NEWS 

Real-time and near-time news

 

 

 

ANALYSIS

Stock analysis as news feed

 

 

VIDEO

Range of services

 

 

Newsticker

Companies
Economic News
Markets

WASHINGTON (dpa-AFX) - After ending the previous session mostly lower, stocks may see some further downside in early trading on Wednesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 116 points.

Concerns about the global economic outlook may continue to weigh on the markets, although trading activity is likely to be somewhat subdued ahead of the release of the minutes of the latest Federal Reserve meeting.

The Fed is due to release the minutes of its May 3-4 meeting at 2 pm ET. At the meeting, the central bank decided to raise interest rates by 50 basis points.

Traders are likely to look to the minutes for clues about how aggressively the Fed plans to raise interest rates at upcoming meetings.

CME Group's FedWatch Tool currently indicates a 93.3 percent chance the Fed will raise rates by another 50 basis points at its next meeting in mid-June.

On the U.S. economic front, a report released by the Commerce Department showed new orders for durable goods increased by less than expected in the month of April.

The Commerce Department said durable goods orders rose by 0.4 percent in April after climbing by a downwardly revised 0.6 percent in March.

Economists had expected durable goods orders to advance by 0.6 percent compared to the 1.1 percent jump that had been reported for the previous month.

Excluding orders for transportation equipment, durable goods orders edged up by 0.3 percent in April after surging by 1.1 percent in March. Ex-transportation orders were also expected to increase by 0.6 percent.

Stocks moved mostly lower during trading on Tuesday, giving back ground following the strong upward move seen in Monday's session. The tech-heavy Nasdaq showed a particularly steep drop on the day, ending the session at its lowest closing level since November of 2020.

The Nasdaq climbed off its worst levels of the day but still closed down 270.83 points or 2.4 percent at 11,264.45. The S&P 500 also slid 32.27 points or 0.8 percent to 3,941.48, while the narrower Dow managed to close modestly higher, up 48.38 points or 0.2 percent at 31,928.62.

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Wednesday. Japan's Nikkei 225 Index fell by 0.3 percent, while China's Shanghai Composite Index jumped by 1.2 percent.

The major European markets have also turned mixed on the day. While the German DAX Index is just below the unchanged line, the French CAC 40 Index is up by 0.1 percent and the U.K.'s FTSE 100 Index is up by 0.3 percent.

In commodities trading, crude oil futures are jumping $1.27 to $111.04 a barrel after falling $0.52 to $109.77 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $1,854.80, down $10.60 compared to the previous session's close of $1,865.40. On Tuesday, gold climbed $17.60.

On the currency front, the U.S. dollar is trading at 126.93 yen compared to the 126.83 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0659 compared to yesterday's $1.0736.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - The minutes of the latest Fed meeting and the report on durable goods orders might get special attention on Wednesday.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

Asian shares were mostly higher at the close of the day while European shares are broadly lower.

As of 7.45 am ET, the Dow futures were losing 139.00 points, the S&P 500 futures were down 17.75 points and the Nasdaq 100 futures were sliding 67.00 points.

The Nasdaq closed down 270.83 points or 2.4 percent at 11,264.45 on Tuesday. The S&P 500 also slid 32.27 points or 0.8 percent to 3,941.48, while the narrow Dow managed to close modestly higher, up 48.38 points or 0.2 percent at 31,928.62.

On the economic front, the Commerce Department's Durable Goods Orders for April will be published at 8.30 am ET. The consensus is an increase of 0.5 percent, while it was up 0.8 percent in the prior month.

The State Street Investor Confidence Index for May will be released at 10.00 am ET. In the prior month the index was at 92.9.

The Energy Information Administration or EIA's Petroleum Status Report for the week is scheduled at 10.30 am ET. In the prior week, the Crude Oil Inventories were down 3.4 million barrels, and the Gasoline Inventories were down 4.8 million barrels.

A two-year Treasury Note auction will be held at 11.30 am ET. Five-year Treasury Note Auction will be held at 1.00 pm ET.

The Federal Open Market Committee or FOMC minutes will be at 2.00 pm ET.

Asian stocks rose broadly on Wednesday. China's Shanghai Composite Index rallied 1.19 percent to settle at 3,107.46.

Hong Kong's Hang Seng Index gained 0.3 percent to finish at 20,171.27.

Japanese shares ended slightly lower on Wednesday. The Nikkei 225 Index slipped 0.3 percent to 26,677.80, while the broader Topix closed marginally lower at 1,876.58.

Australian markets finished higher. The benchmark S&P/ASX 200 Index rose 0.4 percent to 7,155.20, while the broader All Ordinaries Index closed 0.3 percent higher at 7,391.70.

European shares are trading mostly down. Among the major indexes in the region, the CAC 40 Index of France is sliding 22.41 points or 0.37 percent. The German DAX is losing 39.05 points or 0.22 percent, the U.K. FTSE 100 Index is gaining 14.52 points or 0.20 percent.

The Swiss Market Index is declining 6.54 points or 0.06 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.23 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded mixed on Wednesday, as investors assessed the outlook for Federal Reserve monetary tightening amid signs of softer U.S. growth.

Meanwhile, there were fears that the move by the U.S. Treasury Department to cut off Russia's ability to make payments on its dollar-denominated sovereign debt could push Russia closer to default.

The downside, if any, remained capped after a measure of German consumer sentiment edged up from an all-time low in May.

Market research group GfK said its forward-looking consumer sentiment index rose to -26.0 in June from a revised -26.6 in May. The latest survey was conducted from May 5 to 16.

Investors awaited the release of minutes from the Federal Reserve's most recent policy meeting for more clues about the pace of tightening.

The pan European Stoxx 600 inched up 0.2 percent to 432.35 after declining 1.1 percent on Tuesday.

The German DAX and France's CAC 40 were marginally lower, giving up early gains while the U.K.'s FTSE 100 was up half a percent, led by gains in the mining sector.

Stellantis declined 1.2 percent. The Dutch carmaker and Samsung SDI have agreed to invest more than $2.5 billion in a joint venture to establish an electric-vehicle battery manufacturing facility in Kokomo, Indiana.

German property specialist Aareal Bank AG slipped half a percent after announcing the successful public takeover offer by Atlantic BidCo GmbH.

TotalEnergies added nearly 2 percent after Global Infrastructure Partners formed a strategic partnership with the French oil and gas company to work in the U.S. renewable energy sector.

The FUCHS Group advanced 1.3 percent after an announcement that it has taken over 28 percent of the shares in E-Lyte Innovations GmbH.

Nordex slumped almost 20 percent after the wind turbine manufacturer revised down its outlook for this year, due in part to restructuring costs and the war in Ukraine.

Miners Anglo American and Glencore both rose around 2 percent after China's central bank and banking regulator urged lenders to boost loans in the latest effort to shore up the battered economy.

Commodities firm Glencore said today it has reached deals with authorities in the U.S., Britain and Brazil to resolve corruption allegations in return for penalties.

Power company SSE soared 5 percent after reporting a sharp rise in annual profit.

Supermarket technology group Ocado lost 4 percent after it cut the sales growth target for its joint venture with Marks & Spencer Group.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Wednesday as investors awaited the release of minutes from the Federal Reserve's most recent policy meeting for more clues about the pace of tightening.

The benchmark FTSE 100 edged up 22 points, or 0.3 percent, to 7,506 after declining 0.4 percent on Tuesday.

Basic materials and oil and gas stocks were gaining the most. Miners Anglo American and Glencore both rose around 2 percent, while oil & gas firm BP Plc added half a percent.

Commodities firm Glencore said today it has reached deals with authorities in the U.S., Britain and Brazil to resolve corruption allegations in return for penalties.

Power company SSE soared 5 percent after reporting a sharp rise in annual profit.

Supermarket technology group Ocado lost 4 percent after it cut the sales growth target for its joint venture with Marks & Spencer Group.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks advanced on Wednesday after falling sharply the previous day on concerns over slowing global growth and surging inflation.

The benchmark CAC 40 edged up 15 points, or 0.2 percent, to 6,268 after closing 1.7 percent lower in the previous session.

The British pound gained some ground against a weakening euro amid fears about the fragility of the U.K. economy.

U.S. Treasury yields fell ahead of the Federal Reserve's May meeting minutes due later in the day, while oil prices climbed amid tight supplies and expectations for firmer demand during the summer.

TotalEnergies added nearly 2 percent after Global Infrastructure Partners formed a strategic partnership with the French oil and gas company to work in the U.S. renewable energy sector.

Banks traded mostly higher, with Credit Agricole and Societe Generale both rising around 1 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were seeing modest gains on Wednesday after a measure of consumer sentiment edged up from an all-time low in May.

Market research group GfK said its forward-looking consumer sentiment index rose to -26.0 in June from a revised -26.6 in May. The latest survey was conducted from May 5 to 16.

The benchmark DAX rose 41 points, or 0.3 percent, to 13,960 after losing 1.8 percent the previous day.

The FUCHS Group added 1.5 percent after an announcement that it has taken over 28 percent of the shares in E-Lyte Innovations GmbH.

Nordex slumped nearly 18 percent after the wind turbine manufacturer revised down its outlook for this year, due in part to restructuring costs and the war in Ukraine.

Tech stocks fell, with Infineon Technologies down almost 3 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

CANBERA (dpa-AFX) - Asian stocks rose broadly on Wednesday after U.S. Treasury yields pulled back on the back of weak U.S. housing sales data and a profit warning by Snapchat-owner Snap Plc.

The dollar held steady ahead of the Federal Reserve's May meeting minutes due later in the day, while oil prices rose more than $1 per barrel to stay above $110.

The overall mood in equity markets remained largely cautious after China's capital Beijing further tightened its Covid-19 restrictions.

China's Shanghai Composite index rallied 1.19 percent to settle at 3,107.46 on hopes that growth will likely strengthen in the second half of 2022 in response to the stimulus that China has introduced into the economy.

China's central bank and banking regulator urged lenders to boost loans in the latest effort to shore up the battered economy. Hong Kong's Hang Seng index gained 0.29 percent to finish at 20,171.27.

Japanese shares ended slightly lower after Wall Street's tech rout overnight. The Nikkei average slid 0.26 percent to 26,677.80 while the broader Topix index closed marginally lower at 1,876.58. Dentsu, Rakuten, Shinsei Bank, Mitsubishi Motors and T&D Holdings led losses.

Seoul stocks eked out modest gains, with the Kospi average rising 0.44 percent to 2,617.22. Bio and chemical stocks advanced, while tech and automakers ended in the red.

Business conditions in South Korea deteriorated slightly in May, the Bank of Korea said earlier today with a Business Survey Index score of 86 - down from 87 in April.

Australian markets advanced, with heavyweight mining and financial stocks pacing the gainers. Tech stocks underperformed following Snap's profit warning. The benchmark S&P/ASX 200 rose 0.37 percent to 7,155.20 while the broader All Ordinaries index closed 0.25 percent higher at 7,391.70.

New Zealand shares ended notably lower after the country's central bank hiked interest rates by another 50 bps for a second straight meeting and signaled more aggressive hikes to curb the risk of inflation becoming persistent.

The benchmark NZX-50 index dropped 0.65 percent to 11,173.37. Medical device maker Fisher & Paykel Healthcare tumbled 3.9 percent after reporting a fall in annual revenue and net profit.

U.S. stocks ended mostly lower overnight on growth and earnings worries, as housing data disappointed and Snap warned of weaker than expected second quarter results, citing deteriorating macroeconomic trends.

The tech-heavy Nasdaq Composite fell 2.4 percent to end at its lowest closing level since November 2020 and the S&P 500 shed 0.8 percent to hover near bear market territory, while the Dow edged up 0.2 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening higher on Wednesday as investors await the minutes from the last Fed meeting later in the day for more clarity on the outlook for rates.

With plenty of economic data and surveys pointing to a slowdown, the Fed is facing a tough job of walking the tight rope between controlling the red-hot inflation and supporting growth.

While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, IMF first deputy managing director Gita Gopinath said in an interview on the sidelines of the World Economic Forum in the Swiss resort of Davos.

Asian markets traded mixed in cautious trade and oil prices climbed on the prospect of tight supplies, while gold slipped from two-week highs as the dollar index firmed after hitting its lowest level in a month in the previous session.

Revised quarterly national accounts and consumer confidence survey results from Germany as well as U.S. durable goods orders data are due later in the day.

U.S. stocks ended mostly lower overnight on growth and earnings worries, as housing data disappointed and Snap warned of weaker than expected second quarter results, citing deteriorating macroeconomic trends.

The tech-heavy Nasdaq Composite fell 2.4 percent to end at its lowest closing level since November 2020 and the S&P 500 shed 0.8 percent to hover near bear market territory, while the Dow edged up 0.2 percent.

European stocks fell on Tuesday, as a broad package of Chinese measures to support the economy underwhelmed investors and data showed U.S. and euro zone business activity slowed in May.

The pan European Stoxx 600 declined 1.1 percent. The German DAX lost 1.8 percent, France's CAC 40 index gave up 1.7 percent and the U.K.'s FTSE 100 dipped 0.4 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

CANBERA (dpa-AFX) - Asian stock markets are mostly higher on Wednesday, despite the mostly negative cues overnight from Wall Street, as traders cautiously await the release the US Fed's minutes from its latest monetary policy meeting later in the day, which may shed additional light on the outlook for interest rates. U.S. President Joe Biden's remarks that he might drop trade tariffs on China also resulted in improved risk sentiment. Asian Markets closed mostly lower on Tuesday.

The Australian stock market is notably higher on Wednesday, recouping the slight losses in the previous session, with the benchmark S&P/ASX 200 just below the 7,200 level, despite the mostly negative cues overnight from Wall Street, with gains in materials, financial and gold mining stocks offsetting weakness in technology stocks.

The benchmark S&P/ASX 200 Index is gaining 43.90 points or 0.62 percent to 7,172.70, after touching a high of 7,218.60 earlier. The broader All Ordinaries Index is up 36.00 points or 0.49 percent to 7,409.20. Australian stocks ended slightly lower on Tuesday.

Among major miners, OZ Minerals and Rio Tinto are gaining more than 1 percent each, while Fortescue Metals and Mineral Resources are edging up 0.5 percent each. BHP Group is plunging more than 9 percent as its shares are trading ex-dividend for its in-specie dividend later in the day. It will distribute new shares in the newly named Woodside Energy to shareholders.

Oil stocks are mostly higher. Woodside Petroleum is edging up 0.3 percent, Santos is adding almost 1 percent and Origin Energy is gaining more than 1 percent, while Beach energy is losing more than 1 percent.

In the tech space, WiseTech Global and Appen are losing almost 4 percent each, while Xero is declining more than 1 percent, Zip is down almost 2 percent and Afterpay owner Block is plunging almost 6 percent.

Among the big four banks, ANZ Banking is gaining almost 1 percent and Westpac is adding more than 1 percent, while Commonwealth Bank and National Australia Bank are advancing almost 2 percent each.

Among gold miners, Gold Road Resources is gaining more than 3 percent and Evolution Mining is advancing more than 4 percent, while Resolute Mining, Newcrest Mining and Northern Star Resources are adding more than 2 percent each.

In economic news, the value of construction work done in Australia was down a seasonally adjusted 0.9 percent on quarter in the first quarter of 2022, the Australian Bureau of Statistics said on Wednesday, coming in at A$55.663 billion. That missed expectations for an increase of 1.0 percent following the 0.4 percent contraction in the three months prior. It was up 1.4 percent on year.

In the currency market, the Aussie dollar is trading at $0.710 on Wednesday.

The Japanese stock market is slightly lower on Wednesday, extending the losses in the previous session, with the Nikkei 225 falling below the 26,700 level, following the mostly negative cues overnight from Wall Street, with technology stocks tumbling to mirror their peers on the tech-heavy Nasdaq.

The benchmark Nikkei 225 Index closed the morning session at 26,713.08, down 35.06 points or 0.13 percent, after hitting a low of 26,578.03 earlier. Japanese stocks closed significantly lower on Tuesday.

Market heavyweight SoftBank Group is losing more than 1 percent and Uniqlo operator Fast Retailing is down almost 1 percent. Among automakers, Honda is losing almost 2 percent and Toyota is edging down 0.2 percent.

In the tech space, Screen Holdings is flat. Advantest is edging down 0.1 percent, while Tokyo Electron is adding more than 1 percent.

In the banking sector, Mizuho Financial is flat. Sumitomo Mitsui Financial is edging up 0.5 percent, while Mitsubishi UFJ Financial is edging down 0.3 percent.

Among the major exporters, Sony, Mitsubishi Electric and Canon are edging down 0.4 percent each, while Panasonic is flat.

Among the other major losers, Mitsubishi Motors is losing more than 5 percent and Recruit Holdings is declining almost 5 percent, while Dentsu Group, T&D Holdings and Maruha Nichiro are slipping more than 4 percent each.

Conversely, Tokyo Electric Power is gaining almost 5 percent, while Toray Industries and Kansai Electric Power are adding almost 3 percent each.

In the currency market, the U.S. dollar is trading in the lower 127 yen-range on Wednesday.

Elsewhere in Asia, New Zealand, China, Hong Kong, South Korea and Taiwan are higher by between 0.2 and 0.6 percent each. Singapore, Malaysia and Indonesia are relatively flat.

On Wall Street, stocks moved mostly lower during trading on Tuesday, giving back ground following the strong upward move seen in the previous session. The tech-heavy Nasdaq showed a particularly steep drop on the day, ending the session at its lowest closing level since November of 2020.

The Nasdaq climbed off its worst levels of the day but still closed down 270.83 points or 2.4 percent at 11,264.45. The S&P 500 also slid 32.27 points or 0.8 percent to 3,941.48, while the narrow Dow managed to close modestly higher, up 48.38 points or 0.2 percent at 31,928.62.

The major European markets also moved to the downside on the day. While the U.K.'s FTSE 100 Index fell by 0.5 percent, the French CAC 40 Index and the German DAX Index tumbled by 1.7 percent and 1.8 percent, respectively.

Crude oil futures slipped on Tuesday on concerns about the outlook for energy demand due to China's increased Covid-19 curbs. Markets are also worried that aggressive monetary policy tightening by central banks to control inflation could tip the global economy into a recession. West Texas Intermediate Crude oil futures for July fell $0.52 or 0.5 percent at $109.77 a barrel.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

TOKYO (dpa-AFX) - The Japanese stock market is slightly lower on Wednesday, extending the losses in the previous session, with the Nikkei 225 falling below the 26,700 level, following the mostly negative cues overnight from Wall Street, with technology stocks tumbling to mirror their peers on the tech-heavy Nasdaq.

The benchmark Nikkei 225 Index is down 57.76 points or 0.22 percent at 26,690.38, after hitting a low of 26,578.03 earlier. Japanese stocks closed significantly lower on Tuesday.

Market heavyweight SoftBank Group is losing more than 1 percent and Uniqlo operator Fast Retailing is down almost 1 percent. Among automakers, Honda is losing almost 2 percent and Toyota is edging down 0.2 percent.

In the tech space, Screen Holdings is flat. Advantest is edging down 0.1 percent, while Tokyo Electron is adding more than 1 percent.

In the banking sector, Mizuho Financial is flat. Sumitomo Mitsui Financial is edging up 0.5 percent, while Mitsubishi UFJ Financial is edging down 0.3 percent.

Among the major exporters, Sony, Mitsubishi Electric and Canon are edging down 0.4 percent each, while Panasonic is flat.

Among the other major losers, Mitsubishi Motors is losing more than 5 percent and Recruit Holdings is declining almost 5 percent, while Dentsu Group, T&D Holdings and Maruha Nichiro are slipping more than 4 percent each.

Conversely, Tokyo Electric Power is gaining almost 5 percent, while Toray Industries and Kansai Electric Power are adding almost 3 percent each.

In the currency market, the U.S. dollar is trading in the higher 126 yen-range on Wednesday.

On Wall Street, stocks moved mostly lower during trading on Tuesday, giving back ground following the strong upward move seen in the previous session. The tech-heavy Nasdaq showed a particularly steep drop on the day, ending the session at its lowest closing level since November of 2020.

The Nasdaq climbed off its worst levels of the day but still closed down 270.83 points or 2.4 percent at 11,264.45. The S&P 500 also slid 32.27 points or 0.8 percent to 3,941.48, while the narrow Dow managed to close modestly higher, up 48.38 points or 0.2 percent at 31,928.62.

The major European markets also moved to the downside on the day. While the U.K.'s FTSE 100 Index fell by 0.5 percent, the French CAC 40 Index and the German DAX Index tumbled by 1.7 percent and 1.8 percent, respectively.

Crude oil futures slipped on Tuesday on concerns about the outlook for energy demand due to China's increased Covid-19 curbs. Markets are also worried that aggressive monetary policy tightening by central banks to control inflation could tip the global economy into a recession. West Texas Intermediate Crude oil futures for July fell $0.52 or 0.5 percent at $109.77 a barrel.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

LA DEFENSE (dpa-AFX) - TotalEnergies (TTA.L, TTFNF.PK - DELETED, TTE) announced agreements with Global Infrastructure Partners to acquire 50% of Clearway Energy Group. CEG is a developer of renewables projects and controls and owns 42% of economic interest of its listed subsidiary, Clearway Energy Inc.

Global Infrastructure Partners will receive $1.6 billion in cash and an interest of 50% minus one share in the TotalEnergies subsidiary that holds its 50.6% ownership in SunPower Corp. (SPWR). The deal takes into account valuations of $35.1 per share for Clearway Energy Inc. and $18 per share for SunPower.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - Sempra Energy's (SRE) subsidiary Sempra Infrastructure, said on Wednesday that it has inked a heads of agreement or HOA with RWE Supply & Trading, a subsidiary of German firm RWE AG, for the purchase of around 2.25 million tons per annum of LNG for 15 years.

Justin Bird, CEO of Sempra Infrastructure, said: '. With today's agreement, we make significant progress toward the development of our Port Arthur LNG project and remain committed to lowering greenhouse gas (GHG) emissions across the LNG value chain through the use of new technologies and the improvement of key processes.'

With this move, the LNG is to be supplied on a long-term, free-on-board basis from the Port Arthur LNG Phase 1 project under development in Jefferson County, Texas.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - Branded food company General Mills, Inc. (GIS) announced Wednesday that it has agreed to sell its Helper main meals and Suddenly Salad side dishes businesses to Eagle Family Foods Group, a portfolio company of Kelso & Co., in a cash transaction valued at approximately $610 million.

The proposed transaction is expected to close in the first quarter of fiscal 2023, subject to regulatory approval.

The transaction improves General Mills' North America Retail segment's growth profile and allows it to increase its focus on brands and categories where it has the best opportunities to drive profitable growth.

Net sales for the Helper and Suddenly Salad businesses totaled approximately $235 million in fiscal 2021.

The company expects the divestiture to be dilutive to its adjusted earnings per share in the range of approximately 10 to 11 cents in the first 12 months after closing, before factoring in any potential benefit from the use of proceeds from the sale.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

DUBLIN (dpa-AFX) - The following are some of the stocks making big moves in Wednesday's pre-market trading (as of 07.00 A.M. ET).

In the Green

The Wendy's Company (WEN) is up over 11% at $18.18

Newegg Commerce, Inc. (NEGG) Is up over 10% at $4.50

Dole plc (DOLE) is up over 9% at $10.90

BRC Inc. (BRCC) is up over 9% at $9.54

Nordstrom, Inc. (JWN) Is up over 8% at $22.54

Kyndryl Holdings, Inc. (KD) is up over 7% at $13.20

Velo3D, Inc. (VLD) is up over 7% at $2.32

Caleres, Inc. (CAL) is up over 6% at $22.25

Rite Aid Corporation (RAD) is up over 5% at $5.03

In the Red

Verrica Pharmaceuticals Inc. (VRCA) is down over 56% at $2.42

Comera Life Sciences Holdings, Inc. (CMRA) is down over 24% at $6.71

SciSparc Ltd. (SPRC) is down over 11% at $2.49

Axsome Therapeutics, Inc. (AXSM) is down over 6% at $24.45

Chinook Therapeutics, Inc. (KDNY) is down over 5% at $14.22

Toast, Inc. (TOST) is down over 5% at $13.59

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

LONDON (dpa-AFX) - Ocado Group (OCDO.L), a technology provider for retailers, Wednesday said its online grocery joint venture Ocado Retail is expected to post a decline in sales and EBITDA margin for 2022 than previously anticipated. The shares of Ocado Group were losing around 5 percent in London trading.

For the full year, Ocado Retail now expects its sales growth to be in the low single digits as against its previous guidance for around 10 percent sales growth. The revision reflects an impact of the rising cost of living crisis, with a further rise in utility prices anticipated in the autumn.

The retailer also projects a low single digit EBITDA margin for the year due to slower than expected sales growth and the impact of higher utility and fuel costs.

However, the company also noted that 'the EBITDA margin will recover towards a high mid-single digit level over time as it recovers the fixed costs of new capacity and when the impact of the current cost of living crisis begins to abate.'

In London, Ocado Group shares were trading at 730 pence, down 4.58 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - Video streaming giant Netflix Inc. announced the availability of a variety of mobile games. Players can download the games directly from the Netflix mobile app.

The new games include Dragon Up (East Side Games), Moonlighter (11 Bit Studios), Townsmen - A Kingdom Rebuilt (HandyGames), and Exploding Kittens - The Game (Exploding Kittens Digital).

Dragon Up, Moonlighter, and Townsmen - A Kingdom Rebuilt games are available from Tuesday at 10 am PT, while Exploding Kittens - The Game will be available on May 31.

Android mobile users can download any game from the dedicated games row and a games tab, while iOS mobile users can select any game from the games row to download.

Dragon Up, the colorful and beautifully animated idle adventure single-player game, is about hatching and collecting rare dragons, then helping them revive their magic. The player needs to save the kingdom by discovering each dragon's unique design, personality, and rewards.

Netflix noted that Dragon Up's flat, graphic style takes inspiration from Scandinavian Design and Illustration seen in early storybooks and fairy tales.

Further, Moonlighter, an RPG adventure, is the company's first game from Spain. In the action role-playing game, the gamer can step into the shoes of Will, a courageous shopkeeper, who secretly dreams of becoming a hero. By day, manage a shop in an idyllic village. By night, explore dungeons, slay monsters and unlock mysteries.

Townsmen - A Kingdom Rebuilt, the mobile version of the acclaimed strategy game, and Netflix's first game from Germany, is about running a kingdom. The gamer starts with a small village and build own way up to a massive medieval metropolis.

The last one, Exploding Kittens - The Game, is based on the popular Exploding Kittens card game, in which players draw cards aiming to avoid the exploding kitten. It is a single or multiplayer game from the hit tabletop game creator Exploding Kittens.

Netflix members will be able to play with two new exclusive cards, Radar and Flip Flop, enabling players to manipulate the deck in new ways.

The company added that future versions of Exploding Kittens - The Game will have an exclusive expansion pack of cards that will be themed around the Netflix series coming in 2023.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

LONDON (dpa-AFX) - Marks and Spencer Group plc (MAKSY.PK, MAKSF.PK, MKS.L) reported Group profit before tax and adjusting items of 522.9 million pounds for the 52 weeks ended 2 April 2022, up 29.7% from the 52 weeks to 28 March 2020. The Group noted that the impact of Covid in 2020/21 renders comparisons to the prior year less meaningful. The profit increase was driven by adjusted operating profit growth in Clothing & Home and Food and the additional profit from the Ocado joint venture, offset by a reduction in International and M&S Bank operating profits. Adjusted basic earnings per share was 21.7 pence compared to 16.7 pence.

Group profit before tax was 391.7 million pounds compared to, 67.2 million pounds in 2019/20. Basic earnings per share was 15.7 pence compared to 1.3 pence.

Group sales before adjusting items was 10.91 billion pounds for the period. Sales increased 7.1% versus 2019/20, driven by Food sales up 10.1%, Clothing & Home sales up 3.8% and International sales down 0.8%. Statutory revenue was 10.88 billion pounds, an increase of 6.9% from 2019/20.

The Group noted that it did not pay a dividend for 2020/21, and the Board has decided not to pay a dividend in the current year.

Marks and Spencer said overall trading in the first six weeks of the financial year has been ahead of the comparable periods in 2021/22, including the period from April 12, 2021. The Group expects the impact of declining real incomes to sharpen in the second half and endure for at least the remainder of the financial year.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

LONDON (dpa-AFX) - Taylor Wimpey plc (TW.L) said its trading remains in line with trends recently outlined at the Group's Annual General Meeting on 26 April 2022. Looking forward, the Group confirmed its financial targets comprising an: operating profit margin of 21-22%; and return on net operating assets of 30%. Taylor Wimpey noted that its dividend and capital allocation policy remains unchanged.

The Board's strategic focus for Taylor Wimpey will comprise four key cornerstones of value for the business going forward: land; operational excellence; sustainability; and capital allocation.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

LONDON (dpa-AFX) - Prudential plc (PRU.L, PUK) announced the appointment of Anil Wadhwani as CEO. He will assume the role on 25 February 2023. Wadhwani will join the company from Manulife where he was President & CEO, Manulife Asia. Mark FitzPatrick, Interim Group CEO, will continue to lead the business.

Prudential also announced that Nic Nicandrou, CEO, Asia and Africa will be leaving the Group. The Group noted that, with the announcement of the appointment of a permanent Group CEO, the role of CEO, Asia and Africa will cease.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WIESBADEN (dpa-AFX) - German property specialist Aareal Bank AG (AAALF.PK) announced Wednesday the successful public takeover offer by Atlantic BidCo GmbH as the minimum acceptance level of 60 percent was exceeded by the end of the acceptance period on May 24.

Atlantic BidCo will be the new majority owner of Aareal Bank, subject to regulatory approvals.

The company noted that statutory additional acceptance period is expected to start on May 31 and end on June 13. Shareholders who have not tendered their shares may still accept the offer during this period.

Atlantic BidCo is a bidder company comprising funds managed and advised by Advent International Corp. and Centerbridge Partners

According to the bidder, the result of the offer is expected to be announced on May 30.

Closing of the takeover offer is subject to regulatory approvals and is expected to take place in the fourth quarter of 2022 or in the first quarter of 2023.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Wednesday showed new orders for U.S. manufactured durable goods increased by less than expected in the month of April.

The Commerce Department said durable goods orders rose by 0.4 percent in April after climbing by a downwardly revised 0.6 percent in March.

Economists had expected durable goods orders to advance by 0.6 percent compared to the 1.1 percent jump that had been reported for the previous month.

Michael Pearce, Senior U.S. Economist at Capital Economics, said the modest increase in durable goods orders 'suggests that rate-sensitive business equipment investment growth is beginning to slow, with underlying capital goods shipments consistent with a sharp slowdown in business equipment investment growth from 15% in the first quarter to something closer to 6% annualized.'

'That is consistent with our view that economic activity is bending rather than breaking under the impact of higher rates,' he added.

The increase in durable goods orders was led by a rebound in orders for transportation, which climbed by 0.6 percent in April after dipping by 0.3 percent in March.

Orders for non-defense aircraft and parts soared by 4.3 percent in April following an 8.1 percent nosedive in the previous month.

Excluding orders for transportation equipment, durable goods orders edged up by 0.3 percent in April after surging by 1.1 percent in March. Ex-transportation orders were also expected to increase by 0.6 percent.

The report showed notable increases in orders for machinery and primary metals, while orders for fabricated metal products and electrical equipment, appliances and components edged lower.

Orders for non-defense capital goods excluding aircraft, a key indicator of business spending, rose by 0.3 percent in April after jumping by 1.1 percent in March.

Shipments in the same category, which is the source data for equipment investment in GDP, increased by 0.8 percent in April after inching up by 0.2 percent in the previous month.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

BERLIN (dpa-AFX) - Germany's economy logged a modest growth in the first quarter as the expansion in investment was partially offset by the contraction in exports and household spending, detailed data from Destatis showed on Wednesday.

Gross domestic product grew 0.2 percent sequentially in the first quarter, in contrast to the 0.3 percent decline seen a quarter ago.

Although mild, the expansion helped the economy to avoid a technical recession.

On a yearly basis, GDP advanced by a price-adjusted 4.0 percent, faster than the 1.8 percent growth registered in the fourth quarter.

The statistical office confirmed both quarterly and annual growth figures for the first quarter.

Compared with the fourth quarter of 2019, the quarter before the Covid-19 crisis began, GDP decreased 0.9 percent.

Amid rising prices, household consumption dropped 0.1 percent from the preceding quarter, when spending declined 1.3 percent. Government expenditure gained 0.1 percent, following a 0.2 percent rise.

Gross fixed capital formation registered an increase of 2.7 percent. Due to the mild weather in the first quarter, investment in construction advanced 4.6 percent despite the considerable price increases. At the same time, investment in machinery and equipment rose 2.5 percent.

Due to lower exports of automobiles in the face of continuing problems in international supply chains, overall shipments decreased 2.1 percent. Meanwhile, imports rose 0.9 percent. As a result, foreign trade had downward effect on GDP.

The war in Ukraine and the continuing Covid-19 pandemic have intensified existing distortions, including interruptions in supply chains and rising prices, President of the Federal Statistical Office Georg Thiel said.

'Despite difficult framework conditions in the global economy, the German economy started 2022 with a slight growth', Thiel added.

Macro data from Germany has not brought any relief and confirmed that the economy entered a mild contraction in the second quarter, ING economist Carsten Brzeski said.

The inventory build-up and weak consumption in the first quarter, as well as very weak consumer confidence, clearly dent the optimism currently sent by traditional leading indicators, the economist observed.

Elsewhere, survey results from the market research group GfK showed that consumer confidence is set to improve in June amid an easing in restrictions related to the coronavirus pandemic. The forward-looking consumer sentiment index rose to -26.0 for June from a revised -26.6 in May.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Wednesday showed new orders for U.S. manufactured durable goods increased by less than expected in the month of April.

The Commerce Department said durable goods orders rose by 0.4 percent in April after climbing by a downwardly revised 0.6 percent in March.

Economists had expected durable goods orders to advance by 0.6 percent compared to the 1.1 percent jump that had been reported for the previous month.

Excluding orders for transportation equipment, durable goods orders edged up by 0.3 percent in April after surging by 1.1 percent in March. Ex-transportation orders were also expected to increase by 0.6 percent.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

PARIS (dpa-AFX) - France's consumer confidence weakened unexpectedly in May, though less sharply than in the prior two months, survey results from the statistical office INSEE showed on Wednesday.

The consumer sentiment index dropped marginally to 86 in May from a revised reading of 87.0 in April. Economists had expected the index to improve to 89.

The index showed a decline for the fifth successive month and remained below its long-term average of 100.

Households' opinion on their own past financial situation worsened in May and also stood below its long-term average, with the index falling from -25 in April to -27.

Meanwhile, their view regarding financial expectations for the next twelve months showed no variation in May and the corresponding index remained steady for the second straight month at -22.

There was a slight increase in assessment regarding the opportunity to make major purchases in May, while the assessment on future savings capacity declined further.

The index measuring consumers' opinion on their own standard living in France for the next one year dropped to -64 in May from -59 in April.

However, households' fear about unemployment in the coming twelve months signaled a modest decline in May, with the corresponding index falling by four points and stood at 2.

The share of households who consider that prices have risen over the past twelve months increased in May and the respective index reached its highest level since the summer of 2008, by rising to 54 from 51.

At the same time, the share of survey respondents who believe that prices will accelerate over the coming year logged a marked decline in May, with the index decreased by 15 points from April to 9.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

Copyright RTT News/dpa-AFX

Copyright RTT News/dpa-AFX

Copyright RTT News/dpa-AFX

STOCKHOLM (dpa-AFX) - Sweden's jobless rate remained unchanged in April, figures from Statistics Sweden showed on Wednesday.

The jobless rate was 8.2 percent in April, same as seen in March. In the same month last year, the unemployment rate was 9.4 percent.

The number of unemployed persons increased to 458,000 in April from 453,600 in the previous month.

The youth unemployment rate, which is applied to the 15-24 age group, rose to 26.0 percent in April from 25.6 percent in the prior month.

The employment rate increased to 68.5 percent in April from 67.7 percent in March. The number of employed persons rose to 5.151 million from 5.091 million in the previous month.

On a seasonally adjusted basis, the unemployment rate was 7.6 percent in April.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

STOCKHOLM (dpa-AFX) - Sweden's producer prices rose at a softer pace in April, figures from Statistics Sweden showed on Wednesday.

The producer price index increased 23.8 percent year-on-year in April, after a 24.5 percent gain in March. In February, producer prices rose 19.3 percent.

Import prices increased 30.8 percent yearly in April and rose 0.8 percent from a month ago.

Export prices grew 25.1 percent annually in April and increased 1.6 percent from the previous month.

On a monthly basis, producer prices rose 1.2 percent in April.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

TOKYO (dpa-AFX) - Japan's leading index increased less than initially estimated, final data from the Cabinet Office showed on Wednesday.

The leading index, which measures the future economic activity, rose to 100.8 in March from 100.1 in February. In the initial estimate, the reading was 101.0.

The coincident index that measures the current economic situation, increased to 97.5 in March from 96.8 a month ago. According to the initial estimate, the reading was 97.0.

The lagging index was 95.4 in March versus 95.7 in the initial estimate. In February, the reading was 95.2.

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX

nach oben