dpa-AFX NEWSTICKER (product sample)

26.04.2018

L.G. Electronics Q1 Net Profit Down

SEOUL (dpa-AFX) - L.G. Electronics Inc. (LGEPF.OB, LGEJY.OB, LGEIY.OB, LGEAF.OB) Thursday reported first quarter net income of 729.9 billion Korean Won, down from 835.7 billion Won a year ago. On a pre-tax basis, earnings were 969 million Won. Net sales for the quarter edged up to 15.123 trillion Won from 14.657 trillion Won a year ago. Looking ahead to the second quarter the company expects television demand to increase year on year.Copyright RTT News/dpa-AFX
26.04.2018

Vale S.A Q1 Profit Down, Despite Higher Sales

BRASILIA (dpa-AFX) - Brazilian metals and mining company Vale S.A. (VALE) reported that its first-quarter net income declined to $1.59 billion from last year's $2.49 billion.Underlying earnings were $1.79 billion, compared to $2.23 billion a year ago. Underlying earnings per share were $0.37, compared to $0.40 last year.Adjusted EBIT margin dropped to 36% from last year's 39.9 percent. Adjusted EBITDA declined to $3.97 billion from $4.31 billion last year. Adjusted EBITDA margin dropped to 46.2 percent from 50.6 percent a year ago.Net operating revenues increased to $8.60 billion from prior year's $8.52 billion.The increase in sales revenues was mainly due to higher sales volumes for Ferrous Minerals and higher sales prices for Base Metals, being partially offset by lower Ferrous Minerals sales prices and lower sales volumes for Base Metals. Looking ahead, the company said near-term outlook for copper remains balanced, with growing demand and with supply expected to keep pace unlike in 2017, which saw supply growth lag demand given the disruptions.Near-term outlook for nickel remains balanced, despite Indonesian ore exports continue to increase.Copyright RTT News/dpa-AFX
26.04.2018

Draegerwerk Q1 Loss Widens; Backs FY Sales View, Now Sees Lower End Of EBIT View

BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) reported Thursday that its first-quarter loss after taxes totaled 29.0 million euros, wider than prior year's loss of 0.7 million euros.Dräger generated Group earnings before interest and taxes or EBIT of negative 39.8 million euros, compared to positive EBIT of 2.3 million euros a year ago.Net sales were down by 7.4 percent to 495.6 million euros from 535.0 million euros last year. Net of currency effects, net sales fell 2.5 percent.Order intake net of currency effects increased 2.6 percent, while it decreased by 2.8 percent in nominal terms to 621.4 million euros.Stefan Dräger, Chairman of the Executive Board, said, 'Dräger saw a weak start to the new fiscal year. Net sales have declined, while our earnings suffered in the first quarter from the relatively low net sales volume and a weak gross margin. At the same time, we have started to invest in R&D and sales.'Looking ahead, the company said it expect to see a significant increase in net sales development in the upcoming quarters, which is why net sales forecast remains unchanged.For fiscal year 2018, Dräger continues to expect net sales growth of between 2.0 and 5.0 percent, net of currency effects, and an EBIT margin of between 4.0 and 6.0 percent.Due to the restrained business development in the first quarter and currency effects, the EBIT margin is likely to come out in the lower range of the guidance.Copyright RTT News/dpa-AFX
26.04.2018

Volkswagen Group Q1 Profit Down; Confirms 2018 Outlook

WOLFSBURG (dpa-AFX) - Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) reported that its earnings after tax for the first-quarter 2018 declined 2.2 percent to 3.30 billion euros from 3.37 billion euros in the same quarter last year.Operating profit for the first-quarter decreased to 4.2 billion euros from the prior year's 4.4 billion euros, due to the negative effect resulting from a change in the reporting of the valuation of derivatives of derivatives (IFRS 9). Without this effect, the adjusted earnings were up slightly year-on-year.But, group sales revenue for the first-quarter rose to 58.2 billion euros from 56.2 billion euros last year.Volkswagen Commercial Vehicles sales revenues grew 2.4 percent to 2.9 billion euros. Sales revenue for the Audi brand increased to 15.3 billion euros from 14.4 billion euros in the prior year.In the first three months of 2018, ŠKODA was able to increase sales revenue by 4.9 percent to 4.5 billion euros.At 2.8 billion euros, sales revenue for the SEAT brand was 11.8 percent higher than the same period of the previous year.'The Volkswagen Group is in a robust economic position, our TOGETHER - Strategy 2025 is taking effect,' said Herbert Diess, CEO of Volkswagen AG.Globally, the Volkswagen Group delivered 2.7 million vehicles to customers in the first quarter. This means an increase of 7.4 percent compared with the prior-year period. In March, the Group recorded more than one million deliveries, marking the highest number of unit sales in a single month thus far.For the year as a whole, the Group expects deliveries to customers of the Volkswagen Group in 2018 to moderately exceed the prior-year figure. Challenges in the current fiscal year will arise mainly from the economic situation, increasing competition, exchange rate volatility and the diesel issue. In the EU, there is also a new, more time-consuming test procedure for determining pollutant and CO2 emissions as well as fuel consumption in passenger cars and light commercial vehicles (WLTP).Sales revenue for the Volkswagen Group is expected to be up by as much as five percent on the prior-year figure. An operating return on sales of between 6.5 and 7.5 percent is anticipated for the operating profit.Copyright RTT News/dpa-AFX
26.04.2018

Kyocera FY Profit Down

KYOTO (dpa-AFX) - Kyocera Corp. (KYO), a developer of products for the information and communications market, reported that its net income attributable to shareholders for the year ended March 31, 2018 decreased by 21.2% to 81.79 billion Japanese yen from the prior year, due to the recording of a write-down in the amount of 50.17 billion yen relating to long-term purchase agreements for procurement of polysilicon material in the solar energy business, included within the Life & Environment Group, which more than offset improvements in profitability in the Components Business and the Document Solutions Group resulting from the sales growth and efforts to reduce costs and raise productivity.Annual earnings per share decreased to 222.43 yen from 282.62 yen in the previous year. But, consolidated net sales for fiscal 2018 increased by 10.8% to 1.58 trillion yen from last year.Copyright RTT News/dpa-AFX
26.04.2018

SSE Issues Statement On CMA Decision On Npower Merger

PERTH (SCOTLAND) (dpa-AFX) - SSE PLC said the company will assess the CMA's statement about the proposed merger of SSE Energy Services, SSE's household energy and services business in GB, and Innogy SE's retail business, npower, but continues to believe that the proposed merger will deliver benefits for the energy market and energy customers. The CMA has found that the merger of SSE Retail and Npower could lead to higher prices for some billpayers, following its initial investigation. The Competition and Markets Authority believes that the merger warrants further in-depth scrutiny.Alistair Phillips-Davies, Chief Executive of SSE, said: 'We remain confident that the proposed merger will deliver benefits for customers and for the energy market as a whole and that we will be able to demonstrate this to the CMA in due course.'SSE and Npower now have until 3 May to offer measures to address the CMA's concerns.Copyright RTT News/dpa-AFX
26.04.2018

KAZ Minerals Q1 Copper Production Rises; Backs FY18 Outlook

LONDON (dpa-AFX) - Copper producer KAZ Minerals Plc (KAZ.L), formerly Kazakhmys PLC, Thursday reported that its copper production for the first quarter rose to 67.3 kt from 52.1 kt in the same period last year. Zinc in concentrate output in the first quarter slid to 14.2 kt from 15.5 kt a year ago.However, the Group reported gold output of 49.9 koz, up from 42.6 koz in the year-ago period. Silver output increased to 852 koz from 795 koz last year.Looking ahead, the company said it is on track to achieve its guidance across all metals for the full year 2018, targeting 270 to 300 kt of copper production and 160 to 175 koz of gold. The company added that it is delivering production growth into a balanced market and the medium-term outlook for copper prices remains strong.Copyright RTT News/dpa-AFX
26.04.2018

Elementis Reports Solid Start To FY; Says Confident Of Further Progress

LONDON (dpa-AFX) - Specialty Chemicals Company Elementis plc (ELM.L) Thursday reported that it has made a good start to the year and is confident of making further financial and strategic progress in 2018.In Personal Care, hectorite based products for the cosmetics market continue to experience growth across new product categories and geographies. Performance in anti-perspirant active ingredients has improved following pricing actions taken in 2017. In Coatings, performance benefited from growth in EMEA and the Americas, and a steady performance in Asia. CEO Paul Waterman said, 'Elementis has had a solid start to the year and we are confident of delivering continued progress in 2018, in line with our previous expectations.'Copyright RTT News/dpa-AFX
26.04.2018

Meggitt Q1 Organic Revenue Up, Backs FY Organic Revenue Guidance

LONDON (dpa-AFX) - Engineering company Meggitt Plc (MGGT.L) Thursday said its trading during the first quarter was strong, with organic revenue growth of 6 percent, excluding the effects of foreign exchange and disposals. The organic growth reflects a robust performance in the civil aftermarket and energy end markets.While Civil aerospace revenue grew 4 percent organically, Original equipment revenue slid 2 percent, with good growth in business jets more than offset continued weakness in regional jets and reduced revenue on large jet platform. Aftermarket revenue grew by 8 percent. Military revenue rose 2 percent and Energy revenues grew 39 percent, both organically.Following first quarter trading, the Group said it is reaffirming its guidance of 2-4 percent organic revenue growth for the year.Copyright RTT News/dpa-AFX
26.04.2018

N Brown Group FY Pretax Profit Declines On Exceptional Costs; Revenue Up 3.9%

LONDON (dpa-AFX) - N Brown Group Plc (BWNG.L) reported statutory profit of 16.2 million pounds for the 52 weeks ended 3 March 2018 which was heavily impacted by exceptional costs of 56.9 million pounds which largely relate to legacy issues. This is compared to pretax profit of 55.6 million pounds, prior year. Earnings per share from continuing operations was 4.40 pence compared to 15.66 pence. Adjusted trading profit before tax was 81.6 million pounds, up 1.3% year on year. Adjusted earnings per share from continuing operations was 23.02 pence compared to 22.72 pence. Fiscal year Group revenue was up 3.9% to 922.2 million pounds, with Product revenue up 4.1% and Financial Services revenue up 3.5%. The Board proposed to hold the full year dividend consistent with last year, at 14.23 pence.Angela Spindler, Chief Executive, said: 'March was a challenging month for fashion retail, however, trade is improving through April, and at this early stage in the new financial year our overall expectations are unchanged.'Copyright RTT News/dpa-AFX
26.04.2018

Asian Shares Mixed Ahead Of Central Bank Meetings

CANBERA (dpa-AFX) - Asian stocks ended mixed on Thursday as concerns over rising bond yields tempered investor optimism on the earnings front. Traders also awaited rate decisions from both the European Central Bank and the Bank of Japan.China's Shanghai Composite index tumbled 42.94 points or 1.38 percent to finish at 3,075.03 amid growing fears of a trade war with the United States. Hong Kong's Hang Seng index was down more than 1 percent in late trade. Japanese shares rose amid widespread gains in the technology sector following upbeat earnings results from the likes of Texas Instruments, Facebook and AMD. The Nikkei average rose 104.29 points or 0.47 percent to 22,319.61 while the broader Topix index closed 0.25 percent higher at 1,772.13.Tokyo Electron climbed 8.4 percent after the semiconductor equipment maker forecast strong profits for this fiscal year ending March 2019. Advantest surged 2.6 percent and Sumco Corp added 3.6 percent.Australian shares finished slightly lower as banks succumbed to heavy selling pressure, weighed down by a weakening Aussie dollar and concerns about loan quality.The benchmark S&P/ASX 200 index dropped 10.80 points or 0.18 percent to 5,910.80 as trading resumed after a public holiday on Wednesday. The broader All Ordinaries index ended down 6.40 points or 0.11 percent at 6,003.Westpac Banking Corp closed down 3.6 percent after falling more than 4 percent earlier in the day to reach its lowest in nearly two years. The other three banks fell around 2 percent. Miners BHP Billiton and Fortescue Metals Group lost 1-2 percent while energy stocks Woodside Petroleum, Oil Search, Santos and Origin Energy gained 1-2 percent, buoyed by a continued rise in oil prices. Private hospital owner Healthscope soared 14.8 percent on takeover news. CSL shares advanced 2.4 percent.Seoul stocks rallied, led by technology stocks amid buying by foreign investors. The benchmark Kospi climbed 26.83 points or 1.10 percent to 2,475.64. Market heavyweight Samsung Electronics jumped 3.5 percent after it posted a record quarterly profit. Hyundai Motor slumped 4.6 percent after its Q1 profit nearly halved.On the data front, South Korea's gross domestic product jumped a seasonally adjusted 1.1 percent on quarter in the first quarter of 2018, the Bank of Korea said in a preliminary report. That follows the 0.2 percent decline in the three months prior.New Zealand shares fell as dual-listed banks came under selling pressure on worries over a deepening banking scandal across the Tasman. The benchmark S&P/NZX50 index closed marginally lower at 8,282.05. Tegel Group Holdings shares surged as much as 36.6 percent after the company received a takeover offer from Philippines broiler complex operator Bounty Fresh Food Inc's New Zealand unit.India's Sensex was rising 0.2 percent and Singapore's Straits Times index was up 0.1 percent while Malaysia's KLSE Composite index was declining 0.3 percent and the Taiwan Weighted shed 0.7 percent. Indonesia's Jakarta Composite index was down as much as 2.6 percent.Overnight, U.S. stocks fluctuated before closing mixed as strong earnings from the likes of Boeing and Texas Instruments helped investors shrug off worries about higher interest rates. The Dow Jones Industrial Average rose 0.3 percent to snap a five-day losing streak and the S&P 500 inched up 0.2 percent while the tech-heavy Nasdaq Composite slid 0.1 percent.Copyright RTT News/dpa-AFX
26.04.2018

European Shares Seen Up On Earnings Optimism

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open higher on Thursday as investors assess another batch of earnings reports and keep an eye on today's ECB meeting. No changes are expected, but the language and the forward guidance will be crucial.Asian stocks are mostly higher on optimism over earnings after Samsung Electronics posted a record quarterly profit.The dollar hovered near three-month highs against a basket of currencies ahead of U.S. GDP data due out Friday and the looming inter-Korean meeting.Meanwhile, the Bank of Japan is expected to keep its policy unchanged when it ends a two-day rate review on Friday. Gold held little changed near five-week lows on dollar strength, while crude oil prices rose in Asian deals amid the prospect of fresh sanctions on Iran and concerns about output from Venezuela.Overnight, U.S. stocks fluctuated before closing mixed as strong earnings from the likes of Boeing and Texas Instruments helped investors shrug off worries about higher interest rates.The Dow Jones Industrial Average rose 0.3 percent to snap a five-day losing streak and the S&P 500 inched up 0.2 percent while the tech-heavy Nasdaq Composite slid 0.1 percent.Facebook shares jumped over 5 percent in after-hours trades after the social media giant reported revenue that topped forecasts. Advanced Micro Devices, Visa, Ford and Qualcomm all posted encouraging financial results while AT&T reported first-quarter results that missed estimates.European markets ended Wednesday's session firmly in the red on concerns over rising bond yields. The pan-European Stoxx Europe 600 index shed 0.8 percent.The German DAX tumbled 1 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both lost about 0.6 percent.Copyright RTT News/dpa-AFX
26.04.2018

Asian Markets Exhibit Mixed Trend

CANBERA (dpa-AFX) - Asian stock markets are mixed on Thursday following the lackluster cues overnight from Wall Street. Tech stocks are advancing on upbeat corporate earnings results from their U.S. peers as well as Samsung Electronics, while financial stocks are weak. The continued increase in U.S. Treasury yields weighed on investor sentiment. Concerns that rising inflation may lead the Federal Reserve to hike interest rates faster than previously expected have recently pushed yields higher.The Australian market, which was closed on Wednesday for a public holiday, is edging higher following the mostly positive cues from Wall Street. Gains in oil and gold mining stocks were offset by weakness in banks and mining stocks. In late-morning trades, the S&P/ASX 200 Index is adding 7.10 points or 0.12 percent to 5,928.70, off a high of 5,931.60 earlier. The broader All Ordinaries Index is up 7.60 points or 0.13 percent to 6,017.00.Oil stocks are higher after a rise in crude oil prices overnight. Oil Search is adding 0.7 percent, Santos is rising almost 1 percent and Woodside Petroleum is advancing 1 percent.Gold miners are modestly higher despite gold prices hitting a monthly low overnight. Evolution Mining is adding 0.2 percent and Newcrest Mining is up 0.1 percent.Newcrest Mining reported a 6 percent decline in gold production for the March quarter and also lowered its outlook for full-year gold output, citing a dam collapse that halted operations at its biggest mine.In the banking sector, National Australia Bank, Commonwealth Bank and ANZ Banking are lower in a range of 0.6 percent to 0.8 percent. Shares of Westpac are down more than 2 percent.Mining stocks are also mostly lower. BHP Billiton is declining 0.4 percent and Fortescue Metals is losing more than 1 percent, while Rio Tinto is adding 0.6 percent.Coles' food and liquor sales rose in the third quarter, with parent company Wesfarmers attributing the increase to lower prices as well as improved service and quality for customers. Shares of Wesfarmers are declining more than 1 percent.In economic news, Australia will on Thursday release first-quarter numbers for import and export prices.In the currency market, the Australian dollar fell to a new four-month low against the U.S. dollar on Thursday. The local unit was trading at US$0.7572, down from US$0.7785 on Tuesday.The Japanese market is rising, with the mostly positive cues from Wall Street and a weaker yen lifting investor sentiment. Tech stocks are among the major gainers following upbeat earnings results from their U.S. peers overnight.In late-morning trades, the benchmark Nikkei 225 Index is adding 107.59 points or 0.48 percent to 22,322.91, off a high of 22,381.66 earlier.In the tech space, Tokyo Electron is gaining more than 10 percent, Advantest is rising more than 4 percent and Alps Electric is higher by more than 3 percent.The major exporters are higher on a weaker yen. Mitsubishi Electric is advancing more than 1 percent, Panasonic is up 0.5 percent, Sony is rising 0.4 percent and Canon is adding 0.2 percent.Among automakers, Toyota is adding 0.6 percent and Honda is rising 0.3 percent. In the banking sector, Mitsubishi UFJ Financial is edging down less than 0.1 percent and Sumitomo Mitsui Financial is losing 0.3 percent.In the oil space, Inpex is adding 0.5 percent and Japan Petroleum Exploration is higher by 0.4 percent after crude oil prices rose overnight.Among the market's best performers, Screen Holdings is rising more than 4 percent and Sumco Corp. is higher by almost 4 percent.On the flip side, Toyobo Co. is declining more than 3 percent, JXTG Holdings is down more than 2 percent and Mitsui Mining & Smelting is lower by almost 2 percent.In the currency market, the U.S. dollar is trading in the lower 109 yen-range on Thursday.Elsewhere in Asia, South Korea, Malaysia, New Zealand and Taiwan are higher, while Indonesia, Shanghai, Hong Kong and Singapore are lower.On Wall Street, stocks closed mixed on Wednesday in choppy trading that reflected uncertainty about the outlook for the markets amid a continued increase in U.S. treasury yields. Traders may also have been reluctant to make more significant moves amid a lack of major U.S. economic data on the day. While the Nasdaq edged down 3.61 points or 0.1 percent to 7,003.74, the Dow rose 59.70 points or 0.3 percent to 24,083.83 and the S&P 500 inched up 4.84 points or 0.2 percent to 2,639.40.The major European markets moved to the downside on Wednesday. While the German DAX Index slumped by 1 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index both slid by 0.6 percent.Crude oil futures edged higher Wednesday despite a significant build in U.S. oil inventories. WTI crude for June delivery rose $0.35 or 0.5 percent to close at $68.05 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
26.04.2018

Japanese Market Rises

TOKYO (dpa-AFX) - The Japanese stock market is rising on Thursday, with the mostly positive cues overnight from Wall Street and a weaker yen lifting investor sentiment. Tech stocks are among the major gainers following upbeat earnings results from their U.S. peers overnight.In late-morning trades, the benchmark Nikkei 225 Index is adding 107.59 points or 0.48 percent to 22,322.91, off a high of 22,381.66 earlier.In the tech space, Tokyo Electron is gaining more than 10 percent, Advantest is rising more than 4 percent and Alps Electric is higher by more than 3 percent.The major exporters are higher on a weaker yen. Mitsubishi Electric is advancing more than 1 percent, Panasonic is up 0.5 percent, Sony is rising 0.4 percent and Canon is adding 0.2 percent.Among automakers, Toyota is adding 0.6 percent and Honda is rising 0.3 percent. In the banking sector, Mitsubishi UFJ Financial is edging down less than 0.1 percent and Sumitomo Mitsui Financial is losing 0.3 percent.In the oil space, Inpex is adding 0.5 percent and Japan Petroleum Exploration is higher by 0.4 percent after crude oil prices rose overnight.Among the market's best performers, Screen Holdings is rising more than 4 percent and Sumco Corp. is higher by almost 4 percent.On the flip side, Toyobo Co. is declining more than 3 percent, JXTG Holdings is down more than 2 percent and Mitsui Mining & Smelting is lower by almost 2 percent.In the currency market, the U.S. dollar is trading in the lower 109 yen-range on Thursday.On Wall Street, stocks closed mixed on Wednesday in choppy trading that reflected uncertainty about the outlook for the markets amid a continued increase in U.S. treasury yields. Traders may also have been reluctant to make more significant moves amid a lack of major U.S. economic data on the day. While the Nasdaq edged down 3.61 points or 0.1 percent to 7,003.74, the Dow rose 59.70 points or 0.3 percent to 24,083.83 and the S&P 500 inched up 4.84 points or 0.2 percent to 2,639.40.The major European markets moved to the downside on Wednesday. While the German DAX Index slumped by 1 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index both slid by 0.6 percent.Crude oil futures edged higher Wednesday despite a significant build in U.S. oil inventories. WTI crude for June delivery rose $0.35 or 0.5 percent to close at $68.05 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
26.04.2018

China Stock Market May See Renewed Support

BEIJING (dpa-AFX) - The China stock market headed south again on Wednesday, one session after it had ended the two-day slide in which it had retreated almost 50 points or 1.6 percent. The Shanghai Composite Index now rests just beneath the 3,120-point plateau although it may tick higher again on Thursday.The global forecast for the Asian markets is unclear, with concerns over interest rates tempered by support from crude oil prices. The European markets were down, and the U.S. bourses were mixed but little changed and the Asian markets figure to follow the latter lead.The SCI finished modestly lower on Wednesday following losses from the financials, properties and oil and insurance companies.For the day, the index surrendered 10.95 points or 0.35 percent to finish at 3,117.97 after trading between 3,107.00 and 3,122.91. The Shenzhen Composite Index added 4.85 points or 0.27 percent to end at 1,809.26.Among the actives, Bank of China skidded 1.04 percent, while Industrial and Commercial Bank of China tumbled 1.48 percent, China Construction Bank retreated 1.19 percent, Bank of Communications shed 0.65 percent, Agricultural Bank of China lost 0.78 percent, China Life slid 1.16 percent, Ping An Insurance plunged 1.59 percent, PetroChina dipped 0.91 percent, China Petroleum and Chemical (Sinopec) plummeted 2.74 percent and China Vanke declined 2.62 percent.The lead from Wall Street offers little clarity as stocks showed a lack of direction on Wednesday, bouncing back and forth across the unchanged line before closing mixed.The NASDAQ eased 3.62 points or 0.05 percent to 7,003.74, while the Dow rose 59.70 points or 0.25 percent to 24,083.83 and the S&P added 4.84 points or 0.18 percent to 2,639.40.The choppy trading reflected uncertainty about the outlook for interest rates as rising inflation may lead the Federal Reserve to hike rates faster than expected.Decent earnings news offered support to the markets as aerospace giant Boeing (BA), Texas Instruments (TXN) and Twitter (TWTR) all beat the street.Crude oil futures edged higher Wednesday despite a significant build in U.S. oil inventories. June WTI oil gained 35 cents or 0.5 percent to settle at $68.05/bbl.Copyright RTT News/dpa-AFX
25.04.2018

The Swiss Stock Market Pulled Back With The Rest Of Europe

BRUSSELS (dpa-AFX) - The Swiss stock market ended Wednesday's session in the red, much like the rest of the European markets. Investor sentiment took a hit after Wall Street stocks sold off Tuesday on concerns over rising bond yields. The yield on the benchmark ten-year note climbed more firmly above 3 percent Wednesday. Concerns rising inflation may lead the Federal Reserve to hike interest rates faster than previously expected have recently pushed yields higher.The Swiss Market Index decreased by 0.64 percent Wednesday and finished at 8,740.96. The Swiss Leader Index weakened by 0.86 percent and the Swiss Performance Index lost 0.67 percent.Credit Suisse was the top performing stock of the session, surging 3.56 percent. The investment bank posted its strongest quarterly earnings in three years, underpinned by strong growth in its wealth management division.Meanwhile, UBS dropped 1.5 percent and Julius Baer surrendered 1.1 percent.Specialty chemicals company Clariant sank 7.4 percent after posting stagnant profit margins for the first quarter.Adecco tumbled 3.6 percent and ABB declined 2.9 percent. Lonza and Sika weakened by 2.2 percent each. SGS dropped 1.6 percent and Givaudan lost 1.4 percent.The index heavyweights all finished in negative territory. Roche and Novartis fell by 0.7 percent each and Nestle slid 0.2 percent.Copyright RTT News/dpa-AFX
25.04.2018

European Markets Dropped On Rate Hike Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Wednesday's session firmly in negative territory. Investor sentiment took a hit after Wall Street stocks sold off Tuesday on concerns over rising bond yields. Traders were also in a cautious mood ahead of tomorrow's policy statement from the European Central Bank.The yield on the benchmark ten-year note climbed more firmly above 3 percent Wednesday. Concerns rising inflation may lead the Federal Reserve to hike interest rates faster than previously expected have recently pushed yields higher.The pan-European Stoxx Europe 600 index weakened by 0.79 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.71 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.76 percent.The DAX of Germany dropped 1.02 percent and the CAC 40 of France fell 0.57 percent. The FTSE 100 of the U.K. declined 0.62 percent and the SMI of Switzerland finished lower by 0.64 percent.In Frankfurt, Deutsche Boerse dropped 1.65 percent after announcing personal and structural changes to its executive board.SGL Carbon tumbled 4.09 percent. The chemical firm expects net income to be in the range of 30 million euros to 33 million euros in the first quarter 2018, compared to a loss of 0.3 million euros in the first-quarter of 2017, mainly driven by positive one-time effects.Osram Licht plunged 16.37 percent. The manufacturer of lamps, lighting systems and electronic control gears has cut its fiscal year 2018 outlook, citing currency fluctuations and slower business development in the first half of fiscal year 2018.In Paris, STMicroelectronics rallied 2.95 percent after its first-quarter profit more than doubled, driven by sales growth across all product groups. IT services company Atos gained 2.35 percent after it announced a partnership with Google Cloud to develop artificial intelligence solutions to its global customers.Kering surged 4.61 percent after the luxury goods company reported 'spectacular growth' from Gucci in its first quarter results.Air Liquide dropped 0.94 percent after its Q1 revenue fell by 3.2 percent on a reported basis due to currency headwinds.In London, Shire fell 2.80 percent after Japan's Takeda Pharmaceutical struck a deal to buy the Irish drugmaker Shire for about $65bn.Whitbread dipped 0.22 percent after announcing plans to demerge Costa Coffee.CRH rose 2.25 percent after unveiling a €1 billion share buyback.Lloyds Banking Group fell 1.69 percent after its first-quarter profit missed analyst expectations.Credit Suisse jumped 3.55 percent in Zurich after the investment bank posted its strongest quarterly earnings in three years, underpinned by strong growth in its wealth management division.Specialty chemicals company Clariant sank 7.38 percent after posting stagnant profit margins for the first quarter.Germany's construction orders grew notably in February, figures from Destatis showed Wednesday. New orders in the main construction industry climbed 9.9 percent month-over-month in February. Orders surged 13.0 percent in February from a year earlier.France consumer confidence improved unexpectedly in April, survey data from the statistical office Insee showed Wednesday. The consumer sentiment index rose to 101 in April from 100 in March. The reading was expected to remain unchanged at 100.Copyright RTT News/dpa-AFX
25.04.2018

European Shares Slide On Interest-rate Worries

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were broadly lower on Wednesday after Wall Street stocks sold off overnight on concerns over rising bond yields amid expectations of more Fed rate hikes this year. Corporate earnings also proved to be a mixed bag, weighing on investor sentiment. The pan-European Stoxx Europe 600 index was down 0.9 percent at 379.69 in late opening deals after ending the previous session little changed with a negative bias. The German DAX was down as much as 1.6 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were declining around half a percent each. Swiss specialty chemicals company Clariant lost almost 7 percent on posting stagnant profit margins for the first quarter. Germany's Deutsche Boerse dropped 1.4 percent after announcing personal and structural changes to its executive board.Credit Suisse shares jumped over 4 percent after the Swiss investment bank posted its strongest quarterly earnings in three years, underpinned by strong growth in its wealth management division.STMicroelectronics rallied 5 percent after its first-quarter profit more than doubled, driven by sales growth across all product groups. French IT services company Atos rallied 2.2 percent after it announced a partnership with Google Cloud to develop artificial intelligence solutions to its global customers.Kering soared 6 percent after the luxury goods company reported 'spectacular growth' from Gucci in its first quarter results.Copyright RTT News/dpa-AFX
25.04.2018

FTSE 100 Slides On Worries Over Rate Hikes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. shares fell on Wednesday after Wall Street stocks sold off overnight on concerns over rising bond yields amid expectations of more Fed rate hikes this year. Meanwhile, Brexit secretary David Davis has said the Commons motion on the final Brexit deal expected this autumn could be amended by MPs and its outcome will be binding on the government. The benchmark FTSE 100 was down 47 points or 0.65 percent at 7,377 in late opening deals after logging its sixth straight gain on Tuesday, the longest winning streak in nearly one year. Shire Plc shares lost about 1 percent after Japan's Takeda Pharmaceutical struck a deal to buy the Irish drugmaker Shire for about $65bn.Royal Dutch Shell shed 0.8 percent after it signed a pact to sell its downstream business in Argentina to RaÃzen.Industrial belts manufacturer Fenner rose half a percent as its first-half pretax profit more than doubled.Whitbread dropped 1.6 percent after announcing plans to demerge Costa Coffee.CRH rose over 1 percent after unveiling a €1 billion share buyback.Lloyds Banking Group fell 1.5 percent after its first-quarter profit missed analyst expectations.Copyright RTT News/dpa-AFX
25.04.2018

CAC 40 Retreats On Mixed Earnings

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell notably on Wednesday as worries about higher interest rates persisted and investors looked ahead to the ECB policy meeting, due Thursday for direction.The benchmark CAC 40 index was down 32 points or 0.59 percent at 5,412 in opening deals after closing 0.1 percent higher on Tuesday. Air Liquide dropped 1.6 percent after its Q1 revenue fell by 3.2 percent on a reported basis due to currency headwinds.IT services company Atos rallied 2 percent after it announced a partnership with Google Cloud to develop artificial intelligence solutions to its global customers.Kering soared 6.6 percent after the luxury goods company reported 'spectacular growth' from Gucci in its first quarter results. In economic releases, France consumer confidence improved unexpectedly in April, survey data from the statistical office Insee showed. The consumer sentiment index rose to 101 in April from 100 in March. The reading was expected to remain unchanged at 100.Copyright RTT News/dpa-AFX
25.04.2018

Spain's Producer Price Inflation Rises In March

MADRID (dpa-AFX) - Spain's producer price inflation rose slightly in March, the statistical office INE showed Wednesday. Producer prices climbed 1.3 percent year-on-year in March, faster than the 1.2 percent increase in February.Meanwhile, excluding energy, producer price growth eased to 1.2 percent from 1.4 percent a month ago. Among components, energy prices grew the most, by 3 percent, followed by a 2.1 percent rise in intermediate goods prices. Consumer goods prices gained 0.5 percent and capital goods by 0.9 percent. On a monthly basis, producer prices dropped 0.9 percent after staying flat in February. This was the first fall in seven months.Copyright RTT News/dpa-AFX
25.04.2018

Poland Unemployment Rate Falls Less Than Expected

WARSAW (dpa-AFX) - Poland's unemployment rate decreased less than expected in March, data from the Central Statistical Office showed Wednesday.The jobless rate dropped to 6.6 percent in March from 6.8 percent in the previous month. The rate was forecast to fall to 6.5 percent.In the corresponding month last year, the unemployment rate was 8.0 percent.There were 1.09 million unemployed people in March compared with 1.32 million a year ago.Copyright RTT News/dpa-AFX
25.04.2018

Swiss Investor Confidence Weakest Since Late 2016

BRUSSELS (dpa-AFX) - Switzerland's investor confidence deteriorated further in April, survey data from the investment bank Credit Suisse and the CFA Society Switzerland showed Wednesday.The Credit Suisse CFA Society Switzerland Indicator that reflects expectations of financial analysts for the economy in the coming six months, fell to 7.2 points from 16.7 in March. This was the lowest since October 2016. The majority of respondents do not expect any major changes to the economic situation in Switzerland over the next six months. The majority of analysts are expecting a continuation of the EUR rally. The risk of a trade war was considered generally low.Further, the survey showed that the majority of the analysts surveyed anticipate higher long-term interest rates in Switzerland.Furthermore, around half the survey participants expect a rising inflation rate in Switzerland and the Eurozone over the next six months.Copyright RTT News/dpa-AFX
25.04.2018

France Consumer Sentiment Improves In April

PARIS (dpa-AFX) - France consumer confidence improved unexpectedly in April, survey data from the statistical office Insee showed Wednesday. The consumer sentiment index rose to 101 in April from 100 in March. The reading was expected to remain unchanged at 100. Households were almost as optimistic as in March about their expected financial situation. The corresponding index rose to -11 in April from -12.Households' opinion on their past financial situation worsened a little further, with the index easing to -26 from -24. Households' opinion balance on their current saving capacity was unchanged in April. The indicator came in at 9 in April.The balance on their expected saving capacity, came in at -9 versus -8 a month ago. The indicator measuring past living standard improved to -35 from -39. Similarly, the index for future standard of living rose to -21 from -23. Households' opinion on the unemployment trend was virtually stable in April. The index rose slightly to 4 from 3 a month ago.Copyright RTT News/dpa-AFX
25.04.2018

Austria Production Index Climbs In February

CANBERA (dpa-AFX) - Austria's production index expanded in February from a year ago, data from Statistics Austria showed Wednesday.The production index that combines output of both industry and construction, advanced 5.1 percent year-over-year in February.Industrial output grew 4.6 percent over the year and construction output rose by 7.6 percent.On a monthly basis, the production index registered an increase of 0.3 percent in February.Copyright RTT News/dpa-AFX
25.04.2018

German Construction Orders Rise In February

BERLIN (dpa-AFX) - Germany's construction orders grew notably in February, figures from Destatis showed Wednesday.New orders in the main construction industry climbed 9.9 percent month-over-month in February. Orders surged 13.0 percent in February from a year earlier. During the first two months of the year, new orders advanced 9.0 percent compared with the same period of 2017.Copyright RTT News/dpa-AFX
25.04.2018

Japan All Industry Activity Rises Less Than Forecast

TOKYO (dpa-AFX) - Japan's all industry activity rebounded at a slower-than-expected pace in February, data from the Ministry of Economy, Trade and Industry showed Wednesday.The all industry activity index rose 0.4 percent month-over-month in February, reversing a 0.1 percent drop in January. That was just below the expected increase of 0.5 percent.Industrial production expanded 2.0 percent over the month, while construction activity index dropped by 0.3 percent and tertiary activity showed no variations. On a yearly basis, all industry activity growth eased to 1.1 percent in February from 1.8 percent in the prior month.Copyright RTT News/dpa-AFX
25.04.2018

Japan All Industry Activity Index Due On Wednesday

CANBERA (dpa-AFX) - Japan will on Wednesday see February figures for its all industry activity index, highlighting a light day for Asia-Pacific economic activity.The index is expected to rise 0.5 percent on month after tumbling 1.8 percent in January.Also, the markets in Australia and New Zealand are closed on Wednesday for ANZAC Day and will reopen on Thursday.Copyright RTT News/dpa-AFX
24.04.2018

U.S. Consumer Confidence Unexpectedly Improves In April

WASHINGTON (dpa-AFX) - After reporting a pullback in U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing an unexpected rebound in consumer confidence in the month of April.The Conference Board said its consumer confidence index rose to 128.7 in April from a revised 127.0 in March. Economists had expected the index to dip to 126.1 from the 127.7 originally reported for the previous month.'Overall, confidence levels remain strong and suggest that the economy will continue expanding at a solid pace in the months ahead,' said Lynn Franco, Director of Economic Indicators at the Conference Board.The unexpected increase by the headline index was partly due to an improvement in consumers' assessment of current conditions, with the present situation index climbing to 159.6 in April from 158.1 in March.The percentage of consumers saying business conditions are 'good' fell to 35.2 percent in April from 37.6 percent in March, although those saying conditions are 'bad' also dipped to 11.3 percent from 13.3 percent.Consumers' assessment of the labor market was also mixed, as the percentage saying jobs are 'plentiful' slipped to 38.1 percent in April from 39.5 percent in March, but those saying jobs are 'hard to get' also edged down to 15.2 percent from 15.7 percent.Franco said, 'Consumers' short-term expectations also improved, with the percent of consumers expecting their incomes to decline over the coming months reaching its lowest level since December 2000.'The expectations index rose to 108.1 in April from 106.2 in March, as the percentage of consumers expecting business conditions to improve over the next six months increased to 24.5 percent from 23.2 percent and those expecting conditions to worsen decreased to 9.7 percent from 10.2 percent.Consumers' outlook for the labor market was also more positive, with the percentage expecting more jobs in the months ahead inching up to 19.5 percent from 18.9 percent and those anticipating fewer jobs remaining at 12.5 percent.On Friday, the University of Michigan is scheduled to release its revised report on consumer sentiment in the month of April.The consumer sentiment index for April is expected to be upwardly revised to 98.0 from the preliminary reading of 97.8, although that would still be down from 101.4 in March.Copyright RTT News/dpa-AFX
24.04.2018

U.S. New Home Sales Jump Much More Than Expected In March

WASHINGTON (dpa-AFX) - New home sales in the U.S. jumped by much more than expected in the month of March, according to a report released by the Commerce Department on Tuesday.The report said new home sales soared by 4.0 percent to an annual rate of 694,000 in March after surging up by 3.6 percent to a revised rate of 667,000 in February. Economists had expected new home sales to climb by 1.9 percent.With the bigger than expected increase, new home sales rose to their highest annual rate since hitting 711,000 last November. New home sales were up by 8.8 percent year-over-year.The jump in new home sales was partly due to a spike in sales in the West, which shot up by 28.3 percent to a rate of 222,000.New home sales in the South also rose by 0.8 percent to a rate of 371,000, while new home sales in the Midwest fell by 2.4 percent to a rate of 82,000 and new home sales in Northeast plunged by 54.8 percent to a rate of 19,000.The Commerce Department said the median sales price of new houses sold in March was $337,200, up 3.5 percent from $325,800 in February and up 4.8 percent from $321,700 in the same month a year ago.The estimate of new houses for sale at the end of March was 301,000, representing 5.2 months of supply at the current sales rate.On Monday, the National Association of Realtors released a separate report showing existing home sales increased by much more than expected in the month of March.NAR said existing home sales climbed by 1.1 percent to an annual rate of 5.60 million in March after surging up by 3.0 percent to a rate of 5.54 million in February. Economists had expected existing home sales to edge up by 0.2 percent.Existing home sales rose for the second consecutive month but are still down by 1.2 percent compared to the same month a year ago.Copyright RTT News/dpa-AFX
25.04.2018

Dollar Climbing Ahead Of ECB Announcement

WASHINGTON (dpa-AFX) - The dollar is rising against its major rivals Wednesday afternoon, bouncing back from yesterday's pullback. The recent rise in bond yields has convinced investors that rising inflation may lead the Federal Reserve to hike interest rates faster than previously expected.There was no U.S. economic data this morning, but traders are looking forward to the release of weekly jobless claims, durable goods orders and international trade Thursday morning. The European Central Bank is also expected to announce its policy decision Thursday, upon the conclusion of its meeting.The dollar has climbed to nearly a 2-month high of $1.2175 against the Euro Wednesday afternoon, from an early low of $1.2237.Germany's construction orders grew notably in February, figures from Destatis showed Wednesday. New orders in the main construction industry climbed 9.9 percent month-over-month in February. Orders surged 13.0 percent in February from a year earlier.France consumer confidence improved unexpectedly in April, survey data from the statistical office Insee showed Wednesday. The consumer sentiment index rose to 101 in April from 100 in March. The reading was expected to remain unchanged at 100.The buck has rise to around $1.3935 against the pound sterling this afternoon, from a low of $1.3993 this morning. The greenback has broken out to over a 2-month high of Y109.345 against the Japanese Yen this afternoon, from an early low of Y108.784.Japan's all industry activity rebounded at a slower-than-expected pace in February, data from the Ministry of Economy, Trade and Industry showed Wednesday. The all industry activity index rose 0.4 percent month-over-month in February, reversing a 0.1 percent drop in January. That was just below the expected increase of 0.5 percent.Copyright RTT News/dpa-AFX
25.04.2018

Canadian Dollar Drops As Commodities Weaken

CANBERA (dpa-AFX) - The Canadian dollar declined against its most major counterparts in early New York deals on Wednesday, as commodities fell on the back of a higher dollar, supported by rising yields on U.S. bonds. The ten-year yield rose above 3 percent for first time since early 2014 in intraday trading on Tuesday before giving back ground.Concerns that rising inflation may lead the Federal Reserve to hike interest rates faster than previously expected have recently pushed yields higher.Investors await weekly crude stockpiles data from the Energy Information Administration due at 10:30 am ET.Yesterday, the American Petroleum Institute reported that U.S. crude inventories rose by 1.1 million barrels to 429.1 million in the week ended April 20. The Bank of Canada Governor Stephen Poloz along with Senior Deputy Governor Carolyn Wilkins will testify before the Standing Senate Committee on Banking, Trade, and Commerce, in Ottawa later in the day.The currency has been trading in a negative territory against its major rivals in the European session. The loonie dropped to 1.2897 against the greenback, its weakest since April 3. The next possible support for the loonie is seen around the 1.30 area. The loonie fell to more than a 2-week low of 1.5714 against the euro, compared to Tuesday's closing value of 1.5696. If the loonie falls further, it may find support around the 1.58 area.Figures from Destatis showed that Germany's construction orders grew notably in February.New orders in the main construction industry climbed 9.9 percent month-over-month in February. Orders surged 13.0 percent in February from a year earlier.The loonie pared gains to 84.67 against the yen, from a high of 84.99 hit at 9:15 pm ET. The loonie is likely to find support around the 83.00 level. Data from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity rebounded at a slower-than-expected pace in February.The all industry activity index rose 0.4 percent month-over-month in February, reversing a 0.1 percent drop in January. That was just below the expected increase of 0.5 percent.On the flip side, the loonie rose back to 0.9731 against the aussie, not far from a 5-day peak of 0.9724 hit at 2:00 am ET. The loonie is seen finding resistance around the 0.96 level.Copyright RTT News/dpa-AFX
25.04.2018

Euro Weakens Ahead Of ECB Decision

BRUSSELS (dpa-AFX) - The euro dropped against its most major opponents in the European session on Wednesday, as investors look forward to the European Central Bank's rate setting meeting on Thursday, with policymakers widely expected to signal no change in policy.Economists expect the bank to keep the main refi rate at a record low of zero percent and the deposit rate at -0.40 percent. The marginal lending facility rate is expected to be retained at 0.25 percent.The ECB is also expected to refrain from giving any hints about the future of QE program, which ends in September.Investors fretted over higher bond yields, which was buoyed by expectations of more Fed rate hikes this year.The U.S. 10-year treasury yield climbed above 3 percent on expectations that accelerating inflation could put pressure on the Fed for more Fed rate hikes this year.Figures from Destatis showed that Germany's construction orders grew notably in February.New orders in the main construction industry climbed 9.9 percent month-over-month in February. Orders surged 13.0 percent in February from a year earlier.The currency showed mixed trading against its major rivals in the Asian session. While it rose against the franc and the yen, it held steady against the franc. Against the greenback, it declined.The euro edged down to 132.91 against the yen, from a high of 133.34 hit at 2:45 am ET. The euro is poised to challenge support around the 130.00 mark. Data from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity rebounded at a slower-than-expected pace in February.The all industry activity index rose 0.4 percent month-over-month in February, reversing a 0.1 percent drop in January. That was just below the expected increase of 0.5 percent.The 19-nation currency declined to 1.2175 against the greenback, its weakest since March 1. The euro is seen challenging support around the 1.20 area. The euro that closed Tuesday's trading at 0.8750 against the pound dropped to a 5-day low of 0.8736. If the euro continues its decline, 0.86 is possibly seen as its next support level. On the flip side, the euro hovered around a 5-day high of 1.1997 against the franc, compared to 1.1973 hit late New York Tuesday. Next key resistance for the euro is likely seen around the 1.22 level.Survey data from the investment bank Credit Suisse and the CFA Society Switzerland showed that Switzerland's investor confidence deteriorated further in April.The Credit Suisse CFA Society Switzerland Indicator that reflects expectations of financial analysts for the economy in the coming six months, fell to 7.2 points from 16.7 in March. This was the lowest since October 2016. Looking ahead, at 4:15 pm ET, the Bank of Canada Governor Stephen Poloz testifies along with Senior Deputy Governor Carolyn Wilkins before the Standing Senate Committee on Banking, Trade and Commerce, in Ottawa.Copyright RTT News/dpa-AFX
25.04.2018

U.S. Dollar Firms Amid Higher Treasury Yields

CANBERA (dpa-AFX) - The U.S. dollar strengthened against its major counterparts in the Asian session on Wednesday, buoyed by a continued increase in U.S. treasury yields, with the yield on the benchmark ten-year note climbing above 3 percent for the first time since early 2014.U.S. treasury yields strengthened amid hopes for higher inflation, as rising oil prices and tighter trade policies could eventually prop up prices.Surge in U.S. treasury yields was seen a signal that the Federal Reserve may be aggressive in rate hikes, in an effort to respond to economic growth and accelerating inflation.With the day's calendar being light, investors await U.S. durable goods orders and weekly jobless claims on Thursday and GDP data and consumer sentiment on Friday for more direction.The greenback spiked up to a 3-1/2-month high of 0.9824 against the franc, from a low of 0.9782 hit at 5:00 pm ET. The next possible resistance for the greenback is seen around the 1.00 level.The greenback advanced to 109.18 against the yen, 1.2190 against the euro and 1.3935 against the pound, from its early lows of 108.78 and 1.2239, and a 2-day low of 1.3997, respectively. The greenback is likely to find resistance around 111.00 against the yen, 1.20 against the euro and 1.38 against the pound.The greenback spiked up to 0.7078 against the kiwi, its strongest since January 4. On the upside, 0.69 is likely seen as the next resistance level for the greenback.The greenback that closed yesterday's trading at 0.7603 against the aussie and 1.2833 against the loonie strengthened to more than a 4-month high of 0.7563 and more than a 3-week high of 1.2864, respectively. If the greenback extends rise, 0.74 and 1.26 are possibly seen as its next resistance levels against the aussie and the loonie, respectively. Looking ahead, at 4:15 pm ET, the Bank of Canada Governor Stephen Poloz testifies along with Senior Deputy Governor Carolyn Wilkins before the Standing Senate Committee on Banking, Trade and Commerce, in Ottawa.Copyright RTT News/dpa-AFX
24.04.2018

Dollar Losing Ground As Treasury Yields Rise

WASHINGTON (dpa-AFX) - After several days of gains, the dollar is pulling back against all of its major rivals Tuesday afternoon. The weakness appears to be due to the continued rise in U.S. treasuries yields, which crossed the 3 percent level earlier today. It was the first time yields have hit that level since 2014.New home sales in the U.S. jumped by much more than expected in the month of March, according to a report released by the Commerce Department on Tuesday.The report said new home sales soared by 4.0 percent to an annual rate of 694,000 in March after surging up by 3.6 percent to a revised rate of 667,000 in February. Economists had expected new home sales to climb by 1.9 percent.After reporting a pullback in U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing an unexpected rebound in consumer confidence in the month of April.The Conference Board said its consumer confidence index rose to 128.7 in April from a revised 127.0 in March. Economists had expected the index to dip to 126.1 from the 127.7 originally reported for the previous month.The dollar has dropped to around $1.2235 against the Euro Tuesday afternoon, from an early high of $1.2181.German business confidence deteriorated more-than-expected to a 13-month low in April on trade tensions, survey data from the Munich-based Ifo Institute showed Tuesday. The business sentiment index fell to 102.1 from 103.3 a month ago. This was the lowest reading since March 2017, when the reading was 101.3. The score was forecast to drop moderately to 102.8.France's manufacturing confidence declined in April, survey data from the statistical office Insee showed Tuesday. The manufacturing sentiment index fell to 109 in April from 110 in March. The reading was expected to remain unchanged at 110. Nonetheless, the score was above its long-term average of 100.The buck has slipped to around $1.3975 against the pound sterling this afternoon, from a high of $1.3917 this morning. The UK budget deficit decreased to its lowest March level since 2004, the Office for National Statistics said Tuesday. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.8 billion to GBP 1.3 billion in March. This was the lowest March net borrowing since 2004.The greenback climbed to a 2 1/2 month high of Y109.199 against the Japanese Yen this morning, but has since eased back to around Y108.575.Producer prices in Japan were up 0.5 percent on year in March, the bank of Japan said on Tuesday. That was in line with expectations and down from the upwardly revised 0.7 percent increase in February.Japan's leading index improved more than initially estimated in February, latest figures from the Cabinet Office showed Tuesday. The leading index, which measures the future economic activity rose to 106.0 in February from 105.9 in January, which was revised up from 105.6. The flash estimate for February was 105.8.Copyright RTT News/dpa-AFX
24.04.2018

Dollar Little Changed After U.S. Consumer Confidence Index

BRUSSELS (dpa-AFX) - Following the release of U.S. consumer confidence data for April at 10.00 am ET Tuesday, the greenback changed little against its major counterparts.The greenback was trading at 109.11 against the yen, 0.9794 against the franc, 1.2225 against the euro and 1.3963 against the pound around 10:02 am ET.Copyright RTT News/dpa-AFX
24.04.2018

Dollar Mixed Ahead Of U.S. Consumer Confidence Index

BRUSSELS (dpa-AFX) - The Conference Board's Consumer Confidence data for April will be published at 10.00 am ET Tuesday. The consensus is for 126.1, while the index was 127.7 last month. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the franc, it fell against the euro and the pound. Against the yen, it advanced.The greenback was worth 109.11 against the yen, 0.9788 against the franc, 1.2228 against the euro and 1.3978 against the pound as of 9:55 am ET.Copyright RTT News/dpa-AFX
24.04.2018

Yen Falls Against Majors

CANBERA (dpa-AFX) - The Japanese yen declined against its major counterparts in the European session on Tuesday amid risk appetite, as oil extended gains amid Middle East tensions and the dollar held steady near its highest level since January on expectations for a faster pace of interest-rate hikes. Oil prices soared amid expectations of renewed U.S. sanctions against Iran and reduction in supplies by OPEC.Iran has reportedly nixed a formal extension of the cartel's supply quota plan with Russia, but Saudi Arabia and others will continue to limit production beyond this year, analysts say.Investors awaited the European Central Bank's monetary policy decision and a potential meeting in Beijing between officials from the world's largest and second-largest economies this week for directional cues.Data from the Bank of Japan showed that Japan producer prices rose 0.5 percent on year in March. That was in line with expectations and down from the upwardly revised 0.7 percent increase in February.The yen declined to a 5-day low of 152.00 against the pound from yesterday's closing value of 151.53. The yen is seen finding support around the 154.00 region. The yen slipped to a 5-day low of 132.99 against the euro and a weekly low of 111.37 against the franc, off its early highs of 132.62 and 111.08, respectively. The yen is likely to find support around 135.00 against the euro and 113.00 against the franc.The yen weakened to 109.07 against the greenback, its weakest since February 9. If the yen falls further, it may find support around the 110.5 level.The yen weakened to 4-day lows of 84.91 against the loonie and 82.91 against the aussie, reversing from an early high of 84.58 and a 4-day high of 82.48, respectively. On the downside, 86.00 and 84.00 are likely seen as the next support levels for the yen against the loonie and the aussie, respectively.The yen fell back to 77.60 against the kiwi, from near a 3-week high of 77.34 hit at 3:00 am ET. This may be compared to a 4-day low of 77.82 set early in the Asian session. The next possible support for the yen is seen around the 79.00 level.Looking ahead, U.S. new home sales for March and consumer confidence for April are scheduled for release shortly.Copyright RTT News/dpa-AFX
24.04.2018

Euro Falls As German Business Sentiment Weakens

CANBERA (dpa-AFX) - The euro dropped against its major counterparts in European deals on Tuesday, as German business confidence deteriorated more-than-expected in April and ECB Governing Council member Francois Villeroy de Galhau cautioned that rising protectionism would harm global growth.Survey results from the Ifo Institute showed that the business sentiment index fell to 102.1 from 103.3 a month ago. The score was forecast to drop moderately to 102.8.The indicator for the current business situation fell and expectations also deteriorated.Speaking at the City Week banking conference in London, ECB policy maker Villeroy de Galhau warned that escalation of protectionist threats from the United States would dampen growth across the globe.'The recent uncertainty is probably already having some negative effects on investment: you saw it in the British economy since the Brexit vote in 2016. And real tariffs would hurt more.'Traders remained focused on trade tensions between the U.S. and China ahead of a potential meeting in Beijing between officials from the world's largest and second-largest economies.The European Central Bank reviews its monetary policy on Thursday and it is likely that the central bank will temper expectations for a quick exit from its massive stimulus program.The currency showed mixed trading against its major rivals in the Asian session. While it held steady against the pound and the franc, it rose against the yen. Against the greenback, it dropped.The euro declined to a 4-day low of 0.8743 against the pound, from a high of 0.8766 hit at 3:00 am ET. The next possible support for the euro is seen around the 0.86 area.Data from the Office for National Statistics showed that the UK budget deficit decreased to its lowest March level since 2004. Public sector net borrowing, excluding public sector banks, decreased by GBP 0.8 billion to GBP 1.3 billion in March. This was the lowest March net borrowing since 2004.The single currency weakened to 1.2182 against the greenback, its weakest since March 1. If the euro falls further, it may find support around the 1.19 area.The euro reversed from an early 4-day high of 132.96 against the yen and eased back to 132.63. The euro is likely to find support around the 130.00 level.Figures from the Cabinet Office showed that Japan's leading index improved more than initially estimated in February.The leading index, which measures the future economic activity rose to 106.0 in February from 105.9 in January, which was revised up from 105.6. The flash estimate for February was 105.8.The 19-nation currency dropped to a weekly low of 1.1925 against the Swiss franc, compared to 1.1942 hit late New York Monday. On the downside, 1.18 is possibly seen as the next support for the euro.Data from the Federal Customs Administration showed that Switzerland's trade surplus decreased in the first quarter. The trade surplus declined to CHF 6.5 billion from CHF 8.3 billion in the fourth quarter of 2017. In the same period of last year, the surplus totaled CHF 9.9 billion.The euro retreated to 1.5639 against the loonie, 1.6021 against the aussie and 1.7128 against the kiwi, from its early high of 1.5687, new 3-week high of 1.6081 and more than a 4-month high of 1.7180, respectively. The euro is seen finding support around 1.55 against the loonie, 1.58 against the aussie and 1.68 against the kiwi.Looking ahead, U.S. S&P/Case-Shiller home price index for February, new home sales for March and consumer confidence for April are scheduled for release in the New York session.Copyright RTT News/dpa-AFX
24.04.2018

Pound Little Changed After U.K. Public Sector Finance Data

BRUSSELS (dpa-AFX) - At 4.30 am ET Tuesday, the Office for National Statistics has issued UK public sector finance data. Following the data, the pound changed little against its major rivals.The pound was trading at 1.3934 against the greenback, 151.64 against the yen, 1.3639 against the franc and 0.8751 against the euro around 4:32 am ET.Copyright RTT News/dpa-AFX

dpa-AFX SENTIMENT INDICATOR


The dpa-AFX confidence index measures the ratio of high-to-other gradings of Dax-listed companies (based on a 30-day average). A value of 50 indicates that high and low gradings balance one another out. The graph shows the indicator in relation to the DAX chart.

dpa-AFX Analyser