U.S. blue chips edged higher, as benchmark gauges touched their highest levels in five years after lawmakers voted to delay the country's borrowing limit. The Dow Jones Industrial Average surge 0.5%, or 67.12 points, to 13,779.33. Four out of nine groups advanced with technology shares rallying the most by 3%. The best performing blue chip was International Business Machines that
U.S. equities climbed after lawmakers decided to temporarily delay the federal debt-ceiling and technology shares surged on corporate profits that beat estimates. The S&P 500 index advanced 0.2% to 1,494.81. Five out of ten groups in the gauge increased with technology shares posting biggest gains. The latter sector improved, as Advanced Micro Devices, one of the largest processor maker for
India's Rupee declined the most in 2 weeks as the IMF revised down its global growth outlook. According to the IMF's statement, the world economy will grow 3.5% this year, compared to a 3.6% forecast in October. The Rupee weakened as much as 0.3% to 53.8150 per U.S. Dollar, the biggest decline since January 11.
Industrial metals, excluding copper, moved higher despite a strong downward pressure from global growth concerns. The IMF cut its forecast for global economy from 4.1% to 3.5% for 2013. Meanwhile, market players were cautious ahead of flash manufacturing data from China due on Thursday. Aluminum inched up as inventories at LME declined for the second session in a row. However,
Taiwan's Dollar forwards fell the most in a week amid speculation officials will curtail currency advance to prop up exporters. One-month non-deliverable forwards declined 0.2% to NT$29 against the U.S. Dollar. The contracts have been falling 0.3% this month. Taiwan's Dollar rose 0.3% to NT$29.018 against the greenback.
The South Pacific currencies gained against the Japanese Yen after data showed China's manufacturing activity accelerated at the fastest pace in 2 years, improving outlook for exports of commodities. The Australian Dollar advanced 0.4% to 93.94 yen, while it declined 0.4% to $1.0517 and fell 0.4% to NZ$1.2473. The kiwi climbed 0.9% to 75.32 yen and rose 0.1% to 84.31
Precious metals except for silver slid on Wednesday as stronger US Dollar after the Bank of Canada left its interest rates unchanged put heavy pressure on the commodity complex. The demand for greenback was further boosted after the IMF cut its growth forecasts. The IMF now expects the Eurozone's economy to contract 0.1% this year versus October's estimate of a
Japan's currency fell as improving manufacturing in China curbed demand for safety of the Yen, along with North Korea's test of nuclear weapons that damped investors' interest in region's assets. The Yen weakened 0.8% to 89.33 per U.S. Dollar after strengthening 1.7% during the previous 3 days. Japan's currency touched 90.25 on January 21, the lowest level since June 2010.
German shares stayed little unchanged prior to the U.S. House of Representatives vote to stem the nation's borrowing limit. By suspending the decision on the debt-limit, Republicans aim at meeting other deadlines to seek deeper spending cuts. The DAX index advanced 0.13% to 7,706.46, after earlier advancing as much as 0.4%. Five out of nine groups in the gauge
U.K. equities stayed flat on Wednesday close to their highest since May 2008 on better-than-expected unemployment data and Prime Minister's announcement to hold a referendum on exiting the European Union block. The FTSE 100 index advanced 0.2%, or 11.88 points, to 6,195.05, lifting its yearly advance to 5%. Five out of ten sectors in the gauge increased. Tullow Oil posted
Copper futures with settlement for three months were lower by 0.4% to $8,098 a metric ton on London Metal Exchange during Asian trading session on Wednesday. The metal price declined from a one-week high, as China's industrial companies announced that production jumped by 22% in December, making a new record. Also, total output increased by 11% in 2012.
Hong Kong stocks retreated as investors closed their positions on growth-sensitive outperformers. The Hang Seng index closed down 0.1% at 23,635.1 points after closing at the highest level on Tuesday. Five out of nine groups in the gauge edged lower with oil and gas sector posting biggest decline of 0.6%. China Merchants Holdings International slipped 4.23% to HK$27.20 and was
Switzerland's economic sentiment improved for the fourth time in a row as a sign of better times for the economy, however the majority of economists see the economic situation will remain unchanged in the next six-month period. The ZEW-CS indicator rose by 8.6 points to minus 6.9 points in the first month of 2013, compared to a figure of minus
The number of British people applying for unemployment benefits surprisingly decreased in December to the lowest level since the middle of 2011, the Office of National Statistics reported on Wednesday. The U.K. jobless claims declined by 12,100 in the last month of 2012 to 1.557 million, the lowest figure since June 2011, while the wider ILO measure fell also by
The Ruble strengthened by 0.1% to 30.2250 per U.S. Dollar by midday in Moscow trading session on Tuesday, after reaching a 30.1650 level, the strongest since 11th of May. The Russian currency versus the U.S. Dollar appreciates for a second day, as oil price has increased to a four-month peak and on government signals, that it is resisting for the
The Indian Rupee increased by 0.2% to 53.6925 per U.S. Dollar in early Mumbai trading session on Wednesday. The currency has touched a 53.3800 level yesterday, which is the strongest since 23rd of October. The Rupee appreciates, as the Indian Finance Minister said, that in next month will be revised economic-policy. The minister said that budget-deficit target is 4.8% of
The Euro Stoxx 50 Index futures were 0.2% higher to 2,720 points in early London trading session on Wednesday. That would lead to the Stoxx 600 increase, which this month increased in the highest level since February, 2011, on better-than-expected U.S. corporate earnings. Today, the U.S. lawmakers vote to suspend the debt ceiling at $16.2 trillion until 19th of May.
Japanese equities retreated, extending their losses for a third straight day, as the Yen appreciated after Bank of Japan announced it would launch open-ended stimulus package only after a year. The Nikkei 225 slid 2.1% to 10,486.99. All but one group in the gauge slumped. Nisshin Steel Holdings Co decreased 9.7% to 644 yen and prompted basic materials to erase
U.S. blue chips advanced with the Dow Jones Industrial Average slightly increasing. The Dow Jones Industrial Average gained 0.5%, or 62.51 points, to 13,712.21. All sectors except for consumer goods inched higher. Basic materials posted biggest gains in the index, as the shares of the mining company Alcoa Inc. jumped 2.68% to $9.20. UnitedHealth Group led gains in the health
U.S. shares advanced, as corporate profits from Companies, such as, Freeport-McMoRan Copper & Gold Inc. and Travelers Cos. beat the analysts' estimates. The Standard & Poor 500 climbed 0.4% to 1,492.51 points. All but one group in the gauge advanced. Technology shares posted the smallest increase in the index by adding 0.19%, as Seagate Technology rose 7.1%. Western Digital Corporation
The Yen rose 0.3% to 88.48 per U.S. Dollar and 0.4% to 117.74 versus Euro in afternoon of Tokyo trading session on Wednesday. Yesterday the Yen appreciated by 1% and that was the biggest currency's gain since May, 2012. The Japanese currency was traded positively on expectation that domestic inflation data will be lower than expected and will be as
Oil futures for March settlement were down by 12 cents to $96.65 a barrel on the New York Mercantile Exchange during Singapore trading session on Wednesday. The average volume was higher by 38% above the 100-day average and the price was traded close to the highest level since September, 2012. Oil was traded positively on speculation, that the U.S. will
The Australian Dollar, also called Aussie, slipped by 0.3% to $1.0535 in the end of Sydney trading session on Wednesday. The Aussie was traded pessimistically, erasing a two-day gain, as consumer prices increased less than expected and do not reached economists forecast. Consumer data brings pressure for the Reserves Bank of Australia to cut the key interest rate further.
Wheat futures for March settlement were lower by 0.8% to $7.7275 for one bushel on Chicago Board of Trade during Singapore trading session on Wednesday. Commodity traders were selling wheat, as rains might bring some relief to crops in the U.S., which are suffering from drought. Weather forecast, which say that some precipitation will be brought next week, pushed market