Wednesday, 17 August 2016

Australia stocks higher at close of trade; S&P/ASX 200 up 0.11%


Category: Stock Market


Australia stocks were higher after the close on Wednesday, as gains in the Energy, Resources and Consumer Discretionary sectors led shares higher.At the close in Australia, the S&P/ASX 200 gained 0.11%.The best performers of the session on the S&P/ASX 200 were Domino'S Pizza Enterprises Ltd (AX:DMP), which rose 8.39% or 6.220 points to trade at 80.330 at the close. Meanwhile, Sonic Healthcare Ltd (AX:SHL) added 6.37% or 1.410 points to end at 23.550 and Mesoblast Ltd (AX:MSB) was up 5.65% or 0.085 points to 1.590 in late trade.The worst performers of the session were Spotless Fp (AX:SPO), which fell 10.53% or 0.120 points to trade at 1.020 at the close. Qbe Insurance Group Ltd (AX:QBE) declined 8.42% or 0.940 points to end at 10.230 and Evolution Mining Ltd (AX:EVN) was down 5.85% or 0.155 points to 2.495.Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 565 to 505 and 336 ended unchanged.Shares in Domino'S Pizza Enterprises Ltd (AX:DMP) rose to all time highs; gaining 8.39% or 6.220 to 80.330. Shares in Sonic Healthcare Ltd (AX:SHL) rose to 52-week highs; up 6.37% or 1.410 to 23.550.The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.30% to 11.964 a new 52-week low.Gold for December delivery was down 0.60% or 8.15 to $1348.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.54% or 0.25 to hit $46.33 a barrel, while the October Brent oil contract fell 0.71% or 0.35 to trade at $48.88 a barrel.AUD/USD was down 0.30% to 0.7672, while AUD/JPY rose 0.38% to 77.48.The US Dollar Index was up 0.21% at 94.95.

Japan stocks higher at close of trade; Nikkei 225 up 0.90%


Category: Stock Market


Japan stocks were higher after the close on Wednesday, as gains in the Mining, Insurance and Chemical, Petroleum&Plastic sectors led shares higher.At the close in Tokyo, the Nikkei 225 added 0.90%.The best performers of the session on the Nikkei 225 were Sharp Corp. (T:6753), which rose 19.25% or 23.0 points to trade at 142.5 at the close. Meanwhile, Sumitomo Heavy Industries, Ltd. (T:6302) added 8.21% or 39.0 points to end at 514.0 and T&D Holdings, Inc. (T:8795) was up 7.78% or 82.0 points to 1136.0 in late trade.The worst performers of the session were Dainippon Screen Mfg. Co., Ltd. (T:7735), which fell 4.39% or 51.0 points to trade at 1110.5 at the close. Hokuetsu Kishu Paper Co., Ltd. (T:3865) declined 3.78% or 26.0 points to end at 661.0 and Sumitomo Osaka Cement Co., Ltd. (T:5232) was down 3.66% or 18.0 points to 474.0.Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 982 to 946 and 129 ended unchanged.The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 2.15% to 20.44.Crude oil for September delivery was down 0.69% or 0.32 to $46.26 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.95% or 0.47 to hit $48.76 a barrel, while the December Gold contract fell 0.73% or 9.85 to trade at $1347.05 a troy ounce.USD/JPY was up 0.65% to 100.95, while EUR/JPY rose 0.49% to 113.67.The US Dollar Index was up 0.25% at 94.99.

Global stocks mixed on U.S. Fed rate hike talk


Category: Stock Market


Asia mixed; Nikkei 225 up 0.90% as yen drops to 101 vs. dollar.Europe mostly lower as oil slips; DAX declines 0.2%U.S. stock index futures flat ahead of release of FOMC meeting minutes.Dollar index up 0.2% as bets of short-term U.S. rate hike back on the table.Gold lower on stronger dollar; benchmark bond yields mostly lower.

Thursday, 21 July 2016

U.S. stock index futures fall as BoJ stimulus hopes fade


Category: Stock Market


U.S. stock index futures fell Thursday as BoJ stimulus hopes faded.The Dow futures was off 0.08% at 06:30 ET, while the S&P 500 futures fell 0.09%.The tech-heavy Nasdaq 100 futures shed 0.03%The dollar fell as BoJ’s Kuroda Thursday ruled out the need for helicopter money.A slew of U.S. firms to report Q2 earnings later Thursday.U.S. weekly jobless claims and existing home sales due out.

PayPal Q2 EPS estimated at $0.36 on revenues of $2.6 bn


Category: Stock Market


PayPal Holdings Inc (NASDAQ:PYPL) Q2 EPS estimated at $0.36 on revenues of $2.6 bn.The U.S. online payments firm to report after the market closes Thursday.PayPal was spun off from eBay in July 2015; no comparable year-earlier figures.EPS in Q1 came in at $0.37 on revenues of $2.54 billion.PayPal active customer base stood at 184 million at the end of the first quarter.PayPal rumoured to be takeover target; Visa touted as suitor.

Wednesday, 13 July 2016

Australian employment change 7.9K vs. 10.0K forecast


Category: Economic Indicators


Australian employment change rose less-than-expected last month, official data showed on Thursday.In a report, Australian Bureau of Statistics said that Australian employment change rose to a seasonally adjusted 7.9K, from 17.9K in the preceding month.Analysts had expected Australian employment change to rise 10.0K l

Brent, NYMEX rebound in Asia as investors buy following overnight dip


Category: Commodities


Crude oil rebounded in Asia on Thursday as investors bought on a dip overnight on data that showed the summer driving in the season in the U.S. is not making a major impact on demand.On the New York Mercantile Exchange, WTI crude for August delivery rose 1.27% to $45.32 a barrel. On the Intercontinental Exchange (ICE), Brent crude for September delivery gained 1.10% to $46.77 a barrel.Overnight, crude futures fell sharply on Wednesday, retreating back near two-month lows, as investors shrugged off a modest draw in U.S. oil stockpiles placing a greater focus on the sharpest build in distillate fuel inventories in six months.On Wednesday morning, the U.S. Energy Information Administration (EIA) said in its Weekly Petroleum Status Report that commercial crude inventories decreased by 2.5 million barrels last week for the week ending on July 8. At 521.8 million barrels, U.S. crude oil inventories are still at historically high levels for this time of year. The draw fell in line with analysts' estimates for a decline of 3.0 million barrels, while defying expectations from the American Petroleum Institute of gains of 2.2 million barrels.Notably, gasoline inventories increased by 1.2 million barrels for the week, while distillate fuel stockpiles soared by 4.1 million barrels. The gains were concentrated in the Petroleum Administration for Defense Districts 1 (PADD 1) region, which covers a sizeable area of the East Coast. In PADD 1 alone, distillate fuel inventories rose by 1.172 million last week, representing nearly 30% of the overall gains.While consumers continue to spend at the pump at a steady rate, they haven't traveled enough over the key summer driving season to push gasoline inventories dramatically lower or offset the excessive supply gains.With gasoline stockpiles remaining far above their five-year average, refiners have been forced to halt production leading to seasonally-low levels in the so-called "crack spread". On Wednesday, the RBOB crack spread or the premium of a barrel of gas over a barrel of crude hovered around $12, hitting a five-year low for mid-July. By comparison, the spread stood at $18 two months ago and $28 in the middle of last summer.Without a considerable spike in gasoline demand in the coming weeks, refiners could be forced to remain on the sidelines, further squeezing their margins.

Tuesday, 12 July 2016

No credit crunch in wake of Brexit vote - BoE’s Carney


Category: 


Bank of England Governor Mark Carney said there will be no “credit crunch”, in the U.K. following a vote to exit the European Union, because banks will have funds available to lend.The comments came during testimony to Parliament's Treasury Committee on the financial stability report published by the BoE last week.Carney said that credit supply will not constrain the economy, adding that demand, not credit availability, is more likely to wane.Carney also refuted allegations that the central bank attempted to scare voters about the economic risks of a Brexit vote in the run-up to the referendum, describing the allegations as “extraordinary in all senses of the word”.The BoE said before the referendum that a vote to leave the EU could cause a material slowdown in the economy.Earlier Tuesday, the minutes of the BoE's meeting held in the wake of the Brexit vote on 28 July and 1 July showed that a decision to cut banks' capital requirements was unanimous.The BoE lowered a capital requirement for banks, reversing a decision made in March as part of an effort to shield Britain's economy from the fallout from the Brexit vote.Carney said that by relaxing the rules for banks he wanted to take concerns about credit supply off the table.The BoE has also made more than £250 billion available for banks to avoid a liquidity crunch in financial markets and said it expects to pump more stimulus into the economy over the summer.The BoE is to hold its next monthly Monetary Policy Committee meeting on Thursday amid some expectations for a rate cut, but most analysts are expecting a first rate cut only in August.The BoE could potentially cut interest rates to fresh record lows and step up quantitative easing measures to cushion the economy from the impact of the Brexit vote.

India stocks higher at close of trade; Nifty 50 up 0.63%


Category: Stock Market


India stocks were higher after the close on Tuesday, as gains in the Metals, Real Estate and Banking sectors led shares higher.At the close in NSE, the Nifty 50 rose 0.63% to hit a new 6-months high, while the BSE Sensex 30 index climbed 0.66%.The best performers of the session on the Nifty 50 were Hindalco Industries Ltd. (NS:HALC), which rose 4.80% or 6.20 points to trade at 135.25 at the close. Meanwhile, ICICI Bank Ltd . (NS:ICBK) added 4.74% or 11.85 points to end at 261.70 and TATA STEEL LIMITED (NS:TISC) was up 4.68% or 15.30 points to 342.30 in late trade.The worst performers of the session were Tata Power Co. Ltd (NS:TTPW), which fell 1.69% or 1.25 points to trade at 72.70 at the close. Cipla Ltd. (NS:CIPL) declined 1.21% or 6.30 points to end at 515.70 and Coal India Limited (NS:COAL) was down 1.20% or 3.85 points to 317.05.The top performers on the BSE Sensex 30 were Vedanta Ltd (BO:VDAN) which rose 7.34% to 159.50, Hindalco Industries Ltd. (BO:HALC) which was up 4.84% to settle at 135.30 and ICICI Bank Ltd. (BO:ICBK) which gained 4.68% to close at 261.55.The worst performers were Tata Power Co. Ltd (BO:TTPW) which was down 1.49% to 72.75 in late trade, Coal India Limited (BO:COAL) which lost 1.14% to settle at 316.85 and Cipla Ltd. (BO:CIPL) which was down 0.99% to 516.20 at the close.Falling stocks outnumbered advancing ones on the India National Stock Exchange by 842 to 632 and 53 ended unchanged; on the Bombay Stock Exchange, 942 fell and 683 advanced, while 51 ended unchanged.Shares in Hindalco Industries Ltd. (NS:HALC) rose to 52-week highs; gaining 4.80% or 6.20 to 135.25. Shares in Vedanta Ltd (BO:VDAN) rose to 52-week highs; up 7.34% or 10.90 to 159.50. Shares in Hindalco Industries Ltd. (BO:HALC) rose to 52-week highs; rising 4.84% or 6.25 to 135.30.The India Vix, which measures the implied volatility of Nifty 50 options, was down 0.44% to 14.7825 a new 6-months low.Gold for August delivery was down 0.33% or 4.45 to $1352.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 1.94% or 0.87 to hit $45.63 a barrel, while the September Brent oil contract rose 2.34% or 1.08 to trade at $47.33 a barrel.USD/INR was down 0.00% to 67.156, while EUR/INR rose 0.43% to 74.5520.The US Dollar Index was down 0.35% at 96.24.

U.S. futures point to new record highs ahead of Fed speakers


Category: Stock Market


Wall Street futures pointed to a third consecutive session of gains that could take the S&P 500 to new record highs, while the Nasdaq Composite could mark a new high for the year, as investors looked ahead to a string of Federal Reserve (Fed) speakers and reacted positively to an optimistic start to second quarter (Q2) earnings season, while prospects for more monetary stimulus from the Bank of Japan (BoJ) combined with easing political tensions in Britain boosted appetite for riskier assets..The blue-chip Dow futures gained 76 points, or 0.43%, by 10:59AM GMT, or 6:59AM ET, the S&P 500 futures rose 10 points, or 0.48%, while the tech-heavy Nasdaq 100 futures advanced 23 points, or 0.52%. Alcoa (NYSE:AA) unofficially started the the Q2 earnings season after the close on Monday. Despite a decrease in both profit and revenue, the aluminum maker managed to beat consensus on both figures and shares jumped nearly 4% in Tuesday's pre-market.Later in the week, investors will undoubtedly focus on bank earnings with JP Morgan’s release on Thursday, followed by Citigroup and Wells Fargo on Friday, as well as other financial companies such as BlackRock and PNC Financial Services.On Tuesday, market players looked ahead to a string of comments from Fed officials to gauge the stance on the future path of U.S. monetary policy.Much along the lines of Cleveland Fed president Loretta Mester who avoided commenting on the economy or interest rates in her speech in Sydney, Australia early on Tuesday, further clues were not expected from Fed governor Daniel Tarullo who will give remarks on shadow banking at 13:15GMT, or 9:15AM ET.However, St. Louis Fed president James Bullard is set to speak at 13:35GMT, or 9:35AM ET, on Tuesday to the Gateway Chapter of the National Association for Business Economics, while Minneapolis Fed president Neel Kashkari is expected to give remarks at 21:30GMT, or 5:30PM ET, on the economy and the role of the Federal Reserve System.On the economic calendar, the May job openings and labor turnover survey (JOLTs) will be released at 14:00GMT, or 10:00AM ET. While policymakers already received information from last Friday’s employment report for June, Fed chair Janet Yellen has commented that JOLTs is one of her favorite measures for the health of the U.S. labor market.Elsewhere, risk appetite continued to be boosted by expectations for new stimulus measures. Japan’s Prime Minister Shinzo Abe flagged a fresh fiscal stimulus package on Monday after his ruling coalition won a landslide victory in the Upper House.The coalition’s firmer grip means policymakers can more easily approve a bigger fiscal stimulus package to spur the economy. A stimulus package of at least 10 trillion yen ($97.9 billion) is expected.The yen hit session lows against the dollar on continued speculation for further BoJ intervention after a report that the Japanese government was planning to cut inflation forecasts for this year and provide an estimate of 1.4% for fiscal 2017, well below the central bank’s target of 2.0%.Investor sentiment was also boosted as political uncertainty in the U.K. eased with the imminent appointment of Home Secretary Theresa May as British Prime Minister.In oil markets, crude was higher on Tuesday, bouncing off the prior session's two-month low as investors looked ahead to a monthly report from the Organization of Petroleum Exporting Counties due later in the session to gauge global supply and demand levels.The report could show OPEC production rose by 300,000 barrels a day last month to a nearly eight-year high of 32.7 million barrels a day, due to steadily increasing output from Libya, Nigeria, Saudi Arabia and Iran.U.S. crude futures jumped 2.95% to $46.08 by 11:00AM GMT, or 7:00AM ET, while Brent oil soared 4.20% to $47.73.

Monday, 11 July 2016

Forex - Dollar up more than 1% against yen as Japan stocks rally


Category: Forex


The dollar rose more than 1% against the yen on Monday as Japanese stocks led a rally in Asian markets, boosted by a robust U.S. jobs report and hopes for additional economic stimulus in Japan.USD/JPY hit highs of 101.95 and was last at 101.91, up 1.3% for the day. The pair had fallen to lows of 99.97 in the wake of Friday’s jobs report.EUR/JPY advanced 1.22% to 112.43.Japan’s Nikkei surged 3.98% after Prime Minister Shinzo Abe’s ruling coalition increased its majority in the upper house in parliamentary elections on Sunday.The win for Abe’s coalition fed hopes for a fresh package of stimulus measures to spur economic growth.Risk appetite had already been boosted after data on Friday showing that the U.S. economy added 287,000 jobs in June, well above the 175,000 jobs forecast by economists.The stronger than expected jobs report indicated that the economic recovery is back on track.But the data did little to alter the view that the Federal Reserve will stick to cautious plans for hiking interest rates after May’s payrolls figure was revised down to 11,000, the smallest monthly increase since 2010.The euro edged lower against the dollar, with EUR/USD slipping 0.2% to 1.1027, not far from Friday’s two-week lows of 1.1001.The pound also slid lower, with GBP/USD easing 0.15% to 1.2933, not far from its post-Brexit low of 1.2794 set last Wednesday.Investors were looking ahead to the outcome of the upcoming Bank of England meeting later in the week.The BoE could potentially ease monetary policy to cushion the U.K. economy from the impact of Brexit, which would also pressure sterling lower.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.32% at 96.62.

Global stocks: Japan soars on stimulus hopes, Europe rallies


Category: Stock Market


Nikkei 225 up 4% as ruling coalition election win fuels stimulus hopes.Europe extends rally as DAX opens 1.4% higher.Yen slips vs. dollar as U.S. job data shows recovery remains on track.Bond yields near record lows as Brexit concerns point to stimulus measures.Gold, silver, copper futures higher.

Norwegian CPI 0.6% vs. 0.1% forecast


Category: Economic Indicators


Consumer price inflation in Norway rose more-than-expected last month, official data showed on Monday.In a report, Statistics Norway said that Norwegian CPI rose to a seasonally adjusted 0.6%, from 0.3% in the preceding month.Analysts had expected Norwegian CPI to rise 0.1% l

Friday, 8 July 2016

Japan’s Current Account 1.41T vs. 1.52T forecast


Category: Economic Indicators


Japan’s current account balance rose less-than-expected last month, official data showed on Thursday.In a report, Ministry of Finance said that Japan’s Current Account rose to a seasonally adjusted 1.41T, from 1.63T in the preceding month.Analysts had expected Japan’s Current Account to rise 1.52T l

Japan’s Average Cash Earnings -0.2% vs. 0.5% forecast


Category: Economic Indicators


Japan’s average cash earnings fell unexpectedly in the last quarter, official data showed on Friday.In a report, Japanese Ministry of Health, Labour and Welfare said that Japan’s Average Cash Earnings fell to a seasonally adjusted -0.2%, from 0.0% in the preceding quarter whose figure was revised down from 0.3%.Analysts had expected Japan’s Average Cash Earnings to rise to 0.5% in the last quarter

WD-40 shares fall 4% after spray company lowers full-year sales outlook


Category: Stock Market


 Shares in WD-40 Company (NASDAQ:WDFC) fell more than 4% in after-hours trading after the San Diego-based spray company missed analysts' quarterly revenue forecasts and lowered its full-year guidance on Thursday.During the company's third quarter of fiscal year 2016, which ended in late-May, WD-40 reported $12.7 million in net profits or earnings of 0.88 per share, slightly above earnings of $11 million or 0.75 per share over the same quarter a year earlier. At the same time, the company increased quarterly revenues by 4.3% to $96.4 million, amid a spike in maintenance product sales. For the quarter, sales in the division rose by 6%, driven primarily by sharp increases in WD-40's Multi-Use and Specialist products.Nevertheless, further gains from WD-40 were limited by unfavorable currency translation among the company's foreign subsidiaries. On a constant currency basis, the penetrating and water displacing spray company said revenues for the three-month period would have increased to $99.2 million for the quarter and $293 million year-to-date.Analysts expected to see earnings per share of 0.86 on revenues of $99 million for the period."We had a good quarter and are pleased we have seen solid year-over-year sales growth in maintenance products throughout all three of our trading blocs during the third quarter," WD-40 CEO Garry Ridge said in a statement. " Overall, we believe the tribe has positioned us for a strong finish to fiscal year 2016 and we are pleased that we will be able to reward them for their hard work across the globe."Moving forward, WD-40 anticipates to post full-year revenue of $378 to $383 million, down from prior estimates of $385 to $394 million.Shares in WD-40 lost 4.69 or 4.05% to 111.20 in after-hours trading.

Germany’s Trade Balance 22.2B vs. 23.8B forecast


Category: Economic Indicators


Germany’s trade balance fell more-than-expected last month, official data showed on Friday.In a report, Destatis said that Germany’s Trade Balance fell to 22.2B, from 24.1B in the preceding month whose figure was revised up from 24.0B.Analysts had expected Germany’s Trade Balance to fall to 23.8B l

Wednesday, 6 July 2016

Australian retail sales 0.2% vs. 0.3% forecast


Category: Economic Indicators
Retail sales in Australia rose less-than-expected last month, official data showed on Tuesday.In a report, Australian Bureau of Statistics said that Australian retail sales rose to a seasonally adjusted 0.2%, from 0.2% in the preceding month.Analysts had expected Australian retail sales to rise 0.3% l

Japan stocks lower at close of trade; Nikkei 225 down 1.85%


Category: Stock Market
Japan stocks were lower after the close on Wednesday, as losses in the Rubber, Shipbuilding and Financial Services sectors led shares lower.At the close in Tokyo, the Nikkei 225 declined 1.85%.The best performers of the session on the Nikkei 225 were Hokuetsu Kishu Paper Co., Ltd. (T:3865), which rose 3.08% or 22.0 points to trade at 736.0 at the close. Meanwhile, Maruha Nichiro Corp (T:1333) added 2.40% or 65.0 points to end at 2778.0 and Nippon Telegraph&Telephone Corp (T:9432) was up 2.17% or 107.0 points to 5044.0 in late trade.The worst performers of the session were Taiyo Yuden Co., Ltd. (T:6976), which fell 7.94% or 69.0 points to trade at 800.0 at the close. Nippon Kayaku Co., Ltd. (T:4272) declined 6.94% or 70.0 points to end at 939.0 and SUMCO Corp. (T:3436) was down 6.36% or 42.0 points to 618.0.Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1654 to 318 and 70 ended unchanged.Shares in Taiyo Yuden Co., Ltd. (T:6976) fell to 3-years lows; falling 7.94% or 69.0 to 800.0. Shares in Nippon Kayaku Co., Ltd. (T:4272) fell to 3-years lows; losing 6.94% or 70.0 to 939.0.The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 10.28% to 30.57.Crude oil for August delivery was down 0.17% or 0.08 to $46.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.19% or 0.09 to hit $47.87 a barrel, while the August Gold contract rose 0.75% or 10.25 to trade at $1368.95 a troy ounce.USD/JPY was down 0.71% to 101.03, while EUR/JPY fell 0.85% to 111.73.The US Dollar Index was up 0.08% at 96.35.

Tuesday, 21 June 2016

Sri Lanka stocks lower at close of trade; CSE All-Share down 0.22%


Category: Stock Market
Sri Lanka stocks were lower after the close on Tuesday, as losses in the Trading, Banking, Financials&Insurance and Telecoms sectors led shares lower.At the close in Colombo, the CSE All-Share declined 0.22%.The best performers of the session on the CSE All-Share were Selinsing PLC (CM:SELI), which rose 19.20% or 259.20 points to trade at 1609.00 at the close. Meanwhile, SMB Leasing PLC (CM:SEMB) added 14.29% or 0.1000 points to end at 0.8000 and Sathosa Motors PLC (CM:SMOT) was up 12.91% or 36.60 points to 320.00 in late trade.The worst performers of the session were Serendib Land PLC (CM:SLND), which fell 21.74% or 361.20 points to trade at 1300.00 at the close. Kelani Valley Plantations PLC (CM:KVAL) declined 10.19% or 6.30 points to end at 55.50 and Ceylon Hotels Corporation PLC (CM:CHOT) was down 7.23% or 1.70 points to 21.80.Falling stocks outnumbered advancing ones on the Colombo Stock Exchange by 83 to 77 and 48 ended unchanged.Shares in Serendib Land PLC (CM:SLND) fell to 52-week lows; falling 21.74% or 361.20 to 1300.00.Crude oil for August delivery was down 0.94% or 0.47 to $49.49 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August fell 1.01% or 0.51 to hit $50.14 a barrel, while the August Gold contract fell 0.76% or 9.85 to trade at $1282.25 a troy ounce.GBP/LKR was up 0.34% to 213.785, while USD/LKR rose 0.02% to 145.690.The US Dollar Index was down 0.16% at 93.53.

Indonesia stocks higher at close of trade; IDX Composite Index up 0.31%


Category: Stock Market
Indonesia stocks were higher after the close on Tuesday, as gains in the Property, Consumer Industry and Basic Industry sectors led shares higher.At the close in Jakarta, the IDX Composite Index rose 0.31%.The best performers of the session on the IDX Composite Index were Bintang Mitra Semestaraya Tbk (JK:BMSR), which rose 28.95% or 33.00 points to trade at 147.00 at the close. Meanwhile, Steady Safe TBK PT (JK:SAFE) added 17.65% or 18 points to end at 120 and Alam Sutera Realty Tbk (JK:ASRI) was up 16.27% or 68 points to 486 in late trade.The worst performers of the session were Bank Qnb Indonesia Tbk (JK:BKSW), which fell 9.84% or 38 points to trade at 348 at the close. Global Teleshop Tbk (JK:GLOB) declined 9.82% or 55 points to end at 505 and Dwi Aneka Jaya Kemasindo Tbk (JK:DAJK) was down 9.78% or 9.00 points to 83.00.Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 161 to 124 and 98 ended unchanged.Crude oil for August delivery was down 0.60% or 0.30 to $49.66 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August fell 0.69% or 0.35 to hit $50.30 a barrel, while the August Gold contract fell 0.70% or 9.00 to trade at $1283.10 a troy ounce.USD/IDR was down 0.09% to 13248.0, while AUD/IDR rose 0.49% to 9935.05.The US Dollar Index was down 0.20% at 93.49.

Dollar hits fresh 1-week lows, eyes on Yellen testimony


Category: Forex
The dollar fell to fresh one-week lows against the other major currencies on Tuesday, as investors remained cautious ahead of testimony by Federal Reserve Chair Janet Yellen due to begin later in the day.GBP/USD climbed 0.48% to a seven-week high of 1.4761.The pound strengthened after two opinion polls released on Monday indicated that support for the 'Remain' campaign had regained its lead over a vote to exit the 28-member bloc.An ORB poll for the Daily Telegraph newspaper showed that 53% of voters supported the Remain campaign, compared with 46% support for the Leave campaign.A poll published by NatCen also showed Remain on 53% and Leave at 47%.But a poll by YouGov for The Times newspaper showed Leave ahead on 44%, with Remain on 42%.The poll was conducted over the weekend, after the killing of Jo Cox, a Labour Party member and supporter of EU membership.EUR/USD added 0.18% to 1.1335.The dollar was higher against the yen, with USD/JPY up 0.39% at 104.37 and was lower against the Swiss franc, with USD/CHF shedding 0.25% to 0.9592.Earlier Tuesday, Japanâs Finance Minister Taro Aso said Tuesday that officials would not intervene in the currency market lightly.The comments came amid concerns over recent strong gains in the safe haven yen, which tends to be bought by investors in times of heightened market uncertainty.The Australian and New Zealand dollars were stronger, with AUD/USD up 0.56% at 0.7500 and with NZD/USD climbing 0.45% to 0.7151.In the minutes of its June policy meeting released on Tuesday, the Reserve Bank of Australia remained positive about growth and employment in Australia, but still underlined the risks of low inflation.The central bank gave no indication of potential rate cuts in the near future, easing investorsâ concerns that the RBA could lower rates in the next 12 months.Elsewhere, USD/CAD fell 0.27% to trade at 1.2769, the lowest since June 13.The U.S. dollar index, which measures the greenbackâs strength against a trade-weighted basket of six major currencies, was down 0.17% at 93.52, the lowest level since June 9.

Wednesday, 8 June 2016

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.80%


Category: Stock Market


Denmark stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Software&Computer Services and Technology sectors led shares lower.At the close in Copenhagen, the OMX Copenhagen 20 lost 0.80%.The best performers of the session on the OMX Copenhagen 20 were Chr. Hansen Holding A/S (CO:CHRH), which rose 0.77% or 3.2 points to trade at 421.5 at the close. Meanwhile, GN Store Nord (CO:GN) added 0.59% or 0.8 points to end at 137.0 and William Demant Holding AS (CO:WDH) was up 0.22% or 0.3 points to 139.7 in late trade.The worst performers of the session were Genmab (CO:GEN), which fell 2.61% or 33.0 points to trade at 1233.0 at the close. Jyske Bank A/S (CO:JYSK) declined 1.95% or 5.3 points to end at 266.6 and Vestas Wind Systems A/S (CO:VWS) was down 1.77% or 8.4 points to 465.8.Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 96 to 51 and 17 ended unchanged.Crude oil for July delivery was up 1.63% or 0.82 to $51.18 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 1.89% or 0.97 to hit $52.41 a barrel, while the August Gold contract rose 1.29% or 16.05 to trade at $1263.05 a troy ounce.USD/DKK was down 0.41% to 6.5204, while EUR/DKK fell 0.00% to 7.4359.The US Dollar Index was down 0.37% at 93.49

France stocks lower at close of trade; CAC 40 down 0.61%


Category: Stock Market


France stocks were lower after the close on Wednesday, as losses in the Technology, Consumer Services and Financials sectors led shares lower.At the close in Paris, the CAC 40 fell 0.61%, while the SBF 120 index fell 0.65%.The best performers of the session on the CAC 40 were ArcelorMittal SA (AS:ISPA), which rose 2.74% or 0.130 points to trade at 4.880 at the close. Meanwhile, Technip (PA:TECF) added 2.62% or 1.33 points to end at 52.05 and Engie SA (PA:ENGIE) was up 2.58% or 0.36 points to 14.31 in late trade.The worst performers of the session were Societe Generale (PA:SOGN), which fell 2.18% or 0.78 points to trade at 34.94 at the close. Peugeot SA (PA:PEUP) declined 1.87% or 0.27 points to end at 13.89 and Accor SA (PA:ACCP) was down 1.75% or 0.71 points to 39.91.The top performers on the SBF 120 were CGG (PA:GEPH) which rose 23.19% to 0.8500, Vallourec (PA:VLLP) which was up 5.15% to settle at 3.760 and ArcelorMittal SA (AS:ISPA) which gained 2.74% to close at 4.880.The worst performers were Ingenico Group (PA:INGC) which was down 7.23% to 100.75 in late trade, Rexel (PA:RXL) which lost 3.42% to settle at 13.26 and Euronext (PA:ENX) which was down 2.94% to 35.63 at the close.Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 377 to 283 and 115 ended unchanged.The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 4.06% to 22.92.Gold for August delivery was up 1.31% or 16.35 to $1263.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.63% or 0.82 to hit $51.18 a barrel, while the August Brent oil contract rose 1.91% or 0.98 to trade at $52.42 a barrel.EUR/USD was up 0.41% to 1.1405, while EUR/GBP rose 0.36% to 0.7838.The US Dollar Index was down 0.38% at 93.48.

Italy stocks lower at close of trade; Investing.com Italy 40 down 0.12%


Category: Stock Market


Italy stocks were lower after the close on Wednesday, as losses in the Technology, Financials and Chemicals sectors led shares lower.At the close in Milan, the Investing.com Italy 40 fell 0.12%.The best performers of the session on the Investing.com Italy 40 were Saipem (MI:SPMI), which rose 4.87% or 0.0185 points to trade at 0.3980 at the close. Meanwhile, Generali (MI:GASI) added 1.89% or 0.2400 points to end at 12.9500 and Tenaris (MI:TENR) was up 1.73% or 0.2200 points to 12.9600 in late trade.The worst performers of the session were Unicredit (MI:CRDI), which fell 4.57% or 0.1220 points to trade at 2.5500 at the close. UBI Banca (MI:UBI) declined 3.52% or 0.1120 points to end at 3.0720 and Banca Pop Emilia Romagna (MI:EMII) was down 3.21% or 0.144 points to 4.346.Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 254 to 141 and 25 ended unchanged.Shares in Unicredit (MI:CRDI) fell to 3-years lows; down 4.57% or 0.1220 to 2.5500.Crude oil for July delivery was up 1.67% or 0.84 to $51.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 1.92% or 0.99 to hit $52.43 a barrel, while the August Gold contract rose 1.30% or 16.25 to trade at $1263.25 a troy ounce.EUR/USD was up 0.41% to 1.1405, while EUR/GBP rose 0.36% to 0.7838.The US Dollar Index was down 0.38% at 93.48.

Monday, 30 May 2016

Canada stocks lower at close of trade; S&P/TSX Composite down 0.13%


Category: Stock Market
Canada stocks were lower after the close on Monday, as losses in the Mining, Energy and Materials sectors led shares lower.At the close in Toronto, the S&P/TSX Composite fell 0.13%.The best performers of the session on the S&P/TSX Composite were Intertain Group (TO:IT), which rose 5.10% or 0.65 points to trade at 13.39 at the close. Meanwhile, Aimia Inc (TO:AIM) added 4.16% or 0.34 points to end at 8.52 and WestJet Airlines Ltd (TO:WJA) was up 3.47% or 0.77 points to 22.95 in late trade.The worst performers of the session were First Majestic Silver Corp. (TO:FR), which fell 3.34% or 0.45 points to trade at 13.04 at the close. Lundin Mining Corporation (TO:LUN) declined 3.18% or 0.140 points to end at 4.260 and Canadian Energy Services&Technology Corp (TO:CEU) was down 2.89% or 0.100 points to 3.360.Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 586 to 507 and 153 ended unchanged.The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 4.82% to 13.05.Gold for August delivery was down 0.76% or 9.20 to $1207.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.59% or 0.29 to hit $49.62 a barrel, while the August Brent oil contract rose 0.72% or 0.36 to trade at $50.31 a barrel.CAD/USD was down 0.17% to 0.7662, while CAD/EUR fell 0.39% to 0.6879.The US Dollar Index was down 0.01% at 95.72.

United Arab Emirates stocks lower at close of trade; DFM General down 1.61%


Category: Stock Market
United Arab Emirates stocks were lower after the close on Monday, as losses in the Insurance, Banking and Consumer Staples sectors led shares lower.At the close in Dubai, the DFM General declined 1.61%, while the ADX General index lost 0.88%.The best performers of the session on the DFM General were National Cement Company P.S.C. (DU:NCC), which rose 14.92% or 0.440 points to trade at 3.390 at the close. Meanwhile, Drake&Scull International PJSC (DU:DSI) added 2.03% or 0.011 points to end at 0.554 and Air Arabia PJSC (DU:AIRA) was up 0.78% or 0.010 points to 1.300 in late trade.The worst performers of the session were Oman Insurance Company P.S.C. (DU:OIC), which fell 8.50% or 0.130 points to trade at 1.400 at the close. Takaful House (DU:DTKF) declined 4.90% or 0.025 points to end at 0.485 and Dubai Islamic Bank (DU:DISB) was down 4.06% or 0.220 points to 5.200.The top performers on the ADX General were National Marine Dredging PSC (AD:NMDC) which rose 7.06% to 4.85, Rak Ceramics (AD:RKCE) which was up 1.76% to settle at 3.46 and Commercial Bank International (AD:CBI) which gained 1.00% to close at 2.02.The worst performers were Green Crs Ins (AD:GCIC) which was down 9.41% to 0.770 in late trade, Natl Bk Of Ad (AD:NBAD) which lost 7.20% to settle at 7.61 and Arkan Building Materials Co PJSC (AD:ARKN) which was down 4.71% to 0.8100 at the close.Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 24 to 8 and 4 ended unchanged; on the Abu Dhabi Stock Exchange, 13 fell and 8 advanced, while 10 ended unchanged.Shares in Oman Insurance Company P.S.C. (DU:OIC) fell to all time lows; losing 8.50% or 0.130 to 1.400.Crude oil for July delivery was up 0.59% or 0.29 to $49.62 a barrel. Elsewhere in commodities trading, Brent oil for delivery in August rose 0.72% or 0.36 to hit $50.31 a barrel, while the August Gold contract fell 0.76% or 9.20 to trade at $1207.50 a troy ounce.USD/AED was unchanged 0.00% to 3.6730, while EUR/AED rose 0.23% to 4.0910.The US Dollar Index was down 0.01% at 95.72.

Friday, 13 May 2016

Forex - Dollar slips against yen, edges higher vs. euro


Category: Forex


The dollar slipped lower against the yen on Friday and edged higher against the euro, as investors awaited the release of a string of U.S. economic reports due later in the day.USD/JPY slid 0.36% to 108.64.The greenback had gained ground against the yen earlier in the week after Japanese Finance Minister Taro Aso said on Monday that financial authorities are prepared to intervene in the currency market if excessive moves in the yen are enough to affect the country’s economy.However, Bank of Japan Governor Haruhiko Kuroda said earlier Thursday that it would be difficult for Japan's finance ministry to intentionally weaken the yen to boost exports.EUR/USD slipped 0.15% to 1.1356.Investors were looking ahead to U.S. reports on retail sales, producer prices and consumer sentiment due later in the day, for further indications on the strength of the economy.On Thursday, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 6 increased by 20,000 to 294,000 from the previous week’s total of 274,000. Analysts had expected jobless claims to drop by 4,000 to 270,000 last week.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was edged up 0.15% to 94.25.

Euro zone GDP 0.5% vs. 0.6% forecast


Category: Economic Indicators


Gross domestic product in the euro zone rose less-than-expected in the last quarter, preliminary official data showed on Friday.In a report, Eurostat said that GDP rose to a seasonally adjusted 0.5%, from 0.6% in the preceding quarter.Analysts had expected GDP to rise 0.6% in the last quarter

Euro zone growth is unexpectedly revised down


Category: Economic Indicators


Gross domestic product (GDP) in the euro zone rose less than expected in the first quarter, adding to global growth worries, according to official data released on Friday.In a report, Eurostat said that GDP rose to a seasonally adjusted 0.5%, from 0.3% in the preceding quarter.That was below the initial reading of 0.6% released on April 29 and consensus that was expecting no change.Year-on-year, GDP in the single currency bloc rose 1.5%, also below the initial estimate, the fourth quarter reading and analyst forecasts for growth of 1.6%.The euro zone data was released after Germany, the engine of its economy, surprised earlier on Friday with growth of 0.7% in the first three months of the year.Immediately after the euro zone data, EUR/USD was unchanged at 1.1353, while EUR/GBP was at 0.7874 from 0.7877 earlier.Meanwhile, European stock markets were broadly lower. The EURO STOXX 50 dropped 0.53%, Germany's DAX fell 0.49%, France’s CAC 40 lost 0.57%, while London’s FTSE 100 shed 0.59%.

Monday, 9 May 2016

Australia stocks higher at close of trade; S&P/ASX 200 up 0.32%


Category: Stock Market


Australia stocks were higher after the close on Monday, as gains in the Gold, Consumer Staples and Energy sectors led shares higher.At the close in Australia, the S&P/ASX 200 gained 0.32%.The best performers of the session on the S&P/ASX 200 were Whitehaven Coal Ltd (AX:WHC), which rose 8.33% or 0.055 points to trade at 0.715 at the close. Meanwhile, News Corp B (AX:NWS) added 7.64% or 1.260 points to end at 17.760 and Cleanaway Waste Management Ltd (AX:CWY) was up 5.94% or 0.048 points to 0.848 in late trade.The worst performers of the session were Orica Ltd (AX:ORI), which fell 13.12% or 2.025 points to trade at 13.405 at the close. Sky Network Television Ltd. (AX:SKT) declined 6.73% or 0.290 points to end at 4.020 and Incitec Pivot Ltd (AX:IPL) was down 3.87% or 0.115 points to 2.855.Rising stocks outnumbered declining ones on the Australia Stock Exchange by 590 to 460 and 314 ended unchanged.Shares in Cleanaway Waste Management Ltd (AX:CWY) rose to 52-week highs; rising 5.94% or 0.048 to 0.848.The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 2.21% to 17.840.Gold for June delivery was down 0.92% or 11.95 to $1282.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 1.84% or 0.82 to hit $45.48 a barrel, while the July Brent oil contract rose 1.30% or 0.59 to trade at $45.96 a barrel.AUD/USD was up 0.04% to 0.7371, while AUD/JPY rose 0.42% to 79.30.The US Dollar Index was up 0.10% at 93.92.

Gold down almost 1% as investors reassess U.S. jobs report


Category: Commodities


Gold futures fell sharply in European trade on Monday, as investors viewed Friday’s U.S. jobs data as less disappointing than first thought.The Labor Department reported that the U.S. economy added 160,000 jobs last month, the smallest increase since September and well below the 202,000 jobs forecast by economists. The unemployment rate remained steady at 5%.The one bright sport of the report showed that average hourly earnings rose by eight cents or 0.3%, bringing the year-on-year increase to 2.5% from 2.3% in March.Also weighing on the precious metal were remarks by a senior Federal Reserve official on Friday, who indicated that U.S. interest rates could still rise sooner than expected. New York Fed President William Dudley said that it was reasonable to expect two rate hikes this year despite weaker-than-expected April data on hiring.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose to 94.04 in early trade Monday, the most since April 28. It last stood at 93.92, up 0.1% for the day.Gold for June delivery on the Comex division of the New York Mercantile Exchange fell by as much as 1.1% to a daily low of 1,280.50 a troy ounce, before recovering slightly to $1,282.15 ounce by 06:45GMT, or 02:45AM ET, down $11.85, or 0.92%.On Friday, gold rallied $21.70, or 1.71%. Prices of the precious metal advanced $3.50, or 0.29%, last week, the second straight weekly gain, amid indications the Fed will take a slow and cautious approach to raising interest rates this year.


A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.Prices of the yellow metal are up nearly 20% so far this year as expectations faded that the Fed would move to normalize interest rates due to fears over the global economy.Gold is sensitive to moves in U.S. rates, as a rise would lift the opportunity cost of holding non-yielding assets such as bullion.In the week ahead, investors will continue to focus on U.S. economic reports to gauge if the world's largest economy is strong enough to withstand further rate hikes in 2016, with Friday’s retail sales data in the spotlight. In addition, there are more than a half-dozen Fed speakers on tap as traders search for more clues on the timing of the next U.S. rate hike.Elsewhere on the Comex, silver futures for July delivery shed 11.7 cents, or 0.67%, to trade at $17.41 a troy ounce during morning hours in London, while copper futures declined 3.7 cents, or 1.72%, to $2.117 a pound.New York-traded copper prices plunged 11.7 cents, or 5.62%, last week, its largest weekly loss since early 2015, on worries over China's economy.Monthly trade data released on Sunday, which showed that both exports and imports fell more than expected in April, added to concerns over the health of the world’s second largest economy.Exports slumped 1.8% from a year earlier, worse than forecasts for a decline of 0.1%, while imports dropped 10.9%, compared to expectations for a fall of 5.0%. That left China with a surplus of $45.6 billion last month, the General Administration of Customs said.The Asian nation will also publish data on April consumer and producer price inflation on Tuesday, followed by reports on industrial production, fixed asset investment and retail sales late on Friday.China is the world’s largest copper consumer, accounting for nearly 45% of world consumption.

Japan stocks higher at close of trade; Nikkei 225 up 0.68%


Category: Stock Market


Japan stocks were higher after the close on Monday, as gains in the Retail, Construction and Food sectors led shares higher.At the close in Tokyo, the Nikkei 225 added 0.68%.The best performers of the session on the Nikkei 225 were Sojitz Corp. (T:2768), which rose 7.98% or 17.0 points to trade at 230.0 at the close. Meanwhile, Mitsubishi Heavy Industries, Ltd. (T:7011) added 5.29% or 20.2 points to end at 402.3 and Seven&i Holdings Co., Ltd. (T:3382) was up 4.89% or 220.0 points to 4720.0 in late trade.The worst performers of the session were JFE Holdings, Inc. (T:5411), which fell 5.63% or 86.5 points to trade at 1449.5 at the close. Teijin Ltd. (T:3401) declined 4.19% or 16.0 points to end at 366.0 and Tokyo Electric Power Co., Inc. (T:9501) was down 3.13% or 17.0 points to 526.0.Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1324 to 578 and 101 ended unchanged.The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 7.82% to 27.33.Crude oil for June delivery was up 1.70% or 0.76 to $45.42 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.15% or 0.52 to hit $45.89 a barrel, while the June Gold contract fell 0.99% or 12.75 to trade at $1281.25 a troy ounce.USD/JPY was up 0.41% to 107.56, while EUR/JPY rose 0.52% to 122.80.The US Dollar Index was down 0.01% at 93.82.

Friday, 6 May 2016

Italy stocks lower at close of trade; Investing.com Italy 40 down 0.55%


Category: Stock Market


Italy stocks were lower after the close on Friday, as losses in the Industrials, Telecoms and Oil&Gas sectors led shares lower.At the close in Milan, the Investing.com Italy 40 declined 0.55%.The best performers of the session on the Investing.com Italy 40 were Banco Popolare Sc (MI:BAPO), which rose 4.29% or 0.2250 points to trade at 5.4750 at the close. Meanwhile, Tenaris (MI:TENR) added 2.77% or 0.3100 points to end at 11.5200 and Banca Monte dei Paschi di Siena SpA (MI:BMPS) was up 2.37% or 0.0150 points to 0.6480 in late trade.The worst performers of the session were CNH Industrial NV (MI:CNHI), which fell 2.84% or 0.180 points to trade at 6.150 at the close. Finmeccanica (MI:SIFI) declined 2.81% or 0.300 points to end at 10.390 and Yoox Net-A-Porter Group SpA (MI:YNAP) was down 2.61% or 0.62 points to 23.11.Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 245 to 152 and 17 ended unchanged.Shares in Yoox Net-A-Porter Group SpA (MI:YNAP) fell to 52-week lows; down 2.61% or 0.62 to 23.11.Crude oil for June delivery was up 1.08% or 0.48 to $44.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.24% or 0.56 to hit $45.57 a barrel, while the June Gold contract rose 1.80% or 22.90 to trade at $1295.20 a troy ounce.EUR/USD was up 0.18% to 1.1425, while EUR/GBP rose 0.42% to 0.7907.The US Dollar Index was down 0.10% at 93.64.

France stocks lower at close of trade; CAC 40 down 0.42%


Category: Stock Market


France stocks were lower after the close on Friday, as losses in the Financials, Technology and Healthcare sectors led shares lower.At the close in Paris, the CAC 40 fell 0.42%, while the SBF 120 index declined 0.43%.The best performers of the session on the CAC 40 were Veolia Environnement VE SA (PA:VIE), which rose 1.37% or 0.270 points to trade at 20.030 at the close. Meanwhile, Total SA (PA:TOTF) added 0.93% or 0.40 points to end at 42.94 and Pernod Ricard SA (PA:PERP) was up 0.89% or 0.84 points to 95.31 in late trade.The worst performers of the session were AXA SA (PA:AXAF), which fell 5.61% or 1.22 points to trade at 20.43 at the close. Lafargeholcim Ltd (PA:LHN) declined 1.79% or 0.72 points to end at 39.44 and ArcelorMittal SA (AS:ISPA) was down 1.17% or 0.06 points to 4.64.The top performers on the SBF 120 were Rubis (PA:RUBF) which rose 4.26% to 70.31, Vallourec (PA:VLLP) which was up 2.11% to settle at 3.78 and Veolia Environnement VE SA (PA:VIE) which gained 1.37% to close at 20.030.The worst performers were AXA SA (PA:AXAF) which was down 5.61% to 20.43 in late trade, Lagardere S.C.A. (PA:LAGA) which lost 5.59% to settle at 21.88 and Sopra Steria Group SA (PA:SOPR) which was down 3.87% to 114.20 at the close.Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 365 to 262 and 108 ended unchanged.Shares in Lagardere S.C.A. (PA:LAGA) fell to 52-week lows; falling 5.59% or 1.29 to 21.88.The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 3.61% to 23.43.Gold for June delivery was up 1.84% or 23.45 to $1295.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 1.08% or 0.48 to hit $44.80 a barrel, while the July Brent oil contract rose 1.24% or 0.56 to trade at $45.57 a barrel.EUR/USD was up 0.18% to 1.1426, while EUR/GBP rose 0.44% to 0.7909.The US Dollar Index was down 0.10% at 93.64.

Thursday, 5 May 2016

Gold posts mild gains, ending 3-day skid ahead of key April jobs report


Category: Commodities
Investing.com -- Gold futures inched higher on Thursday, halting a brief three-day losing streak amid a resurgent dollar, as investors awaited a key U.S. monthly jobs report at week's end for clearer indications on the strength of the world's largest economy.On the Comex division of the New York Mercantile Exchange, gold for June delivery traded in a broad range between $1,275.50 and $1,288.25 an ounce before settling at $1,278.25, up 3.85 or 0.30% on the session. Gold remains less than 2% below from 15-month highs earlier this week when it surged above the $1,300 level. The precious metal is up by approximately 20% since the start of the year and is on pace for one of its strongest first halves in decades.Gold likely gained support at $1,063.20, the low from January 4 and was met with resistance at $1,322.10, the high from August 8, 2014.On Thursday morning, the U.S. Department of Labor said initial jobless claims increased by 17,000 to 274,000 last week, slightly above consensus estimates of 262,000. The amount represented the largest one-week spike in 16 months. Still, the 4-week Moving Average increased by only 2,000 to 258,000, remaining below the same measure a month ago. It came one day after the ADP Research Institute said private payrolls rose by 156,000 in April, sharply below consensus estimates of 193,000. Over the first three months of the year, the labor market has added an average of 202,000 private jobs per month.When the Bureau of Labor Statistics (BLS) releases its April jobs report on Friday morning, analysts expect an increase of 200,000 in nonfarm payrolls following gains of 215,000 a month earlier. Economists are also anticipating a slight dip in the unemployment rate by 0.1% to 4.9%. The rate has lingered near multi-year lows over the last several months. More critically, analysts will keep a close eye on average hourly wages which are expected to tick up by 0.3%, mirroring a considerable 0.3% uptick in March. Even as the U.S. economy has emerged from a prolonged recession, wages have remained stubbornly low since the Financial Crisis.After holding short-term interest rates steady last month, the Federal Reserve has indicated that it will take a data driven approach with the timing of its next rate hike. 

The Federal Open Market Committee (FOMC) has left its benchmark Federal Funds Rate at its current level between 0.25 and 0.50% in each of its three meetings this year. Any rate hikes by the Fed this year are viewed as bearish for gold, which struggles to compete with high-yield bearing assets in rising rate environments.The FOMC's next meeting in June will come days before a controversial referendum in the U.K. on its status in the European Union. A vote paving the way for a so-called "Brexit," could have broad implications on global financial and foreign exchange markets.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, gained more than 0.55% to an intraday high of 93.86. Despite the gains, the index is still down by more than 6% since early-December. Dollar-denominated commodities such as gold become more expensive for foreign purchasers when the dollar appreciates.Silver for May delivery gained 0.109 or 0.63% to $17.410 an ounce.Copper for May delivery fell by 0.034 or 1.53% to $2.153 a pound.

Spain stocks higher at close of trade; IBEX 35 up 0.41%


Category: Stock Market
Spain stocks were higher after the close on Thursday, as gains in the Chemical, Petroleum&Plastic, Telecoms&IT and Consumer Services sectors led shares higher.At the close in Madrid, the IBEX 35 added 0.41%.The best performers of the session on the IBEX 35 were Repsol (MC:REP), which rose 4.68% or 0.505 points to trade at 11.305 at the close. Meanwhile, Mediaset ESP (MC:TL5) added 4.61% or 0.510 points to end at 11.580 and Sacyr (MC:SCYR) was up 3.65% or 0.062 points to 1.762 in late trade.The worst performers of the session were Obrascon Huarte Lain (MC:OHL), which fell 2.09% or 0.123 points to trade at 5.757 at the close. Bankia (MC:BKIA) declined 1.68% or 0.013 points to end at 0.763 and Banco Popular (MC:POP) was down 1.51% or 0.032 points to 2.092.Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 106 to 81 and 21 ended unchanged.Gold for June delivery was up 0.22% or 2.85 to $1277.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 2.17% or 0.95 to hit $44.73 a barrel, while the July Brent oil contract rose 1.55% or 0.69 to trade at $45.31 a barrel.EUR/USD was down 0.71% to 1.1404, while EUR/GBP fell 0.62% to 0.7875.The US Dollar Index was up 0.51% at 93.75.

Wednesday, 4 May 2016

Morocco stocks higher at close of trade; Moroccan All Shares up 0.87%


Category: Stock Market
Morocco stocks were higher after the close on Wednesday, as gains in the Utilities, Mining and Insurance sectors led shares higher.At the close in Casablanca, the Moroccan All Shares rose 0.87% to hit a new 52-week high.The best performers of the session on the Moroccan All Shares were Sonasid (CS:SOND), which rose 10.00% or 43 points to trade at 476 at the close. Meanwhile, SMI (CS:SMI) added 6.00% or 150 points to end at 2650 and Managem (CS:MNG) was up 5.99% or 50 points to 892 in late trade.The worst performers of the session were Residences Dar Saada SA (CS:RDS), which fell 2.11% or 4.00 points to trade at 185.00 at the close. Salafin (CS:SLF) declined 1.87% or 15 points to end at 785 and Lesieur Cristal (CS:LESU) was down 1.69% or 2.20 points to 127.30.Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 25 to 13 and 6 ended unchanged.Crude oil for June delivery was down 0.71% or 0.31 to $43.34 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 1.42% or 0.64 to hit $44.33 a barrel, while the June Gold contract fell 1.06% or 13.75 to trade at $1278.05 a troy ounce.EUR/MAD was down 0.14% to 10.9960, while USD/MAD fell 0.14% to 9.5640.The US Dollar Index was up 0.28% at 93.28.

Spain stocks lower at close of trade; IBEX 35 down 1.26%


Category: Stock Market
Spain stocks were lower after the close on Wednesday, as losses in the Financial Services&Real Estate, Telecoms&IT and Consumer Goods sectors led shares lower.At the close in Madrid, the IBEX 35 declined 1.26%.The best performers of the session on the IBEX 35 were Acerinox (MC:ACX), which rose 2.10% or 0.210 points to trade at 10.235 at the close. Meanwhile, Arcel. Mittal (MC:MTS) added 1.33% or 0.062 points to end at 4.710 and Tecnicas Reunidas (MC:TRE) was up 1.03% or 0.290 points to 28.485 in late trade.The worst performers of the session were Banco Santander (MC:SAN), which fell 2.45% or 0.102 points to trade at 4.058 at the close. Banco Popular (MC:POP) declined 2.44% or 0.053 points to end at 2.124 and BBVA (MC:BBVA) was down 2.26% or 0.129 points to 5.586.Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 134 to 61 and 14 ended unchanged.Gold for June delivery was down 0.88% or 11.40 to $1280.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June rose 0.27% or 0.12 to hit $43.77 a barrel, while the July Brent oil contract fell 0.40% or 0.18 to trade at $44.79 a barrel.EUR/USD was down 0.05% to 1.1492, while EUR/GBP rose 0.25% to 0.7930.The US Dollar Index was up 0.25% at 93.25.

Netherlands stocks lower at close of trade; AEX down 1.02%


Category: Stock Market
Netherlands stocks were lower after the close on Wednesday, as losses in the Healthcare, Oil&Gas and Telecoms sectors led shares lower.At the close in Amsterdam, the AEX lost 1.02%.The best performers of the session on the AEX were ArcelorMittal SA (AS:ISPA), which rose 1.16% or 0.05 points to trade at 4.70 at the close. Meanwhile, ABN AMRO Group NV (AS:ABNd) added 1.00% or 0.18 points to end at 18.75 and Boskalis Westmin (AS:BOSN) was up 0.84% or 0.30 points to 36.11 in late trade.The worst performers of the session were Royal Dutch Shell A (AS:RDSa), which fell 2.76% or 0.62 points to trade at 21.84 at the close. KPN Kon (AS:KPN) declined 1.65% or 0.057 points to end at 3.393 and ING Groep NV (AS:ING) was down 1.64% or 0.170 points to 10.210.Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 113 to 48 and 9 ended unchanged.The AEX Volatility, which measures the implied volatility of AEX options, was up 1.45% to 23.94.Crude oil for June delivery was up 0.27% or 0.12 to $43.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.42% or 0.19 to hit $44.78 a barrel, while the June Gold contract fell 0.88% or 11.35 to trade at $1280.45 a troy ounce.EUR/USD was down 0.05% to 1.1492, while EUR/GBP rose 0.25% to 0.7930.The US Dollar Index was up 0.25% at 93.25.

Monday, 18 April 2016

Forex - Aussie holds weaker in Asia as investors expect easier policy


Category: Forex


The Aussie fell sharply after major oil producers failed to reach a deal on an output freeze that has implications for monetary policy as crude oil prices dipped sharply on the news.AUD/USD traded down 0.76% to 0.7666, while USD/JPY changed hands at 108.11, down 0.62%. Weaker oil prices are seen as aiding current easy monetary policies globally.New Zealand said first quarter consumer prices rose 0.2%, more than the 0.1% seen quarter-on-quarter and a 0.4% gain seen year-on-year which came in as expected.NZD/USD traded down 0.16% to 0.6906. The data are in line with the Reserve Bank of New Zealand's projections in its March Monetary Policy Statement, according to ASB chief economist Nick Tuffley."Overall, the data published by Stats NZ suggest that, although core inflation pressure is still low, they are starting to lift which may provide the RBNZ with confidence that inflation expectations will also stabilize and recover," Tuffley said.In China, house prices rose 4.9% for March year-on-year, above the 3.6% gain seen.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.01% to 94.69.In the week ahead the economic calendar is light, with the U.S. set to release housing sector data.


The European Central Bank will hold its monetary policy meeting on Thursday and the euro zone is to release data on private sector activity on Friday.Last week, the dollar slid against the other major currencies on Friday following the release of lackluster U.S. economic reports, but the greenback still ended the week higher.The drop in the dollar came after reports showing that U.S. industrial production fell more than expected in March and consumer sentiment deteriorated slightly this month.The University of Michigan said the preliminary reading of its consumer sentiment index came in at 89.7 in April, down from 91.0 in March and lower than the 92.0 reading forecast by economists.Another report showed that U.S. industrial output fell 0.6% in March, worse than the 0.1% decline economists had expected.The reports underlined the view that the Federal Reserve is likely to stick to a cautious approach on future interest rates increases.

Shares in Asia drop as failure to freeze oil output weighs


Category: Stock Market


Asian sahres fell on Monday as markets took a dim view of failure by major oil producers to freeze output, ensuring a global glut of the commodity for the time being.The yuan rose against the dollar on Monday after the People's Bank of China set a first stronger fixing for three sessions at 6.4787 comparedwith 6.4908.The Shanghai Composite was down 1.31%. Hong Kong's Hang Seng index was down 1.21%. The Nikkei 225 fell 2.92%, while the S&P/ASX 200 fell 0.27%.Earlier, New Zealand said first quarter consumer prices rose 0.2%, more than the 0.1% seen quarter-on-quarter and a 0.4% gain seen year-on-year which came in as expected.The data are in line with the Reserve Bank of New Zealand's projections in its March Monetary Policy Statement, according to ASB chief economist Nick Tuffley."Overall, the data published by Stats NZ suggest that, although core inflation pressure is still low, they are starting to lift which may provide the RBNZ with confidence that inflation expectations will also stabilize and recover," Tuffley said.In China, house prices rose 4.9% for March year-on-year, above the 3.6% gain seen.Last week, U.S. stocks were lower after the close on Friday, as losses in the Oil & Gas, Technology and Financials sectors led shares lower.At the close in NYSE, the Dow Jones Industrial Average declined 0.16%, while the S&P 500 index declined 0.10%, and the NASDAQ Composite index lost 0.16%.

Australia stocks lower at close of trade; S&P/ASX 200 down 0.36%


Category: Stock Market


Australia stocks were lower after the close on Monday, as losses in the Energy, Resources and Metals&Mining sectors led shares lower.At the close in Australia, the S&P/ASX 200 lost 0.36%.The best performers of the session on the S&P/ASX 200 were Liquefied Natural Gas Ltd (AX:LNG), which rose 21.21% or 0.105 points to trade at 0.600 at the close. Meanwhile, Select Harvests Ltd (AX:SHV) added 6.26% or 0.280 points to end at 4.750 and APN News&Media Ltd (AX:APN) was up 5.60% or 0.033 points to 0.613 in late trade.The worst performers of the session were Qantas Airways Ltd (AX:QAN), which fell 11.08% or 0.450 points to trade at 3.610 at the close. Santos Ltd (AX:STO) declined 7.07% or 0.295 points to end at 3.875 and Worleyparsons Ltd (AX:WOR) was down 6.97% or 0.440 points to 5.870.Falling stocks outnumbered advancing ones on the Australia Stock Exchange by 516 to 497 and 337 ended unchanged.The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 8.79% to 16.972.Gold for June delivery was up 0.23% or 2.90 to $1237.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June fell 4.32% or 1.80 to hit $39.91 a barrel, while the June Brent oil contract fell 4.01% or 1.73 to trade at $41.37 a barrel.AUD/USD was down 0.75% to 0.7667, while AUD/JPY fell 1.48% to 82.79.The US Dollar Index was up 0.04% at 94.72.

Tuesday, 12 April 2016

Bank of Japan's Harada says board will act if needed


Category: Economic Indicators


Bank of Japan board member Yutaka Harada on Wednesday said the central bank should "without hesitation" take additional easy policy if risks facing Japan's economy materialized."Japan's economy is facing risks that would worsen its economy," Harada said in a speech to business leaders in Shimonoseki, Japan. "If they materialized, the virtuous cycle from income to spending would have ceased to operate and the labor market would worsen and then the underlying trend of prices would deteriorate."But he did not offer a guide to any possible steps. He was one of the five board members who agreed to introduce a negative interest rate in January.The BoJ holds its next policy meeting April 27-28, at which the board will release their medium-term outlook for economic growth and theinflation rate until fiscal 2018 to March 2019.

Chinese trade balance 29.86B vs. 30.85B forecast


Category: Economic Indicators


China’s trade balance fell more-than-expected last month, official data showed on Wednesday.In a report, National Bureau of Statistics of China said that Chinese Trade Balance fell to 29.86B, from 32.59B in the preceding month.Analysts had expected Chinese Trade Balance to fall to 30.85B l

Gold prices hold weaker, but copper soars after China trade data


Category: Commodities


Gold prices eased in early Asia on Wednesday with trade data out of China showing a mixed picture after exports unexpectedly soared.On the Comex division of the New York Mercantile Exchange, gold for June delivery fell 0.28% to $1,254.50 a troy ounce.Silver futures for May delivery rose 1.06% to $16.145 a troy ounce, while copper futures jumped 3.85% to $2.171 a pound.In China, March trade data showed a trade balance surplus of $29.86 billion, narrower than the $30.85 billion seen. Exports however jumped 11.5%, handily beating the 2.5% year-on-year gain seen, while imports fell 13.8%, more than the 10.2% decline expected.Overnight, gold closed relatively flat on Tuesday, as the dollar bounced from eight-month lows, offsetting gains from earlier in the session when investors piled into the safe-haven asset after the International Monetary Fund lowered its global economic growth forecasts for the remainder of the year.Since opening the year around $1,065 an ounce, gold has surged more than 18% in 2016 and is on pace for one of its strongest first halves in decades.


On Tuesday morning, the International Monetary Fund (IMF) cut its global growth forecast for 2016 in its latest World Economic Outlook (WEO), citing persistently low oil prices, a continued slowdown in the Chinese economy and weakness in advanced and emerging markets. As a result, the IMF now predicts that the global economy will increase by 3.2% in 2016, down slightly from forecasts of 3.4% three months ago. In advanced economies in particular, the IMF expects modest growth of 2% on the year, amid weak demand, unfavorable demographics and low productivity."Lower growth means less room for error," said Maurice Obstfeld, IMF Economic Counsellor and Director of Research Maurice Obstfeld said in a statement. "Persistent slow growth has scarring effects that themselves reduce potential output and with it, demand and investment."As central banks worldwide continue to rely on negative interest rate policies (NIRPs) in an effort to stave off the threat of deflation, Obstfeld emphasized that major economies cannot solely rely on monetary policy alone to achieve their stated growth targets. Instead, Obstfeld noted that the nations must implement a more potent policy mix, combining revamped structural, fiscal and monetary policies."If national policymakers were to clearly recognize the risks they jointly face and act together to prepare for them, the positive effects on global confidence could be substantial," Obstfeld said.Gold is viewed as a safe-haven for investors in periods of heightened global economic instability.Elsewhere, USD/JPY surged by more than 0.60% to an intraday high of 108.68, likely halting an eight-day losing streak. The dollar remains near a 17-month low against the yen, stemming from fears that widespread easing measures by the Bank of Japan will not be sufficient enough to prevent deflation throughout the Japanese economy. The yen is also viewed as a safe-haven for investors in unsettling economic periods.Meanwhile, Federal Reserve Bank of Dallas president Rob Kaplan reiterated that the Fed should remain data-dependent with the timing of its next interest rate hike, while adding that the U.S. central bank should consider raising rates in June if the economy continues to improve. Last month, the Federal Open Market Committee (FOMC) held its benchmark Federal Funds Rate unchanged at a level between 0.25 and 0.50%."We're trying to get ourselves to a normal level of rates because there's a cost to excessive accommodation," Kaplan told CNBC. "It hurts savers and creates distortions in asset allocation. I think we're going to have to take account of all the data including what currencies are doing and what's going on around the world. We'll try to move patiently but do it in a thoughtful way."Any rate hikes by the Fed this year are viewed as bearish for gold, which struggles to compete with high-yield bearing assets in rising rate environments.

Sunday, 3 April 2016

Forex - Aussie weaker on flat retail sales figures


Category: Forex


The Aussie fell in Asia on Monday as retail sales and other data disappointed, while the euro shrugged off friction between the Greek government and the IMF.AUD/USD traded at 0.7643, down 0.49%, while USD/JPY changed hands at 111.55, down 0.14%. EUR/USD traded at 1.1399, up 0.09%.In Australia the MI inflation gauge for March was flat after a 0.2% month-on-month fall in February.Also in Australia building approvals for February jumped 3.1%, compared with a 2.0% gain seen month-on-month.As well private house approvals dipped 1.2% in February, compared with a revised downward fall of 6.4% in January and retail sales were flat compared to a 0.4% month-on-month gain seen in February.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.02% at 94.56.In the week ahead, investors will be focusing on Wednesday’s minutes of the Fed’s March meeting for fresh insights on how officials view the economic outlook.The U.S. is also to release economic reports on trade, manufacturing and service sector activity. A central bank meeting in Australia will also be in focus.On Monday, markets in Hong Kong and Shanghai will be closed for holidays.


The euro zone is to report on the unemployment rate and the U.K. is to release survey data on construction sector activity. The U.S. is to publish data on factory orders.Last week, the dollar ended the week close to five-month lows against a basket of the other major currencies on Friday as investors bet that a stronger-than-expected U.S. jobs report would not prompt the Federal Reserve to raise interest rates more quickly.The Labor Department reported that the U.S. economy added 215,000 jobs last month, ahead of economists’ expectations for jobs growth of 205,000.The unemployment rate ticked up to 5% from an eight-year low of 4.9% as more people entered the labor market. Average hourly earnings rose by seven cents last month after falling two cents in February.A separate report showed that U.S. manufacturing activity expanded in March for the first time in six months as new orders rose.The Institute for Supply Management said its manufacturing index rose to 51.8 from 49.5 in February.But the upbeat data did little to alter expectations that the Fed will remain cautious about hiking interest rates this year.Earlier in the week Fed Chair Janet Yellen said global risks to the U.S. economy, including low oil prices and uncertainty over China justified taking a cautious approach to tightening monetary policy. Lower interest rates make the dollar less attractive to yield seeking investors.