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20.10.2019

Oracle Co-CEO Mark Hurd Dies At 62

REDWOOD SHORES (dpa-AFX) - Mark Hurd, co-chief executive officer of Oracle and former chief executive officer of Hewlett-Packard, has died. He was 62.Oracle Founder and Chairman Larry Ellison said, 'Mark was my close and irreplaceable friend, and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle. All of us will miss Mark's keen mind and rare ability to analyze, simplify and solve problems quickly.'Hurd took a leave of absence from Oracle a month ago due to unspecified health reasons. 'Though we all worked hard together to close the first quarter, I've decided that I need to spend time focused on my health,' Hurd said in September statement.Hurd and Safra Catz were appointed as CEOs of Oracle in September 2014. Hurd's Oracle career started in 2010, one month after he resigned as Hewlett-Packard's CEO over sexual harassment allegations.Copyright RTT News/dpa-AFX
19.10.2019

Osram Receives New Takeover Bid From AMS

BERLIN (dpa-AFX) - The Austrian sensor maker AMS AG announce the launch of the new takeover offer to acquire Osram Licht AG (OSAGF.PK) at an enterprise value about 4.6 billion euros.Under deal, the price offered by AMS remains at 41 euros per share, the acceptance threshold was lowered to 55%.Earlier this month, ams said it is committed to continue pursuing the acquisition of Osram Licht, after its 4.3 billion euros bid failed to receive enough support from shareholders.'Over the past few days, we have had constructive discussions with AMS about the conditions for a new takeover bid,' Osram CEO Olaf Berlien said. 'The managing board welcomes the progress made so far and is confident that both sides can agree on a future-oriented strategic concept.'Meanwhile, Advent and Bain Capital announced Friday that they will abstain from a takeover offer at this time, but will follow the further development closely.Osram's Managing Board and Supervisory Board said it will examine the offer carefully and submit a reasoned opinion. At present, AMS is Osram's largest single shareholder with a stake of 19.99 percent.Copyright RTT News/dpa-AFX
18.10.2019

Sanofi To Recall Zantac In North America

PARIS (dpa-AFX) - Sanofi plans to conduct a voluntary recall of Zantac over-the-counter drugs in the U.S. and Canada, due to a possible contamination with a nitrosamine impurity called N-nitrosodimethylamine.The company said it is working with health authorities to determine the level and extent of the recall. On September 13, the U.S Food and Drug Administration and Health Canada issued public statements alerting that some ranitidine medicines, including Zantac OTC, could contain NDMA at low levels and asked manufacturers to conduct testing. Evaluations are ongoing on both drug substance and finished drug product. Due to inconsistencies in preliminary test results of the active ingredient used in the U.S. and Canadian products, Sanofi has made the decision to conduct the voluntary recall in the U.S. and Canada as the investigation continues.Copyright RTT News/dpa-AFX
18.10.2019

Taco Bell Franchise Owner Settles With DOJ On Immigration-related Discrimination

WASHINGTON (dpa-AFX) - The U.S. Department of Justice has reached a settlement agreement with a Texas-based Taco Bell franchise owner for immigration-related discrimination against certain employees.The settlement resolves the DOJ's investigation into whether MUY Brands LLC, and a related management company, MUY Consulting Inc., violated the Immigration and Nationality Act or INA by discriminating against lawful permanent residents in the U.S. because of their citizenship status.MUV Brands is a San Antonio, Texas-based owner and operator of about 78 Taco Bell restaurant franchises in six states.The anti-discrimination provision of the INA prohibits employers from requesting more or different documents than are required to prove work authorization based on employees' citizenship status or national origin.The DOJ said its investigation concluded that from at least July 2015 to March 2017, MUY Brands and MUY Consulting required specific work authorization documents from all lawful permanent residents, or 'green card' holders, who worked at their Taco Bell restaurants.However, the companies did not impose a similar requirement on employees who are U.S. citizens.As a result of the discrimination, some of these lawful permanent residents lost work opportunities despite providing sufficient documentation to prove their authorization to work.'Employers cannot require that a worker provide more or different documents than necessary to legally prove work authorization based on the worker's citizenship status or national origin,' said Assistant Attorney General Eric Dreiband of the Civil Rights Division.Under the settlement with the DOJ, the companies will pay a civil penalty of $175,000 and create a $50,000 backpay fund to pay the affected workers. They will also be subject to departmental monitoring and reporting requirements.In addition, certain employees of the companies will be required to attend training under the INA's anti-discrimination provision.Copyright RTT News/dpa-AFX
18.10.2019

Mattel To Bring Purple Dinosaur Barney To Big Screen

EL SEGUNDO (dpa-AFX) - Children's entertainment company Mattel, Inc. (MAT) announced Friday that it has teamed up with production companies 59% and Valparaiso Pictures to develop a live-action motion picture based on Barney, Mattel's iconic loveable, purple dinosaur.Mattel Films will co-produce 'Barney' alongside Academy Award-nominee Daniel Kaluuya (Get Out, Black Panther), Rowan Riley and Amandla Crichlow at 59%, as well as Valparaiso's David Carrico, Adam Paulsen and Bobby Hoppey.Kevin McKeon will also shepherd the project for Mattel Films. 'Barney' represents the first partnership between the production companies and Mattel Films.'Working with Daniel Kaluuya will enable us to take a completely new approach to 'Barney' that will surprise audiences and subvert expectations,' said Robbie Brenner, Mattel Films.Barney' will join other Mattel Films projects in development, including ones based on Barbie, Hot Wheels, Masters of the Universe, American Girl, View Master, Magic 8 Ball and Major Matt Mason.Copyright RTT News/dpa-AFX
18.10.2019

Amgen: FDA Approves Earlier Use Of Nplate To Treat Immune Thrombocytopenia

THOUSAND OAKS (dpa-AFX) - Amgen (AMGN) said the FDA has approved the Supplemental Biologics License Application (sBLA) for Nplate to include new data in its U.S. prescribing information showing sustained platelet responses in adults with immune thrombocytopenia. The updated indication expands treatment with Nplate to newly diagnosed and persistent adult immune thrombocytopenia patients who have had an insufficient response to corticosteroids, immunoglobulins or splenectomy.David Reese, executive vice president of Research and Development at Amgen, stated: 'This approval will provide patients the opportunity to receive Nplate earlier in the course of their disease, potentially reducing their need for prolonged steroid use.'Copyright RTT News/dpa-AFX
18.10.2019

Kansas City Southern Q3 adjusted earnings Beat Estimates

WASHINGTON (dpa-AFX) - Kansas City Southern (KSU) released earnings for its third quarter that climbed from the same period last year.The company's profit totaled $180.1 million, or $1.81 per share. This compares with $173.5 million, or $1.70 per share, in last year's third quarter.Excluding items, Kansas City Southern reported adjusted earnings of $193.6 million or $1.94 per share for the period. Analysts had expected the company to earn $1.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 7.0% to $747.7 million from $699.0 million last year.Kansas City Southern earnings at a glance:-Earnings (Q3): $193.6 Mln. vs. $160.6 Mln. last year.-EPS (Q3): $1.94 vs. $1.57 last year.-Analysts Estimate: $1.79 -Revenue (Q3): $747.7 Mln vs. $699.0 Mln last year.Copyright RTT News/dpa-AFX
18.10.2019

Rigel Pharma: CHMP Adopts Positive Trend Vote For Fostamatinib

WASHINGTON (dpa-AFX) - Rigel Pharmaceuticals, Inc. (RIGL) said the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has adopted a positive trend vote on the Marketing Authorization Application for fostamatinib disodium hexahydrate (fostamatinib) for the treatment of chronic immune thrombocytopenia in adult patients who are refractory to other treatments. The CHMP intends to hold a final vote on the recommendation at their November meeting. Fostamatinib is commercially available in the U.S. and is the first and only spleen tyrosine kinase inhibitor indicated for the treatment of thrombocytopenia in U.S. adult patients with chronic Immune Thrombocytopenia who have had an insufficient response to a previous treatment.Copyright RTT News/dpa-AFX
18.10.2019

American Express Reaffirms FY19 Outlook

NEW YORK CITY (dpa-AFX) - While reporting financial results for the third quarter on Friday, American Express Co. (AXP) reaffirmed its earnings and revenue growth guidance for the full-year 2019. The company also provided revenue growth outlook for the fourth quarter.For fiscal 2019, the company continues to project earnings in the range of $7.64 to $8.14 per share and adjusted earnings in the range of $7.85 to $8.35 per share. The company's 2019 revenue growth guidance also remains 8 to 10 percent.On average, analysts polled by Thomson Reuters expect the company to report earnings of $8.12 per share on revenue growth of 8.0 percent to $43.57 billion for the year. Analysts' estimates typically exclude special items.For the fourth quarter, the company projects revenue growth of 8 to 10 percent. The Street is currently looking for revenues to grow 8.9 percent to $11.41 billion.Copyright RTT News/dpa-AFX
18.10.2019

Coca-Cola Q3 Profit Matches Estimates, Organic Revenues Up 5%; Updates Guidance

ATLANTA (dpa-AFX) - The Coca-Cola Company (KO) reported that its third-quarter comparable earnings per share declined 2 percent year-on-year to $0.56. Comparable EPS performance included the impact from a 6-point currency headwind. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56, for the quarter. Analysts' estimates typically exclude special items.For the third-quarter, net income attributable to shareowners rose 38 percent to $2.59 billion. Earnings per share was $0.60 compared to $0.44. Operating income declined 4 percent for the quarter. Operating margin was 26.3 percent compared to 29.8 percent, prior year. Comparable currency neutral operating income grew 5 percent, for the quarter. Comparable operating margin was 28.1 percent versus 30.7 percent, a year ago. Margins were unfavorably impacted by a 260 basis point headwind from currency and net acquisitions.Third-quarter net revenues grew 8 percent to $9.51 billion. Organic revenues were up 5 percent. Revenue growth was driven by price/mix growth of 6 percent, partially offset by a 2 percent decline in concentrate sales. Analysts expected revenue of $9.43 billion for the quarter. Year-to-date cash from operations was $7.8 billion, up 37 percent largely due to strong underlying growth, working capital initiatives and the timing of tax payments. Year-to-date free cash flow was $6.6 billion, up 41 percent.For fiscal 2019, the company now projects: comparable net revenues to rise in a range of 4 percent to 5 percent; and comparable operating income to increase in a range of 8 percent to 9 percent. In July, the company projected comparable net revenues growth of 4 percent, and comparable operating income increase of 7 percent to 8 percent. Earnings per share outlook is unchanged. For fourth-quarter, Coca-Cola projects: comparable net revenues to rise 12 percent; and comparable operating income to increase 7 percent. For fiscal 2020, the company anticipates: comparable net revenues to rise in a range of 1 percent to 2 percent; and comparable operating income to increase in a range of 2 percent to 3 percent.Shares of Coca-Cola Company were up more than 1% in pre-market trade on Friday.Copyright RTT News/dpa-AFX
18.10.2019

U.S. Stocks Close Firmly Negative On Worries About Global Economy

WASHINGTON (dpa-AFX) - Stocks moved mostly lower over the course of the trading day on Friday, more than offsetting the modest gains posted in the previous session. The major averages all finished the session firmly in negative territory.The Dow saw further downside going into the close, ending the day down 255.68 points or 1 percent at 26,770.20. The Nasdaq climbed off its worst levels but still slid 67.31 points or 0.8 percent to 8,089.54 and the S&P 500 fell 11.75 points or 0.4 percent to 2,986.20.The major averages turned in a mixed performance for the week. The Dow dipped by 0.2 percent, while the Nasdaq and the S&P 500 rose by 0.4 percent and 0.5 percent, respectively.The weakness on Wall Street partly reflected concerns about the global economic outlook following the release of disappointing Chinese data.Data from the National Bureau of Statistics showed China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more stimulus.China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter. This was the slowest growth since the early 1990s. Growth was forecast to slow marginally to 6.1 percent.In U.S. economic news, the Conference Board released a report showing an unexpected drop by its reading on leading U.S. economic indicators in the month of September.The Conference Board said its leading economic index edged down by 0.1 percent in September after dipping by a revised 0.2 percent in August.Economists had expected the index to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the drop by the index reflected weaknesses in the manufacturing sector and the interest rate spread, which were only partially offset by rising stock prices and a positive contribution from the Leading Credit Index.'The LEI reflects uncertainty in the outlook and falling business expectations, brought on by the downturn in the industrial sector and trade disputes,' said Ozyildirim.He added, 'Looking ahead, the LEI is consistent with an economy that is still growing, albeit more slowly, through the end of the year and into 2020.'Lingering uncertainty about a possible U.S.-China trade deal and questions about the Brexit deal getting through parliament also weighed on the markets.Sector NewsOil service stocks showed a notable downturn over the course of the trading session, dragging the Philadelphia Oil Service Index down by 1.8 percent.The pullback by oil service stocks came as the price of crude oil turned lower, with crude for November edging down $0.15 to $53.78 a barrel after reaching a high of $54.62 a barrel.Significant weakness was also visible among software stocks, as reflected by the 1.7 percent drop by the Dow Jones U.S. Software Index. The index continue to pull back after ending Tuesday's trading at its best closing level in well over two months.Natural gas, semiconductor and tobacco stocks also saw considerable weakness on the day, while some strength emerged among banking and commercial real estate stocks.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Friday, although Japan's Nikkei 225 Index bucked the downtrend and edged up by 0.2 percent. China's Shanghai Composite Index slumped by 1.3 percent and Hong Kong's Hang Seng Index fell by 0.5 percent.The major European markets also moved to the downside over the course of the session. While the French CAC 40 Index slid by 0.7 percent, the U.K.'s FTSE 100 Index fell by 0.4 percent and the German DAX Index dipped by 0.2 percent.In the bond market, treasuries pulled back off their best levels but ended the day slightly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 1.747 percent.Looking AheadEarnings season gets into full swing next week, with a slew of big-name companies scheduled to release their quarterly results.McDonald's (MCD), Procter & Gamble (PG), UPS (UPS), Caterpillar (CAT), eBay (EBAY), Ford (F), Microsoft (MSFT), Tesla (TSLA), Twitter (TWTR), Amazon (AMZN), and Intel (INTC) are just a few of the companies due to report their results.Next week's economic calendar is relatively light, although traders are likely to keep an eye on report on new and existing home sales and durable goods orders.Copyright RTT News/dpa-AFX
18.10.2019

Swiss Market Ends Lower For 3rd Straight Day

BRUSSELS (dpa-AFX) - The Switzerland stock market extended losses to a third straight session on Friday as worries about global growth after data showed China's GDP to have grown at the slowest pace since early 1990s in the third quarter.Doubts about the latest Brexit deal passing a vote on Saturday and continued uncertainty about U.S.-China trade agreement also weighed on stocks.The benchmark SMI, which was in positive territory for just a few minuted around early afternoon, ended down 43.45 points, or 0.43%, at 9,965.49, slightly off the session's low.On Thursday, the index ended down 0.23%, after declining 0.16% a session earlier.Richemont declined 1.7% and Givaudan ended lower by 1.5%. Swatch Group, Lonza Group, Sika, Nestle, Credit Suisse and Novartis shed 0.7 to 1%.Swisscom advanced nearly 1%, while Swiss Re ended modestly higher. Roche Holding also ended on a positive note after the company said it's Xofluza drug, used for treating patients with influenza-related complications, has bagged FDA approval.UBS Group shares ended flat. According to reports, an Italian judge has accepted a request by UBS to pay more than 10 million euros ($11 million) to settle a money-laundering investigation.In the midcap section, Temenos Group lost nearly 5%, extending losses from the previous session on weak guidance. AMS shed about 4.5% and Logitech International declined 2.6%BB Biotech, Lindt & Sp, Schindler, Dorma Kaba Holding and Schindler Holding gained 0.6 to 1.4%.Most of the markets across Europe ended weak. Among the major indices, Germany's DAX edged down 0.17%, the U.K.'s FTSE 100 shed 0.44% and France's CAC 40 declined 0.65%. The pan European Stoxx 600 ended down 0.32%.Copyright RTT News/dpa-AFX
18.10.2019

European Markets End Lower On Growth Worries, Brexit Uncertainty

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended lower on Friday, with investors largely staying wary of creating fresh positions ahead of a vote on the latest Brexit deal on Saturday.Disappointing economic data from China and continued uncertainty about U.S.-China trade deal also forced investors to tread cautiously.The pan European Stoxx 600 ended down 0.32%. Germany's DAX edged down 0.17%, the U.K.'s FTSE 100 shed 0.44% and France's CAC 40 declined 0.65%, while Switzerland's SMI ended lower by 0.43%.Among other markets in Europe, Belgium, Denmark, Ireland, Italy, Netherlands, Poland, Portugal and Spain ended weak. In Germany, Wirecard extended its slide to another session due to alleged irregularities in accounting practices. The stock ended almost 7% down. Fresenius shed about 2.5%. Daimler, Bayer, Infineon, BMW and Deutsche Bank lost 0.6 to 1.4%, while Allianz and Muench.Rueckvers gained more than 1% each.In the French market, Renault lost more than 11% after the automaker cut its operating margin and revenues outlook for fiscal year 2019, citing a less favorable economic environment and a regulatory context that requires ever-increasing costs. Danone lost more than 8% and Thales ended 5% down. Kering, Peugeot and L'Oreal and Bouygues also ended notably lower.Publicis Groupe, ArecelorMittal, Vivendi and Pernod Ricard ended on a firm note, gaining 0.8 to 2%.In the U.K. market, Micro Focus and InterContinental shed more than 4%. Rolls-Royce Holdings, Hargreaves Lansdown, Burberry Group and Relx ended lower by 2 to 2.5%, while Intertek ended nearly 2% down.RBS gained about 2.6%. ITV, Berkeley, Segro, NMC Health, DS Smith and Imperial Brands also ended on a bright note.In economic releases, the euro area current account surplus increased in August reflecting higher primary income and trade in services, the European Central Bank reported today.The current account surplus increased to EUR 27 billion from EUR 22 billion in July.In Brexit news, Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker reached a new Brexit deal on Thursday. However, the proposed deal is expected to face stiff opposition in parliament when it is put to vote in the House of Commons on Saturday.Meanwhile, the Deputy Governor of Bank of England Dave Ramsen told Bloomberg News in an interview that the bank has room to hike interest rates in a limited and gradual manner if the UK moves out of the European Union smoothly.'The kind of guidance we've been giving -- in the world of a deal it still applies,' the banker said.'We're not saying over what timeframe, but limited and gradual is a reasonable qualitative framing,' said Ramsden.In economic news from China, data released by the National Bureau of Statistics said China's GDP grew 6% year-on-year in the third quarter after rising 6.2% in the second quarter. This was the slowest growth since early 1990s.Industrial production grew 5.8% annually in September, well above an expected climb of 4.9%. Annual growth in retail sales were up 7.8% in line with expectations.Copyright RTT News/dpa-AFX
18.10.2019

Major Averages Falling To New Lows For The Session

WASHINGTON (dpa-AFX) - After moving moderately lower early in the session, stocks have seen some further downside over the course of the trading session on Friday. The major averages have slid more firmly into negative territory, more than offsetting yesterday's modest gains.In recent trading, the major averages have fallen to new lows for the session. The Dow is down 147.93 points or 0.6 percent at 26,877.95, the Nasdaq is down 86.12 points or 1.1 percent at 8,070.73 and the S&P 500 is down 14.12 points or 0.5 percent at 2,983.83.The weakness on Wall Street partly reflects concerns about the global economic outlook following disappointing Chinese data.Data from the National Bureau of Statistics showed China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more stimulus.China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter. This was the slowest growth since the early 1990s. Growth was forecast to slow marginally to 6.1 percent.Stocks saw further downside following the release of a Conference Board report showing an unexpected drop by its reading on leading U.S. economic indicators in the month of September.The Conference Board said its leading economic index edged down by 0.1 percent in September after dipping by a revised 0.2 percent in August.Economists had expected the index to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the drop by the index reflected weaknesses in the manufacturing sector and the interest rate spread, which were only partially offset by rising stock prices and a positive contribution from the Leading Credit Index.'The LEI reflects uncertainty in the outlook and falling business expectations, brought on by the downturn in the industrial sector and trade disputes,' said Ozyildirim.He added, 'Looking ahead, the LEI is consistent with an economy that is still growing, albeit more slowly, through the end of the year and into 2020.'Lingering uncertainty about a possible U.S.-China trade deal and questions about the Brexit deal getting through parliament are also weighing on the markets.Sector NewsSoftware stocks have shown a significant move to the downside over the course of the session, dragging the Dow Jones U.S. Software Index down by 2.1 percent. The software index continues to pull back after ending Tuesday's trading at its best closing level in well over two months.Considerable weakness has also emerged among semiconductor stocks, as reflected by the 1.5 percent drop by the Philadelphia Semiconductor Index.Tobacco, computer hardware and biotechnology stocks are also seeing notable weakness on the day, while banking stocks have moved to the upside.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Friday, although Japan's Nikkei 225 Index bucked the downtrend and edged up by 0.2 percent. China's Shanghai Composite Index slumped by 1.3 percent and Hong Kong's Hang Seng Index fell by 0.5 percent.The major European markets also moved to the downside over the course of the session. While the French CAC 40 Index slid by 0.7 percent, the U.K.'s FTSE 100 Index fell by 0.4 percent and the German DAX Index dipped by 0.2 percent.In the bond market, treasuries have moved modestly higher after initially showing a lack of direction. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.9 basis points at 1.738 percent.Copyright RTT News/dpa-AFX
18.10.2019

U.S. Stocks Move To The Downside On Economic Worries

WASHINGTON (dpa-AFX) - After ending the previous session modestly higher, stocks have moved to the downside over the course of morning trading on Friday. The major averages have all slid into negative territory, although selling pressure has remained somewhat subdued.Currently, the major averages are just off their lows of the session. The Dow is down 99.71 points or 0.4 percent at 26,926.17, the Nasdaq is down 50.12 points or 0.6 percent at 8,106.73 and the S&P 500 is down 8.44 points or 0.3 percent at 2,989.51.The weakness that has emerged on Wall Street may partly reflect concerns about the global economic outlook following disappointing Chinese data.Data from the National Bureau of Statistics showed China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more stimulus.China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter. This was the slowest growth since the early 1990s. Growth was forecast to slow marginally to 6.1 percent.Stocks saw further downside following the release of a Conference Board report showing an unexpected drop by its reading on leading U.S. economic indicators in the month of September.The Conference Board said its leading economic index edged down by 0.1 percent in September after dipping by a revised 0.2 percent in August.Economists had expected the index to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the drop by the index reflected weaknesses in the manufacturing sector and the interest rate spread, which were only partially offset by rising stock prices and a positive contribution from the Leading Credit Index.'The LEI reflects uncertainty in the outlook and falling business expectations, brought on by the downturn in the industrial sector and trade disputes,' said Ozyildirim.He added, 'Looking ahead, the LEI is consistent with an economy that is still growing, albeit more slowly, through the end of the year and into 2020.'Selling pressure has remained somewhat subdued, however, with lingering uncertainty about a possible U.S.-China trade deal and questions about the Brexit deal getting through parliament keep traders on the sidelines.Software stocks have come under pressure over the course of the morning, dragging the Dow Jones U.S. Software Index down by 1.3 percent. Tobacco, computer hardware and semiconductor stocks have also moved to the downside, while some strength is visible among oil service stocks.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Friday, although Japan's Nikkei 225 Index bucked the downtrend and edged up by 0.2 percent. China's Shanghai Composite Index slumped by 1.3 percent and Hong Kong's Hang Seng Index fell by 0.5 percent.The major European markets have also moved to the downside over the course of the session. While the French CAC 40 Index slid by 0.8 percent, the U.K.'s FTSE 100 Index and the German DAX Index are both down by 0.3 percent.In the bond market, treasuries continue to show a lack of direction after ending yesterday's trading nearly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by less than a basis point at 1.748 percent.Copyright RTT News/dpa-AFX
18.10.2019

U.S. Stocks May Open Higher On Upbeat Earnings News

WASHINGTON (dpa-AFX) - Stocks may move to the upside in early trading on Friday, adding to the modest gains posted in the previous session. The major index futures are currently pointing to a slightly higher open for the markets, with the Dow futures up by 24 points.A positive reaction to the latest batch of earnings news may contribute to initial strength on Wall Street, with Coca-Cola (KO) moving notably higher in pre-market trading after reporting better than expected third quarter results and raised its full-year guidance.Shares of American Express (AXP) may also move to the upside after the credit card giant reported third quarter results that exceeded analyst estimates on both the top and bottom lines.Early buying interest may remain subdued, however, with disappointing Chinese economic data offsetting the positive sentiment.Data from the National Bureau of Statistics showed China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more stimulus.China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter. This was the slowest growth since the early 1990s. Growth was forecast to slow marginally to 6.1 percent.Lingering uncertainty about a possible U.S.-China trade deal may also weigh on the markets along with doubts about the Brexit deal getting through parliament.Shortly after the start of trading, the Conference Board is due to release its report on leading economic indicators in the month of September. The leading economic index is expected to rise by 0.2 percent in September after coming in unchanged in August.Stocks fluctuated over the course of the trading session on Thursday but eventually ending the day modestly higher. The major averages all closed in positive territory, although buying interest was somewhat subdued.The Dow bounced back and forth across the unchanged line before closing up 23.90 points or 0.1 percent to 27,025.88. The Nasdaq climbed 32.67 points or 0.4 percent to 8,156.85 and the S&P 500 rose 8.26 points or 0.3 percent to 2,997.95.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Friday, although Japan's Nikkei 225 Index bucked the downtrend and edged up by 0.2 percent. China's Shanghai Composite Index slumped by 1.3 percent and Hong Kong's Hang Seng Index fell by 0.5 percent.Meanwhile, the major European markets are turning in a lackluster performance on the day. While the French CAC 40 Index has fallen by 0.4 percent, the U.K.'s FTSE 100 Index and the German DAX Index are nearly unchanged.In commodities trading, crude oil futures are rising $0.50 to $54.43 a barrel after climbing $0.57 to $53.93 a barrel on Thursday. Meanwhile, after rising $4.30 to $1,498.30 an ounce in the previous session, gold futures are slipping $4 to 1,494.30 an ounce. On the currency front, the U.S. dollar is trading at 108.54 yen versus the 108.66 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1148 compared to yesterday's $1.1125.Copyright RTT News/dpa-AFX
18.10.2019

Wall Street Aims To Open Slightly Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Early signs from the U.S. Futures suggest that Wall Street might be opening slightly higher on Friday. Investors are closely monitoring the Brexit deal that might have an influence on market sentiments. If the bill is passed unchanged on Saturday, the UK would leave the EU on October 31.Asian shares finished mostly lower, while European shares are trading down. As of 8.05 am ET, the Dow futures were up 23.00 points, the S&P 500 futures were adding 2.50 points and the Nasdaq 100 futures were up 2.25 points. The U.S. majors closed higher on Thursday. The Dow bounced back and forth across the unchanged line before closing up 23.90 points or 0.1 percent to 27,025.88. The Nasdaq climbed 32.67 points or 0.4 percent to 8,156.85 and the S&P 500 rose 8.26 points or 0.3 percent to 2,997.95.On the economic front, the Conference Board's Leading Indicators for September will be published at 10.00 ET. The consensus is for an increase of 0.2 percent, while it little changed last month. Dallas Federal Reserve Bank President Robert Kaplan will speak in a moderated discussion at Reinventing Bretton Woods Committee 'The Disentanglement of the Global Economy' event in Washington, DC, with audience and media Q&A at 9.00 am ET. Kansas City Federal Reserve Bank President Esther George will speak at the Conference at 10.00 am ET. Minneapolis Federal Reserve Bank President Neel Kashkari will speak at the Federal Home Loan Bank of Des Moines Annual Leadership Summit in Bloomington, Minnesota at 10.30 am ET. Federal Reserve Board of Governors Vice Chair Richard Clarida will speak on the economic outlook and monetary policy at the 'Fixed-Income Management 2019 Late Cycle Investing: Opportunity and Risk' conference held by the CFA Institute in Boston, Massachusetts, with questions from the moderator at 11.30 am ET. Baker-hughes Rig Count for the week will be issued at 1.00 pm ET. The North American Rig Count was 1002, while U.S. Rig Count was 856. Dallas Federal Reserve Bank President Robert Kaplan will speak in a moderated discussion on energy and the economy at the Conference on Energy and the Economy in Denver, Colorado, with audience Q&A at 5.10 pm ET. Asian stocks ended mostly lower on Friday. Chinese stocks ended lower . The benchmark Shanghai Composite index fell 39.19 points, or 1.32 percent, to 2,938.14 while Hong Kong's Hang Seng index ended down 0.48 percent at 26,719.58.China's economy grew at the slowest rate in nearly three decades in the third quarter, raising pressure on policymakers to roll out more measures.China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter.Japanese shares hit a 10-month high. The Nikkei average inched up 40.82 points, or 0.18 percent, to 22,492.68 while the broader Topix index closed 0.13 percent lower at 1,621.99.Japan's inflation eased to the lowest level in more than two years in September, raising pressure on the central bank to ease policy further, data showed today.Australian markets fell. The benchmark S&P/ASX 200 index dropped 35 points, or 0.52 percent, to 6,649.70 while the broader All Ordinaries index ended up 33.10 points, or 0.49 percent, at 6,758.40.European shares are trading mostly lower. France's CAC 40 is declining 19.83 points or 0.35 percent. Germany's DAX is up 5.39 points or 0.04 percent. FTSE 100 of U.K. is lowering by 0.30 points or 0.00 percent. Swiss Market Index is losing 10.65 points or 0.11 percent. Eurozone's leading Blue Chip index,Euro Stoxx 50, is declining 0.082 percent.Copyright RTT News/dpa-AFX
18.10.2019

European Shares Subdued On Weak China Growth Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks edged lower in cautious trade on Friday as weak GDP data from China rekindled growth worries and doubts swirled both about the merits of Boris Johnson's Brexit deal and about the likelihood of the deal getting through the British parliament. A slew of disappointing earnings also kept investors nervous, heading into the weekend. The pan European Stoxx 600 was marginally lower at 393.04 after declining 0.1 percent in the previous session. The German DAX was rising 0.2 percent while France's CAC 40 was losing 0.3 percent and the U.K.'s FTSE 100 was declining 0.2 percent.Renault shares slumped 12 percent after the automaker cut its operating margin and revenues outlook for fiscal year 2019, citing a less favorable economic environment and a regulatory context that requires ever-increasing costs. Peugeot shares fell over 1 percent.Food company Danone lost 8 percent after the company lowered its sales outlook.Defense electronics firm Thales fell nearly 6 percent after cutting its revenue growth forecast for 2019.Reinsurer Munich Re rose 0.7 percent after saying it expects to beat its target for the consolidated result of 2.5 billion euros for 2019.Sweden's AB Volvo edged up slightly despite reporting a sharp decline in third-quarter orders.Swiss drug major Roche Group rose half a percent after the U.S. Food and Drug Administration approved a supplemental New Drug Application for Xofluza (baloxavir marboxil).Miners were broadly lower on concerns over weakening growth in the world's second largest economy.Intercontinental Hotels lost 2.4 percent after its third-quarter Group RevPAR declined 0.8 percent, impacted by tougher trading conditions in the U.S. and China, and ongoing unrest in the Hong Kong SAR.London Stock Exchange Group rose over 1 percent after it delivered a strong third-quarter performance.In economic releases, the euro area current account surplus increased in August reflecting higher primary income and trade in services, the European Central Bank reported today.The current account surplus increased to EUR 27 billion from EUR 22 billion in July.Copyright RTT News/dpa-AFX
18.10.2019

FTSE 100 Drifts Lower On Brexit Uncertainty

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were moving lower on Friday and the pound retreated as doubts swirled both about the merits of Boris Johnson's Brexit deal and about the likelihood of the deal getting through the British parliament.Weak Chinese GDP data also weighed on markets ahead of the weekend. China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter, the National Bureau of Statistics said. This was the slowest growth since early 1990s.The benchmark FTSE 100 was down 10 points, or 0.14 percent, at 7,172 after rising 0.2 percent on Thursday. Miners were broadly lower on concerns over weakening growth in the world's second largest economy. Intercontinental Hotels lost 2.4 percent after its third-quarter Group RevPAR declined 0.8 percent, impacted by tougher trading conditions in the U.S. and China, and ongoing unrest in the Hong Kong SAR.London Stock Exchange Group rose over 1 percent after it delivered a strong third-quarter performance.Copyright RTT News/dpa-AFX
18.10.2019

CAC 40 Drops On Weak Earnings

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks edged lower on Friday as economists turned more pessimistic about the immediate outlook for China following the release of weak GDP data. China's GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter, the National Bureau of Statistics said. This was the slowest growth since early 1990s.Brexit worries also kept investors nervous as British Prime Minister Boris Johnson battles to sell his new Brexit deal to skeptical members of the U.K. Parliament ahead of a crucial vote on Saturday.The benchmark CAC 40 was down 20 points, or 0.36 percent, at 5,652 after declining 0.4 percent on Thursday. Renault shares slumped 12 percent after the automaker cut its operating margin and revenues outlook for fiscal year 2019, citing a less favorable economic environment and a regulatory context that requires ever-increasing costs. Peugeot shares fell over 1 percent. Food company Danone lost 8 percent after the company lowered its sales outlook. Energy giant Total gained 0.7 percent as it announced the launch of its first large liquefied natural gas or LNG bunker vessel, following its long-term charter contract with Mitsui O.S.K Lines signed in February 2018.Defense electronics firm Thales fell nearly 5 percent after cutting its revenue growth forecast for 2019.Yogurt maker Danone plunged 7.4 percent after cutting its full-year sales guidance.Shares of Remy Cointreau declined 1.4 percent after the wine and spirits company reported that its first-half sales dropped 0.6 percent to 523.9 million euros from 527 million euros last year.Copyright RTT News/dpa-AFX
18.10.2019

U.S. Leading Economic Index Unexpectedly Edges Lower In September

WASHINGTON (dpa-AFX) - Partly reflecting weakness in the manufacturing sector, the Conference Board released a report on Friday showing an unexpected drop in its reading on leading U.S. economic indicators in the month of September.The Conference Board said its leading economic index edged down by 0.1 percent in September after dipping by a revised 0.2 percent in August.Economists had expected the index to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, said the drop by the index reflected weaknesses in the manufacturing sector and the interest rate spread, which were only partially offset by rising stock prices and a positive contribution from the Leading Credit Index.'The LEI reflects uncertainty in the outlook and falling business expectations, brought on by the downturn in the industrial sector and trade disputes,' said Ozyildirim.He added, 'Looking ahead, the LEI is consistent with an economy that is still growing, albeit more slowly, through the end of the year and into 2020.'The report also said the coincident economic index was unchanged in September after rising by 0.3 percent in August, while the lagging economic index crept up by 0.1 percent after falling by 0.4 percent.Copyright RTT News/dpa-AFX
18.10.2019

Russia CB Chief Nabiullina: GDP Growth To Return To 1.5-2% In 2020 - CNBC

MOSCOW (dpa-AFX) - Russia's economic growth is expected to return to 1.5-2 percent next year, supported by stimulus from public spending and monetary policy, Governor of the Central Bank of Russia Elvira Nabiullina said Friday.'We think that budget policy will have a more stimulative stance and the normalization of our monetary policy will have additional positive effects on growth,' Nabiullina told the broadcaster CNBC in an interview in Washington. In September, the central bank slashed its interest rate for a third consecutive policy session, in line with its guidance, and signaled more easing in future as growth remains below target and inflation expectations are elevated. The rate was cut by 25 basis points to 7 percent. The next policy session is due on October 25.In June, the bank had slashed the rate by a quarter-point, which was the first reduction since March 2018.Last month, the central bank also cut the GDP growth forecast for this year to 0.8-1.3 percent from 1-1.5 percent.Copyright RTT News/dpa-AFX
18.10.2019
18.10.2019
18.10.2019

European Council Confirms Christine Lagarde As Next ECB Chief

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European leaders on Friday confirmed the appointment of Christine Lagarde as the next president of the European Central Bank.Lagarde, who is the former managing director of the International Monetary Fund, will take office on November 1, after the incumbent Mario Draghi steps down on October 31. She is the first woman to become the ECB chief.The former French finance minister is set to inherit a fractured Governing Council as several hawkish policymakers, especially those from Germany, have voiced opposition to the latest round of stimulus measures announced in September.Copyright RTT News/dpa-AFX
18.10.2019

BoE's Ramsden Still Sees Scope For Rate Hikes If Brexit Goes Smooth: Report

LONDON (dpa-AFX) - If the UK moves out of the European Union smoothly, then the Bank of England has room to hike interest rates in a limited and gradual manner, Deputy Governor Dave Ramsden told Bloomberg News in an interview.'The kind of guidance we've been giving -- in the world of a deal it still applies,' the banker said. 'We're not saying over what timeframe, but limited and gradual is a reasonable qualitative framing,' said Ramsden.Prime Minister Boris Johnson and European Commission President Jean-Claude Juncker reached a new Brexit deal on Thursday. However, the proposed deal is expected to face stiff opposition in parliament when it is put to vote in the House of Commons on Saturday. According to Ramsden, a transition agreement and clarity for U.K. businesses will bring some pickup in investment, which in turn would boost demand and productivity over time.However, earlier this week, BoE policymaker Gertjan Vlieghe said rate hikes would only eventually come back on the agenda if a Brexit deal is struck and that stimulate investment sufficiently to prevent the need for easier monetary policy.Vlieghe said entrenched Brexit uncertainty is likely to keep economic growth below potential, and require some monetary stimulus.Copyright RTT News/dpa-AFX
18.10.2019

Poland Industrial Production Rises More Than Expected

WARSAW (dpa-AFX) - Poland's industrial production rose at a faster-than-expected rate in September, figures from the Statistics Poland showed on Friday. Industrial production rose 5.6 percent year-on-year in September. Economists had expected a 5.0 percent increase. Manufacturing output rose 5.7 percent annually in September. Production of water supply grew 9.0 percent and those of electricity, gas, steam and air conditioning supply and mining and quarrying rose 3.9 percent and 2.2 percent, respectively. On a monthly basis, industrial production gained 10.7 percent in September.Copyright RTT News/dpa-AFX
18.10.2019

Poland Producer Price Inflation Steady In September

WARSAW (dpa-AFX) - Poland's producer price inflation remained stable in September, data from the Central Statistical Office showed on Friday. The producer price index rose 0.9 percent year-on-year in September, the same rate as seen in August. Economists had expected 0.5 percent rise. Prices for electricity, gas, steam and air conditioning supply grew 4.0 percent annually in September and those of mining and quarrying rose 3.9 percent. Prices for water supply and manufacturing increased by 2.7 percent and 0.3 percent, respectively. On a monthly basis, producer prices rose 0.4 percent in September, following a 0.3 percent in the previous month. A similar growth was seen in April.Copyright RTT News/dpa-AFX
18.10.2019

Japan Govt Lowers Economic Assessment

TOKYO (dpa-AFX) - Japan's government lowered its economic assessment as exports are expected to remain weak for a longer period.The cabinet office repeated that the economy is recovering at a moderate pace but said the 'weakness lasting longer mainly in exports.' In September, the report said the weakness is continuing mainly in exports.The government downgraded its assessment of industrial production saying it is in a weak tone recently. Concerning short-term prospects, weakness remains for the time being, but the economy is expected to continue recovering, supported by the effects of the policies, while employment and income situation is improving, the report said. The cabinet office said consumer prices are rising at a slower tempo recently. Last month, the office said prices are rising moderately in recent months.Official data released, earlier in the day, showed that Japan's inflation eased to the lowest level in more than two years in September, raising pressure on the central bank to ease policy further.Excluding fresh food, inflation eased to 0.3 percent in September from 0.5 percent a month ago.Copyright RTT News/dpa-AFX
18.10.2019

Dollar Exhibits Weakness Again

WASHINGTON (dpa-AFX) - The U.S. dollar extended its recent slide on Friday amid the possibility of more interest rate cuts by the Federal Reserve in the near run to support the economy.The dollar index eased to a low of 97.25 in late afternoon trades and was last seen at 97.27, down 0.35% from previous close of 97.61.The index shed about 0.9% in the week.The dollar was down nearly 0.4% against the euro, at 1.1164, with the latter gaining in strength thanks to the progress made by the U.K. and the EU on the Brexit front.Against Pound Sterling, the dollar was down almost 0.5% at 1.2950 ahead of tomorrow's vote on a Brexit deal the U.K. and the EU negotiators drafted on Thursday.The Japanese Yen strengthened to 108.41 from previous close of 108.64 a dollar.Against the loonie and Swiss franc, the dollar was down 0.13% and 0.35% at 1.3120 and 0.9845, respectively.The Aussie-Dollar was up 0.45% at 1.3120.It remains to be seen whether the draft Brexit deal will get the required majority from the U.K. lawmakers on Saturday. Already, the Democratic Unionist Party, which is a key ally of Johnson's government, confirmed in a statement Thursday that it is unable to back the proposals in the Commons as they are not in the best interests of Northern Ireland.In U.S. economic news, the Conference Board released a report on Friday showing an unexpected drop in its reading on leading U.S. economic indicators in the month of September.The Conference Board said its leading economic index edged down by 0.1% in September after dipping by a revised 0.2% in August.Economists had expected the index to rise by 0.2% compared to the unchanged reading originally reported for the previous month.Federal Reserve Vice Chairman Richard Clarida on Friday said the economy is facing 'evident' risks, while inflation remains muted. In a speech in Washington, Clarida stressed interest-rate policy was not on a preset course and policy makers would make decisions meeting-by-meeting. Officials would assess the risks and will act as appropriate.Copyright RTT News/dpa-AFX
18.10.2019

Turkish Lira Trades At 11-day High Against U.S. Dollar

ANKARA (dpa-AFX) - The Turkish Lira traded higher against the U.S. dollar in the European session on Friday, as the US and Turkey agreed to a ceasefire in northern Syria allowing Kurdish fighters to withdraw from the safe zone. Under the deal, Kurdish forces who are allied with the US in the fight against ISIS will withdraw from Turkey's declared 'safe zone' on the border.The US has removed the threat of sanctions against Turkey.The Turkish Lira firmed to an 11-day high of 5.76 against the greenback, from Thursday's closing value of 5.81, and held steady thereafter. The next likely upside target for the Turkish Lira is seen around the 4.5 level.Copyright RTT News/dpa-AFX
18.10.2019

Australian Dollar Extends Rally

CANBERA (dpa-AFX) - The Australian dollar continued to be higher against its major counterparts in the European session on Friday, as upbeat Chinese industrial production figures offset concerns over weak GDP data.Data from the National Bureau of Statistics showed that Chinese industrial production advanced 5.8 percent annually in September after rising 4.4 percent in August. Output was expected to climb 4.9 percent.Annual growth in retail sales increased to 7.8 percent, in line with expectations.Nonetheless, GDP grew 6 percent year-on-year in the third quarter after rising 6.2 percent in the second quarter, Growth was forecast to slow marginally to 6.1 percent.Underlying sentiment was subdued amid doubts about the merits of Boris Johnson's Brexit deal and about the likelihood of the deal getting through the British parliament.Speaking to a forum at the International Monetary Fund's annual meeting in Washington, Reserve Bank of Australia Governor Philip Lowe said negative interest rates are extraordinarily unlikely.'I'm not going to speculate on negative interest rates or quantitative easing in Australia, other than to say negative interest rates are extraordinarily unlikely in my country.' The currency has been trading modestly higher against its most major counterparts in the Asian session.The aussie strengthened to more than a 4-week high of 0.6842 against the greenback from Thursday's closing value of 0.6824. The currency may possibly challenge resistance around the 0.71 level. The aussie rose to 74.35 against the yen, from a low of 74.07 hit at 7:45 pm ET. The aussie is seen locating resistance around the 79.00 level. Japan's government lowered its economic assessment as exports are expected to remain weak for a longer period.The cabinet office repeated that the economy is recovering at a moderate pace but said the 'weakness lasting longer mainly in exports.' In September, the report said the weakness is continuing mainly in exports.The aussie edged higher to 1.6265 against the euro, following a decline to 1.6307 at 7:45 pm ET. If the aussie rallies further, it is likely to test resistance around the 1.60 mark.The Australian currency was trading higher at 0.8986 against the loonie, up from Thursday's closing value of 0.8964. On the upside, 0.92 is possibly seen as its next resistance level. The aussie rebounded to 1.0741 against the kiwi, from a 2-day low of 1.0716 seen at 12:15 am ET. The next possible resistance for the aussie is seen around the 1.08 level. Looking ahead, the U.S. leading index for September is scheduled for release in the New York session.Copyright RTT News/dpa-AFX
18.10.2019

Pound Rises Against Majors

BRUSSELS (dpa-AFX) - The pound advanced against its major counterparts in early European deals on Friday.The pound gained to 1.2920 against the greenback and 0.8614 against the euro, from its early lows of 1.2839 and 0.8663, respectively.Reversing from its previous lows of 139.35 against the yen and 1.2674 against the franc, the pound rose to 140.41 and 1.2753, respectively.If the pound rises further, it may find resistance around 1.32 against the greenback, 0.84 against the euro, 144.00 against the yen and 1.30 against the franc.Copyright RTT News/dpa-AFX
17.10.2019

Dollar Drifts Lower As Weak Data Signals Possible Rate Cuts

WASHINGTON (dpa-AFX) - The U.S. dollar started off on a weak note on Thursday and stayed weak right through the session as a disappointing batch of economic data raised prospects for more interest rate cuts by the Federal Reserve.Data on industrial production, housing starts and Philadelphia area manufacturing activity, all fell short of expectations. A report from the Federal Reserve showed a bigger than expected decrease in industrial production, with the strike at General Motors (GM) contributing to a drop in manufacturing output. The Fed said industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August. Economists had expected production to edge down by 0.1% compared to the 0.6% increase originally reported for the previous month.Data from the Commerce Department said housing starts plunged by 9.4% to an annual rate of 1.256 million in September after soaring by 15.1% to a revised 1.386 million in August. Economists had expected housing starts to drop by 3.2% to an annual rate of 1.320 million from the 1.364 million originally reported for the previous month.The report said building permits also slumped by 2.7% to an annual rate of 1.387 million in September after jumping by 8.2% to a revised 1.425 million in August. Building permits had been expected to tumble by 4.9% to a rate of 1.350 million from the 1.419 million originally reported for the previous month.First-time claims for U.S. unemployment benefits edged up to 214,000, an increase of 4,000 from the previous week's unrevised level of 210,000, data from Labor Department showed. Economists had expected jobless claims to inch up to 215,000.The dollar index, which declined to 97.50, was last seen at 97.61, down 0.4% from previous close.The Euro was up nearly 0.5%, with a unit of euro fetching $1.1126, compared to $1.1072 overnight. The Sterling rose sharply in early European trades after the U.K. and the European Union negotiators agreed on a Brexit deal. However, after rising to $1.2987, the currency retreated to $1.2749 amid doubts about the deal getting the required approval from the U.K. lawmakers. The sterling was last seen moving around $1.2890, up nearly 0.5%.Already, the Democratic Unionist Party, which is a key ally of Johnson's government, confirmed in a statement Thursday that it is unable to back the proposals in the Commons as they are not in the best interests of Northern Ireland.Against the Yen, the dollar was slightly higher, with the Japanese currency trading at 108.63 a dollar, down 0.11% from previous close.The Swiss franc was up more than 0.75% with the dollar-franc pair at 0.9877. Strong retail sales data lifted the Swiss currency higher. The dollar was down by about 0.5% against the loonie at 1.3135 and down more than 1% against the Aussie at 0.6829.Copyright RTT News/dpa-AFX
17.10.2019

Gold Futures Settle At 1-week High

WASHINGTON (dpa-AFX) - Gold futures ended higher on Thursday as the commodity continued to retain its safe-haven appeal amid some uncertainty about the latest Brexit deal getting the approval of the policymakers and on rising concerns about global economic slowdown.The gold's rise was also supported by the dollar's weakness amid speculation the Federal Reserve will cut interest rates again to boost economic growth. The dollar index drifted down to 97.50 and was last seen hovering around 97.60, down more than 0.4% from previous close.Gold futures for December ended up $4.30, or about 0.3%, at $1,498.30 an ounce.On Wednesday, gold futures for December ended up $10.50, or 0.7%, at $1,494.00 an ounce, rebounding strongly after a near 1% decline a session earlier.Silver futures for December ended up $0.185, at $17.612 an ounce, while Copper futures for December settled at $2.5975 per pound, up $0.0080 from previous close.In economic news, a report from the Federal Reserve showed a bigger than expected decrease in industrial production, with the strike at General Motors (GM) contributing to a drop in manufacturing output.The Fed said industrial production fell by 0.4% in September after climbing by an upwardly revised 0.8% in August.Economists had expected production to edge down by 0.1% compared to the 0.6% increase originally reported for the previous month.Data from the Commerce Department said housing starts plunged by 9.4% to an annual rate of 1.256 million in September after soaring by 15.1% to a revised 1.386 million in August.Economists had expected housing starts to drop by 3.2% to an annual rate of 1.320 million from the 1.364 million originally reported for the previous month.The report said building permits also slumped by 2.7% to an annual rate of 1.387 million in September after jumping by 8.2% to a revised 1.425 million in August. Building permits had been expected to tumble by 4.9% to a rate of 1.350 million from the 1.419 million originally reported for the previous month.First-time claims for U.S. unemployment benefits edged up to 214,000, an increase of 4,000 from the previous week's unrevised level of 210,000, data from Labor Department showed. Economists had expected jobless claims to inch up to 215,000.Copyright RTT News/dpa-AFX
17.10.2019

Pound Retreats On Doubts Over Brexit Deal Approval In Parliament

BRUSSELS (dpa-AFX) - The pound eased off from its early highs against its major counterparts in the European session on Thursday, after Northern Irish party continued to object the Brexit deal, complicating the chances of getting it passed by Parliament.The support of the DUP is needed for approving the accord in Parliament.'These proposals are not, in our view, beneficial to the economic well-being of Northern Ireland and they undermine the integrity of the Union,'the DUP said in a statement.The pound retreated to 1.2757 against the greenback, from a 5-month peak of 1.2989 hit at 5:35 am ET. Reversing from early nearly 5-month highs of 1.2893 against the franc and 141.51 against the yen, the pound pulled back to 1.2622 and 138.66, respectively.The pound fell to 0.8702 against the euro, off its early more than 5-month high of 0.8574. The pound is likely to find support around 1.24 against the greenback, 1.24 against the franc, 134.00 against the yen and 0.88 against the euro.Copyright RTT News/dpa-AFX
17.10.2019

Dollar Little Changed Following U.S. Industrial Production

BRUSSELS (dpa-AFX) - After the release of U.S. industrial production for September at 9:15 am ET Thursday, the greenback changed little against its major counterparts. The greenback was trading at 108.70 against the yen, 0.9882 against the franc, 1.1117 against the euro and 1.2801 against the pound around 9:17 am ET.Copyright RTT News/dpa-AFX
17.10.2019

Dollar Mixed Ahead Of U.S. Industrial Production

BRUSSELS (dpa-AFX) - The Federal Reserve releases U.S. industrial production for September at 9:15 am ET Thursday. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback fell against the franc and the yen, it was steady against the euro and the pound.The greenback was worth 108.74 against the yen, 0.9889 against the franc, 1.1112 against the euro and 1.2803 against the pound at 9:10 am ET.Copyright RTT News/dpa-AFX
17.10.2019

Pound Surges After U.K., EU Agree On New Brexit Accord

BRUSSELS (dpa-AFX) - The pound rallied against its key counterparts in the European session on Thursday, after the U.K. and the European Union concluded a new Brexit deal following days of intense negotiations, as EU leaders gather in Brussels.The European Commission President Jean-Claude Juncker said the accord was 'fair and balanced' and he would recommend the 27 EU member states to back it at the summit.The deal places Northern Ireland in the UK's customs territory, while avoiding the need for a customs border between Ireland and Northern Ireland.The UK Parliament will vote on the revised Brexit deal at an extraordinary sitting on Saturday.But the Northern Irish party said they could not back the deal, due to gaps in customs and consent issues, as well as sales tax arrangements.Data from the Office for National Statistics showed that UK retail sales remained flat in September.Retail sales volume, including auto fuel, was unchanged from the previous month, following a 0.3 percent drop in August. Sales were forecast to fall 0.2 percent.Survey data from the Bank of England showed that UK lenders expect the availability loans to the corporate sector to fall in the next three months to end-November, at the fastest rate since early 2008.Bank of England expects the availability of credit provided to the corporate sector to fall 13.5 percent in the next three months, which is the worst decline since the first quarter of 2008.The currency weakened in the Asian session as Northern Ireland's Democratic Unionist Party rejected its backing of Boris Johnson's current Brexit plan in its current form.'As things stand, we could not support what is being suggested on customs and consent issues, and there is a lack of clarity on VAT (value-added tax),' the DUP said in a brief statement.The pound neared the key 1.30 level against the greenback, surging 1.9 percent to a 5-month peak of 1.2990. That follows a drop to 1.2749 at 1:45 am ET. The pound had ended yesterday's trading session at 1.2828 against the greenback. The currency is likely to locate resistance around the 1.32 region, if it rallies again. The pound soared 1.8 percent to near a 5-month high of 1.2893 against the franc, after falling as low as 1.2667 at 2:30 am ET. The pound was trading at 1.2760 per franc at yesterday's close. Further upward trading may see the pound challenging resistance around the 1.30 area.After a brief drop to 138.62 against the Japanese yen at 1:45 am ET, the pound rallied 2 percent on the news, touching nearly a 5-month high of 141.51. At Wednesday's trading close, the pair was quoted at 139.52. Extension of the pound's uptrend may lead it to a resistance around the 143.00 region.The pound was up by 1.2 percent at 0.8574 against the euro, its biggest since May 6. The rally in currency came after a fall to 0.8682 at 1:45 am ET. The euro-pound pair was worth 0.8628 at Wednesday's close. Next near term resistance for the pound could be possibly seen around the 0.84 level.In today's events, U.S. weekly jobless claims for the week ended October 12, building permits, housing starts and industrial production, all for September, will be featured in the New York session.Copyright RTT News/dpa-AFX

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