Asian equities advanced on Tuesday rising to the highest level in almost five months as investors become optimistic about a possible agreement between the U.S. President Barack Obama and House Republican about the new federal debt limit. The MSCI Asia-Pacific index outside Japan added 0.8% increasing to the strongest level since May 23, while Japan's Nikkei gained 0.5% to a
Danske Bank A/S, the largest bank in Denmark, has recently dismissed its main financial director, as the company is in process of changing its strategy. Moreover, a month earlier the CEO of the bank was changed. It is said that Danske did not match the profit goals for last five years. Danske Bank A/S equities are trading lower 1% to
Thomas Jordan, President of the Swiss National Bank, said on Monday that the franc-euro ceiling should remain in power in order to support economic growth in Switzerland. The ceiling of 1.20 francs per euro was implemented by the SNB in September 2011, when the exchange rate became risky for Swiss economic stability. Since September 2012 franc has already lost 2.5%
The Central Bank of Singapore will continue its policy of gradual national currency's appreciation, as the economic growth in the country was more positive than many economists estimated. Currency appreciation, in turn, will ease inflation pace. GDP lost 1% during July-September from a quarter ago, when it surged 16.9%. Analysts forecasted the economy to decline 4%.
Electric vehicle sales in the United States are stagnating, as the consumers are not sure about quality of batteries and overall usefulness of such cars. There were only 140,000 hybrid and electric vehicles sold in the country by the time being, while Barack Obama's plan speaks about one million such cars on U.S. roads by 2015. Moreover, the rental data
Futures for natural gas surged to its highest level in four months, as the fresh weather forecast predicts snowy and cold winter in the U.S., which can boost demand for energy. Temperature in the U.S. has already dropped below average during October 19-28. Natural gas prices for delivery in November jumped 0.6%, reaching $3.799 per million thermal units. This year
Finance ministers from the biggest countries, which hold U.S. government Treasuries, said on Monday that they fully trust in stability of U.S. financial liabilities and will not sell Treasuries, even if Congress does not negotiate successfully by October 17. It is worth pointing out that at the moment Russia, India, Japan and Saudi Arabia have more than $1.3 trillion in
Roche Holding AG, a Swiss pharmaceutical company, plans to invest $880 million in order to boost production of its new biologic medicines, as the demand rises. The plan includes expanding four production facilities in Switzerland, Germany and the U.S., by adding additional 500 jobs. Roche Holding AG shares are trading up 0.42% to 193 euros per share by 14:00 GMT
U.K. shares were little changed, after benchmark FTSE 100 Index advanced previous week, as U.S. officials continued to seek for a compromise. The FTSE 100 climbed 0.1% to 6,494.19 as of 12:18 p.m. London time, following its last week's 0.5% gain. The FTSE All-Share Index rose 0.1% today, while Ireland's ISEQ Index slid 0.2%.
The British currency gained from near the lowest level in four weeks versus the greenback ahead of unemployment data that are expected to reach the lowest level since year 2009. The Pound added 0.1% to $1.5980 as of 11:27 a.m. in London after slipping to $1.5914 on October 10, while the Sterling traded at 84.87 pence per Euro after falling
Australia's home-loan approvals decreased on a sequential basis in the month of August missing the initial projections, a report unveiled by the Australian Bureau of Statistics showed on Monday. According to the report, the total number of home loans fell 3.9% standing at 49,912 in August, while it was forecast to contract 2.5% after it dropped 2.4% in July.
Service sector activity in New Zealand increased at a faster rate in September than in the month before, a report revealed by the Bank of New Zealand and BusinessNZ showed on Monday. According to the report, the performance of service index (PSI) advanced from 53.3 recorded in August to 55.6 points in September, while new orders rose from 54.9 to
European equities declined on Monday as the debt limit impasse widens after the U.S. President Barack Obama and House Republicans failed to raise the federal debt ceiling in order to avoid technical default of the country. Futures of benchmark index Euro Stoxx 50 with delivery in December slipped 0.3% to 2,953 as of 7:15 a.m. in London, while FTSE 100
Emerging-market equities dropped on Monday falling from the highest level in four months mainly due to a decline of technology shares as deadlock over the U.S. debt limit continues after Barack Obama and House Republicans failed to find an agreement this weekend. The MSCI Emerging Markets Index dropped 0.1% to 1,022 as of 2:08 p.m. Hong Kong time.
Chinese stocks increased on Monday pushing the local benchmark index to the highest level in a month mainly due to an increase of railway companies climbing by 10% offsetting data showing faster inflation and lower exports. The Shanghai Composite Index gained 0.6% to 2,240.41 at 1:19 p.m. and it closed at the strongest level since September 12.
Copper decreased on Monday leading declined in industrial metals as the U.S. government shutdown continues and as China's exports recorded a drop last month fuelling concerns that demand from two largest users may slow down. Copper for delivery in December fell 0.8% to $7,140 a metric ton and it was traded at $7,187.50 as of 10:03 a.m. Shanghai time on
The Indian benchmark stock index advanced on Monday rising to the highest level in a month mainly due to a notable increase of software shares as improving global economy may boost their profitability and as factory production dropped. The S&P BSE Sensex gained 0.4% to 20,605.52 by 11:09 a.m. Mumbai time after it added 3.1% last week.
Gold fluctuated on Monday and was traded above the lowest level in a three-month period as the debt limit talks between Barack Obama and congressional lawmakers brought no agreement after this weekend persisting the U.S. government shutdown. Bullion for delivery in October advanced 0.5% to $1,279.05 an ounce and slipped 0.3% afterwards to $1,270.81 as of 12:17 Singapore time.
The Australian Dollar decreased on Monday extending its losing streak against its New Zealand's counterpart to the second straight day after a report showed that Australia's home-loan approvals declined to for the first time in 2013. The so-called Aussie fell 0.4% to NZ$1.1332 by 4:53 p.m. Sydney time following a 0.3% drop on October 11.
The U.S. Dollar declined on Monday falling for the second straight day against the Eurozone's currency as this weekend's debate in Washington between the U.S. President Barack Obama and House Republicans did not bring any agreement on the new debt limit. The so-called Greenback weakened 0.1% to $1.3563 per Euro at 12:14 p.m. Singapore time following a drop to an
West Texas Intermediate crude dropped for the second straight session on Monday amid concerns that the U.S. economic growth may be slowed down reducing fuel demand as U.S. lawmakers failed to agree on the new debt limit this weekend avoiding technical default. WTI for settlement in November fell 81 cents to $101.21 a barrel on the NYMEX and it was
The Japanese Yen increased on Monday amid concerns that U.S. policymakers may fail this week to agree on the new debt ceiling avoiding the country's technical default raising demand for riskier assets. The Yen advanced to 98.31 per U.S. Dollar after it touched today's high at 98.05 earlier, rebounding from Friday's 2-week low at 98.60 U.S. cents.
China's inflation measured as consumer price index increased to the strongest level in seven months in September, although it stayed below the country's official target, a report released by the National Bureau of Statistics revealed on Monday. The report showed that the consumer price index rose 3.1% year-on-year after it added 2.6% in August, missing the inflation target at 3.5%.
Asian stocks declined on Monday as the weekend debt ceiling debate between the U.S. President Barack Obama and congressional lawmakers failed in Washington persisting the government shutdown, however, expectations are that an agreement will be reached avoiding the country's default. The MSCI Asia-Pacific shares outside Japan fell 0.3% and China's CSI300 Index dropped 0.2%.