China's industrial production and retail sales grew at a slower-than-expected rate inJuly, data released by the National Bureau of Statistics showed Thursday, reflecting a slowing economy. Monthly industrial output increased 9.2% in July from the year-ago month, weakening from a 9.5% improvement in June and falling short of a 9.8% expansion expected in a Reuters poll of economists.
Chinese consumer price index rose 1.8% in July from the year-ago period, the slowest increase since January 2010, according to data from FactSet, and a decrease from June’s 2.2% increase
Asian shares rose to a three-month high on Thursday after a drop in Chinese consumer inflation left room for more policy easing to support growth, while Australia's improving labor market kept the country in better shape without stimulus for now.
China's annual consumer inflation fell to a 30-month low in July, suggesting that the central bank has scope to ease policy further after rate cuts in June and July to keep the economy on track to meet an official 2012 growth target of 7.5 percent.
The British pound is heading for fresh falls in coming weeks as worries about a deepening recession in the UK, highlighted by the Bank of England; keep expectations of further monetary easing intact.
Japan’s Nikkei 225 rose 1.3 percent today, even after the country’s machinery orders rebounded less than forecast and the central bank kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.8 trillion yen.
Oil fluctuated after falling for the first time in four days yesterday in New York as speculation that China will take more steps to boost its economy countered signs of weakening demand in the U.S., the biggest crude user.
Gold inched up on Thursday after a drop in China's consumer inflation left room for monetary easing there, though most investors remained on the sidelines, looking for clear signals on possible economic.
U.S. 10-year Treasury bond yields hovered at two-month highs on Thursday after an auction of $24 billion of 10-year notes drew tepid demand, and as investors kept shifting towards riskier assets on some signs of stability in the euro zone.
Google Inc showed off enhancements to its voice-based search technology for Apple Inc's iPhone and said it was testing a new service that will combine its Web-based email with its search engine.
Starbucks Corp's (SBUX.O) deal to use Square Inc to process payments at its U.S. coffee shops is a big win for a 2-year-old startup that is beginning to threaten established payment processors and shake up retailing.
News Corp. on Wednesday reported a $1.55 billion loss for its fiscal fourth quarter on a multibillion-dollar write-down primarily of its publishing businesses, most significantly those in Australia.
Century Link Inc. on Wednesday reported a second-quarter profit of $74 million, or 12 cents a share, compared with a profit of $115 million, or 19 cents a share, for the year-earlier period.
Priceline.com Inc. shares fell more than $100, or 15%, to $576.18 Wednesday following the online travel company's disappointing third-quarter profit outlook.
Rio Tinto Group, the world’s third-largest mining company, climbed 3.8 percent in Sydney after earnings beat estimates and the company said its plan to sell diamond assets is “well advanced.”
Asad Khan
Financial Analyst (CFB)
050-8774861
asad@cfb.ae
Financial Analyst (CFB)
050-8774861
asad@cfb.ae
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