dpa-AFX NEWSTICKER (product sample)

28.02.2017

RIT Capital Partners FY16 Profit Climbs, Lifts Dividend

LONDON (dpa-AFX) - RIT Capital Partners plc. (RCP.L) reported Tuesday that its fiscal 2016 profit before tax climbed to 301.0 million pounds from 188.0 million pounds last year.Earnings per ordinary share were 195.0 pence, compared to 121.4 pence last year.Income for the year was 30.3 million pounds from 29.7 million pounds a year ago. Net asset value per share during 2016 increased to 1,730 pence from 1,573 pence last year, representing a return of 12.1%. Further, the company said its Board intends to pay a dividend of 32 pence per share in 2017, comprising 16 pence per share in April and 16 pence per share in October. This represents an increase of 3.2% over the previous year.Copyright RTT News/dpa-AFX
28.02.2017

Derwent London FY Profit Falls; Recommends Special Dividend

BELLEVUE (dpa-AFX) - Derwent London Plc. (DLN.L) reported that its IFRS profit before tax for fiscal year 2016 was 54.5 million, down from 779.5 million pounds in 2015. Profit attributable to equity shareholders for the year fell to 58.7 million pounds or 52.59 pence per share from 766.2 million pounds or 668.73 pence per share in the previous year. European Public Real Estate Association or EPRA NAV per share on a diluted basis was up by 16 pence to 3,551p from 3,535 pence in 2015.EPRA earnings increased more strongly with a 8.9% rise to 85.7 million pounds and EPRA earnings per share increased by 7.9% to 76.99 pence.Gross property and other income declined to 193.7 million pounds from 204.9 million pounds last year. The Board has recommended a 25.0% increase in the proposed final dividend to 38.50p per share for payment to shareholders on the register on 5 May 2017 to be paid on 9 June 2017. 32.70p will be paid as a PID and the balance of 5.80p as a conventional dividend. The interim and final dividend for the year will be 52.36p per share, an increase of 20.6% over last year.  There will not be a scrip dividend alternative. It is also intended that the 2017 interim dividend will be increased by 25%. The Directors of Derwent London are recommending a special dividend of 52p per share to be paid on 9 June 2017 to shareholders on the register as at 5 May 2017.In addition, Derwent London has entered an agreement to sell the freehold interest in 132-142 Hampstead Road NW1 for £130 millionb before costs.  The purchaser was the Secretary of State for Transport.  The property provides 219,700 sq ft and is let to University College London for £1.7 million pa.  The property was acquired in 2007, and planning for the development of 233,000 sq ft of offices and 38 residential units was achieved in 2010.The offices were designed as Derwent London's first White Collar Factory development, the same concept that is now being successfully delivered at Old Street Yard EC1, and had attracted considerable pre-letting interest.  However, these plans were unable to be carried forward due to the decision to build HS2 announced in 2012. The December 2016 book value, which did not reflect the full benefit of the very valuable planning consent, was £115 million.Separately, Derwent London has regeared a number of leases with the Expedia group and Cancer Research UK at Angel Building, Islington EC1.  Expedia will occupy 231,400 sq ft or 93% of the office element from 2020, and has extended its tenure from 2021 to 2030.  There are minimum rental uplifts on various leases at the next review either in 2020 or 2021. Expedia will also have the right of first refusal on the remaining 17,100 sq ft of office space when the lease expires in 2021.Expedia currently occupies 93,400 sq ft and has agreed to take on two other leases.  The majority of this additional space becomes available when Cancer Research UK moves to a new headquarters, which is unlikely to occur before 2019.  Following this change, Expedia will be the principal occupier of the building through 2030.Copyright RTT News/dpa-AFX
28.02.2017

Nedbank Group FY16 Headline Earnings Rises

LONDON (dpa-AFX) - Nedbank Group Limited, the majority-owned South African banking subsidiary of Old Mutual plc (ODMTY.PK, OML.L), reported growth in its headline earnings for fiscal 2016.For fiscal 2016, Nedbank's headline earnings grew 5.9 percent from last year to 11.465 billion South African Rand. Excluding the impact of Ecobank Transnational Inc. (ETI), the company's managed operations grew headline earnings by 16.2 percent to 11.84 billion Rand.Diluted headline earnings per share increased 4.8 percent to 2 350 cents. Headline earnings per share grew 5.1 percent to 2 400 cents. Excluding ETI, headline earnings per share was up 15.1 percent.Nedbank's net interest income increased 10.6 percent to 26.426 billion Rand from 23.885 billion Rand last year, driven by growth in average interest-earning banking assets of 7.0 percent and net interest margin expansion to 3.41 percent.Nedbank said it has declared a final dividend of 630 cents per ordinary share, payable to shareholders for the year ended December 31, 2016.Copyright RTT News/dpa-AFX
28.02.2017

Ricardo H1 Underlying Profit Before Tax Rises

LONDON (dpa-AFX) - Ricardo plc (RCDO.L) reported profit before tax of 12.1 million pounds for the six months ended 31 December 2016 compared to 13.2 million pounds, in the prior period. The Group said this decrease is primarily as a result of non-recurring income in the prior period. Underlying profit before tax, which excludes specific adjusting items, increased by 5% to 15.1 million pounds from 14.4 million pounds, previous year. Profit for the period was 9.4 million pounds or 17.5 pence per share compared to 10.1 million pounds or 19.0 pence, prior year. Underlying earnings per share was 22.1 pence compared to 20.5 pence. First-half total Group revenues increased to 167.0 million pounds, representing a 6% increase on the prior period.The Board of Ricardo has declared an increased interim dividend of 5.42 pence per share. The dividend will be paid on 6 April 2017 to shareholders on the register at the close of business on 10 March 2017.Copyright RTT News/dpa-AFX
28.02.2017

Go-Ahead H1 Profit Down, Revenues Rise; Cuts FY Forecast

LONDON (dpa-AFX) - Go-Ahead Group Plc. (GOG.L), a provider of passenger transport services, reported Tuesday that its first-half profit before tax declined 11.7 percent to 67.0 million pounds from 75.9 million pounds a year ago.Basic earnings per share fell 6.6 percent to 107.6 million pounds from 115.2 million pounds last year.Revenue increased 3 percent to 1.72 billion pounds from 1.67 billion pounds a year ago.The company said its half year results were in line with management expectations. Further, the company said its Board proposed a 6.5% increase in the interim dividend to 30.17p. This is payable on 21 April 2017 to shareholders registered at the close of business on 31 March 2017. Looking ahead, the company said its full-year expectations have been lowered in both bus and rail due to challenges in GTR and a slowdown in passenger numbers in regional bus.The company said its expectations for full year regional bus division profitability have lowered as a result of the slowdown in passenger volumes across the business, most notably in the north east and Oxford. Performance in London bus business is in line with expectations for the full year although securing profitable growth in this market, as always, remains challenging. In rail, the long-running industrial relations issues in GTR have introduced additional costs and delays to expected efficiencies which will result in lower than anticipated profits in the full year.Copyright RTT News/dpa-AFX
28.02.2017

Greggs FY16 Profit Rises; Company-managed Shop LFL Sales Up 4.2%

LONDON (dpa-AFX) - Greggs plc (GRG.L) reported that its fiscal 2016 pre-tax profit (including exceptional items) grew by 2.9 percent to 75.1 million pounds from last year. Profit for the financial year attributable to equity holders of the Parent was 57.99 million pounds or 56.7 pence per share compared to 57.60 million pounds or 55.8 pence. Pre-tax profit before exceptional items was 80.3 million pounds compared to 73.0 million pounds, a year ago. Earnings per share before exceptional items were 60.8 pence compared to 55.8 pence, prior year, an increase of 9.0 percent. Fiscal 2016 total sales was 894.2 million pounds, up 7.0 percent from prior year. Within this company-managed shop like-for-like sales grew by 4.2 percent.The Board of Greggs intends to recommend at the Annual General Meeting a final dividend of 21.5 pence per share, giving a total ordinary dividend for the year of 31.0 pence, an increase of 8.4%.Greggs plc said the year 2017 has started in line with its expectations, with company-managed shop like-for-like sales in the eight weeks to 25 February 2017 up by 2.0 percent, and total sales up 5.8 percent. The year to date position has been impacted by the timing of the New Year public holiday, which fell outside of the comparative period in 2016. Excluding the effect of this, company-managed shop like-for-like sales have grown by 2.9 percent in weeks two to eight of the current year.Copyright RTT News/dpa-AFX
28.02.2017

Laird Posts FY Pre-Tax Loss

LONDON (dpa-AFX) - Technology company Laird PLC (LRD.L, LARD.L) Tuesday reported pre-tax loss of 122.3 million pounds for the full year, impacted by a 155.5 million pounds non-cash impairment of goodwill within the Wireless Systems Division. This compares to last year's pre-tax profit of 15.4 million pounds. Underlying profit before tax, however, in the year was 51.1 million pounds, lower than the year-ago's 73.1 million pounds.Loss for the year attributable to equity shareholders of the parent company totaled 111.7 million pounds or 41.3 pence per share, compared to a loss of 8.3 million pounds or 3.1 pence per share last year. Group revenue for the year rose 27 percent to 801.6 million pounds, but it was marginally down 0.4 percent on an organic constant currency basis.In addition, the Group said no final dividend will be paid in respect of 2016, as previously indicated.Copyright RTT News/dpa-AFX
28.02.2017

British Land Confirms Talks On Sale Of Leadenhall Building

LONDON (dpa-AFX) - In response to recent press speculation, British Land Co plc (BRLAF, BTLCY, BLND.L) confirmed that the company and its joint venture partner, Oxford Properties, are in advanced talks regarding the possible sale of their interests in the Leadenhall Building. British Land and Oxford Properties currently own the Leadenhall Building in a 50/50 joint venture.However, the company added that it was not certain whether these discussions will lead to a sale of the building. The company will make further announcements as appropriate.Copyright RTT News/dpa-AFX
28.02.2017

St. James's Place FY Profit Down; Andrew Croft To Succeed David As CEO

LONDON (dpa-AFX) - St. James's Place plc. (STJ.L), a wealth management group, reported that its IFRS profit after tax for the year ended 31 December 2016 declined to 111.7 million pounds or 21.3 pence per share from 202.0 million pounds or 38.5 pence per share in the prior year. The principle reason for the reduction in the current year was that the prior year result was enhanced by recognition of 74.8 million pounds of deferred tax asset on historic capital losses. The 2016 result is also impacted by the continuing unwind of intangible DAC/DIR/PVIF balances.The Profit before shareholder tax, which takes account of the amortisation of intangible assets and liabilities, was 140.6 million pounds down from 151.3 million pounds last year. Profit before tax was 486.3 million pounds, up from 174.1 million pounds last year. The Underlying profit before shareholder tax declined to 163.5 million pounds from the prior year's 163.7 million pounds reflecting an increase in the income from funds under management, offset by the higher expenses, the cost of investment and the other items noted at the start of this statement.The Operating cash result for the year was 226.0 million pounds, growth of 16%, reflecting the increased annual management fees from the higher funds under management offset by higher expenses.Net income for the year surged to 11.35 billion pounds from 3.11 billion pounds in the prior year. The Board has proposed a final dividend of 20.67 pence per share, up 20%, which brings the full year dividend to 33.0 pence per share, up 18%. The final dividend for 2016, subject to approval of shareholders at AGM, will be paid on 12 May to shareholders on the register at the close of business on 7 April. As usual, a Dividend Reinvestment Plan continues to be available for shareholders.'Looking forward, we entered 2017 with a stronger adviser team, a more diversified investment proposition and a greater need for advice clients can rely on. We remain committed to relationship based advice and believe we are better placed than ever to serve our clients well and for the opportunities that lie ahead,' the company said.Separately, St. James's Place plc announced that David Bellamy has decided to step down from the Board at the end of 2017 after 26 years as an executive, the last 11 of which he has served as Chief Executive Officer. Andrew Croft will succeed David as Chief Executive Officer and Craig Gentle, currently Chief Risk Officer, will join the Board as Chief Financial Officer. David will remain with the Group in an advisory capacity and will take on the role of non-executive Chairman of new International operations. Andrew joined the Company in 1993 and has been Chief Financial Officer since 2004. Having trained as an Accountant with Deloitte Haskins and Sells (now part of PricewaterhouseCoopers) he then worked in the financial services sector. Since joining St. James's Place he has held a number of roles within the Finance department, assuming the role of Finance Director in 2002. He is a Trustee of the St. James's Place Foundation. Craig Gentle joined St. James's Place in 2016 as Chief Risk Officer. A qualified Chartered Accountant (ACA), Craig was previously a Senior Audit Partner at PwC in London. He has more than 20 years of experience working with listed groups and other large financial services businesses in areas including statutory audit, transaction support and conduct risk.Copyright RTT News/dpa-AFX
28.02.2017

Fresnillo FY16 Pre-tax Profit Surges, Adjusted Revenue Up 29.2%

MEXICO CITY (dpa-AFX) - Fresnillo PLC (FRES.L) reported profit before income tax of $718.2 million for the full year ended 31 December 2016, up sharply from $212.4 million last year.Profit for the year surged to $425.0 million from $69.4 million a year ago. Earnings per share were $0.579, up from $0.096 last year.Profit for the year, excluding post-tax Silverstream effects, was $331.5 million, compared to $50.0 million a year ago. Earnings per share, excluding post-tax Silverstream effects, were $0.453, compared to $0.069 last year.The Group reported 2016 adjusted revenue of $2.05 billion, up 29.2 percent from $1.58 billion in the prior year, reflecting increased volumes and higher metal prices.The Board of Fresnillo has declared an interim dividend of 8.6 cents per share and a final dividend of 21.5 cents per share, totalling about $158.4 million.For fiscal 2017, the company expects further increases in production with silver reaching the 58 million to 61 million ounces range (including Silverstream), and gold production between 870 thousand and 900 thousand ounces.Copyright RTT News/dpa-AFX
28.02.2017

Asian Shares Mixed As Investors Seek Clarity On Trump Policy

CANBERA (dpa-AFX) - Asian stocks ended mixed on Tuesday and the dollar held steady as investors awaited U.S. President Donald Trump's address before a joint session of Congress tonight, where he is expected to lay out plans for pro-business policies including tax reform, health care and infrastructure spending. Trump's speech is scheduled to start at 9 p.m. ET.Chinese shares rose in thin trading after Trump said the United States attaches great importance to cooperative relations with China. The benchmark Shanghai Composite gained 13.07 points or 0.40 percent to finish at 3,241.73, while Hong Kong's Hang Seng index was down 184 points or 0.77 percent at 23,740 in late trade.Japanese shares inched higher despite a stronger yen and comments from BOJ Governor Haruhiko Kuroda that Japan was still distant from achieving its 2 percent inflation target. The day's economic reports also painted a mixed picture, with Japan's industrial output declining for the first time in six months in January, while housing starts expanded at a faster pace and retail sales increased for a third straight month. The Nikkei average rose 11.52 points or 0.06 percent to 19,118.99 while the broader Topix index finished 0.09 percent higher at 1,535.32. Exporters turned in a mixed performance, with Panasonic inching up 0.2 percent and Sony rising 0.7 percent, while Honda and Toyota ended in the red. Energy stocks such as JX Holdings and Japan Petroleum climbed around 2 percent each.Australian shares ended lower for a fourth day after data on new home sales and private sector credit disappointed investors. There was some respite as official data showed that Australia boasted the smallest current account deficit in 15 years last quarter.The benchmark S&P/ASX 200 index slid 12 points or 0.21 percent to 5,712.20, while the broader All Ordinaries index finished down 12.80 points or 0.22 percent at 5,761, dragged down by miners with Rio Tinto and Fortescue Metals Group losing 0.8 percent and half a percent, respectively. Gold miners Newcrest, Evolution Mining, Norther Star and Regis Resources lost 4-6 percent after gold prices retreated from a 3-1/2-month high. Financials ended broadly higher, with banks ANZ, Commonwealth and NAB inching up marginally while wealth manager AMP advanced 2.7 percent. Oil & gas producer Santos rose 1.3 percent as oil prices rose for a second day. WorleyParsons shares soared as much as 32 percent after a Dubai-based consulting group said it had made an indicative bid for the engineering services provider. Bellamy Australia jumped over 4 percent on news of a board overhaul at the infant formula maker. Spotless Group shares plunged 13.7 percent as the catering and cleaning services firm slashed its dividend and forecast a lower full-year profit.South Korea's Kospi average rose 6.12 points or 0.29 percent to 2,091.64. Lotte Confectionery shares tumbled 2.7 percent after a subsidiary of retail giant Lotte Group approved a land swap with the military to deploy a controversial U.S. missile defense system.New Zealand shares rose sharply even as trade balance and business confidence figures painted a mixed picture of the economy. The benchmark S&P/NZX 50 index rallied 88.28 points or 1.25 percent to 7,167.46, with Metlifecare, Chorus and Ryman Healthcare climbing over 3 percent each. New Zealand Refining tumbled 2.9 percent after its annual profit slumped 69 percent from a year earlier.The Taiwanese market was closed for the Peace Memorial Day holiday. Malaysia's KLSE Composite index was little changed after a government report showed the country's producer price inflation accelerated markedly at the start of the year. Singapore's Straits Times index was declining 0.4 percent after official data showed the country's producer price index increased for the second straight month in January. Indian shares were marginally lower while Indonesia's Jakarta Composite index was moving up 0.2 percent. Overnight, U.S. stocks eked out modest gains after President Trump proposed a huge $54 billion surge in U.S. military spending and signed another executive order to curb regulations and help businesses. Economic reports on durable goods orders and regional manufacturing beat expectations while a gauge of pending home sales disappointed investors. The Dow inched up 0.1 percent to close at a record high for a 12th straight session and the S&P 500 also rose 0.1 percent to hit another record closing high, while the Nasdaq Composite gained 0.3 percent.Copyright RTT News/dpa-AFX
28.02.2017

European Shares Seen Higher As Investors Await Trump's Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open higher on Tuesday as investors gear up for fiscal stimulus and infrastructure spending announcements from U.S. President Donald Trump during his speech before Congress later today. The dollar held steady after hawkish comments from Dallas Fed President Robert Kaplan bolstered U.S. Treasury yields. The Federal Reserve should raise interest rates 'sooner rather than later' to avoid falling behind the curve on inflation, Kaplan said at an event with university students.Copper edged up and oil futures ticked up for a second day on reports of high compliance to the OPEC production cut agreement, while gold traded with negative bias.Asian stocks are trading mostly higher, even as gains remain capped ahead of Trump's speech and the annual meetings of China's top legislature and top political advisory body.In economic releases, the confidence of British consumers ebbed in February from the previous month, the latest survey from GfK revealed with an index score of -6. That was in line with expectations and down from -5 in January. 'Any momentum behind the post-Brexit, debt-fueled, consumer spending boom now appears to be softening,' said Joe Staton, head of market dynamics at GfK.Flash consumer prices, household spending and revised quarterly national accounts figures from France as well as U.S. reports on fourth quarter GDP, home prices, consumer confidence and Chicago-area business activity are slated for release later in the day. In corporate news, German construction major Hochtief reported robust financial results for fiscal year 2016 and said it expects underlying profit to grow by as much as a quarter this year.French technology firm Thales raised its dividend after reporting a rise in 2016 operating profit.Overnight, U.S. stocks eked out modest gains after Trump proposed a huge $54 billion surge in U.S. military spending and signed another executive order to curb regulations and help businesses. On the economic front, data on durable goods orders and regional manufacturing beat expectations while a gauge of pending home sales disappointed investors. The Dow inched up 0.1 percent to close at a record high for a 12th straight session and the S&P 500 also rose 0.1 percent to hit another record closing high, while the Nasdaq Composite gained 0.3 percent.The pan-European Stoxx Europe 600 index pared early losses to close 0.1 percent lower on Monday as the planned merger between the London Stock Exchange and Deutsche Boerse looked to be heading for collapse and the British government announced changes to a key insurance sector discount rate.Speculation over another Scottish independence referendum also kept investors nervous. France's CAC 40 index ended largely unchanged with a negative bias, while the U.K.'s FTSE 100 edged up 0.1 percent and the German DAX rose 0.2 percent.Copyright RTT News/dpa-AFX
28.02.2017

Asian Markets Mostly Higher, Await Trump Speech

CANBERA (dpa-AFX) - Asian stock markets are mostly higher on Tuesday, tracking the modest gains overnight on Wall Street. Investors are awaiting a speech by U.S. President Donald Trump to a joint session of Congress later in the day and will look for details on Trump's promises of tax reform, deregulation and infrastructure spending.The Australian market is rising after three days of losses, following the modest gains overnight on Wall Street. Banks and oil stocks are among the leading gainers.In late-morning trades, the benchmark S&P/ASX 200 Index is adding 20.70 points or 0.36 percent to 5,744.90, off a high of 5,752.50. The broader All Ordinaries Index is up 17.30 points or 0.30 percent to 5,791.10.The big four banks are advancing. ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank are higher in a range of 0.5 percent to 1.2 percent.Oil stocks are also higher as crude oil prices edged higher overnight. Oil Search is adding 0.3 percent, Woodside Petroleum is up 0.7 percent and Santos is rising more than 2 percent.In the mining space, BHP Billiton and Fortescue Metals are advancing almost 1 percent each, while Rio Tinto is declining 0.5 percent.Fortescue Metals has denied media reports that it made an offer of more than A$1 billion for Wesfarmers' Curragh coal mine in Queensland.Gold miners are weak even as gold prices edged higher overnight. Newcrest Mining is losing almost 4 percent and Evolution Mining is down more than 5 percent.Spotless Group reported a loss for the first half on lower revenues as well as writedowns and forecast a lower profit for the full year. Shares of the cleaning and catering business are falling almost 11 percent.Bellamy Australia's chairman Rob Wooley has resigned from the board of the infant formula maker ahead of an extraordinary general meeting that could spark a board overhaul. The company's shares are in a trading halt.Harvey Norman's shares are advancing more than 1 percent after the retailer reported a 39 percent increase in first-half profit, saying it is the best first-half results in its 30-year history.Surfstitch Group lowered its full-year earnings outlook after reporting a loss for the half year that narrowed from the prior year. However, the online clothing retailer's shares are gaining almost 3 percent.In economic news, the Australian Bureau of Statistics said that Australia had a seasonally adjusted current account deficit of A$3.853 billion in the fourth quarter of 2016. That beat forecasts for a deficit of A$4.0 billion following the A$10.2 billion shortfall in the three months prior.The Reserve Bank of Australia said that private sector credit in Australia was up 0.2 percent on month in January. That was shy of expectations for an increase of 0.5 percent following the 0.7 percent increase in December.The Housing Industry Association said that new home sales in Australia were down 2.2 percent on month in January. That follows the 0.2 percent increase in December.In the currency market, the Australian dollar is lower against the U.S. dollar on Tuesday. In early trades, the local unit was trading at US$0.7675, down from US$0.7692 on Monday.The Japanese market is advancing, with the positive cues from Wall Street and a weaker yen lifting investor sentiment. Investors shrugged off data showing that Japan's industrial output in January fell for the first time in six months.In late-morning trades, the benchmark Nikkei 225 Index is adding 137.71 points or 0.72 percent to 19,245.18, off a high of 19,267.99 earlier.Among the other major exporters, Panasonic and Sony are adding more than 1 percent each, while Canon is higher by 0.4 percent. Toshiba is losing 2 percent, while SoftBank is up 0.4 percent.Automaker Toyota is adding almost 1 percent and Honda is rising more than 1 percent. In the banking sector, Mitsubishi UFJ Financial is up 0.4 percent and Sumitomo Mitsui Financial is rising 0.2 percent.In the oil space, Inpex is rising more than 2 percent and JX Holdings is gaining more than 3 percent.India's Tata Group has agreed to pay Japan's mobile carrier NTT Docomo about $1.17 billion in connection with end of an alliance in the Indian market. NTT Docomo's shares are edging down less than 0.1 percent.Takata Corp. pleaded guilty to one count of wire fraud and agreed to pay a total of $1 billion in criminal penalties stemming from the company's conduct in relation to sales of defective airbag inflators. Shares of the airbag maker are down 0.2 percent.Among the other major gainers, IHI Corp. is rising 5 percent, Meidensha Corp. is gaining 4 percent and Unitika is higher by more than 3 percent.On the flip side, Nissan Chemical Industries is declining almost 2 percent, TDK Corp. is down 1.7 percent and Asahi Group is lower by almost 1 percent.On the economic front, the Ministry of Economy, Trade and Industry said that industrial output in Japan fell 0.8 percent on month in January, on Tuesday. That missed forecasts for an increase of 0.4 percent following the 0.7 percent gain in December.The METI also said that retail sales in Japan were up a seasonally adjusted 0.5 percent on month in January. That beat expectations for an increase of 0.3 percent after dropping an upwardly revised 1.6 percent in December.Japan also will see January results for housing starts and construction orders, plus February figures for small business confidence today.In the currency market, the U.S. dollar traded in the upper 112 yen-range on Tuesday.Elsewhere in Asia, Shanghai, South Korea, New Zealand and Indonesia are modestly higher. Singapore, Hong Kong and Malaysia are lower. The markets in Taiwan remain closed on Tuesday for the Peace Memorial Day holiday.On Wall Street, stocks closed modestly higher on Monday after seeing initial weakness, amid optimism about pro-business policies under President Donald Trump, who is due to speak to a joint session of Congress on Tuesday. The Dow crept up 15.68 points or 0.1 percent to 20,837.44, the Nasdaq rose 16.59 points or 0.3 percent to 5,861.90 and the S&P 500 edged up 2.39 points or 0.1 percent to 2,369.73.European stocks turned in a lackluster performance on Monday. While the French CAC 40 Index closed nearly flat, the U.K.'s FTSE 100 Index inched up by 0.1 percent and the German DAX Index edged up by 0.2 percent.Crude oil futures were slightly higher Monday, holding near yearly highs amid a tug of war on oil supplies between OPEC and the U.S. WTI crude oil rose $0.06 to $54.05 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
28.02.2017

Japanese Market Advances

TOKYO (dpa-AFX) - The Japanese market is advancing on Tuesday, with the positive cues from Wall Street and a weaker yen lifting investor sentiment. Investors shrugged off data showing that Japan's industrial output in January fell for the first time in six months.In late-morning trades, the benchmark Nikkei 225 Index is adding 137.71 points or 0.72 percent to 19,245.18, off a high of 19,267.99 earlier.Among the other major exporters, Panasonic and Sony are adding more than 1 percent each, while Canon is higher by 0.4 percent. Toshiba is losing 2 percent, while SoftBank is up 0.4 percent.Automaker Toyota is adding almost 1 percent and Honda is rising more than 1 percent. In the banking sector, Mitsubishi UFJ Financial is up 0.4 percent and Sumitomo Mitsui Financial is rising 0.2 percent.In the oil space, Inpex is rising more than 2 percent and JX Holdings is gaining more than 3 percent.India's Tata Group has agreed to pay Japan's mobile carrier NTT Docomo about $1.17 billion in connection with end of an alliance in the Indian market. NTT Docomo's shares are edging down less than 0.1 percent.Takata Corp. pleaded guilty to one count of wire fraud and agreed to pay a total of $1 billion in criminal penalties stemming from the company's conduct in relation to sales of defective airbag inflators. Shares of the airbag maker are down 0.2 percent.Among the other major gainers, IHI Corp. is rising 5 percent, Meidensha Corp. is gaining 4 percent and Unitika is higher by more than 3 percent.On the flip side, Nissan Chemical Industries is declining almost 2 percent, TDK Corp. is down 1.7 percent and Asahi Group is lower by almost 1 percent.On the economic front, the Ministry of Economy, Trade and Industry said that industrial output in Japan fell 0.8 percent on month in January, on Tuesday. That missed forecasts for an increase of 0.4 percent following the 0.7 percent gain in December.The METI also said that retail sales in Japan were up a seasonally adjusted 0.5 percent on month in January. That beat expectations for an increase of 0.3 percent after dropping an upwardly revised 1.6 percent in December.Japan also will see January results for housing starts and construction orders, plus February figures for small business confidence today.In the currency market, the U.S. dollar traded in the upper 112 yen-range on Tuesday.On Wall Street, stocks closed modestly higher on Monday after seeing initial weakness, amid optimism about pro-business policies under President Donald Trump, who is due to speak to a joint session of Congress on Tuesday. Traders will be looking for details on his promises of tax reform, deregulation and infrastructure spending.The Dow crept up 15.68 points or 0.1 percent to 20,837.44, the Nasdaq rose 16.59 points or 0.3 percent to 5,861.90 and the S&P 500 edged up 2.39 points or 0.1 percent to 2,369.73.European stocks turned in a lackluster performance on Monday. While the French CAC 40 Index closed nearly flat, the U.K.'s FTSE 100 Index inched up by 0.1 percent and the German DAX Index edged up by 0.2 percent.Crude oil futures were slightly higher Monday, holding near yearly highs amid a tug of war on oil supplies between OPEC and the U.S. WTI crude oil rose $0.06 to $54.05 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
28.02.2017

Renewed Support Tipped For China Stocks

BEIJING (dpa-AFX) - The China stock market has finished lower in two of three trading days since the end of the three-day winning streak in which it had advanced almost 60 points or 1.9 percent. The Shanghai Composite Index now rests just beneath the 3,230-point plateau, although the market may move back to the upside again on Tuesday.The global forecast for the Asian markets is cautiously optimistic thanks to mixed economic data and stagnant crude oil prices. The European markets were flat but little changed and the U.S. markets were slightly higher - and the Asian markets figure to follow the latter lead.The SCI finished modestly lower on Monday following losses from the financials and resource stocks, while the property sector was mixed.For the day, the index slipped 24.77 points or 0.76 percent to finish at 3,228.66 after trading between 3,224.09 and 3,251.65. The Shenzhen Composite Index slid 11.61 points or 0.58 percent to end at 1,988.77.Among the actives, Agricultural Bank of China shed 0.61 percent, while Bank of China lost 0.81 percent, Industrial and Commercial Bank of China dipped 0.21 percent, Vanke fell 0.97 percent, Gemdale added 0.25 percent, PetroChina dropped 0.61 percent, China Shenhua slipped 0.41 percent and Zijin Mining tumbled 1.11 percent.The lead from Wall Street suggests mild upside as stocks ticked slightly higher on Monday as the Dow and the S&P 500 again hit fresh record closing highs. The Dow crept up 15.68 points or 0.1 percent to 20,837.44, while the NASDAQ rose 16.59 points or 0.3 percent to 5,861.90 and the S&P added 2.39 points or 0.1 percent to 2,369.73.Profit taking contributed to early weakness on Wall Street following recent strength, but selling pressure remained relatively subdued. In economic news, the Commerce Department reported a rebound in durable goods orders in January. But the National Association of Realtors noted a steep drop in pending home sales in January.Crude oil futures were slightly higher Monday, holding near yearly highs amid a tug of war on oil supplies between OPEC and the U.S. WTI light sweet crude oil was up $0.06 at $54.05/barrel.Copyright RTT News/dpa-AFX
27.02.2017

The Swiss Stock Market Dipped Following Weak Performance By Roche

BRUSSELS (dpa-AFX) - The Swiss stock market ended the first session of the new trading week with a slight loss. The market got off to a positive start, but quickly began to pare its early gains. The market recovered some ground late in the afternoon thanks to some positive U.S. economic data and some statements from President Trump.President Trump commented Monday that he will focus on improving U.S. infrastructure and increase spending on defense. Trump also reiterated his intention to repeal and replace Obamacare. Trump is set to make his first address to a joint session of Congress on Tuesday and he is expected to give some clarity on his fiscal and tax policies.The Swiss Market Index decreased by 0.06 percent Monday and finished at 8,520.56. The Swiss Leader Index climbed 0.12 percent and the Swiss Performance Index added 0.05 percent.The luxury goods companies were among the weakest performing stocks Monday. Swatch dropped 1.5 percent and Richemont fell 0.7 percent. Aryzta also weakened by 0.5 percent and Swiss Re lost 0.4 percent.Index heavyweight Roche dropped 0.7 percent, while Nestlé surrendered 0.3 percent. Meanwhile, Novartis finished with a gain of 0.3 percent.UBS dipped 0.1 percent, while Credit Suisse climbed 0.7 percent. Dufry was among the top performing stocks of the session, with an increase of 2.0 percent. Sika also gained 1.5 percent, adding to Friday's gains following its full year report. LafargeHolcim climbed 1.4 percent, Adecco rose 0.7 percent and Geberit added 0.8 percent. Kuehne + Nagel finished higher by 0.4 percent. The logistics service provider will report results at the middle of the week. Sonova increased 1.9 percent and Galenica advanced 1.1 percent.Lonza finished higher by 0.6 percent. The company entered into a strategic partnership with Sanofi to establish a large-scale biologics production facility in Switzerland.Copyright RTT News/dpa-AFX
27.02.2017

European Markets Finished Mixed On M&A Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended the first session of the new trading week with mixed results. Markets got off to a positive start, but pared their early gains after the planned merger between the London Stock Exchange and Deutsche Bourse hit a roadblock.However, the markets began to recover some ground following the open of the U.S. markets. U.S. President Donald Trump is set to make his first address to a joint session of Congress on Tuesday night and he is expected to give some clarity on his fiscal and tax policies.Political concerns in Europe also gave investors pause at the start of the trading week. Brexit worries weighed as media reports suggested that U.K Prime Minister Theresa May's team is preparing for Scotland to potentially call for an independence referendum in March. However, there is some respite surrounding France's presidential election as two weekend polls showed that France's independent presidential candidate Emmanuel Macron got his biggest lead over Republican Francois Fillon and began narrowing the gap with National Front leader Marine Le Pen.The pan-European Stoxx Europe 600 index weakened by 0.10 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.16 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.21 percent.The DAX of Germany climbed 0.16 percent, but the CAC 40 of France fell 0.00 percent. The FTSE 100 of the U.K. gained 0.13 percent, but the SMI of Switzerland finished lower by 0.06 percent.In Frankfurt, Deutsche Bank gained 1.41 percent after reports that the lender has cut its bonus pool for 2016 by almost 80 percent.Stada rose 0.30 percent after the generic drug-maker said it is opening its books to potential acquirers.In Paris, Sanofi SA finished lower by 0.19 percent. The drug giant entered into a strategic partnership with Lonza Group AG to establish a large-scale biologics production facility in Switzerland.Oil major Total SA lost 1.04 percent after signing a pact for the sale of stakes and the transfer of operatorship in various mature assets in Gabon to Perenco.In London, London Stock Exchange Group dropped 1.12 percent. Over the weekend, the company said its proposed merger with Deutsche Boerse, which runs the main German stock market, is unlikely to be approved by the European Commission. The plans for a combination were in the works for more than a year. Deutsche Boerse fell 3.80 percent in Frankfurt.Disposable products supplier Bunzl gained 3.41 percent after reporting a rise in full-year pretax profit and raising dividend.Persimmon advanced 0.25 percent after rising in early day as the homebuilder reported a 23 percent rise in 2016 pretax profit and said it is in a 'good position' to deliver further growth in 2017.Associated British Foods slid 0.92 percent after the food to clothing retail conglomerate maintained its earnings guidance.Insurer Admiral slumped 2.46 percent and Direct Line plunged 7.16 percent after the government announced changes to a key discount rate used to calculate lump sum payouts.Intesa Sanpaolo SpA climbed 6.36 percent in Milan after abandoning the plan for proposed combination with Assicurazioni Generali SpA. The Italian insurer fell 2.84 percent.Eurozone economic confidence improved as expected in February, survey results from the European Commission showed Monday. The economic sentiment index rose marginally to 108.0 in February from 107.9 in January. The reading came in line with expectations.Eurozone monetary aggregate growth slowed slightly in January, while loans to households increased at a faster pace, the European Central Bank reported Monday. The monetary aggregate M3 grew 4.9 percent year-on-year in January, slightly slower than the 5 percent increase seen in December.Data showed that loans to the private sector logged an annual growth of 2.4 percent compared to 2.3 percent in December. At the same time, the annual growth in loans to households improved to 2.2 percent from 2 percent in December and growth in loans to non-financial corporations held steady at 2.3 percent in January.After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Monday showing a rebound in durable goods orders in the month of January.The report said durable goods orders surged up by 1.8 percent in January after falling by a revised 0.8 percent in December. Economists had expected orders to climb by 1.7 percent compared to the 0.4 percent drop originally reported for the previous month.Pending home sales in the U.S. unexpectedly plunged to their lowest level in a year in the month of January, according to a report released by the National Association of Realtors on Monday.NAR said its pending home sales index tumbled by 2.8 percent to 106.4 in January after climbing by 0.8 percent to a revised 109.5 in December.The steep drop by the index came as a surprise to economists, who had expected pending home sales to increase by 0.8 percent.Copyright RTT News/dpa-AFX
27.02.2017

Wall Street Reverts To Caution

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Trading in the U.S. index futures suggests that Wall Street stocks may open lower on Monday's session. The Durable Goods Orders data will be released today and the consensus is for a growth of 1.8 percent. President Donald Trump will discuss bilateral issues with a visiting top diplomat from China amid tensions. Asian shares closed in the red, while European share are trading mixed. As of 6:15 am ET, the Dow futures are slipping 3 points, the S&P 500 futures are shedding 0.25 points and the Nasdaq 100 futures are slipping 6 points.U.S. stocks closed modestly higher on Friday. The Dow crept up 11.44 points or 0.1 percent to 20,821.76, the Nasdaq rose 9.80 points or 0.2 percent to 5,845.31 and the S&P 500 edged up 3.53 points or 0.2 percent to 2,367.34.On the economic front, the Commerce Department's Durable Goods Orders for January will be released at 8.30 am ET. The economists are looking for consensus of 1.8 percent, while the orders declined 0.4 percent last month. The National Association of Realtors' Pending Home Sales Index for January will be published at 10.00 am ET. The forecasters are expecting the index to grow by 1.1 percent, down from 1.6 percent in the prior month. The Dallas Fed manufacturing survey results for February will be issued at 10.30 am ET. In the prior month, the production index was 11.9. Dallas Federal Reserve Bank President Robert Kaplan will participate in a moderated discussion at the University of Oklahoma Price College of Business in Norman, Okla., with audience and media Q&A at 11.00 am. In the corporate segment, UCP, Inc. (UCP) reported an increase in fourth quarter earnings to $7.2 million, or $0.89 per share from $3.2 million, or $0.40 per share a year ago. Revenue for the quarter rose 17.4 percent to $104.4 million, from $88.9 million last year.JinkoSolar Holding Co., Ltd. (JKS) announced fourth quarter earnings of RMB228.58 million, or RMB1.79 per share, down from RMB538.94 million, or RMB4.21 per share in the prior year. Revenue for the quarter fell 13.8 percent to RMB5.12 billion, compared to RMB5.94 billion last year.Asian stocks fell on Monday. China's Shanghai Composite index fell 24.77 points or 0.76 percent to 3,228.66 after the securities regulator vowed stricter regulations to clamp down on speculation and pledged to speed up approvals of initial public offerings.Hong Kong's Hang Seng index declined 40.65 points or 0.17 percent at 23,925.05.Japanese shares hit two-and-a-half week lows as the yen's strength hurt exporters and lower U.S. yields sent financials broadly lower. The Nikkei average shed 176.07 points or 0.91 percent to finish at 19,107.47, while the broader Topix index closed 1.04 percent lower at 1,534.Australian shares retreated as the earnings season draws to a close. The benchmark S&P/ASX 200 index dropped 14.80 points or 0.26 percent to 5,724.20, while the broader All Ordinaries index closed 13.10 points or 0.23 percent lower at 5,773.80.European shares are trading mixed. CAC 40 of France is declining 7.19 points or 0.15 percent. DAX of Germany is climbing 8.13 points or 0.07 percent. FTSE 100 of England is up 13.02 points or 0.18 percent, while Swiss Market index is slipping 3.41 points or 0.05 percent.Copyright RTT News/dpa-AFX
27.02.2017

European Stocks Mixed In Mid-day Trading

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks erased early gains to turn mostly lower in the mid-day session on Monday as a planned merger between the London Stock Exchange and Deutsche Bourse hit a roadblock.Brexit worries also weighed as media reports suggested that U.K Prime Minister Theresa May's team is preparing for Scotland to potentially call for an independence referendum in March. However, there is some respite surrounding France's presidential election as two weekend polls showed that France's independent presidential candidate Emmanuel Macron got his biggest lead over Republican Francois Fillon and began narrowing the gap with National Front leader Marine Le Pen. Meanwhile, U.S. President Donald Trump is set to make his first address to a joint session of Congress on Tuesday night and he is expected to give some clarity on his fiscal and tax policies. In economic releases, a number of U.S. economic data is scheduled to be released this week, including reports on durable goods orders, pending home sales, personal income and spending, and manufacturing and service sector activity. The Federal Reserve will release its Beige Book on Thursday, and the investors also await a handful of speeches by Federal Reserve officials. The benchmark DAX in Germany was up 5.06 points or 0.04 percent at 11,809.09 after Friday's loss of 1.20 percent. France's benchmark CAC 40 lost 6.76 points or 0.14 percent at 4,838.48 after closing 0.94 percent lower on Friday. The benchmark FTSE 100 in London gained 12.42 points or 0.17 percent at 7,256.12 after losing 0.38 percent on Friday. The pan-European Stoxx Europe 600 index was losing 0.29 percent at 368.95. In stock-specific action, Intesa Sanpaolo SpA climbed 4.62 percent after abandoning the plan for proposed combination with Assicurazioni Generali SpA. The Italian insurer fell 3.8 percent. Among other financials, BNP Paribas gained 0.9 percent, and Societe Generale gained more than 1 percent. Deutsche Bank AG gained 0.7 percent. The bank cut its bonus pool for 2016 by almost 80 percent, Frankfurter Allgemeine Sonntagszeitung reported.Sanofi SA traded slightly lower. The French drug giant entered into a strategic partnership with Lonza Group AG to establish a large-scale biologics production facility in Switzerland. Among the losers, London Stock Exchange Group plc and Deutsche Boerse AG traded 3 percent lower each. The company over the weekend said its proposed merger with Deutsche Boerse, which runs the main German stock market, is unlikely to be approved by the European Commission. The plans for a combination were in the works for more than a year. On Friday, the major European markets moved lower with a slew of downbeat corporate earnings reports as well as discussions around French and transatlantic politics weighing on sentiment.Copyright RTT News/dpa-AFX
27.02.2017

FTSE 100 Steady As Pound Hits Two-week Low

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. shares held steady on Monday, as the pound dropped against its major rivals in the wake of reports that U.K. Prime Minister Theresa May's team is preparing for Scotland to potentially call for an independence referendum in March.The focus was also on U.S. President Donald Trump's speech to Congress on Tuesday night, with investors looking for details on his promises of tax reform, deregulation and infrastructure spending.The benchmark FTSE 100 was up 13 points or 0.19 percent at 7,257 in late opening deals after closing 0.4 percent lower in the previous session.Rotork jumped 3 percent. The company noted an improvement in the trading environment following a sharp downturn in oil and gas markets in the second half of 2015.Disposable products supplier Bunzl rallied 2 percent on reporting a rise in full-year pretax profit and raising dividend.Persimmon shares turned lower after rising in early day as the housebuilder reported a 23 percent rise in 2016 pretax profit and said it is in a 'good position' to deliver further growth in 2017.Associated British Foods slid half a percent after the food to clothing retail conglomerate maintained its earnings guidance. Motor insurer Admiral slumped 4 percent and Direct Line plunged as much as 9 percent after the government announced changes to a key discount rate used to calculate lump sum payouts.In economic releases, demand in the services sector picked up a little in the three months to February, the quarterly service sector survey from the Confederation of British Industry showed. Optimism among consumer services firms rose for the first time since May 2016, while sentiment stabilized in business and professional services.Copyright RTT News/dpa-AFX
28.02.2017

Swiss KOF Indicator Climbs Strongly To Highest Level Since 2013

BRUSSELS (dpa-AFX) - A measure signaling the trends in the Swiss economy climbed strongly in February, after a slump in the previous month, signaling above-average growth for the near future, survey results from the KOF Swiss Economic Institute showed Tuesday.The KOF Economic Barometer climbed to 107.2 from 102.0 in January, revised up from 101.7. The latest score was markedly above its long-term average and as high as it had last stood in the end of 2013, the think tank said. The Swiss franc appreciation shock from early 2015 hence by now appears to have been largely overcome, the KOF added. The strongest positive contributions came from the manufacturing industry, followed with a clear gap by the hospitality industry. The financial sector, the exporting industry and the construction sector also gave positive signals, while the indicators relating to domestic private consumption were practically unchanged.Further, the KOF said the markedly improved sentiment in manufacturing was mainly due to the more positive assessment of incoming orders, followed by the production and employment outlook as well as by the profit situation.Copyright RTT News/dpa-AFX
28.02.2017

France's Q4 GDP Growth Doubles As Estimated

PARIS (dpa-AFX) - France's economy expanded at a faster pace, as estimated, in the fourth quarter driven by consumption and investment, the second estimate from the statistical office Insee showed Tuesday.Gross domestic product grew 0.4 percent sequentially, following a 0.2 percent expansion seen in the third quarter. The Insee confirmed the first estimate published on January 31.Household consumption advanced 0.6 percent and government spending by 0.4 percent.Growth in gross fixed capital formation doubled to 0.4 percent from 0.2 percent. Exports and imports climbed 1.3 percent and 1 percent, respectively. As a result, net trade contributed 0.1 point to growth.Conversely, changes in inventories contributed negatively by 0.1 points. On an average, GDP expanded 1.1 percent in 2016 after rising 1.2 percent in 2015. The annual figures also matched preliminary estimate.Copyright RTT News/dpa-AFX
28.02.2017

France's Inflation Slows Slightly In February

PARIS (dpa-AFX) - France's inflation slowed marginally in February, preliminary data from the statistical office Insee showed Tuesday.Consumer price inflation unexpectedly eased to 1.2 percent in February from 1.3 percent in January. Economists had forecast the rate to rise to 1.5 percent. The slight slowdown was the result of a sharp decline in manufactured products prices. Month-on-month, consumer prices edged up 0.1 percent, reversing a 0.2 percent fall in the prior month, but slower than the expected growth of 0.4 percent. This slight increase came from a rebound in services prices and an increase in tobacco prices.Inflation based on the Harmonized Index of Consumer Prices, slowed to 1.4 percent in February from 1.6 percent in January. Economists had forecast 1.7 percent inflation. On a monthly basis, the HICP gained 0.1 percent, in contrast to January's 0.3 percent fall and slower than the expected growth of 0.4 percent. The final data is due on March 15.Another report from Insee showed that producer prices in the French market grew 3.8 percent in January from prior year. Month-on-month, producer price inflation eased to 0.7 percent from 0.9 percent in December.Copyright RTT News/dpa-AFX
28.02.2017

French Household Consumption Rebound In January On Energy Spending

PARIS (dpa-AFX) - France's household consumption grew strongly in January, after a decline in the previous month, on the back on robust spending on energy, figures from INSEE showed Tuesday. Household consumption rose 0.6 percent month-on-month after a 1 percent slump in December, which was revised from 0.8 percent fall. The growth was in line with economists' expectations. Spending on energy jumped 5.1 percent following a 2.7 percent decline. The expenditure, especially for heating, was boosted by the coldest month of January since 2010, the agency said.Expenditure on food grew 0.6 percent, reversing a similar size fall in the previous month. The increase was the first in four months. Spending on manufactured goods fell, led by textiles and clothing as well as durables, especially automobiles. On a year-on-year basis, consumption grew 1.4 percent in January, slower than the 1.7 percent increase economists had expected.Copyright RTT News/dpa-AFX
28.02.2017

Hungary PPI Rises For Second Month

BRUSSELS (dpa-AFX) - Hungary's producer prices increased for the second consecutive month in January, figures from the Hungarian Central Statistical Office showed Tuesday.The producer price index climbed 2.2 percent year-over-year in January, faster than the 0.5 percent rise in December, which was the first increase since August 2015. Domestic market producer prices grew 4.3 percent annually in January and prices in the foreign market went up by 1.2 percent.Copyright RTT News/dpa-AFX
28.02.2017

Turkey's Trade Deficit Widens In January

ANKARA (dpa-AFX) - Turkey's trade deficit widened in January from the prior year, figures published by the Turkish Statistical Institute showed Tuesday. The trade deficit increased to $4.31 billion from $3.91 billion in the previous year. Exports logged an annual growth of 18.1 percent and imports climbed 15.9 percent in January. On a monthly basis, exports increased by seasonally and calendar adjusted 4.5 percent and imports gained 0.6 percent. Calendar adjusted exports and imports grew 17 percent and 9 percent, respectively compared with January. The main export market was Germany, which was followed by Iraq, the United Kingdom and the United Arab Emirates. At the same time, the top country for Turkey's imports was China.Copyright RTT News/dpa-AFX
28.02.2017

Finland Dec Trade Deficit Widens Less Than Estimated

HELSINKI (dpa-AFX) - Finland's foreign trade deficit increased less than initially estimated in December, latest figures from Finland Customs Office showed Tuesday.The trade deficit for December was revised down to EUR 509 million from EUR 530 million reported earlier. In the corresponding month last year, the shortfall was EUR 262 million.The value of exports dropped 3.0 percent year-over-year in December, slower than the 5.0 percent fall seen in the flash report published on January 31.At the same time, imports rose 2.0 percent annually in December, revised up from 1.0 percent.During the whole year 2016, total trade deficit of the country was EUR 2.9 billion versus a shortfall of EUR 0.6 billion in 2015.Copyright RTT News/dpa-AFX
28.02.2017

Estonia Q4 Economic Growth Improves

BRUSSELS (dpa-AFX) - Estonia's economic growth improved further in the three months ended December, figures from Statistics Estonia showed Tuesday.Gross domestic product advanced 2.7 percent year-over-year in the fourth quarter, faster than the 1.3 percent gain in the third quarter.The seasonally and working-day-adjusted GDP advanced by 2.8 percent compared with the corresponding period last year.In the fourth quarter, GDP growth mainly driven by a rise of value added in the information and communication activity due to an increase in software development services, the agency said.Real gross capital formation fell 5.5 percent, while gross fixed capital formation grew compared to the previous year. On quarterly basis, the seasonally and working-day-adjusted GDP rose 1.9 percent in three-month period to December. During the whole year 2016, the Estonian economy expanded 1.6 percent as compared to 2015.In an another report, the statistical office announced that producer prices climbed at a slower pace of 1.5 percent annually in January, following a 2.5 percent rise in December. Month-on-month, producer prices increased 1.0 percent.Copyright RTT News/dpa-AFX
28.02.2017

Japan's Housing Starts Growth Improves In January

TOKYO (dpa-AFX) - Japan's housing starts expanded at a faster pace in January, the Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.Housing starts growth accelerated unexpectedly to 12.8 percent in January from 3.9 percent in December. Economists had forecast the growth to slow to 3.3 percent. This was the seventh consecutive rise in housing starts. Annualized housing starts climbed to 1.0 million from 923,000 a month ago. The expected level was 916,000. Meanwhile, construction orders received by 50 big contractors grew only 1.1 percent after rising 7.1 percent in December.Copyright RTT News/dpa-AFX
28.02.2017

Japan Small Business Confidence Falls For Second Month

TOKYO (dpa-AFX) - Japan's small business confidence weakened for the second straight month in February, survey data from Shoko Chukin Bank showed Tuesday.The small business confidence indicator dropped to 47.7 in February from 48.3 in January. In December, the score was 48.3.The confidence indicator for manufacturing decreased by 0.3 points to 46.9 in February. Similarly, the non-manufacturing index fell to 48.4 from 49.1 in the previous month.The business sentiment for March is expected to rise to 50.2 in March. The index is forecast to climb to 50.7 in manufacturing and to 49.7 in non-manufacturing.Copyright RTT News/dpa-AFX
28.02.2017

Franc Little Changed After Swiss KOF Leading Indicator

BRUSSELS (dpa-AFX) - At 3:00 am ET Tuesday, Swiss KOF leading indicator for February was released.After the data, the Swiss franc changed little against its major rivals.As of 3:02 am ET, the franc was trading at 1.0666 against the euro, 1.2507 against the pound, 1.0071 against the greenback and 111.51 against the yen.Copyright RTT News/dpa-AFX
28.02.2017

Franc Mixed Ahead Of Swiss KOF Leading Indicator

BRUSSELS (dpa-AFX) - The KOF Swiss Economic Institute is due to release its leading indicator index for February at 3:00 am ET Tuesday. The index is expected to improve slightly to 102.1 in February, up from 101.7 in January.Ahead of the data, the franc traded miexd against its major rivals. While the franc rose against the euro and the pound, it fell against the U.S.dollar and the yen.The franc was worth 1.0665 against the euro, 1.2517 against the pound, 1.0069 against the greenback and 111.56 against the yen as of 2:55 am ET.Copyright RTT News/dpa-AFX
28.02.2017

Yen Rises As Japan Retail Sales Gain

CANBERA (dpa-AFX) - The Japanese yen strengthened against other major currencies in the Asian session on Tuesday, after data showed that retail sales in Japan rose more than expected in January.Data from the the Ministry of Economy, Trade and Industry showed that retail sales in Japan were up a seasonally adjusted 0.5 percent on month in January. That beat expectations for an increase of 0.3 percent after dropping an upwardly revised 1.6 percent in December. On a yearly basis, retail sales advanced 1.0 percent, in line with expectations and up from 0.6 percent in the previous month.At the same time, the METI also showed that industrial production in Japan was down 0.8 percent on month in January. That missed forecasts for an increase of 0.4 percent following the 0.7 percent gain in December.On a yearly basis, industrial production climbed 3.2 percent, also shy of expectations for 4.4 percent but unchanged from the previous month.Meanhwile, investors are awaiting a speech by U.S. President Donald Trump to a joint session of Congress later in the day, and will look for details on Trump's promises of tax reform, deregulation and infrastructure spending.In other economic news, data from the Ministry of Land, Infrastructure, Transport and Tourism showed that Japan's housing starts growth accelerated unexpectedly to 12.8 percent in January from 3.9 percent in December. Economists had forecast the growth to slow to 3.3 percent. This was the seventh consecutive rise in housing starts. Annualized housing starts climbed to 1.0 million from 923,000 a month ago. The expected level was 916,000. Meanwhile, construction orders received by 50 big contractors grew only 1.1 percent after rising 7.1 percent in December.Data from Shoko Chukin Bank showed Japan's small business confidence weakened for the second straight month in February. The small business confidence indicator dropped to 47.7 in February from 48.3 in January. In December, the score was 48.3.In the Asian trading, the yen rose to nearly a 3-week high of 85.21 against the Canadian dollar, from yesterday's closing value of 85.48. The yen may test resistance near the 84.00 region. Against the euro, the pound and the Swiss franc, the yen advanced to 118.79, 139.67 and 111.32 from yesterday's closing quotes of 119.31, 140.23 and 111.59, respectively. If the yen extends its uptrend, it is likely to find resistance around 117.00 against the euro, 134.00 against the pound and 110.00 against the franc. Against the U.S. and the New Zealand dollars, the yen climbed to 112.45 and 80.74 from yesterday's closing quotes of 112.69 and 81.04, respectively. The yen may test resistance near 110.00 against the greenback and 79.00 against the kiwi.Looking ahead, Swiss KOF leadig indicator for February is due to be released at 3:00 am ET.At 4:15 am ET, the Bank of England's chief operating officer Charlotte Hogg is expected to speak at Appointment Hearing in London.In the New York session, U.S. GDP for the fourth quarter, advance goods trade balance for January, wholesale inventories for January, U.S. S&P/Case-Shiller home price index for December and U.S. consumer confidence index for February and Canada industrial and raw materials price indexes January are slated for release. At 3:00 pm ET, Federal Reserve Bank of Philadelphia President Patrick Harker is expected to speak on the economic outlook before an event hosted by the Temple University College of Liberal Arts, in Philadelphia, U.S. At 3:30 pm ET, San Francisco Fed President John Williams will deliver a speech on the economic outlook before the Santa Cruz Chamber of Commerce, in Santa Cruz, U.S.Copyright RTT News/dpa-AFX
28.02.2017

Swiss Franc Rises Against Majors

BRUSSELS (dpa-AFX) - The Swiss franc strengthened against the other major currencies in the Asian session on Tuesday. The Swiss franc rose to 1.0070 against the U.S. dollar and 1.2527 against the pound, from an early 5-day low of 1.0101 and a 4-day low of 1.2560, respectively. Against the yen and the euro, the franc advanced to 111.73 and 1.0669 from yesterday's closing quotes of 111.59 and 1.0683, respectively.If the franc extends its uptrend, it is likely to find resistance around 0.99 against the greenback, 1.23 against the pound, 114.00 against the yen and 1.05 against the euro.Copyright RTT News/dpa-AFX
28.02.2017

Yen Rises Against Majors

OTTAWA (dpa-AFX) - The Japanese yen strengthened against the other major currencies in the Asian session on Tuesday. The yen rose to nearly a 3-week high of 85.21 against the Canadian dollar, from yesterday's closing value of 85.48. Against the euro, the pound and the Swiss franc, the yen advanced to 118.79, 139.67 and 111.32 from yesterday's closing quotes of 119.31, 140.23 and 111.59, respectively.Against the U.S. and the New Zealand dollars, the yen climbed to 112.45 and 80.74 from yesterday's closing quotes of 112.69 and 81.04, respectively.If the yen extends its uptrend, it is likely to find resistance around 84.00 against the loonie, 117.00 against the euro, 134.00 against the pound, 110.00 against the franc, 110.00 against the greenback and 79.00 against the kiwi.Copyright RTT News/dpa-AFX
28.02.2017

Australian Dollar Rises Against Majors

CANBERA (dpa-AFX) - The Australian dollar strengthened against the other major currencies in the Asian session on Tuesday. The Australian dollar rose to 5-day highs of 1.0139 against the Canadian dollar and 1.0698 against the NZ dollar, from yesterday's closing quotes of 1.0109 and 1.0668, respectively. Against the U.S. dollar, the yen and the euro, the aussie advanced to 0.7690, 86.61 and 1.3767 from yesterday's closing quotes of 0.7673, 86.47 and 1.3792, respectively.If the aussie extends its uptrend, it is likely to find resistance around 1.02 against the loonie, 1.08 against the kiwi, 0.78 against the greenback, 88.00 against the yen and 1.35 against the euro.Copyright RTT News/dpa-AFX
27.02.2017

Dollar Trading Mixed After Paring Losses

WASHINGTON (dpa-AFX) - The dollar is currently turning in a mixed performance against its major rivals Monday afternoon. The currency was down against its rivals earlier in the session, but has pared its losses in the afternoon. Traders are eagerly anticipating U.S. President Donald Trump's first address to a joint session of Congress on Tuesday night. Trump is expected to give some clarity on his fiscal and tax policies. The President made some remarks earlier today regarding the need to improve the country's infrastructure and increase defense spending. Trump also pledged to repeal and replace Obamacare.Investors are also looking forward to the release of a large number of economic reports this week, including GDP, consumer confidence and the ISM manufacturing and non-manufacturing reports. The Beige Book is also due to be released on Wednesday, while numerous Fed officials are slated to make comments this week, including Fed Chair Janet Yellen on Friday.After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Monday showing a rebound in durable goods orders in the month of January.The report said durable goods orders surged up by 1.8 percent in January after falling by a revised 0.8 percent in December. Economists had expected orders to climb by 1.7 percent compared to the 0.4 percent drop originally reported for the previous month.Pending home sales in the U.S. unexpectedly plunged to their lowest level in a year in the month of January, according to a report released by the National Association of Realtors on Monday.NAR said its pending home sales index tumbled by 2.8 percent to 106.4 in January after climbing by 0.8 percent to a revised 109.5 in December.The steep drop by the index came as a surprise to economists, who had expected pending home sales to increase by 0.8 percent.The dollar dropped to a 1-week low of $1.0630 against the Euro Monday, but has since rebounded to around $1.0590.Eurozone economic confidence improved as expected in February, survey results from the European Commission showed Monday. The economic sentiment index rose marginally to 108.0 in February from 107.9 in January. The reading came in line with expectations.Eurozone monetary aggregate growth slowed slightly in January, while loans to households increased at a faster pace, the European Central Bank reported Monday. The monetary aggregate M3 grew 4.9 percent year-on-year in January, slightly slower than the 5 percent increase seen in December.Data showed that loans to the private sector logged an annual growth of 2.4 percent compared to 2.3 percent in December. At the same time, the annual growth in loans to households improved to 2.2 percent from 2 percent in December and growth in loans to non-financial corporations held steady at 2.3 percent in January.Brexit worries resurfaced today as media reports suggested that U.K Prime Minister Theresa May's team is preparing for Scotland to potentially call for an independence referendum in March.The buck jumped against the pound sterling early Monday, before retreating to around $1.2478. The dollar has since bounced back to around $1.2450.The greenback has broken out to around Y12.735 against the Japanese Yen this afternoon, after slipping to a low of Y111.897.Copyright RTT News/dpa-AFX
27.02.2017

U.S. Dollar Little Changed After U.S. Durable Goods Orders

BRUSSELS (dpa-AFX) - The Commerce Department has released the durable goods orders report for January at 8:30 am ET Monday.Following the data, greenback changed little against its major counterparts.The greenback was trading at 1.0586 against the euro, 1.2414 against the pound, 1.0076 against the franc and 122.41 against the yen around 8:32 am ET.Copyright RTT News/dpa-AFX
27.02.2017

U.S. Dollar Mixed Ahead Of U.S. Durable Goods Orders

BRUSSELS (dpa-AFX) - The Commerce Department is scheduled to release its durable goods orders report for January at 8:30 am ET Monday. Economists expect a 1.9 percent month-over-month increase in durable goods orders. Excluding transportation, orders may remain unchanged at 0.5 percent.Ahead of the data, the greenback traded mixed against its major rivals. While the greenback held steady against the euro and the pound, it rose against the franc and the yen.The greenback was worth 1.0585 against the euro, 1.2413 against the pound, 1.0078 against the franc and 122.42 against the yen as of 8:25 am ET.Copyright RTT News/dpa-AFX
27.02.2017

Pound Extends Slide Amid Scottish Referendum Jittery

BRUSSELS (dpa-AFX) - The British pound continued to be weak against the other major currencies in the European session on Monday amid fears that the Scottish government may call another referendum.According to a report from the Times of London, U.K. Prime Minister Theresa May's team is preparing for Scotland to call a second independence referendum to coincide with the triggering of Article 50 in March.Investors also preferred to stay on the sidelines as they await more details on U.S. President Donald trump's fiscal stimulus plans. Trump is set to make his first address to a joint session of Congress on Tuesday.In the Asian trading today, the pound had fallen against its major rivals. In the European trading, the pound fell to a 1-week low of 0.8534 against the euro, nearly a 2-week low of 1.2384 against the U.S. dollar and a 6-day low of 1.2484 against the Swiss franc, from early highs of 0.8461, 1.2474 and 1.2557, respectively. If the pound extends its downtrend, it is likely to find support around 0.86 against the euro, 1.22 against the greenback and 1.23 against the franc. Against the yen, the pound slipped to 139.08 from an early high of 139.96. This may be compared to an early near 3-week low of 139.01. The pound is likely to find support around the 137.00 region. Looking ahead, at 7:30 am ET, Swiss National Bank Governing Board Member Fritz Zurbrugg will deliver a speech titled 'Cash - tried and tested, and with a future' at the World Banknote Summit, in Basel. In the New York session, U.S. durable goods orders and pending home sales data, both for January, are slated for release. At 11:00 am ET, Federal Reserve Bank of Dallas President Robert Kaplan is expected to speak at the University of Oklahoma's Distinguished Speaker Series.Copyright RTT News/dpa-AFX

dpa-AFX SENTIMENT INDICATOR


The dpa-AFX confidence index measures the ratio of high-to-other gradings of Dax-listed companies (based on a 30-day average). A value of 50 indicates that high and low gradings balance one another out. The graph shows the indicator in relation to the DAX chart.

dpa-AFX Analyser