U.K. services activity index unexpectedly rocketed to 62.5, comparing to September's figure of 60.3, heading for fastest growth since May 1997, Markit Economics revealed today, while the construction and manufacturing indexes also advanced in previous month. The Britain's economic output will grow 1.3% this year and 2.2% in 2014, the E.U. Commission said today.
S&P 500 futures maturing in December dropped 0.3% to 1,757.6 as of 7:29 a.m. in New York, ahead of service industry report coming out this week, which will show the U.S. economic performance after Fed required some more evidence of improvement before tapering monetary stimulus. Dow Jones Industrial Average contracts dropped 0.3% to 15,522, while LeapFrog Enterprises Inc. declined 9.1%.
Premier of China Li Keqiang said in conversation with All-China Federation of Trade Unions on October 21, that China's economy has to grow 7.2% a year to create 10 million new working places annually and keep the urban unemployment rate at about 4%. Meanwhile, Chinese service sector activity index advanced to 52.6 compared to 52.4 in September, indicating on
The Japanese Yen advanced against most of its 16 major counterparts. The Yen appreciated 0.3% against the Europe's common currency, before the President of European Central Bank, Mario Draghi today speaks ahead the monetary policy meeting. The Yen advanced 0.2% versus the greenback, before the U.S. reports that might show slower pace of economic growth and smaller gains for employment.
The Sterling traded at $1.5959 at 7:37 a.m. in London, following a 0.3% increase on Monday, as Markit Economics indicator of U.K. construction industry advanced the most in six years, Markit Economics said. GDP is estimated to grow 1.4% this year and 2% in 2014, according to London-bases Niesr today's data. One Euro buys 84.56 pence.
The United Arab Emirates non-private sector expanded in October, however, the rate of increase eased from the previous month, a report published by the Markit Economics revealed on Tuesday. The UAE private sector slipped from a level if 56.6 in September to 56.3 recorded in the following month indicating growth in the sector with the reading above 50.
Private sector in India recorded a modest increase in October with the gauge measuring the activity staying below a level of 50 for the fourth successive month signalling contraction in the sector, a survey published by Markit Economics revealed on Tuesday. India's HSBC composite output index advanced from 46.1 in September to 47.5 in the following month.
European shares increased on Tuesday pushing the benchmark index Stoxx Europe 600 towards the strongest level in five years as BMW recorded higher profits that forecast and before a report was released showing an economic outlook of the European Union. Stoxx Europe 50 Index with settlement in December gained 0.3% to 3,059 as of 7:11 a.m. London time.
Emerging-market shares declined on Tuesday and were poised to record the longest losing streak in a five-week period mainly due to a fall of Indian stocks and as China's lenders shrank amid concerns that government may cut industrial overcapacity curbing earnings. The MSCI Emerging Markets Index slipped 0.3% to 1,023.89 as of 2:47 p.m. Hong Kong time.
Twitter Inc. is likely to price its initial price offering at a higher valuation than initially expected making it more expensive than its rival with 5 times as many users, Facebook. The microblogging company Twitter increased its IPO to $23 to $25 a share making a top of the range market capitalization of $13.6 billion valuating the company 11.8 times
South Korean bonds declined on Tuesday falling for a fourth session and pushing yields due in 2016 towards the highest level in three weeks amid concerns that emerging-market demand may be reduced by the Federal Reserve decision to scale back its stimulus. The government's 2.75% bonds due June 2016 jumped two basis points to 2.89%, the most since October 14.
German government bund fluctuated on Tuesday before a report showed that producer prices in the 17-nation bloc declined in the month of September and as the country is set to auction five-year notes totaling 4 billion euros tomorrow. German 10-year government bunds yielded at 1.68% as of 7:11 a.m. in London after the rates dropped to the weakest level since
The number of jobless registered in October advanced by 87,000, following the 25,600 increase a month earlier, Spanish Employment Ministry data revealed on Tuesday. That makes 4,811,383 unemployed in total, which is the biggest number of jobless since May. The Spanish unemployment rate reached 26.6% in September, remaining the second- highest among Eurozone, last week data showed.
The central bank of Australia took a decision on Tuesday to maintain its low benchmark interest rate measure, keeping it at fifty-year low of 2.5%, as economy expansion in previous year was slightly below trend and the unemployment rate increased, Australia's Reserve Bank governor Glen Stevens said. Meanwhile the positive signs of this policy might be revealed in September‘s retail
Gold advanced, thus halting its five day loosing streak, before the U.S. reports economic growth and unemployment, which might lead to the Federal Reserve cutting stimulus. Bullion gained 0.3% to $1,318.54 an ounce, while silver added 0.4% and platinum 0.3%. It is expected that gold is going to have first annual fall in 13 years. The gold gains are dependent
Natural gas traded in New York decreased on Tuesday falling for a fourth day after it closed at the weakest level in more than a two-month period on concerns that heating demand may be reduced by moderate weather in November. December natural gas futures slipped 0.5% to $3.427 per million British thermal units on the NYMEX and traded at $3.432
Copper increased on Tuesday recovering from the weakest closing price in nearly a month after a recent government data signaled an improvement of economy in the world's largest user of the metal, China. Copper for immediate delivery advanced 0.5% to 7,182.75 a metric ton on Tuesday trading session after it declined to $7,149 yesterday.
U.S. Treasuries swung between gains and losses on Tuesday rebounding from a rank as the worst-performing bonds actively traded on world markets in last two months as majority of economic data from the U.S. were falling short of forecasts since July. The benchmark 10-year government bonds yielded at 2.60% at 2:28 p.m. Tokyo time.
China's equities advanced on Tuesday mainly due to an increase of agricultural companies after the local government claimed it will introduce reforms to spur the industry at the Communist Party meeting this month. The Shanghai Composite Index gained 0.2% to 2,153.92 as of 2:12 p.m. local time, while it has dropped 5% this year, and the CSI 300 Index traded
West Texas Intermediate crude fluctuated on Tuesday traded close to the lowest level in more than a four-month period amid concerns that stockpiles in the world's largest consumer, U.S., increased for the seventh straight week. WTI for settlement in December added 8 cents to $94.70 a barrel on the NYMEX as of 2:30 p.m. in Singapore, after it reached the
The Bank of England is expected to increase its benchmark interest rates in the second half of 2015 before the nation's unemployment reaches a level of 7%, which is forecast to happen in early 2016, a report published by the National Institute of Economics and Social Research. Britain's central bank has maintained its rate at historic low 0.5% since 2009.
Retail sales in the United Kingdom increased in September rising at a faster rate than in the previous month, however, clothing sales declined on mild weather in the area, a report released by the British Retail Consortium showed on Tuesday. According to the report, the country's retail sales advanced 2.6% on an annual basis in October after gaining 2.4% in
Stocks on Wall Street inched up on Monday trading session as the trading volume stayed low signaling that investors waited for a payroll report due Friday and as S&P 500 Index traded just below its all-time closing high. The Dow Jones Industrial average climbed 0.15% to 15,639.12, the S&P 500 index rose 0.36% to 1,767.12 and the Nasdaq Composite index
The Aussie depreciated against its all 16 major peers, after RBA Governor Glenn Stevens announced, that the Australian Dollar is "uncomfortably high". The Australia's currency slid 0.4% versus the U.S. Dollar, after it strengthened 0.8% yesterday. The Aussie tumbled 0.6% against the Japanese Yen, having the largest drop among other counterparts. The Australian Dollar has advanced 4.7% in last three