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27.05.2020

Autodesk Lowers FY21 EPS View

SAN RAFAEL (dpa-AFX) - Autodesk Inc. (ADSK) Wednesday lowered its earnings outlook for the full year 2021.Looking forward, the software company now expects full-year adjusted earnings of $3.52 to $3.90 per share, down from prior outlook of $4.21 to $4.44 per share. Analysts polled by Thomson Reuters currently estimate earnings of $4.15 per share for 2021.For the second quarter, Autodesk expects adjusted earnings of $0.86 to $0.92 per share and revenues of $890 million to $905 million. Analysts currently estimate earnings of $935.1 million.For the first quarter, Autodesk reported net income of $66.5 million or $0.30 per share, compared to last year's loss of $24.2 million or $0.11. On an adjusted basis, adjusted earnings were $188.4 million or $0.85 per share for the period. Analysts expected $0.81 per share for the quarter.Revenues for the quarter rose 20 percent to $885.7 million from $735.5 million last year.Copyright RTT News/dpa-AFX
27.05.2020

Workday, Inc. Q1 adjusted earnings Miss Estimates

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Workday, Inc. (WDAY):-Earnings: -$158.37 million in Q1 vs. -$116.28 million in the same period last year. -EPS: -$0.68 in Q1 vs. -$0.52 in the same period last year. -Excluding items, Workday, Inc. reported adjusted earnings of $108.78 million or $0.44 per share for the period. -Analysts projected $0.47 per share -Revenue: $1.02 billion in Q1 vs. $0.83 billion in the same period last year. -Guidance:Next quarter revenue guidance: $913 - $915 MlnFull year revenue guidance: $3.67 - $3.69 BlnCopyright RTT News/dpa-AFX
27.05.2020

HP Inc. Q2 adjusted earnings Beat Estimates

PALO ALTO (dpa-AFX) - Below are the earnings highlights for HP Inc. (HPQ):-Earnings: $764 million in Q2 vs. $782 million in the same period last year. -EPS: $0.53 in Q2 vs. $0.51 in the same period last year. -Excluding items, HP Inc. reported adjusted earnings of $741 million or $0.51 per share for the period. -Analysts projected $0.45 per share -Revenue: $12.47 billion in Q2 vs. $14.04 billion in the same period last year. -Guidance:Next quarter EPS guidance: $0.39 to $0.45Copyright RTT News/dpa-AFX
27.05.2020

NetApp Inc. Q4 adjusted earnings Beat Estimates

SUNNYVALE (dpa-AFX) - NetApp Inc. (NTAP) released earnings for fourth quarter that decreased from the same period last year.The company's earnings totaled $196 million, or $0.88 per share. This compares with $396 million, or $1.59 per share, in last year's fourth quarter.Excluding items, NetApp Inc. reported adjusted earnings of $265 million or $1.19 per share for the period. Analysts had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter fell 11.9% to $1.40 billion from $1.59 billion last year.NetApp Inc. earnings at a glance:-Earnings (Q4): $265 Mln. vs. $305 Mln. last year.-EPS (Q4): $1.19 vs. $1.22 last year.-Analysts Estimate: $1.15-Revenue (Q4): $1.40 Bln vs. $1.59 Bln last year. -Guidance:Next quarter EPS guidance: $0.36 - $0.44Next quarter revenue guidance: $1.09 - $1.24 BlnCopyright RTT News/dpa-AFX
27.05.2020

Autodesk Inc. Q1 adjusted earnings Beat Estimates

SAN RAFAEL (dpa-AFX) - Below are the earnings highlights for Autodesk Inc. (ADSK):-Earnings: $66.5 million in Q1 vs. -$24.2 million in the same period last year. -EPS: $0.30 in Q1 vs. -$0.11 in the same period last year. -Excluding items, Autodesk Inc. reported adjusted earnings of $188.4 million or $0.85 per share for the period. -Analysts projected $0.81 per share -Revenue: $885.7 million in Q1 vs. $735.5 million in the same period last year. -Guidance:Next quarter EPS guidance: $0.86 - $0.92Next quarter revenue guidance: $890 - $905 MlnFull year EPS guidance: $3.52 - $3.90Copyright RTT News/dpa-AFX
27.05.2020

Tesla Cuts Car Prices In North America, China

BEIJING (dpa-AFX) - Tesla has cut prices of its electric cars in North America following a decline in auto demand during the coronavirus-induced lockdowns. The company is also reducing the prices for its vehicles in China.The luxury electric car maker has reduced the prices for its flagship Model S sedan and the Model X sport utility vehicle by $5,000 each, while the lowest-priced Model 3 sedan is now cheaper by $2,000.The Model S will now be priced from $74,990, down from $79,990 earlier. The Model X now starts at $79,990, compared to $84,990 previously. The company's cheapest Model 3 sedan will be priced at $37,990, instead of $39,990 earlier.Tesla's Model Y is the only car in the automaker's line up that has not been impacted by the price changes. Tesla said it will also cut prices for its cars in China, which the company usually makes after the price adjustments in the U.S.Tesla China said it will cut prices for the Model S and Model X cars it imports, but will not change the prices for locally-made Model 3 cars. Tesla's Shanghai factory makes the Model 3 sedans. On May 11, Tesla CEO Elon Musk confirmed that the luxury electric car maker has restarted manufacturing cars at its Fremont, California plant. The company restarted production despite an ongoing battle with local officials about whether it should remain closed during the COVID-19 pandemic.The Detroit auto giants - General Motors, Ford and Fiat Chrysler - too have restarted their plants in the U.S., after shutting down them in late March due to the pandemic.The automakers have implemented new safety measures to help keep the coronavirus from spreading, including touchless body temperature scanning, mandatory face mask use, staggered shifts, washing of hands, and a device that buzzes if workers get too close to each other.Copyright RTT News/dpa-AFX
27.05.2020

Amivas' Artesunate Gets FDA Approval As Only Drug In US To Treat Severe Malaria

WASHINGTON (dpa-AFX) - The U.S. Food and Drug Administration (FDA) granted approval for Artesunate for Injection 110 mg, powder and solvent for solution to biopharmaceutical company Amivas (US), LLC as the only FDA-approved drug now in the U.S. for the first-line treatment of severe malaria in adult and pediatric patients.Intravenous (IV) Artesunate is also the first FDA-approved product that Amivas has introduced to their commercial portfolio.There has been no FDA-approved drug to treat severe malaria in the U.S. since the marketing of IV quinidine was discontinued by the manufacturer in March 2019.IV artesunate is the recommended World Health Organization (WHO) first-line treatment for severe malaria. It is in a group of drugs known as 'artemisinin derivatives' and is on the WHO Model List of Essential Medicines.However, it was neither FDA-approved nor commercially available in the U.S. Until now, access to investigational IV artesunate had been managed by the Centers for Disease Control and Prevention (CDC) since 2007 via an expanded access investigational new drug (IND) program.The CDC will continue to make the drug available under the CDC-sponsored expanded access IND 76,725, in effect per FDA's authorization since 2007until nationwide availability of Amivas-produced Artesunate for Injection is in place in the next few months.The development of Artesunate for Injection in the US has been under US Army Medical Research and Development Command (USAMRDC).The FDA approval will allow Amivas to now manufacture, distribute, and commercialize Artesunate for Injection and is completing set-up of a nationwide product distribution network.Malaria is a parasitic disease transmitted by a mosquito bite. People with malaria often experience fever, chills and flu-like illness, and without appropriate treatment, they may develop severe complications, such as kidney failure, seizures, mental confusion, coma and death.According to the Centers for Disease Control and Prevention (CDC), an estimated 2,000 cases of malaria are diagnosed in the United States each year, with 300 of those infected having severe disease.IV artesunate was approved by the FDA after its safety and efficacy for the treatment of severe malaria was primarily evaluated in a randomized controlled trial in Asia (Trial 1) and a supportive published randomized controlled trial in Africa (Trial 2).Trial 1 enrolled 1,461 patients who received either IV artesunate or the comparator drug quinidine and included 202 pediatric patients younger than 15 years. Trial 2 included 5,425 randomized pediatric patients younger than 15 years of age with severe malaria who were treated with artesunate or quinidine.In both trials, the number of patients treated with IV artesunate who died in the hospital was significantly lower than the number who died in the control group treated with quinidine.The FDA granted this application Priority Review designation and Orphan Drug designation, which provides expedited time frame as well as incentives to assist and encourage the development of drugs for rare diseases.Copyright RTT News/dpa-AFX
27.05.2020

WarnerMedia's Streaming Platform HBO Max Now Available To AT&T Customers

DALLAS (dpa-AFX) - AT&T Communications said WarnerMedia's streaming platform HBO Max is now available to its customers in the United States. The customers who have HBO now instantly have access to HBO Max at no additional charge. The company said its customers on AT&T wireless, video and internet plans will now get HBO Max - a $14.99 per month value.HBO Max is a streaming platform from WarnerMedia that includes all of HBO together with movies, TV shows and new Max Originals. HBO Max includes approximately 10,000 hours of curated premium content from WarnerMedia's brands and libraries: Warner Bros., New Line Cinema, DC, TBS, TNT, Cartoon Network, Crunchyroll, Rooster Teeth, and Looney Tunes.HBO Max is currently only supported in the U.S. and certain U.S. territories. WarnerMedia is targeting 50 million domestic subscribers and 75 - 90 million premium subscribers by year-end in 2025 across the U.S., Latin America and Europe. WarnerMedia said users can access HBO Max through supported devices, including Android phones and tablets, Android TV including Sony Android TVs (2016 models and later), Apple devices (iPhone, iPad, iPod touch, Apple TV 4K and Apple TV HD), Chromecast and Chromecast built-in devices, computers (Chromebooks, PC and Mac browsers), select Samsung Smart TVs (models 2016-2020), PlayStation 4 systems, and Xbox One.Copyright RTT News/dpa-AFX
27.05.2020

RCI Hospitality Re-opens 32 Locations

WASHINGTON (dpa-AFX) - RCI Hospitality Holdings Inc. (RICK) said that it has reopened 32 locations with the easing of COVID-19 pandemic related restrictions.As of on May 22, all 10 Bombshells restaurants, which are based in Texas, moved to 50% interior occupancy with no outdoor patio restrictions from 25% with no patio restrictions. Also, as of Friday, 22 of 38 club locations had reopened. In Texas, 21 reopened to limited capacity and schedules. In Arizona, the Phoenix location reopened to 50% occupancy.Copyright RTT News/dpa-AFX
27.05.2020

Ralph Lauren Suspends Future Financial Guidance Amid COVID-19

WASHINGTON (dpa-AFX) - While reporting its financial results for the fourth quarter on Wednesday, luxury fashion house Ralph Lauren Corp. (RL) said it is suspending all future guidance, due to the high level of uncertainty and evolving situation surrounding COVID-19 pandemic.The company added that it expects financial results for the first quarter and full-year 2021 to be significantly negatively impacted by the pandemic. Though the timing and path of recovery in each market presents many uncertainties, it has developed scenarios through which it plans to safely return its businesses to growth and value creation.The company has previously also halted any incremental share repurchases during the COVID-19 crisis, having completed its repurchase program in fiscal 2020. It has also temporarily suspended quarterly cash dividend.Copyright RTT News/dpa-AFX
27.05.2020

U.S. Stocks Show Strong Move To The Upside

WASHINGTON (dpa-AFX) - Following the advance seen in the previous session, stocks saw further upside during the trading day on Wednesday. With the upward move on the day, the Nasdaq reached its best closing level in over three months, while the Dow and the S&P 500 ended the session at their best closing levels since early March.The Dow surged up 553.16 points or 2.2 percent to 25,548.27, the Nasdaq climbed 72.14 points or 0.8 percent to 9,412.36 and the S&P 500 jumped 44.36 points or 1.5 percent to 3,036.13.The strength on Wall Street came as traders continued to express optimism about a quick economic recovery as the country reopens following the coronavirus lockdown.Financial stocks helped to lead the way higher on the day, with the KBW Bank Index and the NYSE Arca Broker/Dealer Index spiking by 6.7 percent and 5.1 percent, respectively.Substantial strength was also visible among housing stocks, as reflected by the 5.1 percent jump by the Philadelphia Housing Sector Index.Steel, oil service, tobacco and telecom stocks also saw considerable strength, moving higher along with most of the other major sectors.In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Wednesday. Japan's Nikkei 225 Index advanced by 0.7 percent, while China's Shanghai Composite Index fell by 0.3 percent.Meanwhile, the major European markets all showed strong moves to the upside on the day. While the French CAC 40 Index surged up by 1.8 percent, the German DAX Index and the U.K.'s FTSE 100 Index both jumped by 1.3 percent.In the bond market, treasuries moved higher over the course of the session after seeing initial weakness. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 1.8 basis points to 0.680 percent.Copyright RTT News/dpa-AFX
27.05.2020

Swiss Market Ends Notably Lower

BRUSSELS (dpa-AFX) - The Swiss market ended notably lower on Wednesday, bucking the largely positive trend seen across Europe on Wednesday, as investors stayed cautious after recent reports raised uncertainty about the country's near term economic outlook.The benchmark SMI ended down 114.31 points, or 1.16%, at 9,716.52, about 43 points off the session's low of 9,673.15. The index, which touched a high of 9,856.91 in early trades, spent very few minutes in positive territory during the day's session.Sika plunged 6.6% on news France's Saint Gobain is selling a $2.8 billion stake in the company.Lonza Group shares declined 4.7% and Roche Holding ended down 3.6%. Roche announced that a new port delivery system for its eye drug Lucentis was as good as monthly injections against blindness-causing macular degeneration.Givaudan and Alcon lost 2.6% and 2.4%, respectively. Swisscom, Geberit, Novartis and Netle lost 1.2 to 1.6%.Credit Suisse rallied 5.4% and UBS Group ended 3.8% up. Swiss Re, Zurich Insurance Group, LafargeHolcim and Swiss Life Holding gained 1.5 to 2.1%, while Adecco moved up 1.25%.In the midcap section, Logitech, Vifor Pharma, BB Biotech, Sonova and Temenos Group lost 4 to 5%. VAT Group and Straumann Holding declined 3.4% and 3.2%, respectively. On the other hand, Dufry gained 3.1%, extending recent gains. OC Oerlikon Corp ended nearly 3% up. Georg Fischer and Dorma Kaba Holding gained 2.35% and 2.2%, respectively.Barry Callebaut shares gained about 0.75%. The company announced that it has signed a deal to buy Australian firm GKC Foods, which is engaged in making chocolate, coatings and fillings. The acquisition will give the Swiss firm direct presence and manufacturing site in Australia, and enable it to cater to growing local and New Zealand markets.Most of the markets across Europe closed higher today, riding on the European Commission's launch of a massive 750 billion Euro relief package to support the euro area economy.Among the major European indices, the pan European Stoxx 600 ended up 0.24%. The U.K.'s FTSE 100 gained 1.26%, Germany's DAX climbed up 1.33% and France's CAC 40 advanced 1.79%.Copyright RTT News/dpa-AFX
27.05.2020

European Stocks Close Notably Higher After EC Announces Massive Stimulus Plan

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets closed on a strong note on Wednesday, buoyed by the European Commission's plan to launch a massive recovery fund for the euro region to help limit the damage inflicted by the coronavirus pandemic.The European Commission's move comes close on the heels of last week's proposal from Germany and France regarding raising a common European debt to help the region's economic recovery.The European Commission announced a €750 billion ($821 billion) aid package to help the EU recover from the coronavirus pandemic. The plan will have to be backed by all 27 nations in the bloc.In a statement on its website, the EU governing body proposed the creation of a new recovery instrument, dubbed Next Generation EU, to address the economic damage caused by the outbreak.According to the statement, Next Generation EU will consist of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027, and will bring the total financial firepower of the EU budget to €1.85 trillion. The recovery fund would be embedded within the next long-term EU budget, it added.France and Germany last week proposed a set-up for a 500 billion-euro ($547 billion) fund to aid recovery efforts.The pan European Stoxx 600 ended up 0.24%. Among the major indices in Europe, the U.K.'s FTSE 100 gained 1.26%, Germany's DAX climbed up 1.33% and France's CAC 40 advanced 1.79%, while Switzerland's SMI tumbled 1.16%.Among other markets in Europe, Austria, Belgium, Finland, Greece, Spain, Sweden and Turkey ended sharply higher. Czech Republic, Ireland, Norway and Portugal posted modest gains. Denmark declined sharply. Netherlands, Poland and Russia ended modestly lower. In the U.K. market, TUI soared 15.5% amid prospects of lifting of travel restrictions in Europe.Melrose spurted 12% and Meggitt surged up 10.5%. M&G, Rolls-Royce Holdings, St. James, British Land Company, Barclays, Carnival and Standard Life gained 7 to 10%.Royal Bank, EasyJet, IAG, Hiscox, Lloyds Banking Group, JD Sports Fashion, Coca-Cola, Aviva and Bunzi closed stronger by 5 to 6.75%.On the other hand, Barratt Developments, AstraZeneca, Ocado Group, Aveva and Ashtead Group declined sharply.In Germany, Daimler rallied nearly 9%, Covestro surged up 6.7% and BMW gained nearly 5%. Continental, BASF, HeidelbergCement, Deutsche Bank, Allianz, Wirecard, Volkswagen and Beiersdorf climbed up 2.5 to 4.5%. Volkswagen, Deutsche Post and Deutsche Telekom also rose sharply. Infineon Technologies shares tumbled nearly 5%. Merck and Fresenius Medical Care lost 2.5% and 2.3%, respectively. In the French market, Renault zoomed nearly 18%. BNP Paribas surged up 8.8%, while Publicis Groupe and Societe Generale gained 7.2% and 6.5%, respectively. Credit Agricole, Michelin, Peugeot, Essilor, Unibail Rodamco, Sodexo, Kering, Vinci and Engie also ended sharply higher. STMicroElectronics tumbled more than 5%. Worldline, Airbus Group and Capgemini were the other major losers in the CAC 40 index.Data from the statistical office Insee showed French consumer confidence weakened to a 16-month low in May as households were concerned about general economic conditions amid coronavirus pandemic.The consumer sentiment index fell to 93 in May from 95 in April. The score remained well below its long-term average of 100. This was the lowest since January 2019, when the score was 92.European Central Bank President Christine Lagarde said the euro area economy is likely to contract as much as 12 percent in 2020 as member countries struggle to emerge from the coronavirus pandemic.The currency bloc had contracted 3.8 percent in the first quarter, which was the biggest contraction since the series began in 1995.In March, the ECB had launched a new EUR 750 billion Pandemic Emergency Purchase Programme to combat the risks posed by coronavirus, or Covid-19.The governing council of the ECB meets next on June 4. The bank will update its outlook for both growth and inflation next week.Copyright RTT News/dpa-AFX
27.05.2020

Wall Street Might Open Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial cues from the U.S. Futures Index are clearly showing a higher open for Wall Street. Asian shares finished mixed, while European shares are trading positive. The major indices are trying to gain on Wednesday. The coronavirus pandemic continues to be troubling 214 countries and territories across the globe. The death toll in the U.S. is 98,929, with total infections of 1,681,418. As of 8.15 am ET, the Dow futures were adding 344.00 points, the S&P 500 futures were up 32.00 points and the Nasdaq 100 futures were gaining 35.25 points.U.S. stocks rallied overnight. The Dow Jones Industrial Average climbed 2.2 percent and the S&P 500 gained 1.2 percent, while the tech-heavy Nasdaq Composite edged up 0.2 percent.On the economic front, the Redbook data for the week will be issued at 8.55 am ET. In the prior week, the Store sales were down 9.5 percent. Richmond Fed's Manufacturing Index for May will be released at 10.00 am ET. The consensus is for a decline of 39, while it was down 53 in the previous month. State Street Investor Confidence Index for May will be published at 10.00 am ET. In the prior month, the Confidence Index was 73.0.Survey of Business Uncertainty report for May will be issued at 11.00 am ET. In the prior month, the Index was up 222.5. Two-year floating-rate note or FRN auction will be held at 11.30 am ET. Five-year Treasury Note auction will be held at 1.00 pm ET. The Beige Book, which is produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee, will be published at 2.00 pm ET. St. Louis Federal Reserve Bank President James Bullard will speak at the CD Howe Institute on the 'View on the Pandemic from Onset to Reopening the Economy,' at 12.30 am ET.Asian stocks ended mixed on Wednesday. Chinese shares ended modestly lower. The benchmark Shanghai Composite index dropped 9.74 points, or 0.34 percent, to 2,836.80, while Hong Kong's Hang Seng index fell 0.36 percent to 23,301.36.Japanese shares hit a three-month high. The Nikkei average climbed 148.06 points, or 0.70 percent, to 21,419.23, its highest closing level since February 28. The broader Topix index added 0.96 percent to finish at 1,549.47, its highest level since February 27.Australian markets ended little changed with a negative bias at 0.08 percent change. On the economic front, the total value of construction work done in Australia was down a seasonally adjusted 1.0 percent sequentially in the first quarter of 2020, data showed. European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is adding 88.47 points or 1.92 percent. The German DAX is gaining 218.73 points or 1.91 percent, the U.K. FTSE 100 Index is progressing 82.12 points or 1.36 percent. The Swiss Market Index is declining 37.97 points or 0.38 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 1.94 percent.Copyright RTT News/dpa-AFX
27.05.2020

European Shares Rally On Stimulus Optimism

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks rallied on Wednesday to extend gains from the previous session amid hopes that Japan and Europe will unveil large stimulus packages to minimize the economic fallout due to the coronavirus pandemic. The Japanese government is likely to inject a fresh stimulus package worth $1.1 trillion on top of a $1.1 trillion package already rolled out by the government last month.The European Commission is due to present its proposal for a bailout package, potentially backing efforts by France and Germany for a 500 billion-euro ($547 billion) fund to aid recovery efforts. European Central Bank President Christine Lagarde said on a question and answer session today that the euro zone economy is likely to shrink between 8 percent and 12 percent this year.The pan European Stoxx 600 rose about 1 percent to 352.30 after climbing 1.1 percent on Tuesday. The German DAX jumped 1.7 percent, France's CAC 40 index rallied 1.9 percent and the U.K.'s FTSE 100 was up 1.5 percent. Finnish tyre maker Nokian Tyres soared 17 percent after naming a new chief executive officer.Lender Commerzbank surged 7.7 percent after launching a program to issue additional tier 1 (AT1) capital.Property company LEG Immobilien rose about 1 percent on reports it is in talks with rival TAG Immobilien AG about a potential merger. Travel operator TUI AG jumped 23 percent after Spain urged foreign visitors to return starting in July.easyJet rose 1.2 percent and International Consolidated Airlines Group advanced 6 percent.Investment trust Caledonia Investments gained 2 percent after raising its dividend. Britvic surged 4.6 percent. The producer of soft drinks said that it is 'confident' in its long-term strategy following the pandemic.Swiss drug maker Roche declined 1.4 percent. Chief Executive Severin Schwan said the company is looking beyond cancer drugs to fresh treatment areas.Chipmaker Infineon Technologies gave up 1.9 percent after it raised about 1.06 billion euros ($1.16 billion) by issuing new shares.Sika AG lost 5.4 percent after French building-materials maker Cie. de Saint-Gobain sold a near 11 percent stake worth 2.56 billion Swiss francs in the Swiss specialty chemical company.Property development and investment company Hammerson fell 2.6 percent after its CEO David Atkins resigned.Copyright RTT News/dpa-AFX
27.05.2020

FTSE 100 Rallies On Signs Of Travel Resumption

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose sharply on Wednesday as travel-related shares extended gains from the previous session on optimism over the reopening of European economies. Talk of more stimulus from Japan and Europe also bolstered sentiment. The benchmark FTSE 100 jumped 94 points, or 1.54 percent, to 6,161 after rising 1.2 percent on Tuesday. Travel operator TUI AG soared 23 percent after Spain urged foreign visitors to return starting in July.easyJet rose 1.2 percent and International Consolidated Airlines Group advanced 6 percent. Investment trust Caledonia Investments gained 2 percent after raising its dividend. Britvic surged 4.6 percent. The producer of soft drinks said that it is 'confident' in its long-term strategy following the pandemic.Property development and investment company Hammerson fell 2.6 percent after its CEO David Atkins resigned.Copyright RTT News/dpa-AFX
27.05.2020

CAC 40 Up 68 Points On Hopes Of Stimulus

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rallied on Wednesday to extend gains from the previous session amid hopes that Japan and Europe will unveil large stimulus packages to minimize the economic fallout due to the coronavirus pandemic. The Japanese government is likely to inject a fresh stimulus package worth $1.1 trillion on top of a $1.1 trillion package already rolled out by the government last month.The European Commission is due to present its proposal for a bailout package, potentially backing efforts by France and Germany for a 500 billion-euro ($547 billion) fund to aid recovery efforts. European Central Bank President Christine Lagarde said on a question and answer session today that the euro zone economy is likely to shrink between 8 percent and 12 percent this year.The benchmark CAC 40 jumped 68 points, or 1.48 percent, to 4,673 after rallying 1.5 percent the previous day. Banks led the surge, with BNP Paribas, Credit Agricole and Societe Generale climbing 6-9 percent. Automaker Renault soared 14 percent and Peugeot added 7 percent. Drug maker Sanofi slid half a percent on news it plans to sell its equity investment in Regeneron through a registered public offering and related share repurchase by Regeneron.Building-materials maker Cie. de Saint-Gobain SA gained 0.7 percent after it sold a near 11 percent stake worth 2.56 billion Swiss francs in Sika AG. In economic releases, French consumer confidence weakened to a 16-month low in May as households were concerned about general economic conditions amid coronavirus pandemic, survey results from the statistical office Insee showed. The corresponding index fell to 93 in May from 95 in April.Copyright RTT News/dpa-AFX
27.05.2020

DAX Extends Gains On Stimulus Hopes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose sharply on Wednesday, with underlying sentiment underpinned by expectations the European Union will announce a massive stimulus program to help the region's economy recover from its coronavirus slump.The European Commission is expected to announce a multi-billion-euro recovery plan exceeding 1 trillion euros later today. The benchmark DAX rallied 147 points, or 1.29 percent, to 11,653 after gaining 1 percent in the previous session.Chipmaker Infineon Technologies dropped 1.8 percent after it raised about 1.06 billion euros ($1.16 billion) by issuing new shares.Lender Commerzbank surged 5.9 percent after launching a program to issue additional tier 1 (AT1) capital.Property company LEG Immobilien rose over 1 percent on reports it is in talks with rival TAG Immobilien AG about a potential merger. Travel operator TUI AG jumped 23 percent after Spain urged foreign visitors to return starting in July.Copyright RTT News/dpa-AFX
27.05.2020

Asian Shares Mixed Amid Hong Kong Unrest

CANBERA (dpa-AFX) - Asian stocks ended mixed on Wednesday as worries about rising U.S.-China tensions offset optimism about the reopening of economies across the world. The Bloomberg reported that the U.S. is considering a range of economic sanctions on Chinese officials and companies over the situation in Hong Kong. Chinese shares ended modestly lower after official data showed the country's industrial profits declined at a much slower pace in April.Industrial profits dropped 4.3 percent on a yearly basis, following a sharp 34.9 percent decrease in March. During January to April period, industrial profits decreased 27.4 percent from the same period last year compared to 36.7 percent fall in the first three months of 2020.The benchmark Shanghai Composite index dropped 9.74 points, or 0.34 percent, to 2,836.80, while Hong Kong's Hang Seng index fell 0.36 percent to 23,301.36.Thousands of protesters shouted pro-democracy slogans and insulted at police in Hong Kong ahead of a debate over a bill that would criminalize disrespect of China's national anthem.Beijing has reportedly expanded the scope of the draft national security legislation to include banning not just behavior or acts that endanger national security, but also activities.Japanese shares hit a three-month high as speculative short-covering by macro hedge funds boosted financials. The Nikkei average climbed 148.06 points, or 0.70 percent, to 21,419.23, its highest closing level since February 28. The broader Topix index added 0.96 percent to finish at 1,549.47, its highest level since February 27.Banks Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial rallied 2-4 percent. Dai-ichi Life Holdings surged 6.3 percent and Nomura Holdings advanced 5.7 percent. Tech stocks fell, with Advantest down 2.7 percent and Tokyo Electron losing 3.6 percent.Australian markets recovered from an early slide to end little changed with a negative bias. National Australia Bank, the country's third-largest lender, soared 7.8 percent after saying it would increase the size of its share purchase plan offer by A$750 million ($498.60 million). The other three big banks surged 5-9 percent. Miners paced the decliners, with BHP, Rio Tinto and Fortescue Metals Group losing 2-5 percent. Gold miners succumbed to heavy selling pressure as gold hovered near a two-week low in the wake of improved risk appetite on hopes for economic recovery. Evolution Mining slumped 8.5 percent, Newcrest lost 7.2 percent and Northern Star Resources plunged nearly 11 percent. Shares of vitamins producer Blackmores entered a trading halt ahead of a capital raising.On the economic front, the total value of construction work done in Australia was down a seasonally adjusted 1.0 percent sequentially in the first quarter of 2020, data showed. That exceeded expectations for a decline of 1.5 percent, following the 3.0 percent drop in the three months prior.Seoul stocks fluctuated before ending on a flat note after U.S. President Donald Trump said the country was working on a strong response to China's planned national security legislation for Hong Kong, without giving further details.New Zealand shares advanced after the Reserve Bank of New Zealand said that banks in the country have strong buffers of capital and liquidity to weather the significant economic impact caused by the coronavirus pandemic. The benchmark NZX-50 index ended up 134.45 points, or 1.23 percent, at 11,049.19, with dual-listed banks leading the surge. ANZ surged 11.9 percent and Westpac Banking Corp jumped 10.9 percent. U.S. stocks rallied overnight as all 50 states partially eased lockdown restrictions and JPMorgan CEO Jamie Dimon made some optimistic comments about the economic recovery and the health of his bank.The Dow Jones Industrial Average climbed 2.2 percent and the S&P 500 gained 1.2 percent, while the tech-heavy Nasdaq Composite edged up 0.2 percent.Copyright RTT News/dpa-AFX
27.05.2020

European Shares Seen Higher Despite US-China Tensions

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks look set to open higher on Wednesday as investors weigh hopes of economic recovery against rising U.S.-China tensions.U.S. President Donald Trump said late on Tuesday the country was working on a strong response to China's planned national security legislation for Hong Kong, without giving further details. He indicated that details would be released before the end of the week.In Hong Kong, hundreds of riot police ringed the city's legislature to stifle any protests ahead of a debate over a bill that would criminalize disrespect of China's national anthem.Beijing has reportedly expanded the scope of the draft national security legislation to include banning not just behavior or acts that endanger national security, but also activities.Elsewhere, the Bloomberg reported that Japan is compiling a new stimulus package of 117.1 trillion yen ($1 trillion), including 31.9 trillion yen of spending.Asian markets traded mostly higher and the dollar gained ground, while gold held near a two-week low. Oil prices were flat to slightly lower on demand worries.In economic releases, consumer and business sentiment survey results from France are due later in the session, headlining a light day for the European economic news.U.S. stocks rallied overnight as all 50 states partially eased lockdown restrictions and JPMorgan CEO Jamie Dimon made some optimistic comments about the economic recovery and the health of his bank.The Dow Jones Industrial Average climbed 2.2 percent and the S&P 500 gained 1.2 percent, while the tech-heavy Nasdaq Composite edged up 0.2 percent.European markets closed higher on Tuesday as green shoots of economic recovery emerged and investors tracked positive developments in the race for a Covid-19 vaccine. The pan European Stoxx 600 advanced 1.1 percent. The German DAX rose 1 percent, France's CAC 40 index surged 1.5 percent and the U.K.'s FTSE 100 added 1.2 percent.Copyright RTT News/dpa-AFX
27.05.2020

Euro Higher As EU Unveils Recovery Package

CANBERA (dpa-AFX) - The euro moved up against its key counterparts in the European session on Wednesday, as investors await a stimulus plan from the European Union to support the bloc from the economic downturn caused by the coronavirus pandemic.European Union Economy Commissioner Paolo Gentiloni said that the Commission is proposing a EUR 750 billion recovery fund.The stimulus package will consist of €500 billion in non-repayable grants and €250 billion in loans.European Commission President Ursula von der Leyen is due to present the proposal in the Parliament.The EC has received the backing of Germany and France for €500 billion recovery fund last week.European Central Bank President Christine Lagarde said the euro area economy is likely to contract as much as 12 percent in 2020 as member countries struggle to emerge from the coronavirus pandemic.On a live webinar, Lagarde said that the actual economic outcome would come between the ECB's 'medium' and 'severe' scenarios. The mild scenario is outdated.The euro firmed to 1.1031 against the greenback, strongest level since April 1. On the upside, 1.12 is possibly seen as the next resistance level for the currency. The euro advanced to near a 3-month high of 1.0698 against the franc and near a 2-month high of 118.91 against the yen, after falling to 1.0589 and 117.71, respectively. Next key resistance for the euro is seen around 1.10 against the franc and 121.00 against the yen.The EUR/GBP pair was up at a 5-day high of 0.8961, after having dropped to 0.8889 earlier in the session. Should the currency rises further, 0.92 is possibly seen as its next resistance level.The euro rose to 1.5152 against the loonie, from near a 4-week low of 1.5055 seen at 5:00 am ET. The euro is seen finding resistance around the 1.55 region.Reversing from early more than a 2-week low of 1.7625 against the kiwi and a 2-month low of 1.6454 against the aussie, the euro recovered to 1.7736 and 1.6577, respectively. The euro is likely to find resistance around 1.84 against the kiwi and 1.70 against the aussie.Looking ahead, Fed's Beige book report is set for release in the New York session.Copyright RTT News/dpa-AFX
27.05.2020

Dollar Climbs As U.S.-China Tensions Escalate

CANBERA (dpa-AFX) - The U.S. dollar appreciated against its key counterparts in the Asian session on Wednesday, amid rising tensions between Washington and Beijing after a media report that the Trump administration is mulling fresh sanctions on China.Bloomberg reported that the Treasury Department is weighing economic sanctions on Chinese officials, businesses and financial institutions, if a proposed Chinese crackdown goes ahead.U.S. President Donald Trump said late on Tuesday the country was working on a strong response to China's planned national security legislation for Hong Kong, without giving further details. He indicated that details would be released before the end of the week.In Hong Kong, hundreds of riot police ringed the city's legislature to stifle any protests ahead of a debate over a bill that would criminalize disrespect of China's national anthem.Beijing has reportedly expanded the scope of the draft national security legislation to include banning not just behavior or acts that endanger national security, but also activities.Investors await regional factory figures and the Federal Reserve's 'beige book' of economic conditions due later in the day. The greenback rose to 1.2304 against the pound, from a low of 1.2339 hit at 5:15 pm ET. The greenback is seen finding resistance around the 1.21 level.The greenback edged up to 1.0951 against the euro, after falling to 1.0985 at 7:30 pm ET. The greenback is likely to find resistance around the 1.08 level.The USD/CHF pair was trading higher at 0.9673. On the upside, 1.00 is likely seen as its next resistance level.The greenback ticked up to 0.6631 against the aussie and 0.6179 against the kiwi and held steady thereafter. If the greenback rises further, 0.62 and 0.585 are likely seen as its next resistance levels against the aussie and the kiwi, respectively. The greenback recovered to 107.62 against the yen, from a 5-day low of 107.37 set earlier in the session. Next key resistance for the greenback is seen around the 112.00 mark. In contrast, the greenback fell against the loonie with the pair trading at 1.3780. The currency may locate support around the 1.33 level.Looking ahead, Canada building permits for April and Fed's Beige book report are set for release in the New York session.Copyright RTT News/dpa-AFX
26.05.2020

Dollar Exhibits Weakness Against Major Currencies

WASHINGTON (dpa-AFX) - The U.S. dollar was weak against its major rivals on Tuesday as risk sentiment improved significantly amid gradual reopening of businesses across the world after several weeks of lockdown.While Spain decided to remove a two-week mandatory confinement for all travelers from overseas starting July, Greece reopened restaurants and cafes by imposing new social distancing rules and other health safety measures.The Japanese government fully lifted the state of emergency on Monday and urged people to adapt to a 'new normal'.U.K. Prime Minister Boris Johnson announced plans to reopen outdoor markets and car showrooms on June 1 and non-essential shops from mid-June.The state of California lifted restrictions on houses of worship and mall, but personal services such as hair salons, nail salons and barbershops will remain closed.News that US biotech firm Novavax had begun trials for an experimental coronavirus vaccine also bolstered sentiment.The dollar index dropped to a low of 98.86 in late afternoon trades, and was last seen at 99.00, down nearly 0.9% from previous close.The Euro was stronger against the dollar with a unit fetching $1.0986, compared to previous close of $1.0899.Against Pound Sterling, the dollar weakened to $1.2338 from $1.2187, and against the Japanese currency, it was down marginally at 107.54 yen a dollar.The Aussie was stronger with a unit fetching $0.6659 as against $0.6546 on Friday.Against the Swiss franc, the dollar was down at CHF 0.9655, lower by about 0.65% from previous close of CHF 0.9719.The Loonie was pretty stronger at C$1.3776, firming up from C$1.3985.In U.S. economic news, new homes sales unexpectedly rose 0.6% month-over-month to an annualized rate of 623,000, beating forecasts of a 21.9% drop.Copyright RTT News/dpa-AFX
26.05.2020

Pound Higher On U.K Lockdown Easing, Haldane's Comments

BRUSSELS (dpa-AFX) - The pound drifted higher against its key counterparts in the European session on Tuesday, after the Bank of England's Chief Economist remarked that the latest economic data were 'a shade better' than the scenario published by the central bank earlier this month and as the EU reportedly prepared to grant concessions to the UK on fisheries' stance.Speaking in an webinar organised by the Confederation of British Industry, BOE Chief Economist Andy Haldane said that the UK central bank has not reached remotely a view on taking interest rate negative so far.The latest surveys suggest a modest recovery in consumer spending and business sentiment.'This is perhaps still a V-recovery but a lopsided V and risks are of protracted recovery,' he added.Media reports suggested that the European Union is willing to shift its demands on fisheries in negotiations with Britain next week.The EU is prepared for a potential compromise on fisheries in talks next week, it said.Prime minister Boris Johnson on Monday said that he will allow outdoor markets and car showrooms to reopen from June 1, if they put appropriate safety measures in place. The restrictions on non-essential shops will be lifted from June 15, unless the outlook worsens on the spread of virus.The pound appreciated to 2-week highs of 1.2351 against the greenback and 132.82 against the yen, after falling to 1.2177 and 131.18, respectively in early deals. The currency is likely to face resistance around 1.25 against the greenback and 135.00 against the yen.The pound approached a 1-week high of 1.1933 against the franc and near a 2-week high of 0.8883 against the euro, compared to its early lows of 1.1829 and 0.8941, respectively. The currency is seen finding resistance around 1.21 against the franc and 0.86 against the euro.Copyright RTT News/dpa-AFX
26.05.2020

Dollar Little Changed After U.S. Housing Reports

BRUSSELS (dpa-AFX) - The Federal Housing Finance Agency's house price index and S&P/Case-Shiller home price index for March have been released at 9:00 am ET Tuesday. Following the data, the greenback changed little against its major counterparts. The greenback was trading at 107.45 against the yen, 0.9660 against the franc, 1.2345 against the pound and 1.0974 against the euro around 9:02 am ET.Copyright RTT News/dpa-AFX
26.05.2020

U.S. Dollar Falls On Hopes For Global Recovery

CANBERA (dpa-AFX) - The U.S. dollar lost ground against its most major counterparts in the European session on Tuesday, as gradual reopening of businesses worldwide after the coronavirus-incurred economic lockdowns bolstered sentiment.While Spain decided to remove a two-week mandatory confinement for all travelers from overseas starting July, Greece reopened restaurants and cafes by imposing new social distancing rules and other health safety measures.The Japanese government fully lifted the state of emergency on Monday and urged people to adapt to a 'new normal'.U.K. Prime Minister Boris Johnson announced plans to reopen outdoor markets and car showrooms on June 1 and non-essential shops from mid-June.The state of California lifted restrictions on houses of worship and mall, but personal services such as hair salons, nail salons and barbershops will remain closed.News that US biotech firm Novavax had begun trials for an experimental coronavirus vaccine also supported sentiment.Economic data on U.S. new home sales and consumer confidence are due out at 10:00 am ET. The USD/CHF pair was trading at 0.9658, setting a 5-day low. On the downside, 0.99 is likely seen as its next support level.The greenback declined to 1.2343 against the pound, its lowest level since May 12. Against the euro, the greenback hit a 5-day low of 1.0980. If the dollar extends decline, 1.25 and 1.12 are likely seen as its next support levels against the pound and the euro, respectively.The greenback fell to near a 3-month low of 0.6637 against the aussie, more than 2-month lows of 0.6196 against the kiwi and 1.3837 against the loonie, off its previous highs of 0.6538, 0.6294 and 1.3986, respectively. The greenback is likely to face support around 0.70 against the aussie, 0.64 against the kiwi and 1.33 against the loonie.The greenback depreciated to a 2-day low of 107.40 against the yen, pulling away from a 6-day high of 107.92 seen at 9:30 pm ET. The greenback is seen finding support around the 106.5 region.Governor Haruhiko Kuroda said that the Bank of Japan will not hesitate to take additional easing measures if required as the novel coronavirus, or Covid-19, depressed global activity.Japan's economy has been in an increasingly severe situation due to the impact of the spread of Covid-19 at home and abroad, Kuroda said in a semi-annual testimony to parliament.U.S. FHFA's house price index and S&P/Case-Shiller home price index for March, new home sales for April and consumer sentiment index for May are due out in the New York session.Copyright RTT News/dpa-AFX
26.05.2020

Australian, NZ Dollars Higher On Economic Recovery Hopes

CANBERA (dpa-AFX) - The Australian and NZ dollars firmed against their major counterparts in the Asian session on Tuesday on optimism over economic recovery as countries such as Japan and Spain ease lockdown restrictions.News that U.S. biotech firm Novavax has commenced the first human trial of its experimental coronavirus vaccine also bolstered sentiment.The Spanish government said it would scrap a 2-week mandatory confinement for all travelers arriving from overseas starting July 1.Gyms and swimming pools reopened in Germany, Iceland and Italy. Greece reopened restaurants and cafes while allowing travel to all the islands.Japanese Prime Minister Shinzo Abe on Monday lifted the state of emergency in the country and said he would work to increase the government's stimulus packages to more than 200 trillion yen ($1.9 trillion), or a whopping 40 percent of the country's GDP.As countries ease up on lockdowns, there are risks on an 'immediate second peak', the World Health Organization said and urged governments in Europe and the U.S. to step up surveillance, testing and tracking measures to keep the disease under control.Meanwhile, in Hong Kong, national security legislation for Hong Kong will not change the 'one country, two systems' policy, Commissioner of the Chinese foreign ministry in the Hong Kong Special Administrative Region (HKSAR) Xie Feng emphasized on Monday.'It will not change the capitalist system or the high degree of autonomy of Hong Kong. It will not change the legal system in the HKSAR. Nor will it affect the independent judicial power, including that of final adjudication, exercised by the judiciary in Hong Kong.'Data from Statistics New Zealand showed that New Zealand's trade surplus widened in April as imports declined faster than exports.The trade surplus increased to NZ$1.3 billion in April from NZ$0.722 billion in March.The kiwi climbed to more than a 2-month high of 66.34 against the yen, 6-day high of 0.6152 against the greenback and a 2-week high of 1.7780 against the euro, from its early lows of 65.64, 0.6094 and 1.7880, respectively. The next likely resistance for the kiwi is seen around 71.00 against the yen, 0.64 against the greenback and 1.72 against the euro.The kiwi recovered to 1.0714 against the aussie, from a 5-day low of 1.0740 seen at 9:00 pm ET. If the kiwi rises further, 1.06 is seen as its next resistance level. Reversing from its early lows of 0.6538 against the greenback, 70.41 against the yen and 1.6667 against the euro, the aussie climbed to a 5-day high of 0.6593, near 3-month high of of 71.11 and a new 2-week high of 1.6580, respectively. The aussie may face resistance around 0.70 against the greenback, 74.00 against the yen and 1.61 against the euro.The aussie appreciated to 0.9183 against the loonie, its highest level since May 20. On the upside, 0.94 is likely seen as its next resistance level.The yen weakened to a 4-day low of 117.97 against the euro, 5-day low of 111.24 against the franc and a 6-day low of 132.33 against the pound, off its early highs of 117.29, 110.72 and 131.18, respectively. The yen is likely to find support around 119.5 against the euro, 114.00 against the franc and 135.00 against the pound.The yen declined to a 6-day low of 107.92 against the greenback and held steady thereafter. On the downside, 112.00 is possibly seen as the next support level for the yen. Looking ahead, U.S. FHFA's house price index and S&P/Case-Shiller home price index for March, new home sales for April and consumer sentiment index for May are due out in the New York session.Copyright RTT News/dpa-AFX
26.05.2020

Franc Mixed After Swiss Foreign Trade Data

BRUSSELS (dpa-AFX) - Swiss foreign trade data has been released at 2.00 am ET Wednesday. The franc traded mixed against its major rivals after the data. While it changed little against the greenback and the yen, it fell against the pound and the euro.The franc trading at 0.9708 against the greenback, 111.07 against the yen, 1.0607 against the euro and 1.1874 against the pound around 2:05 am ET.Copyright RTT News/dpa-AFX
26.05.2020

Euro Ticks Up Vs Most Majors After German GfK Consumer Confidence

BRUSSELS (dpa-AFX) - At 2.00 am ET Tuesday, the market research group Gfk has published German consumer sentiment survey results. The euro traded mixed against its major rivals after the data. While it changed little against the pound, it rose against the rest of major rivals.The euro trading at 1.0924 against the greenback, 117.84 against the yen, 1.0602 against the franc and 0.8934 against the pound around 2:05 am ET.Copyright RTT News/dpa-AFX
26.05.2020

Euro Rises Vs Most Majors Ahead Of German GfK Consumer Confidence Index

BRUSSELS (dpa-AFX) - At 2.00 am ET Wednesday, the market research group Gfk publishes German consumer sentiment survey results. The forward-looking consumer sentiment index is forecast to rise to -18.3 in June from -23.4 in May.Ahead of the data, the euro traded mixed against its major rivals. While it held steady against the pound, it rose against the rest of major rivals.The euro was worth 1.0918 against the greenback, 117.75 against the yen, 1.0599 against the franc and 0.8943 against the pound as of 1:55 am ET.Copyright RTT News/dpa-AFX

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