dpa-AFX NEWSTICKER (product sample)

15.02.2019

Toro Company To Acquire Charles Machine Works Inc For $700 Mln

WASHINGTON (dpa-AFX) - The Toro Company (TTC) announced that it has entered into a definitive agreement to acquire privately-held The Charles Machine Works, Inc., an Oklahoma corporation and the parent company of Ditch Witch and several other leading brands in the underground construction market, for $700 million in cash. Headquartered in Perry, Oklahoma, Charles Machine Works designs, manufactures and sells a range of products to cover the full life-cycle of underground pipe and cable, including horizontal directional drills, walk and ride trenchers, utility loaders, vacuum excavators, asset locators, pipe rehabilitation solutions and after-market tools. The company generated calendar year 2018 revenues of approximately $725 million.Toro expects the transaction to be immediately accretive to EPS excluding purchase accounting adjustments and transaction related expenses. The company expects to finance the transaction with a combination of cash on hand and debt, including from additional financing arrangements and borrowings under its existing credit facility. The transaction is currently anticipated to close before the end of Toro's third quarter.Copyright RTT News/dpa-AFX
15.02.2019

Enbridge Names New Directors To Its Board; Reiterates FY19, FY20 Outlook

OTTAWA (dpa-AFX) - While reporting its fourth-quarter financial results on Friday, Enbridge Inc. (ENB, ENB.TO) said its board of directors has appointed Teresa Madden and Susan Cunningham as Directors of Enbridge.Madden has more than 30 years of power and utility industry experience, most recently as the former Executive Vice President and Chief Financial Officer of Xcel Energy, Inc., an electric and natural gas utility. She brings extensive industry, business and financial experience to the Board. Madden is currently a director of Peabody Energy Corp.Cunningham has more than 35 years of oil and gas industry experience in various executive leadership positions, most recently as former Executive Vice President of Noble Energy, Inc., an independent oil and natural gas exploration and production company. She brings extensive industry, technical and business experience to the Board. Cunningham is currently a director of Oil Search Ltd.Looking ahead, Enbridge further reiterated its guidance for the mid-point of the projected range of 2019 and 2020 Distributable Cash Flow or DCF per share of $4.45 per share and $5.00 per share, respectively. Beyond 2020, Enbridge is targeting to achieve annual DCF per share growth in the range of 5 percent to 7 percent. For 2019, Enbridge had earlier announced a 10 percent dividend increase and anticipates another 10 percent increase for 2020. The 2019 quarterly dividend of $0.738 per share will be payable on March 1, 2019, to shareholders of record on February 15, 2019.Copyright RTT News/dpa-AFX
15.02.2019

StoneMor Partners Q3 Loss Widens

WASHINGTON (dpa-AFX) - StoneMor Partners L.P. (STON) reported that its third quarter net loss widened to $17.2 million from last year's $9.6 million hurt largely by the unfavorable comparisons and lower overall sales resulting from the impact of cost cutting and implementation of the general manager operating model. Overall expenses increased as a result of adoption of ASC 606, as well as higher corporate overhead related to professional fees associated with delayed SEC filings, work related to our planned conversion to a C-Corp, and legal costs.Quarterly revenues were $73.2 million compared to $84.0 million in the prior year period. As previously reported, in 2017, revenues benefited from a large backlog of preneed cemetery merchandise that became available to be serviced. Third quarter revenues were also impacted by decreases of $4.7 million and $9.5 million, respectively, in investment and other income, primarily due to the adoption of ASC 606.Copyright RTT News/dpa-AFX
15.02.2019

Moody's Hikes Dividend; Announces $500 Mln Accelerated Share Buyback

WASHINGTON (dpa-AFX) - While reporting its fourth-quarter financial results on Friday, Moody's Corp. (MCO) forecast fiscal 2019 revenue growth in the mid-single-digit percent range, reported earnings in a range of $7.30 to $7.55 per share, and adjusted earnings in a range of $7.85 to $8.10 per share.The company projects strength in Moody's Analytics to offset expectations for flat to down issuance in global debt.On average, analysts polled by Thomson Reuters expect the company to report earnings of $7.94 per share for the year on revenues of $4.7 billion. Analysts' estimates typically exclude special items. In addition, Moody's announced a quarterly dividend of $0.50 per share of the company's common stock, a 14 percent increase from the prior quarterly dividend of $0.44 per share. This dividend will be payable on March 18, 2019 to stockholders of record at the close of business on February 25, 2019.Moody's also announced a $500 million accelerated share repurchase program expected to be complete during the second quarter of 2019.The company's outstanding shares as of December 31, 2018 totaled 191.3 million, approximately flat to December 31, 2017. As of December 31, 2018, Moody's had approximately $1.3 billion of share repurchase authority remaining.Copyright RTT News/dpa-AFX
15.02.2019

UK Court Rules Stobart' Decision To Dismiss Ex-director Tinkler 'lawful & Valid'

LONDON (dpa-AFX) - UK high court ruled that Stobart Group Limited's (STOB.L) decision to remove Andrew Tinkler as both an employee and a director was a 'lawful and valid act'. Tinkler's counterclaim for reinstatement as an employee and a director of the Company was rejected, the company said.The key findings of the judgment are that: Tinkler acted in breach of his fiduciary and contractual duties to the Company; The dismissal of Mr Tinkler as an employee of the Company on 14 June 2018 was a lawful and valid act; The removal of Mr Tinkler as a director of the Company on 14 June 2018 was a lawful and valid act.The key findings of the judgment are that Tinkler's counterclaim for reinstatement as an employee and a director of the Company was rejected; the Company did not establish its claim of an unlawful conspiracy.The Four Directors, being Iain Ferguson, Warwick Brady, John Coombs and Andrew Wood, did not breach their duties to the Company, except in respect of a transfer of 5,320,425 shares (equating to 1.5% of the Company's then issued share capital) to the Employee Benefit Trust ahead of the Company's AGM. However, the Court concluded that this transfer of shares was valid as a matter of law, and even if the votes for these shares had been discounted, Mr Ferguson would still have been re-elected; The resolution to re-elect Mr Ferguson at the AGM on 6 July 2018 was valid; The removal of Mr Tinkler as a director of the Company on 7 July 2018 (following his election at the AGM of 6 July 2018) was valid and effective.Copyright RTT News/dpa-AFX
15.02.2019

Deere & Co. Affirms FY19 Outlook

MOLINE (dpa-AFX) - While reporting its first quarter financial results on Friday, Deere & Co. (DE) affirmed its forecast for fiscal 2019 net sales and revenues to increase by about 7 percent, and full-year net income attributable to the company to be about $3.6 billion.Deere projects company equipment sales to increase by about 7 percent for fiscal 2019 compared with the prior year. Included in the forecast are Wirtgen results for the full fiscal year of 2019 compared with 10 months of the prior year. This adds about 1 percent to the company's net sales forecast for the current year. Also included in this forecast is a negative foreign-currency translation effect of about 2 percent for the year. On average, analysts polled by Thomson Reuters expect the company to report earnings of $11.47 per share for the year on revenues of $35.8 billion. Analysts' estimates typically exclude special items.Copyright RTT News/dpa-AFX
15.02.2019

PepsiCo Q4 Profit Matches Estimates; Organic Revenue Up 4.6%

PURCHASE (dpa-AFX) - PepsiCo, Inc. (PEP) reported fourth-quarter core EPS of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.49 for the quarter. Analysts' estimates typically exclude special items. Fourth-quarter income before income taxes were $1.94 billion, down 17% from previous year. Net income to PepsiCo was $6.85 billion compared to a loss of $710 million, last year. Reported EPS was $4.83, an increase from the $0.50 loss per share in the fourth quarter of 2017. For the fourth-quarter, reported net revenue was even with the prior year at $19.52 billion. Organic revenue grew 4.6 percent, for the quarter. Analysts expected revenue of $19.53 billion for the quarter. For full-year 2018, core EPS was $5.66, an increase of 8 percent. Excluding the impact of foreign exchange translation, core constant currency EPS increased 9 percent for the full year. Reported net revenue increased 2 percent. Organic revenue grew 3.7 percent, for the period.'For the year we met or exceeded each of the financial objectives we set out at the beginning of the year. Frito-Lay North America and each of our international sectors performed very well, and our North America Beverages sector made progress throughout the year,' said CEO Ramon Laguarta. For 2019, PepsiCo expects 4% organic revenue growth and approximately 1% decline in core constant currency EPS. The company expects to return to high-single-digit core constant currency EPS growth in 2020. PepsiCo said it expects long-term financial performance of: 4 to 6 percent organic revenue growth; and high-single-digit core constant currency EPS growth. The company expects to generate productivity savings of at least $1 billion annually through 2023. In connection with the restructuring actions, the company expects to incur pre-tax charges of approximately $2.5 billion through 2023. Also, PepsiCo announced a 3 percent increase in its annualized dividend per share to $3.82 from $3.71 per share, effective with the dividend expected to be paid in June 2019.Copyright RTT News/dpa-AFX
15.02.2019

WABCO Holdings Q4 Adj. Profit Beats View, But Revenues Miss

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - WABCO Holdings Inc. (WBC), a global supplier of braking control systems and other technologies, reported a decline in profit for the fourth quarter from last year on lower sales. However, performance earnings per share beat analysts' expectations, while revenues missed their estimates. The company also forecast fiscal 2019 earnings below the Street estimates.The company's net income for the fourth quarter declined to $114.5 million or $2.20 per share from $168.3 million or $3.12 per share in the year-ago period. Performance earnings for the quarter were $2.13 per share, compared to $2.00 per share a year ago.Sales for the quarter declined 2.4 percent to $911.6 million from $934.1 million in the year-ago period. However, sales rose 1.4 percent in local currencies.On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.98 per share for the quarter on revenues of $965.25 million. Analysts' estimates typically exclude special items. Looking ahead to fiscal 2019, WABCO forecast sales growth in a range of 1.5 percent to 6.5 percent in local currencies, reported earnings in a range of $6.88 to $7.38 per share and performance earnings in a range of $7.60 to $8.10 per share.The Street expects earnings of $8.13 per share for the year on revenues of $4.03 billion. As part of its change in organizational logic, WABCO said it has decided to relocate its corporate headquarters to Bern, Switzerland, with the objective of creating a singular focus on fully globalizing the company's advanced technology strategy. The current Brussels base will become the headquarters of its newly formed division covering Europe, Middle East and Africa.Copyright RTT News/dpa-AFX
15.02.2019

WABCO Holdings Inc. Profit Advances In Q4

WASHINGTON (dpa-AFX) - WABCO Holdings Inc. (WBC) announced earnings for its fourth quarter that advanced from last year.The company's earnings came in at $110.6 million, or $2.13 per share. This compares with $107.7 million, or $2.00 per share, in last year's fourth quarter.Analysts had expected the company to earn $1.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter fell 2.4% to $911.6 million from $934.1 million last year.WABCO Holdings Inc. earnings at a glance:-Earnings (Q4): $110.6 Mln. vs. $107.7 Mln. last year.-EPS (Q4): $2.13 vs. $2.00 last year.-Analysts Estimate: $1.98-Revenue (Q4): $911.6 Mln vs. $934.1 Mln last year.Copyright RTT News/dpa-AFX
15.02.2019

Newell Brands, Inc. Q4 adjusted earnings Beat Estimates

WASHINGTON (dpa-AFX) - Newell Brands, Inc. (NWL) reported a profit for fourth quarter that dropped from the same period last year.The company's profit came in at $0.21 billion, or $0.46 per share. This compares with $1.65 billion, or $3.38 per share, in last year's fourth quarter.Excluding items, Newell Brands, Inc. reported adjusted earnings of $321.1 million or $0.71 per share for the period. Analysts had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter fell 6.0% to $2.34 billion from $2.49 billion last year.Newell Brands, Inc. earnings at a glance:-Earnings (Q4): $321.1 Mln. vs. $334.8 Mln. last year.-EPS (Q4): $0.71 vs. $0.68 last year.-Analysts Estimate: $0.67 -Revenue (Q4): $2.34 Bln vs. $2.49 Bln last year. -Guidance:Next quarter EPS guidance: $0.04 to $0.08Next quarter revenue guidance: $1.66 to $1.70 BlnCopyright RTT News/dpa-AFX
15.02.2019

Swiss Stocks End Higher

BRUSSELS (dpa-AFX) - The Switzerland stock market ended on a firm note on Friday, reflecting the positive sentiment that prevailed across Europe amid optimism about U.S.-China trade negotiations.After the two-day high level talks between the officials of U.S. and China in Beijing ended today, Chinese President Xi Jinping said talks between the two nations will continue in Washington next week. The Switzerland's benchmark SMI ended up 99.41 points, or 1.09%, at 9,242.12, slightly off the day's high of 9,245.17.On Thursday, the index ended down 21.35 points, or 0.23%, at 9,142.71, failing to hold early gains.Among the prominent gainers in the SMI index, Julius Baer surged up 3.15%. Lonza Group gained 2.3%. UBS ended nearly 2% up, while Adecco Group and ABB both ended higher by about 1.7%.Roche, Novartis, Nestle, Zurich Insurance, Credit Suisse, Richemont and Swiss RE gained 0.7 to 1.3% on strong volumes.In the SMMI index, which gained about 0.33% today, Partners Group Holding ended up 1.5%, Clariant advanced 1.47% and Dufry ended 1.35% up. EMS-Chemie Holding and Logitech International also ended notably higher.Shares of logistics company Panalpina ended more than 4.7% up after the company confirmed that it was in preliminary stage talks with Kuwait-based Agility Group on potential strategic opportunities.Most of the markets in Europe ended with strong gains today on hopes the U.S. and China will arrive at a trade agreement sometime soon, after reports indicated another round of talks between the two nations in Washington next week.Copyright RTT News/dpa-AFX
15.02.2019

European Markets End Notably Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended higher on Friday amid optimism about U.S.-China trade deal after the Chinese President Xi Jinping said talks will continue next week in Washington.Some upbeat corporate earnings reports and comments from European Central Bank about a likely fresh round of long-term loans to banks aided sentiment.The pan European Stoxx 600 ended up 1.41%. Among major markets in Europe, Germany and France ended sharply higher, with their benchmarks DAX and CAC 40 gaining 1.89% and 1.79%, respectively. U.K.'s FTSE 100 ended up 0.55%, while Switzerland's SMI gained 1.09%.Among other markets in Europe, Austria, Belgium, Italy, Netherlands, Portugal, Russia, Spain and Sweden closed stronger by 1 to 2.3%. Czech Republic, Denmark, Finland, Iceland, Poland and Turkey ended higher by 0.3 to 0.75%, while Greece edged up marginally.Shares of German company Scout 24 soared about 11% on reports Hellman & Friedman and Blackstone offered to buy the group for 5.7 billion euros.Covestro, Deutsche Bank and Bayer gained 4 to 5%. Continental, Lufthansa, Allianz, HeidelbergCement, Deutsche Post, BASF, Daimler, BMW, Siemens, Adidas, Linde and Fresenius ended higher by 1 to 3.7%.In the French market, Vivendi jumped 5.6%, Valeo gained 4.7% and BNP Paribas moved up 4.2%. Credit Agricole, Renault, Airbus Group, Technip, Saint Gobain, ArcelorMittal and Societe Generale ended stronger by 3 to 4%.In the U.K. market, Coca Cola HBC surged up 4%. Tesco, RBS, Rolls-Royce Holdings, Johnson Matthey, Glencore, Old Mutual, IAG and Lloyds Banking also rose sharply.In economic news, Eurozone's merchandise trade surplus for December came in below economists' expectations, as exports decreased, while imports were unchanged. According to figures from the Statistical Office Eurostat, the seasonally adjusted trade surplus fell to EUR 15.6 billion from EUR 15.8 billion in November. Economists had expected a surplus of EUR 16.3 billion. Spain's consumer price inflation eased for the third consecutive month in January to its lowest level in twelve months, led by fall in prices of recreation and culture and transport, preliminary data from the statistical office INE showed on Friday.Preliminary data from the Office of National Statistics showed UK retail sales rebounded strongly in January, rising 1% from a month earlier. Spain's consumer price inflation eased for the third consecutive month in January to its lowest level in twelve months, preliminary data from the statistical office INE showed. The consumer price index rose 1% year-on-year in January.On U.S.-China trade front, a statement from the White House said high level U.S.-China trade talks this week led to 'progress between the two parties' but noted 'much work remains.'The Whitehouse said the U.S. hopes to see additional progress as discussions at the ministerial and vice-ministerial levels continue in Washington next week.Copyright RTT News/dpa-AFX
15.02.2019

Wall Street Poised To Open Positive

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial trends on U.S. Futures Index suggest that Wall Street might open positive on Friday. Asian shares finished broadly lower, while European shares are trading higher. The investors are keenly waiting for the Industrial Production report and Import and Export prices for January. On the earnings front, Applies Materials , CBS Corp. and Nvidia are among the companies releasing their quarterly results after the close of today's trading.As of 7.40 am ET, the Dow futures were gaining 72.00 points, the S&P 500 futures were adding 7.00 points and the Nasdaq 100 futures were up 20.00 points.U.S. stocks finished broadly lower on Thursday. The tech-heavy Nasdaq ended the day up 6.58 points or 0.1 percent to 7,426.95, while the Dow dropped 103.88 points 0.4 percent to 25,439.39 and the S&P 500 fell 7.30 points or 0.3 percent to 2,745.73.On the economic front, Fed's Empire State Manufacturing Survey for February will be issued at 8.30 am ET. The consensus is for 7.6, versus 3.9 in the prior month. The Labor Department's Import and Export Prices for January will be published at 8.30 am ET. The consensus is for 0.0 percent, while it recorded a decline of 1.0 percent in the prior month. Industrial Production report for January will be revealed at 9.15 am ET. The consensus is for an increase of 0.1 percent, while it grew 0.3 percent in the prior month. Atlanta Federal Reserve Bank President Raphael Bostic will deliver a speech to the Public Affairs Research Council of Alabama on 'Workforce Development' in Birmingham, Alabama, followed by audience Q&A at 9.55 am ET.Consumer Sentiment for February will be issued at 10.00 am ET. The consensus is for 93.00, up from 91.2 in January. Baker-Hughes Rig Count for the week will be released at 1.00 pm ET. North American Rig Count was 1289 and U.S. Rig Count was 1049. In the corporate sector, PepsiCo, Inc. reported fourth-quarter core earnings per share of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year. Fourth-quarter income before income taxes were $1.94 billion, down 17% from previous year. Net income to PepsiCo was $6.85 billion compared to a loss of $710 million, last year. Reported EPS was $4.83, an increase from the $0.50 loss per share in the fourth quarter of 2017. For the fourth-quarter, reported net revenue was even with the prior year at $19.52 billion. Organic revenue grew 4.6 percent, for the quarter. Analysts expected revenue of $19.53 billion for the quarter. Asian stocks closed mostly lower. China's Shanghai Composite Index tumbled 37.31 points or 1.4 percent to 2,682.38. Hong Kong's Hang Seng Index plunged 531.21 points or 1.9 percent to 27,900.84.Japanese shares fell sharply. The benchmark Nikkei 225 Index slumped 239.08 points or 1.1 percent to 20,900.63, and the broader Topix closed 0.8 percent lower at 1,577.29.Australian markets edged up slightly. The benchmark S&P/ASX 200 Index inched up 6.70 points or 0.1 percent to 6,066.10, while the broader All Ordinaries Index rose 9.00 points or 0.2 percent at 6,148.60.European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is climbing 61.26 points or 1.21 percent, the German DAX is gaining 103.04 points or 0.95 percent, the U.K. FTSE 100 Index is progressing 25.87 points or 0.36 percent. The Swiss Market Index is adding 56.34 points or 0.62 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.94 percent.Copyright RTT News/dpa-AFX
15.02.2019

European Shares Rise As US-China Talks End

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were moving higher on Friday, even as two days of U.S.-Chinese trade talks ended with no immediate word of progress and Spain entered a new period of political uncertainty. Spanish Prime Minister Pedro Sánchez has called for a snap general election in April, two days after his minority Socialist government suffered a major defeat in Parliament.The pan European Stoxx 600 index was up 0.3 percent at 364.71 in opening deals after declining 0.3 percent the previous day.The German DAX was marginally higher while France's CAC 40 index was up 0.7 percent and the U.K.'s FTSE 100 was up 0.2 percent. Telecom Italia jumped more than 6 percent after the board of Italian state lender approved the purchase of additional shares in the company. Royal Bank of Scotland Group advanced 1.4 percent as it reported a sharp rise in 2018 profit and announced a special dividend.Premier Foods slumped 4.5 percent after it issued an update regarding the potential disposal of Ambrosia brand.Automakers were broadly lower after industry data showed that European car sales fell by 4.6 percent in January from the same month last year.Internet portal Scout24 soared 12 percent in Frankfurt after Hellman 7 Friedman and Blackstone made a 5.7 billion euro offer for the online classifieds group.French media giant Vivendi jumped 7.6 percent after posting strong results for its Universal Music Grouparm.Utility EDF declined 4.2 percent after issuing a cautious outlook for 2019.The British pound recovered from its early lows against its major counterparts after data showed U.K. retail sales rebounded strongly in January, after their biggest fall in December in a year-and-a-half.Sales volumes rose 1.0 percent in the month while on an annual basis, retail sales jumped 4.2 percent to post the biggest annual rise since December 2016.Copyright RTT News/dpa-AFX
15.02.2019

FTSE 100 Stages Recovery After Early Slide

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were barely moved on Friday, as investors awaited the outcome of high-level Sino-American trade talks and fretted about prolonged Brexit uncertainty.The benchmark FTSE 100 was up 10 points or 0.14 percent at 7,206, reversing early declines. The British pound recovered from its early lows against its major counterparts after data showed retail sales rebounded strongly in January, after their biggest fall in December in a year-and-a-half.Sales volumes rose 1.0 percent in the month while on an annual basis, retail sales jumped 4.2 percent to post the biggest annual rise since December 2016.Royal Bank of Scotland Group advanced 1.4 percent as it reported a sharp rise in 2018 profit and announced a special dividend. SEGRO, the U.K.'s largest listed property company by market capitalization, was marginally higher on fund raising reports. Premier Foods slumped 4.5 percent after it issued an update regarding the potential disposal of Ambrosia brand.Copyright RTT News/dpa-AFX
15.02.2019

CAC 40 Modestly Higher In Early Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were modestly higher on Friday despite mixed earnings results and fresh political uncertainty in Spain, with Prime Minister Pedro Sanchez expected to call a snap general election later in the day following a cabinet meeting.The benchmark CAC 40 was up 24 points or 0.47 percent at 5,086 in opening deals after closing 0.2 percent lower the previous day. Media giant Vivendi jumped 6 percent after posting strong results for its Universal Music Grouparm.Utility EDF declined 2.8 percent after issuing a cautious outlook for 2019.Satellite operator Eutelstat slumped 7 percent on reporting a fall in first-half net revenue.Renault dropped half a percent and Peugeot fell as much as 2.5 percent after industry data showed that European car sales fell by 4.6 percent in January from the same month last year.Copyright RTT News/dpa-AFX
15.02.2019

DAX Dips Amid Spain's Woes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks fell on Friday as weak U.S. and Chinese data added to investor concerns over slowing global growth and Spain braced for its third election in four years. Spanish Prime Minister Pedro Sanchez is expected to call a snap general election later today following a cabinet meeting. Investors also await the outcome of high-level U.S.-China talks in Beijing for direction. The benchmark DAX was down 33 points or 0.29 percent at 11,057 in opening deals after declining 0.7 percent in the previous session. Automakers declined after industry data showed that European car sales fell by 4.6 percent in January from the same month last year.BMW, Daimler and Volkswagen all dropped over 1 percent. Lender Commerzbank slid half a percent and rival Deutsche Bank was little changed after U.S. yields fell on the back of weak retail sales data released overnight. Internet portal Scout24 soared 12 percent after Hellman 7 Friedman and Blackstone made a 5.7 billion euro offer for the online classifieds group.Insurer Allianz edged up slightly after reporting earnings results in line with expectations.Copyright RTT News/dpa-AFX
15.02.2019

Asian Shares Tumble After Weak US, China Data

CANBERA (dpa-AFX) - Asian stocks succumbed to selling pressure on Friday as weak data from the U.S. and China rekindled investor worries about a slowdown in the global economy. U.S. President Donald Trump's insistence that border security justifies a state of emergency and skepticism over the latest round of U.S.-China trade talks also kept investors nervous. China's Shanghai Composite index fell 37.31 points or 1.37 percent to 2,682.38 as weak inflation raised deflation concerns. Hong Kong's Hang Seng index dropped 1.87 percent to 27,900.84.Consumer prices in China were up 1.7 percent year on year in January, the National Bureau of Statistics said. That was shy of expectations for an increase of 1.9 percent, which would have been unchanged from the December reading.Factory inflation slowed for the seventh straight month on cooling demand. Producer prices were up 0.1 percent on year, shy of expectations for an increase of 0.5 percent and down from 0.9 percent in the previous month.Japanese shares fell sharply as a firm yen pulled down exporters and falling U.S. yields on the back of weak U.S. data weighed on the financial sector. The benchmark Nikkei lost 239.08 points or 1.13 percent to 20,900.63, while the broader Topix index closed 0.79 percent lower at 1,577.29.Automakers Honda Motor and Mazda Motor fell around 2 percent while Japan Display declined 2.7 percent after the company said it expects to post its fifth straight year of losses.In the financial sector, T&D Holdings and Dai-ichi Life Holdings plummeted 4-5 percent. Australian markets edged up slightly, with energy stocks leading the surge. The benchmark S&P/ASX 200 index inched up 6.70 points or 0.11 percent to 6,066.10 while the broader All Ordinaries index ended up 9 points or 0.15 percent at 6,148.60.Energy stocks Woodside Petroleum, Santos, Origin Energy, Oil Search and Beach Energy climbed 1-2 percent as Brent crude futures hit fresh 2019 highs. Lynas Corp soared 11.9 percent after the minerals miner provided an update to the exchange on its NUF residue produced at the Lynas Malaysia plan.Scandal-hit wealth manager AMP lost 3.1 percent after issuing a weak outlook. Whitehaven Coal slumped 6.7 percent after cutting its full-year production guidance. Property classifieds business Domain Holdings Australia jumped 21 percent after posting strong first-half revenue. Medibank Private rallied 2.9 percent after the health insurer said it would consider acquiring a private health insurance business in a stressed operating environment. Automotive Holdings Group plunged 8.2 percent after the company said it would record a combined impairment of A$226 million against its struggling franchised and refrigerated logistics businesses in its first-half year results.Seoul stocks tumbled as weak U.S. retail sales data and tepid inflation figures from China rekindled global growth worries. On the domestic front, South Korea posted a current account surplus of $4.82 billion in December, the Bank of Korea said - down from $5.22 billion in November.The benchmark Kospi dropped 29.76 points or 1.34 percent to 2,196.09, marking the steepest single-day loss since Jan. 2. Tech heavyweight Samsung Electronics fell over 3 percent and chipmaker SK Hynix tumbled 4.7 percent.New Zealand shares fell, with the benchmark S&P/NZX 50 index ending down 39.27 points or 0.42 percent at 9,245.65 after a survey showed the country's manufacturing sector expanded at a slower pace in January. U.S. stocks ended mostly lower overnight after the release of weak retail sales and producer price inflation data.The Dow Jones Industrial Average dropped 0.4 percent and the S&P 500 slid 0.3 percent while the tech-heavy Nasdaq Composite edged up 0.1 percent.Copyright RTT News/dpa-AFX
15.02.2019

European Shares Set For Tepid Start

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may drift lower on Friday to extend declines from the previous session as investors await the outcome of a meeting later today between the Trump administration's top two negotiators and Chinese President Xi Jinping in Beijing.Underlying sentiment may remain cautious after U.S. President Trump said he would declare a national emergency to try to obtain funds for building his long-promised wall along the border.Asian markets slipped into red on growth concerns after a report on U.S. retail sales showed the worst monthly decline since September.Gold traded in a tight range while the dollar weakened as weak retail sales and producer price inflation data reinforced expectations that the Fed will avoid rising rates this year. Oil extended recent gains, with Brent crude futures hitting fresh 2019 highs amid supply cuts led by OPEC and U.S. sanctions against Venezuela. The British pound hovered near one-month low after Prime Minister Theresa May lost a symbolic Brexit vote in parliament.U.S. stocks ended mostly lower overnight, led by declines in consumer and bank shares. The Dow Jones Industrial Average dropped 0.4 percent and the S&P 500 slid 0.3 percent while the tech-heavy Nasdaq Composite edged up 0.1 percent. European markets fell on Thursday as investors monitored fresh developments on the U.S.-China trade talks and Brexit. The pan European Stoxx 600 declined 0.3 percent. The German DAX shed 0.7 percent and France's CAC 40 index eased 0.2 percent while the U.K.'s FTSE 100 inched up 0.1 percent.Copyright RTT News/dpa-AFX
15.02.2019

Asian Markets Mostly Lower

CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Friday as weak U.S. retail sales data raised worries about a slowdown in the world's largest economy. Retail sales in the U.S. unexpectedly showed a significant decrease in the month of December, according to government shutdown-delayed data released by the Commerce Department on Thursday.Investors are also cautious following news that U.S. President Donald Trump plans to declare a national emergency to try to obtain more funds for the U.S.-Mexico border wall.The Australian market is modestly higher following the mixed cues from Wall Street and as investors digested mixed corporate earnings results.The benchmark S&P/ASX 200 Index is adding 10.10 points or 0.17 percent to 6,069.50, after rising to a high of 6,071.70 earlier. The broader All Ordinaries Index is up 12.80 points or 0.21 percent to 6,152.40. Australian stocks gave up early gains to end marginally lower on Thursday.In the oil sector, Woodside Petroleum is advancing more than 1 percent, Santos is higher by 0.7 percent and Oil Search is adding 0.5 percent after crude oil prices rose overnight.The big four banks are mixed. ANZ Banking is adding almost 1 percent and Commonwealth Bank is edging up 0.1 percent, while National Australia Bank and Westpac are down 0.1 percent each. Gold miners are also mixed after gold prices edged lower overnight. Evolution Mining is rising more than 2 percent, while Newcrest Mining is down 0.2 percent.The major miners are weak. BHP Group is down 0.4 percent, Rio Tinto is lower by 0.3 percent and Fortescue Metals is declining 0.5 percent.Whitehaven Coal reported a 19 percent increase in first-half profit, reflecting robust prices for higher grade thermal coal. However, the company's shares are losing 11 percent.Medibank Private Ltd. reported a 15 percent decline in first-half profit, while its pre-tax profit was flat. The company also said it will consider acquiring a private health insurance business in a stressed operating environment. Shares of the health insurer are rising more than 5 percent.Automotive Holdings Group said it will record a combined impairment of A$226 million against its struggling franchised and refrigerated logistics businesses in its first-half year results due to poor retail conditions and banking industry disruption. The vehicle group's shares are falling more than 8 percent.Domain Holdings slipped to a first-half loss and declared an impairment of A$179 million due to a fall in listings on Sydney and Melbourne's stumbling property markets. However, the real estate classifieds business's shares are gaining almost 17 percent. In the currency market, the Australian dollar is lower against the U.S. dollar on Friday. The local currency was quoted at $0.7103, down from $0.7121 on Thursday.The Japanese market is declining following the mixed cues from Wall Street on weak U.S. retail sales data and as a stronger yen weighed on exporters' shares.The benchmark Nikkei 225 Index is losing 192.55 points or 0.91 percent to 20,947.16, after touching a low of 20,853.33 earlier. Japanese shares ended roughly flat on Thursday.The major exporters are lower on a stronger yen. Canon is down 0.3 percent, Sony is down 0.4 percent, Mitsubishi Electric is declining almost 1 percent and Panasonic is losing more than 1 percent.In the tech sector, Advantest is rising 1 percent, while Tokyo Electron is down 0.6 percent. Among the major automakers, Toyota is edging down 0.1 percent and Honda is lower by almost 2 percent. In the banking space, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are declining more than 1 percent each.In the oil space, Inpex is adding 0.4 percent and Japan Petroleum is higher by more than 1 percent.Among the other major gainers, Showa Shell Sekiyu is rising more than 3 percent, DIC Corp. and Amada Holdings are higher by more than 2 percent each.On the flip side, Trend Micro is losing more than 9 percent, Kubota Corp. is declining more than 8 percent and Kirin Holdings is lower by more than 7 percent following weak earnings results for the full year.Shares of Coca-Cola Bottlers Japan are losing almost 10 percent after the company said Thursday it will seek about 700 employees for voluntary retirement and also projected a 29 percent decline in fiscal 2019 net profit.On the economic front, Japan will provide final December figures for industrial production today.In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.Elsewhere in Asia, South Korea and Hong Kong are declining more than 1 percent each, while Shanghai, Singapore, New Zealand, Indonesia and Taiwan are also lower. Malaysia is modestly higher.On Wall Street, stocks closed mixed on Thursday after showing initial weakness as a report from the Commerce Department unexpectedly showed a substantial decrease in retail sales in December, increasing the appeal of safe havens like bonds. Selling pressure waned over the course of the morning, as traders continued to express optimism about U.S.-China trade talks and avoiding another government shutdown.The tech-heavy Nasdaq ended the day up 6.58 points or 0.1 percent to 7,426.95, while the Dow dropped 103.88 points 0.4 percent to 25,439.39 and the S&P 500 fell 7.30 points or 0.3 percent to 2,745.73.The major European markets also ended mixed on Thursday. While the U.K.'s FTSE 100 Index inched up by 0.1 percent, the French CAC 40 Index dipped by 0.2 percent and the German DAX Index fell by 0.7 percent.Crude oil prices regained initial lost ground on Thursday and eventually settled on a positive note, amid optimism the ongoing U.S-China trade discussions might result in the two countries moving closer to reaching a trade deal. WTI crude for March rose $0.51 or about 1 percent to close at $54.41 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
15.02.2019
15.02.2019
15.02.2019

U.S. Consumer Sentiment Rebounds More Than Expected In February

WASHINGTON (dpa-AFX) - After reporting a notable deterioration in U.S. consumer sentiment in the previous month, the University of Michigan released preliminary data on Friday showing a bigger than expected rebound in sentiment in the month of February.The report said the consumer sentiment index climbed to 95.5 in February after tumbling to 91.2 in January. Economists had expected the index to rise to 93.0.Surveys of Consumers chief economist Richard Curtin said the rebound in consumer sentiment reflected the end of the partial government shutdown as well as a more fundamental shift in consumer expectations due to the Federal Reserve's pause in raising interest rates.Consumers expressed significantly more optimism about the economic outlook, with the index of consumer expectations jumping to 86.2 in February after plunging to 79.9 in January.The current economic conditions index showed a more modest increase, inching up to 110.0 in February after slumping to 108.8 in January.On the inflation front, one-year inflation expectations dropped to 2.5 percent in February from 2.7 percent in January and five-year inflation expectations slid to 2.3 percent from 2.6 percent.'The data suggest that the Fed will find it even harder to justify another rate hike given the record low inflation expectations,' Curtin said.He added, 'The data will also add to the debate about the evolving relationship between unemployment and inflation as consumers now anticipate lower inflation and higher unemployment.'Copyright RTT News/dpa-AFX
15.02.2019

Dollar Turns Subdued After Trump Declares National Emergency

WASHINGTON (dpa-AFX) - After holding in positive territory during earlier part of the session on Friday, the U.S. dollar retreated and lost ground against some peers after President Donald Trump declared a national emergency on border security.Earlier, Trump signed a bill to avoid another government shutdown.Economic data turned out to be a mixed bag. Import prices contracted in January and industrial production declined in the month. However, there was something to cheer about for investors as data from the University of Michigan showed consumer sentiment to have climbed to a score of 95.5 in February, topping forecasts. The dollar index dropped to a low of 96.83 by mid afternoon, after having risen to a high of 97.37 early on in the session. On the trade talks front, the two-day high level discussions ended in Beijing today with no progress on certain key issues. Chinese President Xi Jinping said after the conclusion of the two-day discussions that talks will resume in Washington next week. The dollar strenthened to 1.1234 against the Euro, gaining significantly from previous close of 1.1298, but retreated later and weakened to 1.1312. Comments from European Central Bank that banks may get some long-term refinancing sent stock prices, especially those from the banking space, soaring in European markets. The greenback exhibited weakness against the Pound Sterling, with the latter rising to $1.2897, up from previous close of $1.2802. Against the Yen, the dollar strengthened to 110.65 yen from previous close of 110.47, but eased to 110.41 subsequently, netting a loss of about 0.05%.Against Swiss currency, the dollar reached a high of CHF 1.0090, but eased to CHF 1.0045 later on in the session, losing about 0.05%. President Donald Trump today declared the situation on the U.S. border with Mexico a national emergency in order to secure additional funding for his divisive border wall.Trump announced the controversial move in a speech from the White House Rose Garden after both the House and Senate approved legislation to avoid another government shutdown.The spending bill provides significant money for border security, including nearly $1.4 billion for physical barriers, but falls well short of the $5.7 billion Trump has demanded for construction of the wall.During his speech, Trump reiterated the justifications for the border wall that he offered throughout his presidential campaign and his two years in the White House.Copyright RTT News/dpa-AFX
15.02.2019

Dollar Firms On U.S.-China Trade Optimism

CANBERA (dpa-AFX) - The U.S. dollar strengthened against its key counterparts in the European session on Friday, as investors awaited next week's talks between the United States and China, following media reports that both sides had reached consensus on certain key areas during the meeting held this week.A statement from the White House said high level U.S.-China trade talks this week led to 'progress between the two parties' but noted 'much work remains.'The U.S. trade secretary Steven Mnuchin tweeted that the meetings in Beijing were 'productive', although he offered no further details.The White House said the U.S. hopes to see additional progress as discussions at the ministerial and vice-ministerial levels continue in Washington next week.Data from the Labor Department showed that U.S. import and export prices both fell by much more than anticipated in the month of January.The report said import prices fell by 0.5 percent in January after tumbling by 1.0 percent in December, while economists had expected import prices to edge down by 0.1 percent.The export prices also slid by 0.6 percent for the second consecutive month in January. Economists had expected export prices to slip by 0.1 percent.The greenback held steady against its major counterparts in the Asian session, excepting the yen.The greenback climbed to 1.1234 against the euro, a level not seen since November 12, 2018. The pair closed Thursday's trading at 1.1294. Next key resistance for the greenback is likely seen around the 1.10 region.Figures from the statistical office Eurostat showed that Eurozone's merchandise trade surplus came in below economists' expectations for December.The seasonally adjusted trade surplus fell to EUR 15.6 billion from EUR 15.8 billion in November. Economists had expected a surplus of EU R16.3 billion.The greenback advanced to 110.65 against the yen, from a 5-day low of 110.26 seen at 10:00 pm ET. On the upside, 113.00 is likely seen as the next resistance level for the greenback. Having declined to 1.0046 against the franc at 5:00 pm ET, the greenback snapped back and reached as high as 1.0089. The greenback is seen finding resistance around the 1.02 level.The greenback bounced off to 1.2789 against the pound, from a low of 1.2832 touched at 6:30 am ET. Further uptrend is likely to take the greenback to a resistance around the 1.26 mark.Data from the Office for National Statistics showed that UK retail sales rebounded strongly at the start of the year, rising at a faster-than-expected pace, led by robust clothing and footwear sales supported by price cuts.The retail sales including auto fuel rose 1 percent from December, when they decreased 0.7 percent. Economists had expected a 0.2 percent gain. On the flip side, the greenback held steady against the kiwi, after having declined to a 10-day low of 0.6859 at 7:15 am ET. At yesterday's close, the pair was valued at 0.6837.The greenback was trading lower at 1.3273 against the loonie and 0.7111 against the aussie, down from its early highs of 1.3313 and 0.7079, respectively. The next possible support for the greenback is seen around 1.30 against the loonie and 0.72 against the aussie.The University of Michigan's preliminary consumer sentiment index for February is scheduled for release at 10:00 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Dollar Rises Further Following U.S. Export And Import Prices

BRUSSELS (dpa-AFX) - The Labor department has released U.S. import and export price indices for January at 8:30 am ET Friday. After the data, the greenback rose further against its major rivals.The greenback was trading at 110.59 against the yen, 1.0087 against the franc, 1.1238 against the euro and 1.2789 against the pound around 8:33 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Dollar Advances Ahead Of U.S. Export And Import Prices

BRUSSELS (dpa-AFX) - The Labor department will release U.S. import and export price indices for January at 8:30 am ET Friday. Ahead of the data, the greenback rose against its major rivals.The greenback was worth 110.55 against the yen, 1.0074 against the franc, 1.1254 against the euro and 1.2796 against the pound as of 8:25 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Pound Spikes Up After Stronger-than-expected U.K. Retail Sales Data

BRUSSELS (dpa-AFX) - The pound strengthened against its major opponents in the European session on Friday, as UK retail sales rebounded strongly at the start of the year, rising at a faster-than-expected pace, led by robust clothing and footwear sales supported by price cuts.Data from the Office for National Statistics showed that retail sales including auto fuel rose 1 percent from December, when they decreased 0.7 percent. Economists had expected a 0.2 percent gain. On a year-on-year basis, retail sales including auto fuel rose 4.2 percent in January, which was the biggest increase since December 2016. Economists had expected sales growth to rise modestly to 3.4 percent from December's 3.1 percent increase. Excluding auto fuel, retail sales climbed 1.2 percent monthly reversing a 1 percent slump in December. Economists had forecast a modest 0.2 percent gain. Compared to a year ago, retail sales excluding auto fuel grew 4.1 percent in January after a 2.9 percent increase in December. That was the fastest increase in six months. Economists had forecast 3.2 percent gain.European stocks were higher amid trade optimism, as the US trade secretary Steven Mnuchin announced that he had held 'productive' trade negotiations with Chinese delegation in Beijing.Investors shrugged off political uncertainty in Spain, where Prime Minister Pedro Sánchez has called for a snap general election in April, two days after his minority Socialist government suffered a major defeat in Parliament.The currency has been trading higher against its major counterparts in the Asian session, barring the yen.The pound appreciated to 141.67 against the yen, from more than a 3-week low of 141.01 seen at 3:30 am ET. Next key resistance for the pound is likely seen around the 143.00 level. After dropping to 1.2855 against the franc at 5:15 pm ET, the pound reversed direction and advanced to 1.2913. The pound is seen finding resistance around the 1.31 mark.Following a decline to 1.2785 at 3:30 am ET, the pound recovered and reached as high as 1.2830 versus the greenback. On the upside, 1.31 is possibly seen as the next resistance level for the pound.The pound edged up to 0.8788 against the euro, following a fall to 0.8828 at 8:00 pm ET. Further uptrend is likely to take the pound to a resistance around the 0.86 level.Figures from the statistical office Eurostat showed that Eurozone's merchandise trade surplus came in below economists' expectations for December.The seasonally adjusted trade surplus fell to EUR 15.6 billion from EUR 15.8 billion in November. Economists had expected a surplus of EUR 16.3 billion. Looking ahead, Canada existing home sales for January, U.S. export and import prices and industrial production for the same month, New York Fed's empire manufacturing survey and University of Michigan's preliminary consumer sentiment index for February are slated for release in the New York session.Copyright RTT News/dpa-AFX
15.02.2019

Euro Lower Amid Spanish Political Uncertainty

BRUSSELS (dpa-AFX) - The euro was lower against its most major counterparts in early European deals on Friday, after Spanish Prime Minister Pedro Sanchez called for a snap national election in April following a budget defeat in Parliament on Wednesday.The snap election is set to take place on April 28.Sanchez's announcement came two days after his minor Socialist government had lost a vote on its budget, when two separatist Catalan parties withdrew their support because of the PM's refusal to discuss the region's right to self-determination.Sanchez's Socialists, which holds just 84 seats in the 350-seat lower house, had been reliant on the support of Basque and Catalan nationalist parties since assuming power in June 2018.Opinion polls project that no single party is likely to get a clear majority.Figures from the statistical office Eurostat showed that Eurozone's merchandise trade surplus came in below economists' expectations for December.The seasonally adjusted trade surplus fell to EUR 15.6 billion from EUR 15.8 billion in November. Economists had expected a surplus of EU R16.3 billion. Exports decreased 0.1 percent month-on-month, while imports were unchanged. The euro dropped to 1.1268 against the greenback, from a high of 1.1297 seen at 7:00 pm ET. The next possible support for the euro is seen around the 1.10 region.The euro depreciated to 0.8792 against the pound from Thursday's closing value of 0.8821. The euro is poised to find support around the 0.86 level.Data from the Office for National Statistics showed that UK retail sales rebounded strongly at the start of the year, rising at a faster-than-expected pace, led by robust clothing and footwear sales supported by price cuts. Retail sales including auto fuel rose 1 percent from December, when they decreased 0.7 percent. Economists had expected a 0.2 percent gain.The single currency weakened to a 4-day low of 124.25 against the yen and held steady thereafter. At yesterday's close, the pair was worth 124.76.After falling to a 3-day low of 1.1338 against the Swiss franc at 2:30 am ET, the euro recovered to 1.1357 in subsequent deals. Next key resistance for the euro is likely seen around the 1.15 level.Looking ahead, Canada existing home sales for January, U.S. export and import prices and industrial production for the same month, New York Fed's empire manufacturing survey and University of Michigan's preliminary consumer sentiment index for February are slated for release in the New York session.Copyright RTT News/dpa-AFX
15.02.2019

Euro Little Changed After Eurozone Trade Data

BRUSSELS (dpa-AFX) - Following the release of Eurozone trade data for December at 5:00 am ET Friday, the euro changed little against its major counterparts.The euro was trading at 124.60 against the yen, 1.1356 against the franc, 1.1285 against the greenback and 0.8810 against the pound around 5:03 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Euro Mixed Ahead Of Eurozone Trade Data

BRUSSELS (dpa-AFX) - Eurostat will release Eurozone trade data for December at 5:00 am ET Friday.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 rivals. The euro was worth 124.55 against the yen, 1.1354 against the franc, 1.2782 against the greenback and 0.8806 against the pound as of 4:55 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Pound Bounces Off Following U.K. Retail Sales

BRUSSELS (dpa-AFX) - The Office for National Statistics has released U.K. retail sales for January at 4:30 am ET Friday.After the data, the pound recovered from its early lows against its major counterparts.The pound was trading at 141.34 against the yen, 1.2898 against the franc, 1.2811 against the greenback and 0.8803 against the euro around 4:33 am ET.Copyright RTT News/dpa-AFX
15.02.2019

Pound Steady Ahead Of U.K. Retail Sales

BRUSSELS (dpa-AFX) - The Office for National Statistics will release U.K. retail sales for January at 4:30 am ET Friday.Ahead of the data, the pound held steady against its major counterparts.The pound was worth 141.23 against the yen, 1.2883 against the franc, 1.2798 against the greenback and 0.8810 against the euro as of 4:25 am ET.Copyright RTT News/dpa-AFX

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