Dow Jones Industrial Average Index weakened rapidly on Friday, weighted down by renewed worries on Greece rescue plan. Blue chip index slumped 0.7% or 89.23 points to 12,801.23 with 29 of 30 companies posting declines. Alcoa led the drop, tumbling 3.3% and Caterpillar lost 1.9% as investors sold stocks of firms most linked to economic growth. Among main decliners were
Asian markets advanced on Monday after Greek parliament voted in favour of nation's austerity plan. Japan's Nikkei Stock Average added 0.58%, South Korea's Kospi gained 0.6% and Australia's S&P/ASX 200 index surged 0.9%. Hong Kong's Hang Seng Index soared 0.5% but Shanghai Composite Index was the only of the leading Asian indexes that traded flat.
S&P 500 index fell sharply on Friday as European finance ministers blocked bailout funding for Greece until parliamentary approval of austerity plan. S&P 500 index dropped 0.7% or 9.31 points to 1,342.64 with all 10 industries posting losses. NYSE Euronext jumped 4.5% after its revenue and profit outperformed Wall Street expectations. First Solar tumbled 10.5% after the firm announced a
In January US government deficit was USD 27.4 billion. Receipts totalled USD 234.3 billion while expenditure summed up to 261.7 billion. Overall January monthly shortfall was USD 22.4 billion less compared to January 2011. Although the deficit has decreased substantially, it still will be around 7% of GDP this year.
US trade deficit broadened 3.7% in December, reaching USD 48.8 billion, a record high since June. Economists questioned by Marketwatch predicted a deficit increase equal USD 48.5 billion. In total for year 2011, the deficit was USD 558 billion or 11.6% higher than in 2010. Exports added 14.5% to USD 2.1 trillion while imports of services and goods climbed 13.8%
US shares fell on Friday, making the biggest daily decline in 2012 as investors digested news EU finance ministers postponed rescue package until legal implementation of austerity plan. S&P 500 index dropped 0.7% or 9.31 points to 1,342.64, Dow Jones Industrial Average index also slipped 0.7% or 89.23 points to 12,801.23 and Nasdaq Composite lost 0.8% or 23.35 points to
US customer confidence fell more than predicted in early February as improving employment data did not manage to offset worries about steady wages. The consumer sentiment index, estimated by Thomson Reuters/University of Michigan decreased from 75 last month to 72.5 in February. Analysts earlier predicted the index to be at 74.8. The unexpected drop is associated with the surge in crude price
New Zealand and Australian currencies strengthened on Monday, erasing three sessions' drop after Greek parliament approved austerity plan. Australian Dollar gained 0.6% against greenback to USD 1.0739 while its New Zealand peer climbed 0.9% to USD 0.8342. Currently AUD/USD is trading at USD 1.0746 and NZD/USD is trading at USD 0.8343.
Gold futures to be delivered in April gained 0.3% or USD 5.40 to USD 1,730.70 per ounce during Monday session at the Comex division of the New York Mercantile Exchange. Silver for March climbed 0.8% or USD 0.26 to $33.87 per ounce while copper to be delivered in March soared 0.9% or USD 0.04 to USD 3.90. April platinum appreciated
The number of Australia's house loan approvals surged in December to a 7-month record high as home buyers reacted to Reserve Bank of Australia's interest rate cut. Approved home loans gained 2.3% compared to 1.8% increase in November. Economists questioned by Bloomberg predicted an expansion of 1.8%. Australian central bank lowered its key interest rate to 4.25% in November.
Crude to be delivered in March surged 0.9% to USD 99.58 per barrel on Monday Asian trading session at the New York Mercantile Exchange, after investors anticipated news Greece has approved the austerity plan. Oil futures were also supported by weaker US Dollar. Gasoline for March delivery also climbed 0.9% to USD 3.00 per gallon.
European markets showed weak performance on Friday, fuelled by Greek concerns. Stoxx Europe 600 index fell 0.9% to 261.24, Athens General Index plunged 3.2% to 797.35, while German DAX index fell 1.4% at 6,692.96. British FTSE 100 index lost 0.7% and closed at 5,852.39 and French CAC 40 slumped 1.5% and finished at 3,373.14.
Japan's economy contracted 2.3% in the last quarter of 2011, more than analysts expected as declining exports hampered a rebound from March earthquake and Thailand floods. Economists questioned by Bloomberg earlier predicted a drop of 1.3%. Nevertheless analysts suggest Japan may gain momentum this year from improvements in US and reconstruction work across the country.
Japanese Yen weakened against 17-nation currency after Greek parliament approved austerity plan to secure bailout package from international lenders. Japanese currency dropped 0.4% against Euro to JPY 102.82 and lost 0.2% against greenback to JPY 77.60. Currently EUR/JPY is trading at JPY 102.83 and USD/JPY is trading at JPY 77.62.
Greek PM Papademos got majority support in parliamentary vote to approve austerity plan and secure the second bailout package. 199 parliament members voted in favour while 74 lawmakers voted against. On February 15 Euro Zone finance ministers will decide on approving EUR 130 billion aid for Greece. In the meantime thousands of rioters keep protesting against austerity measures in down town Athens.
German DAX 30 plunged on Friday, pushed down by financial shares and car makers after Euro-Zone finance ministers decided to defer a bailout package for Greece. Commerzbank tumbled 6% while Deutsche Bank fell 4%. BMW AG lost 2.9%, Volkswagen PFD dropped 3% while Daimler AG edged down 1.5%. Moreover Euro fell against greenback to USD 1.3177. At the moment of
UK FTSE index opened lower on Friday and extend losses during session after European officials said Euro area countries will not deliver EUR 130 billion rescue funding until Greece will not implement its austerity plan. National Grid Plc dropped 1.4% after JPMorgan Chase & Co. revised down its recommendation on the shares. The main gainer was Barclays Plc, which surged
Japan's Nikkei Stock Average traded lower on Friday amid renewed worries on Greece as European officials postponed delivering financial aid until the country will legally approve austerity measures. Nikkei 225 index lost 0.46% or 41.59 points and closed at 8,960.65. Sumitomo Mitsui Financial Group Inc declined 2.4% and Mitsubishi UFJ Financial Group Inc. dropped 2.8%. On positive side Toshiba Corp.
Dow Jones Industrial Average Index climbed slightly higher on Thursday as fewer Americans applied for unemployment benefits and Greece announced it finalized debt swap agreement. Blue chip index soared 0.05% or 6.51 points and closed at 12,890.46 with basic materials sector posting the biggest gains. United Technologies Corp was the main winner for the Dow index, surging 2.5% after the
Hong Kong's Hang Seng index tumbled on Friday, weighted down by latest developments in Greece, as European officials decided to suspend a bailout funding until Greece will not ratify its austerity plan. Hang Seng lost 1.08% or 226.15 points and closed at 20,783.86 with financial stocks providing most negative pressure. Agricultural Bank of China Ltd. fell 3.4%, Bank of Communications
US Dollar climbed against Euro Zone currency as Europe's finance minsters refused to provide bailout funding for Greece as long as Greek officials implement the austerity plan. Greenback appreciated 0.2% to USD 1.3258 in London morning trade and strengthened versus Japanese Yen to JPY 77.64. Currently EUR/USD is trading at 1.3203.
US stocks markets finished higher on Thursday after Greek officials said they have concluded the debt swap agreement and US unemployment claims fell more than expected last week. S&P 500 gained 0.15% and closed at 1,351.95, Nasdaq Composite added 0.4% and settled at 2,927.23. Dow Jones Industrial Average traded close to flat, edging up 0.05% to 12,890.46.
S&P 500 index extended gains on Thursday as Greece claimed it had concluded debt agreement and US jobless claims fell more than expected last week. US benchmark added 0.15% or 1.99 points and closed at 1,351.95, led by technology stocks. Akamai Technologies rallied 10.5% and Visa Inc. surged 3.8% after their earnings beat analyst projections. Apple Inc. jumped 3.5% after
Asian markets traded mostly lower on Friday after international creditors rebuffed Greek austerity plan until it will be ratified by the parliament. South Korea's Kospi edged down 1%, Australia's S&P/ASX 200 dropped 0.8% and Hong Kong's Hang Seng Index tumbled 1.1%. Japan's Nikkei Stock Average fell 0.6% while China's Shanghai Composite was the only stock index that managed to end