dpa-AFX NEWSTICKER (product sample)

16.06.2019

Serco Reportedly Makes Two Bids To Merge With Babcock

HOOK (dpa-AFX) - Serco (SRP.L) has made at least two attempts to merge with its bigger outsourcing rival Babcock, a deal that would create a 4 billion pounds defence giant, The Sunday Times reported.According to the report, Serco made a preliminary approach late last year. Serco's Chairman Roy Gardner contacted his counterpart at Babcock, Mike Turner, who rejected the bid.The report also said Serco returned with a more detailed proposal for an all-share merger in January.Copyright RTT News/dpa-AFX
16.06.2019

Target Says All Stores Back Online After Systems Outage; No Data Breach

MINNEAPOLIS (dpa-AFX) - Target Corp. (TGT) said that its registers were back online after a systems outage prevented customers from making purchases in stores across the U.S. for about two hours on Saturday.The company clarified that the temporary outage was the result of an internal technology issue, and not security related issue.The company noted that its technology team worked quickly to identify and fix the issue.'After an initial but thorough review, we can confirm that this was not a data breach or security-related issue, and no guest information was compromised at any time,' Target said in a statement.Copyright RTT News/dpa-AFX
15.06.2019

Allianz Buys 49% Stake In Hudson Yards Office Tower For $384 Mln

MUNICH (dpa-AFX) - Allianz SE (AZSEY.PK) announced that it has invested $384 Million for a 49 percent stake in an office condominium in New York's 30 Hudson Yards office building. The condominium in 30 Hudson Yards consists of 1.46 million gross square feet across 26 floors.The company enters into a sale-leaseback agreement as part of a consortium with Related Companies and a third-party investor, who have acquired the remainder of the office condominium.The investment follows the Allianz's purchase of a 44 percent stake in 10 Hudson Yards, the first tower in the development, in mid-2016 for $420 million.The company noted that the 30 Hudson Yards transaction will make New York the fifth most significant city for Allianz Real Estate, globally, in terms of total exposure.Copyright RTT News/dpa-AFX
14.06.2019

Google Investing Another $600 Mln To Expand Oklahoma Data Center

MOUNTAIN VIEW (dpa-AFX) - Google announced a new $600 million investment for the expansion of Mayes County data center. The tech giant had started the data center in 2007 and expanded three times already. The new investment will add 100 jobs to Pryor community, Google CEO Sundar Pichai said during the announcement. In a blog post Pichai said, 'This network is what powers your searches, your email, all of the photos you store and treasure, and the maps that help you find the fastest way home. And that network includes 13 locations around the world, with new data centers underway in eight additional locations.'The total investment in Oklahoma will be over $3 billion now with the creation of more than 500 jobs. Across the U.S., Google plans to invest $13 billion for data centers.Google also announced its largest ever education grant of $6 million for computer science education in 4-H chapters across U.S. The grant will be useful for young people in Oklahoma and 25 other states will get access to curriculum, training, and devices to learn and grow their coding skills.Copyright RTT News/dpa-AFX
14.06.2019

Google Investing Another $600 Mln To Expand Oklahoma Data Center

MOUNTAIN VIEW (dpa-AFX) - Google announced a new $600 million investment for the expansion of Mayes County data center. The tech giant had started the data center in 2007 and expanded three times already. The new investment will add 100 jobs to Pryor community, Google CEO Sundar Pichai said during the announcement. In a blog post Pichai said, 'This network is what powers your searches, your email, all of the photos you store and treasure, and the maps that help you find the fastest way home. And that network includes 13 locations around the world, with new data centers underway in eight additional locations.'The total investment in Oklahoma will be over $3 billion now with the creation of more than 500 jobs. Across the U.S., Google plans to invest $13 billion for data centers.Google also announced its largest ever education grant of $6 million for computer science education in 4-H chapters across U.S. The grant will be useful for young people in Oklahoma and 25 other states will get access to curriculum, training, and devices to learn and grow their coding skills.Copyright RTT News/dpa-AFX
14.06.2019

Nordson Names Sundaram Nagarajan To Succeed Michael Hilton As President And CEO

WASHINGTON (dpa-AFX) - Nordson Corp. (NDSN) announced Friday the appointment of Sundaram Nagarajan as the new president and chief executive officer, effective August 1, 2019. Nagarajan succeeds Michael Hilton, who previously announced his plans to retire.After Nagarajan joins the company, Hilton will become Senior Advisor to the Company and remain on the board of directors until he retires on December 31, 2019.Nagarajan joins Nordson following a 23-year career with Illinois Tool Works Inc. (ITW), a Fortune 200 company. He is currently the Executive Vice President, Automotive OEM Segment, for ITW, a $3.3 billion business segment.Nagarajan started his career in 1991 at Hobart Brothers where he was engaged in the design and development of welding consumables. The company was acquired by ITW in 1996.Copyright RTT News/dpa-AFX
14.06.2019

Rolls-Royce: Indra Intends To Acquire Majority Stake In ITP Aero

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Rolls-Royce Holdings plc (RYCEF.PK, RR.L, RYCEY.PK) has received a preliminary indication of interest from Indra to acquire a majority stake in ITP Aero. The indication of interest is subject to a number of conditions. Rolls-Royce said it intends to retain a long-term relationship with ITP Aero across its Civil Aerospace and Defence programmes. ITP Aero is the ninth largest aeronautical engine and components company in the world. It was founded by Rolls-Royce and SENER in 1989. In 2017, Rolls-Royce acquired outstanding 53.1% shareholding in ITP owned by SENER.Copyright RTT News/dpa-AFX
14.06.2019

King Arthur Flour Recalls Specific Lots Of Flour For Health Risk

WASHINGTON (dpa-AFX) - King Arthur Flour, Inc. voluntarily recalled certain lots of 5 lb. Unbleached All-Purpose Flour due to the potential presence of Escherichia coli bacteria (E. coli), The U.S. Food and Drug Administration (FDA) stated.The company announced it is recalling 14,218 cases of the potentially affected lots that were distributed through retailers and distributors nationwide. These were of six specific lot codes and three Best Used By dates - LOT: L18A07C with best used by date of 12/07/19, LOTs: L18A08A and L18A08B with best used by date of 12/08/19, and LOTs: L18A14A, L18A14B, and L18A14C with best used by date of 12/14/19.The recall does not involve products sold through its website, Baker's Catalogue, the Baker's Store in Norwich, or the Baking School in Burlington.E. coli infection displays varied symptoms among people, but mostly include severe stomach cramps, bloody diarrhea, and vomiting. People usually get sick three to four days after swallowing the germ, and most recover within a week. However, some people may develop a serious type of illness called hemolytic uremic syndrome (HUS), which can cause kidney failure, stroke, and even death.ADM Milling, the milling division of Archer Daniels Midland Co. (ADM), informed King Arthur that that certain wheat used to make these lots has caused the E. coli contamination of the All-Purpose Flour. However, No illnesses have been reported to date.The company has asked the customers who bought these products to either throw them away or return it to the store for refund.This makes King Arthur Flour the second flour brand to be recalled in the past few weeks after Aldi's Baker's Corner, which has been packaged for them by ADM Milling. On May 23, ADM Milling had announced the recall of five-pound bags of Baker's Corner All Purpose Flour, packaged for Aldi, because of a possible presence of E.coli. This was detected during testing of the five-pound bags by the Rhode Island Department of Health. The E.coli strain found in the bag has been linked to 17 illness in eight states.ADM Milling is working directly with Aldi, which has already recalled all potentially impacted products from store shelves in the region. Aldi also recalled all other ADM retail flour products packaged for Aldi in the region as a precaution.Copyright RTT News/dpa-AFX
14.06.2019

Regeneron Announces Positive Early-stage Data For REGN1979

WASHINGTON (dpa-AFX) - Biotechnology company Regeneron Pharmaceuticals, Inc. (REGN) announced Friday positive early-stage data for REGN1979 in patients with relapsed or refractory (R/R) B-cell non-Hodgkin lymphoma (B-NHL).The emerging data, which includes patients with R/R diffuse large B-cell lymphoma (DLBCL) who had progressed after CAR-T therapy, will be presented tomorrow at the 24th Congress of the European Hematology Association (EHA).REGN1979 is an investigational bispecific monoclonal antibody and is designed to trigger tumor killing by binding to both a B-cell tumor protein (CD20) and an immune system T-cell receptor (CD3).The company observed continued high response rates with REGN1979 in both relapsed or refractory diffuse large B-cell lymphoma and follicular lymphoma, cancers with typically poor outcomes.The primary objective of the trial was to assess the safety, tolerability and dose-limiting toxicities of REGN1979. Secondary objectives included an evaluation of the pharmacokinetics, immunogenicity and antitumor activity of REGN1979. In the trial, there were no dose-limiting toxicities.The overall response rate was 93% (13 of 14 patients) in those who received doses of REGN1979 5 mg to 320 mg, with a complete response rate of 71% (10 of 14 patients), in patients with R/R follicular lymphoma (FL) grades 1 to 3a.There was also 57% (4 of 7 patients) overall response rate in patients with R/R DLBCL treated with REGN1979 80 mg to 160 mg, with all responses ongoing. These included 2 complete responses in 4 patients whose disease had progressed after CAR-T treatment.In this trial, two patients who failed CAR-T therapy and received REGN1979 80 mg achieved complete responses. There is currently no approved therapy for patients who progress on CAR-Ts.REGN1979 was granted orphan drug designation by the U.S. Food and Drug Administration (FDA) for the treatment of DLBCL in 2017. It was invented by Regeneron using its proprietary VelocImmune technology and proprietary Veloci-Bi bispecific platform.Copyright RTT News/dpa-AFX
14.06.2019

CropEnergies AG Prelim. Q1 Operating Profit Rises

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - CropEnergies AG said, based on preliminary data, its first-quarter operating profit was significantly higher year-on-year due to recovered ethanol prices. The company also issued a more precise forecast for the current fiscal year. First-quarter operating profit was at 15.2 million euros compared to 4.6 million euros, previous year. EBITDA increased to 25.8 million euros from 14.3 million euros. Revenues increased to 203 million euros from 192 million euros, a year ago. For the current fiscal year, the company projects: revenues in a range of 820 million euros to 900 million euros, operating profit of 30 million euros to 70 million euros, and an EBITDA of 70 million euros to 115 million euros. CropEnergies AG, the member of the Südzucker Group (SUEZF.PK), is the leading European manufacturer of sustainably produced ethanol. It is listed at the regulated market at the Frankfurt Stock Exchange.Copyright RTT News/dpa-AFX
14.06.2019

U.S. Stocks Stage Late-Day Recovery Attempt But Still Close Mostly Lower

WASHINGTON (dpa-AFX) - Stocks staged a late-day recovery attempt but still ended Friday's trading mostly lower following an early move to the downside. The major averages gave back some ground after ending the previous session in positive territory.The tech-heavy Nasdaq underperformed its counterparts, ending the session down 40.47 points or 0.5 percent at 7,796.66. The Dow edged down 17.16 points or 0.1 percent to 26,089.61 and the S&P 500 dipped 4.66 points or 0.2 percent to 2,886.98.Despite the pullback on the day, the major averages all moved higher for the week. The Nasdaq advanced by 0.7 percent, while the Dow and the S&P 500 rose by 0.4 percent and 0.5 percent, respectively.Tech stocks came under pressure after Broadcom (AVGO) reported better than expected fiscal second quarter earnings but lowered its full-year revenue guidance.Broadcom President and CEO Hock Tan said the chip maker sees a 'broad-based slowdown in the demand environment' due to continued geopolitical uncertainties and the effects of export restrictions on Chinese tech giant Huawei.The comments from Tan led to renewed concerns about the impact of the U.S.-China trade dispute on the broader tech sector.Traders were also digesting a Commerce Department report showing a substantial upward revision to retail sales data for April.The Commerce Department said retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.Closely watched core retail sales, which exclude autos, gasoline, building materials and food services, climbed by 0.5 percent in May. The April reading was upwardly revised from no change to a 0.4 percent gain.FTN Financial chief economist Chris Low called the April revisions the 'real story' of the report, noting the 'trajectory of second quarter consumption just transformed from ho-hum to solid.''Needless to say, this is important,' Low said. 'The collapse of consumption in Q1 and failure of consumption to recover in April was one of the most compelling reasons justifying an interest rate cut.' 'There are still other reasons, of course. Business confidence has tumbled. Business investment has slowed. Manufacturing is in trouble,' he added. 'But consumers, it seems, are alright, which means the risk of recession is diminished.'The Federal Reserve also released a report showing a bigger than expected increase in industrial production in May, although the University of Michigan said its reading on consumer sentiment dropped in June amid concerns about higher tariffs.Sector NewsDespite the late-day recovery attempt by the broader markets, substantial weakness remained visible among oil service stocks. After spiking by 3.7 percent on Thursday, the Philadelphia Oil Service Index plunged by 3.7 percent.The pullback by oil service stocks came even though the price of crude oil extended the upward move seen in the previous session, with crude for July delivery rising $0.23 to $52.51 a barrel.Semiconductor stocks also moved sharply on the day, dragging the Philadelphia Semiconductor Index down by 2.6 percent. Broadcom led the sector lower, tumbling by 5.6 percent.Steel, tobacco and networking stocks also saw considerable weakness on the day, while gold stocks showed a notable move to the upside.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index rose by 0.4 percent, while China's Shanghai Composite Index slumped by 1 percent.Meanwhile, the major European markets all moved to the downside on the day. While the German DAX Index slid by 0.6 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index dipped by 0.3 percent and 0.2 percent, respectively.In the bond market, treasuries showed a lack of direction throughout the session before closing roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.093 percent.Looking AheadNext week's trading is likely to be driven by reaction to the announcement of the Federal Reserve's monetary policy decision on Wednesday.Most economists expect the Fed to leave interest rates unchanged, although the central bank is expected to provide indications that it is considering lowering rates in the near future.The Fed decision is likely to overshadow some ordinarily closely watched housing data, including reports on homebuilder confidence, housing starts, and existing home sales.Copyright RTT News/dpa-AFX
14.06.2019

Swiss Market Closes Marginally Lower

BRUSSELS (dpa-AFX) - The Swiss stock market ended marginally lower on Friday, after staying in the red almost right through the session, with investors taking some profits after the benchmark recorded a new high earlier this week. The SMI index ended lower by 14.22 points, or 0.14%, at 9,847.61, after swinging between 9,808.53 and 9,861.76. The index had hit a life-time high of 9,906.77 on Thursday.ABB, which shed more than 2%, was the biggest loser in the SMI index. Swatch Group, UBS Group, Alcon and Lonza Group ended lower by 1 to 1.25%.Credit Suisse, LafargeHolcim, SGS, Sika and Swisscom also closed weak.Adecco shares moved up 1.85%. Novartis, Givaudan, Nestle and Swiss Life Holding finished modestly higher. Swiss RE has confirmed that it wants to float its $4.5 billion UK life assurance business ReAssure and expects to complete a listing on the London Stock Exchange in July. Swiss RE shares edged down marginally in today's session.Shares of AMS plunged more than 7.5% after U.S. chipmaker Broadcom slashed its revenue guidance for the full fiscal year, citing the impact of export restrictions on Huawei.Most of the markets in Europe closed lower today amid rising concerns over geopolitical tensions and global economic slowdown due to the ongoing trade war between the U.S. and China.A report showing China's industrial output growth to have slowed to a more than 17-year low of 5% in May hurt sentiment.The pan European Stoxx 600 ended down 0.4%. Among the major markets in Europe, Germany ended notably lower with the DAX falling 0.6%. The U.K.'s FTSE 100 and France's CAC 40 ended lower by 0.31% and 0.15%, respectively.Copyright RTT News/dpa-AFX
14.06.2019

European Markets Close Lower On Economic Concerns, Geopolitical Tensions

CANBERA (dpa-AFX) - European markets ended lower on Friday, as rising concerns about geopolitical tensions and economic slowdown rendered the mood bullish. Markets were also weighed down by a downward revision in full-year guidance from Broadcom and IEA's note about a lower estimate for global oil demand growth due to trade concerns and fears of a global recession.The pan European Stoxx 600 ended down 0.4%. Among the major markets in Europe, Germany ended notably lower with the DAX falling 0.6%. The U.K.'s FTSE 100 and France's CAC 40 ended lower by 0.31% and 0.15%, respectively. Switzerland's SMI edged down by 0.14%.Among other markets in Europe, Sweden, Spain, Russia, Portugal, Poland, Netherlands, Ireland, Greece, Finland, Austria, Denmark and Belgium ended lower.Technology stocks were the most prominent losers in Europe after U.S. chipmaker Broadcom slashed its revenue guidance for the full fiscal year, citing the impact of export restrictions on Huawei. Infineon, AMS and STMicroelectronics ended with sharp losses.Automobile stocks BMW, Daimler, Volkswagen, Renault and Peugeot also traded weak.Shares of construction company Kier Group plunged on reports the company is preparing to sell its housebuilding unit for a lower-than-expected price.ArcelorMittal, Capgemini, Thyssenkrupp, ITV, Provident Financial and Tesco were among the other notable losers in Friday's session.In European economic news, Italy's inflation slowed more than initially estimated to a 13-month low in May.Inflation in France and Portugal slowed as well, while Sweden's consumer price inflation rose to the highest level in seven months at a faster-than-expected rate in May.In Asian economic news, China's industrial output growth slowed to a more than 17-year low of 5% in May amid an escalating trade war with the United States, a government report showed.Copyright RTT News/dpa-AFX
14.06.2019

Tech-Heavy Nasdaq Continues To Underperform

WASHINGTON (dpa-AFX) - After moving to the downside early in the session, stocks continue to see modest weakness in mid-day trading on Friday. While selling pressure has been relatively subdued, the major averages remain stuck in negative territory.Currently, the tech-heavy Nasdaq continues to underperform its counterparts. The Nasdaq is down 47.64 points or 0.6 percent at 7,789.19, while the Dow is down 50.90 points or 0.2 percent at 26,055.87 and the S&P 500 is down 9.24 points or 0.3 percent at 2,882.40.Tech stocks have come under pressure after Broadcom reported better than expected fiscal second quarter earnings but lowered its full-year revenue guidance.Broadcom President and CEO Hock Tan said the chip maker sees a 'broad-based slowdown in the demand environment' due to continued geopolitical uncertainties and the effects of export restrictions on Chinese tech giant Huawei.The comments from Tan have led to renewed concerns about the impact of the U.S.-China trade dispute on the broader tech sector.Traders are also digesting a Commerce Department report showing a substantial upward revision to retail sales data for April.The Commerce Department said retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.Closely watched core retail sales, which exclude autos, gasoline, building materials and food services, climbed by 0.5 percent in May. The April reading was upwardly revised from no change to a 0.4 percent gain.FTN Financial chief economist Chris Low called the April revisions the 'real story' of the report, noting the 'trajectory of second quarter consumption just transformed from ho-hum to solid.''Needless to say, this is important,' Low said. 'The collapse of consumption in Q1 and failure of consumption to recover in April was one of the most compelling reasons justifying an interest rate cut.' 'There are still other reasons, of course. Business confidence has tumbled. Business investment has slowed. Manufacturing is in trouble,' he added. 'But consumers, it seems, are alright, which means the risk of recession is diminished.'The Federal Reserve also released a report showing a bigger than expected increase in industrial production in May, although the University of Michigan said its reading on consumer sentiment dropped in June amid concerns about higher tariffs.Sector NewsOil service stocks have shown a substantial move to the downside on the day, dragging the Philadelphia Oil Service Index down by 3.4 percent. The index is pulling back after spiking by 3.7 percent on Thursday.The pullback by oil service comes even though the price of crude oil is extending the upward move seen in the previous session, with crude for July delivery climbing $0.55 to $52.83 a barrel.Significant weakness also remains visible among semiconductor stocks, as reflected by the 2.8 percent slump by the Philadelphia Semiconductor Index. Broadcom has led the sector lower, plunging by 6.5 percent.Tobacco, steel, and networking stocks are also seeing considerable weakness on the day, while gold stocks are moving higher along with the price of the precious metal.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index rose by 0.4 percent, while China's Shanghai Composite Index slumped by 1 percent.Meanwhile, the major European markets all moved to the downside on the day. While the German DAX Index slid by 0.6 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index dipped by 0.3 percent and 0.2 percent, respectively.In the bond market, treasuries have shown a lack of direction over the course of the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by less than a basis point at 2.084 percent.Copyright RTT News/dpa-AFX
14.06.2019

Tech Stocks Under Pressure On Troubling Forecast From Broadcom

WASHINGTON (dpa-AFX) - Stocks have moved moderately lower in morning trading on Friday, partly offsetting the strength seen in the previous session. Selling pressure has remained somewhat subdued, however, limiting the downside for the major averages.Currently, the major averages are all in negative territory, with the tech-heavy Nasdaq posting a slightly steeper loss. While the Nasdaq is down 37.74 points or 0.5 percent at 7,799.39, the Dow is down 47.44 points or 0.2 percent at 26,059.33 and the S&P 500 is down 7.56 points or 0.3 percent at 2,884.08.Tech stocks have come under pressure after Broadcom reported better than expected fiscal second quarter earnings but lowered its full-year revenue guidance.Broadcom President and CEO Hock Tan said the chip maker sees a 'broad-based slowdown in the demand environment' due to continued geopolitical uncertainties and the effects of export restrictions on Chinese tech giant Huawei.The comments from Tan have led to renewed concerns about the impact of the U.S.-China trade dispute on the broader tech sector.Traders are also digesting a Commerce Department report showing a substantial upward revision to retail sales data for April.The Commerce Department said retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.Closely watched core retail sales, which exclude autos, gasoline, building materials and food services, climbed by 0.5 percent in May. The April reading was upwardly revised from no change to a 0.4 percent gain.FTN Financial chief economist Chris Low called the April revisions the 'real story' of the report, noting the 'trajectory of second quarter consumption just transformed from ho-hum to solid.''Needless to say, this is important,' Low said. 'The collapse of consumption in Q1 and failure of consumption to recover in April was one of the most compelling reasons justifying an interest rate cut.' 'There are still other reasons, of course. Business confidence has tumbled. Business investment has slowed. Manufacturing is in trouble,' he added. 'But consumers, it seems, are alright, which means the risk of recession is diminished.'The Federal Reserve also released a report showing a bigger than expected increase in industrial production in May, although the University of Michigan said its reading on consumer sentiment dropped in June amid concerns about higher tariffs.Semiconductor stocks are seeing substantial weakness on the heels of the warning from Broadcom, as reflected by the 2.7 percent nosedive by the Philadelphia Semiconductor Index.Considerable weakness has also emerged among oil service stocks, with the Philadelphia Oil Service Index slumping by 2.4 percent.Steel, networking, and tobacco stocks are also seeing notable weakness, while gold stocks are seeing some strength amid an increase by the price of the precious metal.In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index rose by 0.4 percent, while China's Shanghai Composite Index slumped by 1 percent.Meanwhile, the major European markets have all moved to the downside on the day. While the German DAX Index has slumped by 0.9 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index are both down by 0.4 percent.In the bond market, treasuries have shown a lack of direction over the course of the morning. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by less than a basis point at 2.084 percent.Copyright RTT News/dpa-AFX
14.06.2019

Troubling Forecast From Broadcom May Weigh On Wall Street

WASHINGTON (dpa-AFX) - A pullback by technology stocks may contribute to initial weakness on Wall Street following a troubling forecast from chipmaker Broadcom (AVGO). The tech-heavy Nasdaq futures are currently down by 49 points, while the Dow futures are showing a more modest 36-point drop.Tech stocks may come under pressure after Broadcom reported better than expected fiscal second quarter earnings but lowered its full-year revenue guidance.Broadcom President and CEO Hock Tan said the chip maker sees a 'broad-based slowdown in the demand environment' due to continued geopolitical uncertainties and the effects of export restrictions on Chinese tech giant Huawei.The comments from Tan are likely to reignite concerns about the impact of the U.S.-China trade dispute on the broader tech sector.Trading may also be impacted by reaction to a report from the Commerce Department showing slightly weaker than expected retail sales growth in May but a substantial upward revision to the retail sales data for April.The Commerce Department said retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.Excluding a rebound in sales by motor vehicle and parts dealers, retail sales still rose by 0.5 percent in May, matching the upwardly revised increase in April.Ex-auto sales had been expected to rise by 0.3 percent compared to the 0.1 percent uptick originally reported for the previous month.The data paints a positive picture of the economy but may offset some of the recent optimism about a near-term interest rate cut by the Federal Reserve.Shortly after the start of trading, The Federal Reserve is scheduled to release its report on industrial production in the month of May. Industrial production is expected to rise by 0.2 percent in May after falling by 0.5 percent in April.The University of Michigan is also due to release its preliminary report on consumer sentiment in the month of June. The consumer sentiment index is expected to edge down to 98.0 in June from 100.0 in May.Following the modest pullback seen over the two previous sessions, stocks moved back to the upside during trading on Thursday. Buying interest was somewhat subdued, although the major averages all ended the day in positive territory.The major averages jumped going into the close of trading but remained off their highs of the session. The Dow rose 101.94 points or 0.4 percent to 26,106.77, the Nasdaq advanced 44.41 points or 0.6 percent to 7,837.13 and the S&P 500 climbed 11.80 points or 0.4 percent to 2,891.64.In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index rose by 0.4 percent, while China's Shanghai Composite Index slumped by 1 percent.Meanwhile, the major European markets have all moved to the downside on the day. While the French CAC 40 Index has slipped by 0.4 percent, the U.K.'s FTSE 100 Index and the German DAX Index are down by 0.5 percent and 0.7 percent, respectively.In commodities trading, crude oil futures are edging down $0.08 to $52.20 a barrel after jumping $1.14 to $52.28 a barrel on Thursday. Meanwhile, after climbing $6.90 to $1,343.70 an ounce in the previous session, gold futures are surging up $12.80 to $1,356.50 an ounce. On the currency front, the U.S. dollar is trading at 108.36 yen versus the 108.38 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1245 compared to yesterday's $1.1276.Copyright RTT News/dpa-AFX
14.06.2019

Wall Street Aims To Open In Negative Territory

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Trading on Friday might be impacted by economic announcements such as Retail Sales for May, Fed's Industrial Production report as well as Business Inventories for April. Investors are closely monitoring U.S.-China trade situation and increasing tensions in Gulf of Iran. The early trading on U.S. Futures Index suggest that Wall Street might open lower. Asian shares finished mostly in the red, while European shares are trading lower. As of 7.40 am ET, the Dow futures were down 37.00 points, the S&P 500 futures were declining 4.00 points and the Nasdaq 100 futures were losing 13.50 points. U.S. stocks closed higher on Thursday. The Dow rose 101.94 points or 0.4 percent to 26,106.77, the Nasdaq advanced 44.41 points or 0.6 percent to 7,837.13 and the S&P 500 climbed 11.80 points or 0.4 percent to 2,891.64.On the economic front, Retail Sales for May will be published at 8.30 am ET. The consensus is for an increase of 0.7 percent, while it declined 0.2 percent in the prior month. Fed's Industrial Production report for May will be issued at 9.15 am ET. The consensus is for an increase of 0.2 percent, while it slipped 0.5 percent in April. The Commerce Department's Business Inventories for April will be released at 10.00 am ET. The consensus is for an increase of 0.5 percent. The Institute for Social Research of the University of Michigan's Consumer Sentiment for June will be revealed at 10.00 am ET. The consensus is for 98.4, slightly down from 100 in the prior month. Baker-Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North American Rig Count were 1078 and U.S. Rig Count were 975. Asian stocks ended Friday's session on a broadly lower note. China's Shanghai Composite index gave up early gains to end the session down 28.77 points or 0.99 percent at 2,881.97 while Hong Kong's Hang Seng index dropped 0.65 percent to 27,118.35.Government data showed that China's industrial output grew at a slower pace, while growth in retail sales improved more-than-expected in May.Japanese markets rose.The Nikkei average rose 84.89 points or 0.40 percent to 21,116.89, taking the weekly gain to 1.1 percent. The broader Topix index closed 0.34 percent higher at 1,546.71.Australian markets fluctuated before ending modestly higher. The benchmark S&P/ASX 200 inched up 11.60 points or 0.18 percent to 6,554 while the broader All Ordinaries index ended up 14.50 points or 0.22 percent at 6,633.60.European shares are trading in the red. France's CAC 40 is declining 29.70 points or 0.55 percent. Germany's DAX is down 110.38 points or 0.91 percent. FTSE 100 of U.K. is lowering by 44.84 points or 0.61 percent. Swiss Market Index down37.67 points or 0.38 percent. Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 0.71 percent.Copyright RTT News/dpa-AFX
14.06.2019

European Shares Slide As Appetite Wanes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell on Friday as renewed trade tensions, underwhelming Chinese industrial output data and worries of a potential military confrontation in the Middle East dented risk appetite. China's industrial output growth slowed to a more than 17-year low of 5 percent in May amid an escalating trade war with the United States, a government report showed.The pan European Stoxx 600 was down 0.4 percent at 378.72 after rising 0.2 percent in the previous session.The German DAX was losing 0.6 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were down around 0.2 percent. Technology shares were moving lower after U.S. chipmaker Broadcom slashed its revenue guidance for the full fiscal year, citing the impact of export restrictions on Huawei. Infineon, AMS and STMicroelectronics lost 5-6 percent. German automaker Volkswagen shed half a percent on saying it is close to reaching a deal with Ford Motor on autonomous and electric vehicles.Rivals BMW, Daimler, Peugeot and Renault were also moving lower. Reuters reported that the U.S. has denied requests by Tesla, General Motors Co. and Uber for waving 25 percent tariffs related to Chinese products.Kier Group shares plunged 16 percent in London after reports that the builder is preparing to sell its housebuilding unit for a lower-than-expected price.Precious metals mining company Fresnillo rallied 2.3 percent as gold jumped more than 1 percent to surpass the key $1,350 level for the first time since April last year.SThree plc jumped 2.8 percent. The specialist staffing company said the Group's performance in the first half of the year was in line with management expectations.Copyright RTT News/dpa-AFX
14.06.2019

FTSE 100 Modestly Lower In Cautious Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were moving lower on Friday, with underwhelming Chinese industrial output data and worries of a potential military confrontation in the Middle East weighing on markets. China's industrial output growth slowed to a more than 17-year low of 5 percent in May amid an escalating trade war with the United States, a government report showed.The British pound slipped after Boris Johnson finished well ahead of his rivals on Thursday in the first round of the party's leadership contest to replace Theresa May as the party's leader. The benchmark FTSE 100 was down 0.2 percent at 7,352 after closing marginally higher the previous day.Kier Group shares plunged 16 percent after reports that builder is preparing to sell its housebuilding unit for a lower-than-expected price.Miners were broadly lower, with BHP falling nearly 1 percent on global growth worries. Among financials, HSBC shed 0.6 percent and Prudential dropped 0.7 percent. Precious metals mining company Fresnillo rallied 2.3 percent as gold jumped more than 1 percent to surpass the key $1,350 level for the first time since April last year.SThree plc jumped 2.8 percent. The specialist staffing company said the Group's performance in the first half of the year was in line with management expectations.Copyright RTT News/dpa-AFX
14.06.2019

CAC 40 Slides On Growth Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were moving lower on Friday as rising tensions in the Middle East and weak industrial output data from China added to concerns over slowing global growth. China's industrial output growth slowed to a more than 17-year low of 5 percent in May amid an escalating trade war with the United States, a government report showed. Worries about Italy were also back on the radar for investors, with Eurogroup President Mario Centeno calling on the country to come in line with the EU's budget rules.The benchmark CAC 40 was down 15 points or 0.29 percent at 5,360 after closing marginally higher on Thursday. Automaker Renault dropped half a percent and Peugeot fell 1.3 percent. Reuters reported that the U.S. has denied requests by Tesla, General Motors Co. and Uber for waving 25 percent tariffs related to Chinese products.On the data front, France's consumer price inflation slowed at a faster-than-expected rate in May, data from the statistical office Insee showed. The consumer price index rose 0.9 percent year-on-year in May, slower than 1.3 percent in April. The flash estimate was 1.0 percent.Copyright RTT News/dpa-AFX
14.06.2019

NY FED 3Q19 NOWCAST GDP FORECAST +1.70%

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14.06.2019

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

WASHINGTON (dpa-AFX) - After reporting virtually no change in U.S. business inventories in the previous month, the Commerce Department released a report on Friday showing inventories increased in line with economist estimates in the month of April.The Commerce Department said business inventories climbed by 0.5 percent in April after coming in virtually unchanged in March, matching expectations.Wholesale inventories showed a notable 0.8 percent increase, while retail and manufacturing inventories rose by 0.5 percent and 0.3 percent, respectively.On the other hand, the report said business sales fell by 0.2 percent in April after soaring by 1.3 percent in the previous month. While retail sales rose by 0.3 percent, wholesale and manufacturing sales dropped by 0.4 percent and 0.5 percent, respectively.With inventories rising and sales falling, the total business inventories/sales ratio inched up to 1.39 in April from 1.38 in March.Copyright RTT News/dpa-AFX
14.06.2019

Russia Slashes Key Interest Rate, Signals More Easing

MOSCOW (dpa-AFX) - Russia's central bank cut the key interest rate for the first time in over a year in line with its earlier guidance, and hinted at more reduction in future amid slowing inflation and weaker growth. The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate by 25 basis points to 7.50 percent, the Bank of Russia said in a statement on Friday. The bank had kept the rate unchanged for three policy sessions in a row.The previous change in the rate was a quarter-point hike in December 2018. A similar size raise was undertaken in September last year, which was the first since 2014.The latest reduction was the first in over a year since a quarter-point reduction in March 2018. While annual inflation is slowing, expectations remain elevated, the bank said, adding that short-term pro-inflationary risks have abated compared to March.'The ruble's strengthening since the beginning of the year made an additional contribution to inflation slowdown,' Nabiullina said Inflation is estimated to have reached 5 percent in June from 5.1 percent in May.The central bank expects growth to remain below its expectations in the first half of the year. Citing these circumstances, the Bank of Russia trimmed the end-of-the-year annual inflation forecast for 2019 to 4.7-5.2 percent from 4.2-4.7 percent.The outlook was lowered as the pass-through of the VAT increase to prices has been completed and the relatively favorable external conditions and moderate domestic demand have been sustained.The bank continues to expect annual inflation to stay close to 4 percent. 'If the situation develops in line with the baseline forecast, the Bank of Russia admits the possibility of further key rate reduction at one of the upcoming Board of Directors' meetings and a transition to neutral monetary policy until mid-2020,' the bank said.'The revision of the interest rate paths by the US Fed and other central banks in advanced economies in 2019 H1 reduces the risks of persistent capital outflows from emerging markets,' the bank said.The central bank also cut its GDP growth forecast for 2019 to 1.0-1.5 percent from 1.2-1.7 percent. The bank expects the growth momentum to improve in coming years due to the implementation of national projects and reach 2-3 percent in 2021. ING economist Dmitry Dolgin said the the Bank of Russia has returned to an easing cycle with the latest reduction and could cut the key rate further by 50-100 basis points in the next 12 months. 'We now see high likelihood of a couple of cuts in July and September,' Dolgin said.'The longer term path appears less certain, given recent indications of an easing in budget policy from 2020.'Copyright RTT News/dpa-AFX
14.06.2019

U.S. Consumer Sentiment Deteriorates Amid Concerns About Higher Tariffs

WASHINGTON (dpa-AFX) - Consumer sentiment in the U.S. has deteriorated in the month of June, according to a report released by the University of Michigan on Friday, with the pullback in sentiment reflecting concerns about the impact of higher tariffs.The preliminary report said the consumer sentiment index fell to 97.9 in June from 100.0 in May, while economists had expected the index to dip to 98.0.'Some of the decline was due to expected tariffs on Mexican imports, which may be reversed in late June, but most of the concern was with the 25% tariffs on nearly half of all Chinese imports,' said Surveys of Consumers chief economist Richard Curtin.He added, 'Consumers responded by lowering growth prospects for the national economy, and as a consequence, reduced the expected gains in employment.'The decrease in consumer sentiment reflected a deterioration in expectations, with the index of consumer expectations tumbling to 88.6 in June from 93.5 in May.On the other hand, the report said the current economic conditions index climbed to 112.5 in June from 110.0 in the previous month.Inflation expectations showed a notable decline during the month, with one-year inflation expectations falling to 2.6 percent from 2.9 percent and five-year inflation expectations slumping to 2.2 percent from 2.6 percent.'Consumers anticipated an average long-term inflation rate of just 2.2%, the lowest rate the surveys have recorded since the question was introduced forty years ago,' Curtin said.Copyright RTT News/dpa-AFX
14.06.2019
14.06.2019

Dollar Rises On Strong Retail Sales Data

WASHINGTON (dpa-AFX) - Buoyed by data showing a jump in retail sales in the month of May, the U.S. dollar moved higher against most major currencies on Friday, even as traders continued to hope the Federal Reserve will cut interest rates this year.The Federal Reserve, which is scheduled to meet next week, is most likely to hold rates unchanged for now. Although some analysts are expecting a 25 basis points cut in rate, many are of the view that a cut is likely only in July.The dollar index rose to 97.58, the highest level since June 3, and stayed firm around that mark, gaining nearly 0.6% over previous close.The dollar was up nearly 0.6% against the euro, at $1.1209, rising from $1.1275 a unit of the EU currency.Against British Pound Sterling, the dollar was even more stronger, as it surged up 0.73% to $1.2581.The safe haven currency yen too exhibited weakness against the greenback, easing to 108.55 yen a dollar after opening at 108.37.Final data from the Ministry of Economy, Trade and Industry showed that Japan's industrial production rose 0.6% month-on-month in April, in line with estimate, reversing a 0.6% fall in March.The dollar was up sharply against the aussie, loonie and Swiss franc as well, with the respective currencies falling 0.67%, 0.62% and 0.5%, to 0.6869, 1.3410 and 0.9990.In U.S. economic news today, data from the Commerce Department showed that retail sales climbed by 0.5% in May after rising by an upwardly revised 0.3% in April. Economists had expected retail sales to increase by 0.6% compared to the 0.2% drop originally reported for the previous month.Excluding a rebound in sales by motor vehicle and parts dealers, retail sales still rose by 0.5% in May, matching the upwardly revised increase in April.A report from the Federal Reserve said U.S. industrial production rose by more than expected in the month of May, climbing by 0.4%, following a revised 0.4% decrease in April.Industrial production had been expected to edge up by 0.2% compared to the 0.5% drop originally reported for the previous month.A report from the University of Michigan said consumer sentiment in the U.S. has deteriorated in the month of June, reflecting concerns about the impact of higher tariffs.The preliminary report said the consumer sentiment index fell to 97.9 in June from 100.0 in May, while economists had expected the index to dip to 98.0.On the other hand, the report said the current economic conditions index climbed to 112.5 in June from 110.0 in the previous month.Meanwhile, data released by the Commerce Department showed business inventories climbed by 0.5% in April after coming in virtually unchanged in March, matching expectations.Wholesale inventories showed a notable 0.8% increase, while retail and manufacturing inventories rose by 0.5% and 0.3%, respectively.Copyright RTT News/dpa-AFX
14.06.2019

Dollar Little Changed Following U.S. Consumer Sentiment Index

BRUSSELS (dpa-AFX) - Following the release of the University of Michigan's preliminary consumer sentiment index for June at 10:00 am ET Friday, the greenback changed little against its major counterparts.The greenback was trading at 108.33 against the yen, 0.9965 against the franc, 1.1245 against the euro and 1.2623 against the pound around 10:01 am ET.Copyright RTT News/dpa-AFX
14.06.2019

Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

BRUSSELS (dpa-AFX) - The University of Michigan's preliminary consumer sentiment index for June is set for release at 10:00 am ET Friday. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback rose against the franc and the yen, it was steady against the pound and the euro.The greenback was worth 108.35 against the yen, 0.9965 against the franc, 1.1241 against the euro and 1.2622 against the pound as of 9:55 am ET.Copyright RTT News/dpa-AFX
14.06.2019

Strong U.S. Retail Sales Growth Buoys Dollar

CANBERA (dpa-AFX) - The U.S. dollar was notably higher against its major opponents in the European session on Friday, as a data showed that nation's retail sales growth improved in May, reducing some of fears about a slowdown in economic growth.Data from the Commerce Department showed that retail sales climbed by 0.5 percent in May after rising by an upwardly revised 0.3 percent in April.Economists had expected retail sales to increase by 0.6 percent compared to the 0.2 percent drop originally reported for the previous month.Excluding a rebound in sales by motor vehicle and parts dealers, retail sales still rose by 0.5 percent in May, matching the upwardly revised increase in April.Ex-auto sales had been expected to rise by 0.3 percent compared to the 0.1 percent uptick originally reported for the previous month.Investors await a two-day policy meeting by the Federal Reserve next week, which warp up with a decision on Wednesday.The press conference by Fed Chair Jerome Powell is likely to grab attention for clues about rate cut amid slowing global growth due to rising trade tensions with China.The currency was steady against its major counterparts in the Asian session.The greenback advanced to 1.2624 against the pound, its biggest since June 3. The greenback may test resistance around the 1.24 level, if it rises again. The greenback that ended Thursday's trading at 1.1276 against the euro spiked up to an 8-day high of 1.1240. The currency is seen finding resistance around the 1.10 region.Data from Destatis showed that Germany's wholesale price inflation slowed in May after accelerating in April. Wholesale prices advanced 1.6 percent year-on-year in May, slower than the April's 2.1 percent increase. Having dropped to a session's low of 108.16 against the yen at 3:30 am ET, the greenback reversed direction and rose to 108.45. The greenback is poised to find resistance around the 111.00 region. Final data from the Ministry of Economy, Trade and Industry showed that Japan's industrial production grew moderately in April, as initially estimated.Industrial production rose 0.6 percent month-on-month in April, in line with estimate, reversing a 0.6 percent fall in March.The U.S. currency firmed to an 11-day high of 0.9979 against the franc, up from Thursday's closing value of 0.9938. The greenback is likely to find resistance around the 1.01 region. The greenback appreciated to a 2-week high of 0.6513 against the kiwi and a 3-week high of 0.6884 against the aussie, compared to yesterday's closing values of 0.6567 and 0.6915, respectively. On the upside, 0.64 and 0.67 are likely seen as the next resistance levels for the greenback against the kiwi and the aussie, respectively.The American unit reached as high as 1.3355 against the loonie, setting a weekly high. At yesterday's close, the pair was worth 1.3326. Should the greenback rises further, 1.35 is likely seen as its next resistance level.The University of Michigan's preliminary consumer sentiment index for June is set for release shortly.Copyright RTT News/dpa-AFX
14.06.2019

Dollar Climbs Following U.S. Retail Sales

BRUSSELS (dpa-AFX) - After the release of U.S. retail sales for May at 8:30 am ET Friday, the greenback advanced against its major counterparts.The greenback was trading at 108.35 against the yen, 0.9967 against the franc, 1.1252 against the euro and 1.2631 against the pound around 8:31 am ET.Copyright RTT News/dpa-AFX
14.06.2019

Dollar Steady Ahead Of U.S. Retail Sales

BRUSSELS (dpa-AFX) - The U.S. retail sales for May are due at 8:30 am ET Friday. Ahead of the data, the greenback held steady against its major counterparts.The greenback was worth 108.21 against the yen, 0.9952 against the franc, 1.1265 against the euro and 1.2651 against the pound as of 8:25 am ET.Copyright RTT News/dpa-AFX
14.06.2019

Russian Ruble At More Than 3-week High Versus Dollar After Russia Decision

MOSCOW (dpa-AFX) - The Russian Ruble gained ground against the U.S. dollar in the European session on Friday, after Russia's central bank cut the key interest rate, after leaving it unchanged for three policy sessions in a row and hinted at more reduction in future. The Board of Directors decided to cut the key rate by 25 basis points to 7.50 percent, the Bank of Russia said in a statement.While annual inflation is slowing, expectations remain elevated, the bank said. However, short-term pro-inflationary risks have abated compared to March, the bank added.The Russian Ruble appreciated to more than 3-week high of 64.27 against the greenback, compared to Thursday's closing value of 64.55. The Ruble is likely to find resistance around the 61.00 level.Copyright RTT News/dpa-AFX
14.06.2019

Yen Advances Amid Middle East Tensions, Trade Worries

CANBERA (dpa-AFX) - The Japanese yen climbed against its major opponents in early European deals on Friday, as worries about rising tensions in the Middle East and persistent trade tensions between the U.S. and China dampened risk sentiment.The U.S. blamed Iran for the attacks in the Gulf of Oman and said it will defend its forces and interests in the Middle East.Trade tensions intensified after U.S. President Donald Trump said that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five 'major points' which he did not specify. Oil prices declined in Asian trading after the U.S. Energy Information Administration cut its forecasts for 2019 world oil demand.China's consumer inflation hit a 15-month high in May, but factory gate inflation slowed in May amid sluggish commodity demand and faltering manufacturing activity, reinforcing economic growth worries.The currency traded mixed against its major counterparts in the Asian session. While it rose against the pound and the franc, it held steady against the greenback and the euro.The yen edged higher to a session's high of 108.16 versus the greenback, from a low of 108.40 hit at 8:45 pm ET. The next possible resistance for the yen is seen around the 106.00 level. The yen climbed to 8-day highs of 108.72 against the franc and 121.97 against the euro, off its early lows of 109.12 and 122.27, respectively. The yen is seen finding resistance around 107.00 against the franc and 119.00 against the euro.The yen advanced to a 10-day high of 136.95 versus the pound, following a decline to 137.42 at 6:45 pm ET. If the yen rises further, 134.00 is possibly seen as its next resistance level.Reversing from its early lows of 81.33 against the loonie, 71.22 against the kiwi and 74.97 against the aussie, the yen firmed to a weekly high of 81.05, 11-day high of 70.70 and a 6-1/2-month high of 74.60, respectively. The yen is poised to find resistance around 78.5 against the loonie, 69.00 against the kiwi and 73.5 against the aussie.Looking ahead, U.S. retail sales and industrial production for May, business inventories for April and University of Michigan's preliminary consumer sentiment index for June are set for release in the New York session.Copyright RTT News/dpa-AFX
13.06.2019

Dollar Moves In Tight Range Amid Cautious Moves

WASHINGTON (dpa-AFX) - The U.S. dollar moved in a tight range on Thursday, with traders largely making cautious moves, looking ahead to next week's Federal Reserve meeting.Against other major currencies, the greenback exhibited a mixed trend today, with economic data and other news from respective regions providing direction.Tame inflation data and report showing bigger than expected declines in import and export prices have raised hopes that the Fed will cut interest rates sometime soon. The Labor Department said import prices fell by 0.3% in May following a revised 0.1% uptick in April.Economists had expected import prices to dip by 0.2% compared to the 0.2% increase originally reported for the previous month.Additionally, the report said export prices edged down by 0.2% in May after inching up by a revised 0.1% in April.Export prices had been expected to slip by 0.1% compared to the 0.2% growth originally reported for the previous month.With the bigger than expected monthly decreases, import and export prices both showed their biggest annual declines in over two years.Meanwhile, a separate report from the Labor Department said first-time claims for U.S. unemployment benefits unexpectedly edged higher in the week ended June 8th, rising to 222,000, up 3,000 from the previous week's revised level of 219,000.Economists had expected jobless claims to edge down to 216,000 from the 218,000 originally reported for the previous week.The dollar index rose to 97.08 from an early low 96.87, and was last seen moving around 97.05, up marginally from previous close.Against the euro, the dollar was up 0.13% at $1.1274.The pound sterling was down 0.12% at $1.2675 and the Yen was gaining 0.11%, at 108.38 a dollar.The greenback was up against the aussie, with the Aussie-dollar pair trading at 0.6913.Against the loonie, the dollar was down 0.07% at 1.333, and against Swiss franc, it was down 0.13% at 0.9942. The Swiss franc advanced against rivals after the Swiss National Bank left its expansionary monetary policy unchanged and pledged to intervene in forex market as required to contain the excessive strength of the currency arising from political uncertainty and trade tensions.Copyright RTT News/dpa-AFX
13.06.2019

Pound Bounces Off As Boris Johnson Wins First Round Of Tory Leadership Contest

BRUSSELS (dpa-AFX) - The pound trimmed its early losses against its major counterparts in early New York deals on Thursday, as Boris Johnson won the first round of U.K. leadership election, clearing a hurdle to become next Tory leader and Prime Minister.In the secret ballot held in the House of Commons, Johnson got 114 votes in the first round, where the party's 313 MPs have voted in.Jeremy Hunt came second with 43 votes, followed by Michael Gove with 37 votes.The next round of contest is scheduled on June 18.Survey by the Royal Institution of Chartered Surveyors showed that UK house prices increased in May as the delay in Brexit helped to curb continuous fall in prices. The house price balance rose more-than-expected to -10 percent in May from -22 percent in previous month. The balance was forecast to rise marginally to -21 percent.The pound appreciated to 0.8883 against the euro, following a 2-day decline to 0.8920 at 3:15 am ET. The pound is likely to find resistance around the 0.86 level.Final data from Destatis showed that Germany's consumer price inflation moderated as estimated in May from a five-month high on air tickets and holiday packages. Consumer price inflation eased to 1.4 percent from 2 percent in April. Following a 3-day decline to 1.2662 at 3:15 am ET, the pound recovered to 1.2707 against the greenback. The next possible resistance for the pound is seen around the 1.28 level. Data from the Labor Department showed that U.S. import and export prices both dropped more than expected in the month of May.The Labor Department said import prices fell by 0.3 percent in May following a revised 0.1 percent uptick in April. The pound staged a modest bounce to 1.2616 against the Swiss franc, from a 2-day drop to 1.2573 at 5:00 am ET. The pound is seen finding resistance around the 1.29 region. In the monetary policy assessment, the Swiss National Bank said it is introducing the SNB policy rate, replacing the three-month Libor, saying the future of the Libor is not guaranteed. Interest on sight deposits held by banks at the SNB currently corresponds to the SNB policy rate and remains at -0.75 percent. The interest on sight deposits was unchanged at -0.75 percent. The pound recovered to 137.78 against the yen, after dropping to a weekly low of 137.13 at 3:15 am ET. Next key resistance for the pound is seen around the 140.5 level. Data from the Ministry of Economy, Trade and Industry showed that Japan's tertiary activity increased for the first time in three months in April. The tertiary activity index rose 0.8 percent month-over-month in April, after a 0.2 percent decline in March. Economists had expected a 0.4 rise.Copyright RTT News/dpa-AFX

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