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16.11.2018

PG&E Shares Surges After Regulator Signals No Bankruptcy Interest

WASHINGTON (dpa-AFX) - PG&E Corp. (PCG) shares soared 44 percent in after-hours trade on Thursday after Bloomberg reported that head of the California Public Utilities Commission said he can't imagine allowing the state's largest utility to go into bankruptcy as it faces billions of dollars in potential liability from deadly wildfires.'It's not good policy to have utilities unable to finance the services and infrastructure the state of California needs,' PUC President Michael Picker reportedly said in an interview. 'They have to have stability and economic support to get the dollars they need right now.'PG&E warned this week that if its equipment was to be the cause for wildfire in Northern California, the cost of the damage would exceed its insurance coverage.'While the cause of the Camp Fire is still under investigation, if the Utility's equipment is determined to be the cause, the Utility could be subject to significant liability in excess of insurance coverage that would be expected to have a material impact on PG&E Corporation's and the Utility's financial condition, results of operations, liquidity, and cash flows,' the company said in a SEC filing.PCG closed regular trading at $17.74, down $7.85 or 30.68 percent. But, in the after-hours trade, the stock gained $7.87 or 44.36 percent.Copyright RTT News/dpa-AFX
16.11.2018

Vivendi Q3 Revenues Up 5.5%

PARIS (dpa-AFX) - Vivendi SA (VIV.L, VIVEF.PK) reported that its revenues for third quarter of 2018 rose 5.5 percent to 3.384 billion euros from last year's 3.207 billion euros, while it was up 5.6% at constant currency and perimeter.For the third quarter of 2018, Universal Music Group's (UMG) revenues amounted to 1.495 billion euros, up 13.5% at constant currency and perimeter compared to the third quarter of 2017. It was up 13.3% on an actual basis.For the third quarter of 2018, Canal+ Group's revenues amounted to 1.247 billion euros, almost stable compared to the same period of 2017. It was down 0.2% at constant currency and perimeter.Vivendi said, 'Following the preliminary work carried out by the Management Board, about fifteen banks were chosen for the bank selection process. The banks could help Vivendi identify one or more strategic partners for its subsidiary Universal Music Group.'Vivendi said it will hold working sessions with these banks before the end of fall to determine their qualifications and discuss the potential terms of engagement and fees.Vivendi noted that it entered into a share purchase agreement with Grupo Planeta for 100% of the share capital of Editis, the second largest French publishing group, following the exclusive negotiations that began on July 30. The enterprise value retained is 900 million euros.Editis encompasses around fifty publishing houses (e.g., Nathan, Bordas, Robert Laffont, Presses de la Citť, Julliard, XO, Plon, Perrin, Pocket, Belfond or Le Cherche Midi) and many successful authors (e.g., Marc Levy, Michel Bussi or RaphaŽlle Giordano). In 2017, Editis recorded revenues of approximately 750 million euros and a recurring EBIT of approximately 60 million euros.The transaction must now be authorized by the French Competition Authority. The closing of the transaction is expected in late 2018 or early 2019.Copyright RTT News/dpa-AFX
16.11.2018

QURE In The Pink, ARNA Heartens Investors, ELOX Up Over 40% This Month

WASHINGTON (dpa-AFX) - The following are some of today's top gainers in the pharma/biotech sector.1. uniQure N.V. (QURE)Gained 35.66% to close Thursday's (Nov.15) trading at $30.93.News: The Company announced promising results from its phase IIb dose-confirmation study of AMT-061, an investigational gene therapy, for the treatment of patients with severe and moderately severe hemophilia B.Individuals with hemophilia B have insufficient levels of a blood protein called Factor IX. The study enrolled three patients with severe hemophilia, and they received a single intravenous infusion of AMT-061. The data reported today shows that therapeutic levels of Factor IX (FIX) activity have been achieved and sustained in all three patients at six weeks after a single administration of AMT-061.Patients in the study will be followed for 52 weeks to assess FIX activity, bleeding rates and usage of FIX replacement therapy, and will be monitored for five years to evaluate the safety of AMT-061, according to the Company.2. Translate Bio Inc. (TBIO)Gained 24.03% to close Thursday's trading at $7.33.News: No newsAnticipated Milestones:-- Initiate multiple-ascending dose portion of a phase I/II clinical of MRT5005 for cystic fibrosis by year end 2018.-- Initiate phase I/II clinical trial of MRT5201 in ornithine transcarbamylase (OTC) deficiency in the first half of 2019.-- Identify lead preclinical candidates for additional lung and liver disease targets.3. Arena Pharmaceuticals Inc. (ARNA)Gained 21.62% to close Thursday's trading at $39.55.News: Arena Pharma and United Therapeutics Corp.(UTHR) have entered into a global license agreement for Arena's phase III drug candidate, Ralinepag, in development for the treatment of pulmonary arterial hypertension (PAH).The agreement entitles Arena to receive $800 million upfront, low double-digit tiered royalties, plus up to $400 million in milestone payments. United Therapeutics will receive exclusive, worldwide rights to Ralinepag.4. Onconova Therapeutics Inc. (ONTX)Gained 14.86% to close Thursday's trading at $4.25. A one-for-fifteen reverse stock split of its common stock was implemented on September 26, 2018.News: No newsPipeline & Near-term Catalysts:-- A phase III pivotal trial with intravenous Rigosertib for high-risk second-line patients with Myelodysplastic Syndromes, dubbed INSPIRE, is underway. Top-line data from this study is expected in the second half of 2019.-- Updated efficacy and safety data from phase II combination trial of oral Rigosertib with injectable Azacitidine is scheduled for presentation at the upcoming 60th American Society of Hematology meeting on December 1, 2018.5. Eloxx Pharmaceuticals Inc. (ELOX)Gained 13.42% to close Thursday's trading at $16.99.News: No newsNear-term Catalysts:-- Report top line data from phase II clinical trial ELX-02 in cystic fibrosis in 2019.-- Report top line data from phase II clinical trial ELX-02 in cystinosis in 2019.Related ReadingIn The Spotlight: Eloxx PharmaCopyright RTT News/dpa-AFX
16.11.2018

QURE In The Pink, ARNA Heartens Investors, ELOX Up Over 40% This Month

WASHINGTON (dpa-AFX) - The following are some of today's top gainers in the pharma/biotech sector.1. uniQure N.V. (QURE)Gained 35.66% to close Thursday's (Nov.15) trading at $30.93.News: The Company announced promising results from its phase IIb dose-confirmation study of AMT-061, an investigational gene therapy, for the treatment of patients with severe and moderately severe hemophilia B.Individuals with hemophilia B have insufficient levels of a blood protein called Factor IX. The study enrolled three patients with severe hemophilia, and they received a single intravenous infusion of AMT-061. The data reported today shows that therapeutic levels of Factor IX (FIX) activity have been achieved and sustained in all three patients at six weeks after a single administration of AMT-061.Patients in the study will be followed for 52 weeks to assess FIX activity, bleeding rates and usage of FIX replacement therapy, and will be monitored for five years to evaluate the safety of AMT-061, according to the Company.2. Translate Bio Inc. (TBIO)Gained 24.03% to close Thursday's trading at $7.33.News: No newsAnticipated Milestones:-- Initiate multiple-ascending dose portion of a phase I/II clinical of MRT5005 for cystic fibrosis by year end 2018.-- Initiate phase I/II clinical trial of MRT5201 in ornithine transcarbamylase (OTC) deficiency in the first half of 2019.-- Identify lead preclinical candidates for additional lung and liver disease targets.3. Arena Pharmaceuticals Inc. (ARNA)Gained 21.62% to close Thursday's trading at $39.55.News: Arena Pharma and United Therapeutics Corp.(UTHR) have entered into a global license agreement for Arena's phase III drug candidate, Ralinepag, in development for the treatment of pulmonary arterial hypertension (PAH).The agreement entitles Arena to receive $800 million upfront, low double-digit tiered royalties, plus up to $400 million in milestone payments. United Therapeutics will receive exclusive, worldwide rights to Ralinepag.4. Onconova Therapeutics Inc. (ONTX)Gained 14.86% to close Thursday's trading at $4.25. A one-for-fifteen reverse stock split of its common stock was implemented on September 26, 2018.News: No newsPipeline & Near-term Catalysts:-- A phase III pivotal trial with intravenous Rigosertib for high-risk second-line patients with Myelodysplastic Syndromes, dubbed INSPIRE, is underway. Top-line data from this study is expected in the second half of 2019.-- Updated efficacy and safety data from phase II combination trial of oral Rigosertib with injectable Azacitidine is scheduled for presentation at the upcoming 60th American Society of Hematology meeting on December 1, 2018.5. Eloxx Pharmaceuticals Inc. (ELOX)Gained 13.42% to close Thursday's trading at $16.99.News: No newsNear-term Catalysts:-- Report top line data from phase II clinical trial ELX-02 in cystic fibrosis in 2019.-- Report top line data from phase II clinical trial ELX-02 in cystinosis in 2019.Related ReadingIn The Spotlight: Eloxx PharmaCopyright RTT News/dpa-AFX
15.11.2018

Nordstrom Shares Down 10% On Weak Outlook

WASHINGTON (dpa-AFX) - Shares of Nordstrom Inc. (JWN) slipped 10 percent in extended hours on Thursday after the department store chain's full-year revenue outlook fell short of Street estimates.Seattle-based Nordstrom's third-quarter profit dropped to $67 million or $0.39 per share from $114 million or $0.67 per share last year.Excluding an after-tax impact of $49 million for the estimated credit-related charge, earnings were relatively flat. Analysts polled by Thomson Reuters expected earnings of $0.66 per share. Analysts' estimates typically exclude special items.Revenues for the quarter grew 3% to $3.65 billion from $3.54 billion last year. Analysts had a consensus revenue estimate of $3.69 billion. Comparable sales for the quarter increased 2.3 percent.Looking forward to the full year, Nordstrom now expects earnings of $3.55 to $3.65 per share, up from prior forecast of $3.50 to $3.65 per share. Revenues are now expected to be $15.5 billion to $15.6 billion, up from previous outlook of $15.4 billion to $15.5 billion. Analysts currently estimate earnings of $3.60 per share and revenues of $15.91 billion.JWN closed Thursday's trading at $58.99, down $2.11 or 3.45%, on the NYSE. The stock further slipped $5.88 or 9.97% in the after hours trade.Copyright RTT News/dpa-AFX
15.11.2018

Sanmina Corporation Q4 adjusted earnings of $0.60 per share

WASHINGTON (dpa-AFX) - Sanmina Corporation (SANM) revealed a profit for fourth quarter that decreased from last year.The company's earnings totaled $0.78 million, or $0.01 per share. This compares with $25.85 million, or $0.33 per share, in last year's fourth quarter.Excluding items, Sanmina Corporation reported adjusted earnings of $42.55 million or $0.60 per share for the period. The company's revenue for the quarter rose 7.4% to $1.88 billion from $1.75 billion last year.Sanmina Corporation earnings at a glance:-Earnings (Q4): $42.55 Mln. vs. $49.77 Mln. last year.-EPS (Q4): $0.60 vs. $0.64 last year.-Revenue (Q4): $1.88 Bln vs. $1.75 Bln last year.Copyright RTT News/dpa-AFX
15.11.2018

Nvidia Q3 Revenue Miss, Outlook Weak; Shares Down 16%

SANTA CLARA (dpa-AFX) - Shares of Nvidia Corp. (NVDA) plunged 16% in extended session on Thursday after chip designer's third-quarter revenues and fourth quarter outlook fell short of Wall Street estimates.Santa Clara, California-based Nvidia's third-quarter profit surged to $1.23 billion or $1.97 per share from $838 million or $1.33 per share last year.Adjusted earnings for the quarter increased to $1.15 billion or $1.84 per share from $833 million or $1.33 per share last year. On average, 20 analysts estimated earnings of $1.71 per share for the quarter.Nvidia's revenues for the quarter jumped 21 percent to $3.18 billion from $2.64 billion last year. Analysts had a consensus revenue estimate of $3.24 billion for the quarter.Nvidia's gross margin for the quarter improved to 60.4 percent from 59.5 percent last year.Looking forward to the fourth quarter, the company expects revenues of $2.70 billion, plus or minus two percent. Analysts currently estimate revenues of $3.40 billion for the quarter.NVDA closed Thursday's trading at $202.39, up $5.20 or 2.64%, on the Nasdaq. The stock, however, slipped $32.12 or 15.87% in the after-hours trade.Copyright RTT News/dpa-AFX
15.11.2018

NVIDIA Corporation Q3 adjusted earnings Beat Estimates

SANTA CLARA (dpa-AFX) - NVIDIA Corporation (NVDA) revealed earnings for its third quarter that advanced from the same period last year.The company's bottom line totaled $1.23 billion, or $1.97 per share. This compares with $0.84 billion, or $1.33 per share, in last year's third quarter.Excluding items, NVIDIA Corporation reported adjusted earnings of $1.15 billion or $1.84 per share for the period. Analysts had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 20.5% to $3.18 billion from $2.64 billion last year.NVIDIA Corporation earnings at a glance:-Earnings (Q3): $1.15 Bln. vs. $0.83 Bln. last year.-EPS (Q3): $1.84 vs. $1.33 last year.-Analysts Estimate: $1.71-Revenue (Q3): $3.18 Bln vs. $2.64 Bln last year.Copyright RTT News/dpa-AFX
15.11.2018

Nordstrom Inc. Earnings Drop In Q3

WASHINGTON (dpa-AFX) - Nordstrom Inc. (JWN) announced a profit for third quarter that decreased from the same period last year.The company's earnings totaled $67 million, or $0.39 per share. This compares with $114 million, or $0.67 per share, in last year's third quarter.Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 3.3% to $3.75 billion from $3.63 billion last year.Nordstrom Inc. earnings at a glance:-Earnings (Q3): $67 Mln. vs. $114 Mln. last year.-EPS (Q3): $0.39 vs. $0.67 last year.-Analysts Estimate: $0.66-Revenue (Q3): $3.75 Bln vs. $3.63 Bln last year. -Guidance:Full year EPS guidance: $3.55 - $3.65Full year revenue guidance: $15.5 - $15.6 BlnCopyright RTT News/dpa-AFX
15.11.2018

Applied Materials Inc. Q4 adjusted earnings Inline With Estimates

SANTA CLARA (dpa-AFX) - Applied Materials Inc. (AMAT) reported a profit for fourth quarter that declined from the same period last year.The company's earnings came in at $876 million, or $0.89 per share. This compares with $982 million, or $0.91 per share, in last year's fourth quarter.Excluding items, Applied Materials Inc. reported adjusted earnings of $956 million or $0.97 per share for the period. Analysts had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 1.0% to $4.01 billion from $3.97 billion last year.Applied Materials Inc. earnings at a glance:-Earnings (Q4): $956 Mln. vs. $1005 Mln. last year.-EPS (Q4): $0.97 vs. $0.93 last year.-Analysts Estimate: $0.97-Revenue (Q4): $4.01 Bln vs. $3.97 Bln last year.Copyright RTT News/dpa-AFX
16.11.2018

Asian Markets Mixed Amid Cautious Trades

CANBERA (dpa-AFX) - Asian stock markets are mixed on Friday despite the overnight gains on Wall Street with investors turning cautious as they digested conflicting reports about progress in U.S.-China trade talks and also news about the political turmoil in the UK after some high-profile government resignations protesting against Prime Minister Theresa May's Brexit plans. The Australian market is modestly higher following the positive cues from Wall Street amid optimism about the resumption of U.S.-China trade talks.The benchmark S&P/ASX 200 Index is adding 17.60 points or 0.31 percent to 5,753.60, off a high of 5,757.90 earlier. The broader All Ordinaries Index is advancing 14.50 points or 0.25 percent to 5,839.70. Australian markets fluctuated before ending marginally higher on Thursday.The major miners are higher despite softer iron ore prices. Rio Tinto and BHP is advancing more than 1 percent, while Fortescue Metals is rising more than 2 percent.Oil stocks are also mostly higher after crude oil prices extended gains overnight to a second straight session. Woodside Petroleum is adding almost 1 percent and Santos is higher by 0.6 percent, while Oil Search is down 0.2 percent.In the banking sector, ANZ Banking, Commonwealth Bank and Westpac are up in a range of 0.3 percent to 0.7 percent.National Australia Bank chief executive Andrew Thorburn has taken a A$2 million pay cut after the bank reported a 14 percent decline in full-year cash earnings. The lender's shares are down 0.2 percent.Gold miners are weak despite gold prices rising overnight. Newcrest Mining is declining more than 1 percent and Evolution Mining is lower by almost 2 percent.Myer Holdings has denied it has breached its continuous disclosure obligations after media reports on the company's poor performance. The struggling department store chain has paused trading in its shares pending a further announcement.In the currency market, the Australian dollar is slightly higher against the U.S. dollar on Friday. The local currency was quoted at $0.7276, up from $0.7274 on Thursday.The Japanese market slipped into negative territory after opening higher following the positive cues from Wall Street. Investors are cautious as they digested news about the political turmoil in the UK and conflicting reports about progress in U.S.-China trade talks.The benchmark Nikkei 225 Index is declining 70.91 points or 0.33 percent to 21,732.71, after touching a high of 21,873.74 in early trades. Japanese shares edged lower on Thursday.In the tech space, Advantest and Tokyo Electron are losing almost 4 percent each. SoftBank's shares are losing more than 3 percent.The Nikkei Asian Review reported that China's Ministry of Commerce has launched an investigation into alleged dumping of machine tools by Fanuc and Jtekt Corp. as well as two other Japanese companies. Shares of Fanuc and Jtekt Corp. are down almost 1 percent and more than 1 percent respectively.Among the major exporters, Panasonic is down 0.2 percent, Sony is losing 0.3 percent, Canon is declining 0.4 percent and Mitsubishi Electric is lower by 0.6 percent.Automaker Honda is declining almost 1 percent and Toyota is down more than 1 percent. In the banking sector, Mitsubishi UFJ Financial is lower by 0.1 percent and Sumitomo Mitsui Financial is edging down less than 0.1 percent.In the oil space, Inpex is rising 3 percent and Japan Petroleum is advancing more than 1 percent as crude oil prices extended gains overnight.Among the other major gainers, Sumitomo Dainippon Pharma is rising 4 percent, while Chughai Pharmaceutical, Daiwa House Industry and Sompo Holdings are all higher by more than 2 percent each.On the flip side, Screen Holdings is losing almost 5 percent, while Chiyoda Corp and Showa Shell Sekiyu are lower by more than 4 percent each.In the currency market, the U.S. dollar is trading in the lower 113 yen-range on Thursday.Elsewhere in Asia, New Zealand, Hong Kong and Taiwan are also lower, while Singapore, South Korea, Shanghai, Indonesia and Malaysia are higher. On Wall Street, stocks rebounded from an early sell-off to close higher on Thursday amid optimism about trade after a report from the Financial Times said the U.S. and China have intensified efforts to reach a trade agreement at the G20 summit later this month. The early weakness in the markets came amid lingering concerns about the global economic outlook as well as news of the resignation of U.K. Brexit Secretary Dominic Raab.The Dow advanced 208.77 points or 0.8 percent to 25,289.27, the Nasdaq soared 122.64 points or 1.7 percent to 7,259.03 and the S&P 500 jumped 28.62 points or 1.1 percent to 2,730.20.European stocks closed mostly lower on Thursday, although the U.K's FTSE 100 Index bucked the downtrend and inched up by 0.1 percent. The French CAC 40 Index and the German DAX Index fell by 0.7 percent and 0.5 percent, respectively.Crude oil prices extended gains for a second successive session on Thursday despite official data from the Energy Information Administration showing a bigger than expected increase in U.S. crude oil inventories in the week to November 9. WTI crude for December rose $0.21 or 0.4 percent to close at $56.46 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
16.11.2018

Japanese Market Drifts Lower

TOKYO (dpa-AFX) - The Japanese stock market slipped into negative territory on Friday after opening higher following the positive cues overnight from Wall Street. Investors are cautious as they digested news about the political turmoil in the UK and conflicting reports about progress in U.S.-China trade talks.The benchmark Nikkei 225 Index is declining 70.91 points or 0.33 percent to 21,732.71, after touching a high of 21,873.74 in early trades. Japanese shares edged lower on Thursday.In the tech space, Advantest and Tokyo Electron are losing almost 4 percent each. SoftBank's shares are losing more than 3 percent.Among the major exporters, Panasonic is down 0.2 percent, Sony is losing 0.3 percent, Canon is declining 0.4 percent and Mitsubishi Electric is lower by 0.6 percent.Automaker Honda is declining almost 1 percent and Toyota is down more than 1 percent. In the banking sector, Mitsubishi UFJ Financial is lower by 0.1 percent and Sumitomo Mitsui Financial is edging down less than 0.1 percent.In the oil space, Inpex is rising 3 percent and Japan Petroleum is advancing more than 1 percent as crude oil prices extended gains overnight.Among the other major gainers, Sumitomo Dainippon Pharma is rising 4 percent, while Chughai Pharmaceutical, Daiwa House Industry and Sompo Holdings are higher by more than 2 percent each.On the flip side, Screen Holdings is losing almost 5 percent, while Chiyoda Corp and Showa Shell Sekiyu are lower by more than 4 percent each.In the currency market, the U.S. dollar is trading in the lower 113 yen-range on Thursday.On Wall Street, stocks rebounded from an early sell-off to close higher on Thursday amid optimism about trade after a report from the Financial Times said the U.S. and China have intensified efforts to reach a trade agreement at the G20 summit later this month. The early weakness in the markets came amid lingering concerns about the global economic outlook as well as news of the resignation of U.K. Brexit Secretary Dominic Raab.The Dow advanced 208.77 points or 0.8 percent to 25,289.27, the Nasdaq soared 122.64 points or 1.7 percent to 7,259.03 and the S&P 500 jumped 28.62 points or 1.1 percent to 2,730.20.European stocks closed mostly lower on Thursday, although the U.K's FTSE 100 Index bucked the downtrend and inched up by 0.1 percent. The French CAC 40 Index and the German DAX Index fell by 0.7 percent and 0.5 percent, respectively.Crude oil prices extended gains for a second successive session on Thursday despite official data from the Energy Information Administration showing a bigger than expected increase in U.S. crude oil inventories in the week to November 9. WTI crude for December rose $0.21 or 0.4 percent to close at $56.46 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
15.11.2018

European Markets Drop After High Profile UK Resignations

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Thursday's session solidly in negative territory. Bank stocks took a hit after the announcement of some high profile UK government resignations.U.K. Brexit Secretary Dominic Raab and Junior Brexit minister Suella Braverman quit from the government, protesting against Prime Minister Theresa May's Brexit plans. Raab announced that his resignation was due to disagreement over 'the regulatory regime proposed for Northern Ireland' that poses 'a very real threat to the integrity of the United Kingdom.'Raab's departure came shortly after the resignations of Work and Pensions minister Esther McVey and Northern Ireland minister Shailesh Vara over the plans.The resignations of cabinet ministers are a big blow to Prime Minister Theresa May, who is struggling to get support from lawmakers in Parliament to accept the agreement with the European Union.The pan-European Stoxx Europe 600 index weakened by 1.05 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.45 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.63 percent.The DAX of Germany dropped 0.52 percent and the CAC of France fell 0.70 percent. The FTSE 100 of the U.K. gained 0.06 percent, but the SMI of Switzerland finished lower by 0.68 percent.The pace of decline in EU new car registrations eased in October, data from the European Automobile Manufacturers Association, or ACEA, showed on Thursday.New car registration decreased by 7.3 percent year-on-year in October after a 23.5 percent slump in September. Registrations dropped for a second straight month and the pace of decline was the weakest since March.BMW declined 0.72 percent, Daimler fell 2.68 percent and Volkswagen lost 0.98 percent. Renault weakened by 0.70 percent and Peugeot surrendered 5.24 percent.In Frankfurt, consumer goods maker Henkel rallied 1.44 percent after reporting a rise in third-quarter sales and confirming full-year guidance.In Paris, Bouygues slid 0.22 percent. The industrial group confirmed its FY18 outlook after reporting a rise in net profit in the first nine months of the year.In London, Tullow Oil rose 1.82 percent. The oil exploration company raised its full-year free cash flow forecast and said its net debt would drop to $2.8 billion by the end of the year.Antofagasta climbed 4.57 percent after it was granted approval to expand its Los Pelambres mine.Premier Oil tumbled 9.02 percent. The company said it expects FY output to be at the bottom of the range announced previously.Royal Mail sank 6.49 percent after profit before tax for the half year ended 23 September 2018 dropped to 33 million pounds from 77 million pounds last year.UK retail sales declined for a second straight month in October, defying expectations for an increase, amid a sharp decrease in sales of household goods, preliminary data from the Office for National Statistics showed on Thursday.Sales volume including automotive fuel dropped 0.5 percent from September, when they fell 0.4 percent, revised from a 0.8 percent slump. Economists had forecast a 0.2 percent increase. On a year-on-year basis, retail sales volume grew 2.2 percent in October, which was the slowest pace in six months. Economists were looking for a 2.8 percent gain.Retail sales in the U.S. increased by more than anticipated in the month of October, the Commerce Department revealed in a report released on Thursday. The Commerce Department said retail sales advanced by 0.8 percent in October following a revised 0.1 percent dip in September. Economists had expected retail sales to climb by 0.5 percent compared to the 0.1 percent uptick originally reported for the previous month.First-time claims for U.S. unemployment benefits unexpectedly showed a slight increase in the week ended November 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims inched up to 216,000, an increase of 2,000 from the previous week's unrevised level of 214,000. Economists had expected jobless claims to edge down to 212,000.A report released by the Federal Reserve Bank of New York on Thursday showed the pace of growth in New York manufacturing activity unexpectedly accelerated in the month of November.The New York Fed said its general business conditions index rose to 23.3 in November from 21.1 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to dip to 20.0.Growth in Philadelphia-area manufacturing activity slowed by much more than expected in the month of November, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.The Philly Fed said its diffusion index for current general activity tumbled to 12.9 in November from 22.2 in September, although a positive reading still indicates growth in regional manufacturing activity. The index had been expected to dip to 20.0.A report released by the Labor Department on Thursday showed U.S. import and export prices both rose by more than expected in the month of October.The Labor Department said import prices climbed by 0.5 percent in October after rising by a downwardly revised 0.2 in September.Economists had expected import prices to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month.Meanwhile, the report said export prices rose by 0.4 percent in October after coming in unchanged in September. Export prices had also been expected to tick up by 0.1 percent.Business inventories in the U.S. increased in line with economist estimates in the month of September, according to a report released by the Commerce Department on Thursday. The Commerce Department said business inventories rose by 0.3 percent in September after climbing by 0.5 percent in August. Economists had expected inventories to rise by 0.3 percent.Copyright RTT News/dpa-AFX
15.11.2018

Futures Point To Moderately Higher Opening For Wall Street

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - It is a busy Thursday with major focus on economic news and a slew of Fed speeches and interactions. Early signs from the U.S. Futures points to a moderately higher opening for Wall Street. The Jobless Claims is the major focus of the investors.Asian shares finished mixed, while European shares are trading mixed. Geopolitical developments are closely watched by the investors. The resignation of two Cabinet ministers is adding pressure on U.K. Prime Minister Theresa May's stand on Brexit agreement with the EU. As of 7.50 am ET, the Dow futures were progressing 44.00 points, the S&P 500 futures were adding 5.00 points and the Nasdaq 100 futures were gaining 35.25 points.U.S. stocks closed significantly lower on Wednesday. The Dow fell 205.99 points or 0.8 percent to 25,080.50, the Nasdaq tumbled 64.48 points or 0.9 percent to 7,136.39 and the S&P 500 slid 20.60 points or 0.8 percent to 2,701.58.On the economic front Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 214K, unchanged from the prior week. Philadelphia Fed Business Outlook Survey report for November will be released at 8.30 am ET. The consensus is for 20.0, down from 22.2 in the previous month. Federal Reserve Chairman Jerome Powell will visit an affordable housing building site and take part in a walking tour through Houston's Fifth Ward to observe post-Hurricane Harvey recovery efforts and take part in a listening session to hear about recovery at the community level in Houston, TX at 11.00 am ET. Federal Reserve Vice Chairman for Supervision Randal Quarles will deliver the 'Semiannual Testimony on the Federal Reserve's Supervision and Regulation of the Financial System,' in Washington D.C at 10.00 am ET. The Energy Information Administration's (EIA) Natural Gas Report for the week will be published at 10.30 am ET. In the prior week, the change was 65 bcf. The Petroleum Status Report will be issued at 11.00 am ET. In the prior week, the Crude oil inventories were up 5.8 million barrels and Gasoline inventories grew by 1.9 million barrels. Two -year, 10-year Treasury inflation-indexed securities or TIPS auction will be held at 11.00 am ET. The Treasury Budget for September will be revealed at 2.00 pm ET. The consensus is for a surplus of $3.0 billion, compared to a deficit of $107.7 billion in the prior month. Atlanta Federal Reserve Bank President Raphael Bostic will deliver speech at the GIC's Central Banking Series Conference in Madrid, Spain, followed by audience Q&A at 1.00 pm ET. Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated Q&A with the Minnesota AgriGrowth Council in Minneapolis, MN, with audience Q&A at 3.00 pm ET. The Fed Balance Sheet for the week is expected at 4.30 pm ET. In the previous week, the level was $4.142 trillion. The Fed Money Supply for the week is scheduled at 4.30 pm ET. The M2 weekly change was $6.2 billion. In the corporate sector, Retail giant Walmart Inc. reported two percent decrease in profit for the third quarter from last year as higher revenues were offset by one-time charges. Walmart's third-quarter net income was $1.71 billion or $0.58 per share, compared to net income of $1.75 billion or $0.58 per share in the same period last year. Adjusted earnings were $1.08 per share, compared to $1.00 per share last year. Looking ahead, the company lowered its outlook for fiscal 2019 reported earnings, but raised its outlook for adjusted earnings per share and U.S. comparable sales. Total revenue for the quarter rose 1.4 percent to $124.89 billion from $123.18 billion last year. Excluding currency, total revenue increased 2.4 percent to $126.1 billion.Asian stocks ended mixed on Thursday. Chinese shares closed sharply higher on hopes for possible government action to boost growth. The benchmark Shanghai Composite index rallied 1.36 percent to close at 2,668.17 while Hong Kong's Hang Seng index climbed 1.75 percent to 26,103.34.Japanese shares edged lower. The Nikkei average slid 0.2 percent to 21,803.62 while the broader Topix index closed 0.14 percent lower at 1,638.97.Australian markets ended marginally higher. The Australian economy added 32,800 jobs last month - beating forecasts for 20,000 following the addition of 7,800 jobs in the previous month. The unemployment rate came in at a seasonally adjusted 5.0 percent, unchanged from the September reading.European shares are trading mixed. CAC 40 of France is declining 12.71 points ro 0.25 percent. DAX of Germany is adding 19.50 points or 0.17 percent. FTSE 100 of England is gaining 15.67 points or 0.22 percent. Swiss Market Index is dropping 19.73 points or 0.22 percent. Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.08 percent.Copyright RTT News/dpa-AFX
15.11.2018

European Shares Slide As Euro Extends Gains After Raab's Resignation

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were moving lower on Thursday, giving up earlier gains after Brexit Secretary Dominic Raab and Northern Ireland minister Shailesh Vara announced their resignations, dealing a severe blow to Prime MinisterTheresa May's Brexit plans.The British pound crashed against the euro and dollar following Raab's resignation. Traders were also digesting media reports suggesting that China has outlined a series of potential concessions to the Trump administration to resolve trade issues.The pan-European Stoxx Europe 600 index was down half a percent at 360.35 in opening deals after declining 0.6 percent in the previous session. The German DAX was marginally lower and France's CAC 40 index was declining 0.4 percent while the U.K.'s FTSE 100 was moving up 0.3 percent, benefiting from weakness in the pound.BMW, Daimler, Volkswagen, Renault and Peugeot slumped 2-4 percent after industry data showed EU new car registration decreased by 7.3 percent year-on-year in October.Bouygues rose about 1 percent in Paris. The industrial group confirmed its FY18 outlook after reporting a rise in net profit in the first nine months of the year.German consumer goods maker Henkel rallied 3.5 percent after reporting a rise in third-quarter sales and confirming full-year guidance.Tullow Oil rose over 2 percent in London. The oil exploration company raised its full-year free cash flow forecast and said its net debt would drop to $2.8 billion by the end of the year.Antofagasta climbed 1.9 percent after it was granted approval to expand its Los Pelambres mine.Premier Oil lost 2.2 percent. The company said it expects FY output to be at the bottom of the range announced previously.Royal Mail slumped 5.6 percent after profit before tax for the half year ended 23 September 2018 dropped to 33 million pounds from 77 million pounds last year.Copyright RTT News/dpa-AFX
15.11.2018

FTSE 100 Up 23 Points As Pound Plummets After Raab's Resignation

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks advanced on Thursday and the British pound fell against the euro, as Brexit Secretary Dominic Raab and Northern Ireland minister Shailesh Vara announced their resignations, dealing a severe blow to Prime Minister Theresa May's Brexit plans. Investors were also digesting media reports suggesting that China has outlined a series of potential concessions to the Trump administration to resolve trade issues. The benchmark FTSE 100 was up 23 points or 0.32 percent at 7,056 in opening deals after declining 0.3 percent in the previous session.Tullow Oil rose over 2 percent. The oil exploration company raised its full-year free cash flow forecast and said its net debt would drop to $2.8 billion by the end of the year.Antofagasta climbed 1.9 percent after it was granted approval to expand its Los Pelambres mine.Vodafone was marginally higher after reports that it may replicate elements of its British mobile towers joint venture in other markets.Premier Oil lost 2.2 percent. The company said it expects FY output to be at the bottom of the range announced previously. Royal Mail slumped 5.6 percent after profit before tax for the half year ended 23 September 2018 dropped to 33 million pounds from 77 million pounds last year.Copyright RTT News/dpa-AFX
15.11.2018

CAC 40 Inches Higher In Cautious Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were modestly higher on Thursday after the Bloomberg reported that the Chinese government has outlined potential concessions to the Trump administration in an attempt to resolve a trade war between the world's two-largest economies. Market sentiment also received a boost after European Council President Donald Tusk told reporters in Brussels that EU leaders would meet on November 25 to finalize and formalize the Brexit agreement.The benchmark CAC 40 was up 9 points or 0.18 percent at 5,078 in opening deals after closing 0.7 percent lower on Wednesday. Bouygues jumped 3.4 percent. The industrial group confirmed its FY18 outlook after reporting a rise in net profit in the first nine months of the year.Automaker Renault declined 0.8 percent and Peugeot fell 1.9 percent after industry data showed EU new car registration decreased by 7.3 percent year-on-year in October.Copyright RTT News/dpa-AFX
15.11.2018

DAX Rises As China Outlines Potential Trade Concessions

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose on Thursday after British Prime Minister Theresa May won the support of her bitterly divided cabinet for a draft Brexit deal and China reportedly outlined a series of concessions to the U.S. on their trade dispute.The benchmark DAX was up 69 points or 0.60 percent at 11,481 in opening deals after losing half a percent the previous day. Consumer goods maker Henkel rallied 2.8 percent after reporting a rise in third-quarter sales and confirming full-year guidance. Deutsche EuroShop advanced 0.8 percent. The real estate investment company reported that its funds from operations increased by 2.9 percent to 110.7 million euros in the first nine months of the current financial year.Carmaker BMW fell over 1 percent, Daimler lost 1.6 percent and Volkswagen shed 0.9 percent. Industry data showed today that new car registration in Europe decreased by 7.3 percent year-on-year in October after a 23.5 percent slump in September. Industrial gases firm Linde was marginally lower after reporting a drop in revenue for nine months ended September.Copyright RTT News/dpa-AFX
15.11.2018

Asian Shares Mixed After UK Cabinet Backs Brexit Deal

CANBERA (dpa-AFX) - Asian stocks ended mixed on Thursday as U.S. stocks fell for a fifth day overnight and oil declined once again after rising on Wednesday. Beijing's pledge of support for the economy and news that European Union leaders will meet on Nov 25 to endorse the divorce deal with Britain helped regional stock finish off their day's lows. Chinese shares bucked the weak trend to close sharply higher on hopes for possible government action to boost growth. The benchmark Shanghai Composite index rallied 1.36 percent to close at 2,668.17 while Hong Kong's Hang Seng index climbed 1.75 percent to 26,103.34.Japanese shares edged lower, dragged down by financials and Apple suppliers. The Nikkei average slid 0.2 percent to 21,803.62 while the broader Topix index closed 0.14 percent lower at 1,638.97. Heavyweight SoftBank lost 2.7 percent and Fanuc declined 1.9 percent while Fast Retailing rose half a percent. Apple supplier TDK Corp tumbled 3.1 percent and Taiyo Yuden fell as much as 4.8 percent after Apple shares fell for a fifth day on concerns about iPhone demand. Exporters Canon, Panasonic and Sony fell around 1 percent. Banks fell on apprehensions over earnings outlook after a U.S. Democrat lawmaker vowed to halt easing of banking regulations. Both Mitsubishi Financial UFJ and Sumitomo Mitsui Financial Group ended down over 3 percent. Australian markets fluctuated before ending marginally higher as data showed the country's labor market experienced stronger than expected employment growth in October. The Australian economy added 32,800 jobs last month - beating forecasts for 20,000 following the addition of 7,800 jobs in the previous month. The unemployment rate came in at a seasonally adjusted 5.0 percent, unchanged from the September reading.The big four banks as well as mining heavyweights BHP Billiton and Rio Tinto finished flat to slightly lower. Gold miners Evolution and Newcrest climbed 2-3 percent as gold prices held steady on dollar weakness.Grain handler Graincorp dropped 1.4 percent after posting a big drop in full-year profit. Wesfarmers fell 1.7 percent ahead of a crucial shareholder vote on the demerger of Coles later in the day. New Zealand shares finished little changed with a negative bias. Vector fell 3 percent to hit its lowest level since late August while Freightways jumped 3.2 percent.South Korea's Kospi average rose 1 percent to 2,088.06 on institutional buying. India's Sensex was rising 0.6 percent on easing concerns about inflation as oil prices resumed declines after closing about 1 percent higher Wednesday to snap twelve successive days of declines.Overnight, U.S. stocks fluctuated before closing lower as Apple extended its recent declines and Congresswoman Maxine Waters, D-Calif., who is expected to take over the powerful House Financial Services Committee in the next Congress, suggested she would halt President Donald Trump's efforts to roll back banking regulations.The Dow Jones Industrial Average dropped 0.8 percent and the tech-heavy Nasdaq Composite shed 0.9 percent while the S&P 500 fell 0.8 percent to end lower for the fifth consecutive session.Copyright RTT News/dpa-AFX
15.11.2018

European Shares Likely To Open On Cautious Note

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open lower on Thursday as the U.S. dollar weakened and oil resumed declines after closing about 1 percent higher on Wednesday to snap twelve successive days of declines.Worries about oversupply returned to haunt investors after an industry group said U.S. inventories had risen more than expected last week.The dollar fell against the pound and euro after British Prime Minister Theresa May gained cabinet support for a Brexit deal. 'The collective decision of cabinet was that the government should agree the draft withdrawal agreement and the outline political declaration,' May said after a five-hour meeting. Asian stocks are turning in a mixed performance, with Chinese and Hong Kong markets rising sharply on hopes for possible government action to boost growth. Overnight, U.S. stocks fluctuated before closing lower as Apple extended its recent declines and Congresswoman Maxine Waters, D-Calif., who is expected to take over the powerful House Financial Services Committee in the next Congress, suggested she would halt President Donald Trump's efforts to roll back banking regulations.The Dow dropped 0.8 percent and the tech-heavy Nasdaq Composite shed 0.9 percent while the S&P 500 fell 0.8 percent to end lower for the fifth consecutive session. European stocks also closed lower on Wednesday as lingering worries about slowing global growth overshadowed news that the EU and UK negotiators have reached a draft Brexit deal.The pan-European Stoxx Europe 600 index gave up 0.6 percent. The German DAX declined half a percent, France's CAC 40 lost 0.7 percent and the U.K.'s FTSE 100 dipped 0.3 percent.Copyright RTT News/dpa-AFX
15.11.2018

Dollar Surges Against Pound After UK Government Resignations

WASHINGTON (dpa-AFX) - The dollar has leaped against the British pound Thursday in the wake of some high profile UK government resignations. Traders are also reacting to a deluge of U.S. economic data.Retail sales in the U.S. increased by more than anticipated in the month of October, the Commerce Department revealed in a report released on Thursday. The Commerce Department said retail sales advanced by 0.8 percent in October following a revised 0.1 percent dip in September. Economists had expected retail sales to climb by 0.5 percent compared to the 0.1 percent uptick originally reported for the previous month.First-time claims for U.S. unemployment benefits unexpectedly showed a slight increase in the week ended November 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims inched up to 216,000, an increase of 2,000 from the previous week's unrevised level of 214,000. Economists had expected jobless claims to edge down to 212,000.A report released by the Federal Reserve Bank of New York on Thursday showed the pace of growth in New York manufacturing activity unexpectedly accelerated in the month of November.The New York Fed said its general business conditions index rose to 23.3 in November from 21.1 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to dip to 20.0.Growth in Philadelphia-area manufacturing activity slowed by much more than expected in the month of November, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.The Philly Fed said its diffusion index for current general activity tumbled to 12.9 in November from 22.2 in September, although a positive reading still indicates growth in regional manufacturing activity. The index had been expected to dip to 20.0.A report released by the Labor Department on Thursday showed U.S. import and export prices both rose by more than expected in the month of October.The Labor Department said import prices climbed by 0.5 percent in October after rising by a downwardly revised 0.2 in September.Economists had expected import prices to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month.Meanwhile, the report said export prices rose by 0.4 percent in October after coming in unchanged in September. Export prices had also been expected to tick up by 0.1 percent.Business inventories in the U.S. increased in line with economist estimates in the month of September, according to a report released by the Commerce Department on Thursday. The Commerce Department said business inventories rose by 0.3 percent in September after climbing by 0.5 percent in August. Economists had expected inventories to rise by 0.3 percent.The dollar rose to an early high of $1.1270 against the Euro Thursday, but has since retreated to around $1.1350.U.K. Brexit Secretary Dominic Raab and Junior Brexit minister Suella Braverman quit from the government, protesting against Prime Minister Theresa May's Brexit plans. Raab announced that his resignation was due to disagreement over 'the regulatory regime proposed for Northern Ireland' that poses 'a very real threat to the integrity of the United Kingdom.'Raab's departure came shortly after the resignations of Work and Pensions minister Esther McVey and Northern Ireland minister Shailesh Vara over the plans.The resignations of cabinet ministers are a big blow to Prime Minister Theresa May, who is struggling to get support from lawmakers in Parliament to accept the agreement with the European Union.The buck has surged to a 2-week high of $1.2775 against the pound sterling Thursday afternoon, from an early low of $1.3030.UK retail sales declined for a second straight month in October, defying expectations for an increase, amid a sharp decrease in sales of household goods, preliminary data from the Office for National Statistics showed on Thursday.Sales volume including automotive fuel dropped 0.5 percent from September, when they fell 0.4 percent, revised from a 0.8 percent slump. Economists had forecast a 0.2 percent increase. On a year-on-year basis, retail sales volume grew 2.2 percent in October, which was the slowest pace in six months. Economists were looking for a 2.8 percent gain.The greenback slid to an early low of Y113.097 against the Japanese Yen Thursday, but has since bounced back to around Y113.575.Copyright RTT News/dpa-AFX
15.11.2018

U.S. Dollar Mixed After U.S. Retail Sales Data

BRUSSELS (dpa-AFX) - The U.S. dollar came in mixed against its key counterparts in the European session on Thursday, after the release of nation's retail sales data for October, which advanced more than economist expectations.Data from the Commerce Department showed that U.S. retail sales advanced 0.8 percent in October following a revised 0.1 percent dip in September. Economists had expected retail sales to climb by 0.5 percent.Data from the Labor Department showed that first-time claims for U.S. unemployment benefits increased slightly in the week ended November 10.The report said initial jobless claims inched up to 216,000, an increase of 2,000 from the previous week's unrevised level of 214,000. Economists had expected jobless claims to edge down to 212,000.Separate data showed that U.S. import and export prices both rose more than expected in the month of October.The import prices climbed 0.5 percent and export prices rose 0.4 percent in October.The currency declined against its major counterparts in the Asian session, excepting the franc.The greenback held steady against the pound, after having risen to a new 2-week high of 1.2751 at 5:15 am ET. At Wednesday's close, the pair was worth 1.2985.Data from the Office for National Statistics showed that U.K. retail sales declined for a second straight month in October, defying expectations for an increase, amid a sharp decrease in sales of household goods.Sales volume including automotive fuel dropped 0.5 percent from September, when they fell 0.4 percent, revised from a 0.8 percent slump. Economists had forecast a 0.2 percent increase.The greenback rose to 1.1271 against the euro, from an early 6-day low of 1.1351, and held steady thereafter. The pair closed yesterday's deals at 1.1307.The greenback retreated to 1.0047 against the franc, from an early high of 1.0077, and moved sideways thereafter. The currency had already set a weekly low of 1.0039 at 3:30 am ET. The greenback-franc pair was worth 1.0057 at yesterday's close.Extending early decline, the greenback slipped to an 8-day low of 113.26 versus the yen. The greenback finished Wednesday's trading at 113.61 against the yen. If the greenback drops further, 112.00 is seen as its next support level.The U.S. business inventories for September are set for release at 10:00 am ET.Federal Reserve Governor Randal Quarles will testify on banking supervision and regulation before the Senate Banking Committee in Washington DC at 10:00 am ET.At 11:30 am ET, Federal Reserve Chair Jerome Powell will speak about Hurricane Harvey recovery efforts at an event hosted by the Federal Reserve Bank of Dallas in Houston.Atlanta Fed President Raphael Bostic is scheduled to speak about monetary policy at the Global Interdependence Center in Madrid at 1:00 pm ET.Copyright RTT News/dpa-AFX
15.11.2018

Dollar Little Changed After U.S. Weekly Jobless Claims, Retail Sales

BRUSSELS (dpa-AFX) - The U.S. weekly jobless claims for the week ended November 10, retail sales and import and export prices for October have been released at 8:30 am ET Thursday. Following these data, the greenback changed little against its major counterparts.The greenback was trading at 1.1306 against the euro, 113.34 against the yen, 1.0053 against the franc and 1.2803 against the pound around 8:32 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Dollar Steady Ahead Of U.S. Weekly Jobless Claims, Retail Sales

BRUSSELS (dpa-AFX) - The U.S. weekly jobless claims for the week ended November 10, retail sales and import and export prices for October are due at 8:30 am ET Thursday. Ahead of these data, the greenback held steady against its major counterparts.The greenback was worth 1.1305 against the euro, 113.36 against the yen, 1.0053 against the franc and 1.2799 against the pound as of 8:25 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Pound Sharply Down After Brexit Secretary Raab's Resignation

BRUSSELS (dpa-AFX) - The pound lost ground against its major counterparts in the European session on Thursday, as U.K. Brexit Secretary Dominic Raab and Junior Brexit minister Suella Braverman quit from the government, protesting against Prime Minister Theresa May's Brexit plans. Raab announced that his resignation was due to disagreement over 'the regulatory regime proposed for Northern Ireland' that poses 'a very real threat to the integrity of the United Kingdom.'Raab's departure came shortly after the resignations of Work and Pensions minister Esther McVey and Northern Ireland minister Shailesh Vara over the plans.The resignations of cabinet ministers are a big blow to Prime Minister Theresa May, who is struggling to get support from lawmakers in Parliament to accept the agreement with the European Union.The currency was also hammered by weak U.K. retail sales for October.Data from the Office for National Statistics showed that U.K. retail sales fell 0.5 percent from last month, when they fell 0.4 percent, revised from a 0.8 percent slump. Economists had forecast a 0.2 percent increase. On a year-on-year basis, retail sales volume grew 2.2 percent in October, which was the slowest pace in six months. Economists were looking for a 2.8 percent gain, defying forecasts for a 0.2 percent rise.The currency was higher against its most major opponents in the Asian session after news that U.K. PM Theresa May had obtained cabinet support for her proposed Brexit deal to move forward.The pound depreciated 1.7 percent to a 2-week low of 0.8844 against the euro, following a rise to 0.8695 at 5:00 pm ET. The pair had closed Wednesday's trading at 0.8704. Next likely key support for the pound is seen around the 0.90 level.After rising to 147.93 against the yen at 2:15 am ET, the pound reversed direction and dropped 2.3 percent to a 2-week low of 144.57. The pair was valued at 147.56 when it closed deals on Wednesday. Continuation of the pound's downtrend is likely to take it to a support around the 143.00 level.The pound was 1.9 percent lower against the Swiss franc, touching a new 2-week low of 1.2844. This follows a high of 1.3097 touched at 1:30 am ET. The pound-franc pair had closed yesterday's trading at 1.3057. The pound may test support around the 1.27 level, if it slides again.The U.K. currency lost 2 percent to hit a new 2-week low of 1.2751 against the greenback, after climbing to 1.3030 at 1:45 am ET. At Wednesday's close, the pair was quoted at 1.2985. The pound is poised to find support around the 1.26 level.Looking ahead, U.S. weekly jobless claims for the week ended November 10, business inventories for September, retail sales and import and export prices for October as well as Canada existing home sales for October are set for release in the New York session.Federal Reserve Governor Randal Quarles will testify on banking supervision and regulation before the Senate Banking Committee in Washington DC at 10:00 am ET.At 11:30 am ET, Federal Reserve Chair Jerome Powell will speak about Hurricane Harvey recovery efforts at an event hosted by the Federal Reserve Bank of Dallas in Houston.Atlanta Fed President Raphael Bostic is scheduled to speak about monetary policy at the Global Interdependence Center in Madrid at 1:00 pm ET.Copyright RTT News/dpa-AFX
15.11.2018

Euro Slides Further Vs Most Majors Following Eurozone Trade Data

BRUSSELS (dpa-AFX) - After the release of Eurozone trade data for September at 5 am ET Thursday, the euro traded mixed against its major opponents. While the euro changed little against the pound, it fell further against the rest of major rivals.The euro was trading at 1.1284 against the greenback, 0.8815 against the pound, 1.1364 against the franc and 127.93 against the yen around 5:04 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Euro Falls Vs Most Majors Ahead Of Eurozone Trade Data

BRUSSELS (dpa-AFX) - At 5 am ET Thursday, Eurostat is set to release the trade data for September. The seasonally adjusted trade surplus is forecast to decrease slightly to EUR 16.3 billion from EUR 16.6 billion in the previous month.Ahead of the data, the euro traded mixed against its major opponents. While the euro rose against the pound, it dropped against the rest of major rivals.The euro was worth 1.1287 against the greenback, 0.8833 against the pound, 1.1363 against the franc and 128.04 against the yen as of 4:55 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Pound Drops Further After UK Retail Sales

BRUSSELS (dpa-AFX) - Following the release of UK retail sales data for October at 4.30 am ET Thursday, the pound fell further against its major counterparts.The pound was trading at 1.2817 against the greenback, 0.8828 against the euro, 1.2889 against the franc and 145.30 against the yen around 4:31 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Pound Slides Ahead Of UK Retail Sales

BRUSSELS (dpa-AFX) - The Office for National Statistics is set to release the UK retail sales data for October at 4.30 am ET Thursday. Sales excluding auto fuel are expected to rise 0.2 percent after a 0.8 percent fall in September.Ahead of the data, the pound dropped against its major counterparts.The pound was worth 1.2846 against the greenback, 0.8814 against the euro, 1.2905 against the franc and 145.57 against the yen as of 4:25 am ET.Copyright RTT News/dpa-AFX
15.11.2018

Australian Dollar Higher After Strong Jobs Data

CANBERA (dpa-AFX) - The Australian dollar spiked up against its major counterparts in the Asian session on Thursday, after a data showed that nation's jobless rate dropped more than forecast in October, while employment surged.Data from the Australian Bureau of Statistics showed that Australia's unemployment rate came in at a seasonally adjusted 5.0 percent in October.That was unchanged from the September reading, although it was beneath expectations for 5.1 percent.The Australian economy added 32,800 jobs last month - beating forecasts for 20,000 following the addition of 7,800 jobs in the previous month.Further underpinning the currency was rising risk appetite as British Prime Minister Theresa May said she has obtained cabinet support for her proposed Brexit deal to move forward.The aussie climbed to a 6-day high of 82.74 against the yen and a weekly high of 0.7282 against the greenback, from its early lows of 82.09 and 0.7229, respectively. The next possible resistance for the aussie is seen around 84.00 against the yen and 0.75 against the greenback.Reversing from its previous lows of 1.5650 against the euro and 0.9572 against the loonie, the aussie advanced to a 5-month high of 1.5546 and more than a 3-month high of 0.9641, respectively. If the aussie rises further, 1.54 and 0.98 are possibly seen as its next resistance levels against the euro and the loonie.The aussie strengthened to a 3-day high of 1.0713 against the kiwi and held steady thereafter. The aussie is seen finding resistance around the 1.09 region.Looking ahead, U.K. retail sales for October and Eurozone trade data for September are due in the European session.In the New York session, U.S. weekly jobless claims for the week ended November 10, business inventories for September, retail sales and import and export prices for October as well as Canada existing home sales for October are set for release.Federal Reserve Governor Randal Quarles will testify on banking supervision and regulation before the Senate Banking Committee in Washington DC at 10:00 am ET.At 11:30 am ET, Federal Reserve Chair Jerome Powell will speak about Hurricane Harvey recovery efforts at an event hosted by the Federal Reserve Bank of Dallas in Houston.Atlanta Fed President Raphael Bostic is scheduled to speak about monetary policy at the Global Interdependence Center in Madrid at 1:00 pm ET.Copyright RTT News/dpa-AFX

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