News

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Mon, 28 May 2012 15:01:59 GMT

Natural gas fell as residential demand weakened

Energy markets apart from natural gas moved higher on Friday as lack of resolution of Middle East tensions and indications of the US economic recovery created favorable conditions for the price increase.Crude oil futures were bolstered by failure to reach a compromise on the Iranian nuclear program while positive data on US consumer confidence boosted demand prospects.  Brent oil was

Mon, 28 May 2012 14:50:59 GMT

Zinc climbed on medium-term supply concerns

Industrial metals balanced on Friday between signs of robust US economic recovery and uncertainty in the Euro Zone and Asia.Aluminum was marginally lower as rising energy costs and weakening China's demand both created pressure on the light metal.Copper was among gainers due to falling stocks at the LME and Shanghai warehouses. However, high risk-aversion in the markets continued to cap

Mon, 28 May 2012 14:32:59 GMT

Gold rose despite stronger US Dollar

Precious metals rallied on Friday despite economic uncertainties in the Euro Zone and Asia. Stronger  greenback also continued to weight on the commodity pack.Gold was the top-performer despite lingering worries in the single currency union after Catalonia, Spain's region, announced it needs additional funds for refinancing its banking system.Silver followed bullish trend amid mixed equities and better than expected US

Mon, 28 May 2012 14:22:01 GMT

JPMorgan ensures additional funding to the China bank entity

With supplementary RMB 2.5B (USD 395M), the overall injected funds by JPMorgan total at CNY6.5 billion in three years. JPMorgan China's chairman and CEO Zili Shao stated that the be investment will be utilized for new product development, hiring new personnel, boosting lending possibilities as well as ensuring a wider network for the subsidiary. Consequently, this should allow the bank

Mon, 28 May 2012 14:11:02 GMT

Employment in the United States faces a slowdown

Despite a rapid increase in the employment in the beginning of 2012, the current figures show a less positive situation. To ensure that the labor market may revive itself from the impacts of the recession, the government should provide 250 000 places monthly; however, the according to the data provided by Sam Bullard, Wells Fargo, the actual rate maintains at

Mon, 28 May 2012 13:49:59 GMT

Swiss National Bank considers capital inflow control

Thomas Jordan, president of the Swiss National Bank (SNB), announced that bank considers introducing control of capital inflows in order to prevent further strengthening of the Swiss Franc. This would be continuous effort of the SNB to stop Frac's appreciation against the Euro since mid 2010. Recently, for the first time since 1970's, the SNB had to use self-imposed limit of the Franc versus other

Mon, 28 May 2012 13:38:59 GMT

Nikkei 225 trades close to flat on Monday

Japan's Nikkei Stock Average traded in narrow range on Monday as investors remained cautious towards more positive news from Greece. Nikkei 225 index gained 0.15% or 12.76 points and finished at 8,593.15. MS&AD Insurance Group Holdings fell 1.5% on news Lloyd's expect euro collapse in case Greece exits the common currency area. Furukawa Co surged 3.1% after announcing it will

Mon, 28 May 2012 13:27:59 GMT

Hang Seng ends 0.5% higher on Monday

Hong Kong's stocks rose on Monday on investor speculation Chinese government will provide additional measures to stimulate economic expansion. Moreover worries of Greece's exit from Euro Zone eased. Hang Seng index gained 0.47% or 87.58 points and closed at 18,800.99. Property shares supported the index with China Overseas Land & Investment adding 2.8% and China Resources Land rallied 3.4%. Some

Mon, 28 May 2012 10:45:58 GMT

Japanese stocks fell on Monday

Tokyo Stock Price Index, which includes all companies listed in the first section of Tokyo's stock exchange, fell to four month low on Monday after Bank of Japan stated it won't automatically increase asset purchases. Index closed at 721.11 losing 0.1% today and posing for a monthly dip of 8.7%. Renesas Electronics, one of worlds largest automotive electronic producers, retired

Mon, 28 May 2012 10:34:58 GMT

Cable drops versus Euro

Great Britain's pound weakened against 13 out of 16 major pairs today. It depreciated against euro for the first time in five trading days after Greece's pro-bailout parties received grater support in polls. By 8:30 GMT today, cable lost 0.5% of its value and dropped to 80.32 pence per Euro, but gained 0.2% against USD and was USD 1.5699 per pound after

Mon, 28 May 2012 10:23:59 GMT

Spain-German spread above 500 basis points

Spain's intentions to recapitalize Bankia using sovereign debt triggered investors doubts and drove demand for Spanish bonds down. For the first time after May 15 the Spain-German 10 year maturity bond yield spread exceeded 500 basis points. At 8:00 GMT yield for Spanish securities reached 6.4% in comparison to 1.38% of German. 

Mon, 28 May 2012 10:12:59 GMT

Spain might recapitalize Bankia using debt

After Bankia's request for rescue funding last week, government announced it might recapitalize the bank using government bonds. Rescue funding required is around EUR 19b. Bankia could use government debt papers as collateral getting money from European central Bank forcing ECB to get involved in restructurisation of Span's banking sector. This would be the biggest bank rescue in Spain's history.

Mon, 28 May 2012 10:01:58 GMT

UK home prices climb lifted by London market

UK housing prices surged for a third consecutive month in May, fuelled by value increase in London, Hometrack reported on Monday. Home value for the UK soared 0.2% compared to previous month while prices in London climbed 0.6%. Nevertheless, Hometrack predicts the price increase in nation's property market for the year will be limited due to persisting Euro Zone debt crisis. 

Mon, 28 May 2012 09:18:58 GMT

European shares recovered on Friday

European stock markets rebounded on Friday lifted by drug manufacturers and improved consumer confidence in Germany. Stoxx Europe 600 gained 0.2%, British FTSE 100 index traded almost flat and German DAX added 0.4%. French CAC advanced 0.3% but Spanish IBEX 35 posted only a small gain of 0.1% as worries over country's debt trouble lingered. Meanwhile Athens General index extended

Mon, 28 May 2012 08:45:59 GMT

Dow Jones falls 0.6% on Friday, 0.7% improvement for the week

Dow Jones Industrial Average index fell on Friday amid rising worries about Spain as the next troubled country after Greece. Blue chip index fell 0.6% or 74.92 points and closed at 12,454.83 with only 7 stocks ending on positive note. Standard & Poor's rating agency lowered on Friday its credit-worthiness assessment on 5 Spain's banks and warned about the nation's

Mon, 28 May 2012 08:34:58 GMT

S&P 500 down on Friday, 1.7% up for the week

S&P 500 index edged down on Friday, reflecting growing concerns over Spain. US benchmark dropped 0.22% or 2.86 points and closed at 1,317.82. Spanish borrowing costs surged to almost 6.3% after Spain's autonomous region Catalonia asked for a government financial aid. Nevertheless index managed to recover on weekly basis and reported a 1.7% gain, the first weekly advance since April.

Mon, 28 May 2012 07:31:59 GMT

China manufacturing companies' profits dropped in April

China manufacturing companies' profits fell 2.2% to USD 64.2 billion in April, National Statistics reported on Sunday. In March companies net earnings advanced by 4.5%. The drop in profit fuels concerns the Chinese economy is slowing to larger extent than expected. Annual manufacturing profit growth for 2012 might be somewhere between 10%-20%, Lu Zhengwei, analyst at Industrial Bank predicted.

Mon, 28 May 2012 07:09:01 GMT

China opened its banks for private investors

China has granted private investors the same rights as state firms possess while investing in China's banks. The move is aimed at boosting economic growth via attracting more overseas investors who were put off by inefficient banking sector in the country. Recently, China also opened its telecommunications and energy sectors for foreign investors.

Mon, 28 May 2012 06:48:58 GMT

US Dollar dropped on easing Greece's concerns

US Dollar was broadly lower in Asian session on Monday as recent polls indicated that parties favoring bailout measures are becoming more popular in Greece. Hence, the country is likely to stay in the single currency union. EUR/USD added 0.53%, approaching 1.2583 while GBP/USD gained 0.18% to trade at 1.5954. At the same time, the greenback moved down versus the

Mon, 28 May 2012 06:37:58 GMT

Gold appreciated amid Greece's political hopes

Gold futures went up in Asian session on Monday, being bolstered by indications that more pro-bailout parties are likely to gain power while dip buying opportunities also supported the price increase. COMEX gold June contract traded at 1,575.85 US Dollars per troy ounce on the New York Mercantile Exchange, easing up by 0.30%. Meanwhile, COMEX silver for delivery in July

Mon, 28 May 2012 06:26:58 GMT

Crude oil rose as Iranian talks stalled

Crude oil prices increased in Asian session on Monday amid stronger than initially expected US consumer confidence data and failure of Iranian talks to reach a consensus on nuclear program. Moreover, indications that pro-austerity parties are gaining popularity in Greece also lifted the price. Light, sweet crude oil futures for July delivery traded at 91.47 US Dollars per barrel on

Fri, 25 May 2012 19:58:46 GMT

Copper rose on production cuts

Industry metals rallied on Thursday despite weak manufacturing data from the Euro Zone, China and the US.Aluminum closed slightly higher due to tumbling supplies as major producers started to cut down the output levels in view of low prices. Henan, largest aluminum producing province in China, reduced capacity by 700,000 tons in the recent months.Copper also faced production cuts as

Fri, 25 May 2012 19:58:35 GMT

Silver gained after Italian PM comments

Precious metals went down on Thursday as weak PMI releases from the Euro Zone pushed the single currency down against the greenback.Gold was only marginally lower as the yellow metal gained support from increasing buying of Philippines, Ukraine and Mexico's banks that wish to diversify away from the US Dollar the Euro.Silver was the only gainer due to rebound of

Fri, 25 May 2012 19:58:13 GMT

European market value rallies up

The value of European market has grown this Friday, due to the recent data that was released in Germany, which displayed the European Union's consumer confidence, which is successfully stabilizing. The Stoxx Europe 600 ratio went up by 1.1 per cent to 6,385.44, the increase was supported by the rise of Total SA Index by 1.1 per cent, as well

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