U.K. trade balance widened to -ВЈ9.8 billion in September from -ВЈ8.6 billion in August, as imports surged while exports barely grew, said the Office for National Statistics on Wednesday. Economists expected trade balance to narrow to -ВЈ8.0 billion.
U.S. month on month wholesale inventories declined 0.1 percent in September for the first time since December 2009, said the Census Bureau on Wednesday. Economists expected the reading to advance 0.5 percent, after 0.1 percent increase in August.
Italian Prime Minister Silvio Berlusconi vowed to resign after Parliament agrees to pass austerity measures, as yields on government bonds rose to record highs, fueling worries the country may lose access to financial markets.
After LCH Clearnet SA increased deposit necessary for trading Italian bonds, 5-year bond yields jumped to 7.5%, exceeding those of 10-year bonds. PM Berlusconi's resignation offer left current government with tackling austerity measures in order to decrease costs of borrowing.
Japanese stocks declined on Tuesday amid uncertainty over the situation in Italy and after Olympus Corporation said it paid inflated fees to advisers to hide losses. The Nikkei 225 lost 1.27%, or 111.58 points, to 8,655.51, while the broader Topix decreased 1.66%, or 12.42 points, to 738.03.
Swiss stocks rose on Tuesday as investors expect Italian Prime Minister Silvio Berlusconi to step down after he lost governing majority. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, advanced 0.65%, or 36.69 points, to 5,682.65. The broader Swiss Performance Index declined 0.62%, or 32.11 points, to 5,175.45.
Manufacturing output in U.K. advanced for the first month in four, said the Office for National Statistics on Tuesday. Output rose 0.2 percent in September, compared to August, when it decreased 0.3 percent.
An indicator of economic optimism edged higher to 40.6 in November from 40.3 in October said Investor's Business Daily and TechnoMetrica Institute of Policy and Politics on Tuesday. A reading above 50.0 indicates optimism; below 50.0 indicates pessimism.
Italian Prime Minister Silvio Berlusconi lost governing majority in a key vote on Tuesday, fueling calls for him to step down as the country risks to lose access to financial markets after yields on government bonds rose above 6 percent.
Bearing in mind Italy's high level of debt (EUR 1.9T) combined with near-zero growth rate, investors believe it could potentially become the next victim of sovereign debt crisis despite a rather low budget deficit. Meanwhile, European flagman Germany has reached EUR 15.3B trade balance in September amid forecast of 12.9B.
Japanese stocks declined on Monday amid uncertainty over the new government in Greece and rising yields in Italy. The Nikkei 225 lost 0.39%, or 34.31 points, to 8,767.09, while the broader Topix decreased 0.21%, or 1.57 points, to 750.45.
Swiss stocks declined on Monday amid concerns Italy is next to suffer from the debt crisis as the country's yields rose to record highs. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, declined 0.25%, or 13.87 points, to 5,645.96. The broader Swiss Performance Index slid 0.20%, or 10.31 points, to 5,143.34.
U.K. house prices increased for the first month in three to an average of 163,311 pounds, said the Halifax Bank of Scotland on Monday. Prices rose 1.2 percent in October, compared to September, when they declined 0.3 percent.
President of the Federal Reserve Bank of Boston, Eric Rosengren, said the central bank should take action to decrease "stubbornly, and unacceptably, high" unemployment rate, which remains unchanged near 9 percent since April 2009.
Greek leaders agreed to form a unity government with Lucas Papademos, a former deputy head of the European Central Bank, as a possible prime minister to ensure outside financing and prevent a breakdown of the nation's economy.
Japanese stocks gained on Friday after the European Central Bank decreased interest rates and Greek officials disagreed over referendum. The Nikkei 225 advanced 1.86%, or 160.98 points, to 8,801.40, while the broader Topix rose 1.82%, or 13.44 points, to 752.02.
Swiss stocks declined on Friday ahead of confidence vote and after world leaders failed to reach a consensus on enlargement of the International Monetary Fund. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, lost 0.29%, or 16.16 points, to 5,651.89 at 4:08 PM CET. The broader Swiss Performance Index dropped 0.46%, or 23.77
Royal Bank of Scotland, U.K.'s largest government-controlled bank, announced lower than expected pre-tax profit of 2 billion in third quarter 2011, as sovereign debt crisis in Europe slashed revenue from holding securities.
Number of Americans, who have found a job in October decreased to 80 thousand from 103 thousand in September, while the unemployment slid 0.1% to 9.0%, the Bureau of Labor Statistics said on Friday. Economists expected the economy to add 97 thousand jobs and the unemployment rate to remain unchanged at 9.1%.
Italy will allow the International Monetary Fund to monitor implementation of its austerity reforms, said European leaders on Friday. "We need to make sure there is credibility with Italy's targets -- that it is going to meet them," one EU source said.
Japanese stocks tumbled for a third consecutive day on Wednesday, after Greek Prime Minister George Papandreou promised a referen-dum on a new aid package from European Union. The Nikkei 225 lost 2.21%, or 195.10 points, to 8,640.42, while the broader Topix de-creased 2.11%, or 15.92 points, to 738.58.
Swiss stocks rose for a second consecutive day on Thursday, after the European Central Bank lowered the key interest rate to 1.25 percent. The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, gained 1.02%, or 57.00 points, to 5,668.05. The broader Swiss Performance Index increased 1.22%, or 62.03 points, to 5,161.72.
The U.K. service sector expansion slowed sharply in October. The Markit/Cips services purchasing managers' index (PMI) decreased to 51.3 from 52.9 in September, the Markit research agency announced on Thursday. Still, the reading above 50.0 shows industry expansion.
Number of Americans, claiming for unemployment benefits, decreased to 397 thousand last week from 406 thousand the week before, said the Department of Labour on Thursday. Economists expected the reading to decline to 401 thousand.