European stocks were little changed at a one-week high as companies from Eni SpA to Volkswagen AG posted profit that exceeded estimates, while a gauge of telecommunications companies retreated.
U.S. companies added 130,000 workers in October, fewer than the 150,000 median projection in a survey of economists, according to a report from the ADP Research Institute today. That was the lowest reading since April. Businesses hired a net 145,000 people in September.
The Federal Open Market Committee meets for a second day to discuss monetary policy. The 16-day shutdown of the U.S. government earlier this month will reduce economic growth by 0.3 percentage points this quarter at an annual rate, according to a survey of economists. The central bank will probably delay lowering its $85 billion in monthly bond purchases until March 2014, economists forecast in the survey. The Fed announces its decision after European markets close.
National benchmark indexes dropped in nine of the 18 Western-European markets. The U.K’s FTSE 100 rose less than 0.1 percent, while France’s CAC 40 and Germany’s DAX Index dropped 0.1 percent.
Eni rose 1.3 percent to 18.35 euros after the Italian oil producer posted adjusted net income of 1.17 billion euros ($1.6 billion) for the third quarter, more than the 998 million euros that analysts had predicted for the period.
Volkswagen gained 5 percent to 183.50 euros after posting quarterly earnings before interest and taxes that jumped 20 percent to 2.78 billion euros. That exceeded the average analyst estimate of 2.72 billion euros.
TomTom advanced 3.4 percent to 6.10 euros. The company forecast adjusted earnings of 25 euro cents a share this year. It had projected 20 euro cents apiece. TomTom also said that this year’s sales will approach the upper end of its 900 million euros to 950 million euros range.
Belgacom declined 5.3 percent to 20.51 euros. Telenet Group Holding NV, which competes with Belgacom in Belgium, cut its prices for mobile-phone tariffs. A gauge of telecommunications stocks fell 0.8 percent for the second-worst performance among 19 industry groups on the Stoxx 600.
West Texas
Intermediate crude decreased, extending a second monthly loss, after a
government report showed that
Futures
fell as much as 1.4 percent after the Energy Information Administration said
stockpiles rose 4.09 million barrels to 383.9 million last week. A 2.4
million-barrel gain was projected in a Bloomberg survey. The EIA, the Energy
Department’s statistical arm, said supplies at
WTI for
December delivery declined 84 cents, or 0.9 percent, to $97.36 a barrel at
11:34 a.m. on the New York Mercantile Exchange. The contract traded at $97.15
before the release of the report at 10:30 a.m. in
Brent for
December settlement rose 44 cents, or 0.4 percent, to $109.45 a barrel on the
London-based ICE Futures Europe exchange. Volume was 26 percent below the
100-day average. The European benchmark traded at an $12.09 premium to WTI, up
from $10.81 yesterday.
Gold prices rise as investors bet on the continuation of the Fed's stimulus policy favorable to the growth of prices.
Prices rose by 7 per cent compared to October 15 marked three-month low due to investors' hopes that the recent debate on the budget in Washington will force the Fed to keep the program of bond purchases in the current level of $ 85 billion a month. The Central Bank will announce the results of the two-day meeting tonight.
According to experts, gold has always been a commodity asset, the most independent of the Fed's decision to reduce the purchase of bonds. The outcome of the Fed meeting depends on whether investors will withdraw money from the market or will be price increases .
Prices have risen in China , completing the previous trading at a discount to international prices for the first time since the beginning of the year, as investors would like to get the money for fear of tightening credit conditions. Extra charges in India are still close to a record due to the reduction of supply.
The cost of the December gold futures on COMEX today rose to $ 1359.60 per ounce.
USD/JPY Y97.10, Y97.35, Y98.00, Y98.15, Y98.20, Y98.25, Y98.50, Y99.00
EUR/USD $1.3650, $1.3675, $1.3725, $1.3730, $1.3735, $1.3750, $1.3800
GBP/USD $1.6000, $1.6010, $1.6020, $1.6050, $1.6080, $1.6085
EUR/GBP stg0.8540
USD/CHF Chf0.8900, Chf0.8950
AUD/USD $0.9450, $0.9475, $0.9500, $0.9600
USD/CAD C$1.0415, C$1.0450, C$1.0500
U.S. stock-index futures advanced as investors awaited the outcome of the Federal Reserve’s policy meeting.
Global Stocks:
Nikkei 14,502.35 +176.37 +1.23%
Hang Seng 23,304.02 +457.48 +2.00%
Shanghai Composite 2,160.46 +31.60 +1.48%
FTSE 6,794.16 +19.43 +0.29%
CAC 4,296.12 +18.03 +0.42%
DAX 9,041.83 +19.79 +0.22%
Crude oil $97.33 -0.89%
Gold $1355.10 +0.71%
Data
07:00 Switzerland indicator of consumer activity from UBS September 1.32 1.56
08:00 Switzerland index of leading economic indicators from the KOF October 1.53 1.56 1.72
08:55 Germany Changing the number of unemployed 25 September January 2
08:55 Germany Unemployment rate in September , seasonally adjusted 6.9 % 6.9 % 6.9 %
10:00 Eurozone business sentiment in October Revised to -0.19 -0.20 -0.18 -0.01
10:00 Eurozone Economic Sentiment October 96.9 97.2 97.8
10:00 Eurozone business optimism in the industry in October -6.7 -6.5 -4.8
12:15 U.S. Change ADP Employment Oct. 166151130
12:30 USA Consumer Price Index m / m in September +0.1 % +0.2 % +0.1 %
12:30 USA Consumer Price Index y / y in September +1.5 % +1.8 % +1.2 %
12:30 USA Consumer Price Index, the base value , m / m in September +0.1 % +0.2 % +0.2 %
12:30 USA Consumer Price Index, the base value , y / y in September +1.8 % +1.8 % +1.7 %
The euro exchange rate previously lost positions gained against the dollar, but in spite of this, continues to trade slightly higher .Note that initially the euro have supported the mixed employment data in Germany, as well as a positive report on the level of business and consumer confidence .
It is learned that the unemployment rate seasonally adjusted rose to a record in June 2011 values , while the unemployment rate / p remained near record levels recorded before the reunification of Germany. In October, the unemployment rate fell by 47 800, while the total number of unemployed amounted to 2,801 million - with at least November 2012 . Index seasonally adjusted increased by 2 million , and the unemployment rate / p remained at 6.9%.
In the future, the German labor market is unlikely to show improvement , given the policy of the minimum wage , which was one of the key demands of the Social Democratic Party to form a grand coalition with the party of Merkel.
As for the report on the euro area , it showed that the sentiment indicator in the economy, which is a sensor sentiment among consumers and businesses, rose to 97.8 in October , up from 96.9 in September , while showing the highest value with August 2011 . Note that the level of confidence has increased among households and enterprises , but on the decline among retailers , service providers and construction firms.
However , we note that even weak reports on the U.S. ( by number of employees and the consumer price index ) , which were presented earlier, could not prevent the strengthening of the dollar as market participants are waiting for the announcement of the results of the two-day meeting of the Fed . Given the poor performance of the labor market and potrebdoveriyu , markets are confident that the Committee will keep the tone of the pigeon .
The Swiss franc rose against the dollar , which helped to data released today by Switzerland. The latter study , which were presented by the bank UBS, have shown that the consumption indicator for Switzerland has grown substantially in the last month, which basically helped increase sales of new cars, the recovery in the tourism sector and the retail sector . According to the report , consumption indicator rose in September to a level of 1.56 points, compared with 1.32 in August.
In addition, studies have revealed that the number of new car registrations rose again in September , reaching a level with 22600 units, and showing the second-best result in the last 10 years. We also add car sales increased by 7 percent compared with the same month of the previous year.
Experts UBS also reported that the positive trend in the retail sector continued in September, after a significant improvement in August , against which the value of the relevant index has increased to the level of six points, while showing the best results in the retail sector since June 2011 .
Tourism also seems to have recovered from the recession with the beginning of the year , the bank noted . The data showed that the number of overnight stays of Swiss citizens turned out in September, about 1.8 percent more than the same period last year.
Meanwhile, we add that Credit Suisse published October KOF barometer of the economic situation pointed to solid growth in gross domestic product of Switzerland in the third quarter - it rose to 1.72 from 1.53 .
EUR / USD: during the European session, the pair rose to $ 1.3777 , then dropped to $ 1.3750
GBP / USD: during the European session, the pair rose to $ 1.6077
USD / JPY: during the European session, the pair fell to Y98.06, before returning to Y98.20
At 18:00 GMT the United States planned publication of the FOMC decision on the basic interest rate , and the output of the accompanying statements of FOMC. At 20:00 GMT New Zealand RBNZ will announce its decision on the basic interest rate , and will release the accompanying statement . At 21:45 GMT New Zealand will report on changes in the volume of building permits issued in September
EUR/USD
Offers $1.3850, $1.3830/35, $1.3810/15, $1.3800, $1.3770
Bids $1.3720, $1.3710/00, $1.3650
GBP/USD
Offers $1.6200/10, $1.6180, $1.6160/65, $1.6140/50, $1.6120, $1.6100/05, $1.6080
Bids $1.6025, $1.6000, $1.5980, $1.5950
AUD/USD
Offers $0.9645/50, $0.9620/25, $0.9600, $0.9575/80, $0.9545/50, $0.9520
Bids $0.9480, $0.9450, $0.9400, $0.9350
EUR/GBP
Offers stg0.8700, stg0.8650/55, stg0.8600/05, stg0.8585
Bids stg0.8555/45, stg0.8520, stg0.8505/00
EUR/JPY
Offers Y135.95, Y135.50, Y135.25/30
Bids Y134.50, Y134.20, Y134.00, Y133.55/50
USD/JPY
Offers Y99.00, Y98.80, Y98.59, Y98.50
Bids Y98.00, Y97.80, Y97.50, Y97.20
European stocks rose to their highest level in more than five years as companies from Eni SpA (ENI) to Volkswagen AG posted profit that exceeded estimates. U.S. stock-index futures and Asian shares also gained.
The Stoxx Europe 600 Index increased 0.5 percent to 322.33 at 8:55 a.m. in London. The equity gauge has advanced 3.8 percent this month as U.S. lawmakers agreed to lift the federal debt ceiling and investors speculated that a worse-than-forecast payrolls report would delay a reduction in the Fed’s bond-buying program.
A report from the ADP Research Institute will probably show that U.S. companies added 150,000 workers in October, according to economists surveyed. That would be the lowest reading since May. Businesses hired a net 166,000 people in September.
The Federal Open Market Committee meets for a second day to discuss monetary policy. The 16-day shutdown of the U.S. government earlier this month will reduce economic growth by 0.3 percentage points this quarter at an annual rate. The central bank will probably delay lowering its $85 billion in monthly bond purchases until March 2014, economists forecast in the survey. The Fed announces its decision at 2 p.m. in Washington.
Eni rose 3.2 percent to 18.68 euros after the Italian oil producer posted adjusted net income of 1.17 billion euros ($1.6 billion) for the third quarter, more than the 998 million euros that analysts had predicted for the period.
Volkswagen gained 4 percent to 181.80 euros after posting quarterly earnings before interest and taxes that jumped 20 percent to 2.78 billion euros. That exceeded the average analyst estimate of 2.72 billion euros.
TomTom advanced 3.9 percent to 6.13 euros. The company forecast adjusted earnings of 25 euro cents a share this year. It had projected 20 euro cents apiece. TomTom also said that this year’s sales will approach the upper end of its 900 million euros to 950 million euros range.
Sanofi (SAN) lost 1.6 percent to 76.89 euros. The company said in August that earnings per share would drop between 7 percent and 10 percent in 2013. The drugmaker also reported third-quarter earnings today that fell to 1.79 billion euros from 2.2 billion euros a year earlier as a manufacturing glitch in
FTSE 100 6,807.6 +32.87 +0.49%
CAC 40 4,298.76 +20.67 +0.48%
DAX 9,054.93 +32.89 +0.36%
USD/JPY Y97.10, Y97.35, Y98.00, Y98.15, Y98.20, Y98.25, Y98.50, Y99.00
EUR/USD $1.3650, $1.3675, $1.3725, $1.3730, $1.3735, $1.3750, $1.3800
GBP/USD $1.6000, $1.6010, $1.6020, $1.6050, $1.6080, $1.6085
EUR/GBP stg0.8540
USD/CHF Chf0.8900, Chf0.8950
AUD/USD $0.9450, $0.9475, $0.9500, $0.9600
USD/CAD C$1.0415, C$1.0450, C$1.0500
Asian stocks rose, driving the regional benchmark index toward the biggest back-to-back monthly advance since February 2012, after profit climbed at Daiwa Securities Group Inc. and China Petroleum & Chemical Corp.
Nikkei 225 14,502.35 +176.37 +1.23%
Hang Seng 23,304.02 +457.48 +2.00%
S&P/ASX 200 5,430.85 +15.33 +0.28%
Shanghai Composite 2,160.46 +31.60 +1.48%
Daiwa, Japan’s second-largest brokerage, advanced 3.8 percent.
FKP Property Group gained 4 percent after a shareholder sold shares in the Australian real-estate firm for a higher price than yesterday’s close.
China Petroleum & Chemical, known as Sinopec, climbed 2 percent in Hong Kong after third-quarter profit surged 20 percent, beating estimates.
GOLD 1,345.20 -6.80 -0.50%
OIL (WTI) 98.27 -0.41 -0.42%
Nikkei 225 -0,49 -70,06 14,325.98%
Hang Seng 22,846.54 39,96 0,18%
S & P / ASX 200 5,415.53 -25.88 -0.48%
Shanghai Composite -5,01 -0,23 2,128.86%
FTSE 100 6,774.73 +48.91 +0.73%
CAC 40 4,278.09 +26.48 +0.62%
DAX 9,022.04 +43.39 +0.48%
Dow 15,680.41 +111.48 +0.72%
Nasdaq 3,952.34 +12.21 +0.31%
S&P 500 1,771.96 +9.85 +0.56%
(pare/closed(00:00 GMT +02:00)/change, %)
EUR/USD $1,3746 -0,29%
GBP/USD $1,6046 -0,58%
USD/CHF Chf0,8985 +0,33%
USD/JPY Y98,19 +0,51%
EUR/JPY Y134,98 +0,23%
GBP/JPY Y157,55 -0,06%
AUD/USD $0,9479 -0,97%
NZD/USD $0,8258 -0,48%
USD/CAD C$1,0467 +0,22%
07:00 Germany Gfk Consumer Confidence Survey November 7.1 7.3
07:00 Switzerland UBS Consumption Indicator September 1.32
08:00 Switzerland KOF Leading Indicator October 1.53 1.56
08:55 Germany Unemployment Change September 25 1
08:55 Germany Unemployment Rate s.a. September 6.9% 6.9%
10:00 Eurozone Business climate indicator October -0.20 -0.18
10:00 Eurozone Economic sentiment index October 96.9 97.2
10:00 Eurozone Industrial confidence October -6.7 -6.5
12:15 U.S. ADP Employment Report October 166 151
12:30 U.S. CPI, m/m September +0.1% +0.2%
12:30 U.S. CPI, Y/Y September +1.5% +1.8%
12:30 U.S. CPI excluding food and energy, m/m September +0.1% +0.2%
12:30 U.S. CPI excluding food and energy, Y/Y September +1.8% +1.8%
14:30 U.S. Crude Oil Inventories October +5.3
18:00 U.S. Fed Interest Rate Decision 0.25% 0.25%
18:00 U.S. FOMC Statement
20:00 New Zealand RBNZ Interest Rate Decision 2.50% 2.50%
20:00 New Zealand RBNZ Rate Statement
21:45 New Zealand Building Permits, m/m September +1.4%
23:15 Japan Manufacturing PMI October 52.5