Wednesday, 30 December 2015

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.66%

U.S. stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Basic Materials and Telecoms sectors led shares lower.At the close in NYSE, the Dow Jones Industrial Average declined 0.66%, while the S&P 500 index declined 0.72%, and the NASDAQ Composite index fell 0.82%.The best performers of the session on the Dow Jones Industrial Average were Wal-Mart Stores Inc (N:WMT), which rose 0.08% or 0.05 points to trade at 61.66 at the close. Meanwhile, Merck&Company Inc (N:MRK) fell 0.17% or 0.09 points to end at 53.25 and Johnson&Johnson (N:JNJ) was down 0.24% or 0.25 points to 103.78 in late trade.The worst performers of the session were Nike Inc (N:NKE), which fell 1.57% or 1.01 points to trade at 63.25 at the close. Apple Inc (O:AAPL) declined 1.31% or 1.42 points to end at 107.32 and Exxon Mobil Corporation (N:XOM) was down 1.29% or 1.02 points to 78.14.The top performers on the S&P 500 were Mallinckrodt (N:MNK) which rose 2.36% to 75.88, Tesoro Corporation (N:TSO) which was up 1.36% to settle at 104.28 and Sealed Air Corporation (N:SEE) which gained 1.35% to close at 44.93.The worst performers were Southwestern Energy Company (N:SWN) which was down 6.80% to 6.30 in late trade, Range Resources Corporation (N:RRC) which lost 6.60% to settle at 22.94 and CONSOL Energy Inc (N:CNX) which was down 5.58% to 7.78 at the close.

The top performers on the NASDAQ Composite were Lilis Energy Inc (O:LLEX) which rose 48.57% to 0.260, Capitol Acquisition Corp III (O:CLAC) which was up 46.33% to settle at 9.57 and EnteroMedics Inc (O:ETRM) which gained 32.08% to close at 0.140.The worst performers were Methes Energies International Ltd (O:MEIL) which was down 32.35% to 0.230 in late trade, Superconductor Technologies Inc (O:SCON) which lost 27.88% to settle at 0.225 and Wave Systems Corp (O:WAVX) which was down 18.61% to 0.150 at the close.Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2385 to 1034 and 2 ended unchanged; on the Nasdaq Stock Exchange, 1836 fell and 783 advanced, while 59 ended unchanged.Shares in Methes Energies International Ltd (O:MEIL) fell to all time lows; losing 32.35% or 0.110 to 0.230.The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 7.15% to 17.23.Gold for February delivery was down 0.67% or 7.20 to $1060.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 2.76% or 1.04 to hit $36.83 a barrel, while the February Brent oil contract fell 2.87% or 1.08 to trade at $36.70 a barrel.EUR/USD was up 0.08% to 1.0932, while USD/JPY rose 0.03% to 120.50.The US Dollar Index was up 0.07% at 98.30.

Canada stocks lower at close of trade; S&P/TSX Composite down 0.78%

Canada stocks were lower after the close on Wednesday, as losses in the Energy, Mining and Materials sectors led shares lower.At the close in Toronto, the S&P/TSX Composite lost 0.78%.The best performers of the session on the S&P/TSX Composite were TransAlta Corp (TO:TA), which rose 2.75% or 0.13 points to trade at 4.86 at the close. Meanwhile, Extendicare Inc (TO:EXE) added 2.20% or 0.21 points to end at 9.74 and Fairfax Financial Holdings Limited (TO:FFH) was up 2.16% or 13.97 points to 661.97 in late trade.The worst performers of the session were TORC Oil&Gas Ltd. (TO:TOG), which fell 9.12% or 0.50 points to trade at 4.98 at the close. Baytex Energy Corp (TO:BTE) declined 8.24% or 0.37 points to end at 4.12 and Bonavista Energy Corp (TO:BNP) was down 7.65% or 0.15 points to 1.81.Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 689 to 675 and 182 ended unchanged.The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 1.70% to 19.19.Gold for February delivery was down 0.67% or 7.20 to $1060.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 2.76% or 1.04 to hit $36.83 a barrel, while the February Brent oil contract fell 2.86% or 1.08 to trade at $36.71 a barrel.CAD/USD was down 0.33% to 0.7200, while CAD/EUR fell 0.44% to 0.6586.The US Dollar Index was up 0.07% at 98.30.

Brazil stocks lower at close of trade; Bovespa down 0.70%

Brazil stocks were lower after the close on Wednesday, as losses in the Real Estate, Consumption and Financials sectors led shares lower.At the close in Sao Paulo, the Bovespa declined 0.70%.The best performers of the session on the Bovespa were Gol Linhas Aereas Inteligentes SA (SA:GOLL4), which rose 5.44% or 0.13 points to trade at 2.52 at the close. Meanwhile, EcoRodovias SA (SA:ECOR3) added 4.52% or 0.22 points to end at 5.09 and Embraer SA (SA:EMBR3) was up 3.89% or 1.13 points to 30.19 in late trade.The worst performers of the session were Cia Siderurgica Nacional SA (SA:CSNA3), which fell 4.76% or 0.20 points to trade at 4.00 at the close. Braskem SA (SA:BRKM5) declined 4.40% or 1.27 points to end at 27.62 and Banco Bradesco SA (SA:BBDC3) was down 4.21% or 0.90 points to 20.50.Rising stocks outnumbered declining ones on the Sao Paulo Stock Exchange by 175 to 132 and 6 ended unchanged.Shares in Banco Bradesco SA (SA:BBDC3) fell to 5-year lows; losing 4.21% or 0.90 to 20.50.The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 4.08% to 43.32.Gold for February delivery was down 0.74% or 7.90 to $1060.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 3.12% or 1.18 to hit $36.69 a barrel, while the March US coffee C contract rose 1.81% or 2.20 to trade at $123.47 .USD/BRL was up 2.42% to 3.9600, while EUR/BRL rose 2.54% to 4.3294.The US Dollar Index was up 0.08% at 98.31.

Colombia stocks lower at close of trade; COLCAP down 0.27%

Colombia stocks were lower after the close on Wednesday, as losses in the Financials, Industrials and Investment sectors led shares lower.At the close in Colombia, the COLCAP declined 0.27%.The best performers of the session on the COLCAP were Grupo Nutresa SA (CN:NCH), which rose 1.18% or 260.0 points to trade at 22300.0 at the close. Meanwhile, Isagen SA (CN:ISG) added 1.07% or 35.0 points to end at 3300.0 and Banco Davivienda Pf (CN:DVI_p) was up 1.02% or 220.0 points to 21860.0 in late trade.The worst performers of the session were Avianca Holdings Pf (CN:AVT_p), which fell 2.06% or 35.0 points to trade at 1660.0 at the close. Bancolombia Pf (CN:BIC_p1) declined 2.01% or 440.0 points to end at 21500.0 and Canacol Energy Ltd (CN:CNE) was down 1.96% or 120.0 points to 6000.0.Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 15 to 12 and 3 ended unchanged.US coffee C for March delivery was up 1.81% or 2.20 to $123.47 . Elsewhere in commodities trading, US cocoa for delivery in March rose 0.14% or 4.50 to hit $3215.50 , while the February Gold contract fell 0.77% or 8.20 to trade at $1059.80 a troy ounce.USD/COP was up 0.09% to 3170.00, while BRL/COP fell 2.21% to 801.05.The US Dollar Index was up 0.11% at 98.34.

Japan stocks higher at close of trade; Nikkei 225 up 0.27%

Japan stocks were higher after the close on Wednesday, as gains in the Gas&Water, Power and Food sectors led shares higher.At the close in Tokyo, the Nikkei 225 gained 0.27%.The best performers of the session on the Nikkei 225 were Toshiba Corp. (T:6502), which rose 7.67% or 17.8 points to trade at 249.9 at the close. Meanwhile, Pioneer Corp. (T:6773) added 5.02% or 16.0 points to end at 335.0 and Sharp Corp. (T:6753) was up 4.17% or 5.0 points to 125.0 in late trade.The worst performers of the session were Sumitomo Dainippon Pharma Co Ltd (T:4506), which fell 4.22% or 63.0 points to trade at 1431.0 at the close. Dainippon Screen Mfg. Co., Ltd. (T:7735) declined 2.50% or 23.0 points to end at 898.0 and Kyowa Hakko Kirin Co., Ltd. (T:4151) was down 1.59% or 31.0 points to 1915.0.Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1241 to 634.The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 1.51% to 19.47.Crude oil for February delivery was down 1.76% or 0.67 to $37.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.52% or 0.20 to hit $37.41 a barrel, while the February Gold contract rose 0.15% or 1.60 to trade at $1069.60 a troy ounce.USD/JPY was down 0.05% to 120.39, while EUR/JPY rose 0.04% to 131.63.The US Dollar Index was up 0.01% at 98.24.

Dollar holds steady vs. euro, yen in holiday-thinned trade

The dollar held steady against the euro and the yen on Wednesday, as upbeat U.S. data released the day before continued to support but trading volumes remained thin ahead of the New Year holiday.Heading into the final week of the year, trading volumes are expected to remain light as many traders already closed books, reducing liquidity in the market which could result in exaggerated moves.EUR/USD was steady at 1.0930.The dollar strengthened after the Conference Board reported on Tuesday that its consumer confidence index rose to 96.5 in December from 92.6 in November, whose figure was revised from a previously estimated 90.4.Analysts had expected the index to rise to 93.8 this month.Separately, the U.S. Bureau of Economic Anaysis said the goods trade deficit widened to $60.50 billion last month from $58.41 billion in October. Analysts had expected the trade deficit to widen to $60.90 billion in November.The data came after mixed U.S. economic reports released last week failed to offer clues as to how fast the U.S. central bank will raise interest rates next year.With the first U.S. rate hike since 2006 out of the way, investors are now focusing on the pace of future rate increases.USD/JPY was little changed at 120.41.Investors also continued to focus on the oil market amid ongoing concerns over a global supply glut and the lack of demand.Crude oil futures for February delivery were at $37.23 in late Asian trading, off the 11-year low of $35.98 hit on December 22.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 98.27.

Indonesia stocks higher at close of trade; IDX Composite Index up 0.52%

Indonesia stocks were higher after the close on Wednesday, as gains in the Agriculture, Trade and Property sectors led shares higher.At the close in Jakarta, the IDX Composite Index added 0.52% to hit a new 1-month high.The best performers of the session on the IDX Composite Index were Metro Realty Tbk (JK:MTSM), which rose 34.91% or 59 points to trade at 228 at the close. Meanwhile, Smr Utama Tbk (JK:SMRU) added 34.46% or 61 points to end at 238 and Inti Kapuas Arowana Tbk (JK:IIKP) was up 25.00% or 735.00 points to 3675.00 in late trade.The worst performers of the session were Multistrada Arah Sarana Tbk (JK:MASA), which fell 10.00% or 39 points to trade at 351 at the close. Megapolitan Developments Tbk (JK:EMDE) declined 10.00% or 16 points to end at 144 and Surya Esa Perkasa Tbk (JK:ESSA) was down 9.59% or 175 points to 1650.Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 198 to 133 and 54 ended unchanged.Crude oil for February delivery was down 2.28% or 0.86 to $37.01 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.50% or 0.56 to hit $37.23 a barrel, while the February Gold contract rose 0.18% or 1.90 to trade at $1069.90 a troy ounce.USD/IDR was up 0.92% to 13818.0, while AUD/IDR rose 0.31% to 10062.30.The US Dollar Index was up 0.04% at 98.27.

India stocks lower at close of trade; Nifty 50 down 0.41%

India stocks were lower after the close on Wednesday, as losses in the IT, Technology and Oil&Gas sectors led shares lower.At the close in NSE, the Nifty 50 lost 0.41%, while the BSE Sensex 30 index declined 0.46%.The best performers of the session on the Nifty 50 were Zee Entertainment Enterprises Ltd. (NS:ZEE), which rose 2.85% or 11.85 points to trade at 428.20 at the close. Meanwhile, TATA STEEL LIMITED (NS:TISC) added 1.33% or 3.40 points to end at 258.70 and Tech Mahindra Limited (NS:TEML) was up 1.19% or 6.20 points to 525.15 in late trade.The worst performers of the session were Punjab National Bank (NS:PNBK), which fell 1.83% or 2.20 points to trade at 117.80 at the close. Infosys Ltd (NS:INFY) declined 1.67% or 18.40 points to end at 1086.30 and HCL Technologies Ltd (NS:HCLT) was down 1.64% or 14.00 points to 840.50.The top performers on the BSE Sensex 30 were TATA STEEL LIMITED (BO:TISC) which rose 1.18% to 258.15, Tata Power Co. Ltd (BO:TTPW) which was up 0.82% to settle at 67.70 and Tata Motors Ltd. (BO:TAMO) which gained 0.68% to close at 393.50.The worst performers were Infosys Ltd (BO:INFY) which was down 1.60% to 1086.05 in late trade, Tata Consultancy Services Ltd. (BO:TCS) which lost 1.37% to settle at 2418.40 and State Bank Of India (BO:SBI) which was down 1.18% to 225.80 at the close.Falling stocks outnumbered advancing ones on the India National Stock Exchange by 756 to 714 and 8 ended unchanged; on the Bombay Stock Exchange, 400 fell and 381 advanced, while 20 ended unchanged.Shares in Punjab National Bank (NS:PNBK) fell to 52-week lows; down 1.83% or 2.20 to 117.80.The India Vix, which measures the implied volatility of Nifty 50 options, was up 0.81% to 14.3500.Gold for February delivery was down 0.17% or 1.80 to $1066.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 2.55% or 0.96 to hit $36.91 a barrel, while the February Brent oil contract fell 1.85% or 0.70 to trade at $37.09 a barrel.USD/INR was up 0.19% to 66.380, while EUR/INR rose 0.26% to 72.5330.The US Dollar Index was up 0.08% at 98.31.

Monday, 28 December 2015

Colombia stocks lower at close of trade; COLCAP down 0.87%

Colombia stocks were lower after the close on Monday, as losses in the Financials, Industrials and Investment sectors led shares lower.At the close in Colombia, the COLCAP declined 0.87%.The best performers of the session on the COLCAP were Pfgrupoarg (CN:ARG_p), which rose 2.58% or 380.0 points to trade at 15100.0 at the close. Meanwhile, Avianca Holdings Pf (CN:AVT_p) added 1.48% or 25.0 points to end at 1710.0 and Corp Financiera Colombiana SA (CN:CFV) was up 0.80% or 300.0 points to 37800.0 in late trade.The worst performers of the session were Bcolombia (CN:BIC), which fell 4.59% or 1000.0 points to trade at 20800.0 at the close. Celsia SA (CN:CEL) declined 3.45% or 100.0 points to end at 2800.0 and Pacific Rubiales Energy Corp (CN:PRU) was down 3.06% or 115.0 points to 3640.0.Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 14 to 7 and 2 ended unchanged.US coffee C for March delivery was down 0.56% or 0.68 to $118.92 . Elsewhere in commodities trading, US cocoa for delivery in March fell 0.62% or 20.00 to hit $3199.50 , while the February Gold contract fell 0.75% or 8.10 to trade at $1067.80 a troy ounce.USD/COP was down 0.75% to 3187.95, while BRL/COP rose 1.23% to 826.19.The US Dollar Index was down 0.05% at 97.96.

Russia stocks lower at close of trade; MICEX down 0.17%

Russia stocks were lower after the close on Monday, as losses in the Mining, Manufacturing and Power sectors led shares lower.At the close in Moscow, the MICEX lost 0.17%.The best performers of the session on the MICEX were MegaFon OAO (MCX:MFON), which rose 4.04% or 33.00 points to trade at 849.00 at the close. Meanwhile, Niznekamskneftekhim ao (MCX:NKNC) added 3.66% or 1.500 points to end at 42.500 and AK Transneft OAO Pref (MCX:TRNF_p) was up 2.66% or 4700 points to 181300 in late trade.The worst performers of the session were ALROSA ao (MCX:ALRS), which fell 3.88% or 2.190 points to trade at 54.230 at the close. Trubnaya Metallurgicheskaya Kompaniya OAO (MCX:TRMK) declined 3.23% or 2.05 points to end at 61.50 and MMK (MCX:MAGN) was down 2.09% or 0.380 points to 17.800.Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 128 to 84 and 11 ended unchanged.Shares in Niznekamskneftekhim ao (MCX:NKNC) rose to all time highs; gaining 3.66% or 1.500 to 42.500. Shares in AK Transneft OAO Pref (MCX:TRNF_p) rose to all time highs; gaining 2.66% or 4700 to 181300.The Russian VIX, which measures the implied volatility of MICEX options, was up 0.03% to 36.640.Gold for February delivery was down 0.59% or 6.40 to $1069.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 3.46% or 1.32 to hit $36.78 a barrel, while the February Brent oil contract fell 2.68% or 1.01 to trade at $36.88 a barrel.USD/RUB was up 2.53% to 72.028, while EUR/RUB rose 2.54% to 79.100.The US Dollar Index was down 0.06% at 97.96.

Italy stocks lower at close of trade; Italy 40 down 0.26%

Italy stocks were lower after the close on Monday, as losses in the Technology, Oil&Gas and Industrials sectors led shares lower.At the close in Milan, the  Italy 40 declined 0.26%.The best performers of the session on the Italy 40 were Banca Popolare di Milano Scarl (MI:PMII), which rose 1.71% or 0.0155 points to trade at 0.9200 at the close. Meanwhile, Unipol (MI:UNPI) added 1.27% or 0.060 points to end at 4.774 and Azimut Holding (MI:AZMT) was up 0.88% or 0.20 points to 22.94 in late trade.The worst performers of the session were Tenaris (MI:TENR), which fell 1.86% or 0.2100 points to trade at 11.0600 at the close. STMicroelectronics (MI:STM) declined 1.60% or 0.100 points to end at 6.150 and Moncler SpA (MI:MONC) was down 1.47% or 0.19 points to 12.70.Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 213 to 207 and 8 ended unchanged.Crude oil for February delivery was down 3.41% or 1.30 to $36.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 2.68% or 1.01 to hit $36.88 a barrel, while the February Gold contract fell 0.60% or 6.50 to trade at $1069.40 a troy ounce.EUR/USD was up 0.12% to 1.0977, while EUR/GBP rose 0.38% to 0.7376.The US Dollar Index was down 0.07% at 97.95.

France stocks lower at close of trade; CAC 40 down 0.97%

France stocks were lower after the close on Monday, as losses in the Oil&Gas, Oil&Gas Producers and Banking sectors led shares lower.At the close in Paris, the CAC 40 declined 0.97%, while the SBF 120 index lost 0.84%.The best performers of the session on the CAC 40 were Alstom SA (PA:ALSO), which rose 1.76% or 0.48 points to trade at 27.68 at the close. Meanwhile, Legrand SA (PA:LEGD) added 0.29% or 0.15 points to end at 52.20 and Cap Gemini SA (PA:CAPP) was up 0.13% or 0.11 points to 84.14 in late trade.The worst performers of the session were ArcelorMittal SA (AS:ISPA), which fell 5.21% or 0.22 points to trade at 3.98 at the close. Technip (PA:TECF) declined 2.17% or 1.01 points to end at 45.77 and Renault SA (PA:RENA) was down 1.94% or 1.85 points to 93.40.The top performers on the SBF 120 were Korian Medica SA (PA:KORI) which rose 3.59% to 33.655, Saft (PA:S1A) which was up 2.42% to settle at 28.33 and Alstom SA (PA:ALSO) which gained 1.76% to close at 27.68.The worst performers were ArcelorMittal SA (AS:ISPA) which was down 5.21% to 3.98 in late trade, Europcar Groupe SA (PA:EUCAR) which lost 3.60% to settle at 11.65 and Vallourec (PA:VLLP) which was down 2.57% to 8.96 at the close.Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 450 to 278 and 43 ended unchanged.The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 11.57% to 21.78.Gold for February delivery was down 0.61% or 6.60 to $1069.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 3.41% or 1.30 to hit $36.80 a barrel, while the February Brent oil contract fell 2.68% or 1.01 to trade at $36.88 a barrel.EUR/USD was up 0.12% to 1.0976, while EUR/GBP rose 0.38% to 0.7376.The US Dollar Index was down 0.07% at 97.95.

Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.19%

Denmark stocks were higher after the close on Monday, as gains in the Real Estate, Software&Computer Services and Technology sectors led shares higher.At the close in Copenhagen, the OMX Copenhagen 20 gained 0.19%.The best performers of the session on the OMX Copenhagen 20 were ISS A/S (CO:ISS), which rose 1.52% or 3.70 points to trade at 246.80 at the close. Meanwhile, DSV (CO:DSV) added 0.68% or 1.8 points to end at 267.5 and Pandora A/S (CO:PNDORA) was up 0.65% or 5.5 points to 849.0 in late trade.The worst performers of the session were William Demant Holding (CO:WDH), which fell 1.91% or 12.5 points to trade at 643.5 at the close. Novozymes B (CO:NZYMb) declined 1.07% or 3.5 points to end at 324.3 and FLSmidth&Co. (CO:FLS) was down 0.78% or 1.9 points to 243.1.Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 84 to 79 and 6 ended unchanged.Crude oil for February delivery was down 3.41% or 1.30 to $36.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 2.68% or 1.01 to hit $36.88 a barrel, while the February Gold contract fell 0.61% or 6.60 to trade at $1069.30 a troy ounce.USD/DKK was down 0.12% to 6.7987, while EUR/DKK fell 0.00% to 7.4626.The US Dollar Index was down 0.07% at 97.95.

Japan stocks higher at close of trade; Nikkei 225 up 0.56%

Japan stocks were higher after the close on Monday, as gains in the Shipbuilding, Power and Paper&Pulp sectors led shares higher.At the close in Tokyo, the Nikkei 225 added 0.56%.The best performers of the session on the Nikkei 225 were Sharp Corp. (T:6753), which rose 7.27% or 8.0 points to trade at 118.0 at the close. Meanwhile, Toho Zinc Co., Ltd. (T:5707) added 6.77% or 18.0 points to end at 284.0 and Pioneer Corp. (T:6773) was up 6.58% or 20.0 points to 324.0 in late trade.The worst performers of the session were J.Front Retailing Co., Ltd. (T:3086), which fell 4.93% or 91.0 points to trade at 1756.0 at the close. Bridgestone Corp. (T:5108) declined 1.99% or 84.0 points to end at 4133.0 and Japan Tobacco Inc (T:2914) was down 1.94% or 87.0 points to 4406.0.Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1536 to 339.The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 2.78% to 20.26.Crude oil for February delivery was down 1.04% or 0.40 to $37.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.47% or 0.18 to hit $37.73 a barrel, while the February Gold contract fell 0.29% or 3.10 to trade at $1072.80 a troy ounce.USD/JPY was up 0.16% to 120.47, while EUR/JPY rose 0.22% to 132.16.The US Dollar Index was down 0.06% at 97.95.

European stocks mixed in holiday-thinned trade; Dax dips 0.01%

European stocks were mixed on Monday, as trading volumes were expected to remain thin ahead of the New Year holiday.Global financial markets closed early on Thursday, Christmas Eve, and remained shut for Christmas Day on Friday.Heading into the final week of the year, trading volumes are expected to remain light as many traders already closed books due to the holiday period, reducing liquidity in the market and increasing volatility.During European morning trade, the EURO STOXX 50 fell 0.28%, France’s CAC 40 declined 0.46%, while Germany’s DAX 30 dipped 0.01%.Financial stocks were mostly higher, as French lender Societe Generale (PA:SOGN) rose 0.35%, while Germany's Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.41% and 0.83%.Among peripheral lenders, Italy's Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) added 0.10% and 0.14% respectively, while Spanish bank BBVA (MC:BBVA) edged up 0.21%.Elsewhere, Air France slid 0.29% following a warning on Saturday that a new strike could be held from January 10 to January 13 if the company’s management did not end a disciplinary procedure regarding two pilots involved in violent protests that took place in October.In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.21% fall, S&P 500 futures signaled a 0.21% loss, while the Nasdaq 100 futures indicated a 0.13% slip.

Gold drifts lower in post-Christmas trade

Gold prices drifted lower on Monday after the long Christmas weekend, as investors kept an eye on upcoming U.S. data to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016.Heading into the final week of the year, trading volumes are expected to remain light as many traders already closed books due to the holiday period, reducing liquidity in the market and increasing volatility.Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $3.50, or 0.33%, to trade at $1,072.40 a troy ounce during European morning hours.The U.S. is to release key reports on consumer confidence, pending home sales and jobless claims later this week, as market players look for further indications on the strength of the economy and the future path of U.S. rate hikes.With the first U.S. rate hike since 2006 out of the way, the focus is now on the pace of future rate increases. The Federal Reserve, from its forecasts, is anticipating four rate hikes next year.However, the Fed funds futures currently suggests there will be just two rate increases, one in June and one in December.Mixed U.S. economic reports released last week failed to offer clues as to how fast the U.S. central bank will raise interest rates next year.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was little changed at 97.96 on Monday.The index has fallen back to levels seen before the Federal Reserve raised interest rates on December 17 as investors booked profits on their bullish dollar bets before the end of the year.Gold is on track to post an annual decline of approximately 9% in 2015, the third yearly loss in a row, as speculation over the timing of a Fed rate hike dominated market sentiment for most of the year.Meanwhile, silver futures for March delivery lost 28.4 cents, or 1.98%, to trade at $14.09 a troy ounce. Silver is on track to post an annual decline of 8% in 2015.Elsewhere in metals trading, copper dropped 4.1 cents, or 1.94%, to $2.083 a pound. The red metal is on track to post an annual decline of 29% in 2015 as fears of a China-led global economic slowdown spooked traders and rattled sentiment.The Asian nation is the world’s largest copper consumer, accounting for nearly 45% of world consumption.

Thursday, 24 December 2015

Tokyo's core consumer price inflation 0.1% vs. 0.1% forecast

Tokyo's core consumer price inflation rose last month, official data showed on Thursday.In a report, the Statistics Bureau said that Tokyo's core CPI, which excludes fresh food costs rose to at an annualized rate of 0.1%, from 0.0% in the preceding month.Analysts had expected Tokyo's core CPI to rise to 0.1% l

EUR/USD posts steady gains in abbreviated Christmas Eve session

EUR/USD rose considerably during an abbreviated session, as currency traders looked to capitalize on last-minute gains ahead of the Christmas holiday.The currency pair traded between 1.0904 and 1.0966 before settling near session-highs at 1.0963, up 0.0052 or 0.47% on the session. EUR/USD has been relatively flat since last week's historic decision by the Federal Reserve to abandon a seven-year zero interest rate policy by approving its first rate hike in nearly a decade. The pair is also virtually unchanged since the European Central Bank rattled global foreign exchange markets on December 3 with an unexpected decision to approve only limited easing measures with its comprehensive asset-purchasing program. Following the shocking announcement by ECB president Mario Draghi, the euro surged more than 3% against the dollar on the session, one of its strongest one-day moves of the year.EUR/USD likely gained support at 1.0538, the low from Dec. 3 and was met with resistance at 1.1496, the high from Oct. 15.The U.S. Department of Labor's Bureau of Labor Statistics (BLS) said on Thursday that initial claims for state unemployment benefits fell by 5,000 to a seasonally-adjusted 267,000 for the week ending on Dec. 18. The number of initial claims dipped to near 45-year lows, falling to levels last seen in late-1973. Analysts expected new claims to decelerate slightly by 1,000 to 270,000 on the week. Last Wednesday, Fed chair Janet Yellen cited a tightening labor market that is nearing full employment as the primary factor in the Fed's decision to raise its benchmark Federal Funds Rate.Investors continued to digest solid inflation data from Wednesday's session for further indications on when the Federal Open Market Committee (FOMC) could approve its next rate hike. On Wednesday morning, the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) said the Personal Consumption Expenditure (PCE) price index increased by 0.4% on a yearly basis last month, above 0.2% annual gains in October.The Core PCE index, which strips out volatile food and energy prices, inched up by 0.1% last month, in line with consensus estimates. Over the last year, core prices are up 1.3%, unchanged from October's reading. Core PCE prices, the Fed's preferred gauge for inflation, have fallen below its targeted goal of 2% for every month over the last three years.
Yellen expects long-term inflation to move toward the Fed's targeted objective, as temporary factors from a stronger dollar and dwindling oil prices fade.At last week's historic meeting, the FOMC projected that the upper-bound range for the Fed Funds Rate will increase a full percentage point to 1.5% by the end of 2016. The estimates imply that the FOMC could approve four modest rate hike throughout the course of next year. On Thursday, the CME Group's (O:CME) Fed Watch calculated the probability of a March rate hike at 50.3%, down from 53.6% a session earlier.Yields on the U.S. 10-Year fell by one basis point to 2.24%, while yields on the Germany 10-Year gained a basis point to 0.63%.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, fell by more than 0.40% to an intraday low of 97.96, before settling at 98.02. Earlier this month, the index eclipsed 100.00 to reach its highest level in more than 12 months. With only a handful of sessions left in 2015, the euro is down by more than 9% versus the dollar since the start of the year.EUR/USD has fallen sharply from its level of 1.2104 on New Year's Day, 2015, amid continuing signs of divergence between the Fed and the ECB.

Gold rallies amid weaker dollar, ahead of Christmas holiday

Gold posted modest gains on Thursday amid a weaker dollar, on a thin day of trading in the final session before the Christmas holiday.On the Comex division of the New York Mercantile Exchange, gold for February delivery traded in a tight range between $1,069.30 and $1,076.40 an ounce, before settling at $1,076.10, up 8.00 or 0.75% on the session. Following several days of choppy, volatile trading last week marked by wild fluctuations in metal prices, gold has stabilized throughout the abbreviated week. The precious metal closed on Thursday only several percentage points below its level toward the end of last week after the Federal Reserve abandoned a seven-year zero interest rate policy by approving its first rate hike in nearly a decade.Gold likely gained support at $1,046.20, the low from December 3 and was met with resistance at $1,179.10, the high from Oct. 20.On Thursday, the U.S. Department of Labor's Bureau of Labor Statistics (BLS) said initial claims for state unemployment benefits fell by 5,000 to a seasonally-adjusted 267,000 for the week ending on Dec. 18. The number of initial claims dipped to near 45-year lows, falling to levels last seen in late-1973. Analysts expected new claims to decelerate slightly by 1,000 to 270,000 on the week. Last Wednesday, Fed chair Janet Yellen cited a tightening labor market that is nearing full employment as the primary factor in the Fed's decision to raise its benchmark Federal Funds Rate.Investors continued to digest solid inflation data from Wednesday's session for further indications on when the Federal Open Market Committee (FOMC) could approve its next rate hike. On Wednesday morning, the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) said the Personal Consumption Expenditure (PCE) price index increased by 0.4% on a yearly basis last month, above 0.2% annual gains in October. The Core PCE index, which strips out volatile food and energy prices, inched up by 0.1% last month, in line with consensus estimates.Over the last year, core prices are up 1.3%, unchanged from October's reading. Core PCE prices, the Fed's preferred gauge for inflation, have fallen below its targeted goal of 2% for every month over the last three years. Yellen expects long-term inflation to move toward the Fed's targeted objective, as temporary factors from a stronger dollar and dwindling oil prices fade.At last week's historic meeting, the FOMC projected that the upper-bound range for the Fed Funds Rate will increase a full percentage point to 1.5% by the end of 2016.
The estimates imply that the FOMC could approve four modest rate hike throughout the course of next year. On Thursday, the CME Group's (O:CME) Fed Watch calculated the probability of a March rate hike at 50.3%, down from 53.6% a session earlier.Gold, which is not attached to dividends or interest rates, struggles to compete with high-yield bearing assets in rising rate environments.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, fell by more than 0.40% to an intraday low of 97.96. Earlier this month, the index eclipsed 100.00 to reach its highest level in more than 12 months. Dollar-denominated commodities such as gold become more expensive for foreign purchasers when the dollar appreciates.With only four sessions remaining in 2015, gold is on pace to tumble nearly 9% on the calendar year, as it hovers around six-year lows. The precious metal has encountered severe headwinds over the course of the year from the Fed's policy shift, a sharply appreciating dollar and a perception that it has lost some of its appeal as a safe-haven asset.Silver for March delivery rose 0.078 or 0.55% to close at 14.355 an ounce.Copper for March delivery fell 0.003 or 0.13% to 2.122 a pound.

Wednesday, 23 December 2015

Gold falls mildly amid solid U.S. income, inflation data in November

Gold futures fell slightly as the release of a flurry of economic data, including solid inflation figures, provided the Federal Reserve with leeway to enact further tightening measures when it convenes at a closely-watched meeting in March.On the Comex division of the New York Mercantile Exchange, gold for February delivery traded in a tight range between $1,067.70 and $1,074.90 an ounce before settling at $1,068.70, down 5.30 or 0.49% on the session. After last week's historic Fed rate hike triggered several rounds of frenzied, volatile trading, gold prices have stabilized early this week ahead of the Christmas holiday. Gold prices still remain near six-year lows from the early portions of this month.Gold likely gained support at $1,046.20, the low from December 3 and was met with resistance at $1,134.70, the high from Nov. 3.On Wednesday morning, the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) said U.S. personal income ticked up by 0.3% in November, marking the eighth consecutive month that the figure moved higher. Analysts forecasted gains of 0.2% last month, following a robust increase of 0.4% in October. It came amid an acceleration in wages and salaries for government workers and an $11.6 billion bonus paid to United Auto Workers employees, one of the nation's largest unions.As the labor market continues to tighten, nearing full employment, wages and salaries have also increased exponentially. In November, wages rose by 0.5% following gains of 0.6% a month earlier. The strong gains in personal income should support consumer spending and bolster economic growth over the next year. Consumer spending, which represents roughly two-thirds of U.S. economic activity, increased by 0.3% in November, after remaining flat a month earlier.

In terms of inflation, the Personal Consumption Expenditure (PCE) price index remained flat in November, below consensus expectations for a 0.1% gain. On a yearly basis, though, the PCE price index increased by 0.4%, above 0.2% annual gains. The Core PCE index, which strips out volatile food and energy prices, inched up by 0.1% last month, in line with consensus estimates. Over the last year, core prices are up 1.3%, unchanged from October's reading. Core PCE prices, the Fed's preferred gauge for inflation, have fallen below its targeted goal of 2% for every month over the last three years.The relatively strong inflation data, however, could compel hawkish members of the Federal Open Market Committee (FOMC) to push for another rate hike during the first quarter of next year. In its December monetary policy outlook, the FOMC forecasted that its benchmark Federal Funds Rate could rise by 1.0% over the next 12 months to 1.5% by the end of 2016. On Wednesday, the CME Group's (O:CME) FedWatch placed the probability of a quarter-point hike in March at 53.6%.Gold, which is not attached to dividends or interest rates, struggles to compete with high-yield bearing assets in rising rate environments.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, rose by more than 0.45% to an intraday high of 98.66. Earlier this month, the index eclipsed 100.00 to reach its highest level in more than 12 months.Dollar-denominated commodities such as gold become more expensive for foreign purchasers when the dollar appreciates.Silver for March delivery fell 0.029 or 0.20% to close at $14.295 an ounce.Copper for March delivery gained 0.017 or 0.80% to $2.125 a pound.

U.S. stocks surge in Santa Claus rally, amid rebound in crude futures

U.S. stocks surged on Wednesday extending sharp gains from earlier this week, amid a rebound in slumping oil prices and a Santa Claus rally on the second to last day of trading before the Christmas holiday.Global crude futures soared by more than 3% on Wednesday, after an unexpected draw of 5.9 million barrels in U.S. commercial crude inventories last week. Any draws in crude stockpiles are viewed as bullish for oil, which has tumbled more than 30% this year as an excess of supply continues to greatly outpace demand. Extreme fluctuations in crude prices have weighed heavily on U.S. equities markets since the Federal Reserve ended a seven-year zero interest rate policy last week with its first interest rate hike in nearly a decade.The Dow Jones Industrial Average jumped 185.20 or 1.06% to 17,602.47, while the S&P 500 Composite index added 25.32 or 1.24% to 2,064.29, each posting one of their strongest 3-day moves of the year. The NASDAQ Composite index also eclipsed the symbolic 5,000 level after gaining 44.82 or 0.90% to 5,045.93, on a bullish day for stocks.On the S&P 500, all 10 sectors closed in the green, as stocks in the energy and basic material industries led. In total, seven sectors on Wednesday surged by more than 1%.The top performer on the Dow was Chevron Corporation (N:CVX), which soared by 3.39 or 3.75% to 93.66. In spite of Wednesday's rally, Chevron stocks are still down by more than 20% over the last year. The worst performer was Nike Inc (N:NKE), which fell 3.11 or 2.36% to 128.74, after reversing territory earlier in the session. Nike shares rose considerably on Tuesday in after-hours, following a strong performance in the second quarter.The biggest gainer on the NASDAQ was Celgene Corporation (O:CELG), which surged 10.90 or 9.81% to 122.04. The New Jersey-based biotech extended sharp gains from Tuesday, after it reached a settlement on a patent infringement lawsuit related to generic sales of Revlimid, its top-selling blood cancer drug.

 The worst performer was Bed Bath & Beyond Inc (O:BBBY), which plunged 2.33 or 4.53% to 49.00 after the home furnishing retailer unexpectedly cut its third quarter forecasts.The top performer on the S&P 500 was Freeport-McMoran Copper & Gold Inc (N:FCX), which rallied 1.04 or 16.12% to 7.46. Shares in the prominent gold and copper mining company have slumped by nearly 75% this year, amid a prolonged downturn in global commodities. A number of under performing stocks, including Freeport McMoran rallied on Wednesday following the completion of tax-loss selling, which typically peaks in the final month of the year. Bed, Bath and Beyond was also the worst performer on the S&P 500, just below the CME Group (O:CME) which fell 3.68 or 3.89% to 91.01.On the New York Stock Exchange, advancing issues outnumbered declining ones by a 2,674 to 439 margin.

U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.06%

U.S. stocks were higher after the close on Wednesday, as gains in the Oil&Gas, Basic Materials and Utilities sectors led shares higher.At the close in NYSE, the Dow Jones Industrial Average added 1.06%, while the S&P 500 index added 1.24%, and the NASDAQ Composite index added 0.90%.The best performers of the session on the Dow Jones Industrial Average were Chevron Corporation (N:CVX), which rose 3.92% or 3.54 points to trade at 93.81 at the close. Meanwhile, Exxon Mobil Corporation (N:XOM) added 3.32% or 2.58 points to end at 80.23 and EI du Pont de Nemours and Company (N:DD) was up 2.17% or 1.40 points to 66.03 in late trade.The worst performers of the session were Nike Inc (N:NKE), which fell 2.38% or 3.14 points to trade at 128.71 at the close. Walt Disney Company (N:DIS) declined 1.11% or 1.18 points to end at 105.56 and Pfizer Inc (N:PFE) was up 0.12% or 0.04 points to 32.56.The top performers on the S&P 500 were Freeport-McMoran Copper&Gold Inc (N:FCX) which rose 16.04% to 7.45, Southwestern Energy Company (N:SWN) which was up 14.03% to settle at 6.71 and Williams Companies Inc (N:WMB) which gained 12.27% to close at 25.34.The worst performers were Bed Bath&Beyond Inc (O:BBBY) which was down 4.58% to 48.97 in late trade, Nike Inc (N:NKE) which lost 2.38% to settle at 128.71 and Micron Technology Inc (O:MU) which was down 2.22% to 14.29 at the close.The top performers on the NASDAQ Composite were Adamas Phar (O:ADMS) which rose 82.98% to 30.85, Memorial Production Partners LP (O:MEMP) which was up 51.38% to settle at 2.74 and Globus Maritime Ltd (O:GLBS) which gained 38.89% to close at 0.25.

The worst performers were Northwest Biotherapeutics Inc (O:NWBO) which was down 18.88% to 3.610 in late trade, Fuwei Films Holdings Co Ltd (O:FFHL) which lost 15.72% to settle at 0.750 and Great Basin Scientific Inc (O:GBSN) which was down 14.20% to 1.3900 at the close.Rising stocks outnumbered declining ones on the New York Stock Exchange by 2889 to 546 and 3 ended unchanged; on the Nasdaq Stock Exchange, 1893 rose and 753 declined, while 58 ended unchanged.Shares in Bed Bath&Beyond Inc (O:BBBY) fell to 3-years lows; falling 4.58% or 2.35 to 48.97. Shares in Adamas Phar (O:ADMS) rose to all time highs; up 82.98% or 13.99 to 30.85. Shares in Northwest Biotherapeutics Inc (O:NWBO) fell to 52-week lows; losing 18.88% or 0.840 to 3.610. Shares in Great Basin Scientific Inc (O:GBSN) fell to all time lows; losing 14.20% or 0.2300 to 1.3900.The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 6.33% to 15.55.Gold for February delivery was down 0.44% or 4.70 to $1069.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 4.63% or 1.68 to hit $37.81 a barrel, while the February Brent oil contract rose 4.40% or 1.59 to trade at $37.70 a barrel.EUR/USD was down 0.38% to 1.0916, while USD/JPY fell 0.17% to 120.86.The US Dollar Index was up 0.15% at 98.36.

Canada stocks higher at close of trade; S&P/TSX Composite up 1.54%

Canada stocks were higher after the close on Wednesday, as gains in the Mining, Energy and Materials sectors led shares higher.At the close in Toronto, the S&P/TSX Composite added 1.54%.The best performers of the session on the S&P/TSX Composite were Baytex Energy Corp (TO:BTE), which rose 22.61% or 0.85 points to trade at 4.61 at the close. Meanwhile, Paramount Resources Ltd . (TO:POU) added 19.82% or 1.08 points to end at 6.53 and Bonavista Energy Corp (TO:BNP) was up 17.75% or 0.30 points to 1.99 in late trade.The worst performers of the session were Bombardier Inc (TO:BBDb), which fell 2.94% or 0.04 points to trade at 1.32 at the close. Dominion Diamond Corp (TO:DDC) declined 2.64% or 0.37 points to end at 13.64 and Fairfax Financial Holdings Limited (TO:FFH) was down 2.35% or 15.47 points to 643.95.Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 935 to 500 and 218 ended unchanged.The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 4.69% to 16.86.Gold for February delivery was down 0.44% or 4.70 to $1069.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 4.66% or 1.69 to hit $37.83 a barrel, while the February Brent oil contract rose 4.43% or 1.60 to trade at $37.71 a barrel.CAD/USD was up 0.46% to 0.7217, while CAD/EUR rose 0.85% to 0.6612.The US Dollar Index was up 0.15% at 98.36.

U.K. Index of Services 0.5% vs. 0.6% forecast

The U.K. index of services rose less-than-expected last month, official data showed on Wednesday.In a report, National Statistics said that U.K. Index of Services rose to 0.5%, from 0.7% in the preceding month.Analysts had expected U.K. Index of Services to rise 0.6% l

U.K. business investment 2.2% vs. 2.2% forecast

Buisness investment in the U.K. remained unchanged in the last quarter, official data showed on Wednesday.In a report, National Statistics said that U.K. business investment remained unchanged at a seasonally adjusted 2.2%, from 2.2% in the preceding quarter.Analysts had expected U.K. business investment to remain unchanged at 2.2% in the last quarter

Polish unemployment rate 9.6% vs. 9.7% forecast

The unemployment rate in Poland remained unchanged unexpectedly last month, official data showed on Wednesday.In a report, Central Statistical Office said that Polish Unemployment Rate remained unchanged at a seasonally adjusted 9.6%, from 9.6% in the preceding month.Analysts had expected Polish Unemployment Rate to rise to 9.7% l

Italian Industrial New Orders 4.6%

alian industrial new orders rose last month, official data showed on Wednesday.In a report, Istat said that Italian Industrial New Orders rose to 4.6%, from -2.1% in the preceding month whose figure was revised down from -2.0%.Analysts had expected Italian Industrial New Orders to l

U.S. personal spending rises 0.3% in November


U.S. consumer spending rose in line with market expectations in November, underlining optimism over the health of the economy, official data showed on Wednesday.In a report, the Commerce Department said that personal spending inched up by a seasonally adjusted 0.3% last month, meeting forecasts. Personal spending for October was revised down to a flat reading from a previously reported gain of 0.1%.Consumer spending is the single biggest source of U.S. economic growth, accounting for as much as two-thirds of economic activity.

Monday, 21 December 2015

Russia stocks lower at close of trade; MICEX down 0.13%

Russia stocks were lower after the close on Monday, as losses in the Telecoms, Power and Oil&Gas sectors led shares lower.At the close in Moscow, the MICEX fell 0.13%.The best performers of the session on the MICEX were Polymetal International PLC (MCX:POLY), which rose 6.99% or 37.50 points to trade at 574.00 at the close. Meanwhile, Niznekamskneftekhim ao (MCX:NKNC) added 5.54% or 2.100 points to end at 40.000 and Sberbank Rossii OAO Pref (MCX:SBER_p) was up 3.60% or 2.46 points to 70.70 in late trade.The worst performers of the session were MegaFon OAO (MCX:MFON), which fell 6.85% or 62.00 points to trade at 843.00 at the close. 

MTS (MCX:MTSS) declined 3.81% or 8.45 points to end at 213.05 and MVideo (MCX:MVID) was down 3.20% or 8.80 points to 266.00.Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 113 to 98 and 7 ended unchanged.The Russian VIX, which measures the implied volatility of MICEX options, was up 0.73% to 33.330.Gold for February delivery was up 1.40% or 14.90 to $1079.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 1.16% or 0.42 to hit $35.64 a barrel, while the February Brent oil contract fell 1.75% or 0.65 to trade at $36.23 a barrel.USD/RUB was up 0.45% to 71.250, while EUR/RUB rose 1.16% to 77.785.The US Dollar Index was down 0.28% at 98.46.

Mexico stocks higher at close of trade; IPC up 0.75%

Mexico stocks were higher after the close on Monday, as gains in the Materials, Telecoms Services and Healthcare sectors led shares higher.At the close in Mexico, the IPC gained 0.75%.The best performers of the session on the IPC were America Movil L , S.A.B. De C.V. (MX:AMXL), which rose 5.43% or 0.650 points to trade at 12.710 at the close. Meanwhile, Grupo Financiero Inbursa , SAB De CV (MX:GFINBURO) added 2.22% or 0.700 points to end at 32.230 and Coca-Cola Femsa, S.A.B. De C.V. (MX:KOFL) was up 2.10% or 2.570 points to 125.090 in late trade.

The worst performers of the session were Empresas ICA , S.A.B. De C.V. (MX:ICA), which fell 9.07% or 0.360 points to trade at 3.610 at the close. Genomma Lab Internacional SAB De CV (MX:LABB) declined 2.85% or 0.370 points to end at 12.600 and Grupo Aeroportuario Del Pacifico (MX:GAPB) was down 2.90% or 4.640 points to 155.360.Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 85 to 71 and 4 ended unchanged.Gold for February delivery was up 1.26% or 13.40 to $1078.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 0.73% or 0.27 to hit $35.80 a barrel, while the February Brent oil contract fell 1.84% or 0.68 to trade at $36.20 a barrel.USD/MXN was up 0.52% to 17.2197, while EUR/MXN rose 0.97% to 18.8119.The US Dollar Index was down 0.35% at 98.39.

Brazil stocks lower at close of trade; Bovespa down 1.62%

Brazil stocks were lower after the close on Monday, as losses in the Financials, Basic Materials and Electric Power sectors led shares lower.At the close in Sao Paulo, the Bovespa fell 1.62% to hit a new 5-year low.The best performers of the session on the Bovespa were Oi SA (SA:OIBR4), which rose 7.78% or 0.13 points to trade at 1.80 at the close. Meanwhile, Usinas Siderurgicas de Minas Gerais (SA:USIM5) added 5.52% or 0.08 points to end at 1.53 and Estacio Participacoes SA (SA:ESTC3) was up 2.89% or 0.39 points to 13.90 in late trade.The worst performers of the session were Natura Cosmeticos SA (SA:NATU3), which fell 7.65% or 2.07 points to trade at 25.00 at the close. Vale SA (SA:VALE5) declined 6.53% or 0.68 points to end at 9.74 and Banco do Brasil SA (SA:BBAS3) was down 6.52% or 1.04 points to 14.91.Falling stocks outnumbered advancing ones on the Sao Paulo Stock Exchange by 195 to 141 and 3 ended unchanged.The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 1.42% to 49.36.Gold for February delivery was up 1.27% or 13.50 to $1078.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 0.76% or 0.28 to hit $35.78 a barrel, while the March US coffee C contract fell 1.09% or 1.30 to trade at $117.42 .USD/BRL was up 0.76% to 4.0123, while EUR/BRL rose 1.31% to 4.3845.The US Dollar Index was down 0.35% at 98.39.

Peru stocks lower at close of trade; S&P Lima General down 0.35%

Peru stocks were lower after the close on Monday, as losses in the Mining, Banking&Financials and Electricity sectors led shares lower.At the close in Lima, the S&P Lima General lost 0.35% to hit a new 3-years low.The best performers of the session on the S&P Lima General were Cem Pacasmayo (LM:CPA), which rose 8.50% or 0.380 points to trade at 4.850 at the close. Meanwhile, Milpo (LM:MIL) added 3.66% or 0.060 points to end at 1.700 and Grana Y Monter (LM:GRA) was up 3.09% or 0.060 points to 2.000 in late trade.The worst performers of the session were Buenaventura (LM:BVN), which fell 5.30% or 0.220 points to trade at 3.930 at the close. Aceros Arequip (LM:AREi) declined 3.77% or 0.010 points to end at 0.255 and Volcan Minera (LM:VOL_pb) was down 3.18% or 0.007 points to 0.213.Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 12 to 7 and 6 ended unchanged.Shares in Buenaventura (LM:BVN) fell to all time lows; losing 5.30% or 0.220 to 3.930. Shares in Volcan Minera (LM:VOL_pb) fell to all time lows; losing 3.18% or 0.007 to 0.213.Crude oil for February delivery was down 0.73% or 0.27 to $35.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.88% or 0.69 to hit $36.19 a barrel, while the February Gold contract rose 1.16% or 12.40 to trade at $1077.40 a troy ounce.USD/PEN was up 0.29% to 3.3835, while EUR/PEN rose 0.31% to 3.6655.The US Dollar Index was down 0.31% at 98.43.

Sunday, 20 December 2015

Crude oil futures - weekly outlook: December 21 - 25

West Texas Intermediate oil prices crashed to a fresh seven-year low on Friday, after data showed that rigs drilling for oil in the U.S. rose last week, underlining concerns over robust domestic production.Industry research group Baker Hughes (N:BHI) said late Friday that the number of rigs drilling for oil in the U.S. increased by 17 to 541 last week, the first gain in five weeks.On the New York Mercantile Exchange, crude oil for delivery in January shed 22 cents, or 0.63%, to close the week at $34.73 a barrel. It earlier touched $34.29, the lowest since February 2009. The more actively traded February contract ended at $36.06.For the week, New York-traded oil futures declined 89 cents, or 2.49%, the third straight weekly loss. U.S. oil futures are down nearly 35% so far this year amid worries over ample domestic supplies.

The U.S. Energy Department Wednesday reported an unexpected 4.8 million-barrel increase in U.S. crude stockpiles last week. At 490.7 million barrels, U.S. oil inventories remain near levels not seen for this time of year in at least the last 80 years.Elsewhere, on the ICE Futures Exchange in London, Brent oil for February delivery dipped 18 cents, or 0.49%, on Friday to close the week at $36.88 a barrel. Prices slumped to $36.14 on December 14, a level not seen since the depths of the 2008 global financial crisis.On the week, London-traded Brent futures dropped 97 cents, or 2.77%, the third consecutive weekly decline. Brent oil prices are on track to post an annual decline of 36% in 2015, as oversupply concerns dominated market sentiment for most of the year.Oil futures have fallen sharply this month after the Organization of the Petroleum Exporting Countries failed to agree on output targets to reduce a glut of oversupply on global energy markets.Global crude production is outpacing demand following a boom in U.S. shale oil and after a decision by OPEC last year not to cut production in order to defend market share.Meanwhile, the spread between the Brent and the WTI crude contracts stood at $2.15 a barrel, compared to $2.11 by close of trade on Thursday.The price gap between the two benchmarks narrowed to the smallest level in 11 months earlier this week, following Congress' decision to lift a ban on domestic oil exports, signaling that the U.S. oil market is likely to grow tighter, while a global glut gets worse.In the week ahead, trading volumes are expected to remain light due to the Christmas holiday and as many traders already closed books before the end of the year, reducing liquidity in the market and increasing the volatility.The U.S. is to release key reports on gross domestic product, durable goods orders, home sales and jobless claims.

Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Monday as there is no relevant data on this day.Tuesday, December 22The U.S. is to release final data on third quarter economic growth, as well as a report on existing home sales. Later in the day, the American Petroleum Institute, an industry group, is to publish its weekly report on U.S. oil supplies.Wednesday, December 23The U.S. is release a string of reports, including data on durable goods orders, personal spending, new homes sales, consumer sentiment and crude oil inventories.Thursday, December 24Markets in Germany will remain closed in observance of Christmas Eve.The U.S. is to produce weekly data on initial jobless claims.Friday, December 25Markets in Australia, New Zealand, Europe, the U.K., Switzerland, Canada and the U.S. will remain closed for the Christmas Day holiday.

Forex - Yen, Aussie trade weaker in Asia, light data day

The yen and Aussie held weaker in Asia on Monday with no major data ahead and a holiday-thinned trading week begins.USD/JPY changed hands at 121.30, up 0.12%, while AUD/USD traded at 0.7167, down 0.27%. NZD/USD traded at 0.6730, up 0.06%.In New Zealand, the Westpac consumer sentiment reading rose to 110.7 in the fourth quarter from 106.00 in the previous quarter.In the week ahead, trading volumes are expected to remain light due to the Christmas holiday and as many traders already closed books before the end of the year, reducing liquidity in the market and increasing the volatility.The U.S. is to release key reports on gross domestic product, durable goods orders, home sales and jobless claims.

The dollar index, which measures the greenbacks strength against a trade-weighted basket of six major currencies, ended Friday's session down 0.47% at 98.73.Last week, the yen rose sharply against the U.S. dollar on Friday, after the latest easing measures from the Bank of Japan fell short of market expectations.The BoJ kept its main monetary stimulus target unchanged at ¥80 trillion Friday, but decided to extend the maturity of the Japanese government bonds it purchases from 10 to 12 years and set up a ¥300 billion fund to buy exchange-traded funds.Meanwhile, the U.S. dollar weakened on Friday, one day after rising to a two-week high as markets continued to digest the Federal Reserve's decision to raise interest rates for the first time in nearly a decade.Commenting on the decision, Fed Chair Janet Yellen said the FOMC will not be mechanical in its approach to normalize monetary policy and that future rate hikes would be gradual and data dependent.

NYMEX crude drops in Asia on oversupply, holiday trade ahead


Category: Commodities


Crude oil dipped in Asia on Monday with oversupply the key factor as markets head into a holiday-thinned trading week.On the New York Mercantile Exchange, crude oil for delivery in January dropped 0.62% to $35.84 a barrel.In the week ahead, trading volumes are expected to remain light due to the Christmas holiday and as many traders already closed books before the end of the year, reducing liquidity in the market and increasing the volatility.The U.S. is to release key reports on gross domestic product, durable goods orders, home sales and jobless claims.Last week, West Texas Intermediate oil prices crashed to a fresh seven-year low on Friday, after data showed that rigs drilling for oil in the U.S. rose last week, underlining concerns over robust domestic production.

Industry research group Baker Hughes (N:N:BHI) said late Friday that the number of rigs drilling for oil in the U.S. increased by 17 to 541 last week, the first gain in five weeks.Elsewhere, on the ICE Futures Exchange in London, Brent oil for February delivery dipped 18 cents, or 0.49%, on Friday to close the week at $36.88 a barrel. Prices slumped to $36.14 on December 14, a level not seen since the depths of the 2008 global financial crisis.Oil futures have fallen sharply this month after the Organization of the Petroleum Exporting Countries failed to agree on output targets to reduce a glut of oversupply on global energy markets.Global crude production is outpacing demand following a boom in U.S. shale oil and after a decision by OPEC last year not to cut production in order to defend market share.

Shares in Asia mixed with investors looking ahead to holidays


Shares in Asia were mixed with Tokyo down sharply and Shanghai narrowly up as markets head into a holiday-thinned week.The Nikkei 225 fell 1.75%, while the S&P/ASX 200 eased 0.27% and the Shanghai Composite edged up 0.39%.In the week ahead, trading volumes are expected to remain light due to the Christmas holiday and as many traders already closed books before the end of the year, reducing liquidity in the market and increasing the volatility.

The U.S. is to release key reports on gross domestic product, durable goods orders, home sales and jobless claims.Last week, U.S. stocks fell sharply for the second straight day as crude prices hit a fresh six-year low and the yen dragged down the dollar, after the Bank of Japan startled markets on Friday by unexpectedly expanding its easing program at a key policy meeting.The downturn in oil has weighed heavily on U.S. equities markets in recent sessions. On Friday, the Dow Jones Industrial Average lost 367.39 or 2.10% to 17,128.45, while the S&P 500 Composite index fell 36.37 or 1.78% to 2,005.52, each suffering its worst two-day loss since late-August. The NASDAQ Composite index also dropped by 79.47 or 1.59% to 4,923.08, closing near session-lows.

Thursday, 17 December 2015

Dell cyber security subsidiary

 SecureWorks files for IPO SecureWorks, a subsidiary of Dell, announced on Thursday that it has registered with the Securities and Exchange Commission to carry out an Initial Public Offering of its Class A Common Stock.SecureWorks, an Atlanta-based managed security service, provides early warning signals for evolving cyber threats allowing organizations to respond rapidly to cyber attacks. Founded in 1998 as a private company, SecureWorks expanded swiftly, receiving inclusion on the Inc. 500 and Deloitte's Fast 500 in 2005 and 2006. By 2009, SecureWorks increased its client base to 2,600 in 50 countries after it acquired the managed security services division from VeriSign (O:VRSN).Two years later, SecureWorks was acquired by Dell to become part of the company's Dell Services segment. SecureWorks officially became a subsidiary of Dell in February, 2011.The move came nearly 20 months before Dell went private in 2013 when company founder Michael Dell acquired the multinational computer giant along with Silver Lake Partners, a global technology investment firm.Earlier in the year, SecureWorks expanded its imprint into the South Pacific by launching operations in Australia and New Zealand. The company's operations center in Sydney is regarded among the leaders in the region in conducting penetration and forensic investigative practices to foil suspicious cyber attacks.When Dell filed confidentiality for an IPO with the SEC in early-October, the Wall Street Journal reported that the cybersecurity company could be valued at as much as $2 billion.The IPO is expected to be completed early next year after the SEC completes a review process initiated earlier in the fall, Dell said in a statement.

Gold prices slightly up in early Asia, rebounding from overnight drop


Gold prices nudged higher in Asia on Friday with the focus on the pace of future Federal Reserve rate hikes.On the Comex division of the New York Mercantile Exchange, gold for February delivery rose 0.05% to $1,051.10 a troy ounce.Silver futures for March delivery gained 0.11% to $13.720 a troy ounce, while copper futures for March delivery fell 0.07% to $2.041 a pound.Overnight, gold futures slid by nearly $30 an ounce on Thursday tumbling back down to near six-year lows in their first full session since the Federal Reserve hiked interest rates for the first time in nearly a decade.Gold suffered its worst one-day fall since late-October, marking the seventh session it crashed by more than 2% on the calendar year. At Thursday's intraday lows, gold came within a dollar of dropping to its lowest level since 2009. The precious metal has flirted with multi-year lows since the start of December.Investors on Thursday reacted to the Federal Open Market Committee's historic decision to abandon a zero interest rate policy it maintained over the previous seven years since the height of the Financial Crisis. In a unanimous decision, the FOMC, lifted the Federal Funds Rate by 25 basis points to a range between 0.25 and 0.50%. Before Wednesday's decision, the FOMC had held short-term interest rates at near zero levels for 56 consecutive meetings, a streak which dated back to December, 2008. The Fed Funds Rate is the rate offered by institutions on overnight, interbank loans held at the Fed.Citing solid labor market conditions and expectations that sluggish inflation will improve over the next several years, the FOMC judged the U.S. economy has improved enough to handle a modest interest rate hike. Less than 24 hours after the announcement, global markets maintained a calm temperament, according to a number of prominent analysts providing the Fed with the ideal reaction it had hoped for.Major rate hikes, though, are viewed as bearish for gold, which struggles mightily to compete with high-yield bearing assets.Investors now await two FOMC meetings in the first quarter of fiscal year 2016 for further indications on the Fed's path for normalizing monetary policy. At Wednesday's press conference following the announcement, Fed chair Janet Yellen said the FOMC will employ a data-driven approach for its next rate hike. Unlike the Fed's previous tightening cycle a decade ago, Yellen insists that the U.S. central bank will avoid taking a mechanical course to normalization by approving equally-spaced, evenly-timed rate increases.In median projections released on Wednesday, the FOMC anticipates that Fed Funds Rate will reach 1.4% by the end of 2016, before approaching 2.5% by the completion of 2017.The projections suggest that the FOMC could approve as many as four rate hikes next year.

U.S. stocks halt 3-day win streak, as oil rout outweighs Fed gains



Investing.com -- U.S. stocks tumbled nearly 1%, as a Fed-inspired rally stemming from its historic rate hike a session earlier was dented by the continual downturn in crude oil prices, amid festering concerns related to the supply-demand imbalance on energy markets worldwide.U.S. crude future prices tumbled below $35 a barrel on Thursday, falling near seven-year lows from the start of the week. Over the last year, crude has slumped approximately 50% dragging down energy stocks and equity markets, as a whole. The energy rout has had widespread ramifications on the global economy, impacting major oil-producing states on all corners of the world. While delivering his year-end annual press conference on Thursday, Russia president Vladimir Putin noted that the country's 2016 budget is based on crude at $50 a barrel.The Dow Jones Industrial Average fell 253.11 or 1.43% to 17,495.98, while the NASDAQ Composite index dropped 68.58 or 1.35% to 5,002.55, each halting a three-day winning streak. The S&P 500 Composite index, meanwhile, lost 31.18 or 1.50% to 2,041.89, as nine of 10 sectors closed in the red. Stocks in the Energy, Basic Materials and Industrials sectors lagged, each falling by more than 1.50% on the session. Stocks in the Utilities industry, the lone sector to close in positive territory, led.On Wednesday, the Federal Reserve ended its seven-year policy of holding interest rates at near-zero levels when it approved a modest quarter-point rate hike.The top performer on the Dow was UnitedHealth Group Incorporated (N:UNH), which gained 0.65 or 0.55% to 119.48, one day after analysts at Credit Suisse (VX:CSGN) upgraded its rating to outperform. Earlier this week, Sen. Richard Blumenthal (D – Connecticut) asked the nation's largest healthcare insurer to reconsider its proposed decision to leave the Obamacare state-run health care exchanges. The worst performer was Caterpillar Inc (N:CAT), which fell 2.70 or 3.99% to 65.02, pushed down by cascading prices in mining and other commodities.Shares in Apple Inc (O:AAPL) lost more than 2% 108.98, after the tech giant named Jeff Williams as its Chief Operating Officer in its latest series of leadership changes. Williams' appointment represents the first time Apple (O:AAPL) has restored the title since Tim Cook became CEO in 2011.The biggest gainer on the NASDAQ was Micron Technology Inc (O:MU) which gained 0.21 or 1.49% to 14.28, amid strong valuations from a host of top analysts. Shares in Micron, one of the largest memory semiconductors in the world, are down by nearly 60% this year. The worst performer was Wynn Resorts Limited (O:WYNN), which fell 4.74 or 6.87% to 64.25 after it received a downgrade by analysts at Zacks Investment Research. Last week, Wynn Resorts received a boost after CEO Steve Wynn announced that he was purchasing a million shares in the multinational casino.The top performer on the S&P 500 was CONSOL Energy Inc (N:CNX), which gained 0.27 or 4.05% to 6.94. The worst performer was Freeport-McMoran Copper & Gold Inc (N:FCX), which plunged 0.58 or 8.67% to 6.11. Freeport McMoran, a Phoenix-based mining company, is one of the world's largest producers of gold and copper. Gold futures crashed by $25 an ounce to near multi-year lows on Thursday in the aftermath of the Fed's move.Major interest rate hikes are viewed as bearish for gold, which struggles to compete with high-yield bearing assets.On the New York Stock Exchange, declining issues outnumbered advancing ones by a 1,952 to 1,156 margin.

Wednesday, 16 December 2015

NYMEX crude rebounds in Asia as investors eye dollar, oversupply


Crude oil prices rebounded in Asia on Thursday after a sharp sell-off overnight as investors looked to navigate the prospects of a stronger dollar and vast oversupply going forward.On the New York Mercantile Exchange, WTI crude for January delivery rose 0.24% to $35.77 a barrel. Ahead, U.S. rig count data from Baker Hughes Incorporated (N:BHI) will set the tone.Overnight, U.S. crude futures fell by nearly 5% on Wednesday, as a considerable build in domestic crude stockpiles last week reignited longstanding concerns of oversupply, pushing prices back down to near seven-year lows.Previously, U.S. crude futures rallied by nearly 10% over the last two sessions after touching down to an intraday low of $34.53 on Monday, its lowest level since 2009.On the Intercontinental Exchange (ICE), Brent crude for February delivery traded between $37.17 and $38.74 a barrel before closing at $37.40, down 1.34 or 3.46% on the day.On Wednesday morning, the U.S. Energy Information Administration (EIA) said in its Weekly Petroleum Status Report that commercial crude oil inventories increased by 4.8 million barrels for the week ending on Dec. 11. At 490.7 million barrels, U.S. crude stockpiles remain near levels not seen for this time of year in at least the last 80 years. Total motor gasoline inventories increased by 1.7 million barrels, while distillate fuel inventories rose by 2.6 million barrels for the week.A week earlier, U.S. crude inventories fell by 3.6 million barrels, halting a 10-week streak of supply increases. While analysts expected a draw of 1.4 million barrels on the week, energy traders priced in a build after the American Petroleum Institute reported a supply increase of 2.3 million barrels on Tuesday afternoon after the close of trading. Already down by more than 1% in Wednesday morning's session, WTI crude immediately plunged following the release of the bearish report. At the Cushing Oil Hub in Oklahoma, the key delivery point for NYMEX crude, supply levels increased by 607,000 barrels on the week, above estimates of a 500,000 gain.Elsewhere, investors reacted to reports that the U.S. Congress could be on the verge of repealing a 40-year ban on the majority of domestic crude oil exports. On Tuesday evening, bipartisan leaders from the House of Representatives and the Senate reportedly agreed on the framework of a $1.15 trillion spending bill that will keep the government open through next fall. The bill could proceed to a vote as early as the end of the week, Reuters reported. A lift on the ban could narrow the gap between U.S. and international crude prices by providing foreign purchasers with a cheaper substitute for oil from rivals such as Saudi Arabia and Russia.Market players also responded to news of a quarter-rate point hike by the Federal Reserve on Wednesday afternoon, its first rate increase in more than nine years. A rate hike is viewed as bullish for the dollar, as foreign investors pile into the greenback in an effort to capitalize on higher yields.

Shares in Asia gain after Fed hike, Tokyo jumps


Asian shares followed the U.S., gaining on Thursday after the Federal REserve hiked interest rates for the first time in nearly a decade.The Nikkei 225 jumped 2.08%, while the S&P/ASX 200 rose 1.33%% and the Shanghai Composite edged 0.17% higher. In Asia, Japan reported its trade balance for November was a deficit of Y380.0 billion, narrower than the deficit of ¥446 billion seen.Overnight, U.S. stocks surged on Wednesday afternoon after the Federal Reserve calmed markets by approving its first interest rate hike in nearly a decade, sending a signal to investors that the economy is close to recovering fully from the devastating Financial Crisis of 2008.In a unanimous vote, the Federal Open Market Committee (FOMC) lifted its benchmark Federal Funds Rate by 25 basis points to a range between 0.25 and 0.50%. Before Wednesday's decision, the FOMC had held short-term interest rates at near zero levels for 56 consecutive meetings, a streak which dated back to December, 2008.“This action marks the end of an extraordinary seven-year period during which the federal funds rate was held near zero to support the recovery of the economy from the worst financial crisis and recession since the Great Depression,” Fed chair Janet Yellen said at a press conference in Washington.The major indices were relatively unchanged immediately after the announcement, until a surge in financial stocks led to a sharp rally just before the close. The Dow Jones Industrial Average added 224.18 or 1.28% to 17,749.09, while the NASDAQ Composite index gained 75.77 or 1.52% to 5,071.13, as investors on Wall Street took a collective sigh relief after waiting more than a year for lift-off, following the conclusion of the Fed's comprehensive quantitative easing program.The S&P 500 Composite index, meanwhile, rose 29.66 or 1.45% to 2,073.07, as stocks in nine of 10 sectors closed in the green. Stocks in the Utilities, Telecommunications and Consumer Goods industries led, each gaining more than 1.75% on the session.

Tuesday, 15 December 2015

Gold prices gain slightly in Asia ahead of Fed decision




Gold ticked slightly higher in Asia on Wednesday as investors awaited a widely expected rate hike by the Federal Reserve.On the Comex division of the New York Mercantile Exchange, gold for February delivery rose 0.11% to $1,061.20 a troy ounce.Silver futures for March delivery gained 0.18% to $13.780 a troy ounce, while copper for March delivery eased 0.08% to $2.050 a pound.Overnight, gold was flat on Tuesday in spite of a broadly stronger dollar, as relatively positive Consumer Price Inflation data paved the way for the Federal Reserve to likely approve an interest rate hike when it releases its December monetary policy statement on Wednesday.Gold likely gained support at $1,046.20, the low from December 3 and was met with resistance at $1,121.90, the high from Nov. 4.On Tuesday morning, the U.S. Department of Labor reported that its CPI Index remained unchanged in November from the previous month, in line with analysts' expectations. On a yearly basis, the CPI index edged up by 0.5% over the last 12 months, considerably above gains of 0.2% in October. The Core CPI Index, which strips out volatile food and energy prices, gained 0.2% on the month, also in line with analysts' forecasts. Over the last year, Core CPI has increased by 2.0%, slightly above October's gains of 1.9%. Long-term inflation has remained below the Fed's targeted goal of 2% for every month over the last three years. The Fed's preferred gauge, the Core PCE index, has hovered around 1.25% over the last several months.In a speech earlier this month, Fed chair Janet Yellen noted that while improving conditions in the U.S. economy have met the Federal Open Market Committee's expectations since it last met in October, she emphasized that long-term inflation still remains considerably below the Fed's target. Although the FOMC estimated that Core PCE inflation will pick up noticeably next year and will rise further in 2017, it also projected that long-term inflation will not reach 2% until 2018.The Federal Funds Rate, the Fed's benchmark rate offered on interbank, overnight loans, has remained at its current level between zero and 0.25% since December, 2008, shortly after the start of the Financial Crisis. Any increase of the targeted range for the Federal Funds Rate is expected to be modest at 25 basis points. The FOMC last approved a rate hike in June, 2006. Yellen has continually argued in recent months that the timing of lift-off will pale in comparison to the gradual path of upward moves over the next year.A rate hike is generally viewed as bearish for gold, which is not attached to interest rates and struggles to compete with high-yield bearing assets

Ex-Russian nuclear official sentenced to 48 months for FCPA conspiracy



A former Russian nuclear energy official residing in Maryland was sentenced to 48 months in federal prison on Tuesday for conspiracy to commit money laundering and for charges related to facilitating corrupt payments in order to influence the awarding of a contract involving a prominent Russian state-owned nuclear energy company.Vadim Mikerin, 56, Chevy Chase, Maryland, was also ordered by a federal judge to forfeit more than $2.126 million as part of a sentencing agreement reached with prosecutors.Mikerin pleaded guilty to the charges in August after two co-conspirators offered guilty pleas in connection with the case earlier in the summer. In June, Daren Condrey, 50, pleaded guilty for conspiring to violate the Foreign Corrupt Practices Act (FCPA) and conspiring to commit wire fraud in relation with the multi-year scheme. It came two days after Boris Rubizhevsky, 64, pleaded guilty to conspiracy to commit money laundering in connection with illegally transferring funds outside the U.S.For a 10-year period from 2004 until 2014, Mikerin served as the director of the Pan American Department of Russian state-owned company JSC Technsabexport, more commonly known as TENEX. During the period, TENEX operated as the sole supplier and exporter of Russian Federation uranium and uranium enrichment services to nuclear power companies worldwide.Mikerin along with Condrey and Rubizhevsky conspired to transfer wire payments from bank accounts in the U.S. to shell accounts in Latvia, Cyprus and Switzerland, according to court filings. As part of Mikerin's guilty plea, the energy official admitted that the funds were diverted with the intent to promote a corrupt payment scheme that violated the provisions of the Foreign Corrupt Practices Act. Mikerin also admitted in the plea agreement that the payments were made by a transportation corporation in order to secure an improper business advantage for U.S. companies that conducted transactions with TENEX.In several instances, Mikerin admitted he used code words such as "lucky figure," "cake," and "remuneration," to conceal the true nature of the payments. In total, Mikerin, Condrey and Rubizhevsky conspired to transfer $2.126 million to the offshore shell accounts, according to court records.The case was investigated by the FBI and the Department of Energy's Office of Inspector General.

Amgen increases quarterly dividend by 27% for first quarter of 2016


Category: Stock Market


 Amgen Inc (O:AMGN) announced on Tuesday afternoon that its Board of Directors authorized a $1.00 per share dividend for the first quarter of 2016, representing a 27% increase from its previous declaration.The dividend will be paid on March 8, 2016, to all shareholders of record at the close of business on Feb. 16. The dividend represents a substantial increase from quarterly dividends paid by the pharmaceutical giant in each of the last four quarters. In October, Amgen's board declared a fourth quarter dividend of 0.79 per share, equaling the same dividend it paid for shareholders of record a quarter earlier.The announcement also came one day after Amgen announced that it entered into a definitive agreement with one of its top rivals, GlaxoSmithKline, to reacquire all of its remaining rights to three drugs, which generated more than $110 million in combined sales last year. The agreement provides Amgen with rights to Prolia, an Osteoporosis drug, XGeva, a drug intended to treat multiple myeloma and Vectibix, a drug used in the treatment of metastatic colorectal cancer in 48 countries, including Brazil, China and Australia.Previously, GlaxoSmithKline held select regional rights to Prolia and XGeva since 2009 and Vectibix since 2010."This unique agreement with GSK allows Amgen to regain rights to three important growth products, and to directly serve more patients in key expansion markets," said Robert A. Bradway, chairman and chief executive officer of Amgen. "The agreement also allows Amgen to build additional commercial infrastructure in oncology and bone health, two strategically important therapeutic areas for Amgen with emerging late-stage pipeline assets."Amgen anticipates that the transaction will be accretive to its adjusted earnings in 2017, the company said in a statement.Shares in Amgen fell 4.50 or 2.77% in after-hours trading to 158.11.

Monday, 14 December 2015

F5 Networks CEO Manuel Rivelo resigns due to personal conduct issues


F5 Networks Inc (O:FFIV), a Seattle-based multinational Application Delivery Networking technology company, announced on Monday that John McAdam, chairman of its Board of Directors, will replace Manuel Rivelo as the company's CEO in a move that will be effective immediately.F5 Networks emphasized in a statement released on Monday afternoon that Rivelo resigned from his position for matters regarding "personal conduct issues unrelated to the operations or financials of the Company." Alan Higginson, who currently serves as F5’s Lead Independent Director, has been appointed Non-Executive Chairman of the Board, the company said.“The Board believes John is best suited to lead the Company as F5 continues its evolution to expand our offerings and grow across our product suite. As a longtime F5 executive, John has a deep understanding of our business, operations and strategy, and an appreciation for the hard work and dedication of our employees,” said Mr. Higginson. “The Board is confident his 15 years of leadership experience at F5 will allow him to seamlessly take on the responsibilities of President and CEO, and looks forward to his immediate contributions.”Rivelo was named F5's CEO in April, three months before McAdam entered retirement. McAdam, who was named to Business Insider's 2013 list of the 50 Most Powerful People in Enterprise Tech, previously spent 15 years with the company, helping it increase annual revenue from $108.6 million to close to $2 billion per year.“I look forward to immediately re-engaging on a day to day basis with F5’s dedicated and passionate team of employees as we further our mission to help clients deliver the most secure, fast and reliable applications to anyone, anywhere, at any time," McAdam said. "I am excited about the opportunities F5 has before it in new hybrid cloud architectures, application security and to capitalize on emerging technology trends."Rivelo's departure marks a stunning fall for an executive who helped F5 Networks morph into one of the top emerging companies throughout the world. In 2011, the company received inclusion on Fortune's list of the 100 Fastest-Growing Companies worldwide. A year earlier, the company was also ranked as one of the top ten performing stocks by S&P 500 in 2010. Two years later, F5 gained headlines for powering the network used by the Democratic National Committee for its 2012 convention ahead of the November U.S. presidential election.Shares in F5 Networks inched down by 0.01 or 0.01% to 96.30 in after-hours trading.