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24.09.2018

FIS Increases And Extends Its Unsecured Revolving Credit Facility

WASHINGTON (dpa-AFX) - FIS (FIS) said that it has completed an amendment and restatement of its existing revolving credit agreement that increases its borrowing capacity under the unsecured revolving facility from $3.0 billion to $4.0 billion and extends the term of the agreement to September 21, 2023. As per the terms of the amended and restated revolving credit facility, the maximum leverage ratio remains at 3.50x with potential step-ups to 4.00x or 4.50x following acquisitions of a certain size.In addition, FIS has established a new U.S. Commercial Paper Program under which it may issue, on a private placement basis, senior unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $4.0 billion. Under the Commercial Paper Program, FIS may issue notes from time to time, with maturities that vary, but do not exceed 397 days from the date of issue.Borrowings under the amended credit agreement will be used for general corporate purposes, including backstopping any notes that FIS may issue under the newly established Commercial Paper Program.Copyright RTT News/dpa-AFX
24.09.2018

Barrick Announces Deal With Shandong For Cross Shareholding Of Up To $300 Mln

OTTAWA (dpa-AFX) - Barrick Gold Corp. (ABX, ABX.TO) said that it has entered into a mutual investment agreement with Shandong Gold Group Co., Ltd., further strengthening Barrick's partnership with one of China's leading mining companies.As per the Agreement, Shandong Gold will purchase up to $300 million of Barrick shares, and Barrick will invest an equivalent amount in shares of Shandong Gold Mining Co., Ltd., a publicly listed company controlled by Shandong Gold. Shares will be purchased in the open market.Barrick and Shandong Gold are 50-50 joint venture partners at the Veladero mine in Argentina, the first step in the partnership between the two companies.Copyright RTT News/dpa-AFX
24.09.2018

Alnylam Pharma: Health Canada Grants Priority Review To Patisiran

WASHINGTON (dpa-AFX) - Alnylam Pharmaceuticals, Inc. (ALNY) announced that Health Canada has granted Priority Review status to patisiran. The company said the regulatory submission in Canada for the treatment of patients with hATTR amyloidosis will be based on data from the APOLLO Phase 3 study. The randomized, double-blind, placebo-controlled, global Phase 3 is the largest-ever study conducted in hATTR amyloidosis patients with polyneuropathy, and enrolled patients in Canada. 'We look forward to continuing to work closely with Health Canada during the review process,' said Jeff Miller, Country Manager, Alnylam Canada.Copyright RTT News/dpa-AFX
24.09.2018

BioXcel Expands Collaboration With Nektar To Initiate New Clinical Program

WASHINGTON (dpa-AFX) - BioXcel Therapeutics, Inc. (BTAI) and Nektar Therapeutics (NKTR) announced they are expanding the ongoing research collaboration into a new clinical partnership. The collaboration will clinically evaluate the combination of BTI's BXCL701, a small molecule immune-modulator, DPP 8/9 and FAP inhibitor; Nektar's NKTR-214, a CD122-biased agonist; and a checkpoint inhibitor as a potential therapy for pancreatic cancer.BTI will be responsible for initiating and managing the clinical program. The primary objectives of the study are to evaluate safety and efficacy of the triplet combination of BXCL701, NKTR-214 and a checkpoint inhibitor for the treatment of patients with unresectable or metastatic pancreatic cancer. BTI and Nektar Therapeutics initially announced a preclinical research collaboration in November 2017.Copyright RTT News/dpa-AFX
24.09.2018

LabCorp Issues Statement On ACLA Lawsuit

WASHINGTON (dpa-AFX) - LabCorp (LH) issued a statement regarding the decision from a U.S. District Court in ACLA v. Azar on Sept. 21, to dismiss the laboratory industry's lawsuit to halt implementation of damaging cuts to Medicare reimbursement for lab testing.David King, CEO of LabCorp, said: 'The court stated that ACLA's arguments raise 'important questions' about CMS's data gathering. The court's refusal to reach the merits of these important questions makes it critical for Congress to act quickly to force CMS to comply with the law as written. We are evaluating all of our options alongside our industry association ACLA and our industry colleagues to help protect Medicare beneficiaries' continued access to needed lab testing.'Copyright RTT News/dpa-AFX
24.09.2018

SiriusXM To Acquire Pandora In Approx. $3.5 Bln All-stock Deal

WASHINGTON (dpa-AFX) - Sirius XM Holdings Inc. (SIRI) and Pandora Media, Inc. (P) announced a definitive agreement under which SiriusXM will acquire Pandora in an all-stock transaction valued at approximately $3.5 billion. The owners of the outstanding shares in Pandora that SiriusXM does not currently own will receive a fixed exchange ratio of 1.44 newly issued SiriusXM shares for each share of Pandora they hold. The implied price of Pandora common stock is $10.14 per share. SiriusXM currently owns convertible preferred stock in Pandora that represents a stake of approximately 15% on an as-converted basis. The merger agreement provides for a 'go-shop' provision under which Pandora and its Board may actively solicit, receive, evaluate and potentially enter negotiations with parties that offer alternative proposals. SiriusXM reiterated its full-year 2018 guidance provided on July 25, 2018, with self-pay net subscriber additions of approximately 1.15 million; revenue over $5.7 billion; adjusted EBITDA of approximately $2.175 billion, and free cash flow of approximately $1.5 billion. Also, Pandora reiterated its third quarter guidance provided on July 31, 2018.Copyright RTT News/dpa-AFX
24.09.2018

Boston Scientific: FDA Approves PMA To Market Eluvia Vascular Stent System

WASHINGTON (dpa-AFX) - Boston Scientific (BSX) announced the U.S. FDA has approved its Premarket Approval application to market the Eluvia Drug-Eluting Vascular Stent System, specifically developed for the treatment of peripheral artery disease. The Eluvia stent utilizes a drug-polymer combination to offer sustained release of the drug paclitaxel for a one-year timeframe, designed to prevent tissue regrowth that might otherwise block the stented artery. The Eluvia stent system is built on the Innova Stent System platform, a self-expanding nitinol stent that has been designed for use in the superficial femoral and proximal popliteal arteries. The Eluvia stent system received CE Mark in 2016.Copyright RTT News/dpa-AFX
24.09.2018

Digital Realty To Acquire Ascenty In Brazil; Deal Valued At Approx. $1.8 Bln

OTTAWA (dpa-AFX) - Digital Realty (DLR) announced its Brazilian subsidiary, Stellar Participações Ltda., has entered into a definitive agreement to acquire Ascenty, a data center provider in Brazil, from private equity firm Great Hill Partners in a transaction valued at approximately $1.8 billion. Ascenty is one of Latin America's largest data center providers with 14 data centers in operation and/or under construction. Digital Realty expects the Ascenty acquisition to be initially dilutive to financial metrics but to be accretive to financial metrics over the intermediate term and accretive to long-term growth rate.Digital Realty has separately entered into an independent bilateral equity commitment letter with Brookfield Infrastructure, an affiliate of Brookfield Asset Management, under which Brookfield has committed to fund half of the required initial equity investment, currently estimated to be approximately $613 million, excluding Brookfield's share of the transaction costs, in exchange for 49% of the total equity interests in a joint venture entity expected to ultimately own Ascenty.Digital Realty has commenced an underwritten registered public offering of 8.5 million shares of its common stock. The company expects to enter into forward sale agreements with Bank of America, and Citibank. Digital Realty intends to contribute the net proceeds, if any, it receives upon the future settlement of the forward sale agreements to its operating partnership, which intends to subsequently use a portion of such net proceeds to fund its portion of the previously-announced pending acquisition of Ascenty.Separately, Digital Realty announced it has reached an agreement to acquire 424 acres of undeveloped land in Loudoun County, Virginia for a total purchase price of $236.5 million. The site is adjacent to Washington Dulles International Airport and located near bulk transmission lines as well as a major fiber path. The site is also located less than four miles from Digital Realty's existing data center campuses in Ashburn, Virginia.Copyright RTT News/dpa-AFX
24.09.2018

Endo Agrees To Additional Stay Of Litigation Against FDA

WASHINGTON (dpa-AFX) - Endo International plc (ENDP) announced it has agreed to an additional stay of its litigation against the U.S. FDA until December 31, 2018. The company noted that during discussions between Endo's and FDA's respective counsel on September 20, 2018, FDA advised Endo that FDA would commit to use its best efforts to finalize its clinical need determination for vasopressin by December 31, 2018 if Endo agreed to again stay the litigation until such date. Based on FDA's commitment, Endo agreed to the proposed stay. Endo agreed to FDA's prior stay requests in January 2018 and April 2018.Matthew Maletta, Chief Legal Officer of Endo, said: 'In light of FDA's commitment to Endo that FDA will use its best efforts to reach a final clinical need determination for vasopressin by December 31, 2018, we believe that a brief additional stay of our litigation is appropriate to allow FDA to complete its rulemaking process.'Copyright RTT News/dpa-AFX
24.09.2018

Cognizant Board Elects Michael Patsalos-Fox As Chairman

TEANECK (dpa-AFX) - Cognizant (CTSH) announced its Board of Directors has elected Board member Michael Patsalos-Fox to succeed John Klein as Chairman. Klein will remain a Board member.Patsalos-Fox was elected to the Cognizant Board in July 2012 and serves on the Finance, Management Development and Compensation, and Nominating, Governance and Public Affairs committees. He was a Senior Partner at global management consulting firm McKinsey & Company, where he worked for 32 years. Patsalos-Fox is currently Chairman, President and CEO of Vidyo, a visual communications services provider. Previously he was Chief Executive Officer of Stroz Friedberg, Inc., a global cyber security firm.Copyright RTT News/dpa-AFX
24.09.2018

European Shares Slide On Trade Concerns

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks fell on Monday as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.Downbeat business confidence data from Germany also weighed on markets. The corresponding index fell to 103.7 from 103.9 in August, survey data from Mannheim-based Ifo institute showed.The pan-European Stoxx Europe 600 index was down 0.37 percent at 382.87 in late opening deals after six consecutive sessions of gains. The German DAX was losing 0.4 percent, while France's CAC 40 index and the U.K.'s FTSE 100 were moving down around 0.3 percent. The British pound bounced back against the dollar after falling as much as 1.4 percent on Friday, its biggest single-day percentage loss since June 2017, as EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.Novartis slid half a percent. The Swiss pharmaceutical company announced that it plans to file ex-US for a new indication in ROP to bring transformative treatment to premature infants facing severe vision loss.Roche Group shed 0.8 percent. The drug major announced the global availability of blood-based genomic profiling test, FoundationOne Liquid.Shares of Sky Plc jumped nearly 9 percent in London after the media giant urged its shareholders to immediately accept a superior cash offer of 17.28 pounds by Comcast Corp.Randgold Resources jumped 6 percent after it agreed merger terms with Canada's Barrick Gold.Travel operator Thomas Cook Group tumbled 3.2 percent. The company slashed its profit outlook 'following unprecedented months of hot weather'. German peer TUI fell over 2 percent. French grocery retailer Carrefour Group rose slightly after it denied having ever solicited Casino for merger talks. Casino shares declined half percent. Volkswagen dropped 1 percent. Porsche will no longer offer diesel versions of its cars, becoming the first German auto maker to drop the engines in the wake of the emissions-cheating scandal.BMW and Daimler also fell around 1 percent after carmakers and the German government representatives failed to reach a compromise on Sunday over how to tackle the problem of older diesel cars.Copyright RTT News/dpa-AFX
24.09.2018

U.K. Shares Fall As Pound Rebounds

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks fell slightly on Monday as escalating concerns about global trade tensions offset investor optimism over a weakening pound. The currency bounced back against the dollar today after falling as much as 1.4 percent on Friday, its biggest single-day percentage loss since June 2017, as EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.Trade tensions also returned to the fore as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.The benchmark FTSE 100 was down 18 points or 0.24 percent at 7,472 in late opening deals after climbing as much as 1.7 percent on Friday. Shares of Sky Plc jumped nearly 9 percent after the media giant urged its shareholders to immediately accept a superior cash offer of 17.28 pounds by Comcast Corp. Randgold Resources jumped 6 percent after it agreed merger terms with Canada's Barrick Gold.BT Group shed half a percent. Sky News reported that the telecoms company is in advanced talks to appoint Philip Jansen, the joint boss of Worldpay, as its next chief executive.Travel operator Thomas Cook Group tumbled 3.2 percent. The company slashed its profit outlook 'following unprecedented months of hot weather'.WPP was little changed. New Chief Executive Mark Read is preparing to consolidate some of the advertising giant's major properties to keep pace with the industry's digital shift, the Wall Street Journal reported.Copyright RTT News/dpa-AFX
24.09.2018

CAC 40 Slides As Trade Worries Mount

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were modestly lower on Monday as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.Downbeat business confidence data from Germany also weighed on markets. The corresponding index fell to 103.7 from 103.9 in August, survey data from Mannheim-based Ifo institute showed.The benchmark CAC 40 was down 14 points or 0.25 percent at 5,480 in opening deals after rising 0.9 percent on Friday. Grocery retailer Carrefour Group bucked the weak trend to rise half a percent after it denied having ever solicited Casino for merger talks. Casino shares fell over 2 percent.Copyright RTT News/dpa-AFX
24.09.2018

DAX Falls On Trade Worries

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks fell on Monday on trade concerns as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies. Adding to downbeat sentiment, Germany's business confidence weakened slightly in September, survey data from Mannheim-based Ifo institute showed.The business sentiment index fell to 103.7 from 103.9 in August. Economists had forecast the score to drop to 103.2 from the originally estimated 103.8 in August.The benchmark DAX was down 52 points or 0.42 percent at 12,378 in opening deals after climbing 0.8 percent on Friday.Travel and tourism firm TUI fell over 2 percent after British peer Thomas Cook slashed its profit outlook 'following unprecedented months of hot weather'.Volkswagen dropped 1.7 percent. Porsche will no longer offer diesel versions of its cars, becoming the first German auto maker to drop the engines in the wake of the emissions-cheating scandal.BMW and Daimler also fell around 1 percent after carmakers and the German government representatives failed to reach a compromise on Sunday over how to tackle the problem of older diesel cars.Consumer goods group Henkel edged down slightly after its chief financial officer told a paper the company is looking at merger & acquisitions.Copyright RTT News/dpa-AFX
24.09.2018

Asian Shares Fall As New US Tariffs Take Effect

CANBERA (dpa-AFX) - Asian stocks ended mostly lower on Monday as Beijing cancelled upcoming talks with the Washington and a new round of tariffs between China and the United States came into effect, ending hopes of a resolution to the trade dispute. Trading activity was subdued as markets in Japan, South Korea, China and Taiwan were closed for public holidays.Australian shares fell slightly, led down by banks and financials. The benchmark S&P/ASX 200 index slid 7.70 points or 0.12 percent to 6,186.90 while the broader All Ordinaries index closed marginally lower at 6,299.50.Lower commodity prices pulled down material stocks, with Rio Tinto, South32 and Fortescue Metals Group losing 1-3 percent. Gold miner Evolution Mining lost 5.3 percent and Newcrest Mining dropped 1.6 percent. Banks and insurers ended on a mixed note after damaging testimony of a powerful inquiry into the financial sector. AGL Energy, Victoria's largest energy supplier, shed 0.9 percent after it has been fined almost A$3 million for failing to provide efficiency data to the Essential Services Commission. Drugmaker CSL declined 1.4 percent. New Zealand's benchmark S&P/NZX 50 index fell 38.46 points or 0.41 percent to 9,337.51, dragged down by consumer staple stocks. Dairy giant A2 Milk fell more than 6 percent to post its biggest intraday loss in nearly four months before ending 5.4 percent lower at $11.84 after chief executive Jayne Hrdlicka sold her entire stake in the company.Indonesia's Jakarta Composite index was losing 1.3 percent and Malaysia's KLSE Composite index was declining 0.7 percent. Hong Kong's Hang Seng index fell as much as 1.62 percent as U.S. tariffs on $200 billion in Chinese goods officially kicked in and Beijing also retaliated with levies on $60 billion in U.S. goods. Singapore's Straits Times index was moving up 0.1 percent. A government report showed that the country's consumer price inflation edged up to 0.7 percent in August, in line with expectations, from 0.6 percent in July, mainly on account of a more gradual decline in accommodation costs.India's Sensex was tumbling 1.7 percent, dragged mainly by shares of non-banking finance companies amid fears of a liquidity crunch. Several markets in the region were closed for holiday, including South Korea for Chuseok Day, Taiwan and China for the Mid-Autumn Festival, and Japan for Autumnal Equinox.U.S. stocks ended mixed on Friday, with the Dow rising 0.3 percent to reach another new record closing high, while the S&P 500 edged down marginally and the tech-heavy Nasdaq Composite dropped half a percent amid Wall Street's sector reshuffling coinciding with the quarterly expiration of futures and options.Copyright RTT News/dpa-AFX
24.09.2018

European Shares Poised For Mixed Open

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open on a mixed note Monday, with trade concerns likely to keep most regional markets under pressure while the U.K. markets may benefit from a weakening pound. The British pound fell as much as 1.4 percent on Friday, its biggest single-day percentage loss since June 2017, as EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.Asian markets stumbled in thin holiday trade on trade concerns and the safe-haven Japanese yen gained ground after China cancelled planned trade talks with the U.S. and also cancelled a planned visit to the U.S. by vice premier Liu He scheduled for this week.Meanwhile, China will cut import and export costs for foreign firms, Premier Li Keqiang said over the weekend, as the country looks to promote an image of being open for business.On the data front, Germany's Ifo business sentiment survey data is due later in the session, with the corresponding index seen falling slightly to 103.6 in September from 103.8 in August.The U.S. Federal Reserve ends its two-day monetary policy meeting on Wednesday, with economists expecting the central bank to raise interest rates by another quarter point.The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes.Gold inched lower and the dollar held firm while oil prices jumped on signs of a tightening market after oil producers led by Saudi Arabia and Russia signaled that they did not see any rush to increase output.U.S. stocks ended mixed on Friday, with the Dow rising 0.3 percent to reach another new record closing high, while the S&P 500 edged down marginally and the tech-heavy Nasdaq Composite dropped half a percent amid Wall Street's sector reshuffling coinciding with the quarterly expiration of futures and options.European markets posted strong gains on Friday, with banks and energy stocks pacing the gainers. The pan-European Stoxx Europe 600 index rose 0.4 percent to extend gains for the sixth straight session.The German DAX climbed 0.8 percent, France's CAC 40 index advanced 0.9 percent and the U.K.'s FTSE 100 surged as much as 1.7 percent.Copyright RTT News/dpa-AFX
24.09.2018

Asian Markets Mostly Lower In Holiday-thinned Trade

CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Monday in cautious trade following the mixed cues from Wall Street Friday and as investors focused on U.S.-China trade tensions. The Wall Street Journal reported that China has cancelled planned trade talks with the U.S., just hours before the next round of tit-for-tat trade tariffs announced by the two countries take effect later today. The markets in Japan, South Korea, China and Taiwan are closed for public holidays on Monday.The Australian market is declining following the mixed cues from Wall Street amid worries about U.S.-China trade tensions. The Australian dollar also slipped against the U.S. dollar.In late-morning trades, the benchmark S&P/ASX 200 Index is losing 24.10 points or 0.39 percent to 6,170.50, off a low of 6,167.70. The broader All Ordinaries Index is down 19.90 points or 0.32 percent to 6,285.50.In the mining space, BHP Billiton is adding 0.4 percent and Rio Tinto is edging up 0.1 percent, while Fortescue Metals is losing more than 2 percent.Gold miner Evolution Mining is losing almost 3 percent and Newcrest Mining is declining 2 percent after gold prices slipped on Friday.In the banking space, ANZ Banking is rising 0.3 percent, while Commonwealth Bank, Westpac and National Australia Bank are down in a range of 0.1 percent to 0.6 percent.Bucking the trend, oil stocks are advancing after crude oil prices gained on Friday. Oil Search is up 0.8 percent, Woodside Petroleum is higher by 0.5 percent and Santos is adding 0.2 percent.AGL Energy, Victoria's largest energy supplier, has been fined almost A$3 million for failing to provide efficiency data to the Essential Services Commission. The company's shares are losing almost 1 percent.Elsewhere in Asia, New Zealand, Indonesia, Malaysia and Hong Kong are all lower, while Singapore is modestly higher. Several markets in the region are closed on Monday for holiday, including South Korea for Chuseok Day, Taiwan and China for the Mid-Autumn Festival, and Japan for Autumnal Equinox.On Wall Street, stocks closed mixed on Friday as traders digested recent strength in the markets, which lifted the Dow and the S&P 500 to record highs. Next week's Federal Reserve meeting also kept some traders on the sidelines amid a quiet day on the U.S. economic front.While the Dow rose 86.52 points or 0.3 percent to 26,743.50, the Nasdaq fell 41.28 points or 0.5 percent to 7,986.96 and the S&P 500 edged down 1.08 points or less than a tenth of a percent to 2,929.67.The major European markets moved to the upside on Friday. While the U.K.'s FTSE 100 Index surged up by 1.7 percent, the German DAX Index and the French CAC 40 Index advanced by 0.8 percent and 0.9 percent, respectively.Crude oil prices rose Friday ahead of a weekend meeting of OPEC and other large crude exporters in Algeria. WTI crude for November added $0.46 or 0.70 percent to $70.78 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
21.09.2018

Treasuries Close Modestly Higher Ahead Of Next Week's Fed Meeting

WASHINGTON (dpa-AFX) - After ending the previous session roughly flat, treasuries saw modest strength during the trading day on Friday. Bond prices gave back ground after an initial move to the upside but still managed to end the day in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 3.068 percent. The modestly higher close by treasuries came as traders look ahead to next week's Federal Reserve meeting amid a quiet day on the U.S. economic front.The Fed is scheduled to announce it latest monetary policy decision next Wednesday and is widely expected to raise interest rates by another quarter point.The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes.While the Fed announcement is likely to be in the spotlight next week, trading could also be impacted by reaction to reports on consumer confidence, new home sales, durable goods orders and personal income and spending.Bond traders are also likely keep an eye on the results of the Treasury Department's auctions of two-year, five-year, and seven-year notes.The Treasury is due to sell $37 billion worth of two-year notes next Monday, $38 billion worth of five-year notes next Tuesday and $31 billion worth of seven-year notes next Thursday.Copyright RTT News/dpa-AFX
21.09.2018

The Swiss Stock Market Finished Lower After Early Gains Erode

BRUSSELS (dpa-AFX) - The Swiss stock market got off to a positive start Friday, but pared its gains throughout the first half of the session. The market ended the day with a slight loss. The Swiss Market Index decreased by 0.06 percent Friday and finished at 8,995.38. The Swiss Leader Index dropped 0.13 percent and the Swiss Performance Index lost 0.10 percent. Among the index heavyweights, Nestle declined 0.25 percent and Novartis lost 0.07 percent. Meanwhile, Roche rose 0.04 percent.Lonza was among the weakest performing stocks, falling 1.9 percent. Sika also dropped 1.4 percent. Adecco and Lafargeholcim surrendered 0.8 percent each.SGS was among the top performing stocks of the session, rising 1.3 percent. Swiss Life gained 0.9 percent, Swiss Re advanced 0.8 percent and Zurich Insurance added 0.5 percent. Swatch Group climbed 0.6 percent and rival Richemont rose 0.4 percent.Copyright RTT News/dpa-AFX
21.09.2018

European Markets Extended Their Winning Streak

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets ended Friday's session in positive territory, adding to their recent gains. Investors continue to shrug off concerns over global trade ahead of the new tariffs that will go into effect between the U.S. and China next week.Energy stocks benefitted from the rise in crude oil prices at the end of the week and bank stocks added to their recent strength.The pan-European Stoxx Europe 600 index advanced 0.38 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.81 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.74 percent.The DAX of Germany climbed 0.85 percent and the CAC of France rose 0.78 percent. The FTSE 100 of the U.K. gained 1.67 percent and the SMI of Switzerland finished lower by 0.06 percent.In Paris, Alstom slid 0.13 percent after launching an online market place for the railway sector.In London, engineering company Smiths Group tumbled 4.68 percent after disruptions at its medical unit hit its annual profit.Just Eat sank 4.80 percent on a Bloomberg report that Uber is in early discussions to buy food delivery upstart Deliveroo for several billion dollars.Eurozone private sector grew at the second-weakest pace since late-2016 as manufacturing growth was subdued by stagnating export orders, flash survey data from IHS Markit showed Friday. The composite output index fell to 54.2 in September, while the score was forecast to remain unchanged at 54.5.Germany's private sector growth moderated from a six-month high in September, survey data from IHS Markit showed Friday. The composite output index fell to 55.3 in September from a six-month high of 55.6 in August. Nonetheless, the latest reading was still the second-best seen since February. The expected reading was 55.4.France's private sector growth fell to its lowest level in 21 months during September, amid weaker gains in both manufacturing and service sectors, survey data from IHS Markit showed Friday. The flash France Composite Output Index dropped to 53.6 from 54.9 in August, the purchasing managers' survey showed. The reading was lower than the 54.6 economists had expected.France's economy grew at a steady pace, as previously estimated, in the second quarter, detailed figures from Insee showed Friday. Gross domestic product advanced 0.2 percent sequentially, the same rate as seen in the first quarter, and in line with the second estimate published on August 29.The UK budget deficit increased in August on higher expenditure amid subdued income growth, data from the Office for National Statistics showed Friday. Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. Borrowing was expected to fall to GBP 3.4 billion.Copyright RTT News/dpa-AFX
24.09.2018

German Business Confidence Weakens Slightly

BERLIN (dpa-AFX) - Germany's business confidence weakened in September as companies scaled back their expectations amid deteriorating current situation, survey data from the Mannheim-based Ifo institute showed Monday.The business sentiment index fell less-than-expected to 103.7 in September from 103.9 in August. Economists had forecast the score to drop to 103.2 from the originally estimated 103.8 in August.Ifo President Clemens Fuest said the German economy remains robust, despite the growing uncertainty.Joerg Kraemer, chief economist at Commerzbank, said as the Ifo index hardly fell in September, defending the strong rise in August, the weakness in the Ifo business climate is probably over. The strong domestic economy is almost completely offsetting the soft patch in the export-oriented industry, the economist added. Kraemer expects the German economy to continue growing strongly. The survey showed that current assessment indicator dropped marginally to 106.4 in September from 106.5 a month ago. The expected score was 106. Likewise, the expectations index came in at 101.0 in September, down from 101.3, but above the forecast of 100.5.In manufacturing, the index fell due to far poorer assessments of the current business situation, while business expectations climbed to their highest level since February. Manufacturers plan to ramp up production in the months ahead. In the services sector, the business climate remained almost unchanged as improvement in current business situation was offset by the fall in their six-month business outlook. In trade, the index rose again in September. Traders upwardly revised their assessments of both the current business situation and their expectations.In construction, the business climate index continued to rise with the business climate and its sub-components hitting new record highs.Copyright RTT News/dpa-AFX
24.09.2018

UK Manufacturing Orders Deteriorate In September

LONDON (dpa-AFX) - UK manufacturing orders deteriorated in September as export order books faded a little, the Industrial Trends Survey from the Confederation of British Industry showed Monday.The total order book balance fell to -1 percent in three months to September, in contrast to the forecast of +4 percent. The export order book balance stood at +5 percent.Manufacturers expect output to grow at a faster pace in the coming quarter, with the balance at +19 percent.The balance of companies expecting average selling prices to increase in the coming three months fell to +13 percent from +15 percent in August.'Heightened fears of a 'no deal' Brexit scenario have prompted some firms to move publicly from contingency planning to action,' Anna Leach, CBI head of economic intelligence, said.'Looking ahead to the Autumn Budget, business rate reform, coupled with movement on capital allowances, could help encourage productive investment against this uncertain backdrop.'Copyright RTT News/dpa-AFX
24.09.2018
24.09.2018

German Business Confidence Weakens In September

BERLIN (dpa-AFX) - Germany's business confidence weakened slightly in September, survey data from Mannheim-based Ifo institute showed Monday.The business sentiment index fell to 103.7 in September from 103.9 in August. Economists had forecast the score to drop to 103.2 from the originally estimated 103.8 in August.The current assessment indicator stood at 106.4 in September versus revised 106.5 a month ago. Nonetheless, the score was above the forecast of 106.At the same time, the expectations index came in at 101.0 in September, down from 101.3, but above the forecast of 100.5.Copyright RTT News/dpa-AFX
24.09.2018
24.09.2018

Czech Economic Confidence At 3-Month High

PRAG (dpa-AFX) - Czech economic confidence rose to a 3-month high in September, survey results from the Czech Statistical Office showed Monday.The economic sentiment index rose to 15.2 in September from 14.7 in August. This was the highest balance in three months.The survey taken among consumers in September indicated that consumers were for the next twelve months equally afraid of a decrease in the overall economic situation. The corresponding indicator came in at 8.5 versus 7.8 in August. Likewise, the business confidence index climbed to 16.8 from 16.4 in the previous month. Confidence in industry remained unchanged, while sentiment in construction weakened in September.Copyright RTT News/dpa-AFX
24.09.2018

Singapore Inflation Data Due On Monday

BEIJING (dpa-AFX) - Singapore will on Monday release August figures for consumer prices, highlighting a light day for Asia-Pacific economic activity.In July, consumer prices were down 0.1 percent on month and up 0.6 percent on year.Also, a number of regional stock markets are off on holiday on Monday, including South Korea (Chuseok Day), Taiwan and China (Mid-Autumn Festival) and Japan (Autumnal Equinox). The KOSPI in South Korea will remain closed until Thursday, while the other stock markets will return to trade on Tuesday.Copyright RTT News/dpa-AFX
24.09.2018

U.S. Dollar Slides On Trade Concerns

BRUSSELS (dpa-AFX) - The U.S. dollar declined against its most major counterparts in the European session on Monday, as China pulled out of trade talks with the U.S., escalating trade tensions between the world's two largest economies.China cancelled planned trade talks with the U.S. and also cancelled a planned visit to the U.S. by vice premier Liu He scheduled for this week, as a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.Investors awaited the Federal Reserve's two-day monetary policy meeting ending on Wednesday, with economists expecting the central bank to raise interest rates by another quarter point.The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes.The day's economic calendar is quiet, with Dallas Fed Manufacturing Business Index due shortly.The currency held steady against its major counterparts in the Asian session, with the exception of the yen.The greenback fell to 1.3161 against the pound, from a high of 1.3063 seen at 2:30 am ET. Next key support for the greenback is likely seen around the 1.34 level. The Industrial Trends Survey from the Confederation of British Industry showed that UK manufacturing orders deteriorated in September as export order books faded a little.The total order book balance fell to -1 percent in three months to September, in contrast to the forecast of +4 percent. The export order book balance stood at +5 percent.Having advanced to a 4-day high of 1.1724 against the euro at 2:30 am ET, the greenback reversed direction and dropped to 1.1775. The next possible support for the greenback is seen around the 1.19 area. Survey data from Mannheim-based Ifo institute showed that Germany's business confidence weakened slightly in September.The business sentiment index fell to 103.7 in September from 103.9 in August. Economists had forecast the score to drop to 103.2 from the originally estimated 103.8 in August.The greenback retreated to 0.9584 against the franc, from a high of 0.9606 seen at 2:15 am ET. The greenback is poised to challenge support around the 0.94 mark. The greenback eased to 0.7279 against the aussie, from a 5-day high of 0.7253 touched at 2:15 am ET. The greenback is likely to find support around the 0.745 region.On the flip side, the greenback advanced to 112.71 against the yen and held steady thereafter. This may be compared to a 4-day low of 112.40 hit at 5:00 pm ET. At last week's close, the pair was worth 112.55.Copyright RTT News/dpa-AFX
24.09.2018

Pound Advances Against Most Majors

LONDON (dpa-AFX) - The pound climbed against its most major counterparts in the European session on Monday.The pound rose to 1.3142 against the dollar and 1.2605 against the franc, from its early lows of 1.3063 and 1.2524, respectively.The pound climbed to 148.01 against the yen, from a 6-day low of 146.95 seen at 2:35 am ET.If the pound rises further, it may find resistance around 1.34 against the dollar, 1.28 against the franc and 150.00 against the yen.Copyright RTT News/dpa-AFX
24.09.2018

Euro Advances As German Business Confidence Tops Expectations

CANBERA (dpa-AFX) - The euro climbed against its major counterparts in the early European session on Monday, as a data showed that Germany's business confidence rose more than forecast in September.Survey data from Mannheim-based Ifo institute showed that the business sentiment index came in at 103.7 in September, up from forecasts of 103.2.The August reading was revised up to 103.9, from the previous figure of 103.8.The current assessment indicator stood at 106.4 in September versus revised 106.5 a month ago. Nonetheless, the score was above the forecast of 106.At the same time, the expectations index came in at 101.0 in September, down from 101.3, but above the forecast of 100.5.Investors awaited the much anticipated FOMC decision on Wednesday, which is expected to raise interest rates by another quarter point.The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes.Meanwhile, European shares fell on trade concerns as Beijing cancelled planned talks with the Washington and a new round of U.S. tariffs on Chinese goods kicked in, triggering fears of a protracted trade dispute between the world's two largest economies.The currency held steady against its major counterparts in the Asian session. The euro edged up to 132.66 against the yen and 1.1773 against the greenback, from its early 4-day lows of 131.90 and 1.1724, respectively. If the euro rises further, 135.00 and 1.19 are likely seen as its next resistance levels against the yen and the greenback, respectively.The single currency firmed to a 4-day high of 1.7654 against the kiwi, 6-day highs of 1.5231 against the loonie and 1.6182 against the aussie, coming off from its early lows of 1.7567, 1.5160 and 1.6134, respectively. The euro is likely to find resistance around 1.79 against the kiwi, 1.54 against the loonie and 1.63 against the aussie.Reversing from an early low of 1.1250 against the franc, the euro rose to 1.1288. The next possible resistance for the euro is seen around the 1.16 level.The common currency bounced off to 0.8975 against the pound, from a low of 0.8955 seen at 3:40 am ET. The euro is seen challenging resistance around the 0.91 level.Looking ahead, at 8:30 am ET, Canada wholesale sales for July are set for release.Copyright RTT News/dpa-AFX
24.09.2018

Euro Ticks Up After German Ifo Business Confidence Index

BRUSSELS (dpa-AFX) - At 4.00 am ET Monday, Germany's Ifo business sentiment survey data has been released. The euro inched up against its major opponents after the data.The euro was trading at 132.29 against the yen, 1.1276 against the franc, 0.8961 against the pound and 1.1745 against the greenback around 4:01 am ET.Copyright RTT News/dpa-AFX
24.09.2018

Euro Mixed Ahead Of German Ifo Business Confidence Index

BRUSSELS (dpa-AFX) - At 4.00 am ET Monday, Germany's Ifo business sentiment survey data is due. The business sentiment index is seen falling slightly to 103.6 in September from 103.8 in August.Ahead of the data, the euro traded mixed against its major opponents. While the euro dropped against the pound, it recovered from its early lows against the rest of major rivals.The euro was worth 132.20 against the yen, 1.1272 against the franc, 0.8956 against the pound and 1.1742 against the greenback as of 3:55 am ET.Copyright RTT News/dpa-AFX
21.09.2018

Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal

WASHINGTON (dpa-AFX) - The dollar is up against all of its major rivals Friday afternoon, but its gains are much more substantial in comparison to the pound sterling. EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.Following their meeting on Thursday, European Council president Donald Tusk told that the leaders had unanimously agreed to refuse May's plans to stay in a single market for goods.'Everybody shared the view that while there are positive elements in the Chequers proposal, the suggested element for economic cooperation will not work, not least because it risks undermining the single market,' Tusk said.May warned EU leaders that she would not make any more compromises and is prepared for a no deal position.The buck has jumped to around $1.3075 against the pound sterling Friday afternoon, from an early low of $1.3276.The UK budget deficit increased in August on higher expenditure amid subdued income growth, data from the Office for National Statistics showed Friday. Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. Borrowing was expected to fall to GBP 3.4 billion.The dollar slid to an early low of $1.1802 against the Euro Friday, but has since rebounded to around $1.1745.Eurozone private sector grew at the second-weakest pace since late-2016 as manufacturing growth was subdued by stagnating export orders, flash survey data from IHS Markit showed Friday. The composite output index fell to 54.2 in September, while the score was forecast to remain unchanged at 54.5.Germany's private sector growth moderated from a six-month high in September, survey data from IHS Markit showed Friday. The composite output index fell to 55.3 in September from a six-month high of 55.6 in August. Nonetheless, the latest reading was still the second-best seen since February. The expected reading was 55.4.France's private sector growth fell to its lowest level in 21 months during September, amid weaker gains in both manufacturing and service sectors, survey data from IHS Markit showed Friday. The flash France Composite Output Index dropped to 53.6 from 54.9 in August, the purchasing managers' survey showed. The reading was lower than the 54.6 economists had expected.France's economy grew at a steady pace, as previously estimated, in the second quarter, detailed figures from Insee showed Friday. Gross domestic product advanced 0.2 percent sequentially, the same rate as seen in the first quarter, and in line with the second estimate published on August 29.The greenback rose to a 2-week high of Y112.873 against the Japanese Yen Friday morning, but has since eased back to around Y112.545.Overall nationwide consumer prices in Japan were up 1.3 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday. That exceeded expectations for 1.1 percent and was up from 0.9 percent in July.The manufacturing sector in Japan continued to expand in September, and at an accelerated pace, the latest survey from Nikkei revealed on Friday with a manufacturing PMI score of 52.9. That's up from 52.5 in August, and it moved further above the boom-or-bust line of 50 that separates expansion from contraction.Japan's all industry activity remained stable in July, figures from the Ministry of Economy, Trade and Industry showed Friday. The all industry activity index remained flat on month, following a 0.9 percent fall in June. Economists had forecast a marginal 0.1 percent rise.Copyright RTT News/dpa-AFX
21.09.2018

Canadian Dollar Higher After Strong Retail Sales

CANBERA (dpa-AFX) - The Canadian dollar strengthened against its major counterparts in the European session on Friday, as nation's retail sales grew in July following a fall last month, driven by higher sales at food and beverage stores and gasoline stations. Data from Statistics Canada showed that retail sales rose 0.3 percent on a seasonally adjusted monthly basis.The rate matched expectations. It dropped 0.2 percent on month in June.Core retail sales increased 0.9 percent, beating expectations of 0.6 percent.This follows a 0.1 percent slide last month.Separate data showed that consumer inflation edged up 0.1 percent on a seasonally adjusted monthly basis in August.This follows a 0.5 percent gain in July and contradicted a 0.1 percent fall expected by economists.Core CPI rose 0.1 percent in August, from a revised 0.5 percent increase seen in July.The currency held steady against its major counterparts in the Asian session, with the exception of the yen.The loonie advanced to 1.5155 against the euro, from a 3-day low of 1.5226 hit at 4:45 am ET. The loonie is poised to find resistance around the 1.49 mark.Survey data from IHS Markit showed that Eurozone private sector grew at the second-weakest rate since late-2016 on subdued manufacturing activity growth in September. The composite output index fell to 54.2 in September from 54.5 in August. The score was forecast to remain unchanged at 54.5.The loonie, having dropped to a 2-day low of 0.9423 against the aussie at 4:45 am ET, reversed direction and climbed to 0.9384. On the upside, 0.92 is possibly seen as the next resistance level for the loonie.The loonie spiked up to 1.2886 against the greenback, coming off from a low of 1.2927 hit at 8:15 am ET. The loonie is seen finding resistance around the 1.27 level.The loonie rose back to 87.43 against the yen, heading to pierce a 7-1/2-month peak of 87.45 seen at 3:00 am ET. Next key resistance for the loonie is seen around the 89.00 region.Figures from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity remained stable in July. The all industry activity index remained flat on month, following a 0.9 percent fall in June. Economists had forecast a marginal 0.1 percent rise. Looking ahead, Markit's U.S. manufacturing PMI for September is set for release shortly.Copyright RTT News/dpa-AFX
21.09.2018

Loonie Climbs After Canada Retail Sales, CPI

CANBERA (dpa-AFX) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August have been released. After these data, the loonie advanced against its major counterparts. The loonie was trading at 87.27 against the yen, 0.9394 against the aussie, 1.2903 against the greenback and 1.5174 against the euro around 8:31 am ET.Copyright RTT News/dpa-AFX
21.09.2018

Loonie Mixed Ahead Of Canada Retail Sales, CPI

OTTAWA (dpa-AFX) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August are due. Ahead of these data, the loonie traded mixed against its major counterparts. While the loonie dropped against the yen and the greenback, it held steady against the aussie and the euro.The loonie was worth 87.17 against the yen, 0.9406 against the aussie, 1.2920 against the greenback and 1.5198 against the euro as of 8:25 am ET.Copyright RTT News/dpa-AFX
21.09.2018

Pound Drops On EU's Rejection Of Brexit Plan

BRUSSELS (dpa-AFX) - The pound declined against its major counterparts in the European session on Friday, as EU leaders turned down Theresa May's Chequers blueprint at a summit in Salzburg, giving a major blow to her chances of reaching a deal post-Brexit.Following their meeting on Thursday, European Council president Donald Tusk told that the leaders had unanimously agreed to refuse May's plans to stay in a single market for goods.'Everybody shared the view that while there are positive elements in the Chequers proposal, the suggested element for economic cooperation will not work, not least because it risks undermining the single market,' Tusk said.May warned EU leaders that she would not make any more compromises and is prepared for a no deal position.Data from the Office for National Statistics showed that the UK budget deficit increased in August.Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. This was the largest August borrowing for two years. The currency held steady against its major counterparts in the Asian session, with the exception of the yen.The pound slipped to 1.3179 against the dollar, after rising to 1.3277 at 12:00 am ET. Next key support for the pound is seen around the 1.29 region.The pound weakened to an 11-day low of 1.2596 against the franc, from a high of 1.2728 at 6:00 pm ET. On the downside, 1.23 is possibly seen as the next support level for the pound.Having advanced to a 4-month high of 149.72 against the yen at 1:15 am ET, the pound edged down to 148.59. If the pound falls further, it may find support around the 147.00 level.Figures from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity remained stable in July. The all industry activity index remained flat on month, following a 0.9 percent fall in June. Economists had forecast a marginal 0.1 percent rise. The pound drifted lower to a 9-day low of 0.8936 against the euro, reversing from a high of 0.8867 hit at 5:15 pm ET. The next possible support for the pound is seen around the 0.91 level.Survey data from IHS Markit showed that Eurozone private sector grew at the second-weakest rate since late-2016 on subdued manufacturing activity growth in September. The composite output index fell to 54.2 in September from 54.5 in August. The score was forecast to remain unchanged at 54.5. Looking ahead, Canada retail sales for July and consumer inflation for August, as well as Markit's U.S. manufacturing PMI for September are set for release in the New York session.Copyright RTT News/dpa-AFX

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