News on 10 dezembro 2013

20:00

Dow 15,988.03 -37.50 -0.23%, Nasdaq 4,063.08 -5.67 -0.14%, S&P 500 1,803.96 -4.41 -0.24%

19:21

American focus : the euro and the yen rose against the dollar

The euro is on a six-week high against the dollar due to the reduced likelihood of tighter monetary policy. Even if Fed officials decide to start reducing asset repurchase at a meeting in December , it will probably be a small change , in order to avoid the sale of the bond market , which could increase the long-term interest rates and to strike at the U.S. housing market .

At the same time , rising expectations create a " banking union " in the euro area in 2014 , with the possibility to close the banks are going bankrupt , support the euro. The decision to create a " banking union " can be taken before the end of the year.

At a meeting of EU finance ministers in Brussels will likely be made steps towards establishing a " banking union ." It is considered as a key factor in strengthening the eurozone ahead of a possible future debt or financial crisis.

Factors are reducing the dollar falls in expectations for the reduction of "quantitative easing" this month and reduced Treasury yields , which makes the dollar less attractive asset .

The euro exchange rate fell slightly earlier against the dollar , on what influenced weak report on industrial production in France. Data from the National Bureau of Statistics Insee showed that industrial production in France unexpectedly fell in October , registering with the second monthly decline in a row, which is another sign of a weak start to the last quarter of 2013 in the euro area .

According to the report , industrial production in the second largest economy in the eurozone fell in October by 0.3 % on a monthly basis , which followed after a similar drop in September. Analysts had expected growth in October by 0.2%. Reduction in October confirms steady downtrend issue in the industrial sector . Falling for the three months to October was 0.6 % compared with the previous three-month period .

The yen rose against the U.S. dollar , which was associated with the publication of data on Japan. Despite today's pullback , the couple grows 7th consecutive week against the backdrop of risk appetite , which activates sell yen . As for the reports , orders for machinery and equipment in Japan increased by 15.4 % y / y in November , nearly doubling the October value of 8.4%.

Meanwhile, it became known that the level of consumer confidence in Japan improved in November , but less than economists had forecast .

The unadjusted consumer confidence index , which excludes households with one person was in the last month of 41.9 points, compared with 41.2 in October. Economists expected the index to rise to the level of 44 points .

Sub- index of overall confidence rose to 39.1 in November from 37.7 a month earlier. At the same time , the sub- index , which assesses the expectations regarding the growth of household income rose to 39.1 from 38.1 . We also add that consumers' willingness to buy durable goods was less positive in November - the corresponding indicator fell to 42.4 from 42.9 in October. Employment sub-index rose to 47.1 from 46.1 .

Pound traded mixed against the dollar , which is primarily due to the release of data on Britain. The Office for National Statistics reported that industrial production in the UK rose in October , while the figures for international trade continued to disappoint , highlighting the challenges facing policy-makers who are eager to see the rebalancing of the UK economy on the export of consumer spending.

The report showed that production in the manufacturing sector rose by 0.4 % between September and October , which helped increase the total volume of industrial production by 0.4%. I also add that the production in the manufacturing sector turned in October by 2.7 % higher than the same period a year earlier , which allowed to fix the largest annual growth rate since May 2011.

Led growth activity was the production of cars, airplanes and other vehicles , which in October reached its highest level since the beginning of research in 1968 , said the Office for National Statistics .

But the rise in industrial production in October was not reflected in the UK trade figures . Although the UK deficit in trade in goods with the rest of the world fell in October to 9.7 billion pounds, he was bigger than analysts had expected - at 9.2 billion pounds .

In addition , we add that the deficit in trade in goods for September was revised up to 10.1 billion pounds from 9.8 billion pounds . We also learned that the UK deficit in trade in goods with the European Union set a new record in October - at 6.5 billion pounds .

18:20

European stocks close

European stocks fell, snapping two days of gains, before a Federal Reserve meeting next week that may give clues on when it will reduce its stimulus.

The Federal Open Market Committee will probably start slowing its $85 billion in monthly bond purchases at its Dec. 17-18 meeting, according to 34 percent of economists surveyed Dec. 6 by Bloomberg, an increase from 17 percent in a Nov. 8 survey. The central bank has said it may reduce its stimulus if the economy improves as forecast.

Industrial production in the U.K. increased 0.4 percent in October from the previous month, the Office for National Statistics said. It climbed 0.9 percent in September. The October gain matched economists’ estimates.

National benchmark indexes dropped in 12 of the 18 western European markets. The U.K.’s FTSE 100 lost 0.6 percent, while France’s CAC 40 retreated 1 percent and Germany’s DAX dropped 0.9 percent.

Gauges of auto companies and technology shares posted the biggest declines among 19 industry groups in the Stoxx 600. PSA Peugeot Citroen lost 5.1 percent to 11.61 euros and Nokia Oyj dropped 2.4 percent to 5.77 euros.

Vopak slipped 2.1 percent to 41.74 euros after saying it probably won’t reach its goal of 1 billion euros ($1.37 billion) in earnings before interest, taxes, depreciation and amortization in 2016, citing a lack of clarity on the timing of new, profitable projects. The world’s biggest chemical- and oil-storage company forecasts 2013 Ebitda excluding one-time items of about 750 million euros.

Victrex surged 4.2 percent to 1,631 pence. The U.K. maker of heat-resistant plastics for auto, energy and health-care companies proposed a final dividend of 32.65 pence, surpassing the Bloomberg Dividend forecast of 31 pence. Victrex said in a preliminary report full-year revenue rose to 221.9 million pounds ($364.5 million), compared with the average analyst estimate of 221.8 million pounds.

CGG climbed 2.3 percent to 14.67 euros. Raymond James Financial Inc. raised its recommendation on the world’s biggest seismic surveyor of oilfields to outperform, similar to buy, from market perform. The brokerage cited marine contracts that CGG won and the potential for client works in Brazil.

17:01

European stocks closed in minus: FTSE 100 6,523.31 -36.17 -0.55 %, CAC 40 4,091.14 -42.96 -1.04 %, DAX 9,114.44 -80.73 -0.88 %

16:42

Oil rose

West Texas Intermediate crude rose to a six-week high on projections of a second consecutive drop in U.S. inventories. The spread between WTI and Brent oil from the North Sea tightened to the narrowest in a month.

Futures climbed as much as 1.4 percent in New York. A government report tomorrow will probably show crude supplies slipped by 3 million barrels last week, according to the median of nine analyst responses in a Bloomberg survey. The Brent-WTI spread has shrunk more than $8 since Nov. 27. A Libyan security official said today that three oil ports will reopen Dec. 15.

WTI for January delivery rose 51 cents, or 0.5 percent, to $97.85 a barrel at 11:06 a.m. on the New York Mercantile Exchange. The contract touched $98.74, the highest level since Oct. 28. The volume of all futures traded was 5.1 percent above the 100-day average.

Brent for January settlement slipped 73 cents, or 0.7 percent, to $108.66 a barrel on the London-based ICE Futures Europe exchange. The volume of all futures traded was 57 percent higher than the 100-day average.

16:20

Gold continues to rise

The price of gold rises the third consecutive session , as a weakening dollar boosted demand for the metal from foreign buyers . Meanwhile, investors are waiting for the meeting of the U.S. Federal Reserve , which will be held next week.

Gold prices also got support from several Fed leaders comments on monetary policy made the previous day , while some investors decided that the policy shift less close than previously assumed .

Fed President Bullard St. Louis said that the recent improvement in the labor market are paving the way for the Fed to cut incentives.

Fed President Jeffrey Lacker , Richmond said that although economic growth in the U.S. is unlikely to significantly accelerate in the next year , the central bank can do little more to support growth .

Yet statements by the Fed helped ease fears about the rapid collapse stimulate the U.S. central bank for the two-day meeting to be held December 17 and 18 .

Experts note that a large proportion of traders are betting that gold prices will fall , if the central bank will reduce the purchase of bonds in December , and gold prices rose when some of these investors have closed these positions in the last days .

Cost fervalskogo gold futures on the COMEX today rose to $ 1267.50 per ounce.