Energy markets followed bullish trend on Thursday after news that Iran and six major economies failed to reach a consensus on Iran's nuclear program. Crude oil managed to add almost 1% as potential supply disruptions spurred the commodity price. However, weak manufacturing data releases across the world restricted crude oil's gains.Brent oil was the top-performer as supply risk-premium returned after
Agricultural commodities balanced between global demand concerns and potential supply cuts. Broadly stronger US Dollar also weighed on the commodity pack.Wheat extended previous losses despite speculation that droughts in the US, Russia and Australia are likely to impact the crops.Corn was sharply lower as cooling China's economy and turmoil in the Euro Zone added to worries about fall of the
World trade organization received China's complaint regarding tariffs the US put on some of the import from China. Complaint is regarding countervailing duties related to 22 goods with the annual import to the US value of USD 7.3b. Other two trade disputes should be ruled out by WTO soon as well. First - concerns China's export of electrical steel. In the second
Italy's trading deficit with non-EU countries decreased by EUR 1.6b in April in comparison to the same period last year and was EUR 904m. Export to non-EU countries increased by 2.3% in comparison to April 2012 and reached EUR 13.9b. Imports from non-EU countries to Italy decreased by slightly more than 8% from the same period last year and was
Trading in the shares of Bankia has been suspended in Madrid. Market regulator announced that this was done due to circumstances which might influence normal trading. Bankia is said to be forced to ask EUR 15b government bailout. Fourth largest Spanish bank was formed in 2010 after uniting seven troubled regional banks and currently holds EUR 32b worth of troubled assets.
Asian stocks closed lower on Friday trade as risk-aversion among investors remained high in the light of economic instability in the EU and China. China's Shanghai Composite Index fell by 0.7% while Hong Kong's Hang Seng Index lost 0.3%. Meanwhile Japan's Nikkei 225 and South Korea's Kospi both managed to climb by 0.2 and 0.5%, respectively.
Moody's cut long-term ratings of three Sweden's banks, citing g overreliance on wholesale funding, risk to asset quality and relatively low profit margins. The ratings agency lowered Nordea Bank AB and Svenska Handelsbanken AB by one notch to Aa3. The firm also cut rating of Landshypotek AB by two notches to Baa2. At the same time, Moody's reaffirmed its ratings
Core durable goods orders in the US declined unexpectedly in April, falling by second month in line. Orders of core durable goods dropped by 0.6% on a seasonally adjusted basis, confronting forecast of a 0.9% rise, reported the US Census Bureau. Meanwhile, total orders of durable goods eased up by adjusted 0.2% last month while experts predicted a 0.5% gain.
Consumer prices in Japan increased by 0.2% last month, being spurred by rising energy costs. The figure still is below the target of central bank of 1%. Energy costs soared by 4.7% in April, indicating that the government's hopes that Japan managed to avoid deflation seem premature, said Martin Schulz from Fujitsu Research Institute.
Crude oil prices decreased in Asian trade on Friday as elevated US inventories and global manufacturing slowdown lingered demand concerns. From the supply side, the commodity was also pressured as talks between Iran and six major economies progress. Light, sweet crude oil futures for delivery in July traded at 90.552 US Dollars per barrel on the New York Mercantile Exchange,
Gold prices declined during Asian session on Friday, being pressured by global growth concerns and broadly stronger greenback. The US Dollar Index that monitors its performance against a set of six main currencies gained 0.04% to 82.47 US Dollars. COMEX gold June contract traded at 1,552.95 US Dollars per troy ounce on the New York Mercantile Exchange, declining by 0.29%.
US manufacturing expansion slowed this month as exports continued to soften. Markit PMI attained thee-month low of 53.9 as compared to a previous month reading of 56.0. Markit attributed the slowdown in manufacturing growth to weaker exports in the EU and China. Recent fall in durable goods orders also contributed to a decline, indicating that businesses are not willing to
JP Morgan cut its Australia's growth forecast for 2012, but the bank still expects mining boom in the country to stimulate economic expansion. The investment bank now predicts Australia's GDP to grow by 2.7% this year as compared to an initial expectation of a 3.0% expansion. It also lowered growth forecast for 2013 from 3.3% to 3.0%. JP Morgan cited
Natural gas futures declined during late US trade on Thursday after IEA reported that US inventories increased by 101 billion cubic feet on an annual basis last week, being higher than five-year average change of 97 billion cubic feet. Natural gas futures for June delivery traded at 2.707 US Dollars per million Btu on the New York Mercantile Exchange, tumbling
The number of individuals who applied for jobless benefits in the US decreased by 2,000, approaching 370,000 last week, reported the US Labor Department. The figure is in compliance with expectations. The number of unemployment claims remained below the mark of 400,000, indicating that job market is recovering. After the data release, the US Dollar appreciated against the Euro and
Canadian stock still remains on its road of gains by increasing the value on Thursday, due to a rise in industrial, as well as consumer staples stock. The Composite Ratio (S&P/TSX ) added to gains 39.18 points, 0.3 per cent increase, and went up to the number of 11,603.98.The Capped Industrial Ratio(S&P/TSX) rose by 0.7 per cent and the Capped
The dollar's slight decreased on Thursday has lifted up the single European currency from its 22 moth long road of loss against the currency. The greenback has felt after the United States' last data release and a significant drop of the Sweden currency's value. The euro's value on the European market, during the trading time, was $1.2514, then the currency has
Gold futures jumped on Thursday, recovering from the road of loses of the previous session, in order to track other products' rises and equities of the United States, due to the dollar's decrease in strength.Gold, which is prepared for distribution in June, has risen in value by $25.60, 1.7 per cent increase, to the number of $1,574.10 for an ounce
Agricultural commodities went down despite the fact that weather conditions in the US and Russia may deteriorate thus restricting global supplies.Wheat declined despite reports that hot and dry weather in the US, Russia and Australia may spur the largest fall in world's supplies since 2003.Corn increased for the first time in the last three trading days as unfavorable weather conditions
Energy markets were mostly lower on Wednesday as Iranian talks are likely to bring positive results. At the same time, demand may drop amid dismal manufacturing performance worldwide.Crude oil tumbled below 90 US Dollars per barrel after Iran agreed to allow international inspectors to examine aspects regarding the country's nuclear program.Brent oil eased down amid strong US Dollar and higher
Industry metals fell on Wednesday as economic instability in the Euro Zone remained the main threat to global expansion.Aluminum declined as many producers started to close down smelters because of low prices.Copper approached more than four-month low after the EU leaders agreed that each member has to get prepared for possible Greece's exit from the Euro Zone.Nickel extended previous losses
Precious metals extended previous losses on Wednesday, being pressured by broadly stronger US Dollar and unfruitful talks between the EU leaders.Gold dropped after US reported inspiring US home sales data that faded hopes for more easing measures from the Fed.Silver fell as weak global equities and persistent turmoil in the Euro Zone continued to push the white metal down.Platinum continued
European stocks returned to growth, despite services and manufacturing purchasing managers indices across Europe and German business confidence shrank more than expected. The Stoxx Europe 600 Index added 1.0 percent to 241.81. Cable & Wireless Communications Plc soared 19 percent. Sonova Holding AG gained 2.5 percent. Bayer AG declined 1.1 percent. U.S. futures and Asian stock little changed. S&P 500 futures gained 0.3 percent, MSCI
Bank of England revised UK's GDP growth in the first three months of 2012 to -0.3% instead of initially estimated -0.2%. Adjustment was made due to revised results in UK's building sector. Initially estimated 3% decline turned out to be 4.8% decrease in construction sector. In comparison to the same period last year UK's economy shrank 0.1%. This is the