New home sales in the U.S. dropped unexpectedly in the month of December despite an improvement of longer-term trend, the U.S. Commerce Department reported on Friday. New single-family homes declined 7.3% from a November's revised level of 398,000 to a seasonally adjusted 369,000 in December, while economists expected the new home sales to rise to 388,000."2012 was the first year
The British economy slowed down more than economists expected in the last quarter of 2012 as oil production in the North Sea fell, quarrying and mining output declined and as the Olympic games boost slumped, pushing the economy into a "triple-dip" recession. The UK's gross domestic product shrank 0.3% in the Q4 compared to a 0.1% fall initially estimated."There are
U.K. equities stayed flat, retreating from their earlier gains this week, after data on the economy showed that it shrank in the last quarter, indicating a possibility that the company might fall into a triple-dip recession. The FTSE 100 index advanced 0.1% to 6,272.58. Seven out of ten groups in the index advanced with telecommunication shares rallying the most by
Business confidence in the Europe's largest economy advanced above expectations of economists in January suggesting that the country's economy is recovering from a decrease the last month, the Ifo Business survey revealed on Friday. The Ifo Business Climate Index for German industry and trade advanced for the third consecutive month from a 102.4 in December to 104.2 in January, its
German equities advanced reaching their five-year high, as business confidence advanced more than expected in January and ECB released data indicated that banks will repay more than forecast long-term operation loans. The DAX index rose 1.3% to 7,847.91, its highest in five years. All but one group in the index advanced. Bayer AG posted biggest gains of 5.8%, as the
Hong Kong blue Chips extended their losses, as the Hang Seng index went 0.1% down this week. The stocks fell as investors closed their positions on outperformers. The Hang Seng index slid 0.1% to 23,580.4 after closing at its 20-month high on Tuesday. Four out of nine groups declined n the gauge. Hengan International, which manufactures and sells personal
Japanese equities edged higher hitting a 32-month high as the national currency kept declining versus the greenback after investors became more optimistic on the new government's plans to boost Japan's economy. The Nikkei 225 index rallied 2.9% to 10,926.67, as the country's government pledged the yen to continue weakening. All but two groups in the gauge edged higher with
Rural commodities except for corn retreated on Thursday on expectations of a decline in the US grain exports. Meanwhile, ample global supplies weighed on softs. Solid greenback and better weather conditions in the US also pushed farm commodities lower. Wheat declined on easing concerns over persistent drought in the US Great Plains. Experts predict the US winter wheat area to
Energy futures except for natural gas were bullish after a release of the EIA inventory report. The market sentiment was further boosted by better-than-expected flash PMI readings in the US, China and Europe. Crude oil rose despite larger-than-expected increase in the US inventories. The EIA reported US stockpiles climbed by 2.8 million barrels last week versus an expected 1.9-million-barrel jump. Brent
Base metals were mixed on Thursday amid positive flash PMI releases from China, the US and Europe. Supporting the commodity complex, US lawmakers temporary lifted the US debt ceiling until May. At the same time, stronger US Dollar and profit taking after Wednesday's rally sent industrial metals lower. Aluminum was steady, balancing between record high LME inventories and higher cancelled
Most U.S. blue chips advanced, sending higher the Dow Jones Industrial Average after better than expected jobless data was posted and companies mostly reported corporate earnings that beat the estimates. The Dow Jones Industrial Average surged 0.3%, or 46 points, to 13,825.33. Only three out of nine groups declined with telecommunications pairing biggest losses caused by Verizon Communications
Precious metals apart from palladium dropped on Thursday amid profit taking and broadly stronger US Dollar. Additionally, encouraging reports from China as well as a potential fall in physical demand from India after the government raised import duty from 4% to 6% created heavy pressure on the commodity group. Gold declined for the second consecutive session as a recent increase in
Most U.S. equities advanced amid unexpected slump in unemployment claims and earnings that beat the estimates, offsetting the biggest drop for Apple since 2008. The S&P 500 index closed unchanged at 1,494.82 after earlier gaining 0.5%. All but two groups in the gauge edged higher. The best performing blue chip in the gauge was Netflix with its shares rallying 42%
Most Asian shares increased as decrease in Japan's consumer prices raised pressure on the Bank of Japan for more stimulus. The MSCI Asia Pacific Index gained less than 0.1% to 131.79 at 12:50 p.m. in Tokyo. Japan's Topix rose 1.8 today, poised for the 11th weekly winning streak, the longest since January 1973. Australia's S&P/ASX 200 Index added 0.4%, while
South Korea's Won dropped to a one-month low as foreign funds increased sales of local stocks, and amid political concerns after North Korea statement of nuclear weapon test. The Won weakened 0.1% to 1,069.55 per U.S. Dollar at 10:24 a.m. in Seoul, after touching 1,070.95 earlier, the lowest level since December 28.
Australia's Dollar strengthened against the Japanese Yen for a second straight day amid speculation pressure will mount on the BOJ to add monetary stimulus as core consumer prices fell last month. The Aussie gained 0.2% to 94.56 yen at 4:42 p.m. Sydney time. The currency weakened to $1.0439, the lowest level since January 4, before trading at $1.0451.
The Japanese Yen set for the longest weekly losing streak versus the U.S. Dollar on data that showed a decrease in consumer prices, raising possibility of further monetary measures from the nation's central bank. The currency lost 0.2% to 90.50 per greenback as of 1:44 p.m. Tokyo time after earlier trading at 90.69, the lowest level since June 21, 2010.
U.S. existing home sales went down surprisingly in the last month of 2012 despite an increase of total sales in 2012, which reached its highest level in a five-year period, the National Association of Realtors reported on Tuesday. The reports showed a 1.0% fall of existing home sales to a figure of 4.94 million in December compared to 4.99 million
U.S. jobless benefits claims dropped unexpectedly in the week ended January 19 reaching its lowest level since January 2008, the Labor Department showed in a report on Thursday. The report said the number of applications for unemployment benefits declined by 5,000 to 330,000 last week, the lowest figure in five years, compared to economists predictions of 355,000 claims."The swings are
Output of private sector in Germany increased in January hitting its twelve-month high as the service activity has the biggest impact rising at the fastest pace since June 2011, while manufacturing production grew slightly in January. Markit Flash Germany Composite Output Index added 3.3 points as it rose from 50.3 in December to 53.6 in January."The euro dipped on French
The number of mortgage approvals in the U.K. rose in November to its highest level in a nine-month period, suggesting that the home loan market is going through stabilization, the British Banker's Association reported on Thursday. Mortgage approvals rose from 33,634 in October to 33,128 in November, while the gross mortgage lending reached 7.7 billion pounds.Households "continuing to repay virtually
Hong Kong equities retreated extending their losses for a second straight day, as the Apple's suppliers were hit after the most valuable company in the world posted lower-than-expected revenue. The Hang Seng index declined 0.2% to 23,598.9. Four out of nine groups in the gauge declined with telecommunications pairing biggest losses, as the shares were 2.26% down. China Unicom stocks
Asian shares were volatile as Japan's stocks rose on a weaker Yen, China's PMI data and North Korea's nuclear weapons test. The MSCI Asia Pacific Index fell 0.1% to 131.90, following a 0.1% gain and 0.4% decline. Hong Kong's Hang Seng Index slid 0.3%, while China's Shanghai Composite Index fell 1.1% after jumping 1.8% earlier. Japan's Nikkei 225 Stocks Average
Farm commodities were divided on Wednesday, with softs moving higher and grains slumping. Lower coffee and sugar prices attracted new buyers thus sending softs higher. At the same time, weak demand for risky assets after the IMF lowered its global growth forecast put notable pressure on grains. Wheat gave back some of the previous gains on speculation that the southern US