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22.09.2017

CarMax Holding On To Strong Gain In Afternoon Trading

WASHINGTON (dpa-AFX) - Shares of CarMax (KMX) remain notably higher in afternoon trading on Friday. After reaching its best intraday level in over two-years, CarMax is currently up by 7.7 percent.The gain by CarMax comes after the used car dealership chain reported second quarter results that beat analyst estimates on both the top and bottom lines.Copyright RTT News/dpa-AFX
22.09.2017

Conagra Brands To Acquire Angie's Artisan Treats

WASHINGTON (dpa-AFX) - Conagra Brands, Inc. (CAG) announced a definitive agreement to acquire Angie's Artisan Treats, LLC, the maker of Angie's BOOMCHICKAPOP ready-to-eat popcorn, from TPG Growth. The Angie's BOOMCHICKAPOP brand features more than a dozen varieties of ready-to-eat popcorn and is available nationwide. It has a presence in the U.S., Canada, South Korea, Peru, the Caribbean and Mexico.Sean Connolly, CEO of Conagra Brands, said: 'Adding the Angie's BOOMCHICKAPOP brand to Conagra's portfolio is another important step in our ongoing plan to modernize our portfolio and accelerate growth. It will be a great complement to our growing snack business.'Copyright RTT News/dpa-AFX
22.09.2017

CRH Acquires 51% Interest In Anesthesia Practice In North Carolina

OTTAWA (dpa-AFX) - CRH Medical Corp. (CRH.TO, CRHM) announced it has acquired a 51% interest in a gastroenterology anesthesia practice in Raleigh, North Carolina which provides anesthesia services to three ambulatory surgical centers in North Carolina. The company said its fifth acquisition in the current year brings it closer to achieving anesthesia expansion objectives for 2017.CRH Medical also provided an outlook for the three months ending September 30, 2017. For the third-quarter, total revenue is expected to be approximately $22.7 million. Adjusted operating EBITDA attributable to shareholders is estimated to be approximately $7.3 million.Copyright RTT News/dpa-AFX
22.09.2017

CarMax Q2 Profit Rises; Comparable Store Used Unit Sales Up 5.3%

WASHINGTON (dpa-AFX) - CarMax, Inc. (KMX) reported that its second-quarter net earnings rose 11.7 percent to $181.42 million from $162.36 million in the year ago period, while earnings per share increased 16.7 percent to $0.98 from $0.84 per share last year. On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items. Second-quarter net sales and operating revenues increased 9.7% to $4.39 billion from $4.00 billion a year ago. Analysts expected revenue of $4.25 billion for the quarter. Total used vehicle unit sales grew 11.1% and comparable store used unit sales rose 5.3%. The company said its comparable store sales performance reflected a continued solid improvement in conversion resulting from strong execution by its store teams and its digital initiatives.Second-quarter wholesale vehicle unit sales rose 0.4% from a year ago.Copyright RTT News/dpa-AFX
22.09.2017

Bristol-Myers Reports Approval Of Opdivo For Recurrent Gastric Cancer In Japan

NEW YORK CITY (dpa-AFX) - Bristol-Myers Squibb Company (BMY) announced the Japanese Ministry of Health, Labor and Welfare has approved Opdivo (nivolumab) for the treatment of unresectable advanced or recurrent gastric cancer which has progressed after chemotherapy. Opdivo has now been approved for six indications in Japan.The approval is based on the results of ATTRACTION-2, a Phase 3 randomized, double-blind, placebo-controlled clinical trial conducted in Japan, South Korea and Taiwan.Copyright RTT News/dpa-AFX
22.09.2017

CVS Limiting Opioid Prescriptions

WOONSOCKET (dpa-AFX) - CVS Pharmacy will limit opioid prescriptions to a seven-day supply for certain conditions, as part of its efforts to fight the national opioid abuse epidemic.CVS Caremark plans to roll out opioid utilization control initiatives for all commercial, health plan, employer and Medicaid clients as of February 1, 2018 unless the client chooses to opt out.With the move, the retail pharmacy chain becomes the first national retail chain to restrict how many pain pills doctors can give patients.In a statement Thursday, the company, with around 9,700 retail locations, noted that the program will include limiting to seven days the supply of opioids dispensed for certain acute prescriptions for patients who are new to therapy. Also, the company plans to limit the daily dosage of opioids dispensed based on the strength of the opioid, and requiring the use of immediate-release formulations of opioids before extended-release opioids are dispensed.Limiting prescription opioids to a seven-day supply is said to be a significant restriction for patients. According to a recent report from the Centers for Disease Control and Prevention, the average pill supply given by doctors in the U.S. increased to 18 days 2015 from 13 days in 2006.In addition, pharmacists, while filling prescription for opioid pills, will be required to talk to patients about the risks of addiction, secure storage of medications in the home and proper disposal.Larry Merlo, President and CEO, CVS Health said, 'We are further strengthening our commitment to help providers and patients balance the need for these powerful medications with the risk of abuse and misuse.'According to a recent survey by the National Institute on Drug Abuse, one in three Americans, or 91.8 million Americans used opioid pills in 2015. CDC noted that more than 15,000 people died from prescription opioid overdose in 2015.CVS was the first large retail pharmacy chain to stop selling cigarettes in 2014.Copyright RTT News/dpa-AFX
22.09.2017

Lamprell Turns To Profit In H1; Lowers Revenue Outlook

LONDON (dpa-AFX) - Lamprell plc (LAM.L) reported first-half pretax profit of $1.2 million compared to a loss of $4.2 million, previous year. First-half profit from continuing operations was $1.1 million compared to a loss of $4.4 million. Profit per share was 0.30 cents compared to a loss per share of 1.27 cents.First-half total revenue was $159.2 million, significantly lower than $451.3 million, prior year. The company said the reduction reflects the adverse market conditions, particularly in the new build jackup rig sector and low levels of contract awards in 2016 and 2017 to date.Looking forward, Lamprell plc said it expects fiscal 2017 revenue to be in the range of $370-$390 million, marginally below previous guidance due primarily to the continuing low levels of walk-in work reflecting market conditions. For fiscal 2018, the Group said its outlook remains challenging with revenue currently expected to be around 10% lower than 2017 levels, contingent on the timing of potential contract awards.Christopher McDonald, CEO said: 'The business continues to deliver solid results broadly in line with our expectations despite the challenging market environment. Our balance sheet remains robust due to the combination of the efficiency measures we have taken over the past two years and our tight cost control measures. This places us in a good position to be cost competitive and maintain our discipline in bidding for new work.'The Directors of Lamprell plc did not recommend the payment of an interim dividend for the period in relation to current financial year ending 31 December 2017.Copyright RTT News/dpa-AFX
22.09.2017

Smiths Group FY Profit Rises; Underlying Revenue Down 1%

LONDON (dpa-AFX) - Smiths Group plc (SMIN.L) reported pretax profit from continuing operations of601 million pounds for the year ended 31 July 2017 compared to 346 million pounds, previous year. Profit to shareholders from continuing operations increased to 570 million pounds or 142.3 pence per share from 259 million pounds or 64.9 pence per share. Headline pre-tax profit was up 17% to 528 million pounds. Headline earnings per share was 96.3 pence compared to 84.3 pence. Fiscal year reported revenue from continuing operations increased by 11% to 3.28 billion pounds, including the positive effects of foreign currency translation and the net impact of acquisitions and disposals. On an underlying basis, revenue declined 1% as growth in Smiths Detection, Smiths Interconnect and Flex-Tek was offset by declines in John Crane and Smiths Medical.Andy Reynolds Smith, Group Chief Executive, said: 'We are well underway in repositioning the business through organic and inorganic investment with approximately 75% of the Group now well positioned in attractive markets. The disposal of four non-core businesses and the acquisition of Morpho Detection has supported the significant upgrading of the portfolio as we increasingly focus on scalable, technology-differentiated leadership positions in our chosen markets.'The Board recommended a final dividend per share of 29.70 pence, giving a total dividend for the year of 43.25 pence, an increase of 3% year-on-year.Copyright RTT News/dpa-AFX
22.09.2017

Carrefour Appoints Group Executive Committee For Improved Management

EVRY (dpa-AFX) - French grocery retailer Carrefour Group (CRERF, CRRFY, 0NPH.L) announced Friday the appointment of a Group Executive Committee for improved management of the Group.Alexandre Bompard, Chairman and Chief Executive Officer of Carrefour, announced that the new management team comprises managers from the Group and individuals from other horizons bringing complementary expertise.The new Group Executive Committee comprises 14 members and rallies around Bompard. The appointments will be effective from October 2nd, 2017.The company appointed Pascal Clouzard as Executive Director France, and Guillaume de Colonges as Executive Director Northern and Eastern Europe. He will be directly in charge of operations for Carrefour Belgium.Further, Thierry Garnier is appointed Executive Director Asia, in charge of Carrefour China, while NoŰl Prioux is appointed Executive Director Latin America, in charge of operations for Grupo Carrefour Brasil.Eric Uzan is appointed Executive Director Southern Europe, in charge of operations for Carrefour Spain.The first task of this new team will be to define and implement the Group's transformation plan. In order to improve coordination, some functions will be common to both the Group and France: 'Customers, Services and Digital Transformation', 'Human Resources' and 'Communications', the company said.Copyright RTT News/dpa-AFX
22.09.2017

Polaris Materials Receives Superior Takeover Proposal Of C$3.40/ Share In Cash

OTTAWA (dpa-AFX) - Polaris Materials Corp. (PLS.TO), a developer and operator of construction aggregate quarries in Canada, announced Friday that it has received an unsolicited offer from a major US-listed construction materials company. The offer is to buy the company by way of a statutory plan of arrangement for cash consideration of C$3.40 per share.On August 28, the company entered in an arrangement agreement to be acquired by Vulcan Materials Corp. and an affiliate by way of statutory plan of arrangement. The board of directors of Polaris recommended that shareholders vote in favour of the Plan of Arrangement. Under the Plan of Arrangement, shareholders would receive C$2.79 per share. Polaris now said its Board has considered the materials provided by the New Offeror and has determined in good faith that the New Offer is or could reasonably be expected to result in a Superior Proposal under the Vulcan Agreement.In accordance with the Vulcan Agreement, the company has notified Vulcan that it considers the New Offer to be a Superior Proposal under the Vulcan Agreement and that the five business day matching period has commenced, during which Vulcan has the right to propose to amend the terms of the deal and the Plan of Arrangement in order for the New Offer to cease to be a Superior Proposal. The Matching Period expires at 4:00 pm Vancouver time on September 28.At this time, there can be no assurance that the New Offer will lead to a termination of the Vulcan Agreement and the execution of a definitive agreement with the New Offeror. Accordingly, the Board has not changed its recommendation regarding the offer under the Vulcan Agreement.Copyright RTT News/dpa-AFX
22.09.2017

Telecom Stocks Seeing Notable Strength In Late-Day Trading

WASHINGTON (dpa-AFX) - Telecom stocks are seeing notable strength going into the close of trading on Friday, resulting in a 1.2 percent gain by the NYSE Arca Telecom Index. The index is on pace to end the session at its best closing level in a month.Sprint (S) has led the sector after a report from Reuters said the wireless carrier is close to agreeing to tentative terms on a merger with T-Mobile (TMUS).Copyright RTT News/dpa-AFX
22.09.2017

Electronic Storage Stocks Turning In Strong Performance

WASHINGTON (dpa-AFX) - Despite the modest weakness being shown by the broader markets, electronic storage stocks are seeing considerable strength in afternoon trading on Friday. Reflecting the strength in the sector, the NYSE Arca Disk Drive Index is up by 1.7 percent.Pure Storage (PSTG), Quantum (QTM), and Seagate Technology (STX) are turning in some of the storage sector's best performances.Copyright RTT News/dpa-AFX
22.09.2017

The Swiss Stock Market Finished Little Changed In Cautious Trade

BRUSSELS (dpa-AFX) - The Swiss stock market ended Friday's session with a very small increase. Investors were reluctant to take on further risk ahead of the weekend as tensions between the United States and North Korea have flared up again.North Korean leader Kim Jong Un and President Donald Trump have traded barbs back and forth at the end of the trading week. North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean. The Swiss Market Index increased by 0.03 percent Friday and finished at 9,136.72. The Swiss Leader Index advanced 0.06 percent and the Swiss Performance Index added 0.05 percent.Index heavyweight NestlÚ finished with a loss of 0.2 percent. The food giant's CEO is expected to announced measures to improve margins. The stock was also in focus following the death of L'Oreal billionaire Liliane Bettencourt. NestlÚ had agreed not to increase its 23 percent stake in the company for at least six months beyond her death.Novartis increased 0.6 percent while Roche fell 0.4 percent.Personnel service provider Adecco weakened by 1.8 percent after it held an investor meeting.Meanwhile, Dufry advanced 2.9 percent after analysts met with management. The company's CEO also announced the distribution of a dividend.Sika gained 1.3 percent after Kepler Cheuvreux reaffirmed their 'Buy' rating on the stock. Richemont increased 0.6 percent and Swatch added 0.4 percent.Copyright RTT News/dpa-AFX
22.09.2017

European Markets Finished Mixed As Geopolitical Concerns Weigh

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Friday's session with mixed results. Investors were pleased by the solid private sector data from both Germany and the Eurozone at the end of the trading week. However, optimism over the positive data was offset by geopolitical concerns, as tensions between North Korea and the United States flared up again.North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean. North Korean leader Kim Jong Un and President Donald Trump have also been engaging in a war of word. Kim described Trump's threat to 'totally destroy' North Korea as 'mentally deranged behavior.' Trump responded to Kim's statement with a post on Twitter on Friday, calling the North Korean dictator a 'madman.'U.K. Prime Minister Theresa May hinted at the departure from the European Union by March 2019.'We are moving through a new and critical period in the history of the United Kingdom's relationship with the European Union. The British people have decided to leave the EU and be a global free-trading nation able to chart our own way in the world,' May said at a speech in Florence.The UK membership in the European Union will end on March 29, 2019, she told. Neither the UK nor the EU could implement a new smooth relationship at that point.May said that it is impossible to have all the advantages of the single market with none of the disadvantages. Hence, a 'creative' economic partnership was needed.The pan-European Stoxx Europe 600 index advanced 0.05 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.03 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.06 percent.The DAX of Germany dropped 0.06 percent, but the CAC 40 of France rose 0.27 percent. The FTSE 100 of the U.K. gained 0.64 percent and the SMI of Switzerland finished higher by 0.03 percent.In Paris, cosmetics giant L'Oreal rallied 2.46 percent on speculation about the future of the company after billionaire Liliane Bettencourt died at the age of 94.In London, outsourcing firm Capita lost 1.23 percent as staff represented by trade union Unite has voted in favor of industrial action.Smiths Group dropped 5.83 percent after the conglomerate reported a fall in underlying full-year revenue.Telecom company Telia slid 0.34 percent in Stockholm after it agreed to pay a combined total penalty of more than $965 million to resolve charges arising out of a scheme to pay bribes in Uzbekistan.The eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May, flash data from IHS Markit showed Friday. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6. Germany's private sector grew at the fastest pace in almost six-and-a-half years in September, flash data from IHS Markit showed Friday. The composite output index rose unexpectedly for the consecutive second month in September, to 57.8 from 55.8 in August. This was the highest reading since April 2011. The reading was forecast to fall to 55.7.France's private sector expanded the most since May 2011, flash data from IHS Markit showed Friday. The composite Purchasing Managers' Index rose unexpectedly to a 76-month high of 57.2 in September. Economists had forecast the index to drop to 55.0 from 55.2 in August.France's economic growth held steady in the second quarter as previously estimated, latest figures from the statistical office Insee showed Friday. Gross domestic product expanded 0.5 percent sequentially, the same pace of growth as seen in the first quarter. This was in line with the estimate published on August 29.Copyright RTT News/dpa-AFX
22.09.2017

Geopolitical Tensions To Reflect On Wall Street

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Tensions brewing from geopolitical developments keeps the market on alert. The latest threat is from North Korea's consideration of a nuclear test, discarding President Donald Trump warnings. The impact of hurricanes will also be reflected on the negative mood. The Purchase Managers' flash index is keenly awaited by the investors. Initial trading on the U.S. Futures Index suggest that Wall Street might open in the red. Asian shares closed mostly lower. European shares are trading currently up. As of 7 am ET, the Dow futures were slipping 10 points, the S&P 500 futures were shedding 2.50 points and the Nasdaq 100 futures were slipping 10.25 points.U.S. stocks closed lower on Thursday. The Dow dipped 53.36 points or 0.2 percent to 22,359.23, the Nasdaq slid 33.35 points or 0.5 percent to 6,422.69 and the S&P 500 fell 7.64 points or 0.3 percent to 2,500.60.On the economic front, the flash Composite Purchasing Managers' Index for the September will be issued at 9.45 am ET. The economist are looking for consensus of 54.9, down from 56.0 a month ago. Atlanta Fed Business Inflation Expectations for September will be published at 10.00 am ET. The prior month business inflation expectations were up 1.9 percent. Kansas City Federal Reserve Bank President Esther George will deliver the keynote address at the 'Global Oil Supply & Demand: Prospects for Greater Balance' Conference in Oklahoma City, with audience Q&A at 9.30 am ET. Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the previous week, the North American Rig Count was 1148, while U.S. rig count was 936.In the corporate sector, Lamprell plc reported first-half pretax profit of $1.2 million compared to a loss of $4.2 million, previous year. Profit per share was 0.30 cents compared to a loss per share of 1.27 cents. First-half total revenue was $159.2 million, significantly lower than $451.3 million, prior year. Asian stocks fell broadly on Friday. S&P Global Ratings downgraded China's credit rating, citing higher economic and financial risks after a prolonged period of strong credit growth. The ratings agency also lowered its sovereign rating on Hong Kong, citing spillover risks. Chinese stocks ended off their day's lows. The benchmark Shanghai Composite index slipped 5.28 points or 0.16 percent to 3,352.53 while Hong Kong's Hang Seng index finished down 229.80 points or 0.82 percent at 27,880.53. Japanese shares slipped from a two-year high. The Nikkei average ended down 51.03 points or 0.25 percent at 20,296.45 after hitting as high as 20,417.07 earlier in the day. The broader Topix index closed 0.25 percent lower at 1,664.61.Australian shares rose notably to snap a three-day losing streak. The benchmark S&P/ASX 200 rose by 26.70 points or 0.47 percent to 5,682.10 while the All Ordinaries index ended 23.90 points or 0.42 percent higher at 5,740.60.European shares are trading mostly up. Among the major indexes in the region, the CAC 40 Index of France is climbing 26.99 points or 0.51 percent. The U.K. FTSE 100 Index is adding 15.87 points or 0.19 percent and the Swiss Market Index is progressing 13.72 points or 0.15 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.33 percent.Copyright RTT News/dpa-AFX
22.09.2017

Geopolitical Tensions To Reflect On Wall Street

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Tensions brewing from geopolitical developments keeps the market on an alert. The latest threat is from North Korea's consideration of a nuclear test, discarding President Donald Trump warnings. The impact of hurricanes will also be reflected on the negative mood. The Purchase Managers' flash index is keenly awaited by the investors. Initial trading on the U.S. Futures Index suggest that Wall Street might open in the red. Asian shares closed mostly lower. European shares are trading currently up. As of 7 am ET, the Dow futures were slipping 10 points, the S&P 500 futures were shedding 2.50 points and the Nasdaq 100 futures were slipping 10.25 points.U.S. stocks closed lower on Thursday. The Dow dipped 53.36 points or 0.2 percent to 22,359.23, the Nasdaq slid 33.35 points or 0.5 percent to 6,422.69 and the S&P 500 fell 7.64 points or 0.3 percent to 2,500.60.On the economic front, the flash Composite Purchasing Managers' Index for the September will be issued at 9.45 am ET. The economist are looking for consensus of 54.9, down from 56.0 a month ago. Atlanta Fed Business Inflation Expectations for September will be published at 10.00 am ET. The prior month business inflation expectations were up 1.9 percent. Kansas City Federal Reserve Bank President Esther George will deliver the keynote address at the 'Global Oil Supply & Demand: Prospects for Greater Balance' Conference in Oklahoma City, with audience Q&A at 9.30 am ET. Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the previous week, the North American Rig Count was 1148, while U.S. rig count was 936.In the corporate sector, Lamprell plc reported first-half pretax profit of $1.2 million compared to a loss of $4.2 million, previous year. Profit per share was 0.30 cents compared to a loss per share of 1.27 cents. First-half total revenue was $159.2 million, significantly lower than $451.3 million, prior year. Asian stocks fell broadly on Friday. S&P Global Ratings downgraded China's credit rating, citing higher economic and financial risks after a prolonged period of strong credit growth. The ratings agency also lowered its sovereign rating on Hong Kong, citing spillover risks. Chinese stocks ended off their day's lows. The benchmark Shanghai Composite index slipped 5.28 points or 0.16 percent to 3,352.53 while Hong Kong's Hang Seng index finished down 229.80 points or 0.82 percent at 27,880.53. Japanese shares slipped from a two-year high. The Nikkei average ended down 51.03 points or 0.25 percent at 20,296.45 after hitting as high as 20,417.07 earlier in the day. The broader Topix index closed 0.25 percent lower at 1,664.61.Australian shares rose notably to snap a three-day losing streak. The benchmark S&P/ASX 200 rose by 26.70 points or 0.47 percent to 5,682.10 while the All Ordinaries index ended 23.90 points or 0.42 percent higher at 5,740.60.European shares are trading mostly up. Among the major indexes in the region, the CAC 40 Index of France is climbing 26.99 points or 0.51 percent. The U.K. FTSE 100 Index is adding 15.87 points or 0.19 percent and the Swiss Market Index is progressing 13.72 points or 0.15 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.33 percent.Copyright RTT News/dpa-AFX
22.09.2017

European Shares Broadly Higher As Investors Await Brexit Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were mostly higher on Friday as upbeat readings on German as well as Eurozone private sector helped investors shrug off renewed geopolitical tensions. Investors also looked ahead to U.K. Prime Minister Theresa May's Brexit speech later in the day and the German federal election, due this weekend for further direction. It is widely expected that Chancellor Angela Merkel will win a fourth term.The euro strengthened against its major rivals after data showed German private sector activity grew at the fastest pace in almost six-and-a-half years in September.Eurozone business activity also picked up to its highest level since May, signaling robust growth momentum in the region.Separately, flash data from IHS Markit revealed that France's private sector expanded the most since May 2011. The composite PMI rose unexpectedly to a 76-month high of 57.2 in September.The pan-European Stoxx Europe 600 index was up 0.2 percent at 383.46 in late opening deals after rising 0.2 percent in the previous session to close at its highest level since July 20. The German DAX was moving up 0.3 percent, France's CAC 40 index was rising half a percent and the U.K.'s FTSE 100 was up 0.3 percent. French cosmetics giant L'Oreal rallied 3 percent on speculation about the future of the company after billionaire Liliane Bettencourt died at the age of 94.Mining stocks were broadly lower as renewed geopolitical tensions as well as China's rating downgrade pulled down metal prices.Swedish telecom company Telia slid half a percent after it agreed to pay a combined total penalty of more than $965 million to resolve charges arising out of a scheme to pay bribes in Uzbekistan.British outsourcing firm Capita lost 1 percent as staff represented by trade union Unite has voted in favor of industrial action.Smiths Group shares fell as much as 3.5 percent after the conglomerate reported a fall in underlying full-year revenue.Copyright RTT News/dpa-AFX
22.09.2017

FTSE 100 Holds Steady Ahead Of May's Brexit Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. shares eked out modest gains on Friday as investors shrugged off geopolitical worries and looked ahead to Prime Minister Theresa May's speech on Brexit later in the day.The benchmark FTSE 100 was up 15 points or 0.20 percent at 7,278 in late opening deals after closing 0.1 percent lower the previous day.Outsourcing firm Capita lost 1 percent as staff represented by trade union Unite has voted in favor of industrial action.Smiths Group shares fell as much as 3.5 percent after the conglomerate reported a fall in underlying full-year revenue.Mining stocks were broadly lower as renewed geopolitical tensions as well as China's rating downgrade pulled down metal prices.However, Rio Tinto edged up 0.2 percent after launching a share buyback.Copyright RTT News/dpa-AFX
22.09.2017

CAC 40 Rises As Investors Shrug Off Geopolitical Tensions

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French shares rose on Friday as investors shrugged off geopolitical tensions and looked ahead to U.K. Prime Minister Theresa May's Brexit speech later in the day and the German federal election, due this weekend. The benchmark CAC 40 was up 28 points or 0.53 percent at 5,295 in late opening deals after gaining half a percent on Thursday.Grocery retailer Carrefour Group rose half a percent after appointing a Group Executive Committee for improved management of the Group.Cosmetics giant L'Oreal rallied 3.5 percent on speculation about the future of the company after billionaire Liliane Bettencourt died at the age of 94.In economic releases, France's economic growth held steady in the second quarter as previously estimated, latest figures from the statistical office Insee showed. GDP expanded 0.5 percent sequentially, the same pace of growth as seen in the first quarter. This was in line with the estimate published on August 29.Separately, flash data from IHS Markit revealed that France's private sector expanded the most since May 2011. The composite PMI rose unexpectedly to a 76-month high of 57.2 in September.Copyright RTT News/dpa-AFX
22.09.2017

DAX Inches Higher Ahead Of German Vote

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German shares were slightly higher on Friday as investors shrugged off geopolitical tensions and looked ahead to the federal election, due this weekend. It is widely expected that Chancellor Angela Merkel will win a fourth term.The benchmark DAX was up 17 points or 0.13 percent at 12,617 in late opening deals after closing 0.3 percent higher the previous day.Daimler shares were marginally higher. The automaker plans to invest $1 billion to expand its Mercedes Benz operations near Tuscaloosa, Ala.Innogy edged up 0.2 percent. The energy group currently has no plans to sell its troubled British retail unit Npower, Chief Executive Peter Terium said.In economic releases, Germany's private sector grew at the fastest pace in almost six-and-a-half years in September, flash data from IHS Markit showed. The composite PMI rose unexpectedly to 57.8 from 55.8 in August, rising for the second consecutive month.Copyright RTT News/dpa-AFX
22.09.2017

Norges Bank Unlikely To Hike Rates In Near Future: Capital Economics

OSLO (dpa-AFX) - Norway's interest rate increases seem very far with inflation likely to remain below the central bank's target in the medium term and a cooling housing market environment, Jack Allen, an economist at Capital Economics, said.Norges Bank retained its key policy rate at 0.50 percent in a unanimous vote on September 21 and hinted that the rate will remain at current level in the period ahead.Looking ahead, the bank sees the risks to its forecast that annual mainland GDP growth will remain around 2 percent over the next few years as balanced.The latest survey indicators suggest that growth will pick up, but slower growth in housing market activity will weigh on housing investment.Meanwhile, continued weak wage growth and the recent rise in the Krone exchange rate forced bank to push its inflation forecast in 2018 down slightly.But, the bank nudged up its forecast for inflation by the end of 2019, nonetheless well below the 2.5 percent target.Based on this given aspects, the Norges Bank increased its interest rate forecast slightly, implying that it will begin tightening monetary policy mid-way through 2019, the economist said.By contrast, Capital Economics expects that the bank will wait until 2020.'Meanwhile, significant risks remain in the housing market,' Allen pointed out.House price inflation has slowed even more sharply than the Norges Bank anticipated, after macro-prudential regulations were implemented in January to tackle the risk of a bubble. 'To be clear, we don't expect a crash in the housing market, as the fundamental forces that have pushed house prices up are likely to remain in place,' Allen said.'...But there is clearly a risk that things turn out worse than expected.'That would cause the economic recovery to slow, and so warrant lower interest rates, the economist added.Capital Economics has penciled in the first hikes for 2020, much later than the consensus forecast, Allen said.Copyright RTT News/dpa-AFX
22.09.2017

Eurozone Private Sector Growth At 4-Month High

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Eurozone's private sector expanded at the fastest pace in four months in September signaling that the economy ended the third quarter on a strong note. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August, flash data from IHS Markit showed Friday. The expected score was 55.6. Growth accelerated in both manufacturing and services, albeit with the former continuing to lead the expansion. The service sector activity showed the biggest growth since May, while the expansion in manufacturing output was the greatest since April 2011. The services Purchasing Managers' Index increased to 55.6 from 54.7 in August. The score was forecast to rise slightly to 54.8. At the same time, the factory PMI climbed to 58.2 from 57.4 a month ago, while it was forecast to fall to 57.2. 'The survey data point to 0.7 percent GDP growth for the third quarter, with accelerating momentum boding well for a buoyant end to the year,' Chris Williamson, chief business economist at IHS Markit, said.'The rise in business activity and accompanying build-up of price pressures will fuel expectations that the ECB is poised to announce its intention to rein back some of its stimulus, reducing its asset purchases in 2018,' Williamson said.While PMI data will embolden policymakers, as inflation is set to rise only gradually markets are overestimating how soon the European Central Bank will raise interest rates, Stephen Brown, an economist at Capital Economics, said.Data showed that rates of expansion in France and Germany accelerated to the highest seen for over six years in September. Germany's composite output index rose unexpectedly for the consecutive second month in September, to 57.8, from 55.8 in August. This was the highest reading since April 2011. The consensus score was 55.7.The manufacturing PMI climbed to 60.6 in September from 59.3 in August. The expected reading was 59. The sector logged the sharpest monthly improvement in business conditions since April 2011. Similarly, the services PMI improved to a 6-month high of 55.6 from 53.5 in August. The score was above the expected level of 53.7. France's composite PMI rose unexpectedly to a 76-month high of 57.2 in September. Economists had forecast the index to drop to 55.0 from 55.2 in August.Manufacturing production rose to the greatest extent since April 2011. The factory PMI climbed to 56.0 from 55.8 in the previous month. The reading was forecast to drop to 55.5. The rate of growth in service sector activity accelerated in September and was only marginally weaker than May's near-six-year peak. The corresponding PMI improved to 57.1 from 54.9 a month ago. The expected level was 54.8.Copyright RTT News/dpa-AFX
22.09.2017

Russia CB Likely To Cut Rates Further On Lower Inflation Expectations

MOSCOW (dpa-AFX) - Russia's central bank is likely to cut interest rates in the near future amid lower inflation expectations as the economy is facing the large amount of spare capacity, William Jackson, an economist at Capital Economics, said.The Board of Directors decided to cut the key rate by 50 basis points to 8.50 percent, the Bank of Russia said in a statement on September 15.This followed a temporary pause in the easing cycle in July, after 100 basis points of rate cuts in the first half of the year.Bank of Russia Governor Elvira Nabiullina, however, struck a predictably cautious tone at post-meeting press conference, the economist observed.The recent rate cut was clearly motivated by August's CPI data, with the annual inflation falling to a post-communist low of 3.3 percent, well below the central bank's 4.0 percent target.The cautious tone of the accompanying statement stressed that the risks of inflation overshooting the Bank's target 'dominate' the risks of it overshooting target. The bank also raised concerns about capacity constraints - not just labor shortages, but also in production capacity.Meanwhile, Nabiullina repeatedly mentioned that inflation expectations were not yet anchored at target.The Board merely 'deems it possible' to cut interest rates again over the next couple of quarters and Nabiullina said she saw the key rate at 6.5-7.0 percent in 2019.Capital Economics continue to think the Russian economy is operating with a sizable output gap that should help to ease price pressures, even as the economy recovers.The firm expects headline inflation to stay below the bank's target over the forecast horizon.'If we're right that inflation will stay below target, that's likely to prompt the Bank's Board to lower interest rates by more than they are currently suggesting is probable,' Jackson predicted.Finally, Nabiullina stated that the inflation target is no longer 4.0 percent by the end of 2017, but rather close to 4.0 percent, although she said it was premature to talk about introducing a specific target range.Copyright RTT News/dpa-AFX
22.09.2017

Spain Trade Deficit Widens In July

MADRID (dpa-AFX) - Spain's foreign trade deficit increased notably in July from a year ago, as imports grew much faster than exports, preliminary figures from the Economy Ministry showed Friday.The trade deficit rose to EUR 2.1 billion in July from EUR 0.56 billion in the corresponding month last year.Exports climbed 3.9 percent year-over-year in July and imports surged by 10.8 percent.During the first seven months of the year, total trade deficit of the country was EUR 13.2 billion versus EUR 8.4 billion shortfall in the same period of 2016. Both exports and imports grew by 9.1 percent and 11.7 percent, respectively.Copyright RTT News/dpa-AFX
22.09.2017

Hungary Inflation Likely To Exceed Central Bank's Projection: Capital Economics

BRUSSELS (dpa-AFX) - Mounting capacity constraints and rapid wage growth in Hungary suggest that the headline inflation will turn out to be much stronger next year than the central bank expects, Liam Carson, an economist at Capital Economics, said following the central bank's interest rate announcement this week.The Magyar Nemzeti Bank cut the overnight central bank deposit rate by 10 basis points to -0.15 percent on September 19. The rate was cut to negative last year.The lending rate was kept unchanged at 0.90 percent. Nonetheless, this plays a much smaller role in determining overall role in determining overall monetary conditions than the deposit rate, the economist noted.Carson observed that the decision by the central bank to ease monetary conditions further looks like a policy misstep and unless policy makers reverse course soon, they will find themselves facing a more severe inflation problem further down the road.The accompanying press statement revealed a further easing measure that the cap on three-month deposits will be lowered further, from HUF 300 billion by end-September to HUF 75 billion by end-December - a larger reduction than had been anticipated.'These moves are likely to push down interbank rates further,' the economist noted.Further, the bank said that the year-end upper limit on the stock of deposits would remain at EUR 75 billion and suggested that it may adjust its swap instruments with which to provide forint liquidity to commercial banks.The central bank also lowered its inflation projections from 2.8 percent in 2018 and 3.0 percent in 2019 to 2.5 percent and 2.9 percent, respectively. Capital Economics pointed out that the latest forecasts fail to take account of the economy's mounting capacity constraints and rapid wage growth. Wages in the private sector are expanding at 13.5 percent annually, which was the sharpest pace in over a decade. This is likely to feed into a marked rise in consumer price pressures over the coming quarters and the firm's inflation forecast of 3.8 percent for 2018 sits well above that of the central bank, Carson said.'We're increasingly concerned that policymakers will continue to underestimate inflation risks,' the economist said.'If the MPC fails to reverse course soon, we could see a severe deterioration in the inflation outlook, prompting more aggressive rate hikes down the line.'Copyright RTT News/dpa-AFX
22.09.2017

Ireland Factory Gate Prices Fall For Third Month

DUBLIN (dpa-AFX) - Ireland's factory gate prices declined for the third straight month in August, figures from the Central Statistics Office showed Friday.The manufacturing industries output price index, excluding VAT, fell 2.4 percent year-over-year in August, which was worse than the 1.1 percent decrease in July.The annual price index for basic pharmaceutical products and pharmaceutical preparations decreased 7.0 percent and those of other manufacturing including medical and dental instruments and supplies slid by 6.0 percent.At the same time, the price index for mining and quarrying registered a growth of 4.1 percent. Prices of energy products rose notably by 6.3 percent.On a monthly basis, output prices dropped at a steady rate of 1.1 percent in August, marking its fifth successive decline in row.Copyright RTT News/dpa-AFX
22.09.2017

UK Manufacturers' Order Books Weaken In September

LONDON (dpa-AFX) - UK manufacturers' order books softened in September but both total orders and export orders remained strong, the Confederation of British Industry said Friday. According to the latest monthly Industrial Trends Survey, a net balance of 7 percent of manufacturers said order books were above normal but it was below August's 13 percent. The balance of manufacturers reporting a rise in export orders came in at 10 percent compared to 11 percent in August. A rounded balance of +28 percent expects output growth to accelerate in the coming quarter, with 39 percent forecasting volumes to increase, and 12 percent expecting a decline.'Manufacturers continue to report solid growth in output, while total order books and export order books are holding firm,'Anna Leach, CBI Head of Economic Intelligence, said.'Expectations for selling prices were largely in-line with the previous month, but price pressures do appear to have moderated somewhat since earlier in the year,' she added.The survey was conducted between August 24 and September 14.Copyright RTT News/dpa-AFX
22.09.2017

Poland Jobless Rate Falls As Expected In August

WARSAW (dpa-AFX) - Poland's unemployment rate decreased slightly in August, in line with expectations, figures from the Central Statistical Office showed Friday.The registered jobless rate dropped to 7.0 percent in August from 7.1 percent in July. The figure also matched consensus estimate.In the corresponding month last year, the unemployment rate was 8.4 percent.The number of unemployed people declined to 1.13 million in August from 1.14 million in the prior month. A year ago, the jobless figure totaled 1.35 million.Copyright RTT News/dpa-AFX
22.09.2017

ECB's Draghi Says Economic Recovery Will Reduce Youth Unemployment

BRUSSELS (dpa-AFX) - The strengthening of the recovery will continue to reduce the extent of youth unemployment, European Central Bank Mario Draghi, said Friday. In order to address structural causes of youth unemployment, a uniform degree of protection among workers, flexible labor arrangements, vocational training and trade openness are necessary conditions, he said in Dublin. The employment prospects of the young also depend on the existence of efficient labor market institutions, he noted.The persistence and heterogeneity of youth unemployment rates across the euro area countries even before the crisis, suggests that there is need for specific policies to improve education and labor market functioning in some countries.Segmentation of the labor market and poor vocational training are among the main reasons for the persistent high level of youth unemployment in several countries, Draghi added.Labor mobility across countries and sectors is bound to increase. Draghi said this will require adequate supranational policies.Copyright RTT News/dpa-AFX
22.09.2017

Eurozone Private Sector Growth Fastest Since May

BRUSSELS (dpa-AFX) - The eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May, flash data from IHS Markit showed Friday. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6. Growth accelerated in both manufacturing and services, albeit with the former continuing to lead the expansion. While service sector activity showed the largest rise since May, the increase in manufacturing output was the greatest since April 2011. The services Purchasing Managers' Index increased to 55.6 from 54.7 in August. The score was forecast to rise slightly to 54.8. At the same time, the factory PMI climbed to 58.2 from 57.4 a month ago, while it was forecast to fall to 57.2. 'The survey data point to 0.7 percent GDP growth for the third quarter, with accelerating momentum boding well for a buoyant end to the year,' Chris Williamson, chief business economist at IHS Markit, said.Copyright RTT News/dpa-AFX
22.09.2017

Dollar Little Changed As Trading Week Draws To A Close

WASHINGTON (dpa-AFX) - The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Investors have been reluctant to make any major moves going into the weekend, as tensions between the United States and North Korea have worsened again. The leaders of both nations have traded verbal jabs and North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean.The dollar slid to an early low of $1.2004 against the Euro Friday, but has since rebounded to around $1.1950.The eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May, flash data from IHS Markit showed Friday. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6. Germany's private sector grew at the fastest pace in almost six-and-a-half years in September, flash data from IHS Markit showed Friday. The composite output index rose unexpectedly for the consecutive second month in September, to 57.8 from 55.8 in August. This was the highest reading since April 2011. The reading was forecast to fall to 55.7.France's private sector expanded the most since May 2011, flash data from IHS Markit showed Friday. The composite Purchasing Managers' Index rose unexpectedly to a 76-month high of 57.2 in September. Economists had forecast the index to drop to 55.0 from 55.2 in August.France's economic growth held steady in the second quarter as previously estimated, latest figures from the statistical office Insee showed Friday. Gross domestic product expanded 0.5 percent sequentially, the same pace of growth as seen in the first quarter. This was in line with the estimate published on August 29.The buck dipped to an early low of $1.3595 against the pound sterling Friday, but has since bounced back to around $1.3530.The greenback dropped to a low of Y111.644 against the Japanese Yen this morning, but has since climbed to around Y111.995.Copyright RTT News/dpa-AFX
22.09.2017

Pound Extends Decline Amid U.K. PM Theresa May's Brexit Speech

BRUSSELS (dpa-AFX) - The pound continued to be lower against its major counterparts in early New York deals on Friday, following remarks by the U.K. Prime Minister Theresa May hinting at the departure from the European Union by March 2019.'We are moving through a new and critical period in the history of the United Kingdom's relationship with the European Union. The British people have decided to leave the EU and be a global free-trading nation able to chart our own way in the world,' May said at a speech in Florence.The UK membership in the European Union will end on March 29, 2019, she told. Neither the UK nor the EU could implement a new smooth relationship at that point.May said that it is impossible to have all the advantages of the single market with none of the disadvantages. Hence, a 'creative' economic partnership was needed, she told.Data from the Confederation of British Industry showed that UK manufacturers' order books softened in September but both total orders and export orders remained strong. According to the latest monthly Industrial Trends Survey, a net balance of 7 percent of manufacturers said order books were above normal but it was below August's 13 percent. The pound has been trading in a negative territory in the European session.The pound weakened to 1.3527 against the greenback, after having advanced to a 2-day high of 1.3596 at 2:00 am ET. The pound is likely to find support around the 1.34 area.The pound reversed from an early high of 152.79 against the Japanese yen, falling to a 2-day low of 151.17.Continuation of the pound's downtrend may see it challenging support around the 146.00 area.The pound slipped to 1.3074 against the Swiss franc, from a high of 1.3185 hit at 5:30 pm ET. The currency is poised to target 1.29 as the next support level.The pound dipped to a 2-day low of 0.8869 against the euro, following an uptick to 0.8787 at 5:00 pm ET. The next possible support for the pound is seen around the 0.90 mark.Flash data from IHS Markit showed that the eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.Copyright RTT News/dpa-AFX
22.09.2017

Canadian Dollar Eases After Inflation Data

CANBERA (dpa-AFX) - The Canadian dollar retreated from its early highs against its major counterparts in the European session on Friday, after data showed that the nation's consumer price inflation rose in line with forecasts in August.Data from Statistics Canada showed that inflation rose a seasonally adjusted 0.2 percent on month in August.The reading was unchanged from last month and matched economists' expectations.Core inflation slowed to 0.1 percent from 0.2 percent in seasonally adjusted terms.Separate data showed that retail sales rose more than expected in July, led by higher sales at motor vehicle and parts dealers and food and beverage stores.On month, retail sales increased 0.4 percent to C$49.1ábillion in July. This follows a 0.1 percent uptick in June and exceeded expectations for a 0.2 percent gain.Core retail sales grew 0.2 percent on a monthly basis, compared to a 0.4 percent growth last month. Economists had forecast the sales to improve 0.4 percent.Oil prices fell as a meeting between OPEC and non-OPEC nations kicked off in Vienna, where they discuss compliance with ongoing production curbs to contain the global oil glut.The ministers would discuss about the possible extension of 1.8 million barrels per day of supply cuts, which is set to expire in March 2018.Crude for November delivery dropped $0.14 to $50.41 per barrel.The loonie showed mixed performance in the Asian session. While the currency rose against the aussie and the greenback, it fell against the yen and the euro.The loonie retreated to 90.96 against the yen, from a 4-day high of 91.45 hit at 8:15 am ET. This may be compared to a 2-day low of 90.67 hit in the Asian session. If the loonie extends decline, 80.00 is possibly seen as its next support level.The loonie reversed from an early 2-day high of 1.2253 against the greenback, falling back to 1.2317. Continuation of the loonie's downtrend may see it challenging support around the 1.25 region.The loonie hovered at a 2-day low of 1.4743 against the euro, after having advanced to 1.4659 at 8:15 am ET. The next possible support for the loonie is seen around the 1.48 area.Flash data from IHS Markit showed that the eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6. The loonie fell to 0.9816 against the aussie, off its early 4-day high of 0.9750. If the loonie extends decline, 0.99 is possibly seen as its next support level.Looking ahead, Markit's U.S. manufacturing PMI for September is due shortly.At 9:15 am ET, ECB Vice President Vitor Constancio is chairing panel 'Macroprudential policy beyond banking' at the 2nd ESRB annual conference in Frankfurt, Germany.Federal Reserve Bank of Kansas City President Esther George gives opening keynote before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: 'Global Oil Supply & Demand: Prospects for Greater Balance at 9:30 am ET.Federal Reserve Bank of Dallas President Robert Kaplan participates in moderated Q&A session before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: 'Global Oil Supply & Demand: Prospects for Greater Balance' at 1:30 pm ET.Copyright RTT News/dpa-AFX
22.09.2017

Loonie Falls After Canada CPI, Retail Sales

CANBERA (dpa-AFX) - Following the release of Canada inflation for August and retail sales for July at 8:30 am ET Friday, the loonie dropped against its major rivals.The loonie was trading at 91.15 against the yen, 1.2297 against the greenback, 1.4712 against the euro and 0.9795 against the aussie around 8:31 am ET.Copyright RTT News/dpa-AFX
22.09.2017

Loonie Mixed Ahead Of Canada CPI, Retail Sales

CANBERA (dpa-AFX) - Statistics Canada will release Canada inflation for August and retail sales for July at 8:30 am ET Friday. Inflation is forecast to rise 0.2 percent on month after being flat in July.Ahead of the data, the loonie traded mixed against its major rivals. While the loonie rose against the euro and the yen, it held steady against the greenback and the aussie.The loonie was worth 91.35 against the yen, 1.2265 against the greenback, 1.4672 against the euro and 0.9777 against the aussie as of 8:25 am ET.Copyright RTT News/dpa-AFX
22.09.2017

Euro Climbs After Upbeat Eurozone, German PMIs

CANBERA (dpa-AFX) - The euro spiked up against its major rivals in the early European deals on Friday, as German private sector activity grew at the fastest pace in almost six-and-a-half years in September and Eurozone business activity picked up to its highest since May, signaling robust growth momentum in the region.Flash data from IHS Markit showed that Eurozone composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.While service sector activity showed the largest rise since May, the increase in manufacturing output was the greatest since April 2011. Separate data from the same agency showed that German composite output index rose unexpectedly for the consecutive second month in September, to 57.8 from 55.8 in August. This was the highest reading since April 2011. The reading was forecast to fall to 55.7.The manufacturing Purchasing Managers' Index climbed to 60.6 in September from 59.3 in August. The expected reading was 59.Speaking in Dublin, the European Central Bank President Mario Draghi said that the bank's monetary policy measures that aimed to maintain price stability are supporting domestic demand and thereby boosting employment.Countries should continue addressing youth unemployment with determination and as a priority, Draghi said.'We have seen how in several countries the weight of the crisis has fallen disproportionately on the young people, leaving a legacy of failed hopes, anger and ultimately mistrust in the values of our society and in the identity of our democracy.'The currency showed mixed performance in the Asian session. While the euro fell against the franc and the yen, it rose against the pound and the greenback.The euro climbed to 1.1998 against the greenback, from a low of 1.1937 hit at 5:30 pm ET. The next possible resistance for the euro-greenback pair is seen around the 1.21 region.The single currency spiked up to 1.1623 against the Swiss franc, a level unseen since January 2015. On the upside, 1.19 is possibly seen as the next resistance for the euro-franc pair. The euro hit a 2-day high of 0.8838 against the pound, after having fallen to 0.8787 at 5:00 pm ET.Continuation of the euro's uptrend may see it challenging resistance around the 0.90 region.The 19-nation currency reversed from an early low of 133.50 against the Japanese yen, rising to a 21-month high of 134.41. If the euro extends uptrend, it may target 136.00 as the next resistance level.The euro advanced to a 2-day high of 1.4743 against the loonie, up from Thursday's closing value of 1.4718. The euro is likely to challenge resistance around the 1.53 region.The common currency rose back to 1.5101 against the aussie, just few pips short of its early 3-week peak of 1.5109. Further uptrend may take the euro to a resistance around the 1.55 area.Looking ahead, Canada CPI for August and retail sales for July as well as Markit's U.S. manufacturing PMI for September are set for release in the New York session.At 7:15 am ET, ECB Vice President Vitor Constancio gives closing remarks at the ECB conference 'Low inflation: Lessons from the past! Lessons for the future?' in Frankfurt, Germany.Two hours later, Constancio is chairing panel 'Macroprudential policy beyond banking' at the 2nd ESRB annual conference in Frankfurt, Germany.Federal Reserve Bank of Kansas City President Esther George gives opening keynote before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: 'Global Oil Supply & Demand: Prospects for Greater Balance at 9:30 am ET.Federal Reserve Bank of Dallas President Robert Kaplan participates in moderated Q&A session before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: 'Global Oil Supply & Demand: Prospects for Greater Balance' at 1:30 pm ET.Copyright RTT News/dpa-AFX
22.09.2017

Euro Little Changed Following Eurozone PMI Data

BRUSSELS (dpa-AFX) - Following the release of Eurozone composite PMI data for September at 4.00 am ET Friday, the euro changed little against its major rivals. The euro was trading at 134.32 against the yen, 1.1615 against the franc, 1.1990 against the greenback and 0.8827 against the pound around 4:01 am ET.Copyright RTT News/dpa-AFX
22.09.2017

Euro Strengthens Ahead Of Eurozone PMI Data

BRUSSELS (dpa-AFX) - At 4.00 am ET Friday, IHS Markit is scheduled to issue Eurozone composite PMI data. The score is seen at 55.6 in September versus 55.7 in the previous month.Ahead of the data, the euro climbed against its major rivals. The euro was worth 134.32 against the yen, 1.1614 against the franc, 1.1993 against the greenback and 0.8826 against the pound as of 3:55 am ET.Copyright RTT News/dpa-AFX
22.09.2017

Euro Rises Further Following German PMI Data

BRUSSELS (dpa-AFX) - Following the release of German preliminary PMI data for September at 3:30 am ET Friday, the euro rose further against its major rivals. The euro was trading at 134.17 against the yen, 1.1605 against the franc, 1.1984 against the greenback and 0.8821 against the pound around 3:31 am ET.Copyright RTT News/dpa-AFX
22.09.2017

Euro Advances Ahead Of German PMI Data

BRUSSELS (dpa-AFX) - At 3:30 am ET Friday, Germany's preliminary PMI data is due. The composite PMI is expected to drop marginally to 55.7 in September from 55.8 in August. Ahead of the data, the euro climbed against its major rivals. The euro was worth 134.02 against the yen, 1.1598 against the franc, 1.1976 against the greenback and 0.8817 against the pound as of 3:25 am ET.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