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25.04.2019

Wacker Chemie Slips To Loss In Q1; Affirms FY19 Outlook

MUNICH (dpa-AFX) - Wacker Chemie AG (WKCMY.PK, WKCMF.PK) reported that its net loss for the first quarter was 5.5 million euros, compared to net income of 79.1 million euros in the previous-year quarter. Loss per share for the quarter was 0.16 euros, compared to earnings of 1.52 euros in previous year.The Munich-based chemical company noted that earnings declined significantly amid a challenging market environment for solar-grade polysilicon and substantially higher energy prices.Earnings before interest, taxes, depreciation and amortization or EBITDA for the quarter were 142.0 million euros, down 44.2 percent from 254.5 million euros in the prior-year quarter. In addition to the substantial drop in average solar-grade polysilicon prices, earnings were slowed by higher energy prices and by a temporary outage at a silicone-rubber plant, the company noted.However, quarterly sales rose 1.5 percent to 1.24 billion euros from 1.22 billion euros last year. The sales growth was fueled mainly by generally higher volumes and by somewhat improved prices for chemical products.Looking ahead, Wacker Chemie affirmed its outlook for fiscal 2019. The company continues to expect that Group sales for 2019 will grow by a mid-single-digit percentage relative to last year, while EBITDA is likely to decline by 10 percent to 20 percent compared to last year.Copyright RTT News/dpa-AFX
25.04.2019

Daiichi Sankyo FY18 Profit Rises

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Daiichi Sankyo Co. Ltd. (DSKYF.PK) reported that its fiscal 2018 profit attributable to owners of the company increased to 93.4 billion yen from 60.3 billion yen, prior year. Fiscal 2018 revenue was 929.7 billion yen compared to 960.2 billion yen, previous year. For fiscal 2019, the company projects: profit attributable to owners of the company of 72.0 billion yen; and revenue 940.0 billion yen. Daiichi Sankyo also announced it has sold Nihonbashi Building, Tokyo, Japan. A profit of approximately 10.6 billion yen (before tax) will be recorded for the first quarter.Copyright RTT News/dpa-AFX
25.04.2019

Nokia Q1 Loss Widens, Net Sales Up; Backs FY19, FY20 Forecast

ESPOO (dpa-AFX) - Nokia Corp. (NOK) reported Thursday that its first-quarter net loss widened to 442 million euros from last year's loss of 354 million euros. Loss per share were 0.08 euro, compared to loss of 0.06 euro a year ago.Adjusted loss for the period was 116 million euros or 0.02 euro per share, compared to last year's profit of 83 million euros or 0.02 euro per share. Operating loss was 524 million euros, wider than the previous year. Reported net sales in the first quarter were 5.03 billion euros, 2 percent higher than last year's 4.92 billion euros. Adjusted net sales were 5.1 billion euros. On a constant currency basis, reported net sales decreased 2% and non-IFRS net sales decreased 1%.Further, the company maintained its full year guidance for 2019 and 2020. The company still projects 2019 non-IFRS earnings per share in a range of 0.25 euros to 0.29 euros and 2020 non-IFRS earnings per share in the range of 0.37 euros to 0.42 euros.Non-IFRS operating margin is expected to be 9 percent to 12 percent for 2019 and 12 percent to 16 percent for 2020.Rajeev Suri, President And CEO, said, 'Q1 was a weak quarter for Nokia. We expected that it would be, and the outcome has not changed our perspective on the full year. We are confident that those issues that drove weakness in our results will ease over the remainder of the year. While overall risks have increased slightly, we continue to see positive developments and are maintaining our guidance for the full year.'The company also said it is progressing well with earlier announced 700 million euros cost savings program.Copyright RTT News/dpa-AFX
25.04.2019

UBS Q1 Profit Down

ZURICH (dpa-AFX) - UBS (UBS) reported that its net profit attributable to shareholders for the first-quarter was $1.14 billion, down 27% from last year.Reported profit before tax declined 26% year over year to $1.55 billion and adjusted profit before tax decreased 21% to $1.58 billion from the previous year. Net interest income for the quarter was $1.12 billion, down from $1.44 billion in the prior year. Net fee and commission income also decreased to $4.13 billion from $4.74 billion in the prior year.The company said that the overall pace of growth decreased as a result of a synchronized global slowdown. Economic growth and markets are expected to continue to recover and stabilize at different speeds across regions and asset classes.Copyright RTT News/dpa-AFX
25.04.2019

Kuehne + Nagel Q1 Profit Down 1.6%, Turnover Rises

WASHINGTON (dpa-AFX) - Swiss logistics firm Kuehne + Nagel Group (KHNGY) reported Thursday that its first-quarter earnings declined 1.6 percent to 181 million Swiss francs from last year's 184 million francs.However, operational result or EBITDA, a key earnings metric, grew 44.6 percent to 418 million francs from 289 million francs a year ago.Net turnover for the quarter grew 7.7 percent to 5.24 billion francs from 4.86 billion francs last year.The company said it increased net turnover, gross profit and EBIT in the quarter. Due to the implementation of IFRS 16-Leases, EBITDA of the Group increased by 118 million francs and EBIT by 3 million francs in the quarter.In seafreight, EBIT expanded significantly and in overland operating results increased substantially, while the market-related volume decline in airfreight was largely offset by active cost management. The result of contract logistics decreased due to ongoing restructuring and review of the project portfolio. Looking ahead to fiscal 2019, the company said it plans to remain on course to grow as a Group and further increase its results.Copyright RTT News/dpa-AFX
25.04.2019

Dialog Semiconductor Lifts Q1 Profit Outlook

KIRCHHEIM (dpa-AFX) - Dialog Semiconductor Plc (DLGS), Wednesday said it expects higher than anticipated profitability in first quarter.On 6 March 2019, Dialog indicated that it expected gross margin for first quarter to be broadly in line with full year 2018. The company now expects first-quarter gross margin of about 49.3%.Additionally, the company also expects first-quarter operating profit of approximately $25 million and underlying1 operating profit of around $47 million. Both measures include other operating income of approximately US$4 million, comprising income from specific non-recurring engineering contracts.In the first quarter, the company expects revenue of around $295 million. At 29 March 2019, the company had US$690 million of cash and cash equivalents.Copyright RTT News/dpa-AFX
25.04.2019

Tesla Q1 Results Miss Wall Street View

WASHINGTON (dpa-AFX) - Luxury electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a first-quarter loss that was wider than analysts estimates, as revenues also missed expectations.Palo Alto, California-based Tesla reported first-quarter loss of $702.1 million or $4.10 per share, compared to last year's loss of $709.6 million or $4.19 per share.Excluding items, adjusted loss for the quarter were $2.90 per share, compared to adjusted loss of $3.35 per share last year. On average, 23 analysts polled by Thomson Reuters expected loss of $0.69 per share for the quarter.Tesla's revenues for the quarter surged to $4.54 billion from $3.41 billion last year. Analysts had a consensus revenue estimate of $5.33 billion.Model 3 was the best-selling premium car in the US in first quarter, outselling the runner-up by almost 60%.In the first quarter, Tesla said it delivered 50,928 Model 3s to customers. The company produced roughly 63,000 Model 3 vehicles in first quarter, which was approximately 3% more than the previous quarter. This improvement in production rate was modest mainly due to changes to the production process for the introduction of new variants of Model 3, fewer working days and a supplier limitation. Looking ahead, Tesla reaffirmed its guidance of 360,000 to 400,000 vehicle deliveries in 2019, representing an increase of around 45% to 65%. For the second quarter, Tesla expects delivery of 90,000 and 100,000 vehicles.TSLA closed Wednesday's trading at $258.66, down $5.24 or 1.99%, on the Nasdaq. The stock, however, further gained $4.34 or 1.68% in the after-hours trading.Copyright RTT News/dpa-AFX
24.04.2019

F5 Networks Inc. Q2 adjusted earnings Beat Estimates

WASHINGTON (dpa-AFX) - F5 Networks Inc. (FFIV) released earnings for its second quarter that rose from last year.The company's earnings came in at $116.1M, or $1.93 per share. This compares with $109.6 million, or $1.77 per share, in last year's second quarter.Excluding items, F5 Networks Inc. reported adjusted earnings of $154.4 million or $2.57 per share for the period. Analysts had expected the company to earn $2.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 2.2% to $544.9 million from $533.3M last year.F5 Networks Inc. earnings at a glance:-Earnings (Q2): $154.4 Mln. vs. $143.3M. last year.-EPS (Q2): $2.57 vs. $2.31 last year.-Analysts Estimate: $2.54-Revenue (Q2): $544.9 Mln vs. $533.3M last year. -Guidance:Next quarter EPS guidance: $2.54 - $2.57Next quarter revenue guidance: $550 - $560 MlnCopyright RTT News/dpa-AFX
24.04.2019

Citrix Systems Inc Q1 adjusted earnings Beat Estimates

FORT LAUDERDALE (dpa-AFX) - Citrix Systems Inc (CTXS) revealed earnings for first quarter that decreased from the same period last year.The company's earnings totaled $110.35 million, or $0.78 per share. This compares with $144.26 million, or $0.99 per share, in last year's first quarter.Excluding items, Citrix Systems Inc reported adjusted earnings of $172.07 million or $1.27 per share for the period. Analysts had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 3.1% to $719.14 million from $697.19 million last year.Citrix Systems Inc earnings at a glance:-Earnings (Q1): $172.07 Mln. vs. $183.62 Mln. last year.-EPS (Q1): $1.27 vs. $1.29 last year.-Analysts Estimate: $1.17-Revenue (Q1): $719.14 Mln vs. $697.19 Mln last year. -Guidance:Full year EPS guidance: $6.00Full year revenue guidance: $3.08 - $3.09 BlnCopyright RTT News/dpa-AFX
24.04.2019

Carrefour Q1 Sales Up 2.7% LFL Basis

EVRY (dpa-AFX) - Carrefour (CRERF.PK, CRRFY.PK, 0NPH.L) reported that its first-quarter pre-IAS 29 gross sales totaled 20.02 billion euros, up 0.5% at constant exchange rates. Sales were down 3.0% at current exchange rates. After application of IAS 29, consolidated sales inc. VAT totaled 19.99 billion euros. On a like-for-like basis, sales were up 2.7%.Looking ahead, Carrefour confirmed the financial targets of the Carrefour 2022 plan. In 2019, the Group said it will continue its transformation.The company said the proposed dividend for 2018 of 0.46 euros per share would be payable from July 11, 2019 with a record date of June 21, 2019.Copyright RTT News/dpa-AFX
25.04.2019

Asian Markets Mostly Lower

CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Thursday following the modest losses overnight on Wall Street amid mixed corporate earnings results. Worries about global economic growth also weighed on investor sentiment after Germany's business confidence unexpectedly weakened in April and South Korea's economy unexpectedly shrunk in the first quarter.The Japanese market is modestly higher, recovering after a weak start following the modest losses overnight on Wall Street.Investors remained cautious as they look ahead to the Bank of Japan's monetary policy decision due later in the day. The central bank is widely expected to keep its benchmark lending rate unchanged at -0.1 percent.The benchmark Nikkei 225 Index is adding 36.49 points or 0.16 percent to 22,236.49, after touching a low of 22,155.23 in early trades. Japanese shares ended a choppy session lower on Wednesday.The major exporters are mixed despite a weaker yen. Sony is advancing almost 1 percent and Mitsubishi Electric is adding 0.2 percent, while Panasonic is down 0.2 percent.Canon is losing almost 3 percent after reporting a 45 percent fall in first-quarter profit and lowering its full-year outlook.Among tech stocks, Advantest is rising more than 2 percent and Tokyo Electron is higher by more than 1 percent. SoftBank's shares are rising more than 1 percent after German financial technology firm Wirecard said that the Japanese conglomerate will invest about 900 million euros in the company. Hitachi Ltd. will acquire U.S. assembly robot-maker JR Automation Technologies from private equity group Crestview Partners for $1.43 billion to strengthen its factory automation business in the U.S. market. Hitachi's shares are advancing more than 1 percent.In the auto space, Honda is declining 0.4 percent, while Toyota is adding 0.1 percent. Shares of Nissan Motor are losing almost 2 percent after the automaker slashed its full-year profit forecast.In the banking space, Mitsubishi UFJ Financial is lower by more than 1 percent and Sumitomo Mitsui Financial is declining 0.6 percent.In the oil sector, Japan Petroleum is lower by more than 2 percent and Inpex is losing almost 2 percent after crude oil prices edged lower overnight.Among the other major gainers, Kao Corp. is gaining 5 percent, Cyberagent is higher by almost 5 percent and Hitachi Construction Machinery is rising almost 4 percent.On the flip side, Kansai Electric Power is losing more than 4 percent and Mitsui Mining & Smelting is declining almost 3 percent.In the currency market, the U.S. dollar is trading in the lower 112 yen-range on Thursday.Elsewhere in Asia, Shanghai, South Korea, Singapore, Indonesia, Malaysia and Hong Kong are all lower, while Taiwan is edging higher. The markets in Australia and New Zealand are closed on Thursday for ANZAC Day.On Wall Street, stocks closed modestly lower on Wednesday in choppy trading as traders seemed reluctant to make significant moves amid uncertainty about the near-term outlook for the markets after yesterday's advance lifted the Nasdaq and the S&P 500 to record closing highs. A mixed batch of earnings news from big-name companies such as Boeing, Caterpillar and AT&T also contributed to the choppy trading.The Dow fell 59.34 points or 0.2 percent to 26,597.05 points, the Nasdaq slipped 18.81 points or 0.2 percent to 8,102.01 and the S&P 500 dipped 6.43 points or 0.2 percent to 2,927.25.The major European markets ended mixed on Wednesday. While the German DAX Index advanced by 0.6 percent, the French CAC 40 Index dipped by 0.3 percent and the U.K.'s FTSE 100 Index dropped by 0.7 percent.Crude oil prices edged lower on Wednesday after data from Energy Information Administration showed a bigger than expected weekly increase in crude oil inventories in the U.S. WTI crude oil for June delivery dipped $0.41 or 0.6 percent to close at $65.89 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
25.04.2019

Japanese Market Modestly Higher Ahead Of BOJ Decision

TOKYO (dpa-AFX) - The Japanese stock market is modestly higher on Thursday, recovering after a weak start following the modest losses overnight on Wall Street.Investors remained cautious as they look ahead to the Bank of Japan's monetary policy decision due later in the day. The central bank is widely expected to keep its benchmark lending rate unchanged at -0.1 percent.The benchmark Nikkei 225 Index is adding 36.49 points or 0.16 percent to 22,236.49, after touching a low of 22,155.23 in early trades. Japanese shares ended a choppy session lower on Wednesday.The major exporters are mixed despite a weaker yen. Sony is advancing almost 1 percent and Mitsubishi Electric is adding 0.2 percent, while Panasonic is down 0.2 percent. Canon is losing almost 3 percent after reporting a 45 percent fall in first-quarter profit and lowering its full-year outlook.Among tech stocks, Advantest is rising more than 2 percent and Tokyo Electron is higher by more than 1 percent. SoftBank's shares are rising more than 1 percent after German financial technology firm Wirecard said that the Japanese conglomerate will invest about 900 million euros in the company. Hitachi Ltd. will acquire U.S. assembly robot-maker JR Automation Technologies from private equity group Crestview Partners for $1.43 billion to strengthen its factory automation business in the U.S. market. Hitachi's shares are advancing more than 1 percent.In the auto space, Honda is declining 0.4 percent, while Toyota is adding 0.1 percent. Shares of Nissan Motor are losing almost 2 percent after the automaker slashed its full-year profit forecast.In the banking space, Mitsubishi UFJ Financial is lower by more than 1 percent and Sumitomo Mitsui Financial is declining 0.6 percent. In the oil sector, Japan Petroleum is lower by more than 2 percent and Inpex is losing almost 2 percent after crude oil prices edged lower overnight.Among the other major gainers, Kao Corp. is gaining 5 percent, Cyberagent is higher by almost 5 percent and Hitachi Construction Machinery is rising almost 4 percent.On the flip side, Kansai Electric Power is losing more than 4 percent and Mitsui Mining & Smelting is declining almost 3 percent.In the currency market, the U.S. dollar is trading in the lower 112 yen-range on Thursday.On Wall Street, stocks closed modestly lower on Wednesday in choppy trading as traders seemed reluctant to make significant moves amid uncertainty about the near-term outlook for the markets after yesterday's advance lifted the Nasdaq and the S&P 500 to record closing highs. A mixed batch of earnings news from big-name companies such as Boeing, Caterpillar and AT&T also contributed to the choppy trading.The Dow fell 59.34 points or 0.2 percent to 26,597.05 points, the Nasdaq slipped 18.81 points or 0.2 percent to 8,102.01 and the S&P 500 dipped 6.43 points or 0.2 percent to 2,927.25.The major European markets ended mixed on Wednesday. While the German DAX Index advanced by 0.6 percent, the French CAC 40 Index dipped by 0.3 percent and the U.K.'s FTSE 100 Index dropped by 0.7 percent.Crude oil prices edged lower on Wednesday after data from Energy Information Administration showed a bigger than expected weekly increase in crude oil inventories in the U.S. WTI crude oil for June delivery dipped $0.41 or 0.6 percent to close at $65.89 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
25.04.2019

Soft Start Seen For China Stock Market

BEIJING (dpa-AFX) - The China stock market on Wednesday ended the two-day slide in which it had stumbled more than 70 points or 2.1 percent. The Shanghai Composite Index now rests just above the 3,200-point plateau although it's expected to turn lower again on Thursday.The global forecast for the Asian markets suggests mild consolidation thanks to uninspired earnings news and a drop in crude oil prices. The European markets were mixed and the U.S. bourses were down - and the Asian markets figure to split the difference.The SCI finished slightly higher on Wednesday as gains from the financials were capped by weakness from the oil and insurance companies and a mixed picture from the properties.For the day, the index rose 3.02 points or 0.09 percent to finish at 3,201.61 after trading between 3,156.61 and 3,210.65. The Shenzhen Composite Index spiked 19.02 points or 1.10 percent to end at 1,747.88.Among the actives, Gemdale advanced 1.22 percent, while Poly Developments fell 0.30 percent, China Vanke rose 0.30 percent, CITIC Securities climbed 0.96 percent, Bank of China dropped 1.01 percent, China Construction Bank collected 0.27 percent, China Merchants Bank jumped 1.62 percent, China life Insurance tumbled 1.43 percent, Ping An Insurance skidded 1.20 percent, PetroChina shed 0.65 percent, China Petroleum and Chemical (Sinopec) retreated 1.02 percent and Industrial and Commercial Bank of China was unchanged.The lead from Wall Street is soft as stocks showed a lack of direction Wednesday, bouncing back and forth across the unchanged line before finishing in the red.The Dow shed 59.34 points or 0.22 percent to finish at 26,597.05, while the NASDAQ lost 18.81 points or 0.23 percent to 8,102.01 and the S&P 500 fell 6.43 points or 0.22 percent to 2,927.25.Traders seemed reluctant to make significant moves following a mixed batch of earnings news from big-name companies such as Boeing (BA), Caterpillar (CAT) and AT&T (T).Crude oil prices edged lower on Wednesday after the Energy Information Administration noted a much higher than expected increase in crude stockpiles in the U.S. West Texas Intermediate Crude oil futures for June ended down $0.41 or 0.6 percent at $65.89 a barrel.Copyright RTT News/dpa-AFX
24.04.2019

Swiss Market Ends Higher For 2nd Straight Day On Earnings

BRUSSELS (dpa-AFX) - The Switzerland stock market ended higher on Wednesday, bucking the largely weak trend across Europe, thanks to better than expected results from Novartis and data showing an improvement in Swiss investor sentiment.The benchmark SMI ended up 20.60 points, or 0.21%, at 9,655.67, despite settling well off the day's high of 9,704.53. On Tuesday, the SMI ended up 63.85 points, or 0.67%, at 9,635.07, well off the day's low of 9,542.95.Alcon and Novartis both ended nearly 2.5% up. Novartis has raised its 2019 guidance after its firs quarter earnings and sales beat expectations, driven by strong growth in revenue from the company's heart failure drug Entresto and psoriasis medicin Cosentyx.Credit Suisse reported a net profit of 749 million Swiss franc for the first quarter ended March 2019, thanks to strong gains in wealth management gains. The stock ended marginally up.Adecco and Geberit ended modestly higher. Lonza Group, Zurich Insurance, Sika, LafargeHolcim, Swisscom, Swatch Group and Givaudan ended lower by 0.4 to 1.2%.UBS Group shares ended marginally down. According to reports, the asset management arms of Deutsche Bank AG and UBS Group are in merger talks.Phoenix Mecano shares drifted lower by about 2.7% after the company reported a 26.3% drop in first quarter earnings at 6.9 million euros.In economic news, Swiss investor sentiment increased by 19.2 points to -7.7 in April of 2019 from -26.9 in the previous month. It is the best reading since July last year.The assessment of the current economic situation also rose to 40.7 from 33.3. Zew Economic Sentiment Index in Switzerland averaged -7.25 from 2007 until 2019, reaching an all time high of 65 in October of 2009 and a record low of -91.10 in October of 2008.Among other major markets in Europe, the U.K. and France ended lower with their key indices falling 0.68% and 0.28%, respectively. Germany's DAX ended up by 0.21%. The pan European Stoxx 600 ended down 0.09%.Copyright RTT News/dpa-AFX
24.04.2019

European Markets Close Lower As Investors React To Earnings

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended mostly lower on Wednesday, weighed down by some disappointing earnings reports and lower crude oil prices.Movements were quite sluggish in most of the markets in the region, with investors treading cautiously after recent gains.The pan European Stoxx 600 ended down 0.09%. Among the major markets in Europe, the U.K. and France ended lower with their key indices falling 0.68% and 0.28%, respectively. Switzerland's SMI and Germany's DAX ended up by 0.21% and 0.63%, respectively.Among other markets, Austria, Belgium, Czech Republic, Finland, Greece, Ireland, Italy and Spain closed notably lower.Netherlands, Norway, Portugal and Russia settled modestly lower.Iceland, Sweden, Turkey and Ukraine ended modestly higher, while Denmark and Poland settled flat.Shares of technology firm SAP jumped more than 12% after high profile investor Elliot confirmed taking a $1.3 billion stake in the company. Volvo Group shares moved up sharply after the company's net income for the first-quarter 2019 climbed to 10.62 billion Swedish kronor from last year's 5.65 billion kronor.Credit Suisse Group saw some brisk buying before paring some gains. The Group said it posted an 8% rise in first-quarter net profit, beating forecasts.Wirecard shares spurted more than 8% on reports Softbank Group would buy a stake in the company. Softbank will pay a 5.6% stake in Wirecard for $1 billion.In economic news, Germany's business confidence unexpectedly weakened in April to its lowest level in three years.Survey data from the ifo Institute showed the business climate indicator dropped to 99.2 in April from an upwardly revised 99.7 in March. Economists had expected the index to climb to 99.9 from March's original 99.6.The business situation index fell to 103.3 from an upwardly revised 103.9 in March. Economists had predicted a score of 103.6. The reading was the lowest since March 2017.The expectations measure of the survey decreased to 95.2 from 95.6, while it was expected to climb to 96.'Companies are less satisfied with their current business situation. March's gentle optimism regarding the coming months has evaporated,' ifo Institute President Clemens Fuest said. 'The German economy continues to lose steam,' he added.In April, Germany's leading economics research institutes slashed their forecast for economic growth this year, but re-affirmed that the likelihood of a recession is very small.Copyright RTT News/dpa-AFX
24.04.2019

Wall Street Poised For Cautious Start Amid Mixed Earnings

WASHINGTON (dpa-AFX) - The mood on Wall Street is likely to be a cautious Wednesday morning, with investors weighing reports about China looking to slow down monetary easing and data that showed Germany's business confidence fell to a 3-year low in April. Activity is likely to be stock specific with traders reacting to the latest batch of corporate earnings reports. Caterpillar Inc. (CAT) said its profit totaled $1.88 billion, or $3.25 per share in the first quarter, compared with $1.66 billion, or $2.74 per share in the year-ago quarter.Meanwhile, results of The Boeing Co. (BA) fell short of expectations. Boeing reported earnings of $2.15 billion, or $3.75 per share in the first quarter, as against $2.48 billion, or $4.15 per share in the corresponding quarter last year.After recording solid gains on two successive sessions after the U.S. announced its decision to end waiver on sanction against importers of Iranian oil, crude oil prices eased today after data from the American Petroleum Institute showed a 6.9 million barrels jump in crude oil inventories in the week to April 19. On the trade front, U.S.-China trade talks are scheduled to resume next week in Beijing. According to reports, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are expected to meet Chinese Vice Premier Liu He in Beijing on Tuesday, April 30.Stocks ended mostly higher on Tuesday, reflecting a positive reaction to upbeat earnings news from several big-name companies, including United Technologies (UTX) and Coca-Cola), and data showing an unexpected jump in new home sales in the month of March. The Nasdaq and the S&P 500 ended the session at record closing highs, gaining 1.3% and 0.9%, respectively. The Dow ended up by 0.6%.Asian markets ended mixed on Wednesday, while European stocks were exhibiting weakness after recent gains.Copyright RTT News/dpa-AFX
24.04.2019

European Shares Mixed As Earnings Dominate

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks pulled back from eight-month highs on Wednesday as investors digested weak regional data and fretted that Beijing will slow the pace of policy easing following some signs of stabilization in the world's second-largest economy.The downside, however, remained limited following upbeat earnings updates in the region from the likes of Credit Suisse, Novartis and SAP.The pan European Stoxx 600 was down 0.1 percent at 391.11 after rising in the past eight consecutive sessions.The German DAX was rising 0.6 percent, while France's CAC 40 index was down 0.1 percent and the U.K.'s FTSE 100 was losing 0.3 percent. Stockholm-listed online gambling operator Kindred Group slumped 7.6 percent after Swedish market costs contributed to a 50 percent decline in profit after tax.Akzo Nobel lost 3.2 percent. The Dutch paints and chemicals maker reported that its first-quarter net income attributable to shareholders plunged to 65 million euros from last year's 253 million euros. STMicroelectronics NV climbed 2.6 percent after the company forecast a 2.4 percent sequential net revenue growth in FY19.Swiss banking giant Credit Suisse Group added 2.6 percent on reporting an 8 percent rise in first-quarter net profit, beating forecasts. Novartis gained 2.6 percent after raising its annual profit outlook. Volvo Group advanced 3.8 percent. The multinational manufacturing company headquartered in Gothenburg reported that its net income for the first-quarter 2019 climbed to 10.62 billion Swedish kronor from last year's 5.65 billion kronor.German software company SAP jumped 8.6 percent after raising its operating profit outlook.In economic releases, Germany's business confidence unexpectedly weakened in April to its lowest level in three years, survey data from the ifo Institute showed.The ifo business climate indicator dropped to 99.2 from an upwardly revised 99.7 in March. Economists had expected the index to climb to 99.9 from March's original 99.6. Separately, France's manufacturing confidence deteriorated for the first time in five months in April to its lowest level in over two-and-a-half years, preliminary data from the statistical office INSEE showed.The manufacturing confidence index fell to 101 from a revised 103 in March.Copyright RTT News/dpa-AFX
24.04.2019

FTSE 100 Dips On China Stimulus Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks fell on Wednesday amid concerns that China will reduce its economic stimulus following some signs of stabilization in the world's second-largest economy.Meanwhile, on the data front, U.K. government borrowing was the lowest in 17 years in the financial year ended March 31, and exceeded the official forecast, the Office for National Statistics said.The public borrowing in the latest full financial year from April 2018 to March 2019 was GBP 24.7 billion, which was GBP 17.2 billion less than in the previous year.The benchmark FTSE 100 was down 26 points or 0.34 percent at 7,497 after climbing 0.9 percent in the previous session to hit a six-month high. Centamin jumped more than 9 percent after reporting better-than-expected gold output for the first quarter. Insurer Aviva shed 0.6 percent after announcing a set of management changes. Building materials group CRH edged down slightly. After reporting a positive start to the year, the company said it would expand its share-buyback program by 350 million euros ($393.2 million).Miner Antofagasta declined half a percent. The company backed its guidance after reporting a 23 percent rise in first-quarter copper production.Associated British Foods rallied 2.4 percent. The company backed its FY19 view after reporting a 15 percent fall in first-half profit before tax.Copyright RTT News/dpa-AFX
24.04.2019

CAC 40 Slides On Growth Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were moving lower on Wednesday after a measure of business morale pointed to weakening economic growth in Germany, Europe's largest economy.In addition, France's manufacturing confidence deteriorated for the first time in five months in April to its lowest level in over two-and-a-half years, preliminary data from the statistical office INSEE showed.The manufacturing confidence index fell to 101 from a revised 103 in March. The reading held steady at 103 since December.Investors also fear that Beijing will slow the pace of policy easing following some signs of stabilization in the world's second-largest economy.The benchmark CAC 40 index was down 14 points or 0.24 percent at 5,578 after gaining 0.2 percent on Tuesday.Renault shares tumbled 3.4 percent after its Japanese partner Nissan Motor lowered its profit forecast for the fiscal year through March amid slowing sales and the fallout from the criminal investigation of its former chairman, Carlos Ghosn.Elior Group jumped 4.4 percent. The operator in the catering and support services has received a 1.54 billion euros binding offer for its concession catering operations grouped within its Areas unit from PAI Partners.Rémy Cointreau, a wine and spirits company, was little changed after reporting a rise in FY19 sales and confirming its current operating profit growth outlook.Copyright RTT News/dpa-AFX
24.04.2019

DAX Little Changed After Weak Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks were holding steady on Wednesday despite a measure of German business morale pointing to weakening economic growth in Europe's largest economy. The Ifo economic institute's business climate index dropped to 99.2 in April from an upwardly revised 99.7 in the previous month. The benchmark DAX was down 21 points or 0.17 percent at 12,256 after closing up 0.1 percent the previous day. Automakers BMW, Daimler and Volkswagen fell between 0.3 percent and 0.9 percent after Nissan Motor lowered its profit forecast for the fiscal year through March amid slowing sales and the fallout from the criminal investigation of its former chairman, Carlos Ghosn.Deutz AG rallied 3.8 percent after its preliminary operating profit for the first quarter of 2019 climbed 15.7 percent from last year. Wirecard soared 7 percent after it signed a binding term sheet, under which Japanese conglomerate SoftBank Group Corp. will invest approximately 900 million euros through convertible bonds.Software company SAP also jumped 7 percent after raising its operating profit outlook.Copyright RTT News/dpa-AFX
25.04.2019
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25.04.2019

Dollar Displays Strength Against Rivals

WASHINGTON (dpa-AFX) - The U.S. dollar displayed immense strength on Wednesday after most of its peers shed ground amid concerns about growth. The recent strong new home sales data and reports that showed a bigger than expected jump in retail sales and drop in jobless claims all continued to support the greenback.The dollar index rose to 22-month a high of 98.19 before easing a bit to 98.10, still up over 0.5% on previous close.The Aussie shed more than 1.2%, amid speculation the central bank might cut interest rates later this year. The Aussie was trading at $0.7008, after having traded at $0.7101 on Tuesday.Against the euro, the dollar was up marginally, with weak data out of Germany weighing on the EU currency. Germany's business confidence unexpectedly weakened in April to its lowest level in three years.Survey data from the ifo Institute showed the business climate indicator dropped to 99.2 in April from an upwardly revised 99.7 in March. Economists had expected the index to climb to 99.9 from March's original 99.6.The business situation index fell to 103.3 from an upwardly revised 103.9 in March. Economists had predicted a score of 103.6. The reading was the lowest since March 2017.The expectations measure of the survey decreased to 95.2 from 95.6, while it was expected to climb to 96.Against British Pound Sterling, it moved up by about 0.3% before paring some gains.The Japanese yen fell more than 0.4% with a dollar fetching 112.33 yen. Canada's loonie dropped to a low of 1.3521 against the dollar after the Bank of Canada held its interest rate unchanged and removed the wording suggesting the hint for rate hikes in future from the statement. The bank said economic growth during the first half of 2019 is now estimated to be slower than anticipated in January. It forecast inflation to dip in the third quarter due to the dynamics of gasoline prices, before returning to about 2% by year end.Markets now await data on U.S. durable goods orders for the month of March and weekly jobless claims, due on Thursday, and the crucial fourth quarter GDP data, due on Friday.Copyright RTT News/dpa-AFX
24.04.2019

Canadian Dollar Falls Sharply As BoC Retains Rate; Removes Rate Hike Bias

CANBERA (dpa-AFX) - The Canadian dollar drifted lower against its key counterparts in the New York session on Wednesday, after the Bank of Canada kept its benchmark rate unchanged and eliminated its wording suggesting the hint for rate hikes in future from the statement.The BoC maintained its benchmark rate at 1.75 percent, in line with expectations.The economic growth during the first half of 2019 is now estimated to be slower than anticipated in January, the bank said.Inflation is forecast to dip in the third quarter, due to the dynamics of gasoline prices, before returning to about 2 percent by year end.'Given all these developments, the Governing Council judges that an accommodative policy interest rate continues to be warranted,' the bank noted.This was in contrast with the March statement which suggested 'about the timing of future rate increases.'The currency was trading higher against its major counterparts in the European session.The loonie fell to 82.68 versus the yen, its lowest since March 29. This follows a high of 83.34 touched at 5:00 pm ET. The loonie is seen finding support around the 80.5 level. The loonie that closed yesterday's trading at 1.3421 against the greenback depreciated to a 3-1/2-month low of 1.3521. The next possible support for the loonie is seen around the 1.36 level. The loonie declined to an 8-day low of 1.5129 against the euro, compared to 1.5070 hit late New York Tuesday. If the loonie drops further, 1.525 is possibly seen as its next support level.Survey data from the Ifo Institute showed that Germany's business confidence unexpectedly weakened in April to its lowest level in three years.The Ifo business climate indicator dropped to 99.2 from an upwardly revised 99.7 in March. Economists had expected the index to climb to 99.9 from March's original 99.6.The loonie pulled back to 0.9496 against the aussie, from a 3-week high of 0.9444 hit at 9:45 am ET. Next key support for the loonie is likely seen around the 0.96 level.Copyright RTT News/dpa-AFX
24.04.2019

Loonie Drops After BoC Decision

CANBERA (dpa-AFX) - As expected, the Bank of Canada kept its benchmark rate unchanged at 1.75 percent.The loonie fell against its major counterparts following the decision.The loonie was trading at 82.70 against the yen, 0.9493 against the aussie, 1.5116 against the euro and 1.3506 against the greenback around 10:02 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Loonie Rises Vs Most Majors Ahead Of BoC Decision

CANBERA (dpa-AFX) - The Bank of Canada announces its interest rate decision at 10:00 am ET Wednesday. Economists expect the bank rate to remain on hold at 1.75 percent.Ahead of the decision, the loonie traded mixed against its major counterparts. While the loonie held steady against the yen, it rose against the rest of major counterparts.The loonie was worth 83.20 against the yen, 0.9449 against the aussie, 1.5043 against the euro and 1.3439 against the greenback as of 9:55 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Pound Recovers Against Majors

BRUSSELS (dpa-AFX) - The pound came off from its early lows against its major counterparts in the European session on Wednesday.The pound advanced to 144.90 against the yen and 1.2956 against the dollar, from its early more than a 3-week low of 144.40 and more than a 2-month low of 1.2915, respectively.The pound reversed from its early low of 0.8679 against the euro, rising to 0.8651.The pound recovered to 1.3197 against the franc, from an early 6-day low of 1.3159.The next possible resistance for the pound is seen around 147.00 against the yen, 1.32 against the dollar, 0.85 against the euro and 1.33 against the franc.Copyright RTT News/dpa-AFX
24.04.2019

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

BRUSSELS (dpa-AFX) - The U.K. public sector finance data for March has been released at 4:30 am ET Wednesday. The pound changed little against its major counterparts after the data.The pound was trading at 144.54 against the yen, 0.8676 against the euro, 1.3170 against the franc and 1.2927 against the greenback around 4:33 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Pound Mixed Ahead Of U.K. Public Sector Finance Data

BRUSSELS (dpa-AFX) - The U.K. public sector finance data for March is due at 4:30 am ET Wednesday. Ahead of the data, the pound traded mixed against its major counterparts. While the pound dropped against the franc and the euro, it held steady against the greenback and the yen.The pound was worth 144.54 against the yen, 0.8677 against the euro, 1.3163 against the franc and 1.2925 against the greenback as of 4:25 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Euro Drops After German Ifo Business Climate Index

BRUSSELS (dpa-AFX) - Following the release of German Ifo business climate index for April at 4:00 am ET Wednesday, the euro fell against its major counterparts.The euro was trading at 125.18 against the yen, 1.1415 against the franc, 0.8666 against the pound and 1.1199 against the greenback around 4:01 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Euro Mixed Ahead Of German Ifo Business Climate Index

BRUSSELS (dpa-AFX) - At 4:00 am ET Wednesday, German Ifo business climate index for April is due. Ahead of the data, the euro traded mixed against its major counterparts. While the euro rose against the pound, it dropped against the rest of major counterparts.The euro was worth 125.39 against the yen, 1.1427 against the franc, 0.8672 against the pound and 1.1214 against the greenback as of 3:55 am ET.Copyright RTT News/dpa-AFX
24.04.2019

Australian Dollar Slides On Disappointing Inflation Data

CANBERA (dpa-AFX) - The Australian dollar slipped against its major counterparts in the Asian session on Wednesday, as nation's inflation missed forecasts in the first quarter, stocking hopes for a rate cut by the Reserve bank of Australia in coming months.Data from the Australian Bureau of Statistics showed that the consumer price index rose 0.1 percent on a seasonally adjusted basis in the first quarter, following a rise of 0.4 percent in the fourth quarter. Economists had forecast a 0.2 percent rise.On a year-on-year basis, the CPI rose 1.3 percent after an increase of 1.8 percent in the previous quarter. Economists had expected a 1.5 percent rise in inflation. Investors awaited U.S.-China trade talks. According to U.S. Press Secretary Sarah Huckabee Sanders, U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will head to Beijing next week for talks that start on April 30.Following those talks, Chinese Vice Premier Liu He will lead a delegation to Washington for further discussions that begin on May 8.The aussie depreciated to 0.7027 against the greenback, its lowest since March 11. The aussie is seen finding support around the 0.69 level.The aussie that closed yesterday's trading at 79.44 against the yen fell to a 3-week low of 78.50. The next possible support for the aussie is seen around the 77.5 level. The aussie weakened to more than a 4-week low of 1.5959 against the euro, compared to 1.5809 hit late New York Tuesday. If the aussie drops further, 1.62 is possibly seen as its next support level. The Australian currency slipped to a 3-week low of 0.9450 against the loonie from yesterday's closing value of 0.9533. Next key support for the aussie is likely seen around the 0.92 level. The aussie hit a weekly low of 1.0617 against the kiwi, down from Tuesday's closing value of 1.0668. The aussie is poised to find support around the 1.05 level. Looking ahead, German Ifo business climate and Swiss economic sentiment index for April, as well as U.K. public sector finance data for March are due in the European session.The Bank of Canada announces its interest rate decision at 10:00 am ET. Economists expect the bank rate to remain on hold at 1.75 percent.Copyright RTT News/dpa-AFX

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