dpa-AFX NEWSTICKER (product sample)

17.11.2017

Abercrombie & Fitch Q3 Results Beat Estimates; Shares Rise

WASHINGTON (dpa-AFX) - Apparel retailer Abercrombie & Fitch Co. (ANF) on Friday reported a 28 percent increase in profit for the third quarter from last year on higher sales. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates. The company's shares are gaining more than 20 percent in pre-market activity.Net income attributable to the company for the third quarter rose to $10.08 million or $0.15 per share from $7.88 million or $0.12 per share last year.The latest quarter's results include legal charges of $11.1 million and store asset impairment charges of $3.5 million.Excluding items, adjusted earnings for the quarter were $0.30 per share, compared to $0.02 per share last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.Net sales for the quarter grew 5 percent to $859.11 million from $821.7 million in the same period last year. Wall Street expected revenues of $818.9 million.Comparable sales for the quarter rose 4 percent and changes in foreign currency exchange rates benefited sales by 1 percent.By brand, third-quarter net sales decreased 2 percent to $351.0 million for Abercrombie and rose 10 percent to $508.1 million for Hollister over last year.Looking ahead to the fourth quarter, Abercrombie & Fitch expects comparable sales to be up low-single digits, and net sales to be up mid- to high-single digits.The company now expects capital expenditures for the full year to be approximately $110 million, up from the prior expectation of $100 million.In addition to the five stores opened year to date, including two outlet stores, Abercrombie & Fitch expects to open four new full-price stores in the fourth quarter. The company anticipates closing up to 60 stores in the U.S. by year-end through natural lease expirations, including 14 stores closed to date.Copyright RTT News/dpa-AFX
17.11.2017

JA Solar Agrees To Be Taken Private For Equity Value Of About $362.1 Mln

BEIJING (dpa-AFX) - JA Solar Holdings Co., Ltd. (JASO) said that it reached deal with JASO Holdings Limited or 'Holdco', JASO Parent Limited, a wholly owned subsidiary of Holdco, and JASO Acquisition Limited or 'Merger Sub', a wholly owned subsidiary of Parent, pursuant to which the Company will be acquired by an investor consortium in an all-cash transaction implying an equity value of the Company of approximately $362.1 million.As per the terms of the Merger Agreement, at the effective time of the merger, each ordinary share of the Company issued and outstanding immediately prior to the Effective Time will be cancelled and cease to exist in exchange for the right to receive $1.51 in cash without interest, and each American depositary share of the Company, representing 5 Shares, will be cancelled in exchange for the right to receive $7.55 in cash without interest, except for (a) Shares owned by Jinglong Group Co., Ltd., Chin Tien HUANG, Chi Fung WONG and Pak Wai WONG, which will be rolled over in the transaction, cancelled and cease to exist without any conversion thereof or consideration paid therefor, and (b) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands.The merger consideration represents a premium of 18.2% to the closing price of the Company's ADSs on June 5, 2017, the last trading day prior to the Company's announcement of its receipt of a revised 'going-private' proposal, and a premium of 17.2% to the average closing price of the Company's ADSs during the 3-month period prior to its receipt of a revised 'going-private' proposal.The Buyer Group comprises Mr. Baofang Jin, chairman and chief executive officer of the Company, Jinglong, a British Virgin Islands company of which Mr. Baofang Jin is the sole director, and/or its affiliates, and the other Rollover Shareholders.The Buyer Group intends to fund the merger with a combination of debt and equity. The Buyer Group has delivered an executed debt commitment letter to the Company pursuant to which CSI Finance Limited, Credit Suisse AG, Singapore Branch and certain other parties will provide, subject to the terms and conditions set forth therein, a loan facility to fund the merger in the amount of US$160 million.The Company's board of directors approved the Merger Agreement and the merger and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger Agreement and the merger.The merger, which is currently expected to close during the first quarter of 2018, is subject to customary closing conditions including the approval of the Merger Agreement by the affirmative vote of holders of Shares representing at least two-thirds of the voting power of the Shares present and voting in person or by proxy at a meeting of the Company's shareholders convened to consider the approval of the Merger Agreement and the merger. The Buyer Group and the Rollover Shareholders have agreed to vote all of the Shares and ADSs they beneficially own, which represent approximately 25.7% of the voting rights attached to the outstanding Shares as of the date of the Merger Agreement, in favor of the authorization and approval of the Merger Agreement and the merger. If completed, the merger will result in the Company becoming a privately-owned company and its ADSs will no longer be listed on the Nasdaq Global Select Market.Copyright RTT News/dpa-AFX
17.11.2017

Yum! Brands To Buy Back Up To $1.5 Bln Of Shares

LONDON (dpa-AFX) - Yum! Brands, Inc. (YUM) said that its Board authorized repurchases of up to $1.5 billion in shares of common stock through year end 2018. This is in addition to the prior outstanding authorization.Copyright RTT News/dpa-AFX
17.11.2017

Wells Fargo Dismisses Consumer Lending Head Franklin Codel

SAN FRANCISCO (dpa-AFX) - Wells Fargo & Co. (WFC) Friday announced that Franklin Codel, a senior executive vice president and head of its Consumer Lending organization, has been dismissed from the company, effective immediately. The company said the dismissal was the result of Codel's acting in a manner that was contrary to the company's policies and expectations, but unrelated to business or operations or performance or financial results. 'Difficult as this situation is, the decision reflects our commitment to our values and culture and to executive accountability,' said President and Chief Executive Officer Tim Sloan. 'We have a strong team in Consumer Lending and I am fully confident that the transition will be smooth and that its businesses will continue to operate normally in serving our customers.'The company plans to find a permanent successor to head Consumer Lending by the end of the year. For the interim period, the group's four main line of business will report to President and CEO Tim Sloan.Copyright RTT News/dpa-AFX
17.11.2017

Wells Fargo Dismisses Consumer Lending Head Franklin Codel

SAN FRANCISCO (dpa-AFX) - Wells Fargo & Co. (WFC) Friday announced that Franklin Codel, a senior executive vice president and head of its Consumer Lending organization, has been dismissed from the company, effective immediately. The company said the dismissal was the result of Codel's acting in a manner that was contrary to the company's policies and expectations, but related to business or operations or performance or financial results. 'Difficult as this situation is, the decision reflects our commitment to our values and culture and to executive accountability,' said President and Chief Executive Officer Tim Sloan. 'We have a strong team in Consumer Lending and I am fully confident that the transition will be smooth and that its businesses will continue to operate normally in serving our customers.'The company plans to find a permanent successor to head Consumer Lending by the end of the year. For the interim period, the group's four main line of business will report to President and CEO Tim Sloan.Copyright RTT News/dpa-AFX
17.11.2017

Abercrombie & Fitch Q3 Results Beat Estimates; Shares Rise

WASHINGTON (dpa-AFX) - Apparel retailer Abercrombie & Fitch Co. (ANF) on Friday reported a 28 percent increase in profit for the third quarter from last year on higher sales. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates. The company's shares are gaining more than 20 percent in pre-market activity.Net income attributable to the company for the third quarter rose to $10.08 million or $0.15 per share from $7.88 million or $0.12 per share last year.The latest quarter's results include legal charges of $11.1 million and store asset impairment charges of $3.5 million.Excluding items, adjusted earnings for the quarter were $0.30 per share, compared to $0.02 per share last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share for the quarter. Analysts' estimates typically exclude special items.Net sales for the quarter grew 5 percent to $859.11 million from $821.7 million in the same period last year. Wall Street expected revenues of $818.9 million.Comparable sales for the quarter rose 4 percent and changes in foreign currency exchange rates benefited sales by 1 percent.By brand, third-quarter net sales decreased 2 percent to $351.0 million for Abercrombie and rose 10 percent to $508.1 million for Hollister over last year.Looking ahead to the fourth quarter, Abercrombie & Fitch expects comparable sales to be up low-single digits, and net sales to be up mid- to high-single digits.The company now expects capital expenditures for the full year to be approximately $110 million, up from the prior expectation of $100 million.In addition to the five stores opened year to date, including two outlet stores, Abercrombie & Fitch expects to open four new full-price stores in the fourth quarter. The company anticipates closing up to 60 stores in the U.S. by year-end through natural lease expirations, including 14 stores closed to date.Copyright RTT News/dpa-AFX
17.11.2017

Abercrombie & Fitch Co. Bottom Line Rises 1365% In Q3

WASHINGTON (dpa-AFX) - Abercrombie & Fitch Co. (ANF) announced a profit for its third quarter that rose compared to the same period last year.The company said its bottom line climbed to $20.51 million, or $0.30 per share. This was up from $1.40 million, or $0.02 per share, in last year's third quarter.Analysts had expected the company to earn $0.22 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company said revenue for the quarter rose 4.5% to $859.11 million. This was up from $821.73 million last year.Abercrombie & Fitch Co. earnings at a glance:-Earnings (Q3): $20.51 Mln. vs. $1.40 Mln. last year.-Earnings Growth (Y-o-Y): 1365.0%-EPS (Q3): $0.30 vs. $0.02 last year.-EPS Growth (Y-o-Y): 1400%-Analysts Estimate: $0.22-Revenue (Q3): $859.11 Mln vs. $821.73 Mln last year.-Revenue Change (Y-o-Y): 4.5%Copyright RTT News/dpa-AFX
17.11.2017

Qualcomm Extends Offering Period For NXP Semiconductors To Dec. 15

SAN DIEGO (dpa-AFX) - Qualcomm Inc. (QCOM) announced that Qualcomm River Holdings, an indirect subsidiary of the company, has extended the offering period of its cash tender offer to purchase all of the outstanding common shares of NXP Semiconductors N.V. (NXPI). The tender offer is now scheduled to expire on December 15, 2017.As on November 16, 2017, 8,131,355 NXP common shares, representing approximately 2.4% of the outstanding NXP common shares, have been validly tendered pursuant to the tender offer and not properly withdrawn. Qualcomm said, while the parties continue to work to complete the transaction by the end of calendar 2017, the closing may occur in early 2018.Copyright RTT News/dpa-AFX
17.11.2017

Ossen Innovation Company Ltd. Q2 Income Climbs 300%

BEIJING (dpa-AFX) - Ossen Innovation Company Ltd. (OSN) released a profit for its second quarter that advanced compared to the same period last year.The company said its bottom line came in at $1.2 million, or $0.06 per share. This was higher than $0.3 million, or $0.02 per share, in last year's second quarter.The company said revenue for the quarter rose 112820412.8% to $26.4 million. This was up from $23.4 last year.Ossen Innovation Company Ltd. earnings at a glance:-Earnings (Q2): $1.2 Mln. vs. $0.3 Mln. last year.-Earnings Growth (Y-o-Y): 300%-EPS (Q2): $0.06 vs. $0.02 last year.-EPS Growth (Y-o-Y): 200%-Revenue (Q2): $26.4 Mln vs. $23.4 last year.-Revenue Change (Y-o-Y): 112820412.8%Copyright RTT News/dpa-AFX
17.11.2017

J.B. Hunt To Deploy Electric Tractors; Reserves Tesla Trucks

LOWELL (dpa-AFX) - J.B. Hunt Transport Services, Inc. (JBHT) announced it placed a reservation to purchase multiple Semi tractors to be manufactured by Tesla. The electric tractor was unveiled by Tesla on November 16.The company plans to deploy electric tractors to its Intermodal and Dedicated Contract Services divisions to support operations on the West Coast.Copyright RTT News/dpa-AFX
17.11.2017

The Swiss Stock Market Climbed On Novartis Strength

BRUSSELS (dpa-AFX) - The Swiss stock market ended Friday's session with a small increase, bucking the overall trend in Europe. The market ended the trading week with a small gain, after ending the previous week lower. Reports that Special Counsel Robert Mueller issued subpoenas to over a dozen top Trump campaign officials in mid-October, calling for documents and emails related to Russia left investors in a cautious mood at the end of the trading week. The Swiss Market Index increased by 0.40 percent Friday and finished at 9,183.61. The SMI ended the trading week with an overall gain of 0.5 percent. The Swiss Leader Index climbed by 0.19 percent Friday and the Swiss Performance Index added 0.32 percent. The solid performance by index heavyweight Novartis provided a boost to the overall market Friday. Novartis rose 1.1 percent, adding to its gains from the previous day. Roche and Nestlé also finished higher by 0.5 percent each. Sika advanced 1.0 percent, while Logitech and Zurich Insurance gained 0.8 percent each. Sonova was among the weakest performing stocks of the session, falling 1.2 percent. Kuehne + Nagel dropped 1.0 percent, Geberit fell 0.9 percent and SGS lost 0.8 percent. ABB decreased 0.6 percent, while Swiss Life and Schindler both surrendered 0.5 percent.Copyright RTT News/dpa-AFX
17.11.2017

European Markets Pulled Back On Euro Strength

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets fluctuated between small gains and losses during Friday's session, but ended the day in the red. Markets were under pressure as the Euro gained ground against the U.S. dollar following reports that Special Counsel Robert Mueller issued subpoenas to over a dozen top Trump campaign officials in mid-October, calling for documents and emails related to Russia.Eurozone's robust economic recovery is still supported by the massive monetary stimulus that would help inflation to return to target, European Central Bank President Mario Draghi said Friday.'A key motor of the recovery remains the very favourable financing conditions facing firms and households, which are in turn heavily contingent on our policy measures,' Draghi said in a speech in Frankfurt. 'An ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up and support headline inflation over the medium term.'The pan-European Stoxx Europe 600 index weakened by 0.30 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.48 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.15 percent.The DAX of Germany dropped 0.41 percent and the CAC 40 of France fell 0.32 percent. The FTSE 100 of the U.K. declined 0.08 percent, but the SMI of Switzerland finished higher by 0.40 percent.In Frankfurt, Deutsche Börse rallied 1.43 percent after it hired UniCredit's Germany chief as its new CEO.Fresenius dropped 5.34 percent after UBS downgraded its rating on the stock to 'Sell' from 'Neutral.'In Paris, transportation company Bollore advanced 3.59 percent and media group Vivendi added 4.39 percent after solid third-quarter results. Catering group Elior plunged 18.17 percent after a profit warning.In London, builder and outsourcing group Carillion tumbled 48.19 percent after another profit warning while Sky Plc shares jumped 4.1 percent on speculation of takeover interest.Kier Group rose 2.85 percent. The property services firm said it remains on course to deliver double digit profit growth in the current year and achieve Vision 2020 targets.United Utilities Group lost 4.37 percent after HSBC downgraded its rating on the stock to 'Hold' from 'Buy.'The euro area current account surplus rose to a record high in September, figures from the European Central Bank showed Friday. The seasonally adjusted current account surplus grew to EUR 37.8 billion in September from EUR 34.5 billion in August.Eurozone construction output increased for the first time in three months in September, though slightly, figures from Eurostat showed Friday. Construction output rose a seasonally adjusted 0.1 percent month-over-month in September, after remaining flat in August, which was revised from a 0.2 percent fall reported earlier.New residential construction in the U.S. jumped by much more than expected in the month of October, according to a report released by the Commerce Department on Friday. The report said housing starts spiked by 13.7 percent to an annual rate of 1.290 million in October from a revised 1.135 million in September.Economists had expected housing starts to climb to an annual rate of 1.185 million from the 1.127 million originally reported for the previous month.The Commerce Department said building permits, an indicator of future housing demand, also surged up by 5.9 percent to a rate of 1.297 million in October from a revised 1.225 million in September. Building permits had been expected to rise to a rate of 1.247 million from the 1.215 million originally reported for the previous month.Copyright RTT News/dpa-AFX
17.11.2017

European Shares Subdued As Draghi Speaks

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were subdued on Friday as the euro strengthened against the dollar and investors digested comments by ECB President Mario Draghi at the Frankfurt European Banking Congress.The pan-European Stoxx Europe 600 index was down 0.3 percent at 383.89 in late opening deals after rising 0.8 percent in the previous session.The German DAX was down 0.1 percent, France's CAC 40 index was declining 0.2 percent and the U.K.'s FTSE 100 was losing 0.3 percent. Deutsche Börse rallied 1.3 percent after it hired UniCredit's Germany chief as its new CEO.French transportation company Bollore advanced 2.3 percent and media group Vivendi added 1.4 percent after solid third-quarter results. Catering group Elior slumped 14 percent after a profit warning.Builder and outsourcing group Carillion tumbled 31 percent in London after another profit warning while Sky Plc shares jumped 3 percent on speculation of takeover interest.Kier Group shares rose 1.3 percent. The property services firm said it remains on course to deliver double digit profit growth in the current year and achieve Vision 2020 targets.Copyright RTT News/dpa-AFX
17.11.2017

FTSE 100 Slips Into Red As Carillion Warns On Profits

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks slipped into negative territory on Friday as builder and outsourcing group Carillion issued another profit warning, helping offset gains in Sky shares on speculation of takeover interest. Carillion shares slumped 31 percent while Sky Plc shares jumped 3 percent. The benchmark FTSE 100 was down 29 points or 0.39 percent at 7,358 in late opening deals after rising 0.2 percent on Thursday.Kier Group shares rose 1.3 percent. The property services firm said it remains on course to deliver double digit profit growth in the current year and achieve Vision 2020 targets.Copyright RTT News/dpa-AFX
17.11.2017

CAC 40 Subdued As Euro Rises

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French shares were subdued on Friday as the euro strengthened against the dollar and caution set in ahead of an upcoming speech by ECB President Mario Draghi.The benchmark CAC 40 was down 9 points or 0.17 percent at 5,327 in late opening deals after rising 0.7 percent in the previous session.Transportation company Bollore advanced 1.7 percent and media group Vivendi added 0.7 percent after solid third-quarter results. Catering group Elior slumped more than 13 percent after a profit warning.Copyright RTT News/dpa-AFX
17.11.2017

DAX Marginally Higher Ahead Of Draghi's Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German shares were marginally higher on Friday as the euro strengthened against the dollar and investors awaited an upcoming speech by ECB President Mario Draghi.The benchmark DAX was up 6 points at 13,052 in late opening deals after closing 0.6 percent higher the previous day.Deutsche Börse rallied 1.5 percent after it hired UniCredit's Germany chief as its new CEO.Copyright RTT News/dpa-AFX
17.11.2017

Asian Shares Follow Wall Street Higher

CANBERA (dpa-AFX) - Asian stocks extended gains to close broadly higher on Friday after U.S. House Republicans voted to approve the tax reform bill, a step forward on President Donald Trump's tax reform plan.The dollar weakened against the yen while oil held steady but was on track for its first weekly fall in six on supply worries.Chinese shares fell on worries over slowing growth. The benchmark Shanghai Composite dropped 0.48 percent to 3,382.91 and ended the week about 1.5 percent lower. Hong Kong's Hang Seng index was up 0.6 percent at 29,199 in late trade. Japanese shares extended gains from the previous session, although the yen's strength serviced to limit the upside. The Nikkei average gained 45.68 or 0.20 percent to finish at 22,396.80 while the broader Topix index closed 0.12 percent higher at 1,763.76. Rubber, metal and insurance stocks were among the prominent gainers.Australian shares rose modestly, led by financial and energy stocks. The benchmark S&P/ASX 200 rose 13.80 points or 0.23 percent to 5,957.30 while the broader All Ordinaries index ended 0.25 percent higher at 6,038.30.Banks ANZ, NAB and Westpac rose between 0.3 percent and 0.6 percent while energy stocks Origin Energy and Santos rose about 1 percent each. Mining giant BHP Billiton slid half a percent after saying it hopes to fully divest its U.S. shale business in the next two years.Online consumer electronics Kogan.com surged 12.6 percent after it reported a 36 percent surge in revenue for the four months ended October. Tabcorp Holdings jumped 4.8 percent after the Australian Competition Tribunal cleared the A$11 billion merger between the gaming giant and Tatts Group on the condition that Tabcorp will divest its Odyssey Gaming business in Queensland. Tatts Group shares advanced 2.3 percent. Seoul stocks edged lower despite foreign investors going on a buying spree. The benchmark Kospi closed marginally lower at 2,533.99, dragged down by automakers.New Zealand shares eked out modest gains, led higher by energy stocks such as Genesis Energy and Mercury New Zealand. Investors shrugged off survey figures from Business NZ showing that manufacturing activity dipped in October. The benchmark S&P/NZX 50 index inched up 27.28 points or 0.34 percent to finish at 8,061.98.Xero ended on a flat note after its chief executive and founder Rod Drury sold 3 million shares for $94.5 million in a placement to institutional and professional investors. Singapore's Straits Times index was up 1.2 percent after data showed the country's non-oil domestic exports grew at a faster-than-expected pace in October.Malaysia's KLSE Composite index was rising 0.2 percent. Malaysia's GDP grew an annual 6.2 percent in the third quarter, faster than the 5.8 percent increase seen in the second quarter, data from the Department of Statistics showed. India's Sensex was up more than 1 percent after Moody's Investors Service upgraded India's sovereign rating for the first time in 14 years and changed the rating outlook to 'stable' from 'positive' saying the economic and institutional reforms pushed through by the government will help stabilize debt.Overnight, U.S. stocks posted solid gains to snap a two-day losing streak after Wal-Mart and Cisco Systems reported strong quarterly results and the House voted to approve the Republican tax reform bill, although final passage of legislation remains less than a certainty.The Dow and the S&P 500 jumped around 0.8 percent while the tech-heavy Nasdaq Composite climbed 1.3 percent to reach a fresh record closing high.Copyright RTT News/dpa-AFX
17.11.2017

European Shares Seen Opening Mixed After Rally

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open on a mixed note on Friday as U.S. tax cuts move closer to passage. It is a 'big win', U.S. President Donald Trump tweeted after the GOP plan for tax reform overhaul cleared the House Thursday in a sweeping victory for the Republican leadership. The tax debate now moves to the Senate, which looks to pass its own tax reform bill and send a final version to the president's desk before the end of the year. Asian stock markets are broadly higher as strong U.S. earnings and optimism about U.S. tax reform helped brighten investor mood. Oil steadied after recent declines, but remained on track for its first weekly fall in six on supply worries. The dollar slipped against rivals in the wake of a Wall Street Journal report that special counsel Robert Mueller's investigators have issued a subpoena to President Trump's election campaign for documents related to Russia.On the economic front, investors await comments from ECB President Mario Draghi later in the day.Overnight, U.S. stocks posted solid gains to snap a two-day losing streak after Wal-Mart and Cisco Systems reported strong quarterly results and the House voted to approve the Republican tax reform bill.The Dow and the S&P 500 jumped around 0.8 percent while the tech-heavy Nasdaq Composite climbed 1.3 percent to reach a fresh record closing high. European markets also rose on Thursday to snap their longest losing streak since October 2016, with cyclicals leading the surge on the back of a weaker euro and solid earnings updates from the likes of Bouygues and British Land. The pan-European Stoxx Europe 600 index jumped 0.8 percent.The German DAX rose 0.6 percent, France's CAC 40 index gained 0.7 percent and the U.K.'s FTSE 100 added 0.2 percent.Copyright RTT News/dpa-AFX
17.11.2017

Asian Markets Rise As Risk Appetite Improves

CANBERA (dpa-AFX) - Asian stock markets are higher on Friday on improved risk appetite following the rebound on Wall Street overnight on upbeat corporate earnings results and as House Republicans voted to approve the tax reform bill. Crude oil prices firmed after declining overnight.The Australian market is advancing following the rebound on Wall Street. Banks and oil stocks are among the major gainers.In late-morning trades, the benchmark S&P/ASX 200 Index is adding 21.80 points or 0.37 percent to 5,965.30, off a high of 5,978.70 earlier. The broader All Ordinaries Index is up 22.30 points or 0.37 percent to 6,045.80. The big four banks are advancing. ANZ Banking, National Australia Bank, Westpac and Commonwealth Bank are higher in a range of 0.3 percent to 0.5 percent.Oil stocks are also mostly higher despite crude oil prices extending losses overnight. Oil Search is rising almost 1 percent and Santos is adding more than 1 percent, while and Woodside Petroleum is edging down less than 0.1 percent.In the mining space, BHP Billiton is declining 0.5 percent and Rio Tinto is down 0.4 percent, while Fortescue Metals is adding more than 1 percent.Gold miner Newcrest Mining is adding 0.6 percent, while Evolution Mining is losing almost 2 percent.Kogan.com reported a 36 percent surge in revenue for the four months ended October. The online consumer electronics and general merchandise retailer's shares are gaining almost 8 percent. The Australian Competition Tribunal has once again cleared the A$11 billion merger between gaming giants Tabcorp Holdings and Tatts Group on the condition that Tabcorp will divest its Odyssey Gaming business in Queensland. Shares of both companies are in a trading halt.On the economic front, Australia will release October numbers for new motor vehicle sales today. In the currency market, the Australian dollar is lower against the U.S. dollar on Friday. In early trades, the local unit was quoted at US$0.7588, up from US$0.7596 on Thursday.The Japanese market is notably higher, extending gains from the previous session as the overnight rebound on Wall Street lifted investor sentiment. Exporters' shares are also mostly advancing despite a stronger yen.In late-morning trades, the benchmark Nikkei 225 Index is rising 317.76 points or 1.42 percent to 22,668.88, off a high of 22757.40 earlier.Among the major exporters, Sony is rising more than 2 percent, Panasonic is advancing almost 2 percent, Mitsubishi Electric is rising more than 1 percent and Canon is adding almost 1 percent. SoftBank is rising 0.5 percent and Fast Retailing is adding more than 3 percent.In the banking sector, Mitsubishi UFJ Financial is adding more than 1 percent and Sumitomo Mitsui Financial is up 0.4 percent. Among automakers, Toyota is rising 0.2 percent and Honda is advancing almost 2 percent.In the oil space, Inpex is rising almost 1 percent and Japan Petroleum Exploration is adding 0.4 percent despite crude oil prices extending losses overnight.Among the market's best performers, Tokyo Dome Corp. is rising almost 9 percent, Nisshin Steel is higher by almost 5 percent and DeNA Co. is up almost 4 percent.On the flip side, Tokuyama Corp. and Dentsu are losing more than 1 percent each.In the currency market, the U.S. dollar is trading in the upper 112 yen-range on Friday.On Wall Street, stocks closed significantly higher on Thursday, partly reflecting a positive reaction to better than expected quarterly results from Wal-Mart and Cisco Systems. Stocks remained firmly positive after the House voted to approve the Republican tax reform bill, although final passage of legislation remains less than a certainty.The Dow climbed 187.08 points or 0.8 percent to 23,458.36, the Nasdaq jumped 87.08 points or 1.3 percent to 6,793.29 and the S&P 500 advanced 21.02 points or 0.8 percent to 2,585.64.The major European markets also moved to the upside on Thursday. While the U.K.'s FTSE 100 Index edged up by 0.2 percent, the German DAX Index and the French CAC 40 Index advanced by 0.6 percent and 0.7 percent, respectively.Crude oil futures continued to fall Thursday amid a flurry of U.S. economic data. December WTI oil declined $0.19 or 0.3 percent to settle at $55.14 a barrel on the New York Mercantile Exchange. In Asian trades Friday, crude oil added $0.16 or 0.29 percent to $55.30.Copyright RTT News/dpa-AFX
17.11.2017

Japanese Market Notably Higher

TOKYO (dpa-AFX) - The Japanese stock market is notably higher on Friday, extending gains from the previous session as the overnight rebound on Wall Street lifted investor sentiment. Exporters' shares are also mostly advancing despite a stronger yen.In late-morning trades, the benchmark Nikkei 225 Index is rising 317.76 points or 1.42 percent to 22,668.88, off a high of 22757.40 earlier.Among the major exporters, Sony is rising more than 2 percent, Panasonic is advancing almost 2 percent, Mitsubishi Electric is rising more than 1 percent and Canon is adding almost 1 percent. SoftBank is rising 0.5 percent and Fast Retailing is adding more than 3 percent.In the banking sector, Mitsubishi UFJ Financial is adding more than 1 percent and Sumitomo Mitsui Financial is up 0.4 percent. Among automakers, Toyota is rising 0.2 percent and Honda is advancing almost 2 percent.In the oil space, Inpex is rising almost 1 percent and Japan Petroleum Exploration is adding 0.4 percent despite crude oil prices extending losses overnight.Among the market's best performers, Tokyo Dome Corp. is rising almost 9 percent, Nisshin Steel is higher by almost 5 percent and DeNA Co. is up almost 4 percent.On the flip side, Tokuyama Corp. and Dentsu are losing more than 1 percent each. In the currency market, the U.S. dollar is trading in the upper 112 yen-range on Friday.On Wall Street, stocks closed significantly higher on Thursday, partly reflecting a positive reaction to better than expected quarterly results from Wal-Mart and Cisco Systems. Stocks remained firmly positive after the House voted to approve the Republican tax reform bill, although final passage of legislation remains less than a certainty.The Dow climbed 187.08 points or 0.8 percent to 23,458.36, the Nasdaq jumped 87.08 points or 1.3 percent to 6,793.29 and the S&P 500 advanced 21.02 points or 0.8 percent to 2,585.64.The major European markets also moved to the upside on Thursday. While the U.K.'s FTSE 100 Index edged up by 0.2 percent, the German DAX Index and the French CAC 40 Index advanced by 0.6 percent and 0.7 percent, respectively.Crude oil futures continued to fall Thursday amid a flurry of U.S. economic data. December WTI oil declined $0.19 or 0.3 percent to settle at $55.14 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
17.11.2017

U.S. Housing Starts Jump 13.7% In October, Much More Than Expected

WASHINGTON (dpa-AFX) - New residential construction in the U.S. jumped by much more than expected in the month of October, according to a report released by the Commerce Department on Friday.The report said housing starts spiked by 13.7 percent to an annual rate of 1.290 million in October from a revised 1.135 million in September.Economists had expected housing starts to climb to an annual rate of 1.185 million from the 1.127 million originally reported for the previous month.Despite the significant monthly increase, the Commerce Department said housing starts in October were down by 2.9 percent compared to the same month a year ago.The bigger than expected monthly increase in housing starts was partly due to a jump in multi-family starts, which soared by 36.8 percent to a rate of 413,000. Single-family starts also shot up by 5.3 percent to a rate of 877,000.The Commerce Department said building permits, an indicator of future housing demand, also surged up by 5.9 percent to a rate of 1.297 million in October from a revised 1.225 million in September.Building permits had been expected to rise to a rate of 1.247 million from the 1.215 million originally reported for the previous month.Multi-family permits jumped by 13.9 percent to a rate of 458,000, while single-family permits climbed by 1.9 percent to a rate of 839,000.Copyright RTT News/dpa-AFX
17.11.2017

U.S. Housing Starts Jump More Than Expected In October

WASHINGTON (dpa-AFX) - New residential construction in the U.S. jumped by much more than expected in the month of October, according to a report released by the Commerce Department on Friday.The report said housing starts spiked by 13.7 percent to an annual rate of 1.290 million in October from a revised 1.135 million in September.Economists had expected housing starts to climb to an annual rate of 1.185 million from the 1.127 million originally reported for the previous month.Building permits, an indicator of future housing demand, also surged up by 5.9 percent to a rate of 1.297 million in October from a revised 1.225 million in September.Copyright RTT News/dpa-AFX
17.11.2017

ECB's Draghi Says Eurozone Recovery Still Dependent On QE

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Eurozone's robust economic recovery is still supported by the massive monetary stimulus that would help inflation to return to target, European Central Bank President Mario Draghi said Friday.'A key motor of the recovery remains the very favourable financing conditions facing firms and households, which are in turn heavily contingent on our policy measures,' Draghi said in a speech in Frankfurt. 'An ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up and support headline inflation over the medium term.'Late October, the ECB said the size of its monthly asset purchases will be halved to EUR 30 billion at the start of next year, but they will continue for nine months.Draghi said the October decisions 'aim to signal our growing confidence in the euro area economy, while also acknowledging that we must be patient and persistent for inflation to return sustainably to our objective.'The bank opted the 'lower for longer' style of tapering for a second time this year and many hope this would be the beginning of the end of ultra-easy monetary policy since the 2007-08 global financial crisis.The ECB Chief said the extension of asset purchases helps to maintain the necessary degree of accommodation and thereby to accompany the economic recovery in an appropriate way.The bank's forward guidance suggest that it will keep interest rates low for the duration of its bond purchases and well beyond their lifespan. This is an attempt to anchor rate hike expectations during that time and after the end of asset purchases, Draghi said.'Asset purchases matter also for the signals they entail about the path of future policy rates: the so-called 'signalling effect', Draghi said.'The signalling effect of asset purchases has therefore naturally increased in prominence relative to the duration effect,' he added.Further, Draghi said this explains why the October decision to reduce the pace of purchases while extending the horizon 'left, on impact, financial conditions largely unchanged'.Draghi also reiterated that there was little evidence that the ECB's ultra-easy monetary policy was hurting bank profitability and cited that net interest income has remained quite stable over the past two years.Expressing concern over the lack of upward momentum in the underlying inflation in the euro area, Draghi said a key issue in this context was weaker wage growth.'With well-anchored inflation expectations, the effects of past low inflation in wage formation should not be persistent,' he said.'And as the labor market tightens and uncertainty falls, the relationship between slack and wage growth should begin reasserting itself. But we have to remain patient.'Copyright RTT News/dpa-AFX
17.11.2017

ECB's Draghi Says Eurozone Recovery Still Dependent On QE

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Eurozone's robust economic recovery is still supported by the massive monetary stimulus that would help inflation to return to target, European Central Bank President Mario Draghi said Friday.'A key motor of the recovery remains the very favourable financing conditions facing firms and households, which are in turn heavily contingent on our policy measures,' Draghi said in a speech in Frankfurt. 'An ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up and support headline inflation over the medium term.'Late October, the ECB said the size of its monthly asset purchases will be halved to EUR 30 billion at the start of next year, but they will continue for nine months.Draghi said the October decisions 'aim to signal our growing confidence in the euro area economy, while also acknowledging that we must be patient and persistent for inflation to return sustainably to our objective.'The bank opted the 'lower for longer' style of tapering for a second time this year and many hope this would be the beginning of the end of ultra-easy monetary policy since the 2007-08 global financial crisis.The ECB Chief said the extension of asset purchases helps to maintain the necessary degree of accommodation and thereby to accompany the economic recovery in an appropriate way.The bank's forward guidance suggest that it will keep interest rates low for the duration of its bond purchases and well beyond their lifespan. This is an attempt to anchor rate hike expectations during that time and after the end of asset purchases, Draghi said.'Asset purchases matter also for the signals they entail about the path of future policy rates: the so-called 'signalling effect', Draghi said.'The signalling effect of asset purchases has therefore naturally increased in prominence relative to the duration effect,' he added.Further, Draghi said this explains why the October decision to reduce the pace of purchases while extending the horizon 'left, on impact, financial conditions largely unchanged'.Draghi also reiterated that there was little evidence that the ECB's ultra-easy monetary policy was hurting bank profitability and cited that net interest income has remained quite stable over the past two years.Expressing concern over the lack of upward momentum in the underlying inflation in the euro area, Draghi said a key issue in this context was weaker wage growth.'With well-anchored inflation expectations, the effects of past low inflation in wage formation should not be persistent,' he said.'And as the labor market tightens and uncertainty falls, the relationship between slack and wage growth should begin reasserting itself. But we have to remain patient.'Copyright RTT News/dpa-AFX
17.11.2017

China Needs To Take Addl Steps To Address Imbalances In Housing Market

BEIJING (dpa-AFX) - China's government should take additional measures to address the fundamental imbalances in the residential housing market, a working paper by the International Monetary Fund staff and academics from the Tsinghua University said Thursday.'The government should expand its toolkit to include additional macroprudential measures and push forward reforms to address the fundamental imbalances in the residential housing market,' the working paper titled 'Assessing China's Residential Real Estate Market' published by the IMF, said.If house prices rise further beyond 'fundamental' levels and the bubble expands to smaller cities, it would increase the likelihood and costs of a sharp correction, the paper cautioned.Such a development would further weaken growth through slowing real estate investment and private consumption, and pressure financial stability.The central government and financial regulators can affect the housing market through financing conditions and macro-prudential tools for mortgage lending.The paper said the government should consider macro-prudential policies that have proven effective in containing housing market risks in other countries.Copyright RTT News/dpa-AFX
17.11.2017

Portugal PPI Inflation Remains Stable In October

LISBON (dpa-AFX) - Portugal's producer price inflation held steady in October, after accelerating in the previous two months, figures from Statistics Portugal showed Friday.Industrial producer prices climbed 2.7 percent year-over-year in October, the same rate of increase as in September. The measure has been rising since December 2016.Excluding the energy grouping, producer price inflation accelerated to 1.8 percent in October from 1.5 percent in the prior month.On a monthly basis, producer prices rose 0.4 percent from September, when it increased by 0.3 percent.Copyright RTT News/dpa-AFX
17.11.2017

Italy Current Account Surplus Grows In September

ROME (dpa-AFX) - Italy's current account surplus increased in September from a year ago, the Bank of Italy reported Friday.The current account surplus rose to EUR 4.3 billion in September from EUR 3.9 billion in the same month of 2016.The trade in goods showed a surplus of EUR 5.03 billion compared to EUR 4.3 billion last year. The surplus on services climbed from EUR 64 million to EUR 204 million.At the same time, primary income declined to EUR 549 million from EUR 871 million. On the other side, the deficit on secondary income widened to EUR 1.48 billion from EUR 1.38 billion.The capital account balance came in at a shortfall of EUR 218 million in September, down from EUR 354 million last year. Meanwhile, the financial account surplus shrank to EUR 6.39 billion from EUR 8.3 billion.In the twelve months to September, the current account surplus totaled EUR 46.8 billion, equivalent to 2.7 percent of GDP, compared to 43.8 billion in the corresponding period of 2016.Copyright RTT News/dpa-AFX
17.11.2017

Eurozone Construction Output Rises In September

BRUSSELS (dpa-AFX) - Eurozone construction output increased for the first time in three months in September, though slightly, figures from Eurostat showed Friday.Construction output rose a seasonally adjusted 0.1 percent month-over-month in September, after remaining flat in August, which was revised from a 0.2 percent fall reported earlier.Building activity grew 0.2 percent over the month, while civil engineering activity showed no variations.On a yearly basis, growth in construction production accelerated to 3.1 percent in September from 1.9 percent in August, revised up from 1.6 percent.In the EU28, construction output dropped 0.4 percent monthly in September, while it climbed 2.6 percent from a year ago. Among member countries, the highest monthly increases were seen in Slovenia and the Netherlands, while the largest decreases were noted in Romania, Hungary and Slovakia.Copyright RTT News/dpa-AFX
17.11.2017

ECB Chief Says Monetary Policy Not Harming Banks' Profitability

BRUSSELS (dpa-AFX) - There is little evidence that the monetary policy is currently doing harm to banks' profitability, European Central Bank President Mario Draghi said Friday. 'If there are any negative effects of low rates on net interest income in the future, they should be largely offset by the positive effects of monetary stimulus on the other main components of profitability, such as the quality of loans and therefore on loan-loss provisions,' he said in a speech in Frankfurt.Further, he said the currency bloc is in the midst of a solid economic expansion. 'From the ECB's perspective, we have increasing confidence that the recovery is robust and that this momentum will continue going forward,' he said.Ensuring price stability is a precondition for the economy to be able to grow along a balanced path that can be sustained in the long run, Draghi said. 'This is the guiding principle of all our monetary policy decisions.'Draghi said quantitative easing could be extended beyond September 2018, if necessary. An ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up and support inflation over the medium term, he noted.Copyright RTT News/dpa-AFX
17.11.2017

Eurozone Current Account Surplus At Record High

BRUSSELS (dpa-AFX) - The euro area current account surplus rose to a record high in September, figures from the European Central Bank showed Friday.The seasonally adjusted current account surplus grew to EUR 37.8 billion in September from EUR 34.5 billion in August.Moreover, this was the highest surplus since the formation of the currency bloc.The surplus on goods trade increased to EUR 35.2 billion from EUR 29.4 billion a month ago. The surplus on services rose slightly from EUR 7.2 billion to EUR 7.3 billion.However, primary income declined to EUR 9.7 billion from EUR 10.4 billion. On the other side, the deficit on secondary income widened to EUR 14.3 billion from EUR 12.4 billion.The 12-month cumulated current account for the period ending in September 2017 recorded a surplus of EU 346.4 billion, equivalent to 3.2 percent of euro area GDP, compared with EUR 359.3 billion or 3.4 percent of euro area GDP for the 12 months to September 2016.In September, combined direct and portfolio investment recorded net acquisitions of assets of EUR 52 billion and net disposals of liabilities of EUR 6.0 billion.Copyright RTT News/dpa-AFX
17.11.2017

Dollar Falling Despite Strong Housing Data

WASHINGTON (dpa-AFX) - The dollar is down against all of its major rivals Friday afternoon, due to reports that Special Counsel Robert Mueller issued subpoenas to over a dozen top Trump campaign officials in mid-October, calling for documents and emails related to Russia.It was a light day on the U.S. economic front, but the lone report that was released came in better than anticipated.New residential construction in the U.S. jumped by much more than expected in the month of October, according to a report released by the Commerce Department on Friday. The report said housing starts spiked by 13.7 percent to an annual rate of 1.290 million in October from a revised 1.135 million in September.Economists had expected housing starts to climb to an annual rate of 1.185 million from the 1.127 million originally reported for the previous month.The Commerce Department said building permits, an indicator of future housing demand, also surged up by 5.9 percent to a rate of 1.297 million in October from a revised 1.225 million in September. Building permits had been expected to rise to a rate of 1.247 million from the 1.215 million originally reported for the previous month.Eurozone's robust economic recovery is still supported by the massive monetary stimulus that would help inflation to return to target, European Central Bank President Mario Draghi said Friday.'A key motor of the recovery remains the very favourable financing conditions facing firms and households, which are in turn heavily contingent on our policy measures,' Draghi said in a speech in Frankfurt. 'An ample degree of monetary stimulus remains necessary for underlying inflation pressures to build up and support headline inflation over the medium term.'The dollar slipped to an early low of $1.1820 against the Euro Friday, but has since rebounded to around $1.1790.The euro area current account surplus rose to a record high in September, figures from the European Central Bank showed Friday. The seasonally adjusted current account surplus grew to EUR 37.8 billion in September from EUR 34.5 billion in August.Eurozone construction output increased for the first time in three months in September, though slightly, figures from Eurostat showed Friday. Construction output rose a seasonally adjusted 0.1 percent month-over-month in September, after remaining flat in August, which was revised from a 0.2 percent fall reported earlier.The buck dropped to a low of $1.3259 against the pound sterling Friday morning, but has since bounced back to around $1.3215.The greenback tumbled to a 1-month low of Y111.941 against the Japanese Yen Friday, but has since pared its losses slightly, now trading around Y112.150.Copyright RTT News/dpa-AFX
17.11.2017

Loonie Falls After Canada Inflation Data

CANBERA (dpa-AFX) - The Canadian dollar weakened against its major rivals in the European session on Friday, after a data showed that the nation's consumer price inflation was unchanged from last month in October.Data from Statistics Canada showed that the CPI rose 0.2 percent on a seasonally adjusted monthly basis, compared to forecasts for a 0.1 percent rise.The index was unchanged from last month.Core inflation, excluding food and energy, ticked up 0.2 percent on month in seasonally adjusted terms. The index was flat in September.Meanwhile, Crude oil futures rose as the U.S. dollar weakened on political upheaval related to the Trump Administration.Reports say investigators are demanding information from the Trump campaign for documents and emails related to Russia, a potential hurdle to the president's pro-growth economic agenda that includes major tax reforms.Crude for January delivery rose $0.66 to $56.01 per barrel.The loonie showed mixed performance in the Asian session. While the currency rose against the greenback and the aussie, it fell against the euro and the yen.The loonie retreated to 0.9649 against the aussie, after having advanced to a 1-1/2-year high of 0.9612 at 6:30 am ET. Continuation of the loonie's downtrend may see it challenging support around the 0.98 region.Data from the Australian Bureau of Statistics showed that Australia new motor vehicle sales were roughly flat in October, coming in at 98,922. That follows the 0.5 percent decline in September.The loonie weakened to a 10-day low of 1.2813 against the greenback, off its early 2-day high of 1.2714. Further weakness may take the loonie to a support around the 1.30 mark.Reversing from an early high of 88.71 against the yen, the loonie dropped to more than a 3-week low of 87.92. The next possible support for the loonie is seen around the 86.00 level.The loonie fell to a 2-day low of 1.5099 against the euro from its early high of 1.5007. The loonie is seen finding support around the 1.52 mark.Figures from the European Central Bank showed that the euro area current account surplus rose to a record high in September.The seasonally adjusted current account surplus grew to EUR 37.8 billion in September from EUR 34.5 billion in August.Copyright RTT News/dpa-AFX
17.11.2017

Dollar Mixed After U.S. Housing Starts

BRUSSELS (dpa-AFX) - Following the release of the U.S. housing starts for October at 8.30 am ET Friday, the greenback traded mixed against its major rivals. While the currency rose against the euro, it changed little against the rest of major rivals. The greenback was trading at 1.1786 against the euro, 112.63 against the yen, 1.3190 against the pound and 0.9920 against the franc around 8:33 am ET.Copyright RTT News/dpa-AFX
17.11.2017

Loonie Falls After Canada CPI

CANBERA (dpa-AFX) - Following the release of Canada consumer prices for October at 8:30 am ET Friday, the loonie fell against its major rivals. The loonie was trading at 1.5052 against the euro, 88.19 against the yen, 0.9636 against the aussie and 1.2772 against the greenback around 8:35 am ET.Copyright RTT News/dpa-AFX
17.11.2017

Dollar Steady Ahead Of U.S. Housing Starts

BRUSSELS (dpa-AFX) - The U.S. housing starts for October will be issued at 8.30 am ET Friday. The economists are looking for consensus of 1.190 million, while the prior month start level was 1.127 million. Ahead of the data, the greenback held steady against its major rivals. The greenback was worth 1.1795 against the euro, 112.60 against the yen, against the pound and 0.9916 against the franc as of 8:25 am ET.Copyright RTT News/dpa-AFX
17.11.2017

Loonie Steady Ahead Of Canada CPI

CANBERA (dpa-AFX) - Statistics Canada releases Canada consumer prices for October at 8:30 am ET Friday. The inflation is expected to slow 0.1 percent on month, from a 0.2 percent uptick in September. Ahead of the data, the loonie held steady against its major rivals. The loonie was worth 1.5047 against the euro, 88.25 against the yen, 0.9627 against the aussie and 1.2757 against the greenback as of 8:25 am ET.Copyright RTT News/dpa-AFX
17.11.2017

Australian, NZ Dollars Fall Amid Risk Aversion

CANBERA (dpa-AFX) - The Australian and NZ dollars slipped against their major counterparts in early European deals on Friday, as European shares dropped on disappointing earnings updates and investors digested comments by ECB President Mario Draghi at the Frankfurt European Banking Congress.The German DAX was down 0.1 percent, France's CAC 40 index was declining 0.2 percent and the U.K.'s FTSE 100 was losing 0.3 percent. Speaking in Frankfurt, the European Central Bank President Mario Draghi defended the bank's monetary policy, saying there is little evidence that the monetary policy is currently doing harm to banks' profitability. 'If there are any negative effects of low rates on net interest income in the future, they should be largely offset by the positive effects of monetary stimulus on the other main components of profitability, such as the quality of loans and therefore on loan-loss provisions,' he told.In the U.S., Special Counsel Robert Mueller issued subpoena to over a dozen top campaign officials in mid-October, calling for documents and emails related to Russia, the Wall Street Journal reported.Investors look ahead to U.S. housing starts data due for release later in the day for more direction.In economic front, data from Statistics New Zealand showed that NZ's output producer price index rose 1.0 percent on quarter in the third quarter of 2017.That followed the 1.3 percent increase in the previous three months.Both the aussie and the kiwi dropped against their major rivals in the Asian session.The kiwi weakened to a 1-1/2-year low of 0.6783 against the greenback, off its early 2-day high 0.6883. The next possible support for the kiwi is seen around the 0.66 region.The kiwi slipped to a 6-month low of 76.36 versus the yen, 3-day low of 1.1130 versus the aussie and more than a 2-year low of 1.7386 against the euro, from its early highs of 77.51, 1.1043 and 1.7166, respectively. If the kiwi extends decline, 75.00, 1.12 and 1.75 are likely seen as its next support levels against the yen, the aussie and the euro, respectively.Simultaneously, the aussie declined to a 1-1/2-year low of 1.5638 versus the euro, near 5-month lows of 0.7542 versus the greenback and 84.87 versus the yen, coming off from its early highs of 1.5504, 0.7608 and 85.85, respectively. The aussie may possibly challenge support around 0.73 against the greenback, 83.00 against the yen and 1.58 against the euro.The aussie hit 0.9617 against the loonie, its lowest since July 2016. Next key support for the aussie-loonie pair is seen around the 0.94 mark.Looking ahead, at 8:00 am ET, Deutsche Bundesbank President Jens Weidmann speaks at the Frankfurt European Banking Congress.In the New York session, Canada CPI, U.S. housing starts and building permits for October are due.Copyright RTT News/dpa-AFX
17.11.2017

Australian, NZ Dollars Drop Against Majors

CANBERA (dpa-AFX) - The Australian and NZ dollars slipped against their major counterparts in early European deals on Friday.The kiwi weakened to a 1-1/2-year low of 0.6783 against the greenback, off its early 2-day high 0.6883.The kiwi slipped to a 6-month low of 76.36 versus the yen, 3-day low of 1.1130 versus the Aussie and more than a 2-year low of 1.7386 against the euro, from its early highs of 77.51, 1.1043 and 1.7166, respectively.Simultaneously, the aussie declined to near 5-month lows of 0.7542 versus the greenback and 84.87 versus the yen and a 1-1/2-year low of 1.5638 versus the euro, coming off from its early highs of 0.7608, 85.85 and 1.5504, respectively.The aussie is likely to locate support around 0.66 against the greenback, 75.00 against the yen, 1.75 against the euro and 1.12 against the kiwi. The kiwi may possibly challenge support around 0.73 against the greenback, 83.00 against the yen and 1.58 against the euro.Copyright RTT News/dpa-AFX
17.11.2017

Swiss Franc Weakens Amid Risk Appetite

BRUSSELS (dpa-AFX) - The Swiss franc dropped against its major rivals in late Asian deals on Friday amid risk appetite, as strong U.S. earnings and House Republicans' approval of the tax reform bill reduced the demand for safe-haven assets.It is a 'big win', U.S. President Donald Trump tweeted after the GOP plan for tax reform overhaul cleared the House Thursday in a sweeping victory for the Republican leadership. The tax debate now moves to the Senate, which looks to pass its own tax reform bill and send a final version to the president's desk before the end of the year.Better than expected quarterly results from Wal-Mart and Cisco Systems also buoyed sentiment.The franc weakened on Thursday, as global stocks rose and investors awaited the House of Representatives' vote on the Republican tax reform legislation.The franc weakened to 1.1722 against the euro, its lowest since January 2015. The next possible support for the franc is seen around the 1.19 region.The franc fell back to 1.3138 against the pound, on track to pierce its early weekly low of 1.3142. Continuation of the franc's downtrend may see it challenging support around the 1.32 area.The franc dropped to 113.35 against the yen, its lowest since November 9. If the franc weakens further, 111.00 is likely seen as its next support level.The franc pared gains to 0.9930 against the greenback, from an early high of 0.9903. On the downside, 1.02 is possibly seen as the next support for the franc.Looking ahead, Eurozone current account and construction output for September are due in the European session.At 8:00 am ET, Deutsche Bundesbank President Jens Weidmann speaks at the Frankfurt European Banking Congress.In the New York session, Canada CPI, U.S. housing starts and building permits for October are due.Copyright RTT News/dpa-AFX
17.11.2017

Swiss Franc Weakens Against Majors

BRUSSELS (dpa-AFX) - The Swiss franc dropped against its major rivals in late Asian deals on Friday.The franc weakened to 1.1722 against the euro, its lowest since January 2015.The franc fell back to 1.3138 against the pound, on track to pierce its early weekly low of 1.3142.The franc dropped to 113.35 against the yen, its lowest since November 9.The franc pared gains to 0.9930 against the greenback, from an early high of 0.9903.If the franc falls further, it may locate support around 111.00 against the yen, 1.02 against the greenback, 1.32 against the pound and 1.19 against the euro.Copyright RTT News/dpa-AFX