Breaking News

Copper prices, Asian shares jump after positive data

News Date: 14/3/2016 02:17:58
Asian shares gained considerable ground on Monday, buoyed by Wall Street gains on Friday and supported by a stream of positive data from Japan and China showing Chinese fixed asset investments growing by 10.2% in January and February compared to the same period last year, leading China's Shanghai index 2.63% higher and restoring some confidence in the world's second largest economy.

From Japan, core machinery orders surged 15.0 m/m in January, smashing expectations of a 2.0% growth, and compared to December's 4.2% rise. Japan's Nikkei index climbed 1.76% to 17,236, a six-week high. Australian shares similarly advanced 0.37% to a ten-week peak.

Copper, an industrial metal highly, drew support from China's gains, with the futures gaining more than one percent to trade at $2.261 a pound, a six-day high, while silver futures added nine cents, or 0.57% to hover around $15.63 an ounce. Gold however recorded losses, sliding two dollars, or 0.16% to $1,257 an ounce.

The dollar index, which measures the currency's performance against a basket of rival currencies, was flat today at 96.25, not far from one-month low hit last week at 95.94, while the euro rose 0.10% to hover around 1.1159. Sterling edged down 0.05% versus the greenback to trade at 1.4376.

Oil prices were mixed, with Brent crude futures inching up 0.10%, or three cents to trade at $40.42 a barrel, while U.S. West Texas Intermediate (WTI) crude futures skidded 20 cents, or half a percentage to $38.33 a barrel.

Investors wait for industrial production data from the Eurozone, expected to have grown a brisk 1.7% m/m in January, recovering from December's 1.0% tumble, which would be positive for the common currency in the short term.  

Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News