Gold rallied for a second day on Wednesday as the euro rebounded following upbeat German economic data, building on gains in January that marked the metal's strongest starting month in 32 years.
Euro zone manufacturing activity declined for a sixth straight month in January as a slight upturn in Germany failed to offset a prolonged contraction in the bloc's smaller economies, a survey showed on Wednesday.
Debt-laden Greece and its international lenders must focus less on deficit reduction and more on reform because there are limits to what society can tolerate, a senior IMF official said on Wednesday.
Portugal seeks to sell 1.5 billion euros ($1.9 billion) in treasury bills on Wednesday, in a test of its ability to raise short-term funds after a recent surge in its long-term bond rates have raised fears it may be forced to follow Greece and seek a new bailout.
Stocks rose and the euro steadied on Wednesday as investors remained on guard ahead of the release of manufacturing surveys from the Europe's biggest economies after China's powerful factories showed a slight expansion.
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Gold prices were on course for their biggest monthly rise since August on Tuesday, boosted by economic unease in Europe and the United States and raising the possibility of a climb toward last year's record high of just over $1,900 per ounce.
Euro zone unemployment has risen to its highest level since before the euro was introduced, data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe's floundering economy.
Japan's Nikkei share average ended nearly flat on Tuesday, but logged its best January performance in 13 years as investors remained optimistic that the U.S. economic recovery could offset disappointing domestic corporate earnings.
The euro rose and world shares recovered on Tuesday on hopes of a deal this week to free up the next tranche of aid for Greece, though concerns about Portugal following a similar path capped gains and fresh data on the region's economic outlook weighed on sentiment.
Asian shares and the euro rose on Tuesday after Greek Prime Minister Lucas Papademos raised hopes that a deal would be reached this week to avoid a potentially chaotic debt default, but worries over Portugal's refinancing ability capped gains.
Asian shares and the euro rose on Tuesday after Greek Prime Minister Lucas Papademos raised hopes that a deal would be reached this week to avoid a potentially chaotic debt default, but worries over Portugal's refinancing ability capped gains.
The BSE Sensex rose more than 1 percent on Tuesday morning, led by gains in index heavyweights Reliance Industries (RELI.NS) and ICICI Bank (ICBK.NS), and were poised for their best month in at least ten.
Chancellor Angela Merkel cemented her political ascendancy in Europe Monday when 25 out of 27 EU states agreed to a German-inspired pact for stricter budget discipline, even as they struggled to rekindle growth from the ashes of austerity.
Japan's Nikkei share average was on track to snap a three-day losing run Tuesday and headed for its best January performance since 1999, as investors took cues from optimism about the U.S. economy and shrugged off weaker corporate earnings results.
Portugal's slide towards becoming the next Greece - needing a second bailout to avoid bankruptcy - accelerated on Monday as untrusting underwriters hiked the cost of insuring Lisbon's bonds to new highs and insisted it be paid up front.
Portugal's slide towards becoming the next Greece - needing a second bailout to avoid bankruptcy - accelerated on Monday as untrusting underwriters hiked the cost of insuring Lisbon's bonds to new highs and insisted it be paid up front.
Confidence in the euro zone's economy strengthened in January for the first time since early 2011, EU data showed on Monday, but a recovery in Germany masked a deterioration in France and Italy, highlighting the bloc's diverging fortunes.
Confidence in the euro zone's economy strengthened in January for the first time since early 2011, EU data showed on Monday, but a recovery in Germany masked a deterioration in France and Italy in a sign of the bloc's diverging fortunes.
Asian shares inched down and the euro fell from its highest in more than six weeks Monday, as markets cautiously tuned in to a likely debt swap deal for Greece that is crucial to avoiding a messy default and eyed yet another European summit meeting.
EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions.
On the European currency, a mood of short-term relief tinged with longer-term doubt prevails among the world's movers and shakers at this year's World Economic Forum session in the Swiss Alps.
