Breaking News

Sterling falls on negative inflation; world stocks slump on weak Chinese data

News Date: 13/10/2015 10:19:16

 World stocks fell on Tuesday as weak Chinese trade data came out, showing a weaker-than-expected drop in imports.


As of 13:30 GMT, Britain's lead index FTSE 100 fell 67 points, or 1.05% to 6,304. Germany's DAX fell 177 points, or 1.75% to 9,942. France's CAC 40 fell 85 points, or 1.82% to 4,603.



U.S. stocks fared a little better but was still down, with the Dow Jones index falling 69 points, or 0.40% to 17,062. NASDAQ fell 16 points, or 0.35% to 4,822. S&P 500 fell seven points, or 0.37% to 2,010.


Sterling fell sharply on Tuesday after the release of British CPI report, showing inflation has turned negative again, posting -0.1% in September y\y. Forecasts expected inflation to stay unchanged at zero. The weak data reinforces views that Bank of England won't raise interest rates any time soon, prompting investors into selling the Pound.


Against the Dollar, Sterling fell 0.90% to 1.5211, after rising earlier to 1.5394. Against Yen it fell to 182.23. Against Euro it fell to an eight-month low at 0.7476.


The Euro was wobbly today, as German Final CPI report came out showing a drop of 0.2% in September. Germany's Wholesale Price Index (WPI) fell 0.6% m\m, against a forecast of a 0.3% fall. Another piece of bad German news came with the crucial ZEW economic sentiment, a survey of German investors intended to measure the health of the economy. It posted a result of 1.9, compared to last month's 12.1 result. Forecasters expected a smaller drop to 6.8. A reading above zero indicates optimism, below zero indicate pessimism.


Euro fell from three-weeks high against the dollar, it was still up for the day at 1.1362. Against Yen it fell for the second day to 136.13.


Crude oil fell earlier but then recovered slightly. Brent oil was last at $50.37 a barrel, up a few cents from yesterday. U.S. oil traded at $47.70 a barrel, up 30 cents for the day.


Spot gold was largely unchanged from yesterday at $1,164 an ounce. Silver rose 0.60% to $15.95 an ounce.

Latest news

Gold regained its strength again after it concluded last week with losses, due to the repercussions of the Corona virus, which doubled concerns about gold : considered the first safe haven for invest
08-2020 10 06:39:36

Oil futures rose at the close of trading in the week, as crude oil futures for September rose by 0.07%, to be traded at $ 41.98 a barrel, previously traded on a session high at $ 42.22 a barrel. Oil
08-2020 07 06:16:28

Oil futures rose today, Wednesday, as crude oil futures trading for September delivery increased by 0.02%, reaching $ 41.69 a barrel, previously traded on an increase session at $ 41.73 a barrel. Oil
08-2020 05 02:46:36

The gold futures contracts for October delivery started their trading on Tuesday, with a decrease of 0.17%, to be traded at the price of 1978.15 dollars per ounce, as had been previously traded on a
08-2020 04 00:46:23

We begin the events of today with the rise he has known to gold, as a safe haven in light of economic fears and anxiety the world is living in, especially as the numbers of infection rates of Coronav
08-2020 03 05:48:16

More News