Aust Dollar Back Up Above US71c

The Australian dollar is firmly back above US71c after it got a boost from some stronger US inflation figures. At 7.00am (AEDT) on Wednesday, the local unit was trading at US71.21c, up from US70.84c on Tuesday. US consumer prices rose 0.2 per cent in October, bouncing from falls the previous two months. Westpac Strategist Imre Speizer said that even though inflation bounced back it was still weak. Of interest to financial markets on Wednesday...

Oil Drops to Two-Month Low as U.S. Seen Swelling World Glut

Oil declined in New York, closing at the lowest level in more than two months, as U.S. crude stockpiles are estimated to have expanded for an eighth week. West Texas Intermediate fell 2.6 percent as French jets bombed Islamic State targets in Syria for a second day. U.S. crude supplies probably rose by 2 million barrels last week, according to a Bloomberg survey before Energy Information Administration data Wednesday. Oil futures settled...

Japan Stocks Rise for Second Day as Weaker Yen Boosts Exporters

Japanese stocks rose for a second day as a weakening yen boosted the earnings outlook for exporters. Insurers, paper makers and machinery manufacturers led gains. The Topix index added 1.1 percent to 1,595.10 as of 9:02 a.m. in Tokyo as all but two of its 33 industry groups advanced. The dollar strengthened for a second day against the yen as firming U.S. inflation data bolstered speculation the American economy can withstand higher...

U.S. Stocks End Little Changed as Energy Slides, Retailers Rise

U.S. stocks were little changed as a retreat in energy shares offset higher-than-forecast earnings from Home Depot Inc. and Wal-Mart Stores Inc., while firming inflation bolstered speculation the Federal Reserve will raise interest rates next month. Crude oil renewed a selloff a day after the commodity’s climb ignited the strongest gains among energy companies in six weeks. Today’s reversal overshadowed a rally in retailers led by Home...

European Stocks Leap Toward Best Session Since Early October

European stocks finished sharply higher on Tuesday, aided by a climb in energy and defense shares as the region’s benchmark marked its biggest rise in about six weeks. The Stoxx Europe 600 jumped 2.9% to close at 379.88, with all sectors advancing. The index was led by a 3.4% rise for the oil-and-gas group resulting in the pan-European benchmark’s best daily gain since a 3% jump...