Bloomberg Business – Japanese stocks soar. The Nikkei 225 Stock Average surged 7.7 percent to 18,770.51 in Tokyo, posting its biggest one-day gain since October 2008. The huge move came after a week that saw a large increase in short-selling on the Tokyo Stock Exchange over the past week, with short-selling accounting for 40 percent....
Bloomberg Business –Miners blasted: Mining stocks in Europe got hammered this morning. Glencore Plc, which raised capital at 125 pence a share on Wednesday last, traded as low as 107 pence, down 10 percent on the session. Anglo American Plc, Antofagasta Plc and ArcelorMittal all dropped more than 6 percent. Industrial metal prices fell, with....
Bloomberg Business -Euro-area inflation: Inflation in the Euro-area unexpectedly turned negative in September, falling to minus 0.1 percent, according to a flash estimate from Eurostat, the European statistics agency. The drop was driven by falling energy prices, with a breakdown of the headline number showing that component dropping 8.9 percent from a year earlier. -Awful....
Bloomberg Business –European Stocks Decline as U.S. Payroll Data Miss Forecasts: European stocks declined as disappointing U.S. jobs data cast doubt on the Federal Reserve’s stance that the recovery of the world’s largest economy is strong enough to withstand an increase in interest rates. The Stoxx Europe 600 Index retreated 0.6 percent to 344 at....
Bloomberg Business –German factory data: Factory orders in Germany unexpectedly dropped 1.8 percent in August versus estimates for a 0.5 percent increase. The surprise decline highlights Germany’s exposure to China’s growth slowdown. Stocks in Europe were slightly higher at 10:30 a.m. London time, with the Stoxx 600 rising 0.4 percent. -Yuan overtakes yen: China’s yuan....
Bloomberg Business -Fed division: Federal Reserve Governor Daniel Tarullo has added to division at the central bank, saying that he doesn’t currently favor raising rates in 2015, echoing comments from fellow-Governor Lael Brainard on Monday. Though the comments from the two governors put them at odds with Fed Chair Janet Yellen, the market agrees with....
Bloomberg Business -China rally: The Shanghai Composite Index finished the session 1.6 percent higher and 6.5 percent higher for the week, its best performance in four months. China is due to release GDP data on Monday (10 p.m. Sunday ET) with the median estimate of economists surveyed by Bloomberg now looking for 6.8 percent growth,....
Bloomberg Business -Spanish election turmoil: No clear winner emerged from yesterday’s Spanish government election. Current prime minister Mariano Rajoy, as leader of the largest party following the vote, will get the first chance to form a government, but with insufficient seats to form a majority (even under a coalition with fourth-place Ciudadanos), it is likely....