Canada's shares declined, after the biggest advance in 11 months, and raw-materials companies decreased on signals China may endure slower growth and a U.S. Federal Reserve policy maker urged slowing of the asset-buying programme. The Standard & Poor's/TSX Composite Index dropped 0.3% to 12,462.17, after advancing 0.2% earlier.
German shares rose for a sixth straight trading day as China's GDP came in line with the expectations and as investors await U.S. June retail sales report. The DAX Index added 0.6% to 8,261.25 as of 10:47 a.m. Frankfurt time, its highest level since June 19; moreover, the equity-benchmark gained 5.2% previous week. The HDAX Index increased 0.6% on Monday.
Brent crude advanced to almost $109 per barrel today as concerns about demand eased after data showed that China's economic growth matched expectations. Brent crude added 15 cents to $108.96 a barrel at 7:10 GMT, while U.S. oil gained 10 cents to $106.05, after touching $105.50 earlier on Monday.
German government bunds remained steady, with 10-year note yields approximately two basis points higher than the lowest level in over three weeks, ahead of the Netherlands and France sales treasury notes. German 10-year note yielded 1.56% and the 1.5% security maturing in May 2023 was at 99.495. The two-year bond yield was at 0.11%.
The metal-future prices advanced on weaker U.S. Dollar and easing concerns over the China's economy. The August Comex gold contract inched up $12.30 to $1,289.90 per ounce, after jumping 5.4% in the previous week, while silver for September settlement gained 24 cents to $20.04 per ounce. China's GDP increased 7.5% in the second quarter.
U.K. housing prices rose for a seventh straight month and it is predicted that home values will double the estimates this year, according to Rightmove Plc. The average cost for a house increased 0.3% to 253,658 Pounds and it is forecasted that prices will rise 4% instead of 2%. Values in London were little changed at a record high 515,379
The Australian Dollar appreciated as data indicated Chinese economy expanded 7.5% in the second quarter, in line with economists expectations. The Australian currency inched up 0.4% to 90.89 versus the U.S. Dollar, adding to signs it strengthened versus all of its 16 major counterparts, advancing the most against the Singapore Dollar and Swiss Franc.
Chinese shares advanced, prolonging previous week's gains, after its economy matched analysts' expectations and the government increased the access to China's markets for foreign investors. The Shanghai Composite Index gained 1% to 2,059.39 after rising 1.6% previous week. The CSI 300 Index added 1.4% to 2,307.30, while the Hang Seng China Enterprises Index slid less than 0.1%.
European stocks advanced as Chinese second quarter economic expansion data came in line with expectations. The European Stoxx 50 inched up 0.59% to 2,690.67 and the German DAX jumped 0.61% to 8,263.52. The French CAC 40 increased 0.76% to 3,884.39 and the U.K.'s FTSE 100 climbed 0.74% to 6,592.30.
Asian shares gained, with the regional MSCI Asia Pacific excluding Japan Index rising for the fourth day out of last five, after data showed that economy in China grew 7.5% in the year's second quarter, matching forecasts. The MSCI Asia Pacific excluding Japan Index climbed 0.2% to 439.95 at 2:31 p.m. Hong Kong time and it has slipped 5.8% this
The Euro block's currency was slightly lower as the U.S. Dollar rebounded after declining last week on Ben Bernanke's comments about maintaining bond purchases. The Euro retreated 0.14% to $1.3047 before the U.S. releases data today. The common currency remained steady at £0.8647 against the Sterling and at ¥129.66 versus the Yen.
The British currency was little changed versus the greenback as U.K. housing data showed that the prices have increased for a seventh straight month in July. The Sterling was at $1.5101 at 7:43 a.m. London time after falling to $1.4814 on previous Tuesday, the weakest since June 2010. The Pound traded at 86.47 pence per Euro and it touched 86.94
The U.S. Dollar held gains versus the Japanese Yen and the common currency from the end of previous week ahead of U.S. report on retail sales due today that may boost the case for the Federal Reserve to taper bond purchases. The greenback jumped 0.1% to 99.28 against the Yen and was at $1.3070 versus the Euro.
The U.S. Dollar gained against its major trading partners today despite lower-than-expected U.S. consumer sentiment. The greenback appreciated 0.31% to $1.3055 versus the 17-nation currency as Euro zone's industrial output data were negative. Versus the Japan's currency, it gained 0.29% to 99.23 on decision of Bank of Japan to maintain stimulus unchanged.
U.S. stocks gained little after the University of Michigan published consumer sentiment data for July. S&P 500 advanced 0.07% to 1,676.13 at 2:20 p.m. GMT, and Dow Jones Industrial Average rose 0.17% to 15,488.29. The consumer confidence report showed a decline to 83.9 from 84.1 in June, while experts' forecast was a climb to 84.7.
WTI futures rose after yesterday's decline as the greenback strengthened today. WTI futures for settlement in August gained 0.42% to $105.36 a barrel, while futures of Brent crude advanced 0.50% to $108.27 a barrel. Oil fell yesterday after a disappointing U.S. labour market report that showed unemployment insurance claims increased by 24,000.
India's factory output plunged surprisingly in May. It fell 1.6% from a year earlier, while the median estimate was for a 1.4% increase in output. Another report on inflation showed that the CPI increased to 9.87% in June from 9.31% in May. The Rupee appreciated 0.1% to 59.63 per Dollar. The S&P BSE Sensex gauge advanced 1.4%.
Copper retreated in New York amid signals Chinese government will adopt a further weakening of economic expansion, adding to worries about a stagnation in the world's largest metal consumer country. The September copper contract decreased 0.5% to $3.162 per pound. Copper for settlement in three months dropped 0.5% to $6,967 per metric ton.
The U.S. Dollar advanced versus the common currency as investors believe the Fed will withdraw expansionary policy sooner than the European Central Bank. The greenback gained 0.4% to $1.3039 per Euro as of 8:43 a.m. in New York after falling to $1.3207 yesterday, the lowest level since Jun 21. A report showed that American manufacturer prices climbed in June more
German government bunds inched up for the second day on speculation central banks globally will keep bond purchases, fueling demand for fixed-income securities. German 10-year bond yield declined five basis points to 1.57%, the lowest since June 19, and the 1.5% bond maturing in May 2023 jumped 0.455 to 99.345.
The Loonie dropped from yesterday's 3-week high as the U.S. bonds had 12 basis point yield advantage over Canadian debt. The Canadian Dollar decreased 0.2% to C$1.0385 per greenback at 7:57 a.m. Toronto time, while it hit C$1.0326 per Dollar yesterday. The Loonie declined as consumer sentiment in the States is expected to climb to a 6-year high.
The Australian currency traded moderately lower versus the Dollar on Friday, as the U.S. Dollar rebounds from the previous declines on comments from the Federal Reserve Chairman Ben Bernanke, who said the U.S. economy has not grew enough to allow the Fed to cut its bond purchase programme. The Aussie fell 1.72% to $0.9029 versus the U.S. Dollar, reaching the
West Texas Intermediate oil headed towards a third weekly advance, the longest period of climbs since May, and is expected to inch up next week on speculation the Fed will maintain bond purchases. The August WTI contract was at $104.79 per barrel and Brent for August delivery jumped to $107.75 per barrel.
London home prices helped to reach country's record high in June. House prices, over the country, grew 0.2% compared to May and 2.5% compared to last year, according to real-estate researcher's report. It has been 10 straight months with gains with the average price of 232,801 Pounds. For comparison, London's house prices have been two and a half times more