The majority of Asian shares increased on Monday trading session adding to their last week's rally amid speculation that sell-off in emerging markets may have come to an end pushing the safe-haven assets lower. The MSCI Asia-Pacific gauge outside Japan added 0.7% extending its gain to 6% in the last eight sessions, while Indonesia's and Philippines' indexes surged 0.8%.
Economic growth in Japan was only 0.3% in the last quarter of 2013, the preliminary data showed on Monday. Moreover, the expansion pace for July-September quarter was revised down from 0.5% to 0.3%. Analysts expected a 0.7% GDP rise in Q4. On the annual basis, Japanese economy jumped 1%, however, analysts predicted a much stronger pace of increase – by
U.S. shares swung, with the regional benchmark Standard & Poor's 500 Index set for a second consecutive weekly gain, as investors speculated on U.S. industrial production data tad declined. The S&P 500 added 0.1% to 1,831.92 as of 10:13 a.m. New York time, while the Dow Jones Industrial Average climbed 0.2% to 16,055.78.
U.K. shares were little changed, with the benchmark FTSE 100 Index set for second consecutive week of gains, as U.S. industrial output fell surprisingly in January. The FTSE 100 slid 0.1% to 6,657.76 as of 3:03 p.m. London time, paring a climb of 0.2%. The FTSE All-Share Index added 0.1%, while Ireland's ISEQ Index jumped 0.4% today.
The British currency advanced for a fourth straight day versus the U.S. Dollar after nation's construction output grew in December. The Sterling added 0.3% to $1.6709 as of 1:51 p.m. in London and the pair has climbed 1.8% this week, the biggest weekly gain since June, 2013. The British Pound climbed 0.2% to 81.95 pence per Euro.
The U.S. Dollar depreciated a third straight day versus the Japanese Yen after U.S. industrial production fell the surprisingly in January. The greenback slid 0.3% to 101.85 Yen as of 9:38 a.m. New York time and has retreated 0.5% this week. The U.S. Dollar weakened 0.1% to $1.3689 per Euro, after slipping to $1.3715, the lowest level since January 27.
Trade surplus of the Eurozone rose considerably in December of this year from a year ago, as exports surged much faster than imports. The positive balance in trade of goods and services reached 13.9 billion euro versus 9.8 billion euro in December 2012. Exports jumped 4% after a 2% fall in November. Imports, in turn, advanced 1% in December after
The Eurozone's economy posted a 0.3% increase in the Q4 of 2013 on a quarterly basis, while analysts predicted a 0.2% expansion. Experts explain the highest-than-expected growth by strong data from Germany and France. Moreover, Italian economy started to expand for the first time since 2011. It is forecasted that region's economy will raise its pace of expansion in the
Italian economy advanced 0.1% in the last quarter of the previous year, posting the first quarterly increase since spring 2011. The Istat data showed a rise in agricultural and industrial sectors of country's economy, while service sector deteriorated. At the same time, today's date is marked with resigning of Enrico Letta as the Prime Minister, after losing his party leadership
China's shares increased on Friday with the Shanghai benchmark index reaching its first weekly advance in a five-month period as the gain was led by drugmakers and consumer companies overshadowing fall of financial stocks. The Shanghai Composite Index surged as much as 0.8% to 2,115.85 and it has jumped 3.5% this week.
Gold advanced on Friday trading session and was set to record its largest weekly gain since last October as demand for safe-have assets rose after U.S. government showed that retail sales in the country dropped last month. Bullion for settlement in February added 0.6% to $1,310.70 an ounce and was last seen at $1,309.18 as of 3:21 p.m. Singapore time.
Japan's shares declined on Friday trading session with the local benchmark stock index Topix erasing its increase recorded this week and capping a 6th week of drops mainly due to a slide of consumer lenders. The Topix Index fell 1.3% to 1,183.82 in Tokyo reversing previous advance of 0.8% and falling by 0.4% this week.
European shares fluctuated on Friday with the region's benchmark index Stoxx Europe 600 and was set to record a weekly advance before reports showed that economic growth in the Eurozone rose by 0.2% in the Q4 and as industrial production in the U.S. added 0.2%. The Stoxx Europe 600 Index gained 0.1% to 331.86 as of 8:08 a.m. London time.
Natural gas traded in New York increased on Friday heading towards its first weekly advance since January 24 after a demand for heating oil was boosted by winter storms in the U.S. and as inventories dropped to a seasonal 10-year low. Gas for settlement in March gained 2.7% following a climb by 8.3% yesterday to $5.223 a million British thermal
Economic advance in the Netherlands inched up in the last quarter of 2013, showing an increase of 0.7% quarter-on-quarter. Moreover, the GDP rise for the July-September quarter was revised up to 0.3%, while economists forecasted the same expansion pace for the Q4. On the annual basis, economy jumped 0.7%, while exports increased only 0.1% and imports growing 0.8% in 2013.
The European benchmark Brent crude declined on Friday after production in the Africa's largest oil producer, Libya, declined from 350,000 to a level of 200,000 barrels per day amid a shut-down of a pipeline caused by protestors. Brent for delivery in April fell as much as 19 cents to $108.33 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil increased on Friday session and was set to record its fifth weekly advance, the longest streak of weekly gains this year, as winter storms in the U.S. boosted demand for energy. WTI for settlement in March traded 27 cents lower at $100.08 per barrel on the NYMEX as of 3:55 p.m. in Singapore.
Inflation in the 18-nation bloc is expected to remain below the European Central Bank's outlook this year and in 2015 mainly due to stronger local currency and lower prices of commodities, a survey published by the bank showed on Friday. According to the report, the Eurozone's inflation is projected to stand at 1.1% compared to initially forecast level of 1.5%
The consumer price index in China remained fully unchanged in January of this year, staying at 2.5% on the annual basis. Economists expected a CPI decrease to 2.4%. Moreover, a considerable jump of 3.7% in food prices on Christmas and New Year celebrations did not influence the overall inflation indicator. Alongside, factory prices in the country were up only 1.6%.
Inflation in India measured as wholesale price index recorded a steep decline at the beginning of 2014 missing preliminary estimated figures, a report revealed by the Ministry of Commerce and Industry showed on Friday. India's 'PI decreased from 6.16 recorded in December to a level of 5.05% in January, while it was forecast to fall to 5.6%.
The benchmark interest rates in the United Kingdom is expected to raise to a level of 2% in a period of three years, according to a survey released by Reuters on Wednesday, as the survey results match expectations of the Bank of England. However, economists in the poll disagreed with the Bank's outlook for an increase in business investments by
Economic advance in Germany, the largest economy of the Eurozone, jumped to 0.4% in October-December quarter of the previous year, growing from 0.3% in Q3. Analysts expected the same GDP rise as in July-September. The data showed a significant surge in capital investment and exports. At the same time, private consumption data was worse than predicted in Q4.
The U.S. currency weakened on Friday session falling towards the lowest level in three weeks versus the majority of its most-traded peers after a government data showed that retail sales in the country fell and jobless claims advanced last week. The so-called Greenback traded at 102.08 yen and $1.3675 against the Euro, while the U.S. Dollar index fell to 80.194.
Economic growth in France picked up in the last quarter of the previous year, as the GDP rose 0.3% on a quarterly basis after a 0.1% increase in July-September. Economists, in turn, waited for a smaller 0.2% advance. During the whole year 2013 economy grew 0.3% as well. The GDP data is very important for the ECB, as it will