Chinese shares rose on Monday finishing the best quarter in a three-year period mainly due to an increase of consumer discretionary and technology companies before the markets closed for the nation's week-long holidays. The Shanghai Composite Index added 0.7% to 2,174.67 at close, while the Hang Seng China Enterprise Index fell 1.6% and the CSI 300 Index jumped 0.6% to
The government will cut the pension deficit by 25% per year starting with 2019 compared to proposed range of 25-33% reductions beginning with 2014-2019. By 2016, Spain must decrease budget deficit to maximum 3% of GDP, while in 2012 country's total deficit amounted 6.8% of GDP, from which 1% or 10 billion euros was contributed by the system of social
German economy was buoyed by solid retail sales that gained 0.3% year-on-year in August and 0.5% compared to July, belying expectations of a monthly increase of 0.8% . Meanwhile, the GDP advanced 0.7% in Q2 , yet the growth is forecast to slow down in the third quarter, averaging at 0.3% in 2013 and 1.5% in 2014. At the same
German inflation remained flat at the three-month low in September, adding to the case that nation's economy is getting better. Inflation rate was 1.6% and that matched economists' forecasts, also Germany's unemployment rate is near the lowest level in 20 years and these were the main factors why Angela Merkel's party won the recent election.
Economic sentiment in the Euro bloc rose beating economists' expectations in September, indicating that Euro area is recovering from financial crisis. Executive and consumer confidence index increased for a fifth consecutive month reaching 96.9 compared to previous month's 95.3, according to the European Commission.
The pound advanced versus the greenback to $1.6133 Friday morning after the Bank of England Governor stated that increase in bond-buying policy is unnecessary as economic conditions are strengthening. Mark Carney stated that the case for increase in QE is if the U.K. economy stumbles, yet some experts anticipate the BoE will increase stimulus to lower recently risen market rates.
Gold fluctuated between gains and declines as investors speculated that the Fed might consider starting tapering after U.S. unemployment claims dropped surprisingly. The yellow metal price was little changed at $1,325.81 an ounce as of 2:42 p.m. Singapore time, while the bullion price for December delivery gained 0.2% to $1,326.20 an ounce.
Shares in Switzerland were little changed, with the Swiss Market Index set for a one-week retreat, as Eurozone's economic confidence data were awaited by investors. The Swiss Market Index dropped 0.2% to 8,048.18 as of 9:32 a.m. Zurich time, setting this week's decline to 0.7%, while the Swiss Performance Index slid 0.1% today.
Asian shares are set for the biggest monthly climb in three years after U.S. unemployment claims dropped surprisingly and Japan's inflation picked up the most since 2008. The MSCI Asia Pacific Index added 0.3% to 140.89 at 2:21 p.m. Hong Kong time and the gauge has risen 8% monthly, reaching the highest level in four months.
Barclays Plc bank experts point out that Europe's recovery can boost global economic growth, as the research has shown that a 1% advance in European economy make 33 out of 39 large economies to rise as well. Moreover, the European impact on global economic growth in three times bigger than U.S. effect, as the whole European economy is bigger and
European shares were little changed before Eurozone's confidence data that are awaited by investors. The Stoxx Europe 600 Index gained 0.1% to 313.24 as of 8:27 a.m. London time; however, the equity-benchmark has fallen 0.3% weekly on worries that U.S. lawmakers could fail to approve the new budget for upcoming financial year.
People, who invest their money in property in the London's Midtown, are observing the faster property price increase, making their returns even bigger, as infrastructure projects, such as Crossrail, make this district very attractive. According to data, property and rent prices in Midtown surged 5.9%, comparing with a 5.4% price rise in the West End and a 4.3% advance in
Raghuram Rajan, the Reserve Bank of India Governor, is determined to apply consumer-price inflation instead of currently used wholesale-inflation gauge, signaling plausible advance in interest rate. The RBI makes price pressure number one priority as in August consumer based measure climbed 9.2% year-on-year and 8.2% excluding food and fuel.
French households' consumption declined 0.4% in August on a monthly basis, while analysts forecasted the consumption to add 0.3% after July gain of 0.4%. It is worth pointing out that the French bought 0.7% less food and 1% less energy products, while spending on durable goods decreased only by 0.3%. On the annual basis spending slumped 0.1% against 0.3% increase
Esther George, the Federal Reserve Bank of Kansas City president, announced during his speech on Thursday that U.S. economy is improving and labor market conditions are quite good to start tapering stimulus, which now stands at $85 billion per month. On these news U.S. government bonds' almost stopped falling, as the 10-year bond yields added only 0.01% to 2.66% at
BHP Billiton Ltd., an Australian mining and petroleum company, sold $5 billion of corporate bonds, as the yields declined amid signs of economic recovery in Europe and U.S., which can boost demand for commodities. Bond maturity varies from three to 30 years, while the 30-year bond yields decreased to 5.001%. BHP Billiton Ltd. equities traded today 0.03% higher to $36.36
The Japanese Yen appreciated against all of its most-traded peers as investors searched for haven on worries that U.S. political issues could lead to government shutdown. The Yen gained 0.4% to 98.61 per Dollar at 6:55 a.m. London time, while it added 0.4% to 133.04 per Euro. The greenback traded at $1.3491 against Eurozone's currency.
Local elections in Portugal will take place this Sunday, while the government is planning high budget cuts in 2014 to get approval for a new 78 billion euros bailout program. Government is going to decrease budget spending by 3.3 billion euros. Meanwhile, experts say that local election results will not be influenced by state austerity measures, as people in Portugal
The government shutdown for three or four weeks is expected to decrease economic growth 1.4%; yet if it continues to run, the growth rate is anticipated to be 3%. The country's administration already experienced interruptions that lasted around five and 20 days in Q4 1995, which decreased GDP 0.25 percentage point as furloughed workers' output was taken away from the
The Canadian Dollar fell to the lowest level weekly after positive U.S. economy data that indicated on nation's recovery and on increasing oil prices. Canada's currency was at C$1.0310 per U.S. Dollar as of 5 p.m. Toronto time after reaching C$1.0341, the lowest level since September 16; however, the currency has advanced 2% this quarter.
Japanese inflation jumped 0.8% in August of this year on the annual basis, while the increase was the fastest since 2008. Economists, on average, forecasted a consumer price index to add 0.7%. It is worth pointing out that overall prices in the country declined 0.1%, excluding perishables and energy. Government's plan provides that rising inflation will increase wages level across
The Aussie and the Kiwi are set for their first one-week retreat monthly versus the U.S. counterpart on the U.S. government shutdown speculation. The Australian currency dropped 0.2% to 93.46 U.S. cents at 2:11 p.m. Sydney time, after reaching 93.33 earlier, the weakest level since September 17, while the Kiwi slid 0.1% to 82.86 U.S. cents .
Home prices in the United Kingdom surged 0.9% in September of this year on a monthly basis, while annually prices added as much as 5%. In August housing price indexes were 0.7% and 3.5%, respectively. September data exceeded analysts' estimates of a 0.5% rise. Moreover, in September home prices increased in all thirteen U.K. regions for the first time in
Wal-Mart Stores Inc., the biggest reseller company in the world, plans to decrease its orders for a number of products, as inventories have risen to their limit, while sales amounts do not keep up with supply. Moreover, rising inventories have already decreased company's profit in the second quarter of 2013. Wal-Mart Stores Inc. shares are trading down 0.07% to $74.60