UK stocks are trading higher on Tuesday after upbeat reading of German ZEW Economic Sentiment index. The FTSE 100 Index added 0.41% to trade at 6,343.83. Eight out of ten industries jumped. Consumer goods and financials led gains. Associated British Foods and Reckitt Benckiser Group soared 1.71% and 1.58%, while Standard Chartered and Aberdeen Asset Management rose 3.09% and
Hong Kong shares tumbled for the second consecutive session on Tuesday amid concerns that an increase in property prices will lead to fresh restrictions on the housing market. The National Bureau of Statistics reported that the average home price increased for a fifth month in line in December whereas investment in real estate surged by annualized 16.2%. The Hang Seng
Australian shares traded higher on Tuesday amid mixed earnings results. Meanwhile, uncertainty over whether the RBA will cut rates further this year weighed on stocks. In the minutes released today, the RBA stated it will wait to see more results of its loose monetary policy to decide whether more rate cuts are necessary in 2013. The S&P/ASX 200 Index gained
Japanese equities slumped on Tuesday amid profit-taking after previous rally. Moreover, broadly stronger yen sent exporters lower thus putting additional pressure on Japanese stock average. Meanwhile, investors' attention remained on the forthcoming naming of the new governor of the BoJ. The Nikkei 225 Index fell 0.31% to close at 11,372.34. Only three industries included in the index moved higher. The
Brazilian stock market closed in red for the fourth session in a row on Monday amid concerns over domestic economy. The survey conducted by the central bank of Brazil showed that the GDP is expected to rise 3.08% and 3.65% in 2013 and 2014, compared to estimates of 3.09% and 3.8% a week earlier. The Bovespa Index lost 0.50%
Farm commodities declined during the last five trading days amid worries over ample global supplies and weak demand for US grains. Updated weather forecasts suggesting rains in Argentina and the US Great Plains also added pressure. Wheat dropped as expectations for snow in the US Great Plains removed supply risk premium. However, wheat futures may climb on speculation that US farmers
Energy futures apart from natural gas finished in red on Monday as market participants shunned riskier assets after weak US industrial production data released on Friday. Fears over deepening recession in the Eurozone also weighed. Restricting the downswing, JODI data showed Saudi Arabia's output reached a 19-month low of 9.03 million barrels per day in December. Crude oil moved lower amid
Industrial metals were bearish on Monday amid weak appetite for growth sensitive assets. The risk sentiment remained weak after the data last week showed the Eurozone's and Japan's economies performed worse than expected in the last quarter of 2012. Aluminum retreated from a six-week high on concerns that Chinese investors who returned after holidays will start selling the lightweight metal.
Precious metals except for gold advanced on Monday amid hopes the Fed will continue its loose monetary policy as Ben Bernanke said on Saturday that the US economy still faces downside risks. Moreover, persistent supply concerns lent additional support for platinum and palladium. Gold was the only loser, being pressured by solid greenback. At the same time, speculation that physical
Australia's Dollar strengthened versus major counterparts in early Asian trading session after the minutes of the RBA's latest meeting showed sturdy demand for commodities and improved global outlook have contributed to expansion in economic activity. The Aussie touched the highest level in 4 days at 1.0333 versus the greenback, jumping 0.24%.
Japan's leading indicator of the nation's economy posted a substantial increase in December and appeared to be in line with economists' expectations, data released by the Cabinet Office showed today. The leading index rose to 93.4 in December from a revised down 92 in the precedent month. Meanwhile, the coincident economic index that evaluates the current situation inched up to
Norwegian consumer confidence improved further in the first quarter, according to data published by the Finance Norway and TNS Gallup today. After reaching 24.4 in the Q3 and 26 in the last quarter of 2012, consumer confidence index increased to 27.1. Households appeared to be more upbeat about the country's economy during the past 12-month period, with the sub-index jumping
Asian shares gained, with the regional benchmark index set for the highest close in 18 months, as Bridgestone Corp. rose on better-than-estimated profit forecast, while the Japanese Yen's strength put pressure on exporters. The MSCI Asia Pacific Index added 0.1% to 133.92 at 1:34 p.m. in Tokyo. Japan's Nikkei 225 Stock Average declined 0.4%, while Australia's S&P/ASX 200 Index rose
New Zealand's Dollar weakened versus its major counterparts as reports showed that Chinese quarantine administration has destroyed milk powder for 3 different brands imported from the South Pacific country. The kiwi depreciated 0.1% to 84.40 U.S. cents at 4:23 p.m. in Sydney and declined as much as 0.5% to 79.06 yen.
German equities moved higher on Monday, recovering after sharp losses on Friday. Meanwhile, market players are cautious ahead of Mario Draghi speech scheduled later in the day. Weaker-than-expected reading of the Eurozone's current account capped gains in German stocks. The DAX Index added 0.12% and is currently trading at 7,602.30. Six out of nine industries advanced. The top-performers were utilities
UK stocks are trading in the red area on Monday ahead of the ECB President Mario Draghi speech due later in the day. Fears over deepening recession in the Eurozone continued to weigh on UK equities. The FTSE 100 Index slumped 0.19% to trade at 6,316.43. Only two in ten industries climbed. Utilities and consumer goods were the only gainers,
Palm oil appreciated on Malaysia, the second-largest supplier after Indonesia, may increase exports in February before imposition of a tax in March. April-delivery palm oil advanced 1.5% to 2,519 ringgit ($813) a metric ton in Malaysia. Last week palm oil futures fell 3% to 2,483 ringgit a metric ton, the weakest level at close since January 29. The tax of
Hong Kong shares dropped on Monday, tracking losses in China's mainland's markets that re-opened after a long Lunar New Year holiday. However, strong performance of Japanese counterparts supported Hong Kong equities. The Hang Seng Index dipped 0.27% to end the session at 23,381.94. Only four in nine sectors included in the index posted gains. Industrials and consumer services advanced the
Japanese stocks soared on Monday after Japan escaped a criticism by G20 of its aggressive monetary easing measures. The gains also came ahead of naming the BoJ new governor that is expected to happen this weekend. The Nikkei 225 Index jumped 2.09% to close at 11,407.87. All industries within the index rose. The top-performers were financial and technology shares. Among
Dow managed to close in the positive area on Friday amid mixed US data. US industrial production unexpectedly slumped last month, while US consumer confidence rose more than expected in January. Speculation that the Fed may stop its accommodative monetary measures also weighed on the US equities. The Dow Jones Industrial Average Index added 0.06% to end the week at
US equities closed lower on Friday after the Fed Chairman speaking at G20 meeting stated that US economy is recovering. These comments were perceived as hint that the Fed may stop its bond-buying program, creating a downward pressure on risky assets. The S&P 500 Index lost 0.11% to close at 1,519.79. A half of the industries included in the index
Aluminum in London showed the biggest decline in 3 weeks on reopening of markets in Shanghai after a week break and on supplies from China are forecast to increase. May-delivery aluminum dropped 1.2% to $2,143 a metric ton in London, the biggest loss since January 25, after reaching $2.174 a metric ton on February 15, the strongest level in six
The seasonally adjusted current account of the euro area recorded a surplus of €13.9 billion in December 2012, after plummeting from €15.9 billion the previous month. The trade surplus is welcomed in the Eurozone, because it indicates that region's exports outweigh imports, which theoretically should provide an increase in its economic output.Taking into account the whole 2012, net inflows of
The Pound declined to the weakest level against the U.S. Dollar since July 13 on Martin Weale, policy maker of BOE, announced the U.K. exports may increase if Sterling depreciates. The U.K. currency fell versus 13 of 16 main counterparts, extending last week's decline. The Pound lost 0.3% against the U.S. Dollar and traded at $1.5474, following decline to $1.5438,