Consumer confidence in the U.S. recorded a steep declined in the month of October caused mainly by this month's partial government shutdown, a report published by the Conference Board revealed on Tuesday. The report showed that consumer confidence index slipped from 80.2 in September to 71.2 in the following month, while it was expected to slide to 75.0.
Business inventories in the world's largest economy increased matching economists' projections in the month of August, the Commerce Department reported on Tuesday. According to the report, U.S. business inventories advanced 0.3% in August after the figure jumped 0.4% in the month before, while merchant wholesalers' inventories added 0.5% on the month.
The U.S. government five-year yield declined two basis points to 1.27% as of 11:47 am in New York, the weakest level since June, amid speculations Fed is likely to hold tapering its debt-purchase programme until next year, which will boost a demand for $35 billion securities sale. Meanwhile, the price for 1.375% security note maturing in September 2018 added 63
According to the new outlook of Goldman Sachs, one of the largest U.S. banks, oil production in OPEC countries in 2013 will fall more than previously forecasted, as instability in Libya may cut supply. Goldman predicts the daily production to slump 760,000 barrels in 2013, while previously the bank waited for a 560,000 barrels decline. The announcement can positively influence
U.S. retailers posted an increase in their sales in September of this year, as they added 0.4% against 0.1% a month earlier. Moreover, the indicator matched economists' forecasts. Including car sales, the total sales slipped 0.1% amid weak September auto sales in the country. Still, analysts forecast the October sales to decrease more, as this month includes U.S. government and
The largest bank in Switzerland, UBS AG, reported its Q3 financial results, as the net profit stood at 577 million francs, while analysts expected the indicator to reach 561 million francs. At the same time, the bank will not be able to have its return on equity ratio at 15% by 2015 due to change in regulatory conditions. Today, UBS
Deutsche Bank AG, the largest European bank by amount of revenues, posted a 94% plunge in its profit for Q3 of this year, while the financial institution decided to save 1.2 billion euro as money that could potentially cover legal costs. The net income stood at 747 million euro in July-September. Deutsche Bank AG stocks are losing 0.73% to 35.54
Apple Inc., the most valuable company in the world, announced its quarterly financial results for July-September, as the revenues added 4% to $37.5 billion, while profit amount reached $7.5 billion, down from a year earlier. According to the official data, iPhone sales surged, while other products' sales remained flat or declined. During Monday, Apple Inc. shares added 0.74% to $529.88
U.K. mortgage approvals grew to more than a five year high in September, supporting that the property market is strengthening. Lenders gave 66,735 mortgages, it is the highest reading since February 2008; however, last month it reached 63,396, according to the Bank of England. Home-loan rates dropped to 3.3% that is a record low, while gross mortgage lending reached 15.6
German shares climbed as investors awaited for Fed's policy meeting's outcome that will begin today and speculated that officials will hold off to start tapering its bond-buying programme. The DAX Index gained 0.2% to 8,995.64 as of 9:51 a.m. Frankfurt time and it has advanced 4.7% in October, while the HDAX Index rose 0.2% today.
European shares gained as major companies reported their earnings and as the Fed began its meeting. The Stoxx Europe 600 Index rose 0.3% to 320.33 as of 10:50 a.m. London time; however, the equity-benchmark snapped its three-week climb by declining 0.2% on Monday. Standard & Poor's 500 Index futures slipped less than 0.1%, while the MSCI Asia Pacific Index slid
U.K. shares rose, prolonging its rally to the highest level in five months, as British Petroleum posted better than expected earnings, while Fed's policy meeting's outcome was awaited by investors. The FTSE 100 Index gained 0.5% to 6,756.43 as of 9:21 a.m. London time, its highest level in five months. The FTSE All-Shares Index climbed 0.4%, while Ireland's ISEQ Index
The British currency reversed previous drop that sent the currency to the lowest level in two months against the Euro after nation's U.K. mortgage approvals grew in September. The Sterling slipped 0.2% to 85.54 pence per Euro at 10:03 a.m. in London after depreciating to 85.72 pence, the lowest level since August 29. The Pound slid 0.3% to $1.6096 after
Retail sales in Spain increased in September rising for the first time in more than three years, a report published by the statistical office INE revealed on Tuesday. According to the report the country's retail sales grew 2.2% on an annual basis in September recording the first advance since June 2010, compared to a forecast of a 2.1% rise and
German government bunds fluctuated on Tuesday as the benchmark 10-year yields traded close to the lowest level since August before auctions of Italian and Finnish debt. German 10-year government bund yielded at 1.75% by 7:12 a.m. London time following a fall to the lowest level since August 13 at 1.74% on October 24, and it has lost 1.4% so far
The Australian Dollar declined on Tuesday falling to the weakest level in almost two weeks after the Reserve Bank of Australia's Governor said that the Federal Reserve eventually tapers its stimulus program debasing the U.S. currency. The so-called Aussie dropped 0.7% to 95.09 U.S. cents as of 4:15 p.m. Sydney time and reached the lowest level since October 16 at
Gold advanced on Tuesday traded near the strongest level in a five-week period after the U.S. government data signalled that the Federal Reserve may continue its $85 billion bond-purchase program after its 2-day policy meeting. Bullion with settlement in October added 0.6% to $1,360.76 an ounce and traded at $1,354.12 as of 2:46 p.m. Singapore time.
The South Korean currency strengthen on Tuesday traded near its highest level in two years after a government report showed that current-account surplus increased and the nation's exports outlook improved. The Won traded at 1,060.62 per U.S. Dollar at close in Seoul following an increase to 1,061 yesterday after it reached the strongest since August 2011 at 1,054.35 on October
West Texas Intermediate oil declined from the strongest level in a seven-day period on Tuesday before a report showed that inventoried of the crude in the world's largest consumer, U.S., advanced to 4-month high. WTI futures expiring in December slipped 47 cents to $98.21 a barrel on the NYMEX and the prices were at $98.26 as of 3:55 p.m. in
European shares fluctuated on Tuesday with the benchmark Stoxx Europe 600 Index snapping a three-week gain as investors awaited corporate earnings and an outcome of the Federal Reserve's meeting suggesting stimulus until early 2014. Euro Stoxx 50 Index futures with settlement in December fell 0.1% to 3,013 as of 7:08 a.m., while the Stoxx Europe 600 Index dropped 0.2% yesterday.
Copper traded in London declined on Tuesday falling for the first time in a four-day period before a report showed that consumer confidence in the U.S. slipped to a 5-month low and the Federal Reserve begins its two-day policy meeting. Copper for delivery in January decreased 0.8% to $7,135.25 a metric ton and it was at $7,181 as of 4:07
The Pound weakened 0.2% against the Dollar for a third day, before the Bank of England announces the mortgage approvals. The Sterling dropped 0.2% against the Eurozone's currency, thus reaching the lowest level in two months. So far the Pound has gained 3.1% in last three months, having the best performance among its major peers, while the Euro has advanced
The U.S. Dollar strengthen on Tuesday traded close to the lowest level in nine months as investors bet the U.S. central bank may maintain its bond-purchase program into early next year on its 2-day policy meeting. The Dollar index measuring performance of the currency against its most-traded counterparts jumped to 79.388 traded near the lowest since February 1 at 78.998.
Asian and Australian stocks declined on Tuesday as investors awaited results from U.S. reports and Fed's 2-day meeting suggesting further aggressive stimulus measures by the nation's central bank totalling $85 billion a month. Japan's Nikkei stock average slipped 0.5%, while he Australian shares index fell 0.5% from its five-year high recorded yesterday.