Asian shares gained, bolstered by Japanese stocks, after Japan's Prime Minister Shinzo Abe stated the government will increase its sales tax; however, gains were limited as the U.S. government has its first partial shutdown in almost 20 years. The MSCI Asia Pacific Index added 0.3% to 138.96 at 2:37 p.m. Tokyo time and the gauge has climbed 6.4% in September.
The Canadian currency reached the highest level in four days after gross domestic product data showed growth in July, fueling the speculation that nation's economy is bouncing off from a slowdown in the second quarter. Canada's Dollar strengthened 0.3% to C$1.0275 per U.S. Dollar before reversing advances at the end of the day reaching C$1.0309 at 5 p.m. Toronto time.
At midnight the U.S. government went for partial shutdown as Republicans and Democrats did not manage to reach consensus on Obamacare, yet major negotiations on debt limit increase still to come. The shutdown will hurt consumers' and businesses' confidence and is expected to decrease GDP by 300 million Dollars a day, which will weaken pace of country's economic recovery.
The Aussie rose versus 15 of 16 its most-traded peers after better than expected retail sales and that supported worries that nation's central bank will not cut interest rates today. Australia's currency gained 0.2% to 93.37 U.S. cents after reaching 92.81 on Monday, while the Kiwi added 0.1% to 83.08 U.S. cents.
Italy's inflation measured as harmonized index of consumer prices (HICP) slowed down more than economists initially forecast in the month September, a report released by the statistical office Istat revealed on Monday. The report showed that the HICP advanced 0.9% year-on-year in September after it added 1.2% in the month before, the same level as recorded in July.
Mortgage approvals for house purchases in the United Kingdom advanced more than originally expected in August rising to the highest level since February 2008, a data published by the Bank of England unveiled on Monday. The data showed that mortgages granted by lenders stood at 62,226 in August, up from 60,914 in July, while it was forecast to grow to
Current account surplus in Spain advanced notably in the month of July from the same period last year mainly due to a foreign trade improvement, a government data showed on Monday. According to the data, current account came in surplus of 1.63 billion euros in July exceeding a level of 825.5 million euros recorded in the month last year.
Public debt in Spain is projected to increase to around 100% of gross domestic product by the end of 2014, according to the draft budget proposal released by the Budget Ministry on Monday. Spain's public debt will rise to 99.8% in 2014 from a level of 94.2% this year, while pension payments will advance 0.25% by the end of 2014.
European stocks retreated to lowest level in two weeks as the U.S. faces the government shutdown and the Prime Minister of Italy, Enrico Letta struggles to save his administration. The Stoxx Europe 600 Index lost 0.6% to 310.34 as of 3:31 p.m. London time, while it has still gained 4.3% this month as the Fed did not taper its monthly
Siemens AG, one of the leading engineering companies in the world, announced around 15,000 job cuts worldwide, as the company is missing its profit estimates. This amount represents about 4% of all Siemens workforce. Company's new CEO Joe Kaeser confirmed that a third of all job positions will be eliminated in Germany. Today Siemens AG shares traded down 1.07% to
Chicago PMI, one of the most valuable indicators to evaluate the health of the U.S. economy, jumped to 55.7 points in September of this year, while a month earlier the index was at 53 points. The majority of economists forecasted the index to increase slightly to 54 points. Chicago PMI advances for the third consecutive month, while new orders soared
U.S. Treasuries advanced on Monday to the seven-week highest level, as investors fear the country's government crisis, as Democrats and Republicans cannot reach the deal over the next year's budget. Moreover, if the deal is not reached until the midnight, over 800,000 federal workers will have to take unpaid vacations. U.S. 10-year notes yields lost 0.01% to 2.61% at 8:00
Apple Inc. overtook the leadership from the Coca-Cola Company as the most valuable brand in the world. The former's brand value added 28% to $98.3 billion, while the latter declined to $79.2 billion. Analysts point on the ability of Apple CEO Tim Cook to keep the company growing and developing. Apple Inc. equities, however, are losing 1.35% to $476.21 after
Economic growth in Canada jumped to 0.6% in July of this year to $1.54 trillion on the annual basis. Economists say that recovery was mainly caused by the end of construction strike in the county of Quebec and floods in Alberta. In June economy has lost 0.5%. Meanwhile, the Bank of Canada expects the country's economy to expand 3.8% in
Inflation in the 17-nation bloc increased by less than initially forecast in the month of September, when the rate rose 1.1% after it gained 1.3% in August, the slowest advance since February 2006, the statistical office Eurostat reported on Monday. According to the report, the inflation was projected to rise 1.2%, while core inflation excluding energy, food, alcohol and tobacco
The Chinese Yuan advanced on Monday completing its fifth successive quarter of gains due to stronger fixing set by the People's Bank of China at 6.1480 in the Q3, suggesting that China's economy is recovering from the previous slowdown. The Yuan jumped by 0.25% this quarter to a level of 6.1220 per U.S. Dollar in Shanghai following a 1.2% increase
Emerged economic expansion in the Eurozone is considered to be weak to influence labor market conditions and decrease jobless rate of 12.1%. The unemployment is anticipated to jump to 12.3% in Q4 2013 and remain exceeding 11% throughout 2015, while the GDP in the Euro bloc advanced 0.3% in Q2 and is expected to rise 1% in 2014 prior 0.4%
The British Pound increased for the fourth straight day against the shared currency after a report showed that house prices advanced by the most in a six-year period in September suggesting that the U.K. economy is improving. The Sterling added 0.2% to 83.62 per Euro by 9:33 a.m. in London after it strengthened to 83.40 pence, the highest since January
The Japanese Yen increased versus majority of its counterparts on Monday trading session after demand for the Yen as a haven currency was boosted as the U.S. government may partially shut down from tomorrow. The Yen gained 0.4% to 97.88 per U.S. Dollar as of 10:13 a.m. in London after it reached the strongest level since August 29 at 97.53
Japan's industrial production contracted more than economists originally projected in the month of August, the Ministry of Economy, Trade and Industry reported on Monday. The report showed that the country's industrial output fell 0.7% in August from the month before, while it was forecast to drop by 0.3% after it increased 3.4% in July.
Producer prices in Italy dropped for the sixth successive month in August, a report released by the statistical office Istat showed on Monday. According to the report the producer price index slipped 2% on an annual basis on August after it dropped 1.3% and 0.7% in July and June respectively, while on a sequential basis the PPI added 0.2% in
Automobile production in the Asia's second largest economy declined in the month of August mainly due to a notable 15.1% fall of motorcycle production and a 13.9% drop in foreign demand, a data released by the Japan Automobile manufacturers Association showed on Monday. The country's automobile production slip 7.6% in August as automobile sales fell 1.1%, whereas exports rose 2.1%
Copper dropped for the first time in a four-day period on Monday paring its largest quarterly gain since March 2012 amid speculation about a partial shutdown of the U.S. government. The metal for December delivery fell 0.6% to $7,254 a metric ton on the London Metal Exchange and it was traded at $7,280 as of 10:43 a.m. Tokyo time.
Soybean futures slip on Monday reducing its first quarterly increase in a year amid concern that crop inspections may be disrupt by a possible shutdown of the U.S. government, while harvest prospect were boosted by favourable weather. Soybeans for delivery in November slipped 0.8% to $13.09 a bushel on the CBOT and were traded at $13.1075 as of 11:28 a.m.