The majority of Asian shares increased on Friday trading session after a government report showed unfavourable data from the U.S. pushing the nation's currency towards the lowest level in three weeks versus the Euro. The MSCI broadest Asia-Pacific gauge outside Japan gained as much as 0.7% and was set to record its largest weekly advanced since September.
Business inventories in the world's largest economy increased slightly more than economists initially expected in December, a report released by the Commerce Department showed on Thursday. According to the report, the U.S. business inventories advanced 0.5% in the last month of 2013 after gaining 0.4% in November.
Wall Street shares inched higher on Thursday trading session with the benchmark index Nasdaq Composite increasing for the sixth successive day as investors weighed prospects of disappointing consumer spending data versus weather forecast. The S&P 500 Index gained 0.58% to 1,829.83, the Dow Jones industrial average added 0.40% to 16,027.59 and the Nasdaq surged 0.94% to 4,240.67.
Initial claims for unemployment benefits in the U.S. surprisingly increased in the week ended on February 8, the latest data revealed by the Labor Department showed on Thursday. According to the report, jobless claims in the world's largest economy added by 8,000 from 331,000 to last week's level of 339,000, while the claims were seen to be falling to 330,000.
West Texas Intermediate oil dropped from the strongest level since October when reports showed U.S retail sales fell in January and unemployment climbed last week, bolstering worries of fuel demand drop. WTI for March delivery dropped 19 cents to $100.18 a barrel in New York board of trade. The contract strengthened to $100.37, the strongest since October 18.
The Pound advanced to the highest level in two and a half years versus the Dollar, since the central bank's Chief Economist, Spenser Dale, stated investors' bets in regard to interest rates growth in two years are reasonable. Sterling strengthened in a third day against the U.S Dollar, due to unexpected drop of U.S retail sales, and gained 0.2% to $1.6634 at 3:27 p.m. in London
U.S. retail sales unexpectedly fell in January to the lowest level since June 2012 due to the poor weather conditions that lowered consumers' activity. The 0.4% drop was shown today by Commerce Department in Washington and then revised to a 0.1% fall that was earlier reported as an advance in December. According to U.S. economist Guy Berger's view, this situation is not considered to be positive
Wall Street shares remained flat on Wednesday trading session with the benchmark index Standard & Poor's 500 rising by 3.9% in the last four sessions after company Procter & Gamble revealed its earnings outlook. The Dow Jones industrial average shed 0.19% to 15,963.94, the S&P 500 Index lost 0.03% and the Nasdaq Composite Index added 0.24% to 4,201.29.
European shares declined, snapping their longest streak of gains this year, as some major companies retreated as they reported worse than expected results. The Stoxx Europe 600 Index fell 0.7% to 329.54 as of 11:48 a.m. London time; however, the equity-benchmark gained 4.5% through last six days. Standard & Poor's 500 Index futures slid 0.6%, while the MSCI Asia Pacific
U.K. shares dropped after advancing for six straight days, as some major companies tumbled after they published disappointing forecasts. The FTSE 100 Index fell 0.7% to 6,625.43 as of 11:49 London time; however, the benchmark-index jumped 3.5% in the last six days. The FTSE All-Share Index slid 0.7%, while Ireland's ISEQ Index retreated 1.2% today.
Australia's Dollar fell by the most in approximately a month after unemployment rate rose to the highest level in more than a decade and companies cut jobs surprisingly. The Aussie slipped 1% to 89.39 U.S. cents at 6:17 p.m. Sydney time, after reaching 90.67 yesterday. The Australian Dollar declined 1.5% to 91.20 Japanese Yen.
The British currency appreciated for third straight day versus the greenback on bets that the economic recovery will impact the case for the BoE to increase interest rates sooner. The Pound added 0.3% to $1.6648 as of 9:59 a.m. in London, while the currency slipped 0.3% to 82.13 pence per Euro after climbing 1.2% yesterday, the biggest advance since December
The U.S. Dollar dropped the most in about three weeks versus the 18-nation currency ahead of U.S. retail sales data that are forecasted to stall. The greenback slid 0.6% to $1.3672 per Euro as of 10:32 a.m. in London, the biggest retreat since January 23. The U.S. Dollar slipped 0.6% to 101.97 Japanese Yen, while the Swiss Franc added 0.8%
Unemployment rate in Greece reached a new record-high level in November of the last year, surging to 28% from 27.7% a month before that and 26.3% in November 2012. Therefore, the total number of unemployed people hit 1.38 million. Moreover, the official statistical data showed an increase in youth joblessness as well – for this time from 61% to 61.4%
Budget deficit of the U.S. government dropped significantly in October-January of the current financial year, retreating by 36.6% on the annual basis. In January only, the deficit reached $10.4 billion, also considerably lower than it was predicted by analysts. The U.S. Budget Office forecasts the deficit to decrease from $680 billion in the financial year 2013 to $514 billion this
The Central Bank of Sweden decided to implement no changes to the monetary policy in the country, keeping the main interest rate at 0.75%, as it was expected by analysts. The Riksbank wants the economy to recover on a higher pace, as dependence on exports and falling demand in Europe decreased economic growth. Moreover, the CB forecasts the inflation to
Nestle SA, the Swiss-based largest food company in the world, expects its revenue to rise slightly in 2014, close to its worst growth pace of 4.1%, registered in 2009. As predicted, sales will pick up 5% this year. At the same time, company expects the sales to rise faster in the second half of the year. Today, Nestle SA equities
BNP Paribas SA, the biggest bank in France, posted a considerable decline in its quarterly profit, while it set aside more than $1.1 billion to cover legal charges. Net income for October-December reached 127 million euro versus 519 million euro a year ago. Analysts waited for a 1.02 billion euro profit. Today, BNP Paribas shares are losing 4.7% to 57.98
Unemployment level in Sweden surprisingly advanced in January of this year, reaching 8.6%, up from 8.4% in January 2013. At the same time, analysts predicted the indicator to fall to 8.3%. Therefore, the total number of people without any work hit 436,000. Moreover, it is worth pointing out that among young people aged 15 to 24 years jobless rate stayed
European equities retreated on Thursday session signaling that the region's benchmark index Stoxx Europe 600 is set to snap its longest streak of gains this year and companies from Zurich Insurance Group to BNP Paribas SA reported earnings. The Euro Stoxx 50 Index with settlement in March fell 0.4% to 3,082 as of 7:17 a.m. London time, while the London's
Gold increased on Thursday trading session rising towards the strongest level in a three-month period as investors assessed prospects of further U.S. stimulus cuts and signs of reducing physical demand mainly from Asia. Bullion for settlement in February swung between gains and losses and was last seen at $1,289.33 an ounce as of 2:50 p.m. Singapore time.
The European benchmark Brent crude declined today with the Brent-WTI premium shrinking to the narrowest level since October after the Keystone XL pipeline started moving oil to Texas again and as inventories at storage hub have felt to 37.6 million barrels. Brent for delivery in February shed 46 cents to $108.33 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil slipped on Thursday trading session on concerns that recent rally towards the strongest level in nearly four months was too rapid according to a technical analysis. WTI for settlement in March fell 74 cents to $99.63 per barrel on the NYMEX and was last seen at $99.75 as of 3:30 p.m. in Singapore.
Performance of the Europe's largest economy is likely to improve this year than preliminary estimated mainly due to an increase in domestic demand, a data revealed by the Economic Ministry showed on Wednesday. German gross domestic product may grow by 1.8% in 2014, which is upwardly revised from a 1.7% gain estimated earlier in October.