Asian shares are set for the biggest monthly climb in three years after U.S. unemployment claims dropped surprisingly and Japan's inflation picked up the most since 2008. The MSCI Asia Pacific Index added 0.3% to 140.89 at 2:21 p.m. Hong Kong time and the gauge has risen 8% monthly, reaching the highest level in four months.
Barclays Plc bank experts point out that Europe's recovery can boost global economic growth, as the research has shown that a 1% advance in European economy make 33 out of 39 large economies to rise as well. Moreover, the European impact on global economic growth in three times bigger than U.S. effect, as the whole European economy is bigger and
European shares were little changed before Eurozone's confidence data that are awaited by investors. The Stoxx Europe 600 Index gained 0.1% to 313.24 as of 8:27 a.m. London time; however, the equity-benchmark has fallen 0.3% weekly on worries that U.S. lawmakers could fail to approve the new budget for upcoming financial year.
People, who invest their money in property in the London's Midtown, are observing the faster property price increase, making their returns even bigger, as infrastructure projects, such as Crossrail, make this district very attractive. According to data, property and rent prices in Midtown surged 5.9%, comparing with a 5.4% price rise in the West End and a 4.3% advance in
Raghuram Rajan, the Reserve Bank of India Governor, is determined to apply consumer-price inflation instead of currently used wholesale-inflation gauge, signaling plausible advance in interest rate. The RBI makes price pressure number one priority as in August consumer based measure climbed 9.2% year-on-year and 8.2% excluding food and fuel.
French households' consumption declined 0.4% in August on a monthly basis, while analysts forecasted the consumption to add 0.3% after July gain of 0.4%. It is worth pointing out that the French bought 0.7% less food and 1% less energy products, while spending on durable goods decreased only by 0.3%. On the annual basis spending slumped 0.1% against 0.3% increase
Esther George, the Federal Reserve Bank of Kansas City president, announced during his speech on Thursday that U.S. economy is improving and labor market conditions are quite good to start tapering stimulus, which now stands at $85 billion per month. On these news U.S. government bonds' almost stopped falling, as the 10-year bond yields added only 0.01% to 2.66% at
BHP Billiton Ltd., an Australian mining and petroleum company, sold $5 billion of corporate bonds, as the yields declined amid signs of economic recovery in Europe and U.S., which can boost demand for commodities. Bond maturity varies from three to 30 years, while the 30-year bond yields decreased to 5.001%. BHP Billiton Ltd. equities traded today 0.03% higher to $36.36
The Japanese Yen appreciated against all of its most-traded peers as investors searched for haven on worries that U.S. political issues could lead to government shutdown. The Yen gained 0.4% to 98.61 per Dollar at 6:55 a.m. London time, while it added 0.4% to 133.04 per Euro. The greenback traded at $1.3491 against Eurozone's currency.
Local elections in Portugal will take place this Sunday, while the government is planning high budget cuts in 2014 to get approval for a new 78 billion euros bailout program. Government is going to decrease budget spending by 3.3 billion euros. Meanwhile, experts say that local election results will not be influenced by state austerity measures, as people in Portugal
The government shutdown for three or four weeks is expected to decrease economic growth 1.4%; yet if it continues to run, the growth rate is anticipated to be 3%. The country's administration already experienced interruptions that lasted around five and 20 days in Q4 1995, which decreased GDP 0.25 percentage point as furloughed workers' output was taken away from the
The Canadian Dollar fell to the lowest level weekly after positive U.S. economy data that indicated on nation's recovery and on increasing oil prices. Canada's currency was at C$1.0310 per U.S. Dollar as of 5 p.m. Toronto time after reaching C$1.0341, the lowest level since September 16; however, the currency has advanced 2% this quarter.
Japanese inflation jumped 0.8% in August of this year on the annual basis, while the increase was the fastest since 2008. Economists, on average, forecasted a consumer price index to add 0.7%. It is worth pointing out that overall prices in the country declined 0.1%, excluding perishables and energy. Government's plan provides that rising inflation will increase wages level across
The Aussie and the Kiwi are set for their first one-week retreat monthly versus the U.S. counterpart on the U.S. government shutdown speculation. The Australian currency dropped 0.2% to 93.46 U.S. cents at 2:11 p.m. Sydney time, after reaching 93.33 earlier, the weakest level since September 17, while the Kiwi slid 0.1% to 82.86 U.S. cents .
Home prices in the United Kingdom surged 0.9% in September of this year on a monthly basis, while annually prices added as much as 5%. In August housing price indexes were 0.7% and 3.5%, respectively. September data exceeded analysts' estimates of a 0.5% rise. Moreover, in September home prices increased in all thirteen U.K. regions for the first time in
Wal-Mart Stores Inc., the biggest reseller company in the world, plans to decrease its orders for a number of products, as inventories have risen to their limit, while sales amounts do not keep up with supply. Moreover, rising inventories have already decreased company's profit in the second quarter of 2013. Wal-Mart Stores Inc. shares are trading down 0.07% to $74.60
European households and private companies still do not rush to take more liabilities, as the economic recovery in the region is quite weak. Lending in August lost 1.5%, posting the 16th consecutive month of decline. The ECB said on Thursday that they will do everything to hold interest rates as low as possible to support lenders, while from April to
Japan's Prime Minister Shinzo Abe said on Wednesday after visiting New York Stock Exchange that investors from all over the world are welcomed in Japan, as the country's fiscal policy is becoming friendly to them. Recently the Japanese government announced a decrease of the corporation tax. In his speech Abe said that Japan can become the future leader of the
South Korean officials announced on Thursday that the country will have to reduce some benefits to its citizens, as budget revenues are expected to fall in 2014 for the first time since 2009. Moreover, the government will not raise, for example, pension benefits, as it promised earlier, while aging population still needs more support. The country's deficit for 2014 is
The IMF asked U.S. lawmakers to pass the debt ceiling deal as quickly as possible, while the delay may cause negative consequences for the whole country's economy. Alongside, Barack Obama refused any negotiations with Republicans over the federal budget, and it complicates the situation. Currently the U.S. public debt ceiling is $16.7 trillion and it will be reached by October
Home prices in Dublin surged as much as 10.6% in August on the annual basis, registering the fastest increase since the end of 2007. Across the whole country house prices advanced only 2.9% from August of 2012, but on a monthly basis they added 0.9%. Economists say that the rise was mainly called by limited supply, while demand is also
Corn traded in Chicago declined on Thursday due to speculations that yields may be better than originally estimated and as forecasts showed favourable harvesting conditions in the U.S. Midwest. Corn for December settlement dropped by 0.7% to $4.515 a bushel as of 6:40 a.m. on the CBOT, while prices of the commodity are down 12% in the Q3.
Copper increased on Thursday recording its largest gain in a week after a report showed that the economy of the world's second biggest consumer of the commodity, U.S., accelerated at a faster rate than forecast. December Copper futures added 1.1% to $3.309 a pound as of 10:18 a.m. on the New York's Comex, the biggest jump since September 19.
The Russian currency decreased for the third straight session on Thursday amid speculation that the central bank may reduce its currency reserves and as companies in the country started buying euros and dollars before next month's foreign debt payments. The Ruble fell 0.2% to 37.2467 versus the dollar-euro basket as of 4 p.m. Moscow time.