News on 28 fevereiro 2014

20:00

Dow +43.02 16,315.67 +0.26% Nasdaq -20.86 4,298.07 -0.48% S&P +2.54 1,856.83 +0.14%

19:20

American focus : the euro rose against the dollar significantly

The euro exchange rate rose sharply against the dollar , which was mainly due to the release of data on the euro area. Eurozone inflation was 0.8 percent for the third month in a row in February , showed preliminary estimate of Eurostat , published on Friday . Inflation is projected to slow down to was 0.7 percent. Inflation has remained below the target of the European Central Bank " below but close to 2 percent," the thirteenth consecutive month and is in the four-year low .

The unemployment rate in the euro area remained at 12 per cent from October , showed on Friday Eurostat data . Result is consistent with economists' expectations . In January, 19.17 million people were unemployed in the euro area . The number of people unemployed increased by 17,000 in December , while it fell by 67,000 in January 2013.

Also support euro was U.S. data from the National Association of Realtors (NAR), which showed that at the end of January, the number of pending home sales remained virtually unchanged . The report NAR said that the index of pending home sales rose last month by 0.1 percent - to 95.0 points , after falling 5.8 percent in December - to 94.9 points, which was revised to improve on - 8.7 percent . Economists had expected the index to rise more significantly , namely by 2.9 percent . Recall that open trade - a signed contract , but not yet closed . Usually takes four to six weeks to close a contract for the sale . Despite the modest monthly increase in the index of pending sales are now 9.0 percent below the January 2013 index ( at 104.4 points).

Pound rose against the dollar on housing data and potrebdoveriyu . UK consumer confidence remained unchanged in February at the highest level in more than six years , as personal financial expectations improved by expanding the background of economic recovery. The consumer confidence index remained unchanged at -7 in February , the highest level since September 2007 . Result noted significant improvement since last February , when the index reached -26 . The survey showed that two of the five indicators used to calculate the index , fell this month , the two sub-indices increased , and one remained unchanged.

Housing prices in the UK rose significantly more rapidly in February , with more than economists forecast . The housing price index rose by 9.4 per cent per annum, after increasing 8.8 percent in January. Economists had expected growth in February at 9 percent. Prices rose twelfth consecutive month. The rise in prices reflects an increase in demand for new homes , supported by record low interest rates , improving access to credit and rising consumer confidence . House prices in the UK averaged 177,846 pounds in February , which is higher than 176,491 pounds a month earlier .

18:20

European stock close

European stocks were little changed, with equities posting their biggest monthly gain since July, as Ukraine accused Russia of stoking tension on its territory and data showed U.S. fourth-quarter economic growth slowed more than estimated.

The Stoxx Europe 600 Index gained 0.1 percent to 337.55. The benchmark gauge rallied 4.7 percent in February as Federal Reserve Chair Janet Yellen pledged to follow her predecessor Ben S. Bernanke’s policy on economic stimulus. She told Congress any reduction in bond buying will be made in measured steps, based on economic data. The Fed has cut the size of the monthly purchases to $65 billion from $85 billion.

Lawmakers in Kiev approved Turchynov’s call for a session by the United Nations Security Council even as armed troops occupied Crimea’s main airport in Simferopol. The Russian involvement has fueled speculation of a partition of Ukraine between Russian-speaking and Ukrainian-speaking regions. Prime Minister Arseniy Yatsenyuk warned parliament of the growing threat of an economic collapse.

Crimea is the latest flash point in a violent conflict since November that led to the departure of Viktor Yanukovych as Ukraine’s president. At the core of the unrest is Ukraine’s future itself. Yanukovych chose ties with Russia, abandoning a closer association with the European Union that his detractors, who now run the interim government, favor.

The U.S. economy expanded at a slower pace in the fourth quarter than previously estimated. Gross domestic product grew at a 2.4 percent annualized rate from October through December, compared with the 3.2 percent gain estimated last month, revised figures from the Commerce Department showed. The median forecast called for a 2.5 percent increase.

A report from the National Association of Realtors at 10 a.m. New York time may show that contracts to buy previously owned homes rose in January for the first time in eight months. A gauge of pending house sales increased 1.8 percent last month, after dropping in December by the most since May 2010.

National benchmark indexes gained in 13 of the 18 western-European markets.

FTSE 100 6,809.7 -0.57 -0.01% CAC 40 4,408.08 +11.69 +0.27% DAX 9,692.08 +103.75 +1.08%

Erste Group Bank dropped 10 percent to 25.71 euros. Austria’s biggest bank make provisions for bad loans and said it expects operating profit to miss estimates this year.

Pearson fell 6 percent to 1,012 pence, its lowest price since January 2011. Adjusted operating profit fell 21 percent to 736 million pounds ($1.23 billion) in 2013. Sales rose 2.3 percent to 5.18 billion pounds, missing the 5.8 billion-pound estimate by analysts.

Bankia SA, the lender whose losses forced Spain to take a European bailout, retreated 4.3 percent to 1.51 euros. Spain sold 7.5 percent of Bankia to start recovering 22.4 billion euros ($30.7 billion) provided to recapitalize the bank.

Andritz AG added 5.7 percent to 45.42 euros. The world’s second-biggest maker of hydro-power turbines reported a loss for the fourth quarter of 12.2 million euros, narrower than the 19.8 million-euro loss projected by analysts.

17:00

European stock close: FTSE 100 6,809.7 -0.57 -0.01% CAC 40 4,408.08 +11.69 +0.27% DAX 9,692.08 +103.75 +1.08%

16:40

Oil: an overview of the market situation

Oil prices rose slightly , restoring previously lost ground. Slight pressure on the prices have U.S. data , which were worse than expected .

According to the report , the gross domestic product , the broadest measure of goods and services produced in the economy , rose to a seasonally adjusted annual rate of 2.4% in the last quarter of the year, compared with the initial estimate of 3.2%. About this Ministry of Commerce said on Friday . Economists had forecast a 2.6% increase .

U.S. economy grew in the third quarter of this year by 4.1 % , and the initial estimates for the fourth quarter increased hopes for higher growth , more rapid creation of new jobs and higher wages in 2014

However, pressure also had concerns about the upcoming spring season closing refinery maintenance : investors expect a reduction in oil demand in the U.S., which is the largest consumer of fuel in the world .

Meanwhile , we add that the fall in oil prices restrain currency market trends : euro on Friday rose to the maximum from the beginning of the year against the dollar . Commodities, the prices of many of which are expressed in U.S. dollars, usually rise in price after the weakening of the U.S. currency

"Oil does not respond as other markets risky assets due to winter and geopolitical issues in the Middle East . With the weather improved attractiveness of the market decline and the economic slowdown in China will only aggravate it . Prices should not be at this level " , - believes CEO of research firm Barratt's Bulletin in Sydney Jonathan Barrett .

April futures price for U.S. light crude oil WTI (Light Sweet Crude Oil) rose to $ 102.55 per barrel on the New York Mercantile Exchange (NYMEX).

April futures price for North Sea Brent crude oil mixture rose 17 cents to $ 108.95 a barrel on the London exchange ICE Futures Europe.

16:20

Gold: an overview of the market situation

Gold prices fell slightly , dropping below $ 1330 per ounce , but are on the way to its biggest monthly gain in seven months as persistent concerns over a slowdown in U.S. economic growth put pressure on the dollar.

Gold rose nearly 7 percent in February - the biggest increase since July , mainly due to weak data on the U.S. and China , and political and economic instability in Ukraine, which has raised the demand for the metal as a hedge against risk.

"In general , whether in Ukraine , economic data on the U.S. or concerns about China is likely there are many more reasons than it was six weeks ago , looking for gold ," said Nomura analyst Tyler Wade .

The dollar fell 0.5 percent against a basket of major currencies, mainly due to the strength of the euro after data on inflation in the euro area , which was higher than expected , easing pressure on the European Central Bank to ease monetary policy next week.

Gold also influenced the U.S. data . As it became known , the U.S. economy expanded at a slower pace than originally anticipated in late 2013 , becoming a sign of slowing growth against bad weather and weak foreign demand for American products .

Gross domestic product , the broadest measure of goods and services produced in the economy , rose to a seasonally adjusted annual rate of 2.4% in the last quarter of the year, compared with the initial estimate of 3.2%. About this Ministry of Commerce said on Friday . Economists had forecast a 2.6% increase .

U.S. economy grew in the third quarter of this year by 4.1 % , and the initial estimates for the fourth quarter increased hopes for higher growth , more rapid creation of new jobs and higher wages in 2014.

Instead, the economy seems to be back to its post-crisis path when overall growth remains stubbornly close to 2 %. Meanwhile, other recent indicators of consumer spending , job creation , industrial production and housing market began warning signs . While severe winter conditions may have exerted pressure and kept active , weak figures expressed concern about the strength of the economy at the beginning of the year.

Meanwhile, it became known that the situation in the physical market in Singapore has remained stable . Premiums for gold bars in Hong Kong fell to $ 1 per ounce from $ 1.70 last week, reflecting a drop in demand from China .

The cost of the April gold futures on the COMEX today dropped to $ 1325.60 per ounce.