German investor sentiment tumbled for the fourth consecutive month in August, the ZEW economic institute said on Tuesday, adding to signs that the Eurozone crisis is worsening the outlook on Europe's largest economy. The indicator stood at -25.5 points from -19.6 in July, falling to its weakest level in 2012. The data significantly fell behind an estimate of a rise
Sweden's inflation weakened to 0.7% in July from 1% in preceding month, Statistics Sweden reported on Tuesday, while analysts forecast a rate of 0.8%. The CPI dropped 0.4%, compared to a 0.2% decline in June. Core inflation was 0.8% in July, while harmonized index of consumer prices posted a 0.7% rise on year.
Sweden's industrial output rose first in five months, opposing analysts' forecast of a further decline, preliminary data reported by Statistics Sweden on Tuesday. Industrial production surged 1.1% on year, compared to estimated 1.1% decline. Manufacturing production rose 0.8% from June, and mining and quarrying industry output increased 5%.
German Bunds declined for a second day as a report posted Germany's GDP fell less than estimated in the second quarter, diminishing demand for safer assets. The 10-year bond yields gained to 1.44%. The price for 1.75% security due in July 2022 dropped 0.36 to 102.82. The two-year bond yield was little changed at -0.038%, after reaching a record low
U.K. inflation rose unexpectedly in July first in last four months as airfares surged and there was some development of early summer discounts in clothing stores. CPI climbed 2.6% on year in July, after a 2.4% rise in June, as reported by the Office for National Statistics on Tuesday. Analysts expected a 2.3% increase. The pound prolonged its gain versus
Hong Kong stocks advanced, lead by the benchmark index reaching its first gain in three days, before the U.S. retail sales report forecast to show demand is rebounding in the world's largest economy. On Tuesday, the Hang Seng Index rose 0.2% to 20,130.15. The S&P 500 Index climbed 0.1%.
France's GDP unexpectedly avoided the first quarterly decline in three years as both government and companies increased spending. GDP stagnated in the second quarter from the first, the Insee reported on Tuesday, while economists estimated a 0.1% contraction. Gross Fixed Capital Formation gained 0.6%. Public sector expenditure rose 0.5%. GDP climbed 0.3% on year.
Switzerland's producer and import prices tumbled at a lower pace for the second straight month in July, the statistical office announced on Tuesday. The producer and import price index dropped 1.8% on year, after a 2.2% fall in June. Analysts estimated a 1.7% decline, but the drop still was the smallest since July 2011, when it posted a 0.6% fall.
Oil rose, cutting two days of falling, amid speculation stockpiles decreased last week in the U.S., the world's major crude consumer. On Tuesday, futures climbed 0.6% before tomorrow's report expected to show U.S. crude and fuel inventories dropped for a third week as refiners traded near the five-year high rates. September-delivery oil rose 55 cents to $93.28 per barrel.
The Euro rose the most since Aug. 3 against the U.S. Dollar as Italy's bills' sales weakened concern countries in Eurozone may not access the debt markets. On Tuesday, the Euro advanced 0.4% to $1.2332, after earlier 0.2% decline on ECB Governing Council member Luc Coen saying bond buying won't solve Italy's and Spain's difficulties. The Euro gained 0.4% to
Australia's business confidence index advanced to +4 points in July, compared to -3 in previous month, while business conditions index dropped to -3 points from -1 in June, National Bank of Australia said on Tuesday. The Aussie traded 0.35% down versus the U.S. Dollar and closed at 1.0518 yesterday.
The British Pound weakened against the shared currency after BOE Governor Mervyn King said the Eurozone sovereign debt crisis is still hindering Britain's economy. Sterling fell 0.4% to 78.64 pence per Euro, after falling as much as 0.5%. The Pound was little changed at $1.5692, after gaining 0.3% versus the U.S. Dollar.
Most Asian stocks advanced as minutes of the BOJ's meeting indicated that officials are considering ways to expand stimulus, and before data on the U.S. retail sales which might show that demand is recovering. The MSCI Asia Pacific Index climbed 0.1% to 120.27. Australia's S&P/ASX 200 Index rose 0.3%, while South Korea's Kospi Index increased 0.7%.
The Canadian Dollar weakened for the first time in six days versus the U.S. Dollar as commodities declined and crude oil fluctuated after reaching $93 a barrel last week. The Loonie lost 0.2% to 99.26 cents per U.S. Dollar after touching 99.05 cents. Government bonds declined, pushing 10-year note yields to 1.80%.
The Japanese Yen edged lower against all 16 most-traded counterparts on rally of Asian shares and minutes of BOJ's July meeting, which indicated that officials are considering expanding stimulus. The Yen extended its second day decline against the common currency as equities gains curtailed demand for safe haven assets. The Yen dropped 0.1% to 78.42 per U.S. Dollar, while fell
U.K.'s property prices posted a biggest fall in a year through July, and analysts don't expect the outlook to improve during the next 12 month, the Royal Institution of Chartered Surveyors said on Tuesday. RICS reported housing price balance dropped to -24 in July from -22 in preceding month, the figure shows the difference between surveyors reporting a price fall
On Monday, August 13, Michael Fuchs, which is the senior member of Angela Merkel's party sent a strict warning to Greece, saying that Greece will not get financial help, in case they do not meet the conditions of nation's bailout. Meanwhile, the "troika" is to decide in September, whether to give Greece another tranche, from the financial bailout package, of total value of 130 billion
European stocks turned lower on Monday, as decelerated Japan's economy outweighed increased demand for Italian bonds. The Stoxx 600 Index tumbled 0.4 percent to 268.72, after ten weeks of gains. At the same time, the U.K.'s FTSE 100 was down by 0.3 per cent, German's DAX Index retreated 0.5 per cent, while France's CAC 40 Index and Italy's FTSE MIB Index erased 0.3 per cent
The U.S. stocks were under pressure on Monday, August 13, after five-week rally, as Japan's fundamentals worsened, with GDP adding only 0.3 per cent in the second quarter. The Dow Jones Industrial Average erased 0.5%, to 13,147; the Standard & Poor 500 Index dropped 0.4% to 1,399.63, and the Nasdaq Composite tumbled 0.5%, to 3,007.6.
German shares moved higher on Monday amid hopes that the ECB will loosen its monetary policy in view of weakening global economy. An unexpected increase in German wholesale price index provided support for Germany's stocks. German DAX Index rose by 0.34% to trade at 6,968.44 at 12:00 GMT. Seven out of nine sectors within the index advanced. The top-performers were
FTSE gained 0.01% on Monday to trade at 5,847.89 despite signs of deepening global recession. On Monday, Japan reported slower than expected GDP growth pace in Q2. At the same time, speculation that the ECB is ready to take measures to ease economic slowdown in the Eurozone spurred UK stocks. The largest gainers among industries were financial and consumer services
Hong Kong shares posted the largest drop in a month on Monday. China's growth concerns coupled with weak quarterly results pushed equities lower. On Monday, Bank of America reduced China's 2012 growth forecast to 7.7% from 8%. Moreover, hopes for easing measures started to vanish as real estate prices moved up. Hang Seng Index ended the trading session 0.27% lower
Rural commodities tumbled after USDA global supplies report. Better weather conditions in Brazil and US also sent farm commodities lower. From the demand side, high grain prices threaten to cap consumption. Wheat was the top-loser as USDA upgraded US domestic production forecast, citing brighter production prospects in northern states. At the same time, global output is set to fall 4.7% as
Japanese stocks moved lower as the nation's economy grew less than expected in Q2 amid weak consumer spending. Meanwhile, traders continued to anticipate key economic data releases from the US due this week. Nikkei 225 Index lost 0.07% to close at 8,885.15. Sectors included in the index were mixed; six sectors followed downward trend while four industries managed to climb.