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28.09.2021

AstraZeneca Says Saphnelo Approved To Treat SLE In Japan

LONDON (dpa-AFX) - AstraZeneca (AZN), a global biopharmaceutical company, on Tuesday, said its Saphnelo (anifrolumab), a first-in-class type I interferon receptor antibody, has been approved in Japan for the treatment of adult patients with systemic lupus erythematosus (SLE). SLE is a serious autoimmune disease, which shows an insufficient response to currently available treatment. The approval by the Japanese Ministry of Health, Labour, and Welfare (MHLW) was based on efficacy and safety data from the Saphnelo clinical development program. This also includes the TULIP Phase III trials and the MUSE Phase II trial, the Cambridge-headquartered firm said in a statement. In these trials, more patients treated with Saphnelo experienced a reduction in overall disease activity across organ systems, including skin and joints, and achieved sustained reduction in oral corticosteroid (OCS) use compared to placebo, with both groups receiving standard therapy.The adverse reactions that occurred more frequently in patients who received Saphnelo in clinical trials comprised upper respiratory tract infection, bronchitis, infusion-related reactions, hypersensitivity reactions, and herpes zoster, the company added. SLE can affect any organ, and people often experience inadequate disease control, long-term organ damage, and poor health-related quality of life.SLE is designated as an intractable disease in Japan through a program that incentivizes research and development of drugs to treat rare diseases that lack effective treatments, and also helps reduce the cost burden on patients. There are approximately 60,000 registered patients with SLE in Japan, and the majority are women diagnosed before age 45. Saphnelo has been approved in the U.S. for the treatment of moderate to severe SLE and is under regulatory review for SLE in the EU.Copyright RTT News/dpa-AFX
28.09.2021

A.G. BARR H1 Adj. Profit Rises, Revenue Up 19.5%; Recommences Dividends

LONDON (dpa-AFX) - A.G.BARR Plc (BAG.L) reported record first-half profit reflecting positive underlying volume momentum as well as a number of benefits which will not repeat in the second half. It also recorded strong trading across both business units. Looking forward, the Group remains on track to deliver strong full year profit performance, slightly ahead of 2019/20 pre-COVID level. For the 6 months ended 1 August 2021, statutory profit before tax was 24.4 million pounds compared to 5.1 million pounds, last year. Earnings per share was 12.71 pence compared to 1.71 pence. Before exceptional items, profit before tax was 23.7 million pounds, up 42.8% from last year. Earnings per share before exceptional items was 12.15 pence compared to 10.52 pence. For the 27 weeks ended 1 August 2021, revenue was 135.3 million pounds, up 19.5% from prior year. On a like-for-like basis, excluding the extra week of trading, revenue was 128.5 million pounds, an increase of 13.5%.The Board recommenced dividend distributions with an interim dividend for the 27 weeks ended 1 August 2021 of 2.0 pence per share payable on 29 October 2021 to shareholders on the register on 8 October 2021. The Group also announced a special dividend of 10.0 pence per share payable on 29 October 2021 to shareholders on the register on 8 October 2021.Copyright RTT News/dpa-AFX
28.09.2021

National Grid Files 3-Yr Rate Plan, Joint Proposal For Upstate New York Business

LONDON (dpa-AFX) - National Grid (NG.L, NGG), on Tuesday, announced that the company, Department of Public Service Staff, and other settling parties have filed a Joint Proposal for a multi-year rate settlement for National Grid's Upstate New York electric and natural gas distribution business, the Niagara Mohawk Power Corp. or NIMO. The company serves 1.6 million electric and 0.6 million gas customers and represents almost 30% of the Group's US rate base. National Grid further noted that the proposed settlement is for a three-year rate plan with new rates back-dated to July 2021. A final decision from the New York Public Service Commission is expected in the next few months. The settlement maintains a focus on managing customer affordability in response to the economic downturn caused by COVID-19, while funding programmes necessary to maintain safe and reliable service, modernise the electric and gas networks, and promote economic growth in the state.It also includes investment in programmes to reduce methane emissions and support clean gas to help the State's environmental goals.Copyright RTT News/dpa-AFX
28.09.2021

UK Commercial Property REIT Posts HY Profit

LONDON (dpa-AFX) - UK Commercial Property REIT Limited (UKCM.L) reported that its net profit for the half year ended 30 June 2021 was 66.81 million pounds or 5.14 pence per share compared to a loss of 58.76 million pounds or 4.52 pence per share in the same period last year.EPRA earnings per share declined to 1.16 pence from 1.60 pence in the prior year.Rental income for the period declined to 28.77 million pounds from 34.94 million pounds last year. Total income was 83.55 million pounds compared to total loss of 41.18 million pounds in the prior year.The company said it benefits from low tenant income concentration due to its diverse tenant mix of 169 tenancies across 34 assets, with its top tenant, Ocado, accounting for 5.5% of contracted rental income. Overall, occupancy of the portfolio increased to 96% as at 30 June 2021 from 94% at the end of December 2020.Copyright RTT News/dpa-AFX
28.09.2021

Close Brothers FY21 Profit Climbs; Lifts Dividend; Sees Improvement In Outlook

LONDON (dpa-AFX) - UK merchant banking group Close Brothers Group plc (CBG.L) reported Tuesday that its fiscal 2021 profit attributable to shareholders climbed 85 percent to 202.1 million pounds from 109.5 million pounds a year ago.Basic earnings per share grew 85 percent to 134.8 pence from 72.8 pence last year. Adjusted basic earnings per share were 140.4 pence, compared to prior year's 74.5 pence.Operating profit before tax grew 88 percent to 265.2 million pounds from 140.9 million pounds last year. Adjusted operating profit was 270.7 million pounds, compared to prior year's 144.0 million pounds.Operating income for the year increased 10 percent to 952.6 million pounds from 866.1 million pounds a year ago.Further, the company said its board is proposing a final dividend of 42.0p, resulting in a full year dividend per share of 60.0p, up from last year's 40.0p.Looking ahead, the company sees improvement in the economic outlook although the trajectory remains uncertain.Copyright RTT News/dpa-AFX
28.09.2021

Smiths Group FY21 Headline Profit Rises; Signs Binding Agreement To Sell Smiths Medical

LONDON (dpa-AFX) - Smiths Group PLC (SMIN.L) said it delivered headline operating profit growth of 7% on an underlying basis for fiscal 2021. Underlying revenue was down 2% for the full year. Looking forward, Group expects underlying revenue growth rates to return, in aggregate, to around pre-COVID levels during fiscal 2022. Smiths Group said it has exercised previously announced put option and has now entered into a binding share purchase agreement with ICU Medical, Inc. in relation to the sale of Smiths Medical. The Board has unanimously recommended the deal, and said it is superior to all other proposals received during the separation and sale process. After deduction of debt and other liabilities, the equity value of the transaction is $2.4 billion.For the year ended 31 July 2021, headline operating profit increased 14% on a reported basis, to 372 million pounds. Headline earnings per share from continuing operations was 59.0 pence compared to 49.4 pence. Pretax profit from continuing operations increased to 240 million pounds from 133 million pounds, previous year. Earnings per share from continuing operations was 39.1 pence compared to 16.3 pence. Headline revenue from continuing operations was 2.41 billion pounds, down 6% on a reported basis. The Board recommended a final dividend of 26.0 pence, bringing the total dividend for the year to 37.7 pence, a year-on-year increase of 8%. The final dividend will be paid on 19 November 2021 to shareholders on the register at close of business on 22 October 2021.Copyright RTT News/dpa-AFX
28.09.2021

Pennon Group On Track To Deliver Resilient Financial Performance In Line With Management View

LONDON (dpa-AFX) - Pennon Group (PNN.L), on Tuesday, reported that it is on track to deliver resilient financial performance in line with management expectations.Overall EBITDA remains in line with management expectations as increased costs have been offset by increased revenues. The company further noted that its capital investment programme is delivering in line with its profile of K7 investment, with about 30% increase on the prior year, including its Green Recovery projects.Susan Davy, Group Chief Executive Officer said, 'Pennon Group is on track to deliver resilient financial performance in line with management expectations. At the same time we are delivering a step change in environmental performance, as we focus on our Green Recovery and Net Zero ambitions.'Copyright RTT News/dpa-AFX
28.09.2021

Huntsman, Korea's KPX Chemical Form Polyurethane JV In Korea

SEOUL (dpa-AFX) - Huntsman Corp. (HUN), an MDI-based polyurethanes and specialty chemical manufacturer, Tuesday announced the establishment of a joint venture with KPX Chemical, a polyols producer for polyurethanes in Korea.The joint venture or JV is named KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO., LTD. or KHPUA. The JV will create and provide innovative polyurethane system solutions to Korean automakers from a specialty polyurethanes manufacturing facility at KPX Chemical's Ulsan plant.The companies expect the JV's operations to commence by the end of October.Tony Hankins, President of Huntsman's Polyurethanes division and CEO of Huntsman Asia Pacific, said, 'Korea is one of Huntsman's key markets in Asia and driving continued business growth in the automotive industry is a priority for us. The new joint venture will create and provide customized polyurethane systems solutions to meet local automotive customers' needs for improved comfort, superior acoustics and light-weighting.'Copyright RTT News/dpa-AFX
28.09.2021

Activision Blizzard To Create $18 Mln Fund To Settle Sexual Harassment & Discrimination Case

SANTA MONICA (dpa-AFX) - Activision Blizzard (ATVI) said it has reached an agreement with the U.S. Equal Employment Opportunity Commission or EEOC to settle claims and to further strengthen policies and programs to prevent harassment and discrimination in the company's workplace.Under the agreement, the company has committed to create an $18 million fund to compensate and make amends to eligible claimants. The company noted that any amounts not used for claimants will be divided between charities that advance women in the video game industry or promote awareness around harassment and gender equality issues as well as company diversity, equity, and inclusion initiatives, as approved by the EEOC. The company also said it will develop software tools and training programs to improve workplace policies and practices for employers across the technology industry.In addition, the company noted that it will upgrade its policies, practices, and training to further prevent and eliminate harassment and discrimination in its workplaces.The company will provide ongoing oversight and review of its training programs, investigation policies, disciplinary framework and compliance by appointing a third-party equal opportunity consultant whose findings will be regularly reported to Board of Directors as well as the Commission.Copyright RTT News/dpa-AFX
27.09.2021

PSEG Affirms FY21 Operating Earnings Guidance

WASHINGTON (dpa-AFX) - At its 2021 Investor Conference on Monday, Public Service Enterprise Group, Inc. or PSEG (PEG) affirmed its adjusted operating earnings guidance for the full-year 2021 in a range of $3.50 to $3.65 per share.The company also initiated adjusted operating earnings guidance for the full-year 2022 in the range of $3.30 to $3.60 per share.On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.56 per share for fiscal 2021 and $3.49 per share for fiscal 2022. Analysts' estimates typically exclude special items.Further, PSEG introduced long-term adjusted operating earnings growth rate of 5% to 7% to 2025, based upon the mid-point of the initiated guidance for fiscal 2022.PSEG also announced that it is increasing the 2021 to 2025 Utility capital spending program by $1 billion, to a range of $14 billion to $16 billion, which will strengthen its rate base compound annual growth rate within the existing range of 6.5% to 8%.Additionally, PSEG raised the indicative 2022 Common Stock Dividend by $0.12 per share, signaling an indicative 2022 dividend of $2.16 per share beginning in the first quarter of 2022, which is subject to approval by the Board of Directors.The company also announced a $500 million share repurchase program upon close of Fossil sale, which is expected later this year or early in 2022.Copyright RTT News/dpa-AFX
28.09.2021

European Shares Poised For Positive Opening

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are seen opening flat to slightly higher on Tuesday as investors bet on rising interest rates and bring forward expectations for Fed policy tightening. Fed Governor Lael Brainard said on Monday that labor-market conditions may 'soon' warrant a reduction in the pace of the central bank's bond purchases.New York Fed President John Williams also noted that moderating bond-buying may soon be warranted.Fed Chair Jerome Powell is due to appear today with Treasury Secretary Janet Yellen at an oversight hearing on the government's massive support programs passed to deal with the COVID pandemic.European Central Bank President Christine Lagarde speaks at the ECB Forum on Central Banking.Asian stocks traded mixed, with Chinese and Hong Kong markets rising after China's central bank pledged to ensure a 'healthy property market' amid the China Evergrande Group crisis.China's industrial profits continued to grow at a slower pace as higher input prices as well as shortage of materials lifted production cost, official data showed earlier in the day. Industrial profits increased 10.1 percent year-on-year in August, following an annual growth of 16.4 percent in July.Germany's market research group GfK is scheduled to issue consumer sentiment survey results later in the day. The forward-looking index is seen falling to -1.6 in October from -1.2 in September.France's Insee publishes consumer sentiment survey results for September. The index is seen at 100 versus 99 in August.The dollar rose and the U.S. two-year yield hit an 18-month high amid speculation the Federal Reserve could begin asset tapering as soon as November 2021.Oil prices extended their rally into the sixth session on fears of a global energy crunch. Gold was little changed while Bitcoin swung between $42,000 and $43,000.U.S. stocks ended mixed overnight and treasury yields rose as investors looked ahead to speeches from several Fed officials and kept a wary eye on the developments surrounding debt-laden China Evergrande.In economic news, new orders for durable goods waltzed past analyst expectations, but much of the gain came from a big jump in aircraft orders.The Dow edged up 0.2 percent, while the S&P 500 eased 0.3 percent and the tech-heavy Nasdaq Composite shed half a percent.European stocks rose on Monday as investors reacted to the German election results and ECB President Christine Lagarde's comments that many causes of inflation spike are temporary.The pan European Stoxx 600 slid 0.2 percent. The German DAX rose 0.3 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both edged up around 0.2 percent.Copyright RTT News/dpa-AFX
28.09.2021

Asian Markets Show Mixed Trend

CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Tuesday, following the mixed cues from Wall Street overnight, with uncertainty of interest rates and the coronavirus infections in the region tempered by support from climbing crude oil prices. The mood also remained somewhat cautious with investors continuing to keep an eye on developments surrounding debt-laden China Evergrande. Asian stocks ended on a mixed note on Monday.The Australian stock market is notably lower on Tuesday, giving up the modest gains in the previous session, with the benchmark S&P/ASX 200 staying above the 7,200 level, following the mixed cues from Wall Street overnight, with weakness in materials and technology stocks partially offset by strength in energy and financial stocks. The domestic coronavirus situation, primarily in New South Wales and Victoria, is also denting investor sentiment.Australia's two biggest cities, Sydney and Melbourne, are also still under lockdown. NSW has reported 863 new locally acquired cases of COVID-19 and seven deaths on Monday. Victoria reported a record 867 new locally acquired cases and four deaths, with the active cases totalling 9,261 across Victoria.The benchmark S&P/ASX 200 Index is losing 71.60 points or 0.97 percent to 7,312.60, after hitting a low of 7,305.60 earlier. The broader All Ordinaries Index is down 74.30 points or 0.97 percent to 7,616.40. Australian stocks closed modestly higher on Monday.Among the major miners, BHP Group is losing almost 1 percent, while Fortescue Metals and Mineral Resources are declining more than 2 percent each. OZ Minerals and Rio Tinto are down more than 1 percent each.Oil stocks are higher after as crude oil prices climbed for its fifth straight day. Santos and Oil Search are gaining almost 3 percent each, while Woodside Petroleum is adding almost 4 percent, Origin Energy is rising more than 4 percent and Beach energy is surging almost 8 percent. Among the big four banks, Commonwealth Bank is gaining almost 1 percent, while ANZ Banking and National Australia Bank are edging up 0.4 percent each. Westpac is edging up 0.1 percent Among tech stocks, Xero is losing almost 5 percent, Appen is declining almost 3 percent, WiseTech Global is lower by more than 3 percent and Afterpay is down more than 1 percent. Gold miners are mostly lower. Gold Road Resources and Resolute Mining are losing almost 2 percent each, while Evolution Mining is declining more than 4 percent, Northern Star Resources is down almost 4 percent and Newcrest Mining is lower by more than 2 percent. In the currency market, the Aussie dollar is trading at $0.730 on Tuesday.The Japanese stock market is modestly lower on Tuesday, extending the slight loss in the previous session, with the benchmark Nikkei index staying above the 30,000 mark, following the mixed cues from Wall Street overnight, with investors being cautious as they awaited a vote on Wednesday that will decide who will be country's next prime minister after incumbent Yoshihide Suga. The domestic coronavirus situation is also a cause of worry, despite the recent decline in case count.The benchmark Nikkei 225 Index closed the morning session at 30,139.65, down 100.41 points or 0.33 percent, after hitting a low of 30,001.99 earlier. Japanese shares closed slightly lower on Monday.Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is up more than 2 percent. Among automakers, Honda is gaining almost 2 percent and Toyota is edging up 0.2 percent.In the tech space, Advantest is gaining more than 4 percent, while Screen Holdings and Tokyo Electron are losing more than 2 percent each. In the banking sector, Mitsubishi UFJ Financial is gaining almost 1 percent, while Mizuho Financial and Sumitomo Mitsui Financial are edging up 0.3 percent each. The major exporters are mixed, with Sony declining almost 1 percent, while Canon is gaining 1.5 percent. Mitsubishi Electric and Panasonic are flat. Among the other major losers, Kawasaki Kisen Kaisha is plummeting more than 15 percent, Nippon Yusen K.K. is plunging more than 11 percent, Mitsui O.S.K. Lines is losing more than 9 percent, M3 is down almost 4 percent and Taiyo Yuden is declining more than 3 percent. Nissan Chemical, CyberAgent, Shionogi & Co., Hitachi Zosen, Toho Zinc, Kikkoman and Yaskawa Electric are lower by almost 3 percent each. Conversely, Impex is gaining 3.5 percent, Eisai is adding more than 3 percent and Credit Saison is up almost 3 percent.In economic news, members of the Bank of Japan's monetary policy board felt that while the country's economy continues to improve, it remains in dire straits because of the Covid-19 pandemic, minutes from the central bank's meeting on July 15 and 16 revealed on Tuesday. Global financial markets remain unsettled but are trending in the right direction as vaccinations fuel a broadly based economic recovery, the minutes showed.The members also said they would continue the monetary easing for as long as necessary in order to consistently achieve the 2 percent inflation target. At the meeting, the BoJ decided to keep its monetary stimulus unchanged and unveiled a preliminary outline for the new program to support efforts on climate change.The bank also lowered its near-term growth outlook citing the impact of the coronavirus pandemic and raised its fiscal 2021 inflation forecast. The board also voted to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.In the currency market, the U.S. dollar is trading in the lower 111 yen-range on Tuesday.Elsewhere in Asia, Hong Kong is gaining 1.6 percent and China is adding 0.3 percent, while New Zealand, Singapore, Taiwan and South Korea are lower by between 0.1 and 0.8 percent. Indonesia and Malaysia are relatively flat.On Wall Street, stocks ended on a mixed note on Monday with investors largely making cautious moves as they looked ahead to speeches from several Fed officials, including Chairman Jerome Powell, and continued to keep an eye on the developments surrounding debt-laden China Evergrande.Among the major averages, the Dow, which rose to 35,061 by mid morning, closed with a gain of 71.37 point or 0.21 percent at 34,869.37. The S&P 500, moved between 4,436.19 and 4,457.30, settled with a loss of 12.37 points or 0.28 percent at 4,443.11, while the Nasdaq settled at 14,969.97, losing 77.73 points or 0.52 percent.Meanwhile, the major European markets closed slightly higher on the day. The U.K.'s FTSE 100 gained 0.17 percent, Germany's DAX climbed 0.27 percent and France's CAC 40 moved up 0.19 percent.Crude oil prices rose sharply on Monday, extending gains to a fifth session amid tighter supplies and signs of rising demand for oil. West Texas Intermediate Crude oil futures for November ended up by $1.47 or 2 percent at $75.45 a barrel.Copyright RTT News/dpa-AFX
28.09.2021

Japanese Market Notably Lower

TOKYO (dpa-AFX) - The Japanese stock market is notably lower on Tuesday, extending the slight loss in the previous session, with the benchmark Nikkei index staying above the 30,000 mark, following the mixed cues from Wall Street overnight, with investors being cautious as they awaited a vote on Wednesday that will decide who will be country's next prime minister after incumbent Yoshihide Suga. The domestic coronavirus situation is also a cause of worry, despite the recent decline in case count.The benchmark Nikkei 225 Index is losing 144.50 points or 0.48 percent to 30,095.56, after hitting a low of 30,001.99 earlier. Japanese shares closed slightly lower on Monday.Market heavyweight SoftBank Group is gaining more than 1 percent and Uniqlo operator Fast Retailing is up more than 2 percent. Among automakers, Honda is gaining almost 2 percent and Toyota is edging up 0.2 percent.In the tech space, Advantest is gaining more than 4 percent, while Screen Holdings and Tokyo Electron are losing more than 2 percent each. In the banking sector, Mitsubishi UFJ Financial is gaining almost 1 percent, while Mizuho Financial and Sumitomo Mitsui Financial are edging up 0.3 percent each. The major exporters are mixed, with Sony declining almost 1 percent, while Canon is gaining 1.5 percent. Mitsubishi Electric and Panasonic are flat. Among the other major losers, Kawasaki Kisen Kaisha is plummeting more than 15 percent, Nippon Yusen K.K. is plunging more than 11 percent, Mitsui O.S.K. Lines is losing more than 9 percent, M3 is down almost 4 percent and Taiyo Yuden is declining more than 3 percent. Nissan Chemical, CyberAgent, Shionogi & Co., Hitachi Zosen, Toho Zinc, Kikkoman and Yaskawa Electric are lower by almost 3 percent each. Conversely, Impex is gaining 3.5 percent, Eisai is adding more than 3 percent and Credit Saison is up almost 3 percent.In economic news, members of the Bank of Japan's monetary policy board felt that while the country's economy continues to improve, it remains in dire straits because of the Covid-19 pandemic, minutes from the central bank's meeting on July 15 and 16 revealed on Tuesday. Global financial markets remain unsettled but are trending in the right direction as vaccinations fuel a broadly based economic recovery, the minutes showed.The members also said they would continue the monetary easing for as long as necessary in order to consistently achieve the 2 percent inflation target. At the meeting, the BoJ decided to keep its monetary stimulus unchanged and unveiled a preliminary outline for the new program to support efforts on climate change.The bank also lowered its near-term growth outlook citing the impact of the coronavirus pandemic and raised its fiscal 2021 inflation forecast. The board also voted to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.In the currency market, the U.S. dollar is trading in the 111 yen-range on Tuesday.On Wall Street, stocks ended on a mixed note on Monday with investors largely making cautious moves as they looked ahead to speeches from several Fed officials, including Chairman Jerome Powell, and continued to keep an eye on the developments surrounding debt-laden China Evergrande.Among the major averages, the Dow, which rose to 35,061 by mid morning, closed with a gain of 71.37 point or 0.21 percent at 34,869.37. The S&P 500, moved between 4,436.19 and 4,457.30, settled with a loss of 12.37 points or 0.28 percent at 4,443.11, while the Nasdaq settled at 14,969.97, losing 77.73 points or 0.52 percent.Meanwhile, the major European markets closed slightly higher on the day. The U.K.'s FTSE 100 gained 0.17 percent, Germany's DAX climbed 0.27 percent and France's CAC 40 moved up 0.19 percent.Crude oil prices rose sharply on Monday, extending gains to a fifth session amid tighter supplies and signs of rising demand for oil. West Texas Intermediate Crude oil futures for November ended up by $1.47 or 2 percent at $75.45 a barrel.Copyright RTT News/dpa-AFX
28.09.2021

China Stock Market May Extend Monday's Losses

BEIJING (dpa-AFX) - The China stock market headed south again on Monday, one session after snapping the three-day losing streak in which it had climbed more than 35 points or 1 percent. The Shanghai Composite Index now rests just above the 3,580-point plateau and it may take further damage on Tuesday.The global forecast for the Asian markets is unclear, with uncertainty of interest rates and the coronavirus tempered by support from crude oil prices. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets figure to split the difference.The SCI finished modestly lower on Friday following losses from the resource and property stocks, while the financials came in mixed.For the day, the index lost 30.24 points or 0.84 percent to finish at 3,582.83 after trading between 3,559.92 and 3,640.81. The Shenzhen Composite Index dropped 27.68 points or 1.14 percent to end at 2,406.56.Among the actives, Industrial and Commercial Bank of China dipped 0.22 percent, while China Construction Bank shed 0.51 percent, China Merchants Bank collected 0.66 percent, Bank of Communications lost 0.45 percent, China Life Insurance rallied 2.90 percent, Jiangxi Copper plunged 5.03 percent, Aluminum Corp of China (Chalco) plummeted 9.92 percent, Yanzhou Coal climbed 1.34 percent, PetroChina soared 4.02 percent, China Petroleum and Chemical (Sinopec) tumbled 1.76 percent, Huaneng Power tanked 4.21 percent, China Shenhua Energy rose 0.14 percent, Gemdale retreated 3.96 percent, Poly Developments declined 3.80 percent, China Vanke sank 2.51 percent and China Fortune Land and Bank of China were unchanged.The lead from Wall Street is murky as the major averages opened mixed on Monday and finished the same way.The Dow added 71.37 points or 0.21 percent to finish at 34,869.37, while the NASDAQ sank 77.73 points or 0.52 percent to close at 14,969.97 and the S&P 500 fell 12.37 points or 0.28 percent to end at 4,443.11.The choppy performance of Wall Street came as traders were cautious, looking ahead to speeches from several Fed officials, including Chairman Jerome Powell.Uncertainty regarding the debt-laden China Evergrande added to the cautious sentiment.In economic news, the Commerce Department said new orders for U.S. manufactured durable goods increased more than expected in August.Crude oil prices rose sharply on Monday, extending gains to a fifth session amid tighter supplies and signs of rising demand for oil. West Texas Intermediate Crude oil futures for November ended up by $1.47 or 2 percent at $75.45 a barrel.Copyright RTT News/dpa-AFX
27.09.2021

U.S. Stocks Retreat After Positive Start, Close On Mixed Note

WASHINGTON (dpa-AFX) - U.S. stocks ended on a mixed note on Monday with investors largely making cautious moves as they looked ahead to speeches from several Fed officials, including Chairman Jerome Powell, and continued to keep an eye on developments surrounding debt-ladenAmong the major averages, the Dow, which rose to 35,061 by mid morning, closed with a gain of 71.37 point or 0.21 percent at 34,869.37. The S&P 500, moved between 4,436.19 and 4,457.30, settled with a loss of 12.37 points or 0.28 percent at 4,443.11, while the Nasdaq settled at 14,969.97, losing 77.73 points or 0.52 percent.Financials and energy stocks gained in strength, while technology stocks drifted lower, weighed down by rising treasury yields.A report released by the Commerce Department showed new orders for U.S. manufactured durable goods increased by much more than expected in the month of August, jumping by 1.8 percent, after rising by a revised 0.5 percent in July.Economists had expected durable goods orders to increase by 0.6 percent compared to the 0.1 percent dip that had been reported for the previous month.Excluding a spike in orders for transportation equipment, durable goods orders edged up by 0.2 percent in August after climbing by 0.8 percent in July.Chevron, JP Morgan Chase and Goldman Sachs rose 2.3 to 2.5 percent. Walt Disney, Caterpillar, Boeing, 3M, Intel and IBM closed on a positive note.Salesforce.com, Microsoft, Procter & Gamble, Alphabet, PepsiCo, Cisco and Apple ended notably lower.Dollar Tree, Tesla, AMD, Walgreen Boots, eBay, Intel and Sirius XM closed with sharp moderate gains.In overseas trading, Asian stocks ended on a mixed note on Monday as investors weighed the implications of surging energy prices and risks from the Chinese financial system.The major European stocks closed slightly higher with investors largely making cautious moves, reacting to the results of the German federal election, and ECB President Christine Lagarde's comments that inflation in the euro area could exceed projections but price increases are likely be temporary.Olaf Scholz of the center-left Social Democrats defeated Chancellor Angela Merkel's conservatives in an extremely tight German federal election, setting in motion what could be months of complex coalition talks to decide who will lead Europe's biggest economy.The left wing Die Linke party fell below the 5% threshold needed to enter parliament.Copyright RTT News/dpa-AFX
27.09.2021

Swiss Market Ends Notably Lower

BRUSSELS (dpa-AFX) - The Switzerland stock market started off on a firm note Monday morning, but swiftly turned easy and slipped into negative territory and stayed weak thereafter to end the session notably lower.The benchmark SMI ended with a loss of 126.02 points or 1.07% at 11,691.18, the day's low. In early trades, the index advaned to 11,881.61.Sika declined 4.7%, Geberit shed about 3.6% and Givaudan slid 3.1%. Lonza Group, Partners Group and SGS declined 2.2 to 2.8%.Logitech, Nestle, Alcon, Richemont and ABB ended lower by 1 to 1.9%, Swisscom and Roche Holding also closed notably lower.Credit Suisse climbed nearly 2.5%. Holcim, Swiss Re and UBS Group gained 1.2 to 1.5%, while Swiss Life Holding and Zurich Insurance Group gained about 1% and 0.65%, respectively.In the Swiss Mid Price Index, Tecan Group tumbled more than 7%, VAT Group slid 6.25% and Galenica Sante lost 5.8%.Straumann Holding, SIG Combibloc, Kuehne & Nagel, Ems Chemie Holding and Sonova lost 2.7 to 5%. Logitech, Schindler Ps, OC Oerlikon Corp and Schindler Holding also declined sharply.Dufry gained nearly 5%. Flughafen Zurich and Helvetia rallied 3.3% and 2.6%, respectively. Julius Baer gained more than 2%, while Temenos Group and Baloise Holding both ended higher by 1.65%.Copyright RTT News/dpa-AFX
27.09.2021

European Markets Close Mostly Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The major European stocks closed slightly higher on Monday with investors largely making cautious moves, reacting to the results of the German federal election, and ECB President Christine Lagarde's comments that inflation in the euro area could exceed projections but price increases are likely be temporary.Olaf Scholz of the center-left Social Democrats defeated Chancellor Angela Merkel's conservatives in an extremely tight German federal election, setting in motion what could be months of complex coalition talks to decide who will lead Europe's biggest economy.The left wing Die Linke party fell below the 5% threshold needed to enter parliament.The U.K.'s FTSE 100 gained 0.17%, Germany's DAX climbed 0.27% and France's CAC 40 moved up 0.19%, while Switzerland's SMI tumbled 1.07%. The pan European Stoxx 600 edged down 0.19%.Among other markets in Europe, Austria, Belgium, Czech Republic, Greece, Iceland, Norway, Portugal, Russia, Spain and Turkey closed higher.Denmark, Finland, Ireland, Netherlands and Sweden drifted lower, while Poland ended flat.In the UK market, energy stocks moved higher as Brent futures headed for $80 per barrel on supply concerns and amid optimism over rising demand. Royal Dutch Shell, BP and TotalEnergies all closed with strong gains. BP said that nearly a third of its British petrol stations had run out of the main grades at almost a third of its stations following intense demand and a shortage of truck drivers.Rolls-Royce Holdings shares soared more than 11% after the aerospace company was selected to provide the powerplant for the B-52 Stratofortress under the Commercial Engine Replacement Program.IAG climbed 6%. British Land, Compass Group, Land Securities, Associated British Foods, HSBC Holdings, Prudential, BT Group and Whitbread gained 2 to 4%.Experian, Halma, Croda International, Spirax-Sarco Engineering, RightMove, Admiral Group, Astrazeneca, Segro, Intertek Group, Rentokil Initial, JD Sports Fashion and Smith (DS) declined 2 to 4.5%.In the French market, Unibail Rodamco, Technip, Air France-KLM and Accor gained 5 to 7%. Vinci, Credit Agricole, Sodexo, Safran, Societe Generale, BNP Paribas, Thales and Renault moved up 2.5 to 4%.Biocorp shares rose sharply after the medical devices company announced an agreement with Danish pharmaceutical company Novo Nordisk A/S (NVO) for the development and distribution of a Mallya smart add-on device for the Novo Nordisk FlexTouch pen used by people with diabetes.Teleperformance, Dassault Systemes and Hermes International ended lower by 3 to 4%.In Germany, BASF rallied sharply after it signed a Memorandum of Understanding with Sanyo Chemical for the joint development and access to technologies to create advanced polyurethane dispersions.Deutsche Bank, MTU Aero Engines, Henkel, Daimler, Vonovia, Allianz, Bayer, Continental, Airbus Group, Munich RE, BMW, Porsche Automobil, Volkswagen and Covestro gained 1 to 2.5%.Zooplus gained more than 4% after Swedish private equity firm EQT AB made an offer to buy the online pet supplies' retailer for about 3.36 billion euros ($3.94 billion).HelloFresh, Merck, Symrise, Zalando, Deutsche Post, Adidas and Sartorius ended lower by 1 to 4%. Sartorius announced that it plans to expand its presence in Michigan by opening a new 130,000-square-foot state-of-the art plant in Ann Arbor in late 2023.European Central Bank President Christine Lagarde said Monday that it was possible that the euro area inflation could become stronger, but the risks of such a scenario were limited.'While inflation could prove weaker than foreseen if economic activity were to be affected by a renewed tightening of restrictions, there are some factors that could lead to stronger price pressures than are currently expected,' Lagarde said at a virtual hearing of the European Parliament.Eurozone money supply growth accelerated in August, while credit to the private sector slowed further, data published by the European Central Bank showed on Monday.The broad money supply M3 grew 7.9% year-on-year in August, following July's 7.6% increase. M3 was forecast to advance 7.8%.As regards the dynamics of credit, data showed that credit to the private sector logged an annual growth of 3.1%, slower than the 3.4% increase in July. Adjusted loans to the private sector also grew at a slower pace of 2.9% after climbing 3% in July.Germany's inflation is likely to rise sharply from the current level due to the VAT reduction in the previous year, Bundesbank said in its monthly report on Monday.'From today's perspective, rates between 4% and 5% are temporarily possible from September until the end of the year' the bank said.Copyright RTT News/dpa-AFX
27.09.2021

Wall Street Targets To Open Broadly Lower

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - This week's trading might be impacted by reaction to reports on durable goods orders, consumer confidence, personal income, and spending and manufacturing activity.Congress will vote on the $1 trillion infrastructure bill on Thursday. Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower. Asian shares finished mixed, while European shares are trading broadly higher. As of 7.55 am ET, the Dow futures were up 64.00 points, the S&P 500 futures were declining 4.75 points and the Nasdaq 100 futures were down 84.25 points.The U.S. major averages ended Friday's session narrowly mixed. While the Nasdaq edged down 4.55 points or less than a tenth of a percent to 15,047.70, the Dow crept up 33.18 points or 0.1 percent to 34,798.00, and the S&P 500 ticked up 6.50 points or 0.2 percent to 4,455.48.On the economic front, the Commerce Department's Durable Goods Orders for August will be issued at 8.30 am ET. The consensus is for an increase of 0.6 percent, while it was down 0.1 percent in the prior month. The Dallas Fed Manufacturing Survey for September is scheduled at 10.30 am ET. The consensus is for an increase of 11.0, while it was up 9.0 in August. A two-year Treasury Note Auction will be held at 11.30 am ET. A five-year Treasury Note auction will be held at 1.00 pm ET. New York Federal Reserve Bank President John Williams to speak via Webinar at New York Fed Web Series on Culture: Culture Diagnosis and Behavior ChangeLearnings from the Field at 9.00 am ET. New York Federal Reserve Bank President John Williams to speak via Webinar to Economic Club of New York at 12.00 pm ET. Asian stocks ended Monday's session on a mixed note. China's Shanghai Composite index fell 30.24 points, or 0.84 percent, to 3,582.83. Hong Kong's Hang Seng index ended little changed at 24,208.78.Japanese markets ended marginally lower. Australian markets advanced. The benchmark S&P/ASX 200 rose 41.60 points, or 0.57 percent, to 7,384.20 while the broader All Ordinaries index ended up 41.40 points, or 0.54 percent, at 7,690.70.European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 18.44 points or 0.28 percent. The German DAX is adding 67.24 points or 0.43 percent, the U.K. FTSE 100 Index is losing 3.50 points or 0.05 percent. The Swiss Market Index is sliding 90.45 points or 0.77 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is progressing 0.26 percent.Copyright RTT News/dpa-AFX
27.09.2021

European Shares Rise On German Election Relief

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were moving higher on Monday as it looked unlikely a leftist coalition would take power.Olaf Scholz of the center-left Social Democrats defeated Chancellor Angela Merkel's conservatives in an extremely tight election, setting in motion what could be months of complex coalition talks to decide who will lead Europe's biggest economy.The left wing Die Linke party fell below the 5 percent threshold needed to enter parliament.The pan European Stoxx 600 edged up 0.4 percent to 464.91 after declining 0.9 percent on Friday. The German DAX rallied 0.9 percent, France's CAC 40 index gained 0.7 percent and the U.K.'s FTSE 100 was up 0.3 percent. Spain's Cellnex Telecom tumbled 3.8 percent after Citigroup downgraded its rating on the stock to 'sell', citing valuation concerns.Sartorius AG rose over 1 percent. The German laboratory and pharmaceutical equipment provider announced its plan to expand its presence in Michigan by opening a new 130,000-square-foot state-of-the art plant in Ann Arbor in late 2023.TotalEnergies, BP Plc and Royal Dutch Shell all rose over 3 percent as Brent futures headed for $80 per barrel on supply concerns and amid optimism over rising demand.IWG shares jumped nearly 7 percent after reports that the office rental firm is considering splitting into several different companies.Petrofac soared 22 percent. The oilfield services company said it reached a plea agreement with the U.K. Serious Fraud Office in relation to its investigation into the company's failure to prevent bribery.Rolls Royce Holdings climbed 7.1 percent after the aerospace company was selected to provide the powerplant for the B-52 Stratofortress under the Commercial Engine Replacement Program.Biocorp shares climbed 4.5 percent in Paris. The medical devices company announced an agreement with Danish pharmaceutical company Novo Nordisk A/S (NVO) for the development and distribution of a Mallya smart add-on device for the Novo Nordisk FlexTouch pen used by people with diabetes.Germany's BASF advanced 1.8 percent after it signed a Memorandum of Understanding with Sanyo Chemical for the joint development and access to technologies to create advanced polyurethane dispersions.Zooplus gained more than 4 percent after Swedish private equity firm EQT AB made an offer to buy the online pet supplies' retailer for about 3.36 billion euros ($3.94 billion).Copyright RTT News/dpa-AFX
27.09.2021

FTSE 100 Rises As Brent Oil Nears $80 A Barrel

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Monday as a surge in crude prices boosted energy stocks. The benchmark FTSE 100 was up 27 points, or 0.4 percent, at 7,078 after declining 0.4 percent on Friday. BP Plc rallied 3 percent and Royal Dutch Shell added 3.3 percent as Brent futures headed for $80 per barrel on supply concerns and amid optimism over rising demand. IWG shares jumped nearly 7 percent after reports that the office rental firm is considering splitting into several different companies. Petrofac soared 21 percent. The oilfield services company said it reached a plea agreement with the U.K. Serious Fraud Office in relation to its investigation into the company's failure to prevent bribery.Rolls Royce Holdings climbed 7.1 percent after the aerospace company was selected to provide the powerplant for the B-52 Stratofortress under the Commercial Engine Replacement Program.Hikma Pharmaceuticals advanced 1.3 percent after it announced an agreement to buy Custopharm Inc. from Water Street Healthcare Partners.Copyright RTT News/dpa-AFX
28.09.2021

German Consumer Confidence To Improve In October

BERLIN (dpa-AFX) - German consumer confidence is set to improve in October, survey results from the market research group GfK showed on Tuesday. The forward-looking consumer confidence index rose to +0.3 points from -1.1 in September. The score was forecast to fall further to -1.5. GfK said the consumer climate has reached its highest level in almost a year and a half. Even if the consumer climate has almost reached its pre-crisis level, it remains to be seen whether we can speak of a fundamental trend reversal,' Rolf Bürkl, GfK consumer expert, said. 'What matters here is how the infection process will develop in the winter months and whether new restrictions will be necessary.'Both economic and income expectations as well as the propensity to buy advanced in September. The economic sentiment indicator gained 7.7 points to 48.5 points in September. Likewise, the income indicator climbed 6.9 points to 37.4.After a plus of 3.1 points, the propensity to buy indicator currently showed a value of 13.4 points.Copyright RTT News/dpa-AFX
28.09.2021

Dutch Producer Confidence Improves In September

AMSTERDAM (dpa-AFX) - Dutch producer confidence improves in September, data from the Central Bureau of Statistics showed on Tuesday.The producer sentiment index rose to 11.1 in September from 9.6 in August. This was above the average score of 0.5 seen over the past twenty years.Producers opinions about the order position and stocks of finished goods remained hardly unchanged, the agency said.There were more entrepreneurs who expected their production to increase in the coming three months, the agency said.The producers in the textile and clothing industry were more positive in September.Copyright RTT News/dpa-AFX
28.09.2021

China Industrial Profits Growth Slows In August

BEIJING (dpa-AFX) - China's industrial profits continued to grow at a slower pace as higher input prices as well as shortage of materials lifted production cost, the National Bureau of Statistics reportedly said Tuesday.Industrial profits increased 10.1 percent year-on-year in August, following an annual growth of 16.4 percent in July. During January to August period, industrial profits advanced 49.5 percent from the same period last year. The sustained and stable recovery of corporate profits is facing many challenges, Zhu Hong, an economist at the NBS said. The economist cited regional outbreak of virus, high commodity prices, elevated international logistics cost and the shortages of chips as reasons for higher corporate cost.Copyright RTT News/dpa-AFX
28.09.2021
28.09.2021

Bank Of Japan Minutes On Tap For Tuesday

CANBERA (dpa-AFX) - The Bank of Japan will on Tuesday release the minutes from the monetary policy meeting on July 15 and 16, highlighting a modest day for Asia-Pacific economic activity.At the meeting, the BoJ decided to keep its monetary stimulus unchanged and unveiled a preliminary outline for the new program to support efforts on climate change. The bank also lowered its near-term growth outlook citing the impact of the coronavirus pandemic and raised its fiscal 2021 inflation forecast. The board also voted to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.Australia will provide August figures for retail sales; in July, sales were down 2.7 percent on month.Hong Kong will release August numbers for imports, exports and trade balance. In July, imports were up 26.1 percent and exports rose an annual 26.9 percent for a trade deficit of HKD34.9 billion.Copyright RTT News/dpa-AFX
27.09.2021

ECB's Lagarde Says Eurozone Inflation Could Move Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European Central Bank President Christine Lagarde said Monday that it was possible that the euro area inflation could become stronger, but the risks of such a scenario were limited. 'While inflation could prove weaker than foreseen if economic activity were to be affected by a renewed tightening of restrictions, there are some factors that could lead to stronger price pressures than are currently expected,' Lagarde said at a virtual hearing of the European Parliament. Prolonged supply shortages could lead to higher prices and stronger inflation could also result in higher than anticipated wage demands, the ECB chief said. 'But we are seeing limited signs of this risk so far, which means that our baseline scenario continues to foresee inflation remaining below our target over the medium term,' Lagarde added. Eurozone inflation hit a decade-high 3.0 percent in August. Early this month, the ECB raised the headline inflation projection for this year to 2.2 percent and the outlook for next year was lifted to 1.7 percent. The projection for 2023 was raised to 1.5 percent. Projections for core Inflation, which excludes food and energy prices, were raised to 1.3 percent this year, 1.4 percent in 2022 and 1.5 percent in 2023.Lagarde said the recent increase in underlying price pressures is consistent with the opening up of the economy, which remains some distance away from operating at full capacity.In September, the ECB decided to slow the pace of its emergency asset purchases, which were launched last year to support the economy amid the Covid-19 crisis, as policymakers worry higher inflation may last long.Elsewhere on Monday, ECB policymaker Mario Centeno told CNBC that the central bank need to be 'very conservative' in the way it deals with higher inflation so as not to repeat past mistakes. The Portuguese central banker said the economy was not out of the woods yet and it was essential to maintain favorable financing conditions to all sectors.Copyright RTT News/dpa-AFX
27.09.2021

U.S. Durable Goods Orders Jump 1.8% In August, Much More Than Expected

WASHINGTON (dpa-AFX) - New orders for U.S. manufactured durable goods increased by much more than expected in the month of August, according to a report released the Commerce Department on Monday.The report said durable goods orders jumped by 1.8 percent in August after rising by a revised 0.5 percent in July.Economists had expected durable goods orders to increase by 0.6 percent compared to the 0.1 percent dip that had been reported for the previous month.The bigger than expected increase in durable goods orders was largely due to a spike in orders for transportation equipment, which shot up by 5.5 percent in August after dipping by 0.4 percent in July.Orders for non-defense aircraft and parts led the way higher, soaring by 77.9 percent in August after plunging by 36.3 percent in July.Excluding the rebound in orders for transportation equipment, durable goods orders edged up by 0.2 percent in August after climbing by 0.8 percent in July.Notable increases in orders for fabricated metal products, computers and electronic products and electrical equipment, appliances and components were partly offset by a drop in orders for machinery.The report said new orders for non-defense capital goods excluding aircraft, a closely watched indicator of business spending, climbed by 0.5 percent in August after rising by 0.3 percent in July.Copyright RTT News/dpa-AFX
27.09.2021

Germany Inflation To Rise Up To 5% Temporarily, Says Bundesbank

BERLIN (dpa-AFX) - Germany's inflation is likely to rise sharply from the current level due to the VAT reduction in the previous year, Bundesbank said in its monthly report on Monday. 'From today's perspective, rates between 4 percent and 5 percent are temporarily possible from September until the end of the year' the bank said.However, economists expect inflation to fall noticeably at the beginning of next year, but will remain above 2 percent by the middle of the year. The central bank said the German economy continued the recovery that began in the spring at a faster pace. Overall, economic output is likely to grow more strongly in the third quarter than in the spring, the experts noted. Nonetheless, the central bank estimated that it will not reach the pre-crisis level of the fourth quarter of 2019 in the summer due to the supply-side difficulties in industry.Copyright RTT News/dpa-AFX
28.09.2021

Euro Little Changed After German Gfk Consumer Confidence Index

BRUSSELS (dpa-AFX) - At 2.00 am ET Tuesday, Germany's market research group GfK has released consumer sentiment survey results. The euro changed little against its major rivals after the data.The euro was trading at 1.1701 against the greenback, 130.13 against the yen, 0.8531 against the pound and 1.0840 against the franc around 2:04 am ET.Copyright RTT News/dpa-AFX
28.09.2021

Euro Mixed Ahead Of German Gfk Consumer Confidence Index

BRUSSELS (dpa-AFX) - At 2.00 am ET Tuesday, Germany's market research group GfK is scheduled to issue consumer sentiment survey results. The forward-looking index is seen falling to -1.6 in October from -1.2 in September.Ahead of the data, the euro traded mixed against its major rivals. While it fell against the pound, it rose against the rest of major rivals.The euro was worth 1.1699 against the greenback, 130.10 against the yen, 0.8532 against the pound and 1.0841 against the franc as of 1:55 am ET.Copyright RTT News/dpa-AFX
27.09.2021

Dollar Turns In Mixed Performance Against Major Rivals

WASHINGTON (dpa-AFX) - The U.S. dollar turned in a mixed performance against its major rivals on Monday as traders looked for directional clues.The yield on long term Treasury Notes rose to 1.47%, as investors awaited speeches from several Fed officials this week for clues on when the central bank could taper its pandemic-era economic support. Jerome Powell is also scheduled to make a speech this week.New orders for U.S. manufactured durable goods increased by much more than expected in the month of August, according to a report released the Commerce Department on Monday.The report said durable goods orders jumped by 1.8% in August after rising by a revised 0.5% in July.Economists had expected durable goods orders to increase by 0.6% compared to the 0.1% dip that had been reported for the previous month.Excluding a spike in orders for transportation equipment, durable goods orders edged up by 0.2% in August after climbing by 0.8% in July.The dollar index, which dropped to 93.21 in the Asian session, recovered subsequently and was last seen at 93.41, up nearly 0.1% from the previous close.Against the Euro, the dollar firmed to 1.1698 from 1.1721.The Pound Sterling strengthened against the dollar, fetching $1.3698 a unit, up from $1.3676.The Yen weakened to 111.01, dropping from 110.74 a dollar.Against the Aussie, the dollar weakened to 0.7286 from 0.7262.The Swiss franc slid to 0.9259 a dollar from 0.9244, while the Loonie firmed to 1.2629 a dollar from around 1.2650.Copyright RTT News/dpa-AFX
27.09.2021

Dollar Little Changed After U.S. Durable Goods Orders

BRUSSELS (dpa-AFX) - The U.S. durable goods orders for August have been published at 8:30 am ET Monday. The greenback changed little against its major counterparts after the data. The greenback was trading at 110.99 against the yen, 1.1699 against the euro, 1.3696 against the pound and 0.9281 against the franc around 8:35 am ET.Copyright RTT News/dpa-AFX
27.09.2021

Dollar Mixed Ahead Of U.S. Durable Goods Orders

BRUSSELS (dpa-AFX) - The U.S. durable goods orders for August are due at 8:30 am ET Monday. The greenback traded mixed against its major counterparts before the data. While it rose against the yen, it held steady against the euro and the franc. Against the pound, it dropped.The greenback was worth at 110.97 against the yen, 1.1700 against the euro, 1.3696 against the pound and 0.9277 against the franc at 8:25 am ET.Copyright RTT News/dpa-AFX
27.09.2021

Euro Drops As Social Democrats Defeat Conservatives In Tight German Election

CANBERA (dpa-AFX) - The euro drifted lower against its most major counterparts in the European session on Monday, as the Social Democrats secured a narrow victory in German parliamentary elections held on Sunday, marking an end to Conservative leadership for 16 years under outgoing Chancellor Angela Merkel.Provisional results showed that Social Democrats got 25.7 percent of the vote, followed by Christian Democrats with a score of 24.1 percent.Both the conservative bloc and the SPD claimed that they have mandate to form the government.With the SPD lacking a majority, a coalition government involving the Greens and Free Democrats could be a possible option.Merkel will take a caretaker role until the formation of a coalition government that is likely to drag for months.Data from the European Central Bank showed that Eurozone money supply growth accelerated in August, while credit to the private sector slowed further.The broad money supply M3 grew 7.9 percent year-on-year in August, following July's 7.6 percent increase. M3 was forecast to advance 7.8 percent. The euro showed mixed trading against its major peers in the Asian session, by falling against the franc and rising against the yen and the pound. Versus the greenback, it was steady.The euro fell to a 1-week low of 0.8528 against the pound, after a 4-day rise to 0.8579 at 5 pm ET. The euro-pound pair had finished last week's trading session at 0.8562. Should the euro falls further, it is likely to test support around the 0.84 region. The euro lost 0.3 percent to reach a 4-day low of 1.1684 against the greenback. The pair had closed Friday's deals at 1.1720. The euro is seen finding support around the 1.15 mark. The European currency pulled back to 129.48 against the yen, after having climbed to nearly a 2-week high of 129.86 at 7 pm ET. The EUR/JPY pair was worth 129.79 when it ended deals on Friday. Next near term support for the euro is likely seen around the 127.5 level. Final data from the Cabinet Office showed that Japan's leading index decreased in July as initially estimated.The leading index, which measures the future economic activity, fell to 104.1 in July from 104.6 in June, as initially estimated.The euro weakened to its lowest level since August 16 against the loonie, at 1.4765. The euro was trading at 1.4819 per loonie at last week's close. Immediate support for the euro is likely seen around the 1.46 area. The euro reached as low as 1.6079 against the aussie in the Asian session and has held steady since then. The euro-aussie pair was worth 1.6133 at Friday's close.The single currency eased off from an Asian session's 4-day high of 1.6750 against the kiwi, with the pair worth 1.6669. At last week's trading close, the pair was quoted at 1.6700. Further fall in the currency may challenge support around the 1.62 level. The euro, however, bounced off to 1.0865 against the franc, following a 4-day drop to 1.0819 at 5 pm ET. At Friday's close, the pair was valued at 1.0832. The euro is likely to test resistance around the 1.10 region, if it rises again.Looking ahead, U.S. durable goods orders for August will be featured in the New York session.Copyright RTT News/dpa-AFX
27.09.2021

Australian, NZ Dollars Advance Amid Rising Oil Prices, Stimulus Hopes

CANBERA (dpa-AFX) - The Australian and NZ dollars climbed against their major counterparts in the Asian session on Monday, as oil prices surged and investors focused on progress in infrastructure talks in Washington as well as a potential government shutdown.Oil prices climbed amid indications about a tightening of the crude market led by a global energy crisis.U.S. House of Representatives Speaker Nancy Pelosi said the chamber is likely to pass $1 trillion infrastructure bill this week.Pelosi added that she is trying to settle differences over $3.5 trillion reconciliation bill, as moderate and progressive Democrats disagree with price tag of the bill.The House passed a continuing resolution last week to fund the government and avert a debt ceiling crisis before the October 1 deadline.The aussie advanced to 0.7290 against the greenback, 80.67 against the yen and 1.6079 against the euro, up from its early lows of 0.7250, 80.22 and 1.6150, respectively. The aussie is seen locating resistance around 0.74 against the greenback, 82.00 against the yen and 1.58 against the euro.The aussie appreciated to more than a 2-week high of 1.0377 against the kiwi, from a low of 1.0340 seen at 5:15 pm ET. If the aussie rises further, it may find resistance around the 1.06 level.The aussie rebounded from an early nearly 5-week low of 0.9171 against the loonie, with the pair trading at 0.9203. The aussie is likely to face resistance around the 0.94 area.The kiwi was up at 0.7033 against the greenback, 77.82 against the yen and 1.6670 against the euro, following its prior 4-day lows of 0.6993, 77.43 and 1.6750, respectively. On the upside, resistance is likely seen around 0.72 against the greenback, 80.00 against the yen and 1.64 against the euro.Looking ahead, U.S. durable goods orders for August will be featured in the New York session.Copyright RTT News/dpa-AFX
24.09.2021

Japanese Yen Appreciates Amid China's Crackdown On Crypto, Evergrande Fears

CANBERA (dpa-AFX) - The Japanese yen climbed against its most major counterparts in the European session on Friday, with China's crackdown on cryptocurrency industry and uncertainty about bond payments by China Evergrande Group denting sentiment.Chinese authorities said that all digital currency activities are illegal and it would prevent financial institutions and companies from offering services to activities and operations related to these currencies.Evergrande worries continued as it failed to make payments to all its bondholders by the prescribed deadline on Thursday.Evergrande's stocks tumbled in Hong Kong, sending ripples across broader Chinese and European equity markets.Data from the Ministry of Communications and Internal Affairs showed that Japan overall inflation fell 0.4 percent on year in August - shy of expectations for -0.3 percent, which would have been unchanged from the July reading.Core consumer prices, which exclude volatile food costs, was unchanged on year. That matched forecasts following the 0.2 percent annual decline in the previous month.The yen rose to 129.38 against the euro and 151.00 against the pound, off its early 10-day low of 129.76 and a 1-week low of 151.73, respectively. The yen is seen finding resistance around 128.00 against the euro and 149.00 against the pound.The yen edged up to 77.46 against the kiwi and 80.00 against the aussie, rising from its previous 10-day lows of 78.16 and 80.77, respectively. On the upside, 76.00 and 78.00 are possibly seen as the next resistance levels for the yen against the kiwi and the aussie, respectively.The yen recovered slightly to 119.47 against the franc, after touching 119.74, which was its lowest level since September 13. The yen may face resistance around the 118.00 region.In contrast, the yen weakened to 110.70 against the greenback, setting a 1-1/2-month low. The yen is likely to target support around the 112.00 mark.The yen fell back to 87.30 against the loonie, not far from Asian session's more than a 2-week low of 87.32. If the yen slides further, 89.00 is likely seen as its next support level.Copyright RTT News/dpa-AFX
24.09.2021

U.S. Dollar Firms On Early Fed Rate Hike Hopes

CANBERA (dpa-AFX) - The U.S. dollar gained ground against its major counterparts in the early European session on Friday, as investors brought forward their forecasts for a Fed rate hike to 2022 after it indicated an upcoming reduction in the bond buying program.Nine of the 18 Federal Open Market Committee members favored a rate hike next year, up from seven in the June meeting. Investors are pricing in a quarter-point rate hike by the end of 2022 following the hawkish Fed statement.The central bank signaled that it would trim its asset purchase program as soon as November and conclude by mid-2022.Evergrande worries persisted as some of its offshore bondholders did not get the coupon payment due on Thursday.U.S. treasury yields spiked up following the Fed's announcement to reduce its bond purchases soon.The yield on the benchmark 10-year Treasury note rose to 1.432 percent.The greenback edged up to 1.3702 against the pound, 0.9261 against the franc and 1.1731 against the euro, after falling to 1.3736, 0.9230 and 1.1748, respectively in early trades. The greenback is seen finding resistance around 1.34 against the pound, 0.94 against the franc and 1.15 against the euro.The greenback approached 110.57 against the yen, its strongest level since August 11. On the upside, 112.00 is possibly seen as its next resistance level. The greenback rose to 1.2698 against the loonie, 0.7043 against the kiwi and 0.7269 against the aussie, up from its prior lows of 1.2641 and 0.7081 and a 1-week low 0.7317, respectively. Next immediate resistance for the greenback is located around 1.29 against the loonie, 0.69 against the kiwi and 0.70 against the aussie.U.S. new home sales for August will be published in the New York session.Copyright RTT News/dpa-AFX
24.09.2021

Australian Dollar Eases Amid Evergrande Worries

CANBERA (dpa-AFX) - The Australian dollar retreated from its early highs against its most major counterparts in the Asian session on Friday, amid renewed concerns over financial crisis at China Evergrande Group and its impact on the economy.Evergrande's shares fell after it missed interest payment that was due on Thursday.The developer has not yet indicated whether it will be able to make interest payments on March 2022 bond to avoid a default.There is no signal from Chinese authorities to offer financial support to Evergrande for the bond payment.Investors digested the Fed statement indicating an upcoming reduction in bond purchases and opening the door for a rate hike in 2022.The aussie pulled back to 0.7289 against the greenback, 80.43 against the yen and 1.6104 against the euro, down from its early 1-week high of 0.7317, 10-day highs of 80.77 and 1.6054, respectively. The next likely support for the aussie is seen around 0.70 against the greenback, 79.00 against the yen and 1.64 against the euro.The aussie pared gains to 1.0320 against the kiwi, from a high of 1.0337 hit at 8:30 pm ET. The aussie may locate support around the 1.01 level.Data from Statistics New Zealand showed that New Zealand posted a record monthly merchandise trade deficit of NZ$2.144 billion in August.That follows the upwardly revised NZ$397 million shortfall in July.In contrast, the aussie held firm against the loonie, with the pair trading at 0.9251. The aussie is seen finding resistance around the 0.94 region.Looking ahead, German Ifo business sentiment index for September is due in the European session.U.S. new home sales for August will be published in the New York session.Copyright RTT News/dpa-AFX

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