The composite index of U.S. leading indicators rose more than expected in October, said the Conference Board Inc. on Friday. The index gained 0.9 per cent from September, easing worries the largest economy in the world may slide into recession.
U.K. stocks dropped for a fifth consecutive day on Friday, after France and Germany clashed over the role of the ECB in financial crisis management. The benchmark FTSE 100 index edged lower 1.11%, or 60.20 points, to 5,362.94. The FTSE All-Share Index also decreased 1.09%, or 30.47 points, to 2,764.19.
Swiss stocks extended losses on Friday on concern that European top officials don't have a solution to the sovereign debt crisis and after France and Germany clashed over the role of the ECB in financial crisis management.
Japanese stocks edged lower on Friday as car makers slid after Credit Suisse downgraded its rating on the industry. The Nikkei 225 lost 1.23%, or 104.72 points, to 8,374.91, while the broader Topix decreased 1.06%, or 7.73 points, to 719.98.
Germany and France, two key economies of the European Union, clashed over the role of the European Central Bank in financial crisis management, after modest bond sales by Italy and Spain failed to win back investor confidence.
The number of Americans claiming for jobless benefits decreased to 388 thousand last week, the lowest level since May 2011, signaling gradual improvement in the U.S. employment market. Economists expected the reading to advance to 396 thousand.
U.K. retail sales unexpectedly increased 0.6 per cent in October, compared to the previous month, despite faltering consumer confidence, said the Office for National Statistics on Thursday.
Swiss stocks lost ground on Thursday amid higher borrowing costs for Spain and France. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.72%, or 41.18 points, to 5,644.62. The broader Swiss Performance Index declined 0.74%, or 38.24 points, to 5,122.25.
Japanese stocks rebounded on Thursday after Olympus Corp. jumped 19% and Japan Petroleum Exploration Co. gained 3.6%. The Nikkei 225 rose 0.19%, or 16.47 points, to 8,479.63, while the broader Topix climbed 0.50%, or 3.60 points, to 727.71.
Recently appointed Italian Prime Minister Mario Monti formed a new government on Wednesday to avert collapse of the nation's economy and win back investors' confidence. Members of the government are mainly drawn from private sector and academia with Monti to serve as prime minister and economy minister.
U.S. consumer prices decreased slightly for the first time in four months in October, giving the Federal Reserve opportunity to ease monetary policy in case the economy falters. The prices dropped 0.1 percent, compared to September, said the Labor Department on Wednesday.
The number of people claiming unemployment benefits rose 5.3 thousand to 1.6 million in October, while the jobless rate increased to 8.3 percent, the highest reading in 15 years, said the Office for National Statistics on Wednesday.
Swiss stocks gained on Wednesday, after Italian Prime Minister Mario Monti formed a new government. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, rose 0.37%, or 20.89 points, to 5,685.80. The broader Swiss Performance Index advanced 0.26%, or 13.49 points, to 5,160.49.
The Bank of Japan downgraded its economic assessment but left monetary policy unchanged on Wednesday, saying the Europe's debt crisis represents the biggest risk to the country's export led recovery.
Japanese stocks declined on Tuesday amid higher borrowing costs for Italy. The Nikkei 225 decreased 0.72%, or 61.77 points, to 8,541.93, while the broader Topix lost 0.67%, or 4.94 points, to 730.91.
Swiss stocks closed mixed on Tuesday, as disappointing economic growth in Europe was partly offset by better than expected retail sales in U.S. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 0.06%, or 3.20 points, to 5,664.91. The broader Swiss Performance Index declined 0.08%, or 4.03 points, to 5,147.00.
U.K. inflation eased more than expected in October amid faltering global economic growth, leaving the door open for more stimulus. Consumer price index rose 5%, said the Office for National Statistics on Tuesday.
U.S. retail sales increased in October, compared to September, easing concerns the largest economy in the world may slide into recession. Total retail sales advanced 0.5 percent, after increasing 1.1 percent in September, said the Census Bureau on Tuesday. Economists expected the reading to advance 0.3 percent.
The Euro Zone economy grew 0.2 percent in the third quarter compared to the previous three months fuelling concerns the bloc may slide into recession in forthcoming months, according to the figures released by the Eurostat agency on Tuesday.
Spanish 10-year national bond yield peaked back breaking 6% first time in 3 months, reaching 6.07%. Premium required by investors to provide financing for Spain exceeds price demanded from Germany by 4.25 percentage points. According to Nick Stamenkovic, RIA Capital in Edinburgh, economist, it seems investors are changing their direction towards Spain.
Japanese economy grew 1.5 percent in the third quarter 2011, compared to the previous 3 months, but outlook remains clouded with strong yen and faltering global economic growth, said the Cabinet Office on Monday.
An index measuring hiring intentions amid U.K. employers worsened to minus 3 in the fourth quarter from minus 1 in the previous three months, said Chartered Institute of Personnel and Development.
President Barack Obama arranged a forum of 21 Asian-Pacific nations in Hawaii this weekend with the long term goal to expand U.S. influence in the region.
German Chancellor Angela Merkel said on Monday that European Union possibly faces its worst crisis since World War Two and hinted that Europe must move step-by-step towards political union, offering no new ideas on how to resolve the crisis.