Breaking News

Sterling edges up on positive inflation, European shares rally.

News Date: 15/12/2015 09:32:16
Update Date: 15/12/2015 09:34:35

Sterling made gains after inflation turned positive in November, with the Consumer Price Index for Britain recording a growth of 0.1% y\y, after two consecutive months of negative inflation. Core CPI, which strips out volatile energy and food prices, rose 1.2% y\y, in line with expectations and better than October's rise of 1.1%. Sterling inched up 0.14% against the dollar to 1.5164. It wiped its losses against the euro, moving away from near a 7-week low and gaining 0.37% to 0.7233. Sterling advanced 0.31% against the yen to 183.83.


Oil prices held on to its earlier gains, sneaking further away from 7-year lows touched yesterday; Brent crude futures are up 57 cents, or 1.51% to $38.74 a barrel. U.S. crude futures added 40 cents, or 1.08% to $36.70 per barrel.


The recovery in oil prices helped European shares rally after a bruising week of deep losses, with the pan-European index FTSEurofirst jumping 2.33% to 1,403. Germany's DAX soared 284 points, or 2.81% to 10,424. France's CAC 40 added 118 points, or 2.66% to 4,592. Britain's FTSE continued to benefit from South Africa-related stocks, which recovered greatly after president Zuma named widely respected Pravin Gorghan as finance minister; the British index rose 107 points, or 1.83% to 5,981.


Euro ceded earlier gains against the dollar, losing 0.20% to 1.0972, after hitting a fresh six-week high earlier in the day at 1.1056. Euro inched down against the yen to 133.02.


Canadian dollar pulled away from an 11-1\2 year trough thanks to stabilization in oil; it last traded at C$1.3716, up 0.11% for the day. Swedish crown jumped to a six-week high against the dollar after Sweden's central bank refrained from cutting interest rates, but then trimmed most of its gain, trading at 8.4727 per dollar, with a 0.1% gain.


Latest news

The futures contracts for oil witnessed an increase, as it rose by 0.16%. According to the New York Mercantile Exchange, the futures contracts for crude oil were traded in November at 82.02 dollars p
09-2022 29 02:42:06

Bitcoin, the largest cryptocurrency by market capitalization, managed to exceed the $20,000 level, rising by more than 5%, to $20,286 in particular. Followed by Ether, the second largest cryptocurren
09-2022 27 00:49:52

The dollar index rise against six major currencies, including the British pound and the euro, rose to its highest level in 20 years, supported by the decline of the British pound. The euro recorded
09-2022 26 02:49:04

Crude oil futures rose during the Asian session today, Thursday, this rise came after a decline : after the US central bank raised interest rates to control inflation, which directly affected the dem
09-2022 22 02:20:30

Yesterday, Wall Street closed lower , following the US central bank’s meeting, which is expected to raise interest rates significantly. According to the data, the Standard & Poor's 500
09-2022 21 01:33:42

More News