Japanese equities dropped, heading the Nikkei 225 Stock Average to post the biggest two-day decline since November 2011, as the Yen appreciated prior to Italy's bond sale after unconvincing elections fueled concerns over a new debt turmoil in Europe. The Nikkei 225 Index tumbled 1.3% to 11,253.97. All groups in the index inched lower. MS&AD Insurance Group Holdings slumped 4.5%
The Euro advanced for the first time this week versus the U.S. Dollar on Italy started to sale bonds and on news consumer confidence in the Eurozone grew from 89.5 to 91.1 in January. The Euro appreciated 0.2% against the U.S. Dollar to $1.3087, following decline to $1.3018 yesterday, the weakest level since January 7. The Euro depreciated 0.1% versus
Gold dropped in London for the first time in 5 sessions on increasing confidence that the world economy is recovering declined demand for gold as alternative saving. Immediate delivery gold depreciated 0.3% to $1,609.77 an ounce after gaining yesterday 4.2% from $1,555.55, the lowest in 7 months, set on February 21, to $1,620.37, the highest in one week. The contract
The Pound depreciated versus the Euro as the U.K. data showed the country's economic growth slowed down in the last quarter of 2012. According to the report, the U.K. economy contracted 0.3% during the last quarter, after growing 0.9% in the previous quarter. Sterling dropped 0.3% against the Euro to 86.62 pence per Euro, following decline to 88.15 pence per
Farm commodities apart from sugar moved higher on Tuesday amid broadly weaker US Dollar and speculation that lower prices will attract more demand from importers. However, eased concerns over strikes in Brazil limited gains. Brazilian government agreed to meet unions to discuss unpopular port privatization plan. Wheat bounced off an eight-week low on talks that a recent decline in prices may
Energy futures ended Tuesday's session in red after the American Petroleum Institute reported an increase in the US inventories. Moreover, easing supply concerns added pressure on the commodity complex. Iran is preparing its offer to a proposal by US and other countries to remove some sanctions. Crude oil dropped after the American Petroleum Institute said US stockpiles advanced 904,000 barrels last
Industrial metals were mixed on Tuesday amid upbeat US numbers and dovish comments by Ben Bernanke. New home sales soared to the highest level since July 2008 in January, while consumer confidence rose more-than-expected this month. Adding to gains, Ben Bernanke's comments alleviated worries that the Fed may withdraw its bond-buying program. Aluminum remained in the negative territory amid global surplus
Asian shares excluding Japan rose as U.S. consumer confidence and housing data overshot expectations. Japan's stocks declined as the Yen gained before Italy's bond sale. The MSCI Asia Pacific Excluding Japan Index added 0.6% to 476.05, while the broader MSCI Asia Pacific Index falling 0.3% to 133.10. Japan's Nikkei 225 Stock Average slid 1.3%, whereas Australia's S&P/ASX 200 Index jumped
The Chinese Yuan strengthened for a fourth straight day as the Fed Chairman Ben S. Bernanke defended the bank's highly accommodative monetary policy that increases supply of U.S. Dollars, boosting demand for emerging-market assets. The currency rose 0.04% to 6.2272 per greenback at 9:56 a.m. in Shanghai. It fetched 6.2269 earlier, the highest level since February 8.
The Korean Won rose for the first time this week as the nation's current-account surplus expanded to $2.25 billion in January from $2.14 billion a month earlier and consumer confidence reached the highest level since May 2012. The Won gained 0.1% to 1,086.45 versus the U.S. Dollar at 10:24 a.m. in Seoul. One-month implied volatility fell 0.07 percentage point to
The Australian Dollar stayed lower amid concern Italy's election deadlock will worsen the Eurozone's debt crisis, sapping investors' appetite for higher-yielding assets. The Aussie fell 0.1% to $1.0216 as of 4:15 p.m. in Sydney from a day earlier, when it traded at $1.0201, the weakest level since October 10. The currency slid 0.4% to 93.71 yen.
U.S. blue chips edged higher on Tuesday after reports showed the housing and consumer confidence grew more-than-expected. New home purchases in January rallied to their highest since July 2008, boosted by stronger consumer confidence in February. The Dow Jones Industrial Average rose 0.8%, or 115.96 points, to 13,900.13. All nine groups in the index edged higher. Home Depot led gains
Wall Street was green on Tuesday, rebounding from the lowest levels since November 2012, as housing and consumer confidence data topped the estimates. The S&P 500 Index climbed 0.6% to close at 1,496.94. All sectors edged higher. PulteGroup Inc. posted biggest gains in the index, as its shares were 5.72% up at $19.05 by its close, adding to the 0.5%
Hong Kong shares dropped, erasing their earlier gains in 2013 on speculation China might reduce their monetary stimulus activity and impose more measures to cease property prices. In addition, the investors are rather cautious with risky assets due to political instability in Italy. The Hang Seng Index retreated 1.3% to close at 22,519.69, the lowest level since December 2012. Only
Japanese blue chips were bearish on Tuesday, dragging down the Nikkei 225 Index from its more than four and a half year low, as concerns hovered over the Europe's debt crisis due to on-going Italian parliamentary election. The Nikkei 225 slid 2.3% to 11,398.81, pairing the biggest decline since 2008. All but one sector in the index slumped. Toyo Seikan
Significant China's economic growth and boosting demand for commodities, push prices higher, especially copper. This December China needed 4.2 million kilometers of cooper cables, what is enough to circle the globe 100 times. The metal price has surged by 4.4% in 2012 and outperformed the world's equity index, which increased by 3.2%, and main commodities, which gained by 1.3%.
The Stoxx Europe 600 Index was lower by 1.3% in the beginning of London trading session on Tuesday. Investors were pessimistic on European stocks, as Italian election increased concern that region's debt crisis might get worse after a potential Silvio Berlusconi reelection. Italian 10-year maturity bond yields surged by 35 basis points.
The Shanghai Composite Index plummeted by 1.4% to 2,293.34 points in the end of Asian trading session on Tuesday. The major Chinese equity benchmark dropped to the lowest level since 25th January. Investors had concerns that the government would introduce new tools to curb property prices and cool the real estate market.
U.S. equities tumbled on Monday, heading the indexes towards their biggest decline in three months after partial parliamentary election results in Italy hovered concerns about the European debt crisis. The S&P 500 Index declined 1.8% to 1,487.85. All sectors in the gauge inched lower. F5 Networks paired biggest losses in the index, as it fell 3.1% to $89.55 adding
The MSCI Asia Pacific Index lost 0.4% and dropped to 133.65 points in the end of Asian trading session on Tuesday. Investors were concerned about Italian elections, which might reignite European debt crisis. Also, China's government announced that it may introduce more tools to curb real estate prices and cool the market, what potentially may hurt total domestic growth.
Farm commodities except for corn finished in the red territory on Monday amid improving weather conditions in the US and South America. Sending rural commodities lower, speculators continued to reduce net long positions after the USDA at its Outlook conference expressed optimism about this year's harvest. Wheat plunged to an eight-month low as the second snowfall brought a relief to US
Energy futures apart from natural gas were steady on Monday on weak demand for risky assets amid elections in Italy. Solid greenback and caution ahead of the Fed Chairman Ben Bernanke testimony due on Tuesday also put pressure on the commodity complex. Crude oil retreated amid appreciation in the US Dollar. Pushing the commodity lower, China's manufacturing activity expanded at
Industrial metals were mixed on Monday amid elections in Italy and concerns over recession in the Eurozone. Stockpiling at the LME warehouses and weaker-than-expected HSBC flash manufacturing PMI data also put heavy selling pressure on the base metals complex. China's manufacturing PMI reached a four-month low of 50.4 in February, compared to expectations of 52.2. Aluminum prolonged its slump after
Precious metals were mixed on Monday on speculation the Fed Chairman Ben Bernanke will support continuation of the growth-boosting measures at his testimony on Tuesday. Moreover, precious metals regained their safe-haven appeal amid uncertainty over Italian elections. Gold jumped on signs of rising demand in China. Daily volumes for spot gold on the Shanghai Gold Exchange have more than doubled