Energy commodities apart from natural gas were higher on Monday after Fed reaffirmed it would keep record low interest rates further and may consider providing more monetary stimulus to boost growth. Crude and Brent oils were also bolstered by supply concerns as Barack Obama urged Iran to put more efforts into reaching a diplomatic solution across its nuclear programme as
Industry metals except for nickel advanced on Monday after Fed reported it would maintain the current monetary policy in view of weak job market. Broadly lower US Dollar added to the positive mood of the commodity pack. Meanwhile, improved German Ifo business climate index also lent support to the upward trend of base metals. Copper was the top-performer as the
Precious metals rallied on Monday after Ben Bernanke hinted on continuation of the Fed current monetary policy with record low interest rates. The announcement was interpreted as a possible sign of new round of quantitative easing in the country that spurred the precious metals price. More stable situation in the Euro Zone also created a spree for the commodity group,
German DAX index extended gains on Tuesday lifted by financials and heavyweight companies whose stocks were upgraded. Commerzbank AG gained 1.8% and Deutsche Bank AG advanced 1.5%. Henkel AG added 1% after Morgan Stanley raised the shares from underweight to overweight, citing feasible EPS growth. Deutsche Lufthansa AG edged up 3.4% after J.P. Morgan Cazenove lifted the stock from neutral
British FTSE 100 fluctuated between gains and losses on Tuesday. On the upside Royal Bank of Scotland rallied 4% on news UK government is considering to sell part of its RBS stake. In the negative area International Power lost 1.5% after Deutsche Bank lowered stock's rating from buy to hold. Resolution tumbled 3% after insurer reported a loss for 2011
Asian stock markets rallied on Tuesday lifted by Fed chairman Ben Bernake's signals the US central bank is likely to prolong its low- interest rate policy to support labour market. Japanese Nikkei Stock Average gained 2.4%, Hong Kong's Hang Seng index advanced 1.8% and South Korea's Kospi soared 1%. Australia's S&P/ASX 200 jumped 0.9% but Shanghai Composite index breached the
S&P 500 index rallied on Monday after Fed Chairman Ben Bernake said expansionary monetary policy is still necessary to boost jobs. US index gained 1.39% or 19.40 points and closed at 1,416.51. Apple Inc reached a new record as its shares jumped 1.8% to USD 606.98 a share. Edwards Lifesciences rocketed 5.9% on research results that showed company's Sapien device
Japan's Nikkei Stock Average made the biggest one-day advance in 5 months on Tuesday lifted by weaker Yen and Fed's Chairman announcement. Nikkei 225 index rallied 2.36% or 236.91 points and closed at 10,255.15. Sumitomo Metal Mining jumped 5.9% on news its gold mine in Alaska has discovered a gold deposit. Japanese leading exporters added to gains with Toyota Motors
Hong Kong's Hang Seng index followed its American counterparts on Tuesday and climbed sharply on Federal Reserve news. Hang Seng index surged 1.83% or 378.05 points and finished at 21,046.91. Commodities supported the index on the upside with Aluminum Corp. of China gaining 4.1% and Jiangxi Copper advancing 3.8%. China Life Insurance rallied 2.7% despite reporting a 45% fall in
Dow Jones Industrial Average index advanced sharply on Monday as Ben Bernake fuelled speculations central bank is likely to continue its economy-stimulating policy. Blue chip index jumped 1.23% or 160.90 points and settled at 13,241.63 with 29 of 30 stocks posting gains. Financial shares contributed most to the index. American Express added 2.5% on news it will increase its quarterly
BMW AG, German car maker will recall 120,246 cars in China due to the difficulties with the automobile's batteries, nation's quality control agency reported on Tuesday. The recollection of the Coupe, BMW 6 Series Convertible, BMW 6 Series and BMW 5 Series, vehicles produced between year 2003 and 2010 will begin in May 10. An installation problems of the batteries can create safety risks, quality control agency
US Dollar traded close to its lowest value against 17-nation currency on Tuesday Asian session on expectations Fed will keep loosen monetary policy to maintain expansion in the country. The greenback traded at USD 1.3344 per Euro in Tokyo. On year-to-day basis USD has given up 3% versus Euro. Currently EUR/USD is trading at USD 1.3351.
Australia's and New Zealand's Dollars dropped versus all of their counterparts on worries the world second biggest economy's growth may halt. Aussie fell 0.2% versus greenback to USD 1.0515 and gave up 0.1% against Yen to JPY 87.13. Kiwi slipped 0.2% against its US peer to USD 0.8218 and lost 0.1% versus Japanese currency to JPY 68.10. Currently AUD/USD is
China's manufacturing companies experienced their first fall in profit in three years as lower amounts of exports and government's property curbs harmed earnings. The net income for period January-February declined annual 5.2% or CHY 606 billion (USD 96 billion). In contrast Chinese industrial firms' profits rallied 34.3% in the corresponding two-month period last year.
Ben Bernake, Federal Reserve Chairman pointed out on Monday that further upturn in labour market may lag. Although job market may self-recover, there are not enough persuasive evidence of that, Bernake claimed. Therefore central bank will keep monitoring upcoming developments in US economy, he added. Investors anticipated Bernake's announcement as a signal Fed is likely to maintain its loosen monetary policy.
US leading stock indices offset last week's losses on Monday after FED chairman Ben Bernake indicated that central bank is likely to stick to loose monetary policy in order to maintain improvements in labour market. S&P 500 index gained 1.39% or 19.40 points and closed at 1,416.51, Dow Jones Industrial Average jumped 1.23% or 160.90 points and settled at 13,241.63. Nasdaq Composite advanced
The gold's price is likely to surpass 2,000 US Dollars per ounce in 2012 amid strong demand from emerging economies as India and China, said Mark Cutifani, CEO of AngloGold Ashanti Ltd. The average price for the yellow metal is expected to fall in range between 1,700 US Dollars and 1,800 US Dollars per ounce, he added. He also admitted
US businesses project slower pace of revenue growth in China in 2012 amid rising operation costs and worries over global stagnation, according to survey of American Chamber of Commerce. About 43% of the firms surveyed expect increase in sales to approach 11% this year as compared to a 15% increase in 2011. The major contributors to more pessimistic outlook on
Rio Tinto is reviewing its diamond operations and is looking for the options to cease its activities in three mines in Canada, Australia and Zimbabwe. The diamond business contributes below 5% of the total company's revenues, confronting to the company's strategy that implies investing heavily in expandable and long-life assets, said Harry Kenyon-Slaney, chief executive of diamonds and minerals division
Crude oil futures were marginally higher during Asian trade on Tuesday, being buoyed after the Chairman of Fed, Ben Bernanke, hinted on loosening monetary policy in the US in view of weak job market. Light sweet crude oil futures for May delivery traded at 107.05 US Dollars per barrel on the New York Mercantile Exchange, gaining 0.02%.
The economy of Argentina expanded by 7.3% in Q4 on an annualized rate and by 0.8% on a quarterly basis, indicating slower growth pace than in the previous periods, according to Indec. However, the figure is still above the expectations of a 7% yearly increase. The slowdown in industrial activities and weak consumer confidence both weighted down on the GDP
US pending house sales dropped in February, signaling on uncertainty over recovery of the real estate sector, reported the National Association of Realtors. The pending homes sales index decreased by 0.5% last month as compared to a 2.0% gain in January. Experts predicted the pending home sales to advance by 1.0%. Considering yearly changes, the sales increased by 13.9% last
Gold prices increased at Asian trade on Tuesday, being supported by hints that Fed is likely to provide additional stimulus to the US economy as labour market remains weak. COMEX gold futures for delivery in June traded at 1,691.45 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.19%.
European stocks advanced on Monday driven by better than expected data on German business confidence index. Stoxx Europe 600 index surged 1%, German DAX rallied 1.2% and FTSE 100 added 0.8%. French CAC 40 index gained 0.7%. Spanish benchmark IBEX 25 index tumbled 0.7% on worries about country's fiscal outlook.