Chinese production gauge grew in January despite weaker demand from Europe. According to official statistics, purchasing managers' index rose from 50.3 in December to 50.5 in January. Analysts previously predicted the index to reach 49.8. HSBC Holdings Plc's separately estimated index climbed to 48.8.
17-nation currency depreciated against the US Dollar for the second consecutive session as Greece kept struggling to end debt talks. Euro lost ground also versus Yen ahead of Portuguese bond auction today on worries the country will need more financial aid. Euro slipped 0.1% against greenback to USD 1.3071 in Asian trade and lost 0.2% against Japanese Yen, touching JPY 99.59. Currently
Energy prices, excluding heating oil, decreased on Monday on the depreciating Euro against the US Dollar amid Greek debt restructuring talks. At the same time, colder weather in The US managed to back up heating oil price but failed to limit losses of the natural gas futures. Crude and Brent oil may seek support on the geopolitical risks as Iran
Agricultural commodities edged lower on Monday amid more favorable weather forecasts in South America. Corn was the top loser, falling by 1.56 over the day as expected rains in South America may lower the risk of essential decrease in global crops. At the same time, agricultural traders continued to eye developments over the Greek debt restructuring. However, Rabobank advices investors
Base metals, except for aluminium, fell on Monday as Greek debt talks and weak Euro dampened investors' sentiment in the industry metals. Aluminium, the only gainer, found support on the falling LME inventories and deficit on the market. At the same time, zinc tumbled by 1.16% as cancelled warrants have been constantly declining, hitting the lowest level among all LME
Precious metals tumbled on Monday amid firmer US Dollar and very slow progress over the Greece's debt swap. Weaker equities also created downward pressure on the precious metals' price. Despite slight loss, the yellow metal is likely to jump amid expected monetary easing in the US. Silver holdings at the largest silver backed exchange-traded funds decline while investors claim the
German DAX 30 index recovered after previous choppy session and jumped 0.9% on Tuesday, supported by financials and carmakers. The index got the upward momentum, after German national statistics office reported 20-year record low unemployment level for January. Commerzbank surged 3% and Deutsche Bank added 0.6%. Meanwhile, BMW AG gained 2.81% and MAN SE advanced 2.84%. On the downside Deutsche
US housing prices declined more than predicted in November, signalling slower recovery in nation's property market. S&P/Case-Shiller index fell 3.7% in November compared to previous year. Economists questioned by Bloomberg previously predicted a drop around 3.3%. Analysts suggest that relatively high number of foreclosures may keep further pressure on property prices.
Overseas shoppers from China and Brazil may fuel retail sales in US if government would ease the issuance of tourist visas for these countries. According to Obama plan, Chinese and Brazilian shoppers would boost tourism in US, create about 1.3 million new jobs and inject nearly USD 850B in country's economy by 2020. President has signed order requiring Department of Homeland Security
UK FTSE 100 index dropped 1% on Monday but sharply appreciated on Tuesday amid finalized EU fiscal discipline treaty and on hopes Greece is moving closer debt swap agreement. FTSE 100 climbed 0.7% lifted by energy shares amid surging oil futures. BP PLC added 2.6% and Petrofac Ltd. gained 2.2%. ARM Holdings PLC jumped 4.4% after posting an 11% increase
Japan's Nikkei Stock Average rebounded on Tuesday as Japanese industrial production output surged 4% in December, compared to predicted 2.8%. Gains, however, were limited as unemployment slightly increased to 4.6% in December amid appreciating Yen. Nikkei 225 index climbed 0.11% or 9.46 points and finished at 8,802.51, led by industrial sector. Fuji Heavy Industries Ltd. advanced 1.6%, while Hitachi Construction
Hong Kong's Hang Seng index recovered on Tuesday as EU countries approved fiscal discipline treaty and Japanese data showed higher than expected manufacturing output. Hang Seng index added 1.14% or 230.08 points and closed at 20,390.49, lifted by financials and coal miners. China Shenhua Energy Co. and Yanzhou Coal Mining Co. each added 1.5%, while Agricultural Bank of China Ltd.
Dow Jones Industrial Average Index extended losses on Monday as investors anticipated news that US consumer spending was unchanged in December amid surging Portuguese borrowing costs. However, the index recovered by the end of session and traded close to flat, edging down 0.05% or 6.74 points at 12,653.72. On the upside blue chip index was supported by Microsoft Corp. and
US S&P 500 Index maintained downward path on Monday, weighted down by investor concerns over indebted Portugal and Greece. S&P 500 closed 0.25% or 3.32 points down at 1,313.01. The index experienced a steep fall during the session but managed to erase most of losses as technology and telecommunication shares rose. Gannet Co and Staples Inc., were the main losers,
Jobless rate in Germany declined more than expected in January, reaching 20-year record low. The number of unemployed people fell by 34 000, reaching 2.85 million. Economists earlier predicted a decrease between 8000 and 10 000. The adjusted unemployment rate eased from 6.8% to 6.7% indicating Germany is moving towards better performance than rest of Euro Area nations.
The jobless rate in the Euro Area was 10.4% last month, unchanged from November, said Eurostat on Tuesday. The reading matched previously made predictions. The number of jobless people in the Euro region increased by 20 000, reaching 16.469 million in December. The unemployment level of 10.4% is the highest figure since January 1999.
Asian share markets closed mostly up on Tuesday, lifted by earnings reports and better than expected production output data from Japan. Japan's Nikkei Stock Average gained 0.1%, South Korea's Kospi surged 0.1% and Hong Kong's Hang Seng Index rallied 1.42%. Shanghai Composite Index added 0.33% while Australia's S&P/ASX 200 index was the only index which posted losses, ending 0.2% down.
UK consumer sentiment index climbed 7-month record high in January, lifted by slowing inflation which boosted consumption. British consumer confidence gauge increased by 4 points and reached minus 29 which is the strongest figure since June 2011. The outlook for personal finances and nation's overall economy also improved. Experts previously predicted the index to be at minus 31.
European share markets tumbled on Monday, led by resource and financial stocks as enduring Greece debt swap agreement and surging Portuguese bond yields boosted investor pessimism. Stoxx 600 index lost 1.1% to 252.52, while French CAC 40 index dropped 1.6% at 3,265.64. German DAX 30 and UK FTSE 100 index fell 1% each and finished at 6,444.45 and 5,671.09 respectively.
US markets opened lower on Monday and extended losses later in the day as investor worries about situation in Greece and Portugal accelerated. However, main stock indices managed to offset biggest drops lifted by technology and telecommunication shares. S&P 500 Index closed 0.25% or 3.32 points down at 1,313.01, Dow Jones Industrial Average Index traded close to flat 0.05% or
Canadian Dollar fluctuated against US Dollar on Monday and jumped against its major counterparts as struggle over second Greek rescue package boosted demand for safer assets. Loonie was little changed against greenback and traded at C$1.0015 in Toronto evening session. It appreciated against 14 of 16 its main peers. Currently USD/CAD is trading at C$1.0005.
South Korea's manufacturing output declined in December for a third straight month as European debt woe sapped demand for nation's exports and hit business confidence. South Korean output fell 0.9% in December from a month earlier when it lost 0.3%. In contrast, economists surveyed by Bloomberg predicted an increase of 1.1%. On yearly basis production grew 2.8%, the reading which also
New Zealand and Australian Dollars appreciated sharply on Tuesday as European officials signalled they have taken measures to end two-year debt crisis. Both South pacific currencies also were fuelled by positive news about Australian business confidence and an increase in home building approvals in New Zealand. Aussie strengthened 0.3% to $1.0632 and Kiwi climbed 0.5% to $0.8233. Currently AUD/USD is
US Dollar fell against its major counterparts on Monday after Greece's PM Papademos confirmed the progress has been achieved in debt talks with creditors. Greenback dropped 0.3% against Euro to USD1.3187 and 0.2% against Japanese Yen to JPY76.18. The Euro is likely to face the first monthly appreciation against US Dollar since October. EUR/USD currently is trading at USD1.3193 and