Connect to share and comment

US stocks hit fresh record highs

US stocks closed at new all-time highs following a choppy day of trading Wednesday as investors shrugged off more economic gloom from the eurozone. The Dow Jones Industrial Average rose 60.44 (0.40 percent) to 15,275.69, setting a new record closing high for the second day in a row. The broad-based S&P 500 added 8.44 (0.51 percent) at 1,658.78, its fourth straight day of record closes, while the Nasdaq Composite Index increased 9.01 (0.26 percent) to 3,471.62. All three indices rose through the early afternoon, then retreated somewhat before staging a late rally.

Small euro coins may be dropped: EU

Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

Small euro coins may be dropped: EU

Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

Small euro coins may be dropped: EU

Small change in the euro, one and two-cent coins, expensive to make and a nuisance for many, may have no future, the European Commission said Tuesday. Small and awkward they may be: but they have cost the eurozone about 1.4 billion euros since 2002, the Commission said. The Commission outlined four possible scenarios for the coins, based on a cost-benefit analysis of their use -- the status quo, making cheaper versions, and a speedy or a gradual withdrawal. It said public attitudes are mixed overall.

EU industrial output up sharply in March

Industrial output in the 17-nation eurozone jumped a surprisingly strong 1.0 percent in March compared with February when it rose 0.3 percent, official data showed Tuesday. In the 27-member EU, industrial production was up 0.9 percent in March, again compared with 0.3 percent the previous month, the Eurostat data agency said. The biggest monthly gains were in bailed-out Portugal, up 5.3 percent and the Netherlands, up 4.5 percent, with Slovenia seeing the largest fall at 2.9 percent.

Asian stock markets mostly up on the heels of improving small business sentiment in the US

BANGKOK - Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday. The National Federation of Independent Business reported a slight improvement in confidence among small business owners in the U.S. in April. That helped boost the Dow Jones industrial average to close at a record high Tuesday. "A combination of further improvement of economic performance and low inflation in the US should keep risk appetite buoyant," said analysts at Credit Agricole CIB in Hong Kong in an email commentary.

Asian markets mixed, Tokyo soars on weak yen

Asian markets were mixed on Friday with Japanese stocks jumping to their highest level in over five years after the dollar surged above the 100 yen mark and US jobs data also boosting sentiment. Tokyo closed up 2.93 percent, or 416.06 points at 14,607.54, following the dollar's overnight topping of 100 yen for the first time since April 2009, underscoring the Japanese currency's sharp decline in recent months. The benchmark Nikkei 225 index had earlier soared 3.09 percent in mid-morning trade. Its close was the best since January 4, 2008 when it ended at 14,691.41.

TSX, NY markets fall amid disappointing data from China, weak US retail spending

TORONTO - The Toronto stock market slipped Monday amid falling commodity prices as the latest data showed slightly smaller-than-expected increases in China's industrial production and retail sales. The S The Canadian dollar was up 0.10 of a cent to 98.99 cents US. U.S. retail sales edged up 0.1 per cent in April, boosted by increased spending on cars and clothing. March had seen a 0.5 per cent decline — its largest drop in nine months. Economists had expected another contraction brought on by a higher U.S. tax on Social Security that kicked off this year.

Portuguese official inflation slows in April

Portuguese 12-month inflation was 0.2 percent in April and prices were steady in the month compared with the level in March, the national statistics institute Ine reported on Monday. In March, inflation was 0.5 percent and prices rose by 1.7 percent. The Portuguese government, which signalled on Sunday that it had reached agreement with the International Monetary Fund and European Union on new radical action to correct public finances, including steep tax increases, has forecast that inflation for the whole year will be 0.7 percent.

Asia stock markets rise after US releases better-than-expected retail sales data

BANGKOK - Asian stock markets rose Tuesday after data showed U.S. consumers revved up their retail spending last month. The Commerce Department in Washington said retail sales increased 0.1 per cent in April from March, an improvement from March's 0.5 per cent decline. Economists had forecast that sales declined by 0.3 per cent in April. The uptick in spending on items such as clothing, cars and electronics is likely to boost the country's growth figures for the current quarter.
Syndicate content