Shinzo Abe, Japan's Prime Minister, gestures as he speaks during a news conference at... Read More
The U.S. currency gained 0.6 percent to 117.56 yen at 10 a.m. in London. The Stoxx Europe 600 Index added 0.1 percent and Standard & Poor’s 500 Index futures (SPX) slipped 0.1 percent after the gauge closed at a record. The pound appreciated 0.2 percent to $1.5661, reversing a 0.3 percent slide, after Bank of England minutes showed some policy makers raised concern about
potential inflation pressures. Brent oil rose 0.5 percent and iron ore tumbled to the lowest level in more than five years.
While the Fed cited an improving job market at its October meeting, policy makers maintained a pledge to keep rates low for a “considerable time.” Bank of Japan Governor Haruhiko Kuroda warned inflation could fall below 1 percent after Prime Minister Shinzo Abe called an early election and postponed a sales-tax increase yesterday.
Fed “minutes could be quite positive from an economic view,” said Birgit Figge, a fixed-income strategist at DZ Bank AG in Frankfurt. “It could be a negative surprise for the Treasuries market.”
The Bloomberg Dollar Spot Index has gained 7.6 percent this year on speculation the Fed is moving closer to raising interest rates. Central bank officials, including New York Fed President William C. Dudley, have said they expect to raise U.S. borrowing costs next year. The yield on the 10-year Teasury note was little changed at 2.32 percent.
European Stocks
Commodity producers and oil and gas companies fell the most among 19 industry groups in the Stoxx 600. Rio Tinto Group slipped 1.8 percent. BG Group Plc retreated 1.5 percent after , people familiar with the process said its planned sale of the largest operations in the North Sea has stalled.ICAP Plc lost 6.5 percent after the world’s largest broker of transactions between banks said pretax profit fell 10 percent in the first half of its fiscal year. Royal Mail Plc (RMG) dropped 4.7 percent after reporting earnings and announcing a dividend lower than analysts had estimated.
Gamesa Corporacion Tecnologica SA climbed 1.8 percent after signing wind contracts. Abengoa SA rallied for a third day, up 4.8 percent.
The volume of Stoxx 600 shares changing hands today was 31 percent lower than the 30-day average, according to data compiled by Bloomberg.
Target, Staples
Futures on the S&P 500 expiring in December slid after the index jumped the most since Nov. 5 yesterday. It has rebounded 10 percent from last month’s low.Target Corp., Staples Inc., Lowe’s Cos. and L Brands Inc. are among companies reporting results today. About 79 percent of the S&P 500 companies that have reported earnings this season have beaten analyst estimates for profit, while 59 percent exceeded sales projections, data compiled by Bloomberg show.
The MSCI Emerging Markets Index slipped 0.2 percent. The Hang Seng China Enterprises Index of Chinese companies listed in Hong Kong retreated 1.9 percent and the Shanghai Composite Index swung to a loss of 0.2 percent.
Hong Kong Exchanges & Clearing Ltd., the best-performing stock on the Hang Seng Index (HSI) this year, dropped 4.5 percent.
One Way
The 13 billion yuan ($2.1 billion) daily quota for international investors buying China shares was filled by 1:57 p.m. in Hong Kong. That compares with just 14 percent of the allowance for purchases of Hong Kong shares by investors in mainland China. When the daily quotas are used up, buying through the program is halted for the day.Russia’s Micex Index slipped 0.1 percent and the ruble was little changed. Russia is returning to the local bond market after a six-week absence, with its smallest sale in 14 months.
Iron ore with 62 percent content delivered to Qingdao, China lost 4.4 percent to $71.80 a dry ton, the lowest since June 2009, according to Metal Bulletin Ltd. yesterday. Declining home prices in China added to concern that a slowdown in the world’s top buyer of ore will exacerbate a supply glut.
No comments:
Post a Comment