1.3% to 6,605.72 by 12:00 PM GMT. Among other indices, the Euro Stoxx 50 rose 2.6% to 3,512.27 points and CAC 40 surged 2.5% to 4,909.61 points.
The US stock futures rallied on Wednesday, as report was released saying that Greece's Prime Minister agreed to accept almost all bailout terms from the creditors. DJIA futures grew 0.9% to 17,679, while those for the S&P 500 added 1% to 2,074.5 points by 10:00 AM GMT. Wall Street traders anticipate the US stock market to brighten after losses of
The common currency retreated on Wednesday as the Mediterranean nation became the first developed economy to evade the IMF loan payment. While the sentiment of the market stayed tense, the trading was limited as investors await for the Greek referendum on Sunday. After a slide of noticeably in Asian trading, Euro retrieved some losses and stood down 0.4%.
Oil prices decreased on Wednesday after OPEC's output rose to 31.6 million barrels a day and Greece defaulted on its 1.54 billion euros' payment to the IMF. New York-traded crude oil declined 1.3% to $58.74 a barrel, while the UK-traded Brent crude oil traded 0.8% lower to $63.64 a barrel by 10:00 AM GMT. In addition, last week US crude
On Wednesday, stock markets across Europe rose, as investors took into account Greece's default on its 1.54 billion euros' payment to the IMF. The Stoxx 600 added 1% to 385 points, the UK's FTSE 100 rose 1.1% to 6,595 points, while the DAX 30 was up 1.6% to 11,117 points. Meanwhile, the France's CAC 40 soared 1.8% to 4,877 points
As business and consumer spending continued to decrease in June, the Greek Manufacturing PMI reached 46.9 points, which, under the level of 50, indicated a steeper decline than in May, concluding the worst quarter in two years. Moreover, the survey data showed even further fall of the PMI during the next months.
In Q1 of 2015, Italy's budget deficit contracted to 5.6% of GDP from 6% in Q1 of 2014, as public expenditure declined 0.7% to 189.7 billion euros, while total revenue rose 0.3% to 167.9 billion euros. For 2015, Italian government predicts a public budget gap of 2.6%, compared with a deficit of 3% in 2014 and 2.9% of GDP in
Chinese equity markets fell substantially late in Wednesday's trading session, after trading flat a day before. The Shanghai Composite Index fell 5.2% to 4,053.7 points, while the Shenzhen Composite Index shed 4.8% to 2,346.13 points, after being up as much as 2.4%. Meanwhile, the Shenzhen ChiNext Price Index declined 3.5% to 2,759.41 points by 9:00 AM GMT, after trading 5.2%
The HSBC China's June manufacturing PMI rose marginally to 49.4 from a May figure of 49.2, with a figure below 50 signalling a decrease in manufacturing. The June PMI reading further added to the declining activity in the manufacturing sector, as output fell for the month. China's manufacturing sector has been shedding large number of workers at a fastest rate
After advancing in value for two days, bullion prices fell by 0.3% to $1,176.35 an ounce by 06:45 AM GMT on Tuesday. Traders claim the drop in precious metal prices are explained by slower international demand, following the strengthening of the Greenback. Measured monthly, gold seems to be heading for a 1% decline.
Oil prices advanced, as negotiations on Iran's nuclear deal was set to miss the Tuesday's deadline. London-traded August Brent crude futures soared 1.5% to $62.93 a barrel and the New York-traded WTI futures for August rose 0.9% to $58.82 a barrel. If a deal were to be struck between Tehran and the West, it would allow Iran to export oil
According to official data released on Tuesday, UK economy was underestimated in 2014 and in the Q1 of 2015. British GDP grew 1.5% year-over-year versus the previous figure of 1.2%, moreover, the GDP rose 0.4% against the estimate of 0.3% in Q1 of 2015. In addition, the output expanded 3% in 2014, compared with the initial reading of 2.8%. Analysts
The New Zealand Dollar fell against its US peer down to 0.677, as downbeat business sentiment along with low building intentions raised expectations for further interest rate cuts. The New Zealand companies turned pessimistic about the economic outlook for the first time since 2011, after Deutsche Bank New Zealand predicted an interest rate cut in October reaching the level of
The German CPI reading dropped 0.1% in June despite the economists' expectations of a 0.1% gain. Measured annually, the Consumer price index rose 0.3% in June, while failing to reach the forecast of a 0.5% gain, following a 0.7% rise in May. The annual indicator remained positive for the fifth consecutive month, after retreating in January to the level seen
Equity markets across Europe declined, as investors were cautious about Greece's future in the Euro zone and European Union's future as a whole. The Stoxx Europe 600 lost 1.3% to 381 points, the DAX 30 slid 1.5% to 10,912 points, and the France's CAC 40 fell 1.5% to 4,796 points. Meanwhile, the Spain's IBEX 35 dropped 1.1% to 10,735 points
On Monday, Moody's Investors Service stated that it upgraded Iceland's sovereign credit rating by one notch to Baa2, as the country improved financial regulation and its debt position. In addition, Moody's said that Iceland's GDP will annually grow by 7% to 8% in the next three years, due to increased domestic and external demand. Iceland's current credit rating of Baa2
US stock futures indicated early on Tuesday that markets would open higher, after a significant selloff that took place Monday amid fears that Greece would exit the Euro zone. The S&P 500 Index futures rose 0.2% to 2,056.25 points, the Dow Jones Industrial Average climbed 0.2% to 17,549 points, and the Nasdaq 100 Index rose 0.1% to 4,383.25 points by
China's shares predominantly advanced on Tuesday, recouping some of the previous days' sharp losses, as Greece approached the debt default. Shanghai Composite Index soared 5.5% to 4,277.79 points by 8:00 AM GMT, after closing the session 3.3% down on Monday. Meanwhile, CSI 300 Index rallied 6.7% to 4,473 points and Shenzhen Composite Index inched up 4.8% to 2,464.23 points.
Japanese total cash wages rose 0.6% year-over-year in May, while in April they increased by 0.7%, thus indicating that employees may be sharing part of the earnings with their workers. According to economists, worker wages rose in the last two months due to negotiations with their employers in the spring of 2015. On average, Japanese firms increased wages by 2.2%
Europe largest economy's retail sales grew 0.5% in May, compared with April, however, economists forecasted that figures would stay unchanged for the month. Revised retail sales in April rose 1.3% from March, lower than a 1.7% increase estimate. Meanwhile, retail sales from January to May of 2015 have risen 2.4% year-over-year, therefore indicating that private consumption could remain a growth engine for
The New York Fed President William C. Dudley announced readiness to raise interest rates on September in spite of the Greek crisis, referring to continued flow of positive data releases recently. Nevertheless, the Fed sees significant risks in the case of the Grexit and therefore would not fan the flames by raising interest rates and stick to risk-off strategy.
Oil futures for August delivery traded lower, on concerns surrounding Greece's default and therefore strengthening Dollar. In New York, August crude futures lost $1.24 or 2.1% to $58.39 a barrel, however, the London-traded Brent crude oil declined $1.35 or 2.15% to $61.9 a barrel by 10:40 AM GMT. The rising Dollar can make dollar-denominated commodities more costly to countries with
The Switzerland's central bank confirmed they interfered in order to weaken the Swiss Franc's appreciation, as the Greek financial crisis worsens. The Greek default would most probably push massive capital flows into this safe-haven currency, therefore, the SNB maintained negative interest rates as well as penalties for keeping the Swissie in cash to prevent the rise of the "significantly overvalued" currency.