Asian shares gained, with the regional benchmark index set for the highest close in 18 months, as Bridgestone Corp. rose on better-than-estimated profit forecast, while the Japanese Yen's strength put pressure on exporters. The MSCI Asia Pacific Index added 0.1% to 133.92 at 1:34 p.m. in Tokyo. Japan's Nikkei 225 Stock Average declined 0.4%, while Australia's S&P/ASX 200 Index rose
New Zealand's Dollar weakened versus its major counterparts as reports showed that Chinese quarantine administration has destroyed milk powder for 3 different brands imported from the South Pacific country. The kiwi depreciated 0.1% to 84.40 U.S. cents at 4:23 p.m. in Sydney and declined as much as 0.5% to 79.06 yen.
German equities moved higher on Monday, recovering after sharp losses on Friday. Meanwhile, market players are cautious ahead of Mario Draghi speech scheduled later in the day. Weaker-than-expected reading of the Eurozone's current account capped gains in German stocks. The DAX Index added 0.12% and is currently trading at 7,602.30. Six out of nine industries advanced. The top-performers were utilities
UK stocks are trading in the red area on Monday ahead of the ECB President Mario Draghi speech due later in the day. Fears over deepening recession in the Eurozone continued to weigh on UK equities. The FTSE 100 Index slumped 0.19% to trade at 6,316.43. Only two in ten industries climbed. Utilities and consumer goods were the only gainers,
Palm oil appreciated on Malaysia, the second-largest supplier after Indonesia, may increase exports in February before imposition of a tax in March. April-delivery palm oil advanced 1.5% to 2,519 ringgit ($813) a metric ton in Malaysia. Last week palm oil futures fell 3% to 2,483 ringgit a metric ton, the weakest level at close since January 29. The tax of
Hong Kong shares dropped on Monday, tracking losses in China's mainland's markets that re-opened after a long Lunar New Year holiday. However, strong performance of Japanese counterparts supported Hong Kong equities. The Hang Seng Index dipped 0.27% to end the session at 23,381.94. Only four in nine sectors included in the index posted gains. Industrials and consumer services advanced the
Japanese stocks soared on Monday after Japan escaped a criticism by G20 of its aggressive monetary easing measures. The gains also came ahead of naming the BoJ new governor that is expected to happen this weekend. The Nikkei 225 Index jumped 2.09% to close at 11,407.87. All industries within the index rose. The top-performers were financial and technology shares. Among
Dow managed to close in the positive area on Friday amid mixed US data. US industrial production unexpectedly slumped last month, while US consumer confidence rose more than expected in January. Speculation that the Fed may stop its accommodative monetary measures also weighed on the US equities. The Dow Jones Industrial Average Index added 0.06% to end the week at
US equities closed lower on Friday after the Fed Chairman speaking at G20 meeting stated that US economy is recovering. These comments were perceived as hint that the Fed may stop its bond-buying program, creating a downward pressure on risky assets. The S&P 500 Index lost 0.11% to close at 1,519.79. A half of the industries included in the index
Aluminum in London showed the biggest decline in 3 weeks on reopening of markets in Shanghai after a week break and on supplies from China are forecast to increase. May-delivery aluminum dropped 1.2% to $2,143 a metric ton in London, the biggest loss since January 25, after reaching $2.174 a metric ton on February 15, the strongest level in six
The seasonally adjusted current account of the euro area recorded a surplus of €13.9 billion in December 2012, after plummeting from €15.9 billion the previous month. The trade surplus is welcomed in the Eurozone, because it indicates that region's exports outweigh imports, which theoretically should provide an increase in its economic output.Taking into account the whole 2012, net inflows of
The Pound declined to the weakest level against the U.S. Dollar since July 13 on Martin Weale, policy maker of BOE, announced the U.K. exports may increase if Sterling depreciates. The U.K. currency fell versus 13 of 16 main counterparts, extending last week's decline. The Pound lost 0.3% against the U.S. Dollar and traded at $1.5474, following decline to $1.5438,
Australia's Dollar was 0.4% from the lowest level in more than two years against the New Zealand counterparts ahead of minutes of the RBA's meeting are released tomorrow on prospects of lower borrowing costs. The Aussie bought NZ$1.2198 at 5:07 p.m. in Sydney after touching NZ$1.2143 on February 15, the lowest since July 2010. The currency fell 0.1% to $1.0294
The South Korean Won declined for the first time in a week after the Yen dropped following G20 meeting that added to concern Korea will take measures to weaken the nation's currency to support exporters. The Won lost 0.4% to 1,082.10 per greenback in Seoul, after gaining 1.6% last week, the biggest 5-day advance since December 2, 2011.
The Japanese Yen declined versus the U.S. Dollar, prolonging its losses that made the Yen the worst-performing currency in the past 3 months, as G20 opt out censuring Japan's policies driving the drop. The currency weakened 0.5% to 93.96 per U.S. Dollar at 6:51 a.m. in London. It fetched 94.46 on February 11, the lowest level since May 2010.
Farm commodities were mixed on Friday, with grains advancing and softs retreating. Grains were boosted by the recent USDA export report and uncertainty over weather conditions in Argentina. At the same time, worries over ample global coffee and sugar supplies continued to push softs lower. Wheat climbed, drawing strength from the recent USDA report that showed the US wheat exports reached
Energy futures ended Friday's session in the red territory despite speculation that the OPEC may cut crude oil shipments this month. The commodity group came under heavy selling pressure amid weak industrial numbers from the US and profit-taking ahead of the Presidents' Day holiday in the US. Crude oil was the top-loser, diving on soft industrial production figures from the
Industrial metals were mixed on Friday amid global economic data releases. The trade balance in the Eurozone expanded more than expected last quarter, while US industrial production declined 0.1% last month compared to a forecast of 0.2% increase. Aluminum continued its rally on hopes for stronger global demand. Norilsk Nickel expects the world's aluminum production to climb 2% to 4%
Precious metals plunged on Friday amid speculation that the Fed may stop its easing measures soon. The Fed Chairman Ben Bernanke stated at the G20 meeting that despite high unemployment the US economy is recovering. Adding pressure, Ben Bernanke's comments sent the US Dollar higher. Gold finished the week on the negative note on concerns that the Fed may end its
German stocks are trading in the negative area on Friday as market sentiment remained under heavy pressure after dismal GDP reading on Thursday. German economy contracted 0.6% in the final quarter of 2012, while analysts expected GDP to shrink by 0.5%. However, losses were capped by upbeat reading of the Eurozone's trade balance. The trade balance of the Eurozone unexpectedly
UK equities are trading lower on Friday as market players are cautious before the outcome of a G20 meeting. Pushing shares lower, UK retail sales unexpectedly declined last month. Retail sales slumped 0.6% in January, compared to a forecast of a 0.5% increase. The FTSE 100 Index slid 0.07% to trade at 6,322.92. Four industries climbed, with technology and telecommunication
Hong Kong shares moved higher on Friday despite broad weakness across Asian stock markets and dismal data from the Eurozone. Meanwhile, trade was subdued as mainland's markets were closed for Lunar New Year holiday. The Hang Seng Index added 0.13% to close at 23,444.56. Six out of nine industries included in the index were bullish. The top-performers were consumer services
The Russian Ruble depreciated by 0.2% to 34.6891 versus the basket during Moscow trading session on Friday and was close to the highest level in two months. The Ruble retreated form the zone, where the central bank should intervene to ease currency's gains. The increasing oil prices push the Ruble up, what makes the central bank to buy foreign currencies:
The Norwegian Krone slipped by 0.6% against Euro and 1.4% versus U.S. Dollar as Governor Oeystein Olsen said that Norges Bank might cut the key interest rate to ease the Krone gains. The Krone gets too strong and pushes inflation down, what is negative for the domestic economy, thus the central bank is ready to lower rates to ease the excessive Krone gains and