dpa-AFX NEWSTICKER (product sample)

20.04.2021

BD Recalls Certain Lots Of ChloraPrep Hi-Lite Orange 26 ML Applicator

WASHINGTON (dpa-AFX) - Becton, Dickinson and Company (BDX) Tuesday announced a voluntary recall of specified lots of ChloraPrep Hi-Lite Orange 26 mL Applicator and 70% v/v isopropyl alcohol to the user level due to a defective applicator. The product is used as an antiseptic for the preparation of the patient's skin prior to surgery to help reduce bacteria that potentially can cause skin infection.In certain lots, the applicator end cap was improperly secured due to a manufacturing error. This can result in broken glass and solution dropping out of the applicator once activated. In some cases, the glass ampules can drop out before activation and shatter if striking a hard surface, resulting in solution and glass fragments scattering in the procedure area and potentially causing injury to patients and health care professionals. These products were distributed in the United States and Puerto Rico.As part of the voluntary recall, the company is notifying customers and distributors affected by the recall. BD's Customer Recall Notification provides instructions to customers and distributors for disposal and replacement of the impacted ChloraPrep Hi-Lite Orange 26 mL Applicator.Copyright RTT News/dpa-AFX
20.04.2021

Boeing Board Extends Retirement Age For CEO Dave Calhoun

CHICAGO (dpa-AFX) - The Boeing Company (BA) said its Board has extended the company's age-65 standard retirement to age 70 for President and Chief Executive Officer David Calhoun. Calhoun, 64, has served as the company's President and CEO since Jan. 13, 2020. The Board's action extends the mandatory retirement age for Calhoun to April 1, 2028.Boeing also announced that Executive Vice President, Enterprise Operations and Chief Financial Officer Gregory Smith has decided to retire from the company, effective July 9, 2021. The company is conducting a search for Smith's successor.Copyright RTT News/dpa-AFX
20.04.2021

Badger Meter Inc. Bottom Line Advances In Q1

WASHINGTON (dpa-AFX) - Badger Meter Inc. (BMI) revealed a profit for its first quarter that increased from last year.The company's earnings totaled $13.78 million, or $0.47 per share. This compares with $11.85 million, or $0.41 per share, in last year's first quarter.Analysts had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 8.6% to $117.84 million from $108.51 million last year.Badger Meter Inc. earnings at a glance:-Earnings (Q1): $13.78 Mln. vs. $11.85 Mln. last year.-EPS (Q1): $0.47 vs. $0.41 last year.-Analysts Estimate: $0.42-Revenue (Q1): $117.84 Mln vs. $108.51 Mln last year.Copyright RTT News/dpa-AFX
20.04.2021

Kohl's Partners With TOMMY HILFIGER

WASHINGTON (dpa-AFX) - Kohl's (KSS) has entered a new partnership to bring TOMMY HILFIGER men's sportswear to more than 600 stores across the country. Beginning this fall, Kohl's customers will be able to shop TOMMY HILFIGER men's sportswear.Tommy Hilfiger is one of the world's most recognized premium designer lifestyle groups. Through select licensees, Tommy Hilfiger offers lifestyle products such as eyewear, watches, fragrance, swimwear, socks, small leather goods, home goods and luggage. Kohl's noted that TOMMY HILFIGER joins a growing list of customer favorite brands at Kohl's, including Calvin Klein, Cole Haan, Eddie Bauer, Lands' End, Sephora, and TOMS.Copyright RTT News/dpa-AFX
20.04.2021

Kansas City Southern Shares Surge After Canadian National's $33.7 Bln Offer

OTTAWA (dpa-AFX) - Shares of Kansas City Southern (KSU) soared 16 percent in pre-market trading Tuesday, after Canadian National Railway Co (CNI, CNR.TO) announced that it has made a superior proposal to buy Kansas City Southern in a cash-and-stock transaction valued at $33.7 billion, including the assumption of about $3.8 billion of KCS debt. The offer price of $325 per KCS share represents an implied premium of 45% when compared to KCS' unaffected closing stock price on March 19, 2021 and an 21% improvement over the current value of KCS' agreement with Canadian Pacific Railway.In Tuesday pre-market trading, KSU was trading at $299.18 up $42.78 or 16.68 percent.As per the terms of the proposal, Kansas City Southern shareholders will receive $200 in cash and 1.059 shares of CN common stock for each KCS common share. KCS shareholders are expected to own 12% of the combined company. KCS' preferred shareholders will continue to receive $37.50 in cash for each preferred share.Based on the proposed exchange ratio and CN's current quarterly dividend of C$0.615 per share, KCS shareholders are expected to receive the equivalent of $2.08 in annual dividends per KCS share, an amount that is approximately 40% higher than the pro forma dividend per share under the CP proposal.In March, Canadian Pacific Railway (CP.TO, CP) agreed to acquire Kansas City Southern in a stock and cash transaction representing an enterprise value of about US$29 billion. The deal included the assumption of US$3.8 billion of outstanding Kansas City Southern or KCS debt. The transaction had valued Kansas City Southern at US$275 per share.Copyright RTT News/dpa-AFX
20.04.2021

Zimmer Biomet Announces FDA 510(k) Clearance Of ROSA Partial Knee System

WASHINGTON (dpa-AFX) - Zimmer Biomet Holdings, Inc. (ZBH) announced FDA 510(k) clearance of the ROSA Partial Knee System for robotically-assisted partial knee replacement surgeries. The ROSA Partial Knee System features 2D to 3D X-Atlas imaging technology and real-time, intraoperative data collection on soft-tissue and bone anatomy to improve bone cut accuracy and range of motion gap analysis. The ROSA Partial Knee System is the newest addition to ROSA Robotics, Zimmer Biomet's multiple application robotics platform. The ROSA Partial Knee System is designed for compatibility with Persona Partial Knee, a partial knee implant system.Copyright RTT News/dpa-AFX
20.04.2021

Iridium Reiterates FY21 Outlook

WASHINGTON (dpa-AFX) - While reporting financial results for the first quarter on Tuesday, Iridium Communications Inc. (IRDM) reiterated its total service revenue growth guidance for the full-year 2021.For fiscal 2021, the company continues to project total service revenue growth of approximately 3 percent, compared to the $463.1 million reported in 2020.On average, analysts polled by Thomson Reuters expect the company to report revenues of $605.20 million for the year.'We feel very good about Iridium's ability to accelerate service revenue growth over the balance of the year based upon the positive feedback and activity we are seeing with our business partners,' said Matt Desch, CEO, Iridium.Copyright RTT News/dpa-AFX
20.04.2021

XL Fleet Names Cielo Hernandez As New CFO

WASHINGTON (dpa-AFX) - XL Fleet Corp. (XL) announced Tuesday the addition of Cielo Hernandez as Chief Financial Officer of XL Fleet. As CFO, Hernandez will oversee the Company's financial organization, including financial reporting, financial planning, internal controls, as well as treasury.Hernandez's extensive experience and capability will also contribute to strategic planning, M&A, and investor relations. Hernandez is a finance professional with more than 25 years of experience, with an extensive track record of leading global teams and strategies for both publicly traded and private companies. She has held various positions in finance, operations, procurement and information systems.Prior to joining XL Fleet, she served as Senior Vice President and CFO of South Jersey Industries, Inc., a publicly traded energy utility company. She previously served as Vice President and CFO for the North America region at A.P. Moeller Maersk A/S, and held leadership roles at APM Terminals, Amcor and DIRECTV.Copyright RTT News/dpa-AFX
20.04.2021

Lockheed Martin Boosts FY21 Outlook

BETHESDA (dpa-AFX) - While reporting financial results for the first quarter on Tuesday, Lockheed Martin Corp. (LMT) raised its earnings and net sales outlook for the full-year 2021.For fiscal 2021, the company now projects earnings in a range of $26.40 to $26.70 per share on net sales between $67.30 billion and $68.70 billion.Previously, the company expected earnings in the range of $26.00 to $26.30 per share on net sales between $67.10 billion and $68.50 billion.On average, analysts polled by Thomson Reuters expect the company to report earnings of $26.31 per share on net sales of $68.17 billion for the year. Analysts' estimates typically exclude special items.Copyright RTT News/dpa-AFX
20.04.2021

Eli Lilly Says 2nd Late-stage Study Of Baricitinib Achieved Main Goal

INDIANAPOLIS (dpa-AFX) - Eli Lilly and Company (LLY) and Incyte (INCY) today reported the second late-stage study of baricitinib met primary endpoint of improved hair regrowth in patients with alopecia areata (AA).AA is an autoimmune disease that causes patchy hair loss.The data from the second Phase 3 study of baricitinib in AA, dubbed BRAVE-AA1, are consistent with the first Phase 3 study, dubbed BRAVE-AA2, top-lined earlier this year. In both studies, a statistically significant proportion of patients treated with baricitinib 2-mg and 4-mg achieved the primary endpoint of hair regrowth at Week 36 compared to patients treated with placebo, the companies said.'There is a pressing need for approved treatment options for people suffering from alopecia areata as existing topicals and steroids do not provide meaningful improvement for many patients,' said Maryanne Senna, dermatologist and assistant professor of dermatology at Harvard Medical School and clinical trial investigator of BRAVE-AA1.Lilly plans to submit a supplemental New Drug Application (sNDA) to the FDA for baricitinib in AA in the second half of 2021.Baricitinib is approved and commercially available as Olumiant in the U.S. and more than 70 countries for the treatment of rheumatoid arthritis and in Europe and Japan for the treatment of atopic dermatitis.Copyright RTT News/dpa-AFX
20.04.2021

U.S. Stocks Continue To Give Back Ground In Morning Trading

WASHINGTON (dpa-AFX) - Stocks have moved mostly lower over the course of morning trading on Tuesday, extending the pullback seen in the previous session. The major averages have all slid firmly into negative territory.The major averages have seen further downside in recent trading, falling to new lows for the session. The Dow is down 245.25 points or 0.7 percent at 33,832.38, the Nasdaq is down 112.74 points or 0.8 percent at 13,802.03 and the S&P 500 is down 26.31 points or 0.6 percent at 4,136.95.The weakness that has emerged on Wall Street comes as traders continue to cash in on the recent strength in the markets.Profit taking also contributed to the pullback on Monday after the Dow and the S&P 500 ended last Friday's trading at new record closing highs.A new wave of coronavirus infections overseas is also weighing on the markets amid concerns about new restrictions and the impact on the global economy.Meanwhile, traders have largely shrugged off upbeat earnings news from companies like Procter & Gamble (PG), Johnson & Johnson (JNJ) and Travelers (TRV).Airline stocks have moved sharply lower in morning trading, resulting in a 5 percent nosedive by the NYSE Arca Airline Index. United Airlines (UAL) has helped lead the sector lower, tumbling by 8.5 percent after reporting a wider than expected first quarter loss.Significant weakness has also emerged among energy stocks, with the Philadelphia Oil Service Index and the NYSE Arca Oil Index slumping by 4.5 percent and 3.5 percent, respectively.Tobacco stocks are also seeing considerable weakness after a report from the Wall Street Journal said the Biden administration is considering requiring tobacco companies to lower the nicotine in all cigarettes sold in the U.S.Steel, financial, and networking stocks have also shown notable moves to the downside on the day, while some strength is visible among commercial real estate and utilities stocks.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Tuesday. Japan's Nikkei 225 Index plunged by 2 percent, while China's Shanghai Composite Index edged down by 0.2 percent.The major European markets have also moved to the downside on the day. While the French CAC 40 Index has tumbled by 1.8 percent, the U.K.'s FTSE 100 Index is down by 1.5 percent and the German DAX Index is down by 1.2 percent.In the bond market, treasuries are regaining ground following the pullback seen over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.9 basis points at 1.582 percent.Copyright RTT News/dpa-AFX
20.04.2021

Bayer, RAGT To Develop Hybrid Wheat Seeds For European Markets

LEVERKUSEN (dpa-AFX) - Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L) said that the company and RAGT have collaborated to jointly develop state-of-the-art hybrid wheat varieties for European markets.Bayer noted that the companies will pool their strengths by combining Europe's soft wheat genetics with access to the latest breeding methodologies, high-performing seed production systems and advanced digital solutions.RAGT Semences is developing a multi-species activity in France and in the world that meets the needs of crop rotation imposed by environmental issues, technical requirements and the CAP.Copyright RTT News/dpa-AFX
20.04.2021

U.S. Stocks May Extend Yesterday's Pullback In Early Trading

WASHINGTON (dpa-AFX) - Following the pullback seen in the previous session, U.S. stocks are likely to see further downside in early trading on Tuesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 132 points.The downward momentum on Wall Street comes as traders appear poised to continue cashing in on recent strength in the markets.Profit taking also contributed to the weakness on Monday after the Dow and the S&P 500 ended last Friday's trading at new record closing highs.A new wave of coronavirus infections overseas may also weigh on the markets amid concerns about new restrictions and the impact on the global economy.Overall trading activity may be somewhat subdued, however, with another quiet day on the U.S. economic front keeping some traders on the sidelines.Upbeat earnings news from companies like Procter & Gamble (PG), Johnson & Johnson (JNJ) and Travelers (TRV) may also help limit any downside.U.S. stocks closed mostly lower on Monday, pulling back off the historic highs set last Friday, as investors largely stayed cautious amid a lack of triggers and looked ahead to more earnings news and economic data.Further, geopolitical concerns and worries about spikes in coronavirus cases in several countries raised uncertainty about the pace of global the economic recovery, contributing to the lackluster movements in the market.The major averages all ended in negative territory. The Dow ended down 123.04 points or 0.4 percent at 34,077.63. The S&P 500 closed lower by 22.21 points or 0.5 percent at 4,163.26 and the tech-heavy Nasdaq ended down 137.58 points or 1 percent at 13,914.77.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Tuesday. Japan's Nikkei 225 Index plunged by 2 percent, while China's Shanghai Composite Index edged down by 0.2 percent.The major European markets have also moved to the downside on the day. While the French CAC 40 Index has tumbled by 1.5 percent, the U.K.'s FTSE 100 Index is down by 1.2 percent and the German DAX Index is down by 0.9 percent.In commodities trading, crude oil futures are climbing $0.38 to $63.76 a barrel after rising $0.25 to $63.38 barrel on Monday. Meanwhile, after sliding $9.60 to $1,770.60 an ounce in the previous session, gold futures are inching up $2.10 to $1,772.70 an ounce.On the currency front, the U.S. dollar is trading at 108.43 yen compared to the 108.17 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.2043 compared to yesterday's $1.2037.Copyright RTT News/dpa-AFX
20.04.2021

Wall Street Might Open In Negative

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Early cues from the U.S. Futures Index point that Wall Street might open in negative. Investor optimism is low due to the possible restrictions on economic activity due to the Covid situation. The continuing spread of the COVID-19 virus is a cause of worry for investors across the world. The U.K. has imposed travel restrictions. India recorded more than 200,000 cases of infections on a daily basis. Brazil reported nearly 50000 daily cases. Asian shares finished lower, while European shares are trading down.As of 7.45 am ET, the Dow futures were declining 123.00 points, the S&P 500 futures were down 15.50 points and the Nasdaq 100 futures were sliding 36.00 points.The U.S. major averages all ended in negative territory on Monday. The Dow ended down 123.04 points or 0.36 percent at 34,077.63. The S&P 500 closed lower by 22.21 points or 0.53 percent at 4,163.26 and the tech-laden Nasdaq ended down 137.58 points or 0.98 percent at 13,914.77.On the economic front, the Redbook data for the week will be released at 8.55 am. In the prior week, the Store Sales were up 13.2 percent. 52-week Treasury Bills auction will be held at 11.30 am ET. Asian stocks ended broadly lower on Tuesday. Chinese shares ended slightly lower. The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.The benchmark Shanghai Composite index slipped 4.61 points, or 0.13 percent, to 3,472.94, while Hong Kong's Hang Seng index edged up 29.58 points, or 0.10 percent, to 29,135.73.Japanese shares tumbled amid growing COVID-19 concerns. The Nikkei average fell 584.99 points, or 1.97 percent, to 29,100.38, snapping a three-day winning streak.The broader Topix index closed 1.55 percent lower at 1,926.25 as investors took in calls for new states of emergency in the Osaka region and possibly Tokyo.Australian markets slipped from 14-month highs. The benchmark S&P/ASX 200 index dropped 47.80 points, or 0.68 percent, to 7,017.80 after five days of gains. The broader All Ordinaries index ended down 45.90 points, or 0.63 percent, at 7,282.10.European shares are trading mostly lower. Among the major indexes in the region, the CAC 40 Index of France is declining 85.70 points or 1.36 percent. The German DAX is losing 118.67 points or 0.77 percent, the U.K. FTSE 100 Index is down 79.29 points or 1.13 percent. The Swiss Market Index is declining 78.66 points or 0.70 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.13 percent.Copyright RTT News/dpa-AFX
20.04.2021

Oil Prices Rise On Libya Force Majeure

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Oil prices rose on Tuesday after Libya's National Oil Corp (NOC) declared force majeure on exports from the port of Hariga and said it could extend the measure to other facilities due to a budget dispute with the country's central bank. The dispute hinders the OPEC member's ability to fix war-damaged infrastructure and risks derailing a recovery in Libya's production.Brent crude futures for June delivery rose 63 cents, or 0.9 percent, to $67.68 per barrel, after having breached $68, the highest since March 18, earlier in the day. U.S. West Texas Intermediate (WTI) crude futures were up 56 cents, or 0.9 percent, at $63.99 a barrel. Arabian Gulf Oil Co (AGOCO), the NOC subsidiary which runs Hariga, said on Sunday it had suspended output because it had not received its budget since September.A weak U.S. dollar also underpinned prices as investors await supply data from the American Petroleum Institute. Traders expect a drop in U.S. crude oil and distillate stockpiles last week.OPEC+ is scheduled to meet on April 28 to consider further tweaks to its supply pact.Copyright RTT News/dpa-AFX
20.04.2021

European Shares Fall As Bond Yields Tick Up

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell on Tuesday, pulling back from record highs reached a day earlier as the yield on the 30-year Treasury bond climbed and new Covid-19 cases continued to rise around the world, raising concerns over a disconnect between fundamentals and high equity valuations.U.S. Treasury yields rose as investors awaited the outcome of auctions set to be held for $34 billion of 52-week bills and $40 billion of 42-day bills.Focus now shifts to the European Central Bank meeting on Thursday, which investors hope will give more clarity about stimulus plans for the bloc.The pan European Stoxx 600 fell 0.8 percent to 438.73 after ending flat with a negative bias on Monday. The German DAX dropped 0.4 percent, France's CAC 40 index shed 1 percent and the U.K.'s FTSE 100 was down 0.7 percent. The British pound rose broadly versus its major peers after official figures showed Britain's unemployment rate unexpectedly fell for a second month in a row to 4.9 percent in the December to February period.British American Tobacco shares slumped 6.3 percent, Imperial Brands plummeted 5.9 percent and Swedish Match gave up 2.5 percent after reports that the Biden administration is considering requiring tobacco companies to reduce the nicotine levels in all cigarettes sold in the United States.Real estate investment trust Hammerson lost 3.4 percent after it appointed Himanshu Raja as Chief Financial Officer and Executive Director, effective 26 April 2021.Moneysupermarket.com declined 2.6 percent after its first-quarter revenue fell by 20 percent compared to 2020.Associated British Foods was down 1.7 percent after the food processing firm reported a fall in pretax profit for the first half of fiscal 2021.Danone SA shares fell 2.5 percent. The food company reported that its first-quarter consolidated sales were 5.66 billion euros, down 9.4 percent from 5.66 billion euros last year.Deutz AG rose over 1 percent. The internal combustion engine manufacturer raised its full-year guidance for 2021 after reporting a 1 percent rise in first-quarter revenue.Luxury carmaker BMW gained half a percent. The company reported sales growth in all significant regions of the world, in particular in China, and all brands in the first quarter of 2021.K+S Group shares advanced 1.6 percent. The chemical company said it received allowance from the U.S. Justice Department for the sale of the Americas operating unit.Medical technology company Getinge soared 5 percent after reporting a rise in first-quarter core profit.Specialty chemicals company Sika gained 1.2 percent. The company said that its sales for the first-quarter were CHF 1.999 billion, representing an increase of 12.6 percent in local currencies from last year.Copyright RTT News/dpa-AFX
20.04.2021

FTSE 100 Edges Lower Amid Rise In Pound

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks fell on Tuesday and the pound rose broadly versus its major peers after official figures showed Britain's unemployment rate unexpectedly fell for a second month in a row to 4.9 percent in the December to February period.The benchmark FTSE 100 fell 42 points, or 0.6 percent, to 6,957 after closing 0.3 percent lower the previous day. British American Tobacco shares slumped 6.3 percent and Imperial Brands plummeted 5.9 percent after reports that the Biden administration is considering requiring tobacco companies to reduce the nicotine levels in all cigarettes sold in the United States.Real estate investment trust Hammerson lost 3.4 percent after it appointed Himanshu Raja as Chief Financial Officer and Executive Director, effective 26 April 2021. Moneysupermarket.com declined 2.6 percent after its first-quarter revenue fell by 20 percent compared to 2020.Associated British Foods was down 1.7 percent after the food processing firm reported a fall in pretax profit for the first half of fiscal 2021.Copyright RTT News/dpa-AFX
20.04.2021

CAC 40 Edges Lower As Yields Rise

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks fell notably on Tuesday as bond yields rose and focus shifted to the European Central Bank meeting on Thursday, which investors hope will give more clarity about stimulus plans for the bloc.U.S. Treasury yields rose as investors awaited the outcome of auctions set to be held for $34 billion of 52-week bills and $40 billion of 42-day bills.The benchmark CAC 40 dropped 54 points, or 0.9 percent, to 6,243 after closing 0.2 percent higher in the previous session. Danone SA shares fell 2.5 percent. The food company reported that its first-quarter consolidated sales were 5.66 billion euros, down 9.4 percent from 5.66 billion euros last year.Danone expects to be back to like-for-like growth in second quarter, and to return to profitable growth in the second half of 2021.Copyright RTT News/dpa-AFX
20.04.2021

DAX Slips Into Red On Valuation Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks edged lower on Tuesday as the yield on the 30-year Treasury bond climbed and new Covid-19 cases continued to rise around the world, raising concerns over a disconnect between fundamentals and high equity valuations. The benchmark DAX dropped 44 points, or 0.3 percent, to 15,324 after declining 0.6 percent on Monday. Deutz AG rose over 1 percent. The internal combustion engine manufacturer raised its full-year guidance for 2021 after reporting a 1 percent rise in first-quarter revenue. Luxury carmaker BMW gained half a percent. The company reported sales growth in all significant regions of the world, in particular in China, and all brands in the first quarter of 2021.K+S Group shares gained nearly 2 percent. The chemical company said it received allowance from the U.S. Justice Department for the sale of the Americas operating unit. In economic releases, German producer price inflation accelerated sharply to 3.7 percent in March from 1.9 percent in February, driven by higher energy and intermediate product prices, Destatis reported. This was the biggest increase since November 2011 and faster than the expected rate of 3.3 percent.Month-on-month, producer prices gained 0.9 percent versus a 0.7 percent rise in the prior month. Economists had expected a 0.6 percent rise.Copyright RTT News/dpa-AFX
20.04.2021

Asian Shares Broadly Lower On Covid-19 Worries

CANBERA (dpa-AFX) - Asian stocks ended broadly lower on Tuesday as surging coronavirus cases in the region and the possible restrictions on economic activity in several countries dented investor optimism about a global economic recovery.Chinese shares ended slightly lower as the country's central bank kept its benchmark lending rates unchanged, as widely expected. The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.The benchmark Shanghai Composite index slipped 4.61 points, or 0.13 percent, to 3,472.94, while Hong Kong's Hang Seng index edged up 29.58 points, or 0.10 percent, to 29,135.73.Japanese shares tumbled amid growing concerns over another virus state of emergency in the country just three months before the country hosts the Olympics. The Nikkei average fell 584.99 points, or 1.97 percent, to 29,100.38, snapping a three-day winning streak. The broader Topix index closed 1.55 percent lower at 1,926.25 as investors took in calls for new states of emergency in the Osaka region and possibly Tokyo.Toyota Motor dropped 1.2 percent after a report the carmaker sees 'cloudier' chip supply later this year. Subaru lost 2.8 percent after saying it was suspending production at its plant in Indiana through the end of April due to chip shortages.SoftBank Group declined 1.8 percent after the U.K. government said it would look into the national security implications of U.S. group Nvidia's purchase of British chip designer Arm Holdings.Australian markets slipped from 14-month highs, with banks and tech companies retreating. The benchmark S&P/ASX 200 index dropped 47.80 points, or 0.68 percent, to 7,017.80 after five days of gains. The broader All Ordinaries index ended down 45.90 points, or 0.63 percent, at 7,282.10.Tech stocks declined, with Xero and Appen falling around 1.4 percent. Buy-now-pay-later company Afterpay shed 0.8 percent after saying it is exploring a U.S. listing.The big four banks ended down between half a percent and 1.2 percent. Mining giant Rio Tinto gave up half a percent after releasing its first-quarter production results.Lynas Rare Earths slumped 8.3 percent after it reported a slight drop in its quarterly rare earths output. Challenger plummeted 15.8 percent after the retirement income and investment manager said normalized profit for the full-year 2021 will be nearer to the bottom of its guidance range.In economic news, minutes from the RBA's monetary policy meeting on April 6 showed that the central bank is in no hurry to tighten policy settings. Seoul stocks hit a record high amid strong buying by foreign investors ahead of earnings from carmakers and tech firms. The benchmark Kospi rose 21.86 points, or 0.68 percent, to 3,220.70, marking a record closing high and extending gains for the seventh straight session.New Zealand shares ended lower, dragged down by utilities. The benchmark NX-50 index dropped 89.28 points, or 0.70 percent, to 12,678.55 while shares of Meridian Energy, Mercury NZ and Contact Energy lost 2-3 percent.U.S. stocks slipped from record highs overnight as investors looked ahead to more earnings news and economic data to gauge whether high valuations are justified. The Dow slipped 0.4 percent, the S&P 500 shed half a percent and the tech-heavy Nasdaq Composite lost 1 percent.Copyright RTT News/dpa-AFX
20.04.2021
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20.04.2021

Greece Current Account Gap Narrows In February

BRUSSELS (dpa-AFX) - Greece's current account deficit declined in February underpinned by an improvement in the balance of goods and primary income, the Bank of Greece reported Tuesday.The current account gap fell by EUR 314 million from the last year to EUR 840 million in February. Driven by a 9.5 percent rise in exports, the visible trade deficit narrowed to EUR 1.33 billion from EUR 1.79 billion last year. Meanwhile, the surplus on services trade declined to EUR 230.1 million from EUR 386.9 million a year ago. The surplus of the primary income account more than doubled, mainly on account of lower net interest, dividend and profit payments. Primary income totaled EUR 346.8 million versus EUR 155.9 million a year ago.The secondary income account recorded a deficit, chiefly as a result of higher general government payments. The deficit on secondary income was EUR 83.5 million compared to a surplus of EUR 96.5 million last year.In the January-February 2021 period, the current account showed a deficit of EUR 1.3 billion, down by EUR 1.2 billion year-on-year. In February, the capital account registered a deficit of EUR 3.2 million, against a surplus of EUR 107 million year-on-year, data showed.Copyright RTT News/dpa-AFX
20.04.2021

UK Unemployment Rate Falls Unexpectedly

LONDON (dpa-AFX) - Despite restrictions related to the coronavirus pandemic, the UK unemployment rate dropped unexpectedly in the three months to February as the government continues its job furlough scheme.The jobless rate fell to 4.9 percent in three months to February, data from the Office for National Statistics showed on Tuesday. Economists had forecast the rate to rise to 5.1 percent from 5 percent in three months to January.An estimated 1.67 million people were unemployed, down 50,000 on the quarter. This was the first quarterly decrease since October to December 2019.At the same time, the employment rate dropped 0.1 percentage points from the previous quarter to 75.1 percent.Employment may be closer to a trough than most people realize, Thomas Pugh, an economist at Capital Economics, said. Even though a rise in the unemployment rate is expected, the bulk of that will be driven by those who left the labor force returning, rather than people losing their jobs, the economist said. James Smith, an ING economist said, he still expects it to take some time for employment to totally recover, and it is worth remembering that the upheaval caused by the new EU-UK relationship will also add pressure over time. But barring any more Covid surprises, it is possible that the jobless rate will gradually fall again by the end of the year, the economist noted.Annual growth in average employee pay continued to strengthen, the growth was driven in part by compositional effects of a fall in the number and proportion of lower-paid employee jobs.In three months to February, average earnings including bonus grew 4.5 percent annually, slower than the expected growth of 4.8 percent. Meanwhile, excluding bonus, earnings advanced 4.4 percent, which was bigger than the forecast of 4.2 percent.In March, the claimant count rate held steady at 7.3 percent. The number of people claiming unemployment benefits increased by 10,100 from February.Copyright RTT News/dpa-AFX
20.04.2021

Czech Producer Prices Increases In March

PRAG (dpa-AFX) - The Czech Republic's producer prices increased in March, figures from the Czech Statistical Office showed on Tuesday.The industrial producer price index grew 3.3 year-on-year in March, following a 1.4 percent increase in February. Economists had expected a 2.6 percent rise.Prices for water supply gained 6.9 percent yearly in March. Prices for manufacturing products cost surged 4.1 percent and those of electricity, gas, steam and air conditioning rose 0.1 percent.Meanwhile, prices for mining and quarrying declined by 0.3 percent.Prices for durable consumer goods and intermediate goods rose by 3.6 percent and 3.5 percent, respectively.Meanwhile, prices for energy accelerated 5.6 percent and those for intermediate goods gained 5.4 percent.On a monthly basis, producer prices rose 1.4 percent in March. Economists had forecast a 0.8 percent rise.Copyright RTT News/dpa-AFX
20.04.2021

Germany Producer Price Inflation Highest Since 2011

BERLIN (dpa-AFX) - Germany's producer prices increased in March at the fastest pace since late 2011 driven by higher energy and intermediate product prices, Destatis reported Tuesday.Producer price inflation accelerated sharply to 3.7 percent in March from 1.9 percent in February. This was the biggest increase since November 2011.Month-on-month, producer prices gained 0.9 percent versus a 0.7 percent rise in the prior month.Energy prices increased 8.0 percent compared to March 2020 and the cost of intermediate goods gained 5.7 percent, which was the biggest since July 2011. Prices of durable consumer goods climbed 1.4 percent annually and that of capital goods, such as machines and vehicles, by 0.9 percent. Meanwhile, non-durable consumer goods prices decreased 1.4 percent.Copyright RTT News/dpa-AFX
20.04.2021

Estonia Producer Prices Rise In March

BRUSSELS (dpa-AFX) - Estonia's producer prices increased in March, data from Statistics Estonia showed on Tuesday.The producer price index rose 4.8 percent year-on-year in March. Compared to March last year, the producer price index was affected the most by increased prices in electricity production and in the manufacture of electronic equipment, and wood and wood products,' Eveli Sokman, leading analyst at Statistics Estonia, said.'The index was also influenced by price decreases in mining and quarrying and in the manufacture of food products and electrical equipment,' Sokman said.On a month-on-month basis, producer prices fell 0.2 percent in March.Import prices rose 1.6 percent monthly in March and increased 3.4 percent from a year ago.Export prices grew 1.5 percent monthly in March and increased 6.4 percent yearly.Copyright RTT News/dpa-AFX
20.04.2021

UK Jobless Rate Drops Unexpectedly

LONDON (dpa-AFX) - The UK unemployment rate dropped unexpectedly in three months to February, data from the Office for National Statistics showed on Tuesday. The jobless rate fell to 4.9 percent in three months to February. Economists had forecast the rate to rise to 5.1 percent from 5 percent in three months to January.At the same time, the employment rate dropped 0.1 percentage points from the previous quarter to 75.1 percent.Annual growth in average employee pay continued to strengthen, the growth was driven in part by compositional effects of a fall in the number and proportion of lower-paid employee jobs.In three months to February, average earnings including bonus grew 4.5 percent annually and earnings excluding bonus advanced 4.4 percent.In March, the claimant count rate held steady at 7.3 percent. The number of people claiming unemployment benefits increased by 10,100 from February.Copyright RTT News/dpa-AFX
20.04.2021

Pound Appreciates Amid Fall In U.K. Jobless Rate

BRUSSELS (dpa-AFX) - The pound was higher against its major counterparts in the European session on Tuesday, as the U.K. unemployment rate unexpectedly fell in the December to February period.Data from the Office for National Statistics showed that the jobless rate fell to 4.9 percent in three months to February. Economists had forecast the rate to rise to 5.1 percent from 5 percent in three months to January.At the same time, the employment rate dropped 0.1 percentage points from the previous quarter to 75.1 percent.Annual growth in average employee pay continued to strengthen, the growth was driven in part by compositional effects of a fall in the number and proportion of lower-paid employee jobs.In three months to February, average earnings including bonus grew 4.5 percent annually and earnings excluding bonus advanced 4.4 percent.In March, the claimant count rate held steady at 7.3 percent. The number of people claiming unemployment benefits increased by 10,100 from February. European stocks fell, pulling back from record highs reached a day earlier as the yield on the 30-year Treasury bond climbed and new Covid-19 cases continued to rise around the world, raising concerns over a disconnect between fundamentals and high equity valuations.The pound spiked higher to 1.2817 against the franc, its highest level in nearly two weeks. If the pound climbs further, 1.29 is likely seen as its next resistance level.The pound jumped to near a 2-week high of 151.98 against the yen from Monday's close of 151.20. On the upside, 153.00 is possibly seen as its next resistance level. Data from the Ministry of Economy, Trade and Industry showed that Japan's tertiary activity rose for the first time in three months in February.The tertiary activity index grew 0.3 percent month-on-month in February, after a 1.0 percent decrease in January.The pound held at its strongest level since March 4 against the dollar, at 1.4009. The pound is seen finding resistance around the 1.42 area. In contrast, the pound edged lower to 0.8634 against the euro, compared to Monday's closing quote of 0.8604. The pound is likely to find support around the 0.88 region.Data from Destatis showed that Germany's producer prices increased in March at the fastest pace since late 2011 driven by higher energy and intermediate product prices.Producer price inflation accelerated sharply to 3.7 percent in March from 1.9 percent in February. This was the biggest increase since November 2011 and faster than the expected rate of 3.3 percent.Copyright RTT News/dpa-AFX
20.04.2021

Australian Dollar Advances After RBA Minutes

CANBERA (dpa-AFX) - The Australian dollar climbed against its major counterparts in the Asian session on Tuesday, after the minutes from the Reserve Bank of Australia's latest meeting showed that policy makers assessed that the country's economic recovery from the COVID-19 pandemic was proceeding more quickly than anticipated.Minutes from the RBA's April 6 meeting showed that members were worried over the unemployment and subdued price pressures. To that end, the bank said it does not expect to hike its benchmark lending rate from the current record low of 0.10 percent until at least 2024 at the earliest. At the meeting, the bank kept its benchmark lending rate unchanged at the record low of 0.10 percent. The central bank retained the target yield on the 3-year Australian government bond at around 0.1 percent.Further, China kept its benchmark lending rates unchanged, as widely expected.The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.Asian markets are trading mixed as investors weighed corporate earnings and recent spikes in virus cases. U.S. President Joe Biden held a meeting on Monday with a bipartisan group of lawmakers who have all served as governors or mayors, as the White House seeks a deal on his more than $2 trillion jobs and infrastructure proposal.'I am prepared to compromise and prepared to see what we can do and what we can come together on,' Biden said at the outset of the meeting.The aussie climbed to a 4-day high of 1.5442 against the euro and near a 6-week high of 0.9756 against the loonie, off its early lows of 1.5524 and 0.9711, respectively. The aussie is seen finding resistance around 1.49 against the euro and 1.00 against the loonie.The aussie touched near 5-week highs of 0.7809 against the greenback and 84.70 against the yen, rising from its prior lows of 0.7751 and 83.79, respectively. The next possible resistance for the aussie is seen around 0.80 against the greenback and 0.88 against the yen.The aussie recovered to 1.0823 against the kiwi, from more than a 4-week low of 1.0790 seen earlier in the session. On the upside, 1.105 is possibly seen as its next resistance level.Copyright RTT News/dpa-AFX
20.04.2021

Pound Little Changed After UK Unemployment Data

BRUSSELS (dpa-AFX) - At 2.00 am ET Tuesday, the Office for National Statistics has released UK labor market data for February. The pound changed little against its major rivals after the data.The pound was trading at 1.4003 against the greenback, 151.54 against the yen, 1.2807 against the franc and 0.8610 against the euro around 2.05 am ET.Copyright RTT News/dpa-AFX
20.04.2021

Euro Little Changed Following German PPI

BRUSSELS (dpa-AFX) - Destatis has published German producer prices for March at 2.00 am ET Tuesday. The euro changed little against its major rivals after the data.The euro was trading at 130.51 against the yen, 1.2060 against the greenback, 0.8611 against the pound and 1.1027 against the franc around 2.05 am ET.Copyright RTT News/dpa-AFX
20.04.2021

Euro Mixed Ahead Of German PPI

BRUSSELS (dpa-AFX) - Destatis is slated to issue Germany's producer prices for March at 2.00 am ET Tuesday. Inflation is seen rising to 3.3 percent from 1.9 percent in February.Ahead of the data, the euro traded mixed against its major counterparts. While the euro rose against the franc, it held steady against the rest of major counterparts.The euro was worth 130.48 against the yen, 1.2062 against the greenback, 0.8612 against the pound and 1.1031 against the franc at 1:55 am ET.Copyright RTT News/dpa-AFX
20.04.2021

Pound Steady Ahead Of UK Unemployment Data

BRUSSELS (dpa-AFX) - At 2.00 am ET Tuesday, the Office for National Statistics releases UK labor market data for February. The jobless rate is forecast to rise to 5.1 percent in three months to February from 5 percent in the preceding period.Ahead of the data, the pound held steady against its major rivals. The pound was worth 1.3998 against the greenback, 151.47 against the yen, 1.2803 against the franc and 0.8615 against the euro as of 1:55 am ET.Copyright RTT News/dpa-AFX
19.04.2021

Dollar's Weak Run Continues

WASHINGTON (dpa-AFX) - The U.S. dollar weakened against other major currencies on Monday, as a drop in U.S. treasury yields amid rising hopes the interest rates will remain near zero levels for longer duration.Fed officials have been regularly hinting that the central bank will continue to hold interest rates near zero for the foreseeable future. Christophen Waller, the newest governor on the Federal Reserve's Washington-based board, said on Friday that any accompanying spike in inflation will prove short-lived- echoing the view of most U.S. central bankers.The dollar index dropped to more than one-month low, sliding to 91.03, and losing about 0.6%.Against the Euro, the dollar weakened to 1.2038, losing nearly 0.5%. The euro area current account surplus declined in February largely due to a fall in the goods trade surplus, data published by the European Central Bank showed. The current account surplus totaled EUR 26 billion versus a EUR 35 billion surplus in January.The surplus on goods trade fell to EUR 32 billion from EUR 38 billion and that on services trade decreased to EUR 11 billion from EUR 12 billion in the previous month.The Pound Sterling firmed up against the dollar, fetching $1.3986 a unit, more than 1% from previous close.The Yen was stronger at 108.14, gaining from around 108.75. The greenback shed ground against the loonie and the Aussie as well.Copyright RTT News/dpa-AFX
19.04.2021

U.S. Dollar Drops As Yields Fall

CANBERA (dpa-AFX) - The U.S. dollar weakened against its major counterparts in the European session on Monday, as U.S. treasury yields fell amid growing hopes that the Fed will keep interest rates near zero levels for longer duration.The benchmark U.S. 10-year Treasury yields edged lower towards multi-week lows touched last week after the U.S. Federal Reserve reiterated its view that any spike in inflation was likely to be temporary.Christopher Waller, the newest governor on the Federal Reserve's Washington-based board, said on Friday that any accompanying spike in inflation will prove short-lived- echoing the view of most U.S. central bankers.On the vaccine front, half of all adults in the U.S. have received at least one COVID-19 shot, marking another milestone in the nation's vaccination campaign.Earnings results are in focus, with Coca-Cola, IBM, Johnson & Johnson, Netflix, Intel, American Express and Honeywell set to unveil their quarterly results this week.The dollar index was down at its lowest levels in more than a month, at 91.13.The greenback slipped to 1-1/2-month lows of 0.9129 against the franc and 1.2048 against the euro, from its early high of 0.9215 and a 5-day high of 1.1943, respectively. The greenback is likely to test support around 0.88 against the franc and 1.24 against the euro, if it drops further.The greenback touched 1.3927 against the pound, its weakest level since March 19, while hitting a 1-1/2-month low of 108.01 against the yen. The greenback is poised to find support around 1.40 against the pound and 106.00 against the yen.The greenback declined to near 5-week lows of 1.2471 against the loonie, 0.7785 against the aussie and 0.7198 against the kiwi, off its early high of 1.2529, 4-day high of 0.7706 and a 5-day high of 0.7122, respectively. Next key support for the greenback is seen around 1.21 against the loonie, 0.79 against the aussie and 0.74 against the kiwi.Looking ahead, at 8:15 am ET, Canada housing starts for March will be published.Copyright RTT News/dpa-AFX
19.04.2021

New Zealand Dollar Appreciates Against Majors

CANBERA (dpa-AFX) - The New Zealand dollar climbed against its major counterparts in the Asian session on Monday, as expectations of accommodative monetary policy and vaccine rollouts helped ease fears over rising Covid-19 infections.U.S. treasury yields hovered near the lowest in five weeks, after the U.S. Federal Reserve asserted that any inflationary pick up will be temporary, implying that it should not curtail the recovery.Half of all adults in the U.S. have received at least one COVID-19 shot, marking another milestone in the nation's vaccination campaign.Earnings results are in focus, with Coca-Cola, IBM, Johnson & Johnson, Netflix, Intel, American Express and Honeywell set to unveil their quarterly results this week.The European Central Bank meets on Thursday with no changes to rates or guidance expected.The kiwi edged up to 0.7174 against the greenback and 77.67 against the yen, off its early 5-day lows of 0.7122 and 77.40, respectively. The next possible resistance for the kiwi is seen around 0.74 against the greenback and 79.00 against the yen.The kiwi reversed from its early low of 1.6797 against the euro, rising to 1.6732. The kiwi is seen finding resistance around the 1.62 level.After falling to a 6-day low of 1.0844 at 5:00 pm ET, the kiwi recovered to 1.0816 against the aussie and held steady thereafter. On the upside, 1.03 is possibly seen as its next resistance level.Looking ahead, Eurozone current account and construction output for February are due in the European session.At 8:15 am ET, Canada housing starts for March will be published.Copyright RTT News/dpa-AFX
19.04.2021

Indian Rupee Weakens To 4-day Low Against U.S. Dollar

NEW DELHI (dpa-AFX) - The Indian rupee slipped against the U.S. dollar in the morning session on Monday, as soaring Covid-19 cases and reimposition of restrictions sparked worries about the economic recovery.As India's daily tally of Covid-19 infections hit records, experts say that localized lockdowns will hurt the economic recovery from the pandemic.The benchmark S&P BSE Sensex slipped 1,199 points, or 2.46 percent, to 47,632, while the broader NSE Nifty index was down 356 points, or 2.44 percent, at 14,261.The Indian rupee fell to a 4-day low of 74.95 against the greenback from Friday's close of 74.48. Next key support for the rupee is seen around the 76.00 region.Copyright RTT News/dpa-AFX

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