U.K. unemployment claims dropped the most in approximately 16 years in September, while the jobless rate remained at 7.7% for a third consecutive month on signs that the labor market is gaining momentum. Jobless claims declined 41,700, the most since year 1997, topping the economists' predictions of 25,000, according to the Office for National Statistics.
European shares reversed their earlier retreat after a report that the Republican leader has approved a proposal to raise the government's debt limit. The Stoxx Europe 600 Index rose 0.2% to 315.45 as of 3:04 p.m. London time, reversing its previous decline of 0.6%. The U.K.'s FTSE 100 gained 0.3%, while Germany's DAX climbed 0.5%.
Japanese stocks fluctuated between gains and declines as U.S. lawmakers resumed their talks to avoid a U.S. default by reaching a deal on the U.S. budget and the debt ceiling. The Topix slipped 0.1% to 1,196.28 at 9:43 a.m. Tokyo time, after advancing 0.2%, while the Nikkei 225 Stock Average climbed less than 0.1% to 14,445.25.
U.S. shares climbed, after the Standard & Poor's 500 Index advanced for a fifth day out of last six, as policy makers are in a hurry to make an agreement on increasing the debt limit ahead of tomorrow's deadline. The S&P 500 added 0.6% to 1,708.93 as of 9:39 a.m. New York time; however, the equity-benchmark slipped 0.7% on Tuesday,
The British currency appreciated for a third straight day versus the greenback after the U.K. unemployment data that showed the biggest decline in 16 years. The Sterling gained 0.1% to $1.6014 as of 1:50 p.m. in London, after advancing to $1.6059, the strongest level since October 9. The Pound fell 0.1% to 84.66 pence per Euro, after sliding to 85.10
The European Central Bank plans to test Eurozone's banks in early 2014, while the ECB lawyers are developing rules of how to do it. It is said that more than 130 banks will be checked for balance sheets' health, and tests will be held in both big and small European banks. Mario Draghi, the ECB President, said that stress-tests are
Property prices in Hong Kong will lose as much 25% in the nearest future, as supply rises on significant increase of construction pace, while Bank of America experts see a possible advance of interest rates. From the overall drop of 25% only 5% will take place this year, but in 2014 prices will slump by additional 15%. Since March Hong
Chinese Finance Minister said that the United States have to raise debt ceiling and approve budget in order to provide market and financial stability not only in its own country, but in the whole world, as the U.S. holds the reserve currency and has the largest economy in the world. China, in turn, holds more than 1.25 trillion of Treasuries,
Portuguese government plans to cut additional 3.2 billion euros from spending during 2014 in order to reach deficit target of 3%, while the country's aim is to exit from the bailout program. Moreover, 1.3 billion from the whole cuts will come from the state sector, as government employees who earn 600 euros and more will see a salary decrease of
European shares fell on Wednesday suggesting that the benchmark Europe Stoxx 600 Index may drop from the strongest level in nearly four weeks as U.S. policymakers continued to negotiate the federal debt limit avoiding country's default. Euro Stoxx 50 Index futures expiring in December slipped 0.3% to 2,985 as of 7:45 a.m. London time, while U.K.'s FTSE 100 Index fell
U.S. one-month rates fluctuated on Wednesday and were traded close to the strongest level since 2008 before an auction today offering short-term debt totalling $68 billion following three- and six- month auctions drawing the weakest demand in 4 years. One-month bill rates were at 0.34% at 7:01 a.m. London time after touching 0.36% yesterday and today, the most since October
German government bunds were little changed on Wednesday before a report was released showing that inflation in the 17-nation bloc increased at the fastest rate since March in September. The benchmark 10-year government bund yielded at 1.91% as of 7:26 a.m. London time following a gain to 1.92%, the highest level since September 24.
Car sales in European countries increased in September of this year, as the registrations added 5.4% on the annual basis to 1.15 million units. Despite that, it is the second lowest number of sales for September. Moreover, for first nine months of 2013 registrations dropped 3.9%. United Kingdom, France and Spain posted gains in car sales, while German and Italian
Canada's Dollar decreased on Tuesday trading session falling from strongest level in a week against its U.S. counterpart as investors hoped for an end of the U.S. government partial shutdown avoiding a default of Canada's biggest business partner. The so-called Loonie dropped 0.3% to C$1.0383 per U.S. Dollar as of 5:06 p.m. Toronto time following a gain to a week
Gold declined on Wednesday falling for the first time in a three-day period amid speculation that an agreement will be reached in debt limit talks avoiding the country's technical default before tomorrow's deadline. Bullion for delivery in October dropped 0.6% to $1,274.51 an ounce and it was traded at $1,279.84 as of 11:37 a.m. Singapore time.
China's equities dropped on Wednesday falling by the most in three weeks as Shanghai's free trade zone companies slipped amid speculation of excessive valuations and as JPMorgan Chase & Co. recommended reducing holdings amid economic slowdown of the nation. The Shanghai Composite Index fell 1.6% to 2,198.90 as of 1:12 p.m. and was set to record its largest fall since
West Texas Intermediate crude was little changed on Wednesday traded close to the strongest level in three months as U.S. lawmakers continued the debate over the new federal budget avoiding technical default of the world's largest oil user. WTI for settlement in November dropped 14 cents to $101.07 a barrel on the NYMEX as of 2:03 p.m. Singapore time.
Corn swung between gains and losses on Wednesday after it recorded the largest increase since September 6 amid speculation that this year's harvest may be the highest all time on rains in the Midwest following drier weather later this week. Corn for delivery in December advanced 0.2% to $4.445 a bushel on the CBOT as of 12:56 p.m. Singapore time.
Wall Street decreased on Tuesday trading session before the U.S. government long-term foreign debt was place under negative watch and as investors weighed on continued debt limit debate showing no progress. The benchmark Dow Jones industrial average dropped 0.87% to 15,168.01, the Standard & Poor's 500 Index fell 0.71% to 1,698.06 and the Nasdaq Composite index slipped 0.56% to 3,794.01.
The U.S. Dollar strengthened on Wednesday rising against the Japanese Yen as investors stayed optimistic about the new federal budget deal avoiding the country default before deadline on October 17. The so-called Greenback advanced 0.4% to 98.55 yen after it fell to 97.99 on yesterday's trading session, while it added 0.2% versus the Swiss Franc to 0.9144.
Asian equities tumbled on Wednesday and were traded not far from the highest level in five months as investors hope for a deal in the U.S. federal debt limit talks between President Barack Obama and House Republicans before deadline on October 17. The MSCI Asia-Pacific Index outside Japan fell 0.2%, while Japan's Nikkei also dropped 0.2% and Australian and Honk
New York area business conditions for manufacturers slowed down in October missing original economists' expectations, the Federal Reserve Bank showed in a report on Tuesday. According to the report, the index of general business conditions dropped from 6.3 points recorded in September to 1.5 in October, while it was forecast to grow 7.0 points on the month.
An economic activity leading index in Australia decreased in August signaling that the country's economy lost its momentum and this trend may continue, the Westpac and the Melbourne Institute reported on Wednesday. The report showed that Australia's leading index dropped 0.1% from 294.8 recorded in July to a level of 294.5 in the following month.
Inflation in New Zealand increased in the three months ended in September compared to the Q2 missing preliminary economists' expectations, a data released by the Statistics New Zealand revealed on Wednesday. According to the data, consumer prices rose 0.9% in the Q3, while the figure was forecast to record 0.8% increase after it advanced 0.2% in the Q2.