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Apr 19, 2013

Morning Market Briefing -April 19, 2013-.

Economic News -April 19, 2013-.
A leading indicator for China's economic performance recorded no change in March after a notable growth in the previous month, suggesting that the economic momentum is waning with the government tightening its grip on the real estate sector. The leading economic indicator (LEI) remained unchanged at 258.3 in March, following a 1.2 percent increase in February and a 1.7 percent rise in January. (Apr 19, 2013) Full Article 
Earnings News
International Business Machines Corp. (IBM) on Thursday reported a decline in earnings, as it failed to close a number of software and mainframe transactions during the first quarter. The results fell short of consensus. (Apr 19, 2013) Full Article
Microsoft Corp. (MSFT) on Thursday reported a jump in third-quarter earnings that came in ahead of estimates, on back of revenue growth across all its business divisions. The Software giant's chief financial officer Peter Klein is leaving at the end of June. (Apr 19, 2013) Full Article 
Google Inc. (GOOG) on Thursday reported a climb in earnings for the first quarter, helped by strength in advertising business. The search engine giant's profit for the period breezed past estimates, while revenue missed view. (Apr 19, 2013) Full Article  
Capital One Financial Corp. (COF) on Thursday reported a drop in earnings for the first quarter from last year, when the lender booked a hefty gain from its acquisition of ING Direct USA. Revenues rose from last year and beat expectations, on continued growth at its Domestic Card business. (Apr 19, 2013) Full Article 
Schlumberger Ltd. (SLB) on Friday reported a decline in first-quarter earnings, due to higher charges, while adjusted earnings came in ahead of Street view, as strong drilling activity outside North America boosted revenues. (Apr 19, 2013) Full Article
Friday, Honeywell International Inc. (HON) reported a higher-than-expected profit for the first quarter, helped by better margins. The company lifted the lower end of its annual earnings forecast. (Apr 19, 2013) Full Article 
McDonald's Corp (MCD) on Friday reported a marginal rise in first-quarter net profit, as same store sales in U.S. restaurants declined from last year. Earnings per share missed estimates, while revenue came in ahead of view. (Apr 19, 2013) Full Article 
Todays WS Events
Baker Hughes Q1 13 Earnings Conference Call At 8:00 AM ET
Baker Hughes. (BHI) will host a conference call at 8:00 AM ET April 19, 2013, to discuss its Q1 13 earnings results. To access the live webcast, log on at www.bakerhughes.com/investor A call can be accessed by dialing 800-446-1671 (US or 847-413-3362 (International). For replay a call, dial 888-843-7419 (US) or 630-652-3042 (International) with access code is: 34404573 (Apr 19, 2013)  
General Electric Q1 13 Earnings Conference Call At 8:30 AM ET
General Electric Co (GE) will host a conference call at 8:30 AM ET on April 19, 2013, to discuss its Q1 13 earnings result. To access the live webcast, log on at http://www.ge.com/investor-relations (Apr 19, 2013)  
Genuine Parts Q1 13 Earnings Conference Call At 11:00 AM ET
Genuine Parts Co (GPC) will host a conference call at 11:00 AM ET on April 19, 2013, to discuss its Q1 13 earnings results. To access the live webcast, log on at www.genpt.com To hear the live call, dial 877-331-5106 with passcode 29857123 . A replay of the call can be heard by dialing 855-859-2056 with ID 29857123 (Apr 19, 2013)  
Honeywell International Q1 13 Earnings Conference Call At 9:30 AM ET
Honeywell International Inc.(HON) will host a conference call at 9:30 AM ET April 19, 2013, to discuss its Q1 13 earnings results. To access the live webcast, log on at http://www.honeywell.com/investor A call can be accessed by dialing (800) 894-5910 (US) or (785) 424-1052 (International) with passcode: HONQ113. For replay a call, dial (800) 753-6121 (US) or (402) 220-2676 (International) (Apr 19, 2013)  
McDonald's Q1 13 Earnings Conference Call At 11:00 AM ET
McDonald's Corp. (MCD) will host a conference call at 11:00 AM ET on April 19, 2013, to discuss its Q1 13 earnings results. To access the live webcast, log on at https://mcdonalds.webcasts.com/starthere.jsp?ei=1015815 (Apr 19, 2013)  
Rockwell Collins Q2 13 Earnings Conference Call At 9:00 AM ET
Rockwell Collins (COL) will host a conference call at 9:00 AM ET on April 19, 2013, to discuss its Q2 13 earnings result. To access the webcast, log on at www.rockwellcollins.com (Apr 19, 2013)  
Schlumberger Q1 13 Earnings Conference Call At 9:00 AM ET
Schlumberger Ltd. (SLB) will host a conference call at 9:00 AM ET on April 19, 2013, to discuss its Q1 13 earnings results. To access the live webcast log on to www.slb.com/irwebcast To listen to the live call, dial +1-800-288-9626 (US) or +1-612-332-0345 (International). For a replay call, dial +1-800-475-6701 (US) or +1-320-365-3844 (International), access code 280257 (Apr 19, 2013)  
State Street Q1 13 Earnings Conference Call At 9:30 AM ET
State Street Corp. (STT) will host a conference call at 9:30 AM ET on April 19, 2013 to discuss Q1 13 earnings results. To access the live webcast, log on to www.statestreet.com/stockholder To listen to the call, dial +1 888/391-4233 (US) or +1 706/679-5594 (International) with Conference ID #28538936 . For a replay call, dial + 1 855/ 859-2056 (US) or +1 404/537-3406 (International) with Conference ID # 28538936 (Apr 19, 2013) 

DealBook Today's Top Headlines -April 19, 2013-.: Blackstone Said to Drop Out of Dell Bidding | SeaWorld Prices I.P.O. at Top of Range | Risk Redux on Wall St. | Blankfein's Fashion Secrets


NYTimes.com Home |Business Day| Video The New York Times

MERGERS & ACQUISITIONS »
For Apple, a Bruising Fall "Wall Street has turned viciously on its one-time iDarling," The New York Times writes.
In Arguing for Sprint Proposal, Dish Invokes National Security Dish cited national security reasons in a filing making its case for its $25.5 billion offer for Sprint Nextel.
What's at Stake in the Fight Over a REIT The problem is not Maryland corporate law, but that CommonWealth has a bylaw provision that requires that all shareholder disputes be arbitrated, Steven M. Davidoff writes in the Deal Professor column.
Lenovo Says It Is in Talks Over an Acquisition Without identifying the target, the Lenovo Group said it was in preliminary talks about a potential acquisition.
The Rewards of Indiscretion Loose lips coincide with much higher premiums. Some bankers will always fancy that mix of risk and reward, Jeffrey Goldfarb of Reuters Breakingviews writes.
INVESTMENT BANKING »
The headquarters of Morgan Stanley in New York.
Morgan Stanley Reports Profit, but Investors Have Doubts Morgan Stanley reported first-quarter adjusted earnings of $1 billion, or 50 cents a share, but share prices fell to their lowest level since January.
Gold, Seen by Some as Money, Doesn't Act That Way "What do you get when you combine evangelical fervor with leverage and rising speculation?" Floyd Norris, a columnist for The New York Times, writes. "The gold market, circa 2013."
Capital One Profit Beats Expectations Capital One's net income fell 24 percent from a year earlier but exceeded analysts' expectations, according to Bloomberg News.
Wells Fargo Headquarters in Charlotte Is Sold to Investor Group
For the latest updates, go to dealbook.nytimes.com »

PRIVATE EQUITY »
Silver Lake Raises $10.3 Billion Fund Silver Lake's latest private equity fund is "the largest of its kind to focus on technology," according to Reuters.
Blackstone's Profit Jumps 28% The alternative investment giant Blackstone Group said on Thursday that first-quarter profit rose 28 percent, to $628 million, as the firm reported growth in total assets under management.
CVC to Buy the Rest of German Energy-Metering Company The private equity firm CVC is buying a 76 percent stake in Ista, valuing the German company at about $4.1 billion, according to Reuters, which cites two unidentified people familiar with the transaction.
K.K.R. to Invest in French Fashion Group K.K.R. is buying a majority stake in the SMCP Group of Paris.
HEDGE FUNDS »
Einhorn Used Derivatives to Increase Marvell Technology Stake David Einhorn's hedge fund, Greenlight Capital, "increased its economic stake in Marvell to 12.4 percent from 9.7 percent by entering into total return swaps in January on about 12 million company shares, according to a regulatory filing last week," Bloomberg News reports.
Paulson's Advantage Fund Slips in April John A. Paulson's well-known Advantage fund "is down 2.4 percent in April, largely due to the sharp selloff in gold, a source familiar with the numbers said on Thursday," Reuters reports.
I.P.O./OFFERINGS »
For Private Equity Firms, I.P.O.'s Regain Appeal The Financial Times reports: "More than a dozen offerings this year have rekindled private equity groups' hopes to list some of their largest assets bought during the bubble. The initial public offering of Intelsat on Thursday shows that it is feasible, but can also be painful."
I.P.O. Investors Are More Sanguine on Debt "Debt is no longer a four-letter word among investors in initial public offerings," The Wall Street Journal writes.
VENTURE CAPITAL »
A Tech Investor's Vision for San Francisco The influential technology investor Ron Conway "has become, in two short years, one of San Francisco's power brokers, using his wealth and network to pursue his vision of a business-friendly, tech-driven city with single-minded clarity," The New York Times writes.
LEGAL/REGULATORY »
Bill Would Tie Municipal Borrowing to Public Pension Disclosure The New York Times reports: "Representatives from California and two other states introduced a bill in Congress on Thursday that would strip states and cities of their right to issue tax-exempt bonds unless they first disclosed the true cost of their pension plans and whether they could pay it."
How Banks' Profit Tempts Rules Wall Street's rising profits are giving some lawmakers ideas that a deeper overhaul might be in order. On Twitter, DealBook's Peter Eavis and Jesse Eisinger of ProPublica discuss the potential outcomes.
KPMG to Conduct Review Amid Insider Trading Case The accounting firm KPMG plans to take a hard look at its internal safeguards.


Financial and Forex Info I Kitco Latest Gold News Update -April 19, 2013-.

Kitco



 Latest Gold News NY Time
Gold Gaining as Physical Demand Said to Be ‘Extraordinary’ - Bloomberg, Apr 19 2013 6:55AM
Gold slide flashes warning signs for global economy - Reuters, Apr 19 2013 6:52AM
Hedging Your Physical Gold When Prices Are Down - Kitco News, Apr 18 2013 1:49PM
What Does Gold's Drop Mean For Miners? François Perron - Kitco News, Apr 18 2013 5:03PM
World Gold Council: Price Decline Spurs Widespread Physical Gold Buying - Kitco News, Apr 18 2013 2:31PM
Deutsche Bank: Gold Market Is Going Through ‘Structural Change’ - Kitco News, Apr 18 2013 9:24AM
CME To Launch New 1,000-Ounce Silver Futures Contract In June - Kitco News, Apr 18 2013 9:36AM
Thursday's Analytical Charts for Gold, Silver and Platinum and Palladium - Kitco News, Apr 18 2013 10:18AM
Thursday's Forex Analytical Charts - Kitco News, Apr 18 2013 10:32AM
Hecla Retains 20% Interest In Dolly Varden; Buys $2.7 Million Worth Of Shares - Kitco News, Apr 18 2013 1:17PM
Freeport Anticipates Increased Copper, Gold Production During 2013 - Kitco News, Apr 18 2013 1:28PM
Triland: Gold Rallies From Overnight Lows In ‘Another Violent Day’ - Kitco News, Apr 18 2013 12:13PM
Comex Gold Ends Up on Short Covering, Bargain Hunting, Bullish Outside Markets - Kitco News, Apr 18 2013 2:00PM
Anglo platinum output hit by strikes - IOL, Apr 19 2013 5:39AM

Wall Street To Push Ahead Despite Lukewarm Tech Earnings: RTTNews US Market Commentary -April 19, 2013-.


US Market Commentary


Wallstreet3-111212_19Apr13.jpg Wall Street appears to be on track for a strong rebound on Friday following the declines of the previous two sessions. The retreat came on the back of weak tech earnings from bellwethers. Although tech earnings released subsequently have also been mixed, the markets could attempt to stage a rebound, thanks to the recovery seen in commodity prices. Another spate of earnings flow is in the cards.

wallstreet4-103112_18Apr13.jpg Stocks moved mostly lower over the course of the trading day on Thursday, adding to the notable losses posted in the previous session. A disappointing batch of economic data weighed on the markets following the volatility seen over the past few days. The major averages all closed in the red, although the tech-heavy Nasdaq underperformed its counterparts.

Wallstreet2-111212_18Apr13.jpg After initially showing a lack of direction, stocks are firmly in the red in mid-day trading on Thursday. While selling pressure has remained somewhat subdued, the major averages are extending the downward move seen earlier this week.

Wallstreet3-111212_18Apr13.jpg Stocks are showing a lack of direction in early trading on Thursday after seeing considerable volatility over the past few sessions. The major averages have been bouncing back and forth across the unchanged line, unable to sustain any significant moves. The major averages have moved to the downside in the past few minutes and are currently posting modest losses.

wallstreet1-103112_18Apr13.jpg Extending the volatility seen over the past few sessions, stocks are likely to move to the upside in early trading on Thursday after ending the previous session notably lower. The major index futures are pointing to a moderately higher open for the markets, with the Dow futures up by 36 points.

WallStreet2-041112_18Apr13.jpg Wall Street is set to make a cautious rebound on Thursday after the tech-led retreat yesterday. The index futures point to a slightly higher opening on Thursday. The earnings news flow is picking up momentum, with a slew of companies, including Morgan Stanley, Verizon, Pepsi and UnitedHealth, due to...

Wallstreet3-111212_17Apr13.jpg After spending the previous session recovering from Monday's sell-off, stocks showed a notable move back to the downside during trading on Wednesday. Disappointing earnings news weighed on the markets along with troubling news out of Washington. The major averages moved roughly sideways going into the close, stuck firmly in negative territory.

wallstreet4-103112_17Apr13.jpg Stocks have moved sharply lower over the course of the trading day on Wednesday, offsetting the strong gains posted in the previous session. Disappointing earnings news is weighing on the markets along with troubling news out of Washington. The major averages have climbed off their worst levels of the day but remain firmly in negative territory.

wallstreet2-103112_17Apr13.jpg After moving sharply lower in early trading on Wednesday, stocks have seen some further downside over the course of the morning. The major averages have slid firmly into negative territory, offsetting the strong gains posted in the previous session.

Wallstreet4-111212_17Apr13.jpg Stocks have moved sharply lower in early trading on Wednesday, moving back to the downside after ending the previous session notably higher. The major averages have slid firmly into negative territory, nearly offsetting yesterday's gains. The major averages have recently climbed off their lows for the young session but remain in the red.

Wallstreet2-111212_17Apr13.jpg Extending recent volatility, stocks are likely to come under pressure in early trading on Wednesday after showing a strong move back to the upside in the previous session. The major index futures are pointing to a notably lower open for the markets, with the Dow futures down by 83 points.

wallstreet-041012_17Apr13.jpg Wall Street may see a reversal in sentiment on Wednesday, as earnings, which laid the very foundation for the previous session's rally, have offered some discomfiture. Intel reported disappointing first quarter results and Yahoo's revenue performance was sub par. The lackluster earnings reports should...

wallstreet4-103112_16Apr13.jpg After moving sharply lower over the course of the previous sessions, stocks regained some ground during trading on Tuesday. Upbeat earnings and economic data inspired traders to pick up stocks at reduced levels following yesterday's sell-off. The major averages saw further upside going into the close, ending the session near their highs for the session.

Wallstreet3-111212_16Apr13.jpg Stocks are seeing considerable strength in mid-day trading on Tuesday, partly offsetting the steep losses posted in the previous session. The markets are benefiting from some positive earnings news as well as upbeat economic data. The major averages have seen some further upside in recent trading, reaching new highs for the session.

wallstreet1-103112_16Apr13.jpg After moving notably higher at the start of trading on Tuesday, stocks have given back some ground over the course of the morning. The major averages have pulled back off their highs for the session but remain firmly in positive territory.

Financial and Forex Info I Kitco Latest Gold News -April 19, 2013-.

Kitco


Latest Gold News NY Time
Comex Gold Ends Up on Short Covering, Bargain Hunting, Bullish Outside Markets - Kitco News, Apr 18 2013 2:00PM
Triland: Gold Rallies From Overnight Lows In ‘Another Violent Day’ - Kitco News, Apr 18 2013 12:13PM
Hedging Your Physical Gold When Prices Are Down - Kitco News, Apr 18 2013 1:49PM
What Does Gold's Drop Mean For Miners? François Perron - Kitco News, Apr 18 2013 5:03PM
World Gold Council: Price Decline Spurs Widespread Physical Gold Buying - Kitco News, Apr 18 2013 2:31PM
Freeport Anticipates Increased Copper, Gold Production During 2013 - Kitco News, Apr 18 2013 1:28PM
Hecla Retains 20% Interest In Dolly Varden; Buys $2.7 Million Worth Of Shares - Kitco News, Apr 18 2013 1:17PM
Thursday's Forex Analytical Charts - Kitco News, Apr 18 2013 10:32AM
Thursday's Analytical Charts for Gold, Silver and Platinum and Palladium - Kitco News, Apr 18 2013 10:18AM
CME To Launch New 1,000-Ounce Silver Futures Contract In June - Kitco News, Apr 18 2013 9:36AM
Deutsche Bank: Gold Market Is Going Through ‘Structural Change’ - Kitco News, Apr 18 2013 9:24AM
Investor Confidence Damaged by the Dive in Gold’s Price - Live Trading News, Apr 19 2013 6:20AM
Gold Prices Pop, Retrace Above $1,400 - TheStreet.com, Apr 19 2013 6:00AM
GemstonesUK.com Launch Campaign to Buy Unwanted Scrap Gold - SBWire, Apr 19 2013 6:00AM

MarketWatch I U.S. Stock Market Future Indications -April 19, 2013-: Stock futures higher as global equities rise

By William L. Watts, MarketWatch 
 
FRANKFURT (MarketWatch) U.S. stock index futures gained ground Friday, keeping in step with global equity gains but still leaving Wall Street on track for a weekly loss in the wake of lackluster earnings and concerns about growth prospects. 

Futures on the Dow Jones Industrial Average DJM3 +0.53%  rose 81 points, or 0.6%, to 14,491, while S&P 500 Index futures SPM3 +0.70%  gained 9.5 points to 1,543.50. Nasdaq 100 futures advanced 15.5 points to 2,755. 

Earnings, weak data fuel stock slump
Technology and consumer stocks led the market's decline following a basket of lackluster earnings reports. Chris Dieterich reports. 

“Today, plentiful liquidity, reasonable valuation and low inflation offer some reassurance, even if the near-term picture is clouded with cyclical, seasonal and earnings concerns,” he said. 

U.S. stocks fell for a second consecutive day Thursday following a run of disappointing earnings. The Dow Jones Industrial Average DJIA -0.56%  was down 2.2% week-to-date after Thursday’s close. 

But Asian stocks started the global trading day Friday with strong gains, with traders taking a positive view on a rebound in commodity prices. The Shanghai Composite CN:000001 +2.14%  rose 2.1%, while Japan’s Nikkei Stock Average JP:NIK +0.73%  climbed 0.7%. 

European stocks followed suit, with the Stoxx Europe 600 index XX:SXXP +0.79%  up 0.5%.
Skeptics contend it will be difficult to drum up lasting bargain-hunting interest. 


Getty Images Enlarge Image
HANOVER, GERMANY - FEBRUARY 28: A woman walks past the IBM logo at the CeBIT technology trade fair the day before the fair's official opening on February 28, 2011 in Hanover, Germany. CeBIT 2011 will be open to the public from March 1-5. (Photo by Sean Gallup/Getty Images) <> on February 28, 2011 in Hanover, Germany.
The Dow is still squaring up “to face its biggest weekly loss in almost a year and some further mixed earnings news last night has done little to help rally sentiments ahead of the weekend break,” said Fawad Razaqzada, market strategist at GFT Markets in London. 

“With a very thin economic calendar on the cards for Friday too, it really is difficult to see where any meaningful support is going to come from, as at these levels even the scope for bargain hunting is rather limited,” he said. 

Earnings are on tap from Dow components General Electric Co. GE -0.40%  and McDonald’s Corp. MCD -0.61%  , as well as Honeywell International Inc. HON -0.58%  , Kimberly-Clark Corp. KMB +0.70%  , Schlumberger Ltd. SLB +0.04%  and State Street Corp. STT -1.36% .
Dow component International Business Machines Corp. IBM -1.20%  saw pressure in after-hours trade Thursday after posting disappointing results. 

Dell Inc. DELL -0.14%  will be in focus after Blackstone Group LP ended its pursuit of the computer maker, citing declining personal-computer sales industrywide. Blackstone had aimed to trump the $24.4 billion offer from founder and Chief Executive Michael Dell and private-equity firm Silver Lake Partners. 

Meanwhile, dramatic events unfolding late Thursday and in the early hours of Friday have left a Massachusetts Institute of Technology campus officer dead and one suspected bomber in the Boston Marathon is reportedly dead after a shootout with police. Another suspect is reportedly at large. Several areas around the Watertown area around Boston is in police lockdown amid a manhunt for the second suspect. Read the latest
 
William L. Watts is MarketWatch's European bureau chief, based in Frankfurt. Follow him on Twitter @wlwatts.







European Economics Preview: German Producer Price Data Due: RTTNews Forex Top Stories -April 19, 2013-.


Forex Top Story


EEP-041913.jpg Producer prices from Germany and current account figures from Eurozone are due on Friday, headlining a light day for the European economic news.

ChinaEconomy-041913.jpg A leading indicator for China's economic performance recorded no change in March after a notable growth in the previous month, suggesting that the economic momentum is waning with the government tightening its grip on the real estate sector. The leading economic indicator (LEI) remained unchanged at 258.3 in March, following a 1.2 percent increase in February and a 1.7 percent rise in January.

EURUSD2-041813.jpg The dollar is currently losing ground against its major European competitors on Thursday, but is slightly higher against the Japanese Yen. A series of weaker than expected U.S. economic reports is largely responsible for the move, as well as the rebound in equities. After seeing a notable pullback...

leadingindex-041813.jpg After reporting three consecutive monthly increases, the Conference Board released a report on Thursday showing an unexpected drop by its index of leading U.S. economic indicators. The Conference Board said its leading economic index edged down by 0.1 percent in March following a 0.5 percent increase in February. Economists had expected the index to increase by 0.3 percent.

Philadelphiafed-041813.jpg Philadelphia-area manufacturers reported near steady business activity in April, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of regional manufacturing activity unexpectedly showing a modest decrease. The Philly Fed said its diffusion index of current activity edged down to 1.3 in April from 2.0 in March.

Joblessclaims-041813.jpg After seeing a notable pullback in the previous week, first-time claims for U.S. unemployment benefits saw a modest uptick in the week ended April 13th, according to a report released by the Labor Department on Thursday. The report showed that initial jobless claims edged up to 352,000, an increase of 4,000 from the previous week's revised figure of 348,000.

UKRetailSales-041813.jpg U.K. retail sales declined more-than-expected in March as cold weather dampened sales of clothing and household goods. Moreover, high inflation and weak pay growth squeeze household income and demand. Retail sales volume including auto fuel slipped 0.7 percent month-on-month, partially offsetting February's 2.1 percent rise, data from the Office for National Statistics revealed Thursday.

EEP-041813.jpg Retail sales turnover from the U.K. is due on Thursday, headlining a light day for the European economic news.

china-180413.jpg China's foreign direct investment increased for a second consecutive month in March in a sign that investor confidence in the world's second largest economy is gaining ground, as global financial conditions improve. Investment inflows increased 5.65 percent year-on-year to $12.4 billion in March, the Commerce Ministry said Thursday. In February, China attracted $8.2 billion in FDI.

japanexports-112510.jpg Japan posted a merchandise trade deficit of 364.421 billion yen in March, the Ministry of Finance said on Thursday - falling into the red for the eighth consecutive month. However, the headline figure beat forecasts for a shortfall of 522.2 billion yen. Exports added 1.1 percent on year to 6.271 trillion yen, beating forecasts for a gain of 0.2 percent after dipping 2.9 percent in the previous month.

EURUSD2-041713.jpg The dollar is climbing sharply against its major European competitors on Wednesday, but is slightly lower against the Japanese Yen. Investors are fleeing to safe havens as equity markets continue to weaken this week. A rumor that Germany may be facing a sovereign downgrade has also given investors cause...

BoE-041713.jpg The call for more stimulus by Bank of England Governor Mervyn King was overruled by a majority of policymakers for a third month, over fears that further easing might exacerbate inflation expectations and prompt renewed weakness in the pound. Nonetheless, policymakers became more open to extension of asset purchases in the face of significant degree of slack in the economy and weak wage growth.

UKClaimant-041713.jpg The number of Britons claiming unemployment benefits decreased unexpectedly in March. Meanwhile, the unemployment rate increased in the three months ended February, and regular wages of U.K. employees recorded the weakest growth on record, signaling that the resilience of the labor market is waning.

SwedenRepoRate-041713.jpg Sweden's central bank on Wednesday decided to delay an increase in its repo rate until the second half of 2014 as weak demand and a strong krona continued to stifle inflation, which is now well below the bank's 2 percent target. The benchmark repo rate was maintained at 1 percent as expected, but the Executive Board of the Riksbank said it is making a downward adjustment to its interest rate path.

EEP-041713.jpg The minutes of the Bank of England's monetary policy meeting and the U.K. unemployment figures are due on Wednesday.