British FTSE 100 index tumbled on Monday, weighed down by disappointing manufacturing data from China amid political worries over France and the Netherlands. Banking sector contributed significantly to the downside with Lloyds Banking Group tumbling 3.2% and Royal Bank of Scotland Group plunging 4.4%. Miners were also falling as Vedanta Resources lost 6% and Rio Tinto shed 5.2%. At the
Japan's Nikkei Stock Average extended a drop on Monday as as utility stocks fell on public resistance to nuclear power and shipping firms declined on weaker than expected earnings. Nikkei 225 index fell 0.2% or 19.19 points and closed at 9,542.17. Kansai Electric fell 4.2% and Tokyo Electric Power dropped 2.5%. Export shares were negatively affected by weaker Yen as
Hong Kong's Hang Seng index tumbled on Monday as HSBC reported showed the manufacturing activity in China kept contracting in April and investors remained cautious before the final round of French presidential elections. Hang Seng index fell 1.84% or 386.25 points and settled at 20,624.39 with only two companies ending in green area. HSBC Holdings declined 1.8% and China Life
Dow Jones Industrial Average index appreciated on Friday lifted by Microsoft Corp earnings report amid strong business confidence data in Germany. Blue chip index surged 0.50% or 65.16 points and closed at 13,029.26 with eight of nine sectors posting gains. Microsoft rallied 5.2%. The world's biggest software producer posted fiscal 3rd-quarter net income that surpassed estimates on higher-than-predicted sales of
S&P 500 index rose on Friday as better than forecast earnings erased losses from global worries. US benchmark index gained 0.12% or 1.61 points and finished at 1,378.53.Among other firms that announced results, Morgan Stanley gained 1.2% after outperforming estimates and reporting share and bond-trading income that climbed more than at any other leading US bank. Citigroup added 1.4% as
Current President Nicolas Sarkozy and Socialist Francois Hollande have entered the second round of France's presidential election and will compete on the final round due May 6. Hollande got 28.6% of the vote versus 27.1% for Sarkozy, the Interior Ministry reported on Monday Le Pen took 18.1%. French bills and Euro weakened today.
Asian stocks traded lower on Monday as HSCB data showed Chinese production activity improved but stayed below 50, indicating persisting contraction in manufacturing. Hong Kong's Hang Seng Index fell 1.8%, China's Shanghai Composite lost 0.8% and Australia's S&P/ASX 200 index slipped 0.3%. Japan's Nikkei Stock Average shed 0.2% and South Korea's Kospi gave up 0.1%.
US shares ended mostly in the positive territory on Friday as better than forecast earnings erased global worries. S&P 500 Index added 0.12% or 1.61 points and finished at 1,378.53, Dow Jones Industrial Average surged 0.50% or 65.16 points and closed at 13,029.26 while Nasdaq Composite fell 0.24% or 7.11 points to 3,000.45 weighed down by Apple shares.
Chinese production activity continued to fall in April, reported HSBC on Monday. The HSBC's preliminary figure of China's PMI soared to 49.1 in April from 48.3 in March. Although the activity has increased compared to March, it still is below 50, indicating contraction. Hongbin Qu, HSBC China chief economist claimed that better reading signals the previous State easing measures start to work. He also added,
Crude oil price dropped from the three-day record high after crude demand from China fell to the lowest figure in 5 months. Oil to be delivered in June lost USD 0.74 to USD 103.14 per barrel while June Brent oil fell 0.4% or USD 0.46 to USD 118.30 per barrel. According to Bloomberg estimates, Chinese oil demand weakened to 9.51
Euro Region debt climbed last year reaching the record high since the introduction of shared currency as governments boosted borrowing in order to restrict national deficits and finance bailouts. The total debt of 17 countries surged to 87.2% of GDP in 2011 compared to 85.3% of GDP in 2010. Greece was leading debtor with 165.3% of GDP whereas Estonia possessed the least
Shared currency's region production output and services contracted more than expected in April, as the Euro Zone struggled to recover from a 2011 last quarter's slow down. The Euro Area PMI dropped to 47.4, reaching a five month record low, compared to 49.1 in March, Markit Economics reported on Monday. Analysts had expected an improvement to 49.3. A figure below
Rural commodities caught momentum on the expectation for strong China's demand and slightly better situation in the Euro Zone. Sugar retested 10-month low as improving weather conditions in top-producers of the sweeter and additional Indian exports created pressure on the commodity. The sweetener may seek support on the increased bargain buying.Wheat rebounded after sharp fall during previous sessions as low
Energy markets balanced between easing supply concerns and more pessimistic demand outlook. Investors are cautious ahead of the Fed meeting due next week.Crude oil tumbled amid lingering demand worries after poor US manufacturing and labour market data. However, faster than expected reversal of the Seaway pipeline erased some losses of the commodity.Brent oil was steady after pervious slump as rick-appetite
Industry metals managed to climb despite weak US industry data as news on further China's easing bolstered the base metals pack.Aluminum was the top-gainer amid indication of fresh liquidity pumping in Japan and China.Copper followed bullish trend as the red metal was lifted by inspiring news from China and Japan. However, disappointing US economic data and elevated inventory levels at
Precious metals found support on the escalating concerns over the US economy that may stimulate new round of quantitative easing in the country.Gold was marginally higher amid persistent Euro Zone's debt woes and anxiety over the US labour market and industrial activity.Silver gained momentum from rumour about France credit rating downgrade and speculation that Netherlands were placed on a negative
Japan's Nikkei Stock Average slightly declined on Friday as investors gathered news from US. Losses were limited as depreciating Yen provided support for most exporters. Nikkei 225 index slipped 0.28% or 27.02 points and closed at 9,561.36. Olympus rallied 6.4% after the camera producer's shareholders elected new management led by ex-banker Yasuyuki Kimoto. JFE Holdings tumbled 3.3% despite reporting it
Hong Kong's Hang Seng index traded almost flat on Friday as early losses were erased by investor hopes for soon monetary easing from POBC. Hang Seng index added 0.07% or 15.63 points and closed at 21,010.64. AIA Group gained 0.35% after insurer posted a 27% improvement in the value of its new business during the 1st quarter. On the downside
Dow Jones Industrial Average index declined on Thursday amid weaker Philadelphia manufacturing index and persisting concerns about Spain. Blue chip index shed 0.53% or 68.65 points and closed at 12,964.10 with 27 of 30 companies posting losses. On the upside The Travelers surged 3.8% after a strong earnings report. Alcoa and DuPont Co. each dropped 1.2%, as traders sold stocks
S&P 500 index extended losses on Thursday as weaker than expected macroeconomic data including jobless claims and existing home sales erased gains from better earnings reports. US index lost 0.59% or 8.22 points and finished at 1,376.92. Ebay rallied 13% after its profits and sales results beat analyst predictions. On the downside Apple Inc fell 3.4% after Verizon Communications said
Asian markets traded mixed on Friday as losses from disappointing US data were partly offset with signals of monetary easing. Japanese Nikkei 225 index dropped 0.3%, South Korea's Kospi sank 1.3% while Australian S&P/ASX 200 added 0.1%. Hong Kong's Hang Seng index gained 0.1% and Shanghai Composite advanced 0.1%.
Canadian currency fell against its US counterpart for a second straight day as the number of unemployment claims declined less than expected, harming willingness to purchase assets linked to growth. Canada's Dollar depreciated 0.5% versus greenback to CAD 0.9957 on Thursday. Currently USD/CAD is trading at 0.9945.
US stocks traded lower on Thursday as data showed jobless claims fell several times less than predicted, while manufacturing activity in Philadelphia slowed and existing home sales declined. S&P 500 index lost 0.59% or 8.22 points and finished at 1,376.92, Dow Jones Industrial Average index shed 0.53% or 68.65 points to 12,964.10. Nasdaq Composite gave up 0.79% or 23.89 points
European markets traded in negative area on Thursday on speculation France might be downgraded by Fitch (later denied). Despite successful bill auction, Spanish borrowing costs climbed adding pressure on stocks. Further decline was fuelled by several weaker macroeconomic data from US. Stoxx Europe 600 dropped 0.5%, French CAC slipped 2.1% and German DAX declined 0.9%. In contrast FTSE 100 traded flat.