U.K. shares dropped after advancing for six straight days, as some major companies tumbled after they published disappointing forecasts. The FTSE 100 Index fell 0.7% to 6,625.43 as of 11:49 London time; however, the benchmark-index jumped 3.5% in the last six days. The FTSE All-Share Index slid 0.7%, while Ireland's ISEQ Index retreated 1.2% today.
Australia's Dollar fell by the most in approximately a month after unemployment rate rose to the highest level in more than a decade and companies cut jobs surprisingly. The Aussie slipped 1% to 89.39 U.S. cents at 6:17 p.m. Sydney time, after reaching 90.67 yesterday. The Australian Dollar declined 1.5% to 91.20 Japanese Yen.
The British currency appreciated for third straight day versus the greenback on bets that the economic recovery will impact the case for the BoE to increase interest rates sooner. The Pound added 0.3% to $1.6648 as of 9:59 a.m. in London, while the currency slipped 0.3% to 82.13 pence per Euro after climbing 1.2% yesterday, the biggest advance since December
The U.S. Dollar dropped the most in about three weeks versus the 18-nation currency ahead of U.S. retail sales data that are forecasted to stall. The greenback slid 0.6% to $1.3672 per Euro as of 10:32 a.m. in London, the biggest retreat since January 23. The U.S. Dollar slipped 0.6% to 101.97 Japanese Yen, while the Swiss Franc added 0.8%
Unemployment rate in Greece reached a new record-high level in November of the last year, surging to 28% from 27.7% a month before that and 26.3% in November 2012. Therefore, the total number of unemployed people hit 1.38 million. Moreover, the official statistical data showed an increase in youth joblessness as well – for this time from 61% to 61.4%
Budget deficit of the U.S. government dropped significantly in October-January of the current financial year, retreating by 36.6% on the annual basis. In January only, the deficit reached $10.4 billion, also considerably lower than it was predicted by analysts. The U.S. Budget Office forecasts the deficit to decrease from $680 billion in the financial year 2013 to $514 billion this
The Central Bank of Sweden decided to implement no changes to the monetary policy in the country, keeping the main interest rate at 0.75%, as it was expected by analysts. The Riksbank wants the economy to recover on a higher pace, as dependence on exports and falling demand in Europe decreased economic growth. Moreover, the CB forecasts the inflation to
Nestle SA, the Swiss-based largest food company in the world, expects its revenue to rise slightly in 2014, close to its worst growth pace of 4.1%, registered in 2009. As predicted, sales will pick up 5% this year. At the same time, company expects the sales to rise faster in the second half of the year. Today, Nestle SA equities
BNP Paribas SA, the biggest bank in France, posted a considerable decline in its quarterly profit, while it set aside more than $1.1 billion to cover legal charges. Net income for October-December reached 127 million euro versus 519 million euro a year ago. Analysts waited for a 1.02 billion euro profit. Today, BNP Paribas shares are losing 4.7% to 57.98
Unemployment level in Sweden surprisingly advanced in January of this year, reaching 8.6%, up from 8.4% in January 2013. At the same time, analysts predicted the indicator to fall to 8.3%. Therefore, the total number of people without any work hit 436,000. Moreover, it is worth pointing out that among young people aged 15 to 24 years jobless rate stayed
European equities retreated on Thursday session signaling that the region's benchmark index Stoxx Europe 600 is set to snap its longest streak of gains this year and companies from Zurich Insurance Group to BNP Paribas SA reported earnings. The Euro Stoxx 50 Index with settlement in March fell 0.4% to 3,082 as of 7:17 a.m. London time, while the London's
Gold increased on Thursday trading session rising towards the strongest level in a three-month period as investors assessed prospects of further U.S. stimulus cuts and signs of reducing physical demand mainly from Asia. Bullion for settlement in February swung between gains and losses and was last seen at $1,289.33 an ounce as of 2:50 p.m. Singapore time.
The European benchmark Brent crude declined today with the Brent-WTI premium shrinking to the narrowest level since October after the Keystone XL pipeline started moving oil to Texas again and as inventories at storage hub have felt to 37.6 million barrels. Brent for delivery in February shed 46 cents to $108.33 per barrel on the London's ICE Futures Europe exchange.
West Texas Intermediate oil slipped on Thursday trading session on concerns that recent rally towards the strongest level in nearly four months was too rapid according to a technical analysis. WTI for settlement in March fell 74 cents to $99.63 per barrel on the NYMEX and was last seen at $99.75 as of 3:30 p.m. in Singapore.
Performance of the Europe's largest economy is likely to improve this year than preliminary estimated mainly due to an increase in domestic demand, a data revealed by the Economic Ministry showed on Wednesday. German gross domestic product may grow by 1.8% in 2014, which is upwardly revised from a 1.7% gain estimated earlier in October.
Domestic corporate good in the Asia's second largest economy slightly increased in January matching initial economists' projections, a report published by the Bank of Japan showed on Thursday. Japan's corporate goods prices index advanced modestly by 0.1% in January standing at a level of 102.9 points following an advance by 0.3% in the month before.
Australia's unemployment rate increased significantly in the first month of 2014 missing an initial economists' forecast and recording the highest reading since 2003, a report published by the Australian Bureau of Statistics showed on Thursday. The country's jobless rate came in 6.0% in January, while it was forecast to growth to 5.9%, the same level recorded in December.
Economic recovery in the 18-nation bloc remains fragile at the beginning of the new year signaling that the European Central Bank may be under pressure about cutting interest rates further or providing financial stimulus, HIS Global Insight revealed on Thursday. According to the IHS Global Insight, the Eurozone may has expanded in range between 0.2-0.3% in the last quarter of
Inflation measured as harmonized price index in the Europe's largest economy remained unchanged at the beginning of 2014, the latest data revealed by the Federal Statistical Office showed on Thursday. According to the report, German harmonized index of consumer prices gained 1.2% in January after recording the same reading in the previous month matching preliminary estimates.
Portugal's tenth disbursement totaling 910 million euros provided by the International Monetary Fund was agreed by the fund today as a part of the country's bailout program after the fund representatives completed country's review, the IMF Executive Board revealed on Thursday. According to the IMF, Portugal short-term outlook and unemployment improved, while risk remains high.
United Kingdom house prices accelerated in January, however the pace of growth was lower than recorded in the last month of 2013, a private survey released by the Royal Institution of Chartered Surveyors showed on Thursday. According to the survey, the country's house prices slipped modestly from December's Plus-56 to a level of Plus-53 in January.
Inflation expectations among Australia's consumers stayed unchanged and remained within the 2-3% target set by the Reserve Bank of Australia, a survey published by the Melbourne Institute showed on Thursday. According to the survey, the country's inflation is forecast to record 2.3% over the coming year, the same rate recorded in the month of January.
The Australian Dollar recorded a steep decline on Thursday as a report showed that unemployment rate in the country increased to the highest level since 2003 rising speculation for further rate cuts. The so-called Aussie slipped 1.1% to $0.8928 falling from the strongest level in a month at $0.9068 touched on Wednesday, it also lost 1.2% versus yen to 91.34.
The majority of Asian shares inched lower on Thursday trading session falling from their highest level in three weeks and snapping five-day winning streak amid concerns over global economic growth as the U.S. Federal Reserve may continue to scale back its stimulus measures. The MSCI broadest Asia-Pacific gauge outside Japan dropped 0.7% following an increase by 4.5% in the previous