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20.10.2017

Celgene Remains Firmly Negative After Initial Sell-Off

SUMMIT (dpa-AFX) - Shares of Celgene (CELG) continue to see significant weakness in late-day trading on Friday after an early sell-off. After hitting its lowest intraday level in four months, Celgene is currently down by 10.7 percent.Celgene initially came under pressure after the biopharmaceutical company discontinued two studies of its drug to treat Crohn's disease and said it would not begin a third.Copyright RTT News/dpa-AFX
20.10.2017

NCR Climbs Off Worst Levels But Remains Firmly Negative

WASHINGTON (dpa-AFX) - Shares of NCR Corp. (NCR) have climbed off their worst levels of the day but continue to see significant weakness in afternoon trading on Friday. After hitting its lowest intraday level in a year, NCR is currently down by 10.7 percent. The initial drop by NCR came after the payments processing company reported better than expected third quarter earnings but provided disappointing guidance for the current quarter.Copyright RTT News/dpa-AFX
20.10.2017

Intuitive Surgical Posting Strong Gain On Upbeat Q3 Results

SUNNYVALE (dpa-AFX) - After moving notably higher early in the session, shares of Intuitive Surgical (ISRG) continue to see considerable strength in afternoon trading on Friday. Intuitive Surgical is currently up by 3.6 percent after reaching a record intraday high.The early rally by Intuitive Surgical came after the surgical products maker reported third quarter results that exceeded analyst estimates on both the top and bottom lines.Copyright RTT News/dpa-AFX
20.10.2017

Ericsson Showing Strong Move To The Upside

STOCKHOLM (dpa-AFX) - Shares of Ericsson (ERIC) have shown a strong move to the upside during trading on Friday, jumping by 9.3 percent. Earlier in the session, Ericsson reached its best intraday level in three months.The advance by Ericsson comes after the Swedish telecom equipment maker posted a wider than expected third quarter loss on higher charges and weak sales but said it sees positive effects on gross margin in 2018.Copyright RTT News/dpa-AFX
20.10.2017

Consumer Reports To Call Tesla Model 3 'Average' In Reliability

WASHINGTON (dpa-AFX) - Tesla Motors Inc.'s (TSLA) new mass-market Model 3 Sedan will likely earn an average reliability score from Consumer Reports, the magazine said Thursday. The magazine said while it does not have data yet specifically from Model 3 owners, it makes predictions on every new and redesigned vehicle based on the manufacturer's history and data from vehicles that share major components.However, the magazine noted that owners of Tesla Model S have reported their car's reliability has improved, giving the EV sedan its first 'above average' rating. Due to the Model S's improved rating, the predicted reliability rating for the all-new Tesla Model 3 has also improved, as the new sedan borrows much of its technology from the Model S.'After digging into the data reported by more than 1,500 Tesla Model S owners, we expect the Model 3 should have average reliability. However, since the Model 3 is a new model, we don't expect the above average reliability we are seeing on the Model S,' Jake Fisher, director of auto testing at Consumer Reports said.Fisher noted that electric vehicles are inherently less complicated than gasoline- or hybrid-powered alternatives, and the Model 3 should be the least complicated Tesla yet.However, Tesla did not take the prediction lightly and questioned the accuracy of the magazine's review. The electric vehicle maker noted that Consumer Reports has not yet driven a Model 3, and did not know anything substantial about how the sedan was designed and engineered.'Ever since Consumer Reports declared Model S to be the best car ever and then revoked the rating after being questioned by Tesla skeptics, they have lowered the integrity of the automotive reporting by singling out Tesla to a degree that is absurd, unnecessary and unreliable based on tests and surveys that lack basic scientific integrity,' Tesla said.Consumer Reports has also released its 2017 reliability ratings based on its annual auto survey, ranking Kia Motor's Niro hybrid as the most reliable vehicle this year, while General Motor's Chevrolet Camaro was rated as the least reliable.Copyright RTT News/dpa-AFX
20.10.2017

Kansas City Southern Q3 Profit Rises, Results Beat View

WASHINGTON (dpa-AFX) - Kansas City Southern (KSU), a transportation holding company, reported an increase in profit for the third quarter from last year on higher revenues. Both revenue and adjusted earnings per share beat analysts' estimates. The company's net income for the third quarter was $129.2 million or $1.23 per diluted share, up from $120.5 million or $1.12 per share in the year-ago period.Excluding the impacts of foreign exchange rate fluctuations, adjusted earnings for the quarter was $1.35 per share, compared to $1.12 per share in the prior-year quarter. On average, eighteen analysts polled by by Thomson Reuters expected the company to earn $1.31 per share for the quarter. Analysts' estimates typically exclude special items. Revenues for the quarter rose 9 percent to $656.6 million from $604.5 million in the same period last year. Analysts had a consensus revenue estimate of $650.77 million. Carloads increased 3 percent in the quarter.'KCS' third quarter financial results were strong, even with the impact of Hurricane Harvey on KCS' U.S. Gulf Coast and cross-border traffic in August and September. Despite the severity of the storm and widespread flooding, we recovered quickly from the extended service outage, delivering record third quarter operating income, operating ratio and adjusted earnings per share,' President and Chief Executive Officer Patrick Ottensmeyer stated.Copyright RTT News/dpa-AFX
20.10.2017

Procter & Gamble Q1 Adj. Profit Tops View; Backs FY18 Outlook

CINCINNATI (dpa-AFX) - Procter & Gamble Company (PG) Friday reported a profit for the first quarter fiscal year 2018 that grew 5 percent from last year, while quarterly net sales increased one percent. Adjusted earnings per share topped analysts' expectations. The company maintained its expectation for fiscal year 2018.'First quarter sales and earnings results were in line with our going-in expectations and keep us on track to deliver our targets for the fiscal year,' said David Taylor, Chairman, President and Chief Executive Officer.In the pre-Market trade, PG is trading at $90.05, down $1.54 or 1.68%.Net earnings attributable to the company for the first quarter rose 5 percent to $2.85 billion from the prior year's $2.71 billion. Net earnings per share were $1.06, an increase of 10% versus the prior year.Net earnings per share from continuing operations were also $1.06, an increase of six percent versus the base period, primarily due to a reduction in outstanding shares. Core earnings per share, which exclude non-core restructuring charges, were $1.09, an increase of six percent from last year's $1.03. Analysts polled by Thomson Reuters expected the company to report earnings of $1.08 per share for the quarter. Analysts' estimates typically exclude special items.Currency-neutral core earnings per share also increased six percent for the quarter.Reported gross margin decreased 40 basis points, including a nominal impact from non-core restructuring charges versus the prior year. Core gross margin also decreased 40 basis points, including 30 basis points of negative foreign exchange impacts.On a currency-neutral basis, core gross margin decreased 10 basis points as 150 basis points of productivity savings were more than offset by 70 basis points of commodity cost increases, 50 basis points of unfavorable geographic and product mix and 40 basis points of product re-investments and other impacts.Net sales in the first quarter of fiscal year 2018 were $16.65 billion, an increase of one percent versus the prior year. Organic sales also increased one percent driven by a one percent increase in shipment volume. Pricing, mix and foreign exchange had no net impact on sales for the quarter. Wall Street expected revenues of $16.7 billion for the quarter.Beauty segment organic sales increased five percent versus year ago. Organic sales were up double digits in Skin & Personal Care driven by growth in China, including the continued acceleration of the super-premium SK-II brand due to the ongoing strength of the brand campaign. Organic sales increased low single digits in Hair Care primarily due to increased pricing across regions behind product innovation.Grooming segment organic sales decreased six percent due to lower sales in Shave Care, partially offset by growth in Appliances. Organic sales decreased high single digits in Shave Care due to price reductions in the U.S. and negative product mix. Organic sales increased double digits in Appliances driven by increased volume from the continued success of innovation on Braun male styling and mid-tier shavers.P&G said it maintained its guidance for organic sales growth in the range of two to three percent for fiscal 2018. The Company estimates all-in sales growth of about three percent for fiscal 2018, which includes a neutral to half-a-percentage-point benefit to sales growth from the combined impacts of foreign exchange, acquisitions and divestitures.The company also maintained its expectation for core earnings per share growth of five to seven percent versus fiscal 2017 Core earnings per share of $3.92. P&G noted that it maintained estimates despite over $100 million of incremental commodity cost headwinds resulting from the hurricanes that impacted the Gulf Coast in September. All-in GAAP earnings per share are expected to decrease 26% to 28% versus fiscal year 2017 GAAP earnings per share of $5.59, which included a significant benefit from the Beauty Brands transaction that was completed in October 2016. The fiscal 2018 GAAP earnings per share estimate includes approximately $0.10 per share of non-core restructuring costs.Copyright RTT News/dpa-AFX
20.10.2017

Bristol-Myers To Present Data Across Serious Liver Diseases

NEW YORK CITY (dpa-AFX) - Bristol-Myers Squibb Co. (BMY) said that new data across serious liver diseases, including nonalcoholic steatohepatitis or NASH, and hepatocellular carcinoma or HCC, will be presented at The Liver Meeting 2017 in Washington, DC, from October 20 to 24, 2017.Key data presentations include two analyses from a Phase 2 study of BMS-986036 (pegylated FGF21) in NASH, which provide further support of non-invasive methods, including imaging studies and serum Pro-C3, for assessing liver fibrosis.The company will also present data for Opdivo, or nivolumab, in HCC from CheckMate-040, the trial which was the basis for the recent FDA approval for the treatment of HCC patients previously treated with sorafenib, will be presented in a Presidential Plenary.'The data being presented at The Liver Meeting demonstrate our commitment to advancing the science in HCC and NASH, two serious liver diseases with unmet medical need,' said Tom Lynch, executive vice president and chief scientific officer of Bristol-Myers Squibb. Bristol-Myers Squibb said it is engaged in productive discussions with health authorities to advance the development program for BMS-986036. The company exclusively licensed the rights to research, develop and commercialize BMS-986036 from Ambrx, Inc.Bristol-Myers Squibb will also present study results regarding the occurrence of Hepatitis B Virus or HBV-associated and other clinical and treatment-associated outcome events in patients taking long-term Baraclude vs. other nucleos(t)ide monotherapy.Copyright RTT News/dpa-AFX
20.10.2017

GE Q3 Profit Declines, Miss Estimates; Orders Rise

FAIRFIELD (dpa-AFX) - Conglomerate General Electric Co. (GE) reported Friday weak earnings in its third quarter, despite increased revenues. Adjusted earnings were sharply lower than market estimates, while top line beat their view. John Flannery, Chairman and CEO, said, 'This was a very challenging quarter. While a majority of our businesses had solid earnings performance, this was offset by a decline in Power performance in a difficult market.'In pre-market activity, GE shares were losing around 5 percent to trade at $22.45.Flannery added that the Industrial CFOA for the quarter was down principally because of lower Power volume, resulting in lower earnings and higher inventory. The company expects the new leadership team at Power and the cost actions that are being taken will better position it in 2018 and beyond.In the third quarter, net earnings attributable to shareowners dropped 10 percent to $1.8 billion from $1.99 billion a year ago. Earnings per share fell 5 percent to $0.21 from $0.22 a year ago.Earnings from continuing operations were $1.91 billion, down 9 percent from $2.10 billion last year. Earnings per share from continuing operations dropped 4 percent to $0.22 from $0.23 a year ago.The latest results included impact of $0.16 per share resulting from impairments of $0.13 percent and higher restructuring and lower gains of $0.03Adjusted industrial operating earnings per share were $0.26, compared to $0.27 last year. Industrial operating + Verticals earnings, on adjusted basis, were $2.6 billion or $0.29 per share, compared to $0.32 per share last year.On average, 14 analysts polled by Thomson Reuters expected earnings of $0.49 per share. Analysts' estimates typically exclude special items.In the quarter, pre-tax earnings plunged 29 percent year-over-year to $1.47 billion.Industrial margin was 7.6 percent, down 240 basis points. Adjusted industrial margin dropped 220 basis points to 11.8 percent.Total revenues and other income climbed 14 percent to $33.47 billion from $29.27 billion last year. Analysts were looking for revenues of $32.56 billion.Sales of goods and services fell 10 percent from last year to $29.43 billion. Industrial segment revenues were $26.9 billion, up 10 percent, but it declined 1 percent organically.In the quarter, power revenues fell 4 percent to $8.68 billion, while oil & Gas revenues climbed 81 percent.Orders in the quarter increased 11 percent to $29.8 billion from $26.9 billion last year. Organic orders were flat.Backlog at the end of the quarter was $328 billion, up 3 percent from $319.2 billion last year.Copyright RTT News/dpa-AFX
20.10.2017

Baker Hughes Posts $104 Mln Loss In Q3

HOUSTON (dpa-AFX) - Baker Hughes (BHGE), a GE company, Friday posted a net loss of $104 million, or 24 cents per Class A share, for the third quarter. On an adjusted basis, net earnings were $23 million or 5 cents per Class A share.Revenues for the third quarter reached $5.375 billion, with orders totalling $5.722 billion.Copyright RTT News/dpa-AFX
20.10.2017

The Swiss Stock Market Clung To A Small Increase

BRUSSELS (dpa-AFX) - The Swiss stock market got off to a positive start Friday, but pared its gains over the course of the trading session. The stock managed to cling to a small increase, but ended the day little changed overall. Early strength was sparked by optimism for U.S. tax reform, after the Republican plan was passed by the Senate. However, the weak performance of index heavyweights Roche and Nestlé pressured the overall market.The Swiss Market Index increased by 0.04 percent Friday and finished at 9,237.13. The SMI ended the trading week with an overall loss of 0.8 percent, following five straight weeks of gains. The Swiss Leader Index climbed 0.45 percent Friday and the Swiss Performance Index added 0.06 percent. Roche dropped 1.8 percent, extending its losses from the previous session. The company had released quarterly results on Thursday. Nestlé also weakened by 0.5 percent, following its report yesterday. However, Novartis ended the day higher by 0.1 percent.Sonova declined 0.9 percent after Vontobel Research downgraded its rating on the stock to 'Hold' from 'Buy.' ??Credit Suisse climbed 2.3 percent and UBS rose 1.5 percent. Swiss Re increased 1.7 percent. The company estimates that the expected costs of the US hurricanes and the two earthquakes in Mexico at USD 3.6 billion.Zurich Insurance advanced 1.1 percent, Bâloise gained 1.4 percent and Swiss Life added 1.0 percent.Vifor Pharma was the top performing stock of the session, with an increase of 2.8 percent.Copyright RTT News/dpa-AFX
20.10.2017

European Markets Finished Little Changed As Early Gains Erode

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets got off to a positive start Friday, but pared their gains over the course of the day. The markets ended the day with small increases. Early strength was sparked by optimism for U.S. tax reform, after the Republican plan was passed by the Senate. Traders were also encouraged by a slew of upbeat earnings reports.However, concerns over the situation in Spain weighed on investors going into the weekend. a special cabinet meeting Saturday that could trigger process to take control of Catalonia's powers.The pan-European Stoxx Europe 600 index advanced 0.23 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.08 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.06 percent.The DAX of Germany climbed 0.01 percent and the CAC 40 of France rose 0.08 percent. The FTSE 100 of the U.K. gained 0.00 percent and the SMI of Switzerland finished higher by 0.04 percent.In Frankfurt, Software AG rallied 3.50 percent. The software company confirmed its recently raised forecast after reporting a rise in Q3 EBIT on IFRS basis.Daimler declined 0.84 percent after reporting a sharp fall in quarterly profit, hit by costs to fix emissions controls on diesel vehicles.Metro dropped 3.10 percent after posting muted growth in like-for-like sales for the fourth quarter of 2016/17.In Paris, Accor weakened by 3.29 percent. The hotel group said third-quarter revenues came in at 504 million euros, up 7.2% from 470 million euros last year.In London, gold miner Acacia Mining sank 8.86 percent after it reported lower production and earnings for the third quarter.ArcelorMittal advanced 2.05 percent Amsterdam after UBS upgraded its rating on the stock to 'Buy' from 'Neutral.'Ericsson jumped 7.96 percent in Stockholm. The Swedish telecom equipment maker posted wider than expected third-quarter loss on higher charges and weak sales, but said it sees positive effects on gross margin in 2018. Volvo surged 6.96 percent after it reported a bigger-than-expected rise in quarterly core earnings and raised its outlook for truck markets on both sides of the North Atlantic this year.The euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said Friday. The current account surplus rose to EUR 33.3 billion in August from EUR 31.5 billion in July. This was the highest since May 2016.Germany's producer prices increased at the fastest pace in five months in September, data from Destatis showed Friday. Producer price inflation rose more-than-expected to 3.1 percent in September from 2.6 percent in August. This was the fastest increase since April, when prices advanced 3.4 percent. Economists had forecast a 2.9 percent rise for September.The UK budget posted the smallest budget deficit in a decade for the month of September, suggesting that the borrowing is on the course to undershoot the full-year target. Public sector net borrowing, excluding banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September, the Office for National Statistics said Friday. This was the lowest September net borrowing since 2007 and also below the expected level of GBP 6.5 billion.After reporting U.S. existing home sales at their lowest level in a year in the previous month, the National Association of Realtors released a report on Friday showing an unexpected rebound in existing home sales in the month of September.NAR said existing home sales climbed by 0.7 percent to an annual rate of 5.39 million in September from a rate of 5.35 million in August. Economists had expected existing home sales to see further downside and drop to a rate of 5.30 million.Copyright RTT News/dpa-AFX
20.10.2017

Wall Street Hopes For Modest Opening

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The initial trend from U.S. Futures Index trading is positive and suggest that Wall Street might open moderately higher at the opening. Asian shares closed mostly higher, while European shares are trading in a positive territory. The market is looking ahead to Existing Home Sales data as well as Fed Chair Janet Yellen's speech on Monetary Policy. As of 7.15 am ET, the Dow futures were climbing 88 points, the S&P 500 futures were adding 5.75 points and the Nasdaq 100 futures were progressing 14.25 points.U.S. stocks closed mostly higher on Thursday. The Dow and the S&P 500 rose marginally to reach fresh record closing highs after the release of encouraging jobless claims and regional manufacturing data. The tech-heavy Nasdaq Composite dropped 0.3 percent.On the economic front, the National Association of Realtors' Existing Home Sales for September will be issued at 10.00 am ET. The economists are looking for consensus of 5.300 million, slightly down from 5.350 million in the previous month. The Baker Hughes North American rig count that tracks weekly changes in the number of active operating oil & gas rigs will be released at 1.00 pm ET. In the prior week, the North American Rig Count was 1140, while U.S. Rig count was 928.Cleveland Federal Reserve Bank President Loretta Mester will speak on a panel at 'The Future of Global Finance: Populism, Technology and Regulation' conference in New York City, with audience and media Q&A at 2.00 pm ET. The Treasury Budget for September is expected at 2.00 pm ET. The consensus is for a surplus of $3.0 billion, compared to deficit of $107.7 billion. Federal Reserve Chair Janet Yellen will deliver a lecture on 'Monetary Policy Since the Financial Crisis' at the NEC Herbert Stein Memorial Lecture and Annual Members Dinner in Washington, with audience Q&A at 7.30 pm ET. In the corporate sector, Procter and Gamble Co. (PG) reported first quarter net earnings of $2.870 billion, up 4 percent from $2.757 billion in the prior year. Net sales increased one percent to $16.653 billion, from $16.518 billion a year ago. German automaker Daimler AG reported lower profit in its third quarter, while revenues increased on strong unit sales. Net profit attributable to the shareholders declined to 2.177 billion euros for the quarter from last year's 2.595 billion euros. Earnings per share decreased to 2.03 euros from 2.43 euros in the prior year. The third-quarter earnings before interest and tax or EBIT fell to 3.458 billion euros from the prior year's 4.037 billion euros.Looking ahead, for fiscal 2017, the company projects significantly higher EBIT, revenues and unit sales.Asian stocks ended mostly higher on Friday. Chinese shares rose slightly but ended the week lower on concerns over slowing growth. The benchmark Shanghai Composite inched up 8.48 points or 0.25 percent to finish at 3,378.65. Hong Kong's Hang Seng index closed up 328.15 points or 1.17 1.2 percent at 28,493 in late trade. Hong Kong's jobless rate stood at 3.1 percent. Japanese shares rose for the 14th straight session to post their longest winning streak since January 1961. The Nikkei average closed marginally higher at 21,457.64 while gaining 1.4 percent for the week to post its sixth straight weekly gain. The broader Topix also ended little changed with a positive bias.Australian shares eked out modest gains after the U.S. Senate passed a budget vote that lawmakers expect will pave the way for introducing a tax reform Bill.The benchmark S&P/ASX 200 rose 10.90 points or 0.18 percent to close above 5,900 for the first time since May while the broader All Ordinaries index finished 0.15 percent higher at 5,968.60.European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 9.10 points or 0.17 percent. The German DAX is gaining 33.59 points or 0.26 percent, the U.K. FTSE 100 Index is progressing 17.86 points or 0.24 percent and the Swiss Market Index is up 15.24 points or 0.17 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.26 percent.Copyright RTT News/dpa-AFX
20.10.2017

European Shares Rise On Earnings, US Tax Reform Hopes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on Friday as a slew of upbeat earnings reports and the dollar's gains on increased optimism about the prospects for U.S. tax reforms helped investors shrug off renewed political uncertainty in Spain. The pan-European Stoxx Europe 600 index was up 0.3 percent at 390.07 in late opening deals after declining 0.6 percent on Thursday. The German DAX was also moving up 0.3 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were up around 0.2 percent each. Spain's IBEX was marginally lower in choppy trade ahead of a special cabinet meeting Saturday that could trigger process to take control of Catalonia's powers.Ericsson shares soared 4 percent in Stockholm. The Swedish telecom equipment maker posted wider than expected third-quarter loss on higher charges and weak sales, but said it sees positive effects on gross margin in 2018. Volvo jumped nearly 7 percent after it reported a bigger-than-expected rise in quarterly core earnings and raised its outlook for truck markets on both sides of the North Atlantic this year.Software AG shares rallied 3 percent. The German software company confirmed its recently raised forecast after reporting a rise in Q3 EBIT on IFRS basis.Daimler rose half a percent despite the automaker reporting a sharp fall in quarterly profit, hit by costs to fix emissions controls on diesel vehicles.Miners Anglo American, BHP Billiton, Glencore and Rio Tinto rose between 0.6 percent and 1.3 percent as London copper prices rebounded from overnight losses. Antofagasta shares were up nearly 3 percent.Gold miner Acacia Mining fell more than 5 percent as it reported lower production and earnings for the third quarter.German retailer Metro dropped 1.5 percent on posting muted growth in like-for-like sales for the fourth quarter of 2016/17.In economic releases, the euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said. The current account surplus rose to 33.3 billion euros in August from 31.5 billion euros in July. This was the highest since May 2016.The sterling was little changed after data showed the U.K. public sector deficit fell almost 11 percent in September compared with the corresponding period last year.Copyright RTT News/dpa-AFX
20.10.2017

FTSE 100 Inches Higher Led By Miners

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. shares were higher on Friday and the sterling was little changed after data showed the U.K. public sector deficit fell almost 11 percent in September compared with the corresponding period last year. Underlying sentiment was also helped by comments from Bank of England Governor Jon Cunliffe that he did not see signs of domestic inflation pressure.The benchmark FTSE 100 was up 23 points or 0.31 percent at 7,545 in late opening deals after closing around 0.3 percent lower on Thursday.Miners Anglo American, BHP Billiton, Glencore and Rio Tinto rose between 0.6 percent and 1.3 percent as London copper prices rebounded from overnight losses. Antofagasta shares were up nearly 3 percent.Engineering firm Smiths Group advanced 0.7 percent after it entered into a bulk annuity buy-in agreement with Canada Life. Gold miner Acacia Mining fell more than 5 percent as it reported lower production and earnings for the third quarter.Copyright RTT News/dpa-AFX
20.10.2017

CAC 40 Marginally Higher In Cautious Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French shares were marginally higher on Friday, the euro held steady and bond yields edged higher after the U.S. Senate adopted a fiscal 2018 budget resolution Thursday, a step forward towards overhauling the U.S. tax code.The benchmark CAC 40 was up 3 points or 0.06 percent at 5,371 in late opening deals after closing around 0.3 percent lower the previous day.Music and book retailer Fnac Darty climbed 2.4 percent. The company said that the deployment of synergies from the Fnac Darty integration is ahead of schedule.Boiron gained 1 percent on reporting an increase in its quarterly revenue.Air Liquide was marginally higher after entering into a new joint venture with China's Sinopec.Gas utility Engie slid half a percent after it agreed to buy U.S. energy-technology start-up Fenix International.In economic releases, the euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said. The current account surplus rose to 33.3 billion euros in August from 31.5 billion euros in July. This was the highest since May 2016.Copyright RTT News/dpa-AFX
20.10.2017

CAC 40 Marginally Higher In Cautious Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French shares were marginally higher on Thursday, the euro held steady and bond yields edged higher after the U.S. Senate adopted a fiscal 2018 budget resolution Thursday, a step forward towards overhauling the U.S. tax code.The benchmark CAC 40 was up 3 points or 0.06 percent at 5,371 in late opening deals after closing around 0.3 percent lower the previous day.Music and book retailer Fnac Darty climbed 2.4 percent. The company said that the deployment of synergies from the Fnac Darty integration is ahead of schedule.Boiron gained 1 percent on reporting an increase in its quarterly revenue.Air Liquide was marginally higher after entering into a new joint venture with China's Sinopec.Gas utility Engie slid half a percent after it agreed to buy U.S. energy-technology start-up Fenix International.In economic releases, the euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said. The current account surplus rose to 33.3 billion euros in August from 31.5 billion euros in July. This was the highest since May 2016.Copyright RTT News/dpa-AFX
20.10.2017

DAX Rises As US Senate Passes Budget

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German shares rose on Friday, the euro held steady and bond yields edged higher after the U.S. Senate adopted a fiscal 2018 budget resolution Thursday, a step forward towards overhauling the U.S. tax code. The benchmark DAX was up 28 points or 0.21 percent at 13,017 in late opening deals after declining 0.4 percent in the previous session.Software AG shares rallied 3.2 percent. The company confirmed its recently raised forecast after reporting a rise in Q3 EBIT on IFRS basis.Daimler rose half a percent despite the automaker reporting a sharp fall in quarterly profit, hit by costs to fix emissions controls on diesel vehicles.Retailer Metro dropped 1.4 percent on posting muted growth in like-for-like sales for the fourth quarter of 2016/17. In economic releases, the euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said. The current account surplus rose to 33.3 billion euros in August from 31.5 billion euros in July. This was the highest since May 2016.Copyright RTT News/dpa-AFX
20.10.2017

Asian Shares Rise On US Tax Reform Hopes

CANBERA (dpa-AFX) - Asian stocks ended mostly higher on Friday after the U.S. Senate adopted a fiscal 2018 budget resolution Thursday, a step forward towards overhauling the U.S. tax code.Overall gains remained muted somewhat as investors awaited the outcome of Sunday's Japanese general election and China's central bank governor, Zhou Xiaochuan, warned that excessive optimism could lead to a 'Minsky moment.' The U.S. dollar weakened against its rivals after media reports suggested that President Donald Trump is leaning toward nominating Federal Reserve governor Jerome Powell to succeed Janet Yellen.Investors also kept an eye on political tensions in Spain as a deadline set by Madrid for a final decision on independence approaches.Japanese shares rose for the 14th straight session to post their longest winning streak since January 1961 as the yen remained weak on hopes that Prime Minister Shinzo Abe's ruling coalition will win Sunday's general election.The Nikkei average closed marginally higher at 21,457.64 while gaining 1.4 percent for the week to post its sixth straight weekly gain. The broader Topix also ended little changed with a positive bias. While exporters ended mixed, suppliers to Apple like Murata Manufacturing and Alps Electric fell about 2 percent on signs of weak demand for Apple's iPhone 8 models.Chinese shares rose slightly but ended the week lower on concerns over slowing growth. The benchmark Shanghai Composite inched up 8.48 points or 0.25 percent to 3,378.65 but ended the week down about 0.4 percent.Hong Kong's Hang Seng index was up 1.2 percent at 28,493 in late trade. Hong Kong's jobless rate stood at 3.1 percent in the July to September period, the same rate as seen in three months to August, the Census and Statistics Department reported.Australian shares eked out modest gains after the U.S. Senate passed a budget vote that lawmakers expect will pave the way for introducing a tax reform Bill. The benchmark S&P/ASX 200 rose 10.90 points or 0.18 percent to close above 5,900 for the first time since May while the broader All Ordinaries index finished 0.15 percent higher at 5,968.60.National Australia Bank edged up 0.3 percent and Commonwealth Bank added 0.3 percent as their chief executives face a parliamentary inquiry. Mining giant BHP Billiton rose half a percent and smaller rival Fortescue Metals Group rallied 1.7 percent despite iron ore prices falling overnight.Vocus Group soared as much as 6.8 percent ahead of its investor day on Monday. Homewares retailer Adairs lost 2.2 percent after it was fined $66000 fine for alleged disclosure breach. Energy stocks finished flat to slightly lower after oil prices fell over 1 percent overnight to snap a four-day winning streak.Seoul stocks hit fresh record highs as investors lapped up technology stocks such as Samsung Electronics and SK Hynix on expectations of improved earnings. Utility stocks also gained ground following a proposal by a state commission to push ahead with the construction of two new nuclear reactors. The benchmark Kospi climbed 16.48 points or 0.67 percent to finish at 2,489.54.New Zealand shares finished marginally higher and the kiwi dollar hit five-month lows after the nationalist New Zealand First Party agreed to form a new government with centre-left Labour Party.Malaysia's KLSE Composite index was marginally lower after official data showed the country's consumer inflation climbed an annual 4.3 percent in September, faster than the 3.7 percent rise seen in August.Indian markets were closed for a public holiday. Singapore's Straits Times index was rising 0.1 percent and Indonesia's Jakarta Composite index was adding 0.6 percent while the Taiwan Weighted dropped 0.3 percent. U.S. stocks ended mixed overnight, with concerns over rising corporate debt in China, global political uncertainty and mixed earnings news weighing on markets.The Dow and the S&P 500 rose marginally to reach fresh record closing highs after the release of encouraging jobless claims and regional manufacturing data. The tech-heavy Nasdaq Composite dropped 0.3 percent.Copyright RTT News/dpa-AFX
20.10.2017

European Shares Seen Up As US Senate Passes Budget Blueprint

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open higher on Friday after the U.S. Senate adopted a fiscal 2018 budget resolution Thursday, a step forward towards overhauling the U.S. tax code. The dollar weakened against its rivals amid political tensions in Spain as a deadline set by Madrid for a final decision on independence approaches.Traders also remain anxious to hear who President Donald Trump will pick as next Fed chief, with media reports suggesting that he is leaning toward nominating Federal Reserve governor Jerome Powell to succeed Janet Yellen.Asian stock markets are turning in a mixed performance after China's central bank governor, Zhou Xiaochuan, warned of the risks of a 'Minsky moment,' citing risks from high corporate debt and household lending. Investors also await Sunday's Japanese general election, with recent polls suggesting that Prime Minister Shinzo Abe's coalition is on track for a roughly two-thirds majority.Elsewhere in New Zealand, the nationalist New Zealand First Party has agreed to form a new government with centre-left Labour Party.Gold drifted lower while crude oil prices edged higher in Asian deals after losing more than 1 percent on Thursday to snap a four-day winning streak.The day's economic calendar remains light, with public sector finance figures from the U.K. and current account data from the euro area slated to be released later in the session. U.S. stocks ended mixed overnight, with concerns over rising corporate debt in China, global political uncertainty and mixed earnings news weighing on markets.The Dow and the S&P 500 rose marginally to reach fresh record closing highs after the release of encouraging jobless claims and regional manufacturing data. The tech-heavy Nasdaq Composite dropped 0.3 percent on signs of weak demand for Apple's iPhone 8 models.European markets ended Thursday's session firmly in the red as earnings proved to be a mixed bag and Spain said it would start suspending Catalonia's autonomy from Saturday.The pan-European Stoxx Europe 600 index declined 0.6 percent. The German DAX dropped 0.4 percent, while the U.K.'s FTSE 100 and France's CAC 40 index both slid around 0.3 percent.Copyright RTT News/dpa-AFX
20.10.2017

U.S. Existing Home Sales Unexpectedly Rebound In September

WASHINGTON (dpa-AFX) - After reporting U.S. existing home sales at their lowest level in a year in the previous month, the National Association of Realtors released a report on Friday showing an unexpected rebound in existing home sales in the month of September.NAR said existing home sales climbed by 0.7 percent to an annual rate of 5.39 million in September from a rate of 5.35 million in August. Economists had expected existing home sales to see further downside and drop to a rate of 5.30 million.Despite the unexpected monthly increase, existing home sales in September were down by 1.5 percent compared to the same month a year ago.'Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country,' said NAR chief economist Lawrence Yun.He added, 'Realtors this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings - especially at the lower end of the market - and fast-rising prices that are straining the budgets of prospective buyers.'Yun noted sales activity likely would have been somewhat stronger if not for notable declines in parts of Texas and South Florida due to the impact of Hurricanes Harvey and Irma.The report said existing home sales in the West surged up by 3.3 percent, and existing home sales in the Midwest jumped by 1.6 percent.Existing home sales in the Northeast came in unchanged compared to the previous month, while existing home sales in the South fell by 0.9 percent.The median existing home price in September was $245,100, up 4.2 percent from $235,200 in the same month a year ago.Total housing inventory rose 1.6 percent to 1.90 million existing homes available for sale at the end of September but still remains 6.4 percent lower year-over-year.NAR also said single-family home sales climbed by 1.1 percent to a rate of 4.79 million, while existing condominium and co-op sales fell by 1.6 percent to rate of 600,000.Next Wednesday, the Commerce Department is scheduled to release a separate report on new home sales in the month of September.Copyright RTT News/dpa-AFX
20.10.2017

Bank Of Italy Estimates Q3 Growth At 0.5%

BRUSSELS (dpa-AFX) - Italy's economic growth improved slightly in the third quarter, led by strong performance in the service sector and non-construction industry, the Bank of Italy said Friday. Gross domestic product continued to grow at a steady pace in the third quarter, gaining 0.5 percent on the previous period, a slight acceleration with respect to the spring, the bank said in its latest quarterly economic bulletin.The economy expanded 0.3 percent in the second quarter and 0.5 percent in the first three months of the year. 'During the summer, output appears to have again benefited from the growth in value added in the service sector and in non-construction industry, which both showed an improvement on the second quarter,' the bank said in the report.For the full year 2017, GDP growth may be slightly higher than the 1.4 percent estimated in the previous bulletin, the bank said. The economy grew 0.9 percent in 2016.Copyright RTT News/dpa-AFX
20.10.2017

Bank Of Italy Sees Q3 Growth Of 0.5%

BRUSSELS (dpa-AFX) - Italy's economic growth improved slightly in the third quarter, led by strong performance in the service sector and non-construction industry, the Bank of Italy said Friday. Gross domestic product continued to grow at a steady pace in the third quarter, gaining 0.5 percent on the previous period, a slight acceleration with respect to the spring, the bank said in its latest quarterly economic bulletin.The economy expanded 0.3 percent in the second quarter and 0.5 percent in the first three months of the year. 'During the summer, output appears to have again benefited from the growth in value added in the service sector and in non-construction industry, which both showed an improvement on the second quarter,' the bank said in the report.For the full year 2017, GDP growth may be slightly higher than the 1.4 percent estimated in the previous bulletin, the bank said. The economy grew 0.9 percent in 2016.Copyright RTT News/dpa-AFX
20.10.2017

UK Logs Decade Low Budget Deficit For September

LONDON (dpa-AFX) - The UK budget posted the smallest budget deficit in a decade for the month of September, suggesting that the borrowing is on the course to undershoot the full-year target. Public sector net borrowing, excluding banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September, the Office for National Statistics said Friday. This was the lowest September net borrowing since 2007 and also below the expected level of GBP 6.5 billion.Receipts were boosted by a 3.2 percent rise in income tax and a 3.6 percent increase in the value added tax.During the April to September period, PSNB decreased by GBP 2.5 billion to GBP 32.5 billion, which was the lowest year-to-date net borrowing since 2007, the ONS reported.The actual borrowing was well below the Office for Budget Responsibility's full-year forecast of GBP 58.3 billion. Chancellor of the Exchequer Philip Hammond is set to present his Autumn Budget on November 22. The OBR looks set to revise down its assumptions about productivity and the UK economy's potential to grow when it publishes its forecasts alongside the Budget, Paul Hollingsworth, an economist at Capital Economics, said. This will constrain the Chancellor's ability to provide big giveaways in the very near term, the economist added. Data showed that public sector net debt totaled GBP 1,785.3 billion at the end of September, equivalent to 87.2 percent of gross domestic product.Copyright RTT News/dpa-AFX
20.10.2017

Italy's Current Account Surplus Rises In August

ROME (dpa-AFX) - Italy's current account surplus increased in August from the previous year, the Bank of Italy reported Friday.The current account surplus rose to EUR 3.68 billion from EUR 3.39 billion in the previous year. The trade in goods showed a surplus of EUR 3.58 billion compared to EUR 3.27 billion last year. Meanwhile, the surplus on services fell to EUR 378 million from EUR 524 million. At the same time, primary income rose to EUR 1.36 billion from EUR 995 million a year ago. The deficit on secondary income widened to EUR 1.64 billion from EUR 1.39 billion. The capital account showed a shortfall of EUR 143 million versus EUR 220 million in the previous year, data showed. In the twelve months to August, the current account surplus totaled EUR 46.3 billion, equivalent to 2.7 percent of GDP, compared to EUR 41.3 billion in the corresponding period of 2016.Copyright RTT News/dpa-AFX
20.10.2017

Latvia Producer Price Inflation Unchanged

BRUSSELS (dpa-AFX) - Latvia's producer price inflation was unchanged in September, as an acceleration in domestic market price growth was offset by a slowing in that for exports, data from Central Statistical Bureau showed Friday. Overall producer price inflation was 3.3 percent, same as in August. The rate was the lowest since June, when it was 3.1 percent. Prices climbed for the eighth straight month. Domestic market prices rose 3.5 percent year-on-year after increasing 3.3 percent in the previous month. Export market prices grew 3.1 percent following a 3.3 percent gain. Compared to the previous month, total producer prices rose 0.3 percent in September after a 0.1 percent gain in August. Domestic market prices also climbed 0.3 percent and export prices increased 0.2 percent. Both had risen 0.1 percent each in the previous month.Copyright RTT News/dpa-AFX
20.10.2017

BoJ Chief Says Economy Well Balanced By External, Domestic Demand

TOKYO (dpa-AFX) - The Japan economy has been well-balanced by both external and domestic demand, Bank of Japan Governor Haruhiko Kuroda said Friday. The governor said the sustainability of the expansion is high. He noted that households are accepting price increases amid improvement in employment and income growth.If the increase in prices broaden, medium- and long-term inflation expectations will steadily rise, Kuroda said. He reiterated that inflation will accelerate toward its 2 percent inflation target. Further, Kuroda said the bank will continue to pursue its strong monetary easing to achieve price stability.Copyright RTT News/dpa-AFX
20.10.2017

Ireland's Wholesale Prices Continue To Fall In September

DUBLIN (dpa-AFX) - Ireland's wholesale prices continued to decline in September, the Central Statistics Office reported Friday.Wholesale prices fell 2.7 percent year-on-year in September after easing 2.4 percent in August. This was the fourth consecutive drop in prices. At the same time, monthly fall in wholesale prices came in at 0.5 percent versus 1.1 percent decrease in August. The price index for export sales dropped 0.6 percent on month, while the index for home sales increased 0.3 percent.Copyright RTT News/dpa-AFX
20.10.2017

UK Budget Deficit Narrows In September

LONDON (dpa-AFX) - The UK budget deficit declined in September, the Office for National Statistics said Friday. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September. This was the lowest September net borrowing since 2007.During April to September period, PSNB decreased by GBP 2.5 billion to GBP 32.5 billion, which was the lowest year-to-date net borrowing since 2007.The Office for Budget Responsibility forecast that public sector net borrowing will be GBP 58.3 billion during the financial year ending March 2018. Data showed that public sector net debt totaled GBP 1,785.3 billion at the end of September, equivalent to 87.2 percent of gross domestic product.Copyright RTT News/dpa-AFX
20.10.2017

Eurozone Current Account Surplus Rises In August

BRUSSELS (dpa-AFX) - The euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said Friday. The current account surplus rose to EUR 33.3 billion in August from EUR 31.5 billion in July. This was the highest since May 2016.The surplus on trade in goods increased to EUR 28.2 billion from EUR 26.5 billion in the previous month. Meanwhile, the surplus on services declined to EUR 7.2 billion from EUR 8.1 billion. Likewise, primary income fell to EUR 10.3 billion from EUR 11.7 billion a month ago.At the same time, secondary income showed a shortfall of EUR 12.4 billion versus EUR 14.8 billion in the previous month. On an unadjusted basis, the current account surplus fell to EUR 29.6 billion from EUR 37.1 billion in July.The 12-month cumulated current account for the period ending in August registered a surplus of EUR 338.5 billion, equivalent to 3.1 percent of euro area GDP.In the financial account, combined direct and portfolio investment recorded net acquisitions of assets of EUR 82 billion and net disposals of liabilities of EUR 7 billion.Copyright RTT News/dpa-AFX
20.10.2017

Dollar Trading Mixed As The Weekend Approaches

WASHINGTON (dpa-AFX) - The dollar is turning in a mixed performance Friday afternoon, rising against the Euro and the Japanese Yen, but losing ground against the British pound. Economic news was on the light side this morning, but the news was better than expected. Traders are also looking forward to a speech by Federal Reserve Chair Janet Yellen this evening. After reporting U.S. existing home sales at their lowest level in a year in the previous month, the National Association of Realtors released a report on Friday showing an unexpected rebound in existing home sales in the month of September.NAR said existing home sales climbed by 0.7 percent to an annual rate of 5.39 million in September from a rate of 5.35 million in August. Economists had expected existing home sales to see further downside and drop to a rate of 5.30 million.The dollar has climbed to around $1.1780 against the Euro Friday afternoon, from an early low of $1.1857.The euro area current account surplus rose to the highest level in more than a year in August, the European Central Bank said Friday. The current account surplus rose to EUR 33.3 billion in August from EUR 31.5 billion in July. This was the highest since May 2016.Germany's producer prices increased at the fastest pace in five months in September, data from Destatis showed Friday. Producer price inflation rose more-than-expected to 3.1 percent in September from 2.6 percent in August. This was the fastest increase since April, when prices advanced 3.4 percent. Economists had forecast a 2.9 percent rise for September.The buck has dropped to around $1.32 against the pound sterling Friday afternoon, from an early high of $1.3087.The UK budget posted the smallest budget deficit in a decade for the month of September, suggesting that the borrowing is on the course to undershoot the full-year target. Public sector net borrowing, excluding banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September, the Office for National Statistics said Friday. This was the lowest September net borrowing since 2007 and also below the expected level of GBP 6.5 billion.The greenback has broken out to over a 3-month high of Y113.525 against the Japanese Yen this afternoon, from an early low of Y112.602.Copyright RTT News/dpa-AFX
20.10.2017

Dollar Little Changed After U.S. Existing Home Sales

BRUSSELS (dpa-AFX) - Following the release of U.S. existing home sales for September at 10.00 am ET Friday, the greenback changed little against its major rivals.The greenback was worth 113.47 against the yen, 0.9836 against the franc, 1.1786 against the euro and 1.3164 against the pound around 10:02 am ET.Copyright RTT News/dpa-AFX
20.10.2017

Dollar Mixed Ahead Of U.S. Existing Home Sales

BRUSSELS (dpa-AFX) - The National Association of Realtors' Existing Home Sales for September will be issued at 10.00 am ET Friday. The economists are looking for consensus of 5.300 million, slightly down from 5.350 million in the previous month. Ahead of the data, the greenback traded mixed against its major rivals. While the greenback rose against the yen and the euro, it held steady against the franc and the pound.The greenback was worth 113.42 against the yen, 0.9827 against the franc, 1.1793 against the euro and 1.3166 against the pound as of 9:55 am ET.Copyright RTT News/dpa-AFX
20.10.2017

Canadian Dollar Falls As Retail Sales Drop Unexpectedly, Inflation Slows

CANBERA (dpa-AFX) - The Canadian dollar dropped against its key counterparts in the European session on Friday, after data showed that the nation's retail sales fell unexpectedly and consumer price inflation rose less than expected in September. Data from Statistics Canada showed that the inflation slowed to 0.2 percent on a seasonally adjusted monthly basis in September. Economists had expected the inflation to grow by 0.3 percent, following a 0.2 percent rise in August. Separate data from the same agency showed that Canadian retail sales declined 0.3 percent in August to $48.9 billion in September. Economists were calling for an increase of 0.5 percent. This follows a 0.4 percent rise in July. Core retail sales fell 0.7 percent month-on-month, after a 0.2 percent gain in August. The figure has been expected to rise by 0.3 percent.Crude oil futures fell as the dollar continued to steady versus major rivals.Upbeat US economic news and political turmoil in Spain have helped the dollar, putting a cap on commodities.Crude for December delivery slipped $0.43 to $51.09 per barrel.The loonie showed mixed performance in the Asian session. While the currency rose against the aussie and the yen, it held steady against the euro. Against the greenback, the currency declined.The loonie slipped to a 2-day low of 90.00 against the yen, after having advanced to 90.76 at 6:15 am ET. The loonie is likely to challenge support around the 89.00 region.The Bank of Japan Governor Haruhiko Kuroda said that the Japan economy has been well-balanced by both external and domestic demand. The governor said the sustainability of the expansion is high. The loonie weakened to 1.4853 against the euro, a level unseen since September 1. Continuation of the loonie's downtrend may see it challenging support around the 1.49 area.Data from the European Central Bank showed that the euro area current account surplus rose to the highest level in more than a year in August. The current account surplus rose to EUR 33.3 billion in August from EUR 31.5 billion in July. This was the highest since May 2016.The loonie hit a 3-day low of 1.2567 against the greenback, from a high of 1.2473 hit at 8:15 am ET. The next possible support for the loonie is seen around the 1.27 level.The loonie reversed from an early high of 0.9794 against the aussie, falling to 4-day low of 0.9860. If the loonie extends slide, 1.00 is possibly seen as its next support level.Looking ahead, U.S. existing home sales data for September is due in the New York session.Copyright RTT News/dpa-AFX
20.10.2017

Loonie Falls After Canada CPI, Retail Sales

CANBERA (dpa-AFX) - Following the release of Canada inflation for September and retail sales for August at 8:30 am ET Friday, the loonie slipped against its major rivals.The loonie was trading at 1.4824 against the euro, 90.19 against the yen, 1.2549 against the greenback and 0.9849 against the aussie around 8:32 am ET.Copyright RTT News/dpa-AFX
20.10.2017

Loonie Mixed Ahead Of Canada CPI, Retail Sales

CANBERA (dpa-AFX) - Statistics Canada will release Canada inflation for September and retail sales for August at 8:30 am ET Friday. Ahead of these reports, the loonie traded mixed against its major rivals. While the loonie rose against the greenback, it retreated from early highs against the rest of major counterparts.The loonie was worth 1.4763 against the euro, 90.61 against the yen, 1.2494 against the greenback and 0.9808 against the aussie as of 8:25 am ET.Copyright RTT News/dpa-AFX
20.10.2017

Pound Advances Amid Risk Appetite, May's Remarks

BRUSSELS (dpa-AFX) - The pound strengthened against its major counterparts in the European session on Friday, as European shares rose after a slew of upbeat earnings reports and on optimism about the prospects for U.S. tax reforms, while data showed the U.K. budget deficit narrowed to a 10-year low in September.The U.S. Senate adopted a $4 trillion fiscal 2018 budget resolution on Thursday, a step forward towards overhauling the U.S. tax code.Investors cheered U.K. PM Theresa May's remarks at the EU summit, where she sounded positive and optimistic about the Brexit negotiations.May said the government is ready to go through the financial contribution proposals 'line by line'.Data from the Office for National Statistics showed that the UK budget deficit declined in September. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September. This was the lowest September net borrowing since 2007.During April to September period, PSNB decreased by GBP 2.5 billion to GBP 32.5 billion, which was the lowest year-to-date net borrowing since 2007.The pound showed mixed performance in the Asian session. While the currency rose against the franc and the yen, it fell against the greenback and the euro.The pound edged up to 149.30 against the yen, off early low of 147.99. Continuation of the pound's uptrend may see it challenging resistance around the 151.00 level.The Bank of Japan Governor Haruhiko Kuroda said that the Japan economy has been well-balanced by both external and domestic demand. The governor said the sustainability of the expansion is high. Having fallen to an 11-day low of 1.3088 against the greenback at 1:20 am ET, the pound reversed direction and advanced to 1.3180. If the pound rises further, 1.33 is possibly seen as its next resistance level.The pound advanced to 1.2952 against the Swiss franc and 0.8955 against the euro, from its previous 8-day lows of 1.2828 and 0.9022, respectively. On the upside, 1.31 and 0.88 are likely seen as the next resistance levels for the pound against the franc and the euro,respectively.Looking ahead, Canada inflation for September and retail sales for August are set for release in the New York session.Copyright RTT News/dpa-AFX
20.10.2017

Pound Strengthens Against Majors

BRUSSELS (dpa-AFX) - The pound climbed against its major opponents in European deals on Friday.The pound edged up to 149.30 against the yen, off early low of 147.99.The pound climbed to 1.3166 against the dollar, 1.2931 against Swiss franc and 0.8969 against the euro, from an early 11-day low of 1.3088, 8-day lows of 1.2828 and 0.9022, respectively.The next possible resistance for the pound is seen around 151.00 against the yen, 1.31 against the franc, 0.88 against the euro and 1.33 against the dollar.Copyright RTT News/dpa-AFX
20.10.2017

Pound Mixed Following UK Public Sector Finance Data

BRUSSELS (dpa-AFX) - Following the release of UK public sector finance data for September at 4.30 am ET Friday, the pound traded mixed against its major rivals. While the pound rose against the greenback and the euro, it changed little against the yen and franc.The pound was trading at 1.3135 against the greenback, 148.99 against the yen, 1.2897 against the franc and 0.8985 against the euro around 4:36 am ET.Copyright RTT News/dpa-AFX
20.10.2017

Pound Mixed Ahead Of UK Public Sector Finance Data

BRUSSELS (dpa-AFX) - At 4.30 am ET Friday, UK public sector finance data is due. The budget deficit is forecast to widen to GBP 6.5 billion in September from GBP 5.7 billion in August.Ahead of the data, the pound traded mixed against its major rivals. While the pound rose against the yen and the euro, it held steady against the greenback and the franc.The pound was worth 1.3132 against the greenback, 148.92 against the yen, 1.2890 against the franc and 0.8987 against the euro as of 4:25 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