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14.12.2018

Adobe Climbs Off Worst Levels But Remains Firmly Negative

SAN JOSE (dpa-AFX) - After falling sharply early in the session, shares of Adobe Inc. (ADBE) continue to see considerable weakness in afternoon trading on Friday. Adobe has climbed off its worst levels of the day but remains down by 6 percent.The early sell-off by Adobe came after the software maker appeared to report fiscal fourth quarter earnings and provide fiscal 2019 guidance below analyst estimates.Adobe reported fourth quarter adjusted earnings of $1.83 per share compared to analyst estimates of $1.88 per share, although the company reported earnings of $1.90 per share excluding costs related to the acquisition of Marketo.The company also forecast fiscal 2019 earnings below current analyst estimates, reflecting the acquisition costs as well as adverse changes in global currency rates.Copyright RTT News/dpa-AFX
14.12.2018

Johnson & Johnson Down 8% On Report Of Asbestos In Baby Powder

NEW BRUNSWICK (dpa-AFX) - Shares of Johnson & Johnson (JNJ) slipped a sharp 8% on Friday after a report from Reuters said the healthcare giant knew for decades that its baby powder contained asbestos.While J&J insists on the safety and purity of its iconic product, internal documents examined by Reuters show the company's powder was sometimes tainted with carcinogenic asbestos and that J&J kept that information from regulators and the public. The review showed that from 1971 to the early 2000s, J&J executives, mine managers, doctors and lawyers were aware the company's raw talc and finished powders sometimes tested positive for small amounts of asbestos. However, the problem was never disclosed to regulators or the public.'Plaintiffs' attorneys out for personal financial gain are distorting historical documents and intentionally creating confusion in the courtroom and in the media,' Ernie Knewitz, J&J's vice president of global media relations, told Reuters in an email. 'This is all a calculated attempt to distract from the fact that thousands of independent tests prove our talc does not contain asbestos or cause cancer. Any suggestion that Johnson & Johnson knew or hid information about the safety of talc is false.'The company has faced a series of lawsuits alleging its baby powder products contain asbestos and caused ovarian and other cancers. In July, a Missouri jury ordered J&J to pay $4.9 billion in a case involving 22 women and their families.JNJ is currently trading at $135.99, down $11.85 or 8.02%, on the NYSE, on a volume of 37 million shares, far above the average volume of 7.3 million shares.Copyright RTT News/dpa-AFX
14.12.2018

Costco Under Pressure On Weaker Than Expected Q1 Earnings

ISSAQUAH (dpa-AFX) - After gapping open significantly lower, shares of Costco Wholesale Corp. (COST) have seen some further downside during the trading session on Friday. Costco is currently down by 8.4 percent after hitting its lowest intraday level in five months.The steep drop by Costco comes after the warehouse club operator reported fiscal first quarter earnings just below analyst estimates.Costco reported first quarter adjusted earnings of $1.61 per share compared to analyst estimates for $1.62 per share, although its revenues of $35.1 billion came in above expectations for $34.6 billion.Copyright RTT News/dpa-AFX
14.12.2018

LVMH To Acquire Belmond For $2.6 Bln

PARIS (dpa-AFX) - French luxury group LVMH Mot Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) has agreed to acquire Belmond Ltd. (BEL) for an equity value of $2.6 billion, the companies said Friday. Shares of Belmond are gaining 40 percent in the regular trading session.Belmond is a London-based owner and operator of 46 luxury hotel, restaurant, train and river cruise properties. The company also operates '21' Club, one of New York's most storied restaurants.LVMH, the owner of iconic fashion brands like Louis Vuitton, Christian Dior and Dom Perignon, will pay $25.00 per Class A share in cash, representing a premium of 41.6 percent over Thursday's closing stock price of $17.65 on the New York Stock Exchange. The transaction has an enterprise value of $3.2 billion.The transaction, subject to the approval of Belmond's shareholders, is expected to be completed in the first half of 2019.In the twelve months ended September 30, 2018, Belmond recorded total revenues of $572 million and adjusted earnings before interest, taxes, depreciation and amortization or EBITDA of $140 million. Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of hotel and luxury travel adventures around the world. The company operates in 24 countries with its distinctive portfolio of 46 hotel, rail and river cruise experiences.Belmond's iconic properties include hotels like Hotel Cipriani in Venice, Hotel Splendido in Portofino, Copacabana Palace in Rio de Janeiro, Le Manoir aux Quat'Saisons in Oxfordshire, Grand Hotel Europe in St. Petersburg, Maroma Resort & Spa in Mexico, Hotel das Cataratas in the Iguassu National Park in Brazil, and Cap Juluca in Anguilla. Legendary trains, such as the Venice Simplon-Orient-Express and Belmond Royal Scotsman as well as luxury cruises such as Belmond Afloat in France fleet and Belmond Road to Mandalay, are also part of Belmond's portfolio.LVMH noted that the acquisition will significantly increase its presence in the ultimate luxury hotel world. According to the company, Belmond is an ideal complement to the high-end Cheval Blanc maisons and the Bulgari hotels.Copyright RTT News/dpa-AFX
14.12.2018

LSE Appoints Experian Executive Donald Robert To Succeed Brydon As Chairman

DUBLIN (dpa-AFX) - London Stock Exchange Group (LSE.L) said that it appointed Donald Robert as a Non-Executive Director of the Board of LSEG, as of 1 January 2019. He will succeed Donald Brydon as Chairman of LSEG after the conclusion of the Annual General Meeting on 1 May 2019. LSE noted that Don Robert's fee as a Non-Executive Director will be 75,000 pounds per annum. When he succeeds Donald Brydon as Chairman, his fee will be 525,000 pounds.Separately, Experian plc (EXPN.L) said that Donald Robert has notified Experian of his intention to step down as Chairman and as a Director of the Company at the later of the conclusion of the 2019 Annual General Meeting of the Company, to be held in July 2019, or when a successor is in place.Experian said that its Nomination & Corporate Governance Committee will oversee the process of appointing a successor to Don, led by George Rose, Deputy Chairman and Senior Independent Director. A further announcement will be made once the appointment process concludes.Copyright RTT News/dpa-AFX
14.12.2018

CropEnergies Preliminary Q3 Results Down, But Lifts FY Outlook

BERLIN (dpa-AFX) - CropEnergies AG increased its outlook for the 2018/19 financial year, due to unexpectedly strong increases in ethanol prices in Europe in the last few weeks. According to preliminary result, Revenues were 202.9 million euros in the third- quarter of the current financial year, compared to the previous year of 219.1 million euros. EBITDA was 14.8 million euros compared to 21.7 million euros last year. Operating profit declined to 5.0 million euros from 12.0 million euros last year. The main reason for the decline in earnings were the higher raw material costs compared to the previous year.For the full financial year 2018/19 (1 March 2018 - 28 February 2019), CropEnergies now expects revenues of 770 million euros to 800 million euros, compared to the previously expected range of 750 million euros to 780 million euros. It raised EBITDA outlook to a range of 65 million euros - 80 million euros from the prior outlook of 55 million euros - 75 million euros. Operating profit is expected to reach 25 million euros - 40 million euros, compared to the prior outlook of 15 million euros to 35 million euros.The company noted that the full report for the first nine months of the financial year 2018/19 will be published on 9 January 2019.Copyright RTT News/dpa-AFX
14.12.2018

Nucor Sees Strong Demand And Favorable Pricing To Continue In 2019

WASHINGTON (dpa-AFX) - Nucor Corp. (NUE) announced guidance for fourth quarter and full year 2018 earnings. It expects strong demand and favorable pricing to continue in 2019, facilitating continued free cash flow generation.Nucor expects to report fourth quarter 2018 consolidated net earnings in the range of $1.90 to $1.95 per share as compared to $1.20 per share in the fourth quarter of 2017. Fourth quarter of 2017 results included a net benefit of $175.2 million or $0.55 per diluted share, related to the impacts of U.S. federal tax legislation enacted in the fourth quarter of 2017. Analysts polled by Thomson Reuters expect the company to report earnings of $1.98 per share for the fourth-quarter. Analysts' estimates typically exclude special items.The company expects to report full year 2018 consolidated net earnings in the range of $7.25 to $7.30 per share, which would be a new annual record for Nucor and an increase of approximately 22% as compared to the Company's previous record earnings of $5.98 per share reported in 2008. Analysts expect annual earnings of $7.53 per share.The company benefitted from strong economic conditions in the United States throughout 2018, which the company believes was positively impacted by tax and regulatory reform. Additionally, broad-based tariffs imposed under Section 232 have been a tailwind contributing to our expected record 2018 earnings. 'As we head into 2019, we continue to see strong demand and higher year over year average prices across most products,' said John Ferriola, Chairman, CEO and President of Nucor. Nucor expects to continue generating strong free cash flow in 2019, and the Company's focus remains on enhancing shareholder value through disciplined capital allocation.Copyright RTT News/dpa-AFX
14.12.2018

GlaxoSmithKline Commences Cash Tender Offer For TESARO

LONDON (dpa-AFX) - GlaxoSmithKline plc (GSK, GSK.L) said that it commenced a cash tender offer for all of the issued and outstanding shares of common stock of TESARO Inc. (TRSO) for a price of $75.00 per share.The tender offer commenced today and will expire at one minute past 11:59 P.M., Eastern Time, on January 14, 2019, unless otherwise extended or terminated.The tender offer and the merger are subject to customary closing conditions, including the tender by TESARO stockholders of at least one share more than 50% of the issued and outstanding shares of TESARO and required regulatory approvals, including the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, having expired or been terminated.Copyright RTT News/dpa-AFX
14.12.2018

AirMedia CFO Richard Wu Resigns; Names Herman Guo Interim CFO

BEIJING (dpa-AFX) - AirMedia Group Inc. (AMCN) announced that Richard Wu, CFO, had tendered his resignation, effective from December 31, 2018. The Board of AirMedia Group accepted Wu's resignation and appointed Herman Guo, chairman and CEO, as the Interim CFO until a suitable candidate for CFO is identified. The Board approved a consultancy agreement engaging Wu as a consultant to the company until December 31, 2021.Herman Guo, CEO, said: 'The company will look for the suitable candidate for CFO during this transition period.'Copyright RTT News/dpa-AFX
14.12.2018

Suncor Plans Avg. Upstream Production Rise Of Approx. 10% In FY19

OTTAWA (dpa-AFX) - Suncor Energy Inc (SU.TO) announced 2019 corporate guidance which includes a capital program of between $4.9 and $5.6 billion and average upstream production of 780,000 to 820,000 barrels of oil equivalent per day. The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory production curtailments, from approximately 730,000 boe/d in 2018.Suncor noted that its production guidance assumes the mandatory production curtailments imposed by The Government of Alberta are in place for three months before declining to 30% of initial levels for the remainder of 2019.Copyright RTT News/dpa-AFX
14.12.2018

The Swiss Stock Market Pulled Back On Global Growth Concerns

BRUSSELS (dpa-AFX) - The Swiss stock market ended Friday's session firmly in negative territory. Global equity markets were under pressure at the end of the trading week following the release of a pair of weaker than expected Chinese economic reports.The Swiss Market Index decreased by 1.15 percent Friday and finished at 8,713.68. The Swiss Leader Index dropped 1.19 percent and the Swiss Performance Index lost 1.16 percent.Index heavyweight Roche dropped 1.7 percent. Morgan Stanley initiated coverage on the stock with an 'Overweight' rating. Nestle declined 1.1 percent and Novartis lost 0.6 percent.The weak Chinese data weighed on shares of the luxury goods companies. Swatch Group fell 2.5 percent and rival Richemont surrendered 2 percent.Julius Baer decreased 2.1 percent, Credit Suisse weakened by 1 percent and UBS lost 0.8 percent.Givaudan slid 0.5 percent after it revealed that it has entered into exclusive negotiations to acquire Albert Vieille.Copyright RTT News/dpa-AFX
14.12.2018

European Markets Pulled Back On Weak Chinese Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Friday's session in the red. After a weak start to the day, the markets managed to pare their losses slightly in the afternoon, despite the weak performance on Wall Street.Disappointing economic data from China weighed on the markets at the start of the day. Chinese industrial output and retail sales data came in weaker than expected. Reports on industrial production in Germany and manufacturing activity in the Eurozone, France and Germany also contributed to the negative mood among investors.The pan-European Stoxx Europe 600 index weakened 0.64 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.64 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.61 percent.The DAX of Germany dropped 0.54 percent and the CAC of France fell 0.88 percent. The FTSE 100 of the U.K. declined 0.47 percent and the SMI of Switzerland finished lower by 1.15 percent.In Paris, LVMH fell 1.52 percent after it agreed to acquire Belmond Ltd. for an equity value of $2.6 billion.New passenger car registrations in the European Union declined for a third straight month in November, the European Automobile Manufacturers Association, or ACEA, said Friday. Demand for new cars fell 8 percent year-on-year following a 7.3 percent slump in October and a 23.5 percent plunge in September.Eurozone private sector grew at the slowest pace in more than four years during December, suggesting that the 19-nation economy is set to end this year with a whimper. The flash Composite purchasing managers' index, or PMI, which combines manufacturing and services, fell to a 49-month low of 51.3 from 52.7 in November, survey data from IHS Markit showed. Economists had forecast a modest improvement in the index to 52.8.Germany's private sector expanded at the slowest pace in four years during December amid slower growth in manufacturing and services, survey data from IHS Markit showed on Friday. The flash Composite Purchasing Managers' Index fell to a 48-month low of 52.2 from 52.3 in November. Economists had expected a score of 52.8.Germany's wholesale price inflation slowed in November, entirely reversing the acceleration seen in the previous month, preliminary data from the Federal Statistical Office showed on Friday. The wholesale price index rose 3.5 percent year-on-year following a 4 percent increase in October. The measure climbed at 3.5 percent in September.France's private sector contracted for the first time in two-and-a-half years in December with both manufacturing and services activities falling, , amid widespread reports of disruption to business due to the ongoing Yellow Vests or 'gilets jaunes' anti-government protests, survey data from IHS Markit showed on Friday. The flash Composite Purchasing Managers' Index, or PMI, which combines manufacturing and services, fell to a 30-month low of 49.3 from 54.2 in November. Economists had forecast a moderate decline to 54.With a steep drop in sales by gas stations partly offsetting notable growth at other stores, the Commerce Department released a report on Friday showing a slightly smaller than expected increase in U.S. retail sales in the month of November.The Commerce Department said retail sales edged up by 0.2 percent in November after spiking by an upwardly revised 1.1 percent in October. Economists had expected retail sales to rise by 0.3 percent compared to the 0.8 percent increase originally reported for the previous month.Reflecting jumps in utilities and mining output, the Federal Reserve released a report on Friday showing a much bigger than expected increase in U.S. industrial production in the month of November. The Fed said industrial production climbed by 0.6 percent in November compared to economist estimates for 0.3 percent growth.A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of October. The Commerce Department said business inventories climbed by 0.6 percent in October following an upwardly revised 0.5 percent advance in September.Economists had expected to inventories to rise by 0.6 percent compared to the 0.3 percent increase originally reported for the previous month.Copyright RTT News/dpa-AFX
14.12.2018

Wall Street Sees Red

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Retail Sales, the Flash Composite PMI and Industrial Production report are the major focus on Friday. The initial cues from the U.S. Futures Index points to a significantly lower opening for Wall Street. Asian shares finished were down, while European shares are trading in the red. As of 7.50 am ET, the Dow futures were down 203.00 points, the S&P 500 futures were declining 22.50 points and the Nasdaq 100 futures were decreasing 68.75 points. U.S. stocks finished mixed on Thursday. While the Dow rose 70.11 points or 0.3 percent to 24,597.38, the Nasdaq fell 27.98 points or 0.4 percent to 7,070.33 and the S&P 500 edged down 0.53 points or less than a tenth of a percent to 2,650.54.On the economic front, the Commerce Department will release Retail Sales for November at 8.30 am ET. The consensus is for growth of 0.1 percent, compared to 0.8 percent increase in the prior month. Industrial Production report for November will be published at 9.15 am ET. The consensus is for 0.3 percent, versus 0.1 percent in the previous month. The Flash Composite Purchasing Managers' Index for December is scheduled at 9.45 am ET. In the prior month, the Composite level was 54.4. Business Inventories for October will be issued at 10.00 am ET. The consensus is for 0.6 percent, up from 0.3 percent in the prior month. Baker-Hughes Rig Count for the week will be revealed at 1.00 pm ET. The North American Rig Count were 1261, while the U.S. rig count were 1075. Asian markets ended notably lower on Friday. Chines markets were down. Shanghai's benchmark Shanghai Composite declined 40.31 points, or 1.53 percent, at 2,593.74. In Hong Kong, the Hang Seng ended down 1.84 percent, at 26,037.00.The latest batch of economic data showed China's industrial output grew at its slowest pace in nearly three years, increasing by 5.4 percent in November, after growing by 5.9 percent a month earlier. Meanwhile, retail sales in China grew 8.1 percent in November, the weakest growth since 2003. The Japanese market ended lower. Japan's benchmark Nikkei 225 declined by 2.02 percent, to 21,374.83.The Australian market ended lower. The benchmark S&P/ASX 200 ended down 59.60 points, or 1.05 percent, at 5602.00. The broader All Ordinaries Index ended lower by 56.50 points, or 1 percent, at 5678.80.European shares are losing. France's CAC 40 is declining 40.08 points or 0.82 percent. Germany's DAX is down 68.56 points or 0.63 percent. FTSE 100 of U.K. is decreasing 44.15 points or 0.64 percent. Swiss Market Index is falling 99.17 points or 1.12 percent. Eurozone's leading Blue Chip index,Euro Stoxx 50, is losing 0.70 percent.Copyright RTT News/dpa-AFX
14.12.2018

European Markets Notably Lower On Growth Worries

MADRID (dpa-AFX) - Most of the markets across Europe are notably lower on Friday after opening on a highly negative note, reacting to disappointing economic data from China.Stocks lost further ground as the session progressed, reacting to weak reports on industrial production in Germany and manufacturing activity in eurozone, France and Germany. Skepticism about a U.S.-China deal before the expiry of the 90-day truce period, the ECB President's warning about a growth slowdown in the eurozone next year and uncertainty about a smooth Brexit also contributed to the sell-off in European markets.Among major European stock indices, the U.K.'s FTSE 100 is down 0.7 percent, the French DAX is declining 0.85 percent and France's CAC 40 is down by 1.04 percent.The benchmark indices of markets in Italy, Spain, Sweden, Switzerland and Turkey are also notably lower.In economic news from Germany, the Preliminary PMI Manufacturing Index for December has come in with a score of 51.5, as against an expected reading of 52. In November, the Index came in with a score of 51.8. The PMI Services index dropped to 52.5 from 53.3 a month earlier. Meanwhile, the wholesale price index for November rose 0.2 percent, compared to 0.3 percent in the preceding month. Germany's industrial production in October unexpectedly dropped for the first time in three months, suggesting that manufacturing is yet to recover from a slowdown despite some improvement in demand. Industrial production dropped 0.5 percent from September, when they grew 0.1 percent, revised from 0.2 percent, preliminary figures from the Federal Statistical Office showed.A preliminary reading of manufacturing activity in France for December, came in with a score of 49.7, lower than an expected score of 51 and previous month's reading of 50.8.Eurozone flash manufacturing PMI for December came in with a reading of 51.4, down from 51.8 a month earlier. The Composite PMI reading for the month is 51.3, as against expectations of 52.8.On the Brexit front, May reportedly said on Thursday that she was not expecting a 'breakthrough' on Brexit agreement at this week's EU summit and added that she would focus on the assurances over the 'backstop' plan to avoid a manned Irish border.Meanwhile, Croatia's prime minister is reported to have said that European Union leaders could meet in January for a new Brexit summit once Britain clarifies exactly what help it needs to pass the deal in the U.K. Parliament.Copyright RTT News/dpa-AFX
14.12.2018

FTSE Slides On Growth Worries

LONDON (dpa-AFX) - U.K. stocks are sliding on Friday, mirroring the trend across Europe, due to rising concerns about global growth after the latest batch of economic data from China fell way short of expectations.Weak eurozone economic data, disappointing manufacturing activity reports from Germany and France, Brexit uncertainty and doubts about U.S. and China striking a trade deal anytime soon are all contributing to the weakness in the market.The FTSE 100 index is down 63 points, or 0.91 percent, at 6,814.50.Shares from food & drug retailers, software, mining, construction, healthcare equipment, real estate and banking sectors are mostly down with sharp losses.British Prime Minister Theresa May, who canceled a vote in Parliament this week after it became clear the assembly would reject the Brexit deal she concluded with the EU.May reportedly said on Thursday that she was not expecting a 'breakthrough' on Brexit agreement at this week's EU summit and added that she would focus on the assurances over the 'backstop' plan to avoid a manned Irish border.Meanwhile, Croatia's prime minister is reported to have said that European Union leaders could meet in January for a new Brexit summit once Britain clarifies exactly what help it needs to pass the deal in the U.K. Parliament.Copyright RTT News/dpa-AFX
14.12.2018

CAC Drifts Lower On Weak Data

PARIS (dpa-AFX) - Shares are sliding down sharply in the French stock market, with weak Chinese and Eurozone economic data raising concerns about global growth.The optimism about U.S.-China trade talks has faded substantially. A flash reading of manufacturing activity in December and the ECB President's warning about a growth slowdown in the eurozone next year is weighing as well.The benchmark CAC 40 index is down 71.58 points or 1.46 percent at 4,825.33.Valeo is down by about 5 percent. Renault, Atos, ArcelorMittal, Michelin, ST Microelectronics, Saint Gobain, BNP Paribas, Societe Generale, Capgemini, Peugeot and Dassault Systemes are down 2.5 to 5 percent. Technip FMC and Engie, the two stocks that have bucked the trend, are up 0.7 percent and 0.1 percent, respectively.A preliminary reading of manufacturing activity in France for December, came in with a score of 49.7, lower than an expected score of 51 and previous month's reading of 50.8.Eurozone flash manufacturing PMI for December came in with a reading of 51.4, down from 51.8 a month earlier. The Composite PMI reading for the month is 51.3, as against expectations of 52.8.Data released by China this morning showed the country's industrial production to have dropped to the slowest pace in three years in November. Retails sales in November increased at the slowest pace since 2003, the data showed.Copyright RTT News/dpa-AFX
14.12.2018

DAX Declines Sharply On Growth Worries

BERLIN (dpa-AFX) - The German stock market is down sharply on Friday, with disappointing Chinese economic data raising concerns about global economic growth and triggering widespread selling across Asia and Europe.The impact of U.S.-China trade disputes could be gauged from the data that showed Chinese industrial production to have dropped to the slowest pace in three years and its retail sales increasing at the slowest pace since 2003.Apart from weak Chinese data, disappointing manufacturing and services sectors data from Germany and a weak reading of the manufacturing activity in Eurozone are also weighing on the market.Germany's benchmark index DAX is down 162.88 points, or 1.49 percent, at 10,761.82.Technology, banks, construction, automobile, chemicals and industrials stocks are declining sharply. Except the indices tracking the performances of media, food & beverage shares, all the indices are down in negative territory, with many of these losing between 1.4 to 3 percent.In economic news from Germany, the Preliminary PMI Manufacturing Index for December has come in with a score of 51.5, as against an expected reading of 52. In November, the Index came in with a score of 51.8. The PMI Services index dropped to 52.5 from 53.3 a month earlier. Meanwhile, the wholesale price index for November rose 0.2 percent, compared to 0.3 percent in the preceding month. Eurozone flash manufacturing PMI for December came in with a reading of 51.4, down from 51.8 a month earlier. The Composite PMI reading for the month is 51.3, as against expectations of 52.8.Copyright RTT News/dpa-AFX
14.12.2018

Asian Markets Settle Lower On Weak Chinese Data

CANBERA (dpa-AFX) - Asian markets ended notably lower on Friday, hurt by data showing disappointing pace of industrial output and retail sales growth in China in the month of November. Worries about slowing global economic growth and skepticism about a trade deal between U.S. and China anytime soon weighed as well on Asian markets.The latest batch of economic data showed China's industrial output grew at its slowest pace in nearly three years, increasing by 5.4 percent in November, after growing by 5.9 percent a month earlier. Meanwhile, retail sales in China grew 8.1 percent in November, the weakest growth since 2003. In October, retail sales were up 8.6 percent. The slower pace of industrial output and retail sales growth was due to the impact of the ongoing trade disputes with the U.S.In the Chinese market, financial, materials, industries, telecommunications, energy, information technology and healthcare stocks declined. The market breadth was very weak with as many as 1133 shares closing lower. Only 81 stocks made it to positive territory.Shanghai's benchmark Shanghai Composite ended down 40.31 points, or 1.53 percent, at 2,593.74.In Hong Kong, the Hang Seng ended down 1.84 percent, at 26,037.00.The Japanese market ended lower despite a fairly decent Tankan survey report. Japan's benchmark Nikkei 225 declined by 2.02 percent, to 21,374.83.Out of the 225-stock strong Nikkei index, just 16 stocks ended higher. 205 stocks closed weak, while 4 stocks ended flat.Tokyo Dome ended lower by 7.7 percent. Yahoo Japan, Tokyo Electron, Eisai and Trend Micro declined by 5 to 6 percent.Among the gainers, Showa Denko KK, Mitsubishi Estate and Isetan Mitsukoshi Holdings moved up 1.5 to 1.7 percent.The Bank of Japan said in its quarterly Tankan Survey that the index of business and manufacturing sentiment in Japan was steady in the fourth quarter of 2018. The large manufacturing index was unchanged with a score of +19, beating expectations for +18. The outlook came in at +15, shy of forecasts for +17 and down from +19 in the previous three months.The large non-manufacturing index came in at +24, topping forecasts for +21 and up from +22. The outlook was at +20, in line with forecasts and down from +22. All industry capex is seen higher by 14.3 percent, beating forecasts for 12.8 percent and up from 13.4 percent in the three months prior.The Australian market ended lower, led by losses in information technology, bank and telecommunications stocks.The benchmark S&P/ASX 200 ended down 59.60 points, or 1.05 percent, at 5602.00. The broader All Ordinaries Index ended lower by 56.50 points, or 1 percent, at 5678.80.Sigma Pharmaceuticals soared more than 43 percent and Australian Pharma Industries jumped 8.5 percent. Infigen Energy shares closed stronger by 11.8%. GWA Group (up 5 percent) and New Hope Corporation (up 3.15 percent) were among the other notable performers in the ASX 200 index.Nine Entertainment, Domain Holdings, Speedcast International, AfterPay Touch Group and A2 Milk Company shares ended lower by 4 to 9 percent. In the currency market, the Aussie was lower by about 0.5 percent against the U.S. dollar.Taiwan's Taiwan Weighted Index ended lower by 0.86 percent and New Zealand's benchmark shed 0.8 percent. The South Korean market also ended notably lower, with its benchmark KOSPI declining by about 1.25 percent.In the Indian market, shares were swinging between gains and losses right from the start, with investors looking for direction after three successive days of gains. The Sensex was up 19.80 points, or 0.07 percent, at 35,949.44, while the Nifty50 was flat at 10,791.20.The Indonesian market was down marginally a few minutes into the closing bell, while markets in Singapore and Malaysia looked set for a notably lower close.Copyright RTT News/dpa-AFX
14.12.2018

European Shares Likely To See Mixed Opening

PARIS (dpa-AFX) - European shares are likely to open on a mixed note on Friday, tracking weak cues from Asian markets and on lingering concerns about Brexit uncertainty and skepticism about U.S.-China trade managing to agree on a long term trade deal before the expiry of the 90-day truce period.Asian markets were mostly lower after the latest batch of economic data from China showed industrial output in the country grew by 5.4 percent in November, slower than the 5.9 percent growth seen a month earlier. Retail sales in China increased by 8.1 percent in November, after rising 8.6 percent in October.The conclusion of ECB's Asset Purchase Program and the lowering of growth projections for Eurozone will weigh as well.Investors are also likely to closely follow the developments on the Brexit front. British Prime Minister Theresa May is currently in Brussels, attending the European Union summit. May reportedly said on Thursday that she was not expecting a 'breakthrough' on Brexit agreement at this week's EU summit and added that she would focus on the assurances over the 'backstop' plan to avoid a manned Irish border.Economic data from Eurozone will provide some direction to the market.On the economic front, data on wholesale price inflation in Germany for November at 2 AM ET.At 3 PM ET, Consumer price inflation data for Spain is due for release.At 3.30 AM ET, Germany PMI Manufacturing report will be out.At 4 AM ET, a report on manufacturing activity in Eurozone is due.In commodities today, crude oil futures were declining $0.25, or 0.48%, at $52.33 a barrel.Gold futures were lower by $2.25, or 0.18%, at $1,245.15 an ounce. Silver and Copper futures for March were down 0.6% and 0.4%, at $14.760 an ounce and $2.755 per pound, respectively.On Thursday, the European markets ended mixed with investors largely treading a cautious approach after the ECB confirmed that it will end its massive Asset Purchase Programme in December.ECB President Mario Draghi's warning that the 'balance of risks is moving to the downside,' and the lowering of GDP and inflation forecasts for the eurozone also weighed on sentiment. The European Central Bank left its interest rates unchanged. The euro area growth forecast for next year was trimmed to 1.7 percent from 1.8 percent. The outlook for this year was cut to 1.9 percent from 2 percent.Among the major markets in Europe, U.K and Germany ended slightly weak with their benchmark indices FTSE and CAC 40 both losing 0.04%. France's CAC 40 edged down by 0.26 percent. Switzerland's SMI closed lower by 0.52 percent.Copyright RTT News/dpa-AFX
14.12.2018

Asian Markets Lower On Weak China Economic Data

CANBERA (dpa-AFX) - Asian stock markets are notably lower on Friday following the lackluster cues from Wall Street and as investors digested economic data from China that missed expectations.China's industrial output and retail sales growth for the month of November missed expectations, reinforcing worries about a slowdown in the world's second largest economy amid trade tensions with the U.S. China's retail sales grew at the weakest pace since 2003, while industrial output grew at its slowest pace in nearly three years.The Australian market is declining following the lackluster cues from Wall Street amid skepticism about a U.S.-China trade deal. Investors are also cautious as they digested a raft of economic data from China, Australia's largest trading partner.The benchmark S&P/ASX 200 Index is losing 41.00 points or 0.72 percent to 5,620.60. The broader All Ordinaries Index is down 39.80 points or 0.69 percent to 5,695.50. Australian stocks edged higher on Thursday.The major miners are weak despite higher copper and iron ore prices. BHP is down 0.5 percent, Rio Tinto is losing almost 1 percent and Fortescue Metals is lower by more than 2 percent.In the banking sector, National Australia Bank, ANZ Banking, Westpac and Commonwealth Bank are declining in a range of 0.9 percent to 1.7 percent.Oil stocks are also lower despite a nearly 3 percent increase in crude oil prices overnight. Woodside Petroleum is lower by 0.5 percent, Oil Search is declining almost 1 percent and Santos is down 1 percent.Gold miners are mixed after gold prices edged lower overnight. Evolution Mining is down 0.3 percent, while Newcrest Mining is adding almost 1 percent.Drug distributor Australian Pharmaceutical Industries or API, which already owns nearly 13 percent of rival Sigma Healthcare, has offered to buy the entire company for about A$727 million. Shares of API are gaining more than 7 percent, while Sigma Healthcare's shares are unchanged.CIMIC Group announced a fresh buyback of another 10 percent of its shares over the next year, marking the fourth straight year it has committed to share buybacks. The engineering company's shares are advancing almost 2 percent.Shares of CSR are losing more than 3 percent after the construction materials company said its chief executive Rob Sindel will retire in 2019 following what has been a difficult run for the company. CSR's shares will drop out of the ASX top 100 on December 24.In the currency market, the Australian dollar is edging lower against the U.S. dollar on Friday. The local currency was quoted at $0.7225, down from $0.7229 on Thursday.The Japanese market is notably lower following the mixed cues from Wall Street and as investors booked profits after two straight days of gains. Investors also digested local economic data, including the Bank of Japan's closely-watched Tankan Survey that showed confidence among large Japanese manufacturers was steady in December.The benchmark Nikkei 225 Index is losing 350.17 points or 1.61 percent to 21,466.02, after touching a low of 21,465.17 earlier. Japanese shares ended higher on Thursday.In the tech sector, Advantest is lower by 3 percent and Tokyo Electron is losing almost 5 percent. The Nikkei Asian Review reported that Apple supplier Japan Display is in talks with Chinese businesses and investment funds to get support for its turnaround efforts. Shares of Japan Display are gaining more than 38 percent. The major exporters are also weak. Canon is down 0.4 percent, Panasonic is declining 1 percent, Sony is lower by more than 1 percent and Mitsubishi Electric is losing 2 percent.Among the major automakers, Honda is declining more than 1 percent and Toyota is down 0.2 percent.In the banking sector, Mitsubishi UFJ Financial is lower by more than 1 percent and Sumitomo Mitsui Financial is down 0.6 percent. In the oil space, Inpex is falling almost 3 percent and Japan Petroleum is down 1 percent despite a surge in crude oil prices overnight.Among the other major gainers, Keio Corp. and Isetan Mitsukoshi are advancing almost 2 percent each, while Sumitomo Dainippon, Daiichi Sankyo and Nippon Paper Industries are all adding more than 1 percent each.On the flip side, Tokyo Dome is losing almost 6 percent and Screen Holdings is lower by more than 5 percent. Pacific Metals, JGC Corp. and Japan Steel Works are lower by more than 4 percent each.In economic news, the Bank of Japan said in its quarterly Tankan Survey that an index of business and manufacturing sentiment in Japan was steady in the fourth quarter of 2018. The large manufacturing index was unchanged with a score of +19, beating expectations for +18. The outlook came in at +15, shy of forecasts for +17 and down from +19 in the previous three months.Japan also will see preliminary December results for the manufacturing PMI from Nikkei and final October numbers for industrial production today.In the currency market, the U.S. dollar is trading in the mid 113 yen-range on Friday.Elsewhere in Asia, South Korea, Singapore, Taiwan and Hong Kong are all losing more than 1 percent each, while Shanghai, New Zealand, Malaysia are also lower. Bucking the trend, Indonesia is edging higher.On Wall Street, stocks closed mixed on Thursday in choppy trading as traders remained somewhat skeptical the U.S. and China will manage to reach a long-term trade agreement amid ongoing disputes over intellectual property and other key issues. Early buying interest was generated after a report from Reuters indicating some Chinese state-owned companies purchased U.S. soybeans for the first time in more than six months was seen as evidence China is making good on its pledges to the U.S.While the Dow rose 70.11 points or 0.3 percent to 24,597.38, the Nasdaq fell 27.98 points or 0.4 percent to 7,070.33 and the S&P 500 edged down 0.53 points or less than a tenth of a percent to 2,650.54.The major European markets moved modestly lower on Thursday. While the French CAC 40 Index dipped by 0.3 percent, the U.K.'s FTSE 100 Index and the German DAX Index both closed just below the unchanged line.Crude oil prices rebounded after early weakness on Thursday, lifted by reports that Saudi Arabia is likely to slash shipments to U.S. refiners. WTI crude for January delivery jumped $1.43 or 2.8 percent to close at $52.58 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
14.12.2018
14.12.2018

U.S. Business Inventories Climb In Line With Estimates In October

WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of October.The Commerce Department said business inventories climbed by 0.6 percent in October following an upwardly revised 0.5 percent advance in September.Economists had expected to inventories to rise by 0.6 percent compared to the 0.3 percent increase originally reported for the previous month.The report said retail and wholesale inventories both advanced by 0.8 percent in October, while manufacturing inventories inched up by 0.1 percent.Meanwhile, the Commerce Department said business sales rose by 0.3 percent in October, matching a downwardly revised increase in September.The sales growth came as a 1.2 percent jump in retail sales more than offset modest decreases in wholesale and manufacturing sales, which edged down by 0.2 percent and 0.1 percent, respectively.With inventories rising by more than sales, the total business inventories/sales ratio ticked up to 1.35 in October from 1.34 in September.Copyright RTT News/dpa-AFX
14.12.2018

Eurozone Private Sector Growth Lowest In Over 4 Years

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Eurozone private sector grew at the slowest pace in more than four years during December, suggesting that the 19-nation economy is set to end this year with a whimper. The flash Composite purchasing managers' index, or PMI, which combines manufacturing and services, fell to a 49-month low of 51.3 from 52.7 in November, survey data from IHS Markit showed. Economists had forecast a modest improvement in the index to 52.8.A reading above 50 suggests growth in the private sector. The flash manufacturing PMI for the euro area dropped to a 34-month low of 51.4 from 51.8 in November. Economists had expected the measure to remain unchanged. The manufacturing output index, meanwhile, rose to a two-month high of 51 from 50.7 in November. The flash services PMI eased to 51.4 from 53.4 in November. Economists had expected the reading to remain steady. Stalled new business inflows, job creation at two-year low and weaker business optimism contributed to the downturn in December.Inflationary pressures remained elevated, but eased. Input price inflation slowed to the weakest level since April and output price growth was the lowest since September. The Yellow Vests or 'gilets jaunes' anti-government protests in France and the weak demand for automobiles due to the implementation of the WLTP emissions test exacerbated the undercurrent of slowing economic growth, IHS Markit said.'Companies are worried about the global economic and political climate, with trade wars and Brexit adding to increased political tensions within the euro area,' IHS Markit economist Chris Williamson said. 'The surveys also point to further signs that the struggling autos sector continued to act as a drag on the region's economy.''While GDP growth in the fourth quarter as a whole is indicated at almost 0.3 percent, the surveys point to quarterly GDP growth momentum slipping closer to 0.1 percent in December alone,' Williamson added. Further, he said forward-looking indicators such as new orders and future expectations remain subdued, suggesting that demand growth is stalling, adding to downside risks to the immediate outlook.Separate reports from IHS Markit showed that Germany's private sector expanded at the slowest pace in four years during December amid slower growth in manufacturing and services.France's private sector contracted for the first time in two-and-a-half years in December with both manufacturing and services activities falling, amid widespread reports of disruption to business due to the ongoing Yellow Vests anti-government protests. Elsewhere, Eurostat reported that Eurozone hourly labor costs annual growth rose to 2.5 percent in the third quarter from 2.3 percent in the second quarter.Copyright RTT News/dpa-AFX
14.12.2018
14.12.2018

Dollar Trading Mixed As Weekend Approaches

WASHINGTON (dpa-AFX) - The dollar is up against its major European rivals Friday afternoon, but has turned lower against the Japanese Yen after paring early gains. Disappointing economic data from China and Europe has helped to drive the buck higher as the weekend approaches. Meanwhile, a trio of U.S. economic reports this morning proved mixed.With a steep drop in sales by gas stations partly offsetting notable growth at other stores, the Commerce Department released a report on Friday showing a slightly smaller than expected increase in U.S. retail sales in the month of November.The Commerce Department said retail sales edged up by 0.2 percent in November after spiking by an upwardly revised 1.1 percent in October. Economists had expected retail sales to rise by 0.3 percent compared to the 0.8 percent increase originally reported for the previous month.Reflecting jumps in utilities and mining output, the Federal Reserve released a report on Friday showing a much bigger than expected increase in U.S. industrial production in the month of November. The Fed said industrial production climbed by 0.6 percent in November compared to economist estimates for 0.3 percent growth.A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of October. The Commerce Department said business inventories climbed by 0.6 percent in October following an upwardly revised 0.5 percent advance in September.Economists had expected to inventories to rise by 0.6 percent compared to the 0.3 percent increase originally reported for the previous month.The dollar has risen to around $1.13 against the Euro Friday afternoon, from an early low of $1.1365.Eurozone private sector grew at the slowest pace in more than four years during December, suggesting that the 19-nation economy is set to end this year with a whimper. The flash Composite purchasing managers' index, or PMI, which combines manufacturing and services, fell to a 49-month low of 51.3 from 52.7 in November, survey data from IHS Markit showed. Economists had forecast a modest improvement in the index to 52.8.Germany's private sector expanded at the slowest pace in four years during December amid slower growth in manufacturing and services, survey data from IHS Markit showed on Friday. The flash Composite Purchasing Managers' Index fell to a 48-month low of 52.2 from 52.3 in November. Economists had expected a score of 52.8.Germany's wholesale price inflation slowed in November, entirely reversing the acceleration seen in the previous month, preliminary data from the Federal Statistical Office showed on Friday. The wholesale price index rose 3.5 percent year-on-year following a 4 percent increase in October. The measure climbed at 3.5 percent in September.France's private sector contracted for the first time in two-and-a-half years in December with both manufacturing and services activities falling, , amid widespread reports of disruption to business due to the ongoing Yellow Vests or 'gilets jaunes' anti-government protests, survey data from IHS Markit showed on Friday. The flash Composite Purchasing Managers' Index, or PMI, which combines manufacturing and services, fell to a 30-month low of 49.3 from 54.2 in November. Economists had forecast a moderate decline to 54.The buck has climbed to around $1.2565 against the pound sterling this afternoon, from an early low of $1.2653.The greenback reached a high of Y113.674 against the Japanese Yen Friday, but has since pulled back to around Y113.350.An index of business and manufacturing sentiment in Japan was steady in the fourth quarter of 2018, the Bank of Japan said in its quarterly Tankan Survey. The large manufacturing index was unchanged with a score of +19, beating expectations for +18. The outlook came in at +15, shy of forecasts for +17 and down from +19 in the previous three months.Copyright RTT News/dpa-AFX
14.12.2018

Dollar Climbs After Better-than-expected U.S. Retail Sales Data

CANBERA (dpa-AFX) - The U.S. dollar strengthened against its key counterparts in the European session on Friday, after a data showed that nation's retail sales grew more than forecast in November.Data from the Commerce Department showed that the retail sales edged up by 0.2 percent in November after spiking by an upwardly revised 1.1 percent in October.Economists had expected retail sales to rise by 0.1 percent compared to the 0.8 percent increase originally reported for the previous month.Excluding a modest increase in sales by motor vehicles and parts dealers, retail sales still rose by 0.2 percent in November after jumping by an upwardly revised 1.0 percent in October. The uptick in ex-auto sales matched economist estimates.Traders look ahead to next week's monetary policy meeting of the Federal Reserve for more direction.The Fed is widely expected to raise interest rate by 25 basis points, but contrary to earlier indications and expectations, the central bank is unlikely to keep hiking rates in the coming year. The greenback rose against its major rivals in the Asian session, with the exception of the yen.The greenback appreciated to more than a 2-week high of 1.1270 against the euro, after falling to 1.1365 at 7:45 pm ET. The next possible resistance for the greenback is seen around the 1.11 level.Preliminary data from the Federal Statistical Office showed that Germany's wholesale price inflation slowed in November, entirely reversing the acceleration seen in the previous month.The wholesale price index rose 3.5 percent year-on-year following a 4 percent increase in October. The measure climbed at 3.5 percent in September. The greenback spiked up to 0.9980 against the Swiss franc, its strongest since December 6. If the greenback rises further, 1.01 is possibly seen as its next resistance level. The greenback added 1.05 percent to hit a 2-day high of 1.2530 against the pound, following a decline to 1.2662 at 5:45 pm ET. On the upside, 1.24 is likely seen as the next resistance level for the greenback. The greenback firmed to 0.7151 against the aussie, a level not seen so far this month. The greenback is poised to challenge resistance around the 0.70 region. The U.S. currency reached as high as 113.68 against the yen, up from a low of 113.42 hit at 9:00 pm ET. The greenback is likely to challenge resistance around the 116.00 area.Data from the Bank of Japan showed that an index of business and manufacturing sentiment in Japan held steady in the fourth quarter of 2018.The large manufacturing index was unchanged with a score of +19, beating expectations for +18. The outlook came in at +15, shy of forecasts for +17 and down from +19 in the previous three months.The greenback held steady against the kiwi, after rising to more than a 2-week high of 0.6778 at 3:55 am ET. The pair was valued at 0.6854 at yesterday's close.The greenback advanced to a 3-day high of 1.3401 against the loonie and held steady thereafter. The pair was valued at 1.3351 when it ended deals on Thursday.The U.S. business inventories for October and Markit's preliminary services PMI for December are scheduled for release shortly.Copyright RTT News/dpa-AFX
14.12.2018

Dollar Advances After U.S. Retail Sales

BRUSSELS (dpa-AFX) - Following the release of U.S. retail sales for November at 8:30 am ET Friday, the greenback climbed against its major rivals.The greenback was worth 113.64 against the yen, 0.9977 against the franc, 1.2549 against the pound and 1.1274 against the euro around 8:34 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Dollar Steady Ahead Of U.S. Retail Sales

BRUSSELS (dpa-AFX) - At 8:30 am ET Friday, the Commerce Department will release U.S. retail sales for November. Ahead of the data, the greenback held steady against its major rivals.The greenback was worth 113.54 against the yen, 0.9970 against the franc, 1.2565 against the pound and 1.1288 against the euro as of 8:25 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Euro Lower After Bundesbank's Growth Downgrade, Weak Eurozone And German PMI

CANBERA (dpa-AFX) - The euro fell sharply against its major opponents in the European session on Friday, after Bundesbank cut German growth forecasts for this year and next and as business growth across the currency bloc slowed further in December.Data from IHS Markit showed that Eurozone business activity slowed to the weakest in over four years in December, amid stagnating new business inflows, slowdown in job growth and deterioration in business optimism. The composite purchasing managers' index fell to 51.3 from 52.7 in the previous month. Economists had expected a score of 52.8.The manufacturing PMI dropped to a 34-month low of 51.4 from 51.8 in November. The reading was forecast to remain unchanged.The services PMI declined to a 49-month low of 51.4, from November's 53.4. Economists had expected the reading to remain unchanged.Separate data showed that German private sector activity grew at the slowest pace in four years in December.The composite purchasing managers' index, or PMI, which combines manufacturing and services, dropped to 52.2 from 52.3 in November. Economists had forecast a score of 52.4.The manufacturing PMI dropped to a 33-month low of 51.5 from 51.8 in November. Economists had expected a reading of 51.7.The services PMI decreased to a seven-month low of 52.5 from 53.3 in November. Economists were looking for a score of 52.4.Germany's central bank slashed economic growth forecast for this year and next citing downside risks to economy.Bundesbank lowered its 2018 GDP growth forecast to 1.5 percent from 2.0 percent projected in June. For 2019, the central bank revised down the GDP outlook to 1.6 percent from previous estimate of 1.9 percent.European shares fell amid rising concerns about global growth after the latest batch of economic data from China fell short of expectations.Weak eurozone economic data, disappointing manufacturing activity reports from Germany and France, Brexit uncertainty and doubts about U.S. and China striking a trade deal anytime soon are all contributing to the weakness in the market.Preliminary data from the Federal Statistical Office showed that Germany's wholesale price inflation slowed in November, entirely reversing the acceleration seen in the previous month.The wholesale price index rose 3.5 percent year-on-year following a 4 percent increase in October. The measure climbed at 3.5 percent in September. The currency was trading mixed against its major counterparts in the Asian session. While it declined against the greenback and the yen, it held steady against the franc. Against the pound, it rose.The euro declined to more than a 2-week low of 1.1287 against the greenback, after rising to 1.1365 at 7:45 pm ET. On the downside, 1.10 is likely seen as the next support for the euro.Pulling away from an early high of 129.12 against the yen, the euro slipped to a weekly low of 128.12. The euro is seen finding support around the 126.5 mark.Data from the Bank of Japan showed that an index of business and manufacturing sentiment in Japan held steady in the fourth quarter of 2018.The large manufacturing index was unchanged with a score of +19, beating expectations for +18. The outlook came in at +15, shy of forecasts for +17 and down from +19 in the previous three months.The single currency dropped to a 2-day low of 1.1242 against the franc, from a high of 1.1295 seen at 12:30 am ET. The euro is poised to challenge support around the 1.10 region. The euro reversed from an early high of 0.9005 against the pound, falling to 0.8961. Next key support for the euro is seen around the 0.88 area.The euro slipped to a weekly low of 1.5111 against the loonie, after having risen to 1.5202 at 3:00 am ET. If the euro falls further, 1.50 is likely seen as its next support level.The common currency retreated to 1.5753 against the aussie and 1.6626 against the kiwi, from its early 4-day high of 1.5823 and more than a 2-week high of 1.6728, respectively. The next likely support for the euro is seen around 1.56 against the aussie and 1.64 against the kiwi.Looking ahead, U.S. retail sales and industrial production for November, business inventories for October and Markit's preliminary services PMI for December are scheduled for release in the New York session.Copyright RTT News/dpa-AFX
14.12.2018

Euro Drops Further After Eurozone PMI

BRUSSELS (dpa-AFX) - Following the release of Eurozone manufacturing PMI for December at 4:00 am ET Friday, the euro slipped further against its major counterparts.The euro was trading at 1.1294 against the greenback, 128.30 against the yen, 1.1250 against the franc and 0.8984 against the pound around 4:03 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Euro Weaker Ahead Of Eurozone PMI

BRUSSELS (dpa-AFX) - IHS Markit is set to publish Eurozone manufacturing PMI for December at 4:00 am ET Friday.Ahead of the data, the euro was lower against its major rivals.The euro was worth 1.1303 against the greenback, 128.33 against the yen, 1.1255 against the franc and 0.8988 against the pound at 3:55 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Euro Falls Further Following German PMI

BRUSSELS (dpa-AFX) - At 3:30 am ET Friday, IHS Markit has released German preliminary manufacturing PMI for December.After the data, the euro fell further against its major rivals.The euro was trading at 1.1330 against the greenback, 128.69 against the yen, 1.1271 against the franc and 0.8998 against the pound around 3:34 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Euro Drops Vs Most Majors Ahead Of German PMI

BRUSSELS (dpa-AFX) - At 3:30 am ET Friday, IHS Markit releases German preliminary manufacturing PMI for December.The euro traded mixed against its major counterparts before the data. While the euro rose against the pound, it dropped against the rest of major rivals.The euro was worth 1.1338 against the greenback, 128.77 against the yen, 1.1279 against the franc and 0.9019 against the pound at 3:25 am ET.Copyright RTT News/dpa-AFX
14.12.2018

Commodity Currencies Decline Amid Risk Aversion After Weak China Data

CANBERA (dpa-AFX) - The commodity currencies such as Australian, New Zealand and Canadian dollars slipped against their major opponents in the Asian session on Friday amid risk aversion, as weaker-than-expected Chinese data triggered worries about a slowdown in the world's second largest economy.China's industrial output and retail sales growth for the month of November missed expectations, reinforcing worries about a slowdown in the world's second largest economy amid trade tensions with the U.S. China's retail sales grew at the weakest pace since 2003, while industrial output grew at its slowest pace in nearly three years.Data the National Bureau of Statistics showed that China industrial production grew 5.4 percent year-on-year in November, lower than the 5.9 percent forecast by economists.Retail sales climbed 8.1 percent on year, falling short of forecasts for a gain of 8.8 percent.The aussie slipped to a 3-day low of 81.43 against the yen, from a high of 82.13 hit at 5:00 pm ET. The aussie is likely to find support around the 80.00 region.The Australian currency weakened to 4-day lows of 0.7179 against the greenback, 1. 5822 against the euro and 0.9598 against the loonie, off its early highs of 0.7228, 1.5711 and 0.9650, respectively. The next possible support for the aussie is seen around 0.70 against the greenback, 1.60 against the euro and 0.94 against the loonie. Reversing from its early highs of 0.6862 against the greenback and 1.6545 against the euro, the kiwi slipped to more than 2-week lows of 0.6791 and 1.6728, respectively. The kiwi is seen finding support around 0.66 against the greenback and 1.69 against the euro. The kiwi slid to a 4-day low of 77.05 against the yen and a 9-day low of 1.0587 against the aussie, from its early highs of 77.97 and 1.05201, respectively. On the downside, 76.00 and 1.07 are likely seen as the next support levels for the kiwi against the yen and the aussie, respectively.The loonie followed a similar trend, falling to 1.3373 against the greenback, 1.5191 against the euro and 84.83 against the yen, reversing from its early highs of 1.3346, 1.5158 and 85.12, respectively. If the loonie falls further, 1.35, 1.53 and 83.00 are possibly seen as its support levels against the greenback, the euro and and the yen, respectively. Looking ahead, PMIs from major European economies are due in the European session.In the New York session, U.S. retail sales and industrial production for November, business inventories for October and Markit's preliminary services PMI for December are scheduled for release.Copyright RTT News/dpa-AFX

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