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
Crude oil futures to be delivered in March closed higher on Thursday, prolonging their advance for a third consecutive session, as developments in Greece amid fall in U.S. unemployment claims boosted hopes for bigger oil demand. March crude futures advanced 1.1% or USD 1.13 and finished at USD 99.84 per barrel on the New York Mercantile Exchange. Weaker dollar also
One of the oldest British banks Barclays Plc posted a 16% decline in its profit as investment bank unit's revenue fell. Lender's net income in 2011 tumbled to GBP 3 billion (USD 4.74 billion) compared to GBP 3.56 billion in previous year. Economists predicted a drop to GBP 3.27 billion. Revenue at bank's securities unit fell 22%.
Gold futures to be delivered in April lost 0.4% or USD 7.70 and traded at USD 1,733.50on the Comex division of New York Mercantile Exchange. The drop came amid advance of US Dollar index as Euro and British pound depreciated on news Greece will not receive bailout package until austerity plan will not be legally implemented.
Australian currency weakened from close to 6-month high after RBA cut its predictions for inflation and GDP this year. Aussie fell 0.7% against greenback to USD 1.0714 and also gave up 0.7% against Japanese Yen to JPY 83.18. Meanwhile New Zealand Dollar lost 0.4% against its US peer to USD 0.8306 and tumbled 0.4% against Yen to JPY 64.50. Currently
Reserve Bank of Australia (RBA) cut its predictions for consumer price inflation and economic growth this year, giving lawmakers some scope to reduce interest rates in case the Australian economy decelerates rapidly. RBA lowered its annual GDP estimation from 4% to 3.5% and cut expectations for inflation rate from 3.25% to 3.0%. Figures are estimated based on current key interest
India's factory production grew less than expected in December, indicating weaker domestic demand amid global slowdown. The output at India's plants, mines and utilities added 1.8% on yearly basis compared to a 5.9% advance in November. Economists questioned by Bloomberg predicated a 2.6% improvement.
European stock markets closed higher on Thursday as Greece announced it reached consensus on austerity plan. Stocks were also supported by US jobs statistics. Stoxx 600 Europe added 0.2%, while German DAX index gained 0.6%. French CAC 40 advanced 0.4% and FTSE 100 climbed 0.3%.
British house prices fell to 6-months record high in January on concern about country's economy amid European debt woe. The average value of home in Whales and England dropped 0.2% compared to December, reaching GBP 218.992. On yearly basis house price declined 1.4%. Only in London annual value gained 3%. UK economy slipped 0.2% in 4th quarter of 2011.