dpa-AFX NEWSTICKER (product sample)

20.01.2020

BAE To Buy Collins Aerospace's GPS Business; To Acquire Radios From Raytheon

WALTHAM (dpa-AFX) - BAE Systems plc (BA.L) has agreed to acquire Collins Aerospace's Military Global Positioning System business, or GPS business, for $1.925 billion. The GPS business, based in Cedar Rapids, Iowa, is a provider of mission critical military GPS receiver solutions. It is developing the next generation M-Code GPS technologies for the US military.The GPS business has an anticipated revenue CAGR in excess of 10% over the next four years. The acquisition is projected to be to be immediately accretive in terms of margins, earnings and cash. As an asset purchase, BAE Systems expects the deal to result in tax benefit of approximately $365 million. BAE Systems has also agreed to acquire Raytheon's Airborne Tactical Radios business, or Radios business, for $275 million. The Radios business, based in Fort Wayne, Indiana, and Largo, Florida, is a provider of airborne tactical radio solutions. It designs, manufactures and supplies mission-critical communication systems to the US Department of Defense, allied governments and large defence aircraft manufacturers. BAE Systems expects the acquisition of Radios business to be immediately earnings and cash flow accretive, and achieve a return on invested capital in excess of cost of capital in the first full year post completion. As an asset purchase, the deal is projected to result in a tax benefit of approximately $50 million.Charles Woodburn, Chief Executive of BAE Systems said: 'These proposed acquisitions present a unique opportunity to add high quality, technology focused businesses to our Electronics Systems sector.'BAE Systems noted that the completion of these acquisitions are subject to successful closure of the Raytheon-United Technologies Corp. merger.Copyright RTT News/dpa-AFX
20.01.2020

Sanofi Reports Expiration Of HSR Waiting Period For Synthorx Deal

PARIS (dpa-AFX) - Sanofi (SNYNF, SNY) said the waiting period under the HSR Act with respect to the company's proposed acquisition of Synthorx, Inc. (THOR) has expired. The tender offer for Synthorx shares is scheduled to expire on January 22, 2020.The company noted that the consummation of the offer remains subject to various conditions, including the tender of at least a majority of the shares outstanding immediately prior to the expiration of the offer and other customary conditions. The tender offer was commenced On December 23, 2019.Copyright RTT News/dpa-AFX
20.01.2020

Draegerwerk 2019 Preliminary Net Sales Up 7.3%; Sees Weaker Net Sales In 2020

BERLIN (dpa-AFX) - German medical and safety technology provider Draegerwerk AG (DRWKF.PK) reported that its preliminary net sales for fiscal year 2019 rose by about 7.3 percent or about 6.0 percent net of currency effects to 2.78 billion euros from last year.Annual order intake increased by about 4.2 percent or about 3.0 percent net of currency effects.Earnings before interest and taxes or EBIT for fiscal year 2019 were slightly higher than in the prior year. The company expects EBIT margin for 2019 to be between 2.3 percent and 2.5 percent, compared to 2.4 percent in 2018.The company expects somewhat weaker net sales development in the fiscal year 2020.The company expects to see currency-adjusted net sales growth of between 1.0 and 4.0 percent in fiscal year 2020, compared to currency-adjusted net sales growth of around 6.0 percent in 2019.The company expects the gross margin to be roughly on par with the prior year. Due to the current lengthy regulatory approval times and increased uncertainty regarding the timing of market launches for new medical products for the US-market, Draeger forecasts an EBIT margin of between 1.0 and 4.0 percent for the fiscal year 2020.Copyright RTT News/dpa-AFX
17.01.2020

Cardinal Health To Recall Certain Level 3 Surgical Gowns

WASHINGTON (dpa-AFX) - Medical device manufacturer Cardinal Health will soon recall certain Level 3 surgical gowns or PreSource procedural packs that contain these gowns following warning that they may not be sterile, the U.S. Food and Drug Administration said in a statement.The health regulator said it is working with the company to find out the specific product lots that are impacted, as well as to assess scope of potential contamination risk and possible supply chain disruptions or shortages.Cardinal Health on January 11 and again on January 15 alerted its customers to potential quality issues affecting these gowns and the procedural packs. The company said it cannot guarantee that the products are sterile.The company is communicating directly with its customers about the products directly impacted by the quality concern. The FDA said the company will be issuing a recall soon.Surgical gowns that are commonly used during surgical procedures provide moderate to high risk barrier protection. The Level 3 gowns provide moderate risk protection. They are intended to protect both the patient and health care personnel from transfer of microorganisms, body fluids and particulate material.The FDA said the issue may impact patient care at healthcare facilities, such as the cancellation of non-elective surgeries, but it is not aware of any patient harm because of the issue.Copyright RTT News/dpa-AFX
17.01.2020

J.B. Hunt Transport Q4 Profit Rises, But Revenues Miss View; Stock Down

LOWELL (dpa-AFX) - J.B. Hunt Transport Services, Inc. (JBHT) reported that its fourth quarter net earnings increased to $144.7 million or $1.35 per share from $88.7 million or $0.81 per share in the previous year. The prior year results included pretax charges of $134.0 million for contingent liabilities related to the arbitration with BNSF Railway company. Total operating revenue for the quarter rose to $2.45 billion, from $2.32 billion last year. Analysts expected revenues of $2.46 billion for the quarter. A 2% increase in load volume in Intermodal, partially offset with a lower revenue per load, contributed to a less than 1% increase in segment revenue. In Friday pre-market trade, JBHT is trading at $114.51, down $5.25 or 4.38 percent.Copyright RTT News/dpa-AFX
17.01.2020

Kansas City Southern Q4 Profit Misses Estimates; Stock Plunges

WASHINGTON (dpa-AFX) - Kansas City Southern (KSU) reported fourth-quarter adjusted earnings per share of $1.82 compared to $1.56, a year ago. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $1.84, for the quarter. Analysts' estimates typically exclude special items.Fourth-quarter revenues were $729.5 million, an increase of 5% primarily led by a 13% increase in Chemicals and Petroleum and an 11% increase in Industrial & Consumer Products. Analysts expected revenue of $730.22 million for the quarter.Kansas City Southern has improved its outlook for earnings per share growth to a mid-teens CAGR from 2019 through 2021. The company now projects 60% to 61% operating ratio in 2020, and below 60% in 2021. The company has reduced its outlook for capital expenditures to approximately 17% of revenue through 2022. Shares of Kansas City Southern were down 6% in pre-market trade on Friday.Copyright RTT News/dpa-AFX
17.01.2020

Kansas City Southern Q4 adjusted earnings Miss Estimates

WASHINGTON (dpa-AFX) - Kansas City Southern (KSU) revealed earnings for fourth quarter that decreased from last year.The company's bottom line came in at $127.9 million, or $1.30 per share. This compares with $161.8 million, or $1.59 per share, in last year's fourth quarter.Excluding items, Kansas City Southern reported adjusted earnings of $178.4 million or $1.82 per share for the period. Analysts had expected the company to earn $1.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 5.1% to $729.5 million from $694.0 million last year.Kansas City Southern earnings at a glance:-Earnings (Q4): $178.4 Mln. vs. $158.0 Mln. last year.-EPS (Q4): $1.82 vs. $1.56 last year.-Analysts Estimate: $1.84-Revenue (Q4): $729.5 Mln vs. $694.0 Mln last year.Copyright RTT News/dpa-AFX
17.01.2020

State Street Corp. Reveals Rise In Q4 Bottom Line

WASHINGTON (dpa-AFX) - State Street Corp. (STT) revealed earnings for its fourth quarter that rose from the same period last year.The company's profit totaled $704 million, or $1.73 per share. This compares with $437 million, or $1.03 per share, in last year's fourth quarter.The company's revenue for the quarter rose 1.0% to $3.05 billion from $3.02 billion last year.State Street Corp. earnings at a glance:-Earnings (Q4): $704 Mln. vs. $437 Mln. last year.-EPS (Q4): $1.73 vs. $1.03 last year.-Revenue (Q4): $3.05 Bln vs. $3.02 Bln last year.Copyright RTT News/dpa-AFX
17.01.2020

Equifax To Increase Ownership Of ECIS To 100%

WASHINGTON (dpa-AFX) - Equifax (EFX) said that it agreed to increase its ownership of Equifax Credit Information Services Private Ltd. or ECIS to 100%. ECIS is an Indian credit information company. Since 2010, ECIS has operated as a joint venture between Equifax and leading Indian financial institutions, including State Bank of India, Bank of Baroda, Bank of India, Kotak Mahindra Prime Limited, Sundaram Finance Limited and Union Bank of India.Copyright RTT News/dpa-AFX
17.01.2020

Holiday Retail Sales Grew 4.1 Percent In 2019: NRF

MINNEAPOLIS (dpa-AFX) - U.S. holiday retail sales in 2019 grew strongly compared to last year and came in at the high end of a previously forecast range, the National Retail Federation said Thursday. Holiday retail sales in 2019 grew 4.1 percent from the prior-year period to $730.2 billion. The figures exclude automobile dealers, gasoline stations and restaurants.The strong increase in retail sales came even as this year's holiday season was among the shortest, as there were six fewer days between Thanksgiving and Christmas compared to last year.Online and other non-store sales rose 14.6 percent to $167.8 billion and are included in the total figure. The increase also topped the NRF's projections.The holiday season is the most crucial period of the year for the retail industry. Traditionally, Black Friday, the day after Thanksgiving, marks the start of the holiday shopping season in the U.S. In October, the NRF forecast that 2019 holiday sales in November and December would increase between 3.8 percent and 4.2 percent for a total of between $727.9 billion and $730.7 billion. Online sales for the period were projected to increase between 11 percent and 14 percent to between $162.6 billion and $166.9 billion.The growth rate in 2019 holiday retail sales is almost double the weak 2.1 percent growth in the 2018 holiday season, which was impacted by a government shutdown, stock market volatility and interest rate hikes, the NRF noted.Retail sales in December 2019 increased 0.5 percent seasonally adjusted over November and also grew 6.7 percent unadjusted year-over-year. The December's results followed November's decline of 0.1 percent month-over-month and an increase of 1.3 percent year-over-year. The figures by NRF are based on data from the U.S. Census Bureau, which said that overall December sales rose 0.3 percent seasonally adjusted from November and up 5.8 percent unadjusted year-over-year.NRF Chief Economist Jack Kleinhenz said the modest growth in November and the large increase in December was partly because two key days of the Thanksgiving shopping weekend - the Sunday and also Cyber Monday - fell in December this year.Copyright RTT News/dpa-AFX
20.01.2020

Asian Shares Mixed Before Central Bank Meetings

CANBERA (dpa-AFX) - Asian stocks ended Monday's session on a mixed note as the focus shifted to earnings announcements and a round of central bank policy meetings due this week. Upbeat economic data from China and the U.S. last week as well as hopes for more stimulus measures from Beijing to aid growth helped to limit the downside to some extent. Chinese shares gained ground as the People's Bank of China kept the one year and five-year loan prime rates unchanged for January. The rate was last reduced in November, which was the first reduction since the new lending rate was introduced. The benchmark Shanghai Composite index rose 20.29 points, or 0.66 percent, to 3,095.79. Tourism shares tumbled amid concerns over a coronavirus outbreak in the country. Hong Kong's Hang Seng index gave up 0.90 percent to finish at 28,795.91.Japanese shares rose for the third straight session, with underlying sentiment helped by fresh record-setting advances on Wall Street and a weak yen against the dollar.The Nikkei average edged up 42.25 points, or 0.18 percent, to 24,083.51 while the broader Topix index closed half a percent higher at 1,744.16.Investors shrugged off official data showing that Japan's industrial production declined slightly more than initially estimated in November.Industrial production fell by a seasonally adjusted 1.0 percent month-on-month in November. According to the initial estimate, production had declined 0.9 percent.On a yearly basis, industrial production dropped 8.2 percent in November versus the initial estimate of 8.1 percent decrease.Australian markets rose for a fifth straight session to reach fresh record highs, with mining and energy companies advancing. The benchmark S&P/ASX 200 gained 15.40 points, or 0.22 percent, to 7,079.50 while the broader All Ordinaries index ended up 16 points, or 0.22 percent, at 7,196.30.Miners advanced as copper prices hovered near eight-month highs. BHP gained 1.6 percent before releasing its quarterly production report. Rival Rio Tinto added 0.9 percent after it forecast higher iron ore shipments in 2020 on Friday.Beach Energy rallied 3.6 percent and Woodside Petroleum rose 0.7 percent as oil prices rose sharply on news of a blockage of oil exports at Libya's ports.Lynas Corp shares gained 0.4 percent. The rare earths group confirmed a legal challenge has been lodged against the Malaysian government's decision to renew its operating license.Kogan.com shares plunged more than 22 percent after the ecommerce firm released a surprisingly disappointing first half update.Seoul stocks rose for the third consecutive session to hit a 15-month high on the back of positive U.S. data released overnight. The benchmark Kospi rose 0.54 percent to 2,262.64, the highest level since Oct. 5, 2018. Technology companies led the surge, with heavyweight Samsung Electronics climbing 1.8 percent on hopes that higher chip prices will lead to an improvement in its earnings. The firm also announced some leadership changes. South Korea's No. 2 chipmaker, SK Hynix, added 0.9 percent. New Zealand shares fell, with the benchmark S&P/NZX 50 index falling 53.26 points, or 0.45 percent, to 11,746.95.U.S. stocks eked out modest gains on Friday as investors cheered strong U.S. housing data and signs of resilience in the Chinese economy.The Dow Jones Industrial Average edged up 0.2 percent, the tech-heavy Nasdaq Composite gained 0.3 percent and the S&P 500 added 0.4 percent.Copyright RTT News/dpa-AFX
20.01.2020

European Shares Seen Opening Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may open higher on Monday after U.S. markets extended their run of record peaks on Friday following the release of solid U.S. economic data and lashes of liquidity from the Federal Reserve.As trade tensions ease, investors eye U.S. corporate earnings as well as central bank meetings in Europe, Canada and Japan this week for further direction.IBM Corp., Netflix Inc, Intel Corp, American Express, Johnson & Johnson, Procter & Gamble and Texas Instruments Inc are among the prominent U.S. companies that will unveil their quarterly earnings this week.Energy stocks are likely to be in focus today, as oil prices jumped more than 1 percent after two large crude production bases in Libya began shutting down amid a military blockade, potentially reducing national output to a fraction of its normal level.Asian markets edged higher after the People's Bank of China kept the loan prime rate unchanged. Gold traded in a tight range while the dollar began the week on a firm note.In economic releases, U.K. house prices increased the most for the month of January after the general election, data published by property website Rightmove showed.House prices increased 2.3 percent in January, the highest since the record started in 2002. There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market, Miles Shipside, a director at Rightmove, said.U.S. stocks eked out modest gains on Friday as investors cheered strong U.S. housing data and signs of resilience in the Chinese economy.The Dow Jones Industrial Average edged up 0.2 percent, the tech-heavy Nasdaq Composite gained 0.3 percent and the S&P 500 added 0.4 percent. European markets closed higher on Friday after data showed China's economy grew in line with expectations in 2019.The pan European Stoxx 600 notched a fresh record high before ending 1 percent higher. The German DAX climbed 0.7 percent, France's CAC 40 index surged 1 percent and the U.K.'s FTSE 100 advanced 0.9 percent.Copyright RTT News/dpa-AFX
20.01.2020

Asian Markets Exhibit Mixed Trend

CANBERA (dpa-AFX) - Asian stock markets are mixed on Monday despite the record highs on Wall Street Friday, with the focus now turning to the release of corporate earnings results this week. Nevertheless, upbeat economic data from China and the U.S. last week has boosted investor sentiment.The Australian market is extending its winning streak to a fifth straight session.The benchmark S&P/ASX 200 Index is advancing 25.40 points or 0.36 percent to 7,089.50, off a record high of 7,092.50 earlier. The broader All Ordinaries Index is adding 26.70 points or 0.37 percent to 7,207.00. Australian stocks hit fresh record highs for the fourth straight day on Friday.Among the major miners, Fortescue Metals is gaining more than 3 percent, while Rio Tinto and BHP are advancing more than 1 percent each.The big four banks - Westpac, Commonwealth Bank, ANZ Banking and National Australia Bank - are higher in a range of 0.3 percent to 0.6 percent.Oil stocks are also gaining despite crude oil prices ending flat on Friday. Santos is higher by 1 percent, Oil Search is rising 0.5 percent and Woodside Petroleum is adding 0.4 percent.In the tech sector, Appen is higher by almost 3 percent and Xero is up 0.6 percent, while Wisetech Global is lower by 0.2 percent.Gold miners are mixed even as gold prices rose on Friday. Newcrest Mining is advancing almost 1 percent and Evolution Mining is down 0.3 percent.Kogan.com reported 16 percent growth in gross sales and a 9 percent increase in gross profit for the first half of the year, compared to the year-ago period. The online retailer's shares are losing more than 16 percent.In the currency market, the Australian dollar was quoted at $0.6800 on Monday.The Japanese market is modestly higher following the record closing highs on Wall Street Friday.The benchmark Nikkei 225 Index is rising 34.00 points or 0.14 percent to 24,075.26, after touching a high of 24,105.34 in early trades. Japanese stocks closed higher on Friday.Market heavyweight SoftBank Group Corp. is edging up 0.1 percent, while Fast Retailing is lower by more than 1 percent.Among tech stocks, Advantest is higher by 0.7 percent and Tokyo Electron is adding 0.2 percent.The major exporters are mixed on a stronger yen. Mitsubishi Electric is declining more than 1 percent and Panasonic is down 0.3 percent, while Sony is adding almost 1 percent and Canon is rising 0.4 percent.Among auto stocks, Toyota Motor is advancing almost 1 percent and Honda Motor is adding 0.4 percent.In the oil sector, Inpex is higher by 0.5 percent, while Japan Petroleum is declining 0.2 percent after crude oil prices ended flat on Friday.Among the other major gainers, Cyberagent is rising more than 3 percent and Shinsei Bank is higher by more than 2 percent.On the flip side, Sapporo Holdings is losing almost 3 percent and Isetan Mitsukoshi Holdings is lower by more than 2 percent.In economic news, Japan will see final November numbers for industrial production today.In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Monday.Elsewhere in Asia, Shanghai, South Korea and Taiwan are also higher, while New Zealand and Indonesia are declining. Indonesia, Malaysia and Hong Kong are all edging lower.On Wall Street, stocks gained modestly, but still closed at record highs on Friday after data showed that China's economy grew at the slowest pace since 1990, yet matched economist estimates. More upbeat U.S. economic data also generated buying interest, with a report from the Commerce Department showing a substantial increase in U.S. housing starts in the month of December.The Dow edged up 50.46 points or 0.2 percent to 29,348.10, the Nasdaq rose 31.81 points or 0.3 percent to 9,388.94 and the S&P 500 climbed 12.81 points or 0.4 percent to 3,329.62.The major European markets also moved to the upside on Friday. While the French CAC 40 Index surged up by 1 percent, the U.K.'s FTSE 100 Index jumped by 0.9 percent and the German DAX Index climbed by 0.7 percent.Crude oil futures failed to hold early gains and settled near the flat line on Friday, as traders weighed demand and supply position in the oil market. WTI crude futures ended at $58.54 a barrel, edging up $0.02 for the session.Copyright RTT News/dpa-AFX
20.01.2020

Japanese Market Modestly Higher

TOKYO (dpa-AFX) - The Japanese stock market is modestly higher on Monday following the record closing highs on Wall Street Friday amid upbeat economic data from the U.S. and China.The benchmark Nikkei 225 Index is adding 34.00 points or 0.14 percent to 24,075.26, after touching a high of 24,105.34 in early trades. Japanese stocks closed higher on Friday.Market heavyweight SoftBank Group Corp. is edging up 0.1 percent, while Fast Retailing is lower by more than 1 percent.Among tech stocks, Advantest is higher by 0.7 percent and Tokyo Electron is adding 0.2 percent.The major exporters are mixed on a stronger yen. Mitsubishi Electric is declining more than 1 percent and Panasonic is down 0.3 percent, while Sony is adding almost 1 percent and Canon is rising 0.4 percent.Among auto stocks, Toyota Motor is advancing almost 1 percent and Honda Motor is adding 0.4 percent.In the oil sector, Inpex is higher by 0.5 percent, while Japan Petroleum is declining 0.2 percent after crude oil prices ended flat on Friday.Among the other major gainers, Cyberagent is rising more than 3 percent and Shinsei Bank is higher by more than 2 percent.On the flip side, Sapporo Holdings is losing almost 3 percent and Isetan Mitsukoshi Holdings is lower by more than 2 percent.In economic news, Japan will see final November numbers for industrial production today. In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Monday.On Wall Street, stocks gained modestly, but still closed at record highs on Friday after data showed that China's economy grew at the slowest pace since 1990, yet matched economist estimates. More upbeat U.S. economic data also generated buying interest, with a report from the Commerce Department showing a substantial increase in U.S. housing starts in the month of December.The Dow edged up 50.46 points or 0.2 percent to 29,348.10, the Nasdaq rose 31.81 points or 0.3 percent to 9,388.94 and the S&P 500 climbed 12.81 points or 0.4 percent to 3,329.62.The major European markets also moved to the upside on Friday. While the French CAC 40 Index surged up by 1 percent, the U.K.'s FTSE 100 Index jumped by 0.9 percent and the German DAX Index climbed by 0.7 percent.Crude oil futures failed to hold early gains and settled near the flat line on Friday, as traders weighed demand and supply position in the oil market. WTI crude futures ended at $58.54 a barrel, edging up $0.02 for the session.Copyright RTT News/dpa-AFX
20.01.2020

Higher Open Expected For China Stock Market

BEIJING (dpa-AFX) - The China stock market picked up less than two points on Friday - but that was enough to halt the three-day slide in which it had retreated more than 40 points or 1.3 percent. The Shanghai Composite Index now rests just above the 3,075-point plateau and it may tick higher again on Monday.The global forecast for the Asian markets is positive thanks to solid economic data from the world's largest economies. The European and U.S. markets were up on Friday and the Asian bourses are expected to follow that lead.The SCI finished slightly higher on Friday following gains from the energy producers and mixed performances from the financial shares and property stocks.For the day, the index added 1.42 points or 0.05 percent to finish at 3,075.50 after trading between 3,067.25 and 3,091.95. The Shenzhen Composite Index sank 5.29 points or 0.29 percent to end at 1,806.28.Among the actives, Industrial and Commercial Bank of China collected 0.34 percent, while China Construction Bank eased 0.14 percent, China Merchants Bank dipped 0.08 percent, China Life Insurance plunged 2.56 percent, Ping An Insurance advanced 0.82 percent, PetroChina rose 0.17 percent, China Shenhua Energy gained 0.56 percent, Gemdale sank 0.35 percent, Poly Developments rose 0.56 percent, China Vanke fell 0.23 percent and Bank of China and China Petroleum and Chemical (Sinopec) were unchanged.The lead from Wall Street is positive as stocks fluctuated Friday but still inched higher, sending the major averages to fresh record closing highs.The Dow added 50.46 points or 0.17 percent to 29,348, while the NASDAQ gained 31.81 points or 0.34 percent to 9,388.94 and the S&P 500 rose 12.81 points or 0.39 percent to 3,329.62. For the week, the Sow added1.8 percent, the NASDAQ gained 2.3 percent and the S&P rose 2 percent.The continued strength on Wall Street was widely attributed to Chinese GDP data even though the latest report showed China's economy grew at the slowest pace since 1990. But the GDP growth matched estimates, which suggested the impact of the U.S.-China trade war wasn't worse than feared.In U.S. economic news, the Commerce Department noted a substantial increase in U.S. housing starts in December. Also, the Federal Reserve observed a modest pullback in U.S. industrial production last month.Crude oil futures failed to hold early gains and settled near the flat line Friday as traders weighed demand and supply position in the market. West Texas Intermediate Crude oil futures ended at $58.54 a barrel, gaining 2 cents for the session after peaking earlier at $58.98 a barrel. For the week, crude oil futures shed about 0.8 percent.Closer to home, China will announce January numbers for loan prime rates later today. The one-year loan prime rate is called at 4.1 percent, down from 4.2 percent in December. The five-year loan prime rate is expected to be unchanged at 4.8 percent.Copyright RTT News/dpa-AFX
17.01.2020

U.S. Stocks Extend Run To Record Highs With Moderate Advance

WASHINGTON (dpa-AFX) - Stocks fluctuated over the course of the trading day on Friday but largely maintained a positive bias throughout the session. With the upward move on the day, the major averages once again reached new record closing highs.The major averages moved to the upside going into the close, ending the day moderately higher. The Dow edged up 50.46 points or 0.2 percent to 29,348.10, the Nasdaq rose 31.81 points or 0.3 percent to 9,388.94 and the S&P 500 climbed 12.81 points or 0.4 percent to 3,329.62.For the week, the tech-heavy Nasdaq surged up by 2.3 percent, while the S&P 500 and the Dow jumped by 2 percent and 1.8 percent, respectively.The continued strength on Wall Street was widely attributed to Chinese GDP data even though the latest report showed China's economy grew at the slowest pace since 1990.The report from China's National Bureau of Statistics said Chinese GDP grew by 6.1 percent in 2019 compared to the 6.6 percent growth seen in 2018.However, the GDP growth matched economist estimates, which seems to have allowed global traders to breathe a sigh of relief that the impact of the U.S.-China trade war was not worse than feared.More upbeat U.S. economic data also generated buying interest, with a report from the Commerce Department showing a substantial increase in U.S. housing starts in the month of December.The Commerce Department said housing starts skyrocketed by 16.9 percent to an annual rate of 1.608 million in December after jumping by 2.6 percent to a revised rate of 1.375 million in November.The surge came as a big surprise to economists, who had expected housing starts to rise by 0.7 percent to a rate of 1.375 million from the 1.365 million originally reported for the previous month.With the much bigger than expected increase, housing starts soared to their highest level since hitting a rate of 1.649 million in December of 2006.Meanwhile, the Federal Reserve released a report before the start of trading showing a modest pullback in U.S. industrial production in the month of December.The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November.Economists had expected industrial production to dip by 0.2 percent compared to the 1.1 percent jump originally reported for the previous month.The pullback in production came as utilities output plunged by 5.6 percent in December, with unseasonably warm weather leading to a large decrease in demand for heating.Despite the continued advance by the broader markets, most of the major sectors ended the day showing only modest moves.Steel and utilities stocks saw some strength on the day, while notable weakness was visible among gold, natural gas and tobacco stocks.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index climbed by 0.5 percent, while Hong Kong's Hang Seng Index advanced by 0.6 percent.The major European markets also moved to the upside on the day. While the French CAC 40 Index surged up by 1 percent, the U.K.'s FTSE 100 Index jumped by 0.9 percent and the German DAX Index climbed by 0.7 percent.In the bond market, treasuries extended the pullback seen over the course of the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.7 basis points to 1.836 percent.Looking AheadThe economic calendar for next week is relatively light following the holiday on Monday, which may lead to increased attention on the latest earnings news.A number of big-name companies are due to report their quarterly results next week, including IBM Corp. (IBM), Netflix (NFLX), Johnson & Johnson (JNJ), Procter & Gamble (PG), Intel (INTC), and American Express (AXP).Copyright RTT News/dpa-AFX
17.01.2020

SMI Extends Gains To 4th Session, Posts New Closing High

BRUSSELS (dpa-AFX) - Swiss stocks ended on a buoyant note on Friday and the benchmark SMI posted a new all-time high as stocks extended gains to a fourth straight session amid continued optimism about global economic recovery.Strong industrial production data from China and a report showing U.S. housing starts to have soared to a 13-year high in December aided sentiment.The SMI opened modestly higher and stayed positive right through the session. It touched a new all-time high of 10,849.29 and ended the session with a gain of 148.30 points, or 1.39%, at 10,841.82.On Thursday, the index ended up 22.78 points, or 0.21%, after gaining 0.14% and 0.31% in the earlier two sessions.Richemont shares gained nearly 5%, riding on a 6% jump in sales in the third quarter. Roche Holding ended about 2.2% up. Sika and Nestle gained 1.9% and 1.6%, respectively. Zurich Insurance Group, Alcon, Novartis, SGS and Swiss Life Holding moved up 1 to 1.4%.Among the stocks in the midcap section, Schindler Holding and Schindler Ps gained 3.25% and 3.1%, respectively. Straumann Holding, Clariant, Bucher Industries, PSP Swiss Property, Baloise Holding and Julius Baer closed high 1.2% - 1.6%. BB Biotech gained about 1.4% after the company said it posted a net gain Of CHF 677 million for the fiscal year 2019.Swiss Prime Site, Sonova, Dufry, Lindt & Sp Ps and Helvetia also closed on a firm note.Shares of Dorma Kaba Holding and Logitech ended lower by 1.4% and 1.1%, respectively. AMS and Temenos Group closed modestly lower.In economic news, Switzerland's producer and import prices declined 1.7% year-on-year in December, data from the Federal Statistical Office showed. On a monthly basis, producer and import prices edged up 0.1% in December.On an average, producer and import prices declined 1.4% in 2019, after a 2.4% rise in 2018.The latest decline was mainly due to lower prices for pharmaceutical products, scrap, mineral oil products, and metals and semi-finished metal products.The producer prices fell 1% annually in December and edged up 0.1% from the previous month. Likewise, import prices dropped 3.2% from last year but rose 0.2% on month.Among the other major markets in Europe, the U.K.'s FTSE 100 gained 0.85%, Germany's DAX ended 0.72% up and France's CAC 40 advanced 1.02%. The pan European Stoxx 600 ended up 0.96%.Copyright RTT News/dpa-AFX
17.01.2020

European Markets Close Higher On Strong Chinese Economic Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended higher on Friday, driven largely by data that showed China's economic grew as expected in the year 2019. Positive data on U.S. housing starts too aided sentiment.The phase one trade deal the U.S. and China signed earlier this week has raised expectations that growth in the world's second largest economy will be on track in the coming quarters. The pan European Stoxx 600 ended up 0.96%. The U.K.'s FTSE 100 gained 0.85%, Germany's DAX ended 0.72% up and France's CAC 40 advanced 1.02%, while Switzerland's SMI ended 1.39% up.Among other markets in Europe, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Russia, Spain, Sweden and Ukraine closed higher, while Austria, Czech Republic, Poland and Portugal ended flat. In the U.K. market, NMC Health rallied 8% after the company retained former FBI director Louis Freeh to conduct an independent investigation of its business, in response to allegations raised by U.S. activist short seller Muddy Waters.IAG gained more than 5% after the airline said it has lifted a restriction on non-EU investors' ability to buy its stock.Ashtead Group, Pearson and Anglo American moved up 3 to 5.2%. Rio Tinto, Hikma Pharma, BHP Group, Astrazeneca, Centrica, GlaxoSmithKline and United Utilities gained 2 to 2.75%. In France, Airbus Group, L'Oreal, Michelin, Legrand, Vinci, Hermes International, Pernod Ricard, Essilor Luxottica, Schneider Electric, Louis Vuitton, Air Liquide and Thales gained 1.5 to 2.5%, while Publicis Groupe and Technip declined sharply.In the German market, RWE, SAP, E.ON, MTU Aero, HeidelbergCement and Allianz gained 1 to 3%.Chinese GDP data came in line with expectations and there was growth in industrial output and retail sales, suggesting the world's second-biggest economy ended the year on a firmer note.China's economy expanded at the slowest pace since 1990 as cooling domestic demand and property investment amid the trade war with the United States weighed heavily on growth last year.In the whole year of 2019, gross domestic product grew 6.1%, which was well within the target of 6-6.5%, data from the National Bureau of Statistics showed. China's growth for 2019 matched the projections of the International Monetary Fund and the World Bank.Further, data showed that growth in industrial production unexpectedly accelerated to 6.9% in December from 6.2% in November. The rate was expected to ease to 5.9%.Retail sales expanded 8% annually, as seen in November, and slightly faster than the expected rate of 7.9%.In economic news from Europe, a report from the European Central Bank said, the euro area current account surplus fell to EUR 34 billion in November from EUR 36 billion in October. However, the surplus was larger than the EUR 27 billion logged in November 2018.Final data from Eurostat said eurozone inflation increased 1.3% as estimated, in December, from 1% in November. A similar higher rate was last seen in June.Headline inflation remained well below the European Central Bank's target of 'below, but close to 2%.'Core inflation that excludes energy, food, alcohol and tobacco, held steady at 1.3% in December. The rate came in line with the flash estimate published on January 7.Eurozone construction output increased 0.7% on month, in November, Eurostat reported. In October construction output had declined 0.5%. On a yearly basis, construction output growth accelerated to 1.4% from 0.9% a month ago. Switzerland's producer and import prices fell 1.7% year-on-year in December, data from the Federal Statistical Office showed. On a monthly basis, producer and import prices edged up 0.1% in December.UK retail sales declined unexpectedly in December, easing by 0.6% on month, following a 0.8% decrease in November. This was the fifth consecutive month of no growth. Economists had forecast a monthly growth of 0.6%.Copyright RTT News/dpa-AFX
17.01.2020

U.S. Stocks Fluctuate But Maintain Positive Bias

WASHINGTON (dpa-AFX) - After showing an early move to the upside, stocks have fluctuated over the course of the trading session on Friday. The major averages briefly pulled back into negative territory but have climbed back above the unchanged line since then.Currently, the major averages are clinging to modest gains. The Dow is up 32.00 points or 0.1 percent at 29,329.64, the Nasdaq is up 4.80 points or 0.1 percent at 9,361.93 and the S&P 500 is up 7.01 points or 0.2 percent at 3,323.82.The early strength on Wall Street was widely attributed to Chinese GDP data even though the latest report showed China's economy grew at the slowest pace since 1990.The report from China's National Bureau of Statistics said Chinese GDP grew by 6.1 percent in 2019 compared to the 6.6 percent growth seen in 2018.However, the GDP growth matched economist estimates, which seems to have allowed global traders to breathe a sigh of relief that the impact of the U.S.-China trade war was not worse than feared.More upbeat U.S. economic data also generated buying interest, with a report from the Commerce Department showing a substantial increase in U.S. housing starts in the month of December.The Commerce Department said housing starts skyrocketed by 16.9 percent to an annual rate of 1.608 million in December after jumping by 2.6 percent to a revised rate of 1.375 million in November.The surge came as a big surprise to economists, who had expected housing starts to rise by 0.7 percent to a rate of 1.375 million from the 1.365 million originally reported for the previous month.With the much bigger than expected increase, housing starts soared to their highest level since hitting a rate of 1.649 million in December of 2006.Meanwhile, the Federal Reserve released a report before the start of trading showing a modest pullback in U.S. industrial production in the month of December.The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November.Economists had expected industrial production to dip by 0.2 percent compared to the 1.1 percent jump originally reported for the previous month.The pullback in production came as utilities output plunged by 5.6 percent in December, with unseasonably warm weather leading to a large decrease in demand for heating.Most of the major sectors continue to show only modest moves in mid-day trading, contributing to the lackluster performance by the broader markets.Computer hardware stocks have shown a notable move to the downside, however, with the NYSE Arca Computer Hardware Index falling by 1.2 percent after ending the previous session at a record closing high.Some weakness is also visible among gold stocks, which are moving lower despite an increase by the price of the precious metal.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index climbed by 0.5 percent, while Hong Kong's Hang Seng Index advanced by 0.6 percent.The major European markets also moved to the upside on the day. While the French CAC 40 Index surged up by 1 percent, the U.K.'s FTSE 100 Index jumped by 0.9 percent and the German DAX Index rose by 0.7 percent.In the bond market, treasuries are extending the pullback seen over the course of the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.5 basis points at 1.834 percent.Copyright RTT News/dpa-AFX
17.01.2020

U.S. Stocks Inch Up To New Record Intraday Highs

WASHINGTON (dpa-AFX) - Stocks have moved modestly higher in morning trading on Friday, extending the rally seen over the course of the previous session. With the uptick on the day, the major averages have once again reached new record intraday highs.Currently, the major averages are holding on to slim gains. The Dow is up 63.23 points or 0.2 percent at 29,360.87, the Nasdaq is up 13.46 points or 0.1 percent at 9,370.59 and the S&P 500 is up 7.89 points or 0.2 percent at 3,324.70.The continued strength on Wall Street has been widely attributed to Chinese GDP data even though the latest report showed China's economy grew at the slowest pace since 1990.The report from China's National Bureau of Statistics said Chinese GDP grew by 6.1 percent in 2019 compared to the 6.6 percent growth seen in 2018.However, the GDP growth matched economist estimates, which seems to have allowed global traders to breathe a sigh of relief that the impact of the U.S.-China trade war was not worse than feared.More upbeat U.S. economic data has also generated buying interest, with a report from the Commerce Department showing a substantial increase in U.S. housing starts in the month of December.The Commerce Department said housing starts skyrocketed by 16.9 percent to an annual rate of 1.608 million in December after jumping by 2.6 percent to a revised rate of 1.375 million in November.The surge came as a big surprise to economists, who had expected housing starts to rise by 0.7 percent to a rate of 1.375 million from the 1.365 million originally reported for the previous month.With the much bigger than expected increase, housing starts soared to their highest level since hitting a rate of 1.649 million in December of 2006.Meanwhile, the Federal Reserve released a report before the start of trading showing a modest pullback in U.S. industrial production in the month of December.The Fed said industrial production fell by 0.3 percent in December after climbing by a downwardly revised 0.8 percent in November.Economists had expected industrial production to dip by 0.2 percent compared to the 1.1 percent jump originally reported for the previous month.The pullback in production came as utilities output plunged by 5.6 percent in December after surging up by 1.0 percent in November, with unseasonably warm weather leading to a large decrease in demand for heating.Despite the continued advance by the broader markets, most of the major sectors are showing only modest moves on the day.Steel stocks are seeing some strength amid optimism about Chinese demand, while tobacco and gold stocks have shown notable moves to the downside.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index climbed by 0.5 percent, while Hong Kong's Hang Seng Index advanced by 0.6 percent.The major European markets have also moved to the upside on the day. While the French CAC 40 Index has surged up by 1.1 percent, the U.K.'s FTSE 100 Index is up by 0.9 percent and the German DAX Index is up by 0.7 percent.In the bond market, treasuries are extending the pullback seen over the course of the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.9 basis points at 1.848 percent.Copyright RTT News/dpa-AFX
20.01.2020

Germany Producer Prices Fall At Slower Pace

BERLIN (dpa-AFX) - Germany's producer prices declined at a slower pace in December, data from Destatis showed on Monday.Producer prices fell 0.2 percent year-on-year, slower than the 0.7 percent decrease seen in November. This was also slower than the 0.3 percent fall economists' had forecast. On a monthly basis, producer prices were up 0.1 percent after remaining unchanged in November. Economists had expected prices to remain flat in December. Excluding energy, producer prices gained 0.2 percent on month, taking the annual growth to 0.4 percent in December. In 2019, the producer price index increased 1.1 percent on average from the previous year.Copyright RTT News/dpa-AFX
20.01.2020

Estonia Producer Prices Decline In December

BRUSSELS (dpa-AFX) - Estonia's producer prices declined in December, data from Statistics Estonia showed on Monday. The producer price index fell 1.2 percent year-on-year in December, following a 0.9 percent decline in November.Prices of manufacturing prices fell 0.1 percent annually in December and those of electricity, gas, steam and air conditioning supply, and water supply declined 17.5 percent and 9.4 percent, respectively. Meanwhile, prices for mining and quarrying industry grew 2.9 percent.The index was affected mainly by price decrease in electricity and heat energy supply, manufacture of wood and wood products and paper products, and by price increase in the manufacture of fuel oils, the agency said. On a month-on-month basis, producer prices declined 0.9 percent in December, following a 0.9 percent fall in the preceding month.Further, data showed that import prices rose 0.2 percent on month and increased by 0.8 percent from a year ago in December.The export prices decreased 0.5 percent on month and fell 0.1 percent from last year.Copyright RTT News/dpa-AFX
20.01.2020

Japan Industrial Production Falls In November

TOKYO (dpa-AFX) - Japan's industrial production declined slightly more than initially estimated in November, data from the Ministry of Economy, Trade and Industry showed on Monday. Industrial production fell by a seasonally adjusted 1.0 percent month-on-month November. According to the initial estimate, production had declined 0.9 percent. On a monthly basis, shipments dropped 1.7 percent in November and inventories decreased 0.9 percent. Meanwhile, the inventory ratio grew 2.2 percent.On a yearly basis, industrial production dropped 8.2 percent in November versus the initial estimate of 8.1 percent decrease. Further, data showed that capacity utilization slid 0.3 percent on month in November, but slower than the 4.5 percent decline logged in October.Copyright RTT News/dpa-AFX
20.01.2020

UK House Prices Log Record January Growth: Rightmove

LONDON (dpa-AFX) - UK house prices increased the most for the month of January after the general election, data published by property webside Rightmove showed Monday.House prices increased 2.3 percent in January, the highest since the record started in 2002. There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market, Miles Shipside, a director at Rightmove, said.While there may well be more twists and turns to come in the Brexit saga, there is now an opportunity for sellers to get their property on the market for a spring move unaffected by Brexit deadlines, Shipside added.Copyright RTT News/dpa-AFX
20.01.2020

China Retains Loan Prime Rate

BEIJING (dpa-AFX) - China left its benchmark lending rates for the second straight month, on Monday.The one-year loan prime rate was retained at 4.15 percent and the five-year loan prime rate at 4.80 percent.The rate was last reduced in November, which was the first reduction since the new lending rate was introduced.The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This new lending rate replaced central bank's traditional benchmark lending rate in August. The People's Bank of China reportedly introduced CNY 250 billion into the financial system via reverse repo on Monday.Copyright RTT News/dpa-AFX
19.01.2020

Japan Rate Decision On Tap For Monday

BEIJING (dpa-AFX) - The Bank of Japan will on Monday wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.The BoJ is widely expected to keep its benchmark lending rate unchanged at -0.1 percent, although it may introduce other means of stimulus.Japan also will see final November numbers for industrial production; the previous reading suggested a decline of 0.9 percent on month and 8.1 percent on year, while capacity utilization also fell 4.5 percent on month.China will announce January numbers for loan prime rates. The one-year loan prime rate is called at 4.1 percent, down from 4.2 percent in December. The five-year loan prime rate is expected to be unchanged at 4.8 percent.The central bank in Indonesia will conclude its monetary policy meeting and then announce its decision on interest rates. The bank is expected to keep its benchmark lending rate steady at 5.00 percent.Hong Kong will see December data for unemployment; in November, the jobless rate was 3.2 percent.Copyright RTT News/dpa-AFX
17.01.2020

U.S. Consumer Sentiment Shows Slight Deterioration In January

WASHINGTON (dpa-AFX) - A report released by the University of Michigan on Friday showed a slight deterioration in U.S. consumer sentiment in the month of January.Preliminary data showed the consumer sentiment index edged down to 99.1 in January from the final December reading of 99.3. Economists had expected the index to come in unchanged.The slight decrease by the headline index came as the index of consumer expectations dipped to 88.3 in January from 88.9 in December.On the other hand, the report said the current economic conditions index crept up to 115.8 in January from 115.5 in December.Surveys of Consumers chief economist Richard Curtin noted the impeachment of President Donald Trump was mentioned but just 1 percent of consumers. 'While those that mentioned impeachment were also somewhat less optimistic than other consumers, the small numbers had a negligible impact on the overall level in consumer sentiment,' Curtin said.With regard to inflation, one-year inflation expectations rose to 2.5 percent in January from 2.3 percent in December, while five-year inflation expectations climbed to 2.5 percent from 2.2 percent.The University of Michigan noted the data was initially unavailable on its website due to an accidental cut of fiber networking on the campus that caused complete internet outage.Copyright RTT News/dpa-AFX
20.01.2020

Euro Little Changed After German PPI

BRUSSELS (dpa-AFX) - Following the release of German producer prices for December at 2:00 am ET Monday, the euro changed little against its major rivals.The euro was trading at 122.30 against the yen, 0.8541 against the pound, 1.0746 against the franc and 1.1101 against the greenback around 2:05 am ET.Copyright RTT News/dpa-AFX
20.01.2020

Chinese Yuan At 5-1/2-month High Against U.S. Dollar

BEIJING (dpa-AFX) - The Chinese yuan strengthened against the U.S. dollar in the Asian session on Monday, as the People's Bank of China has set a stronger midpoint for the yuan. The yuan climbed to a 5-1/2-month high of 6.8409 against the greenback from Friday's closing value of 6.8588. The yuan is seen finding resistance around the 6.7 mark.The People's Bank of China set today's central parity rate of the yuan at 6.8664 per dollar, compared to Friday's rate of 6.8878. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.Copyright RTT News/dpa-AFX
17.01.2020

Dollar Gains Against Rivals On Strong Economic Data

WASHINGTON (dpa-AFX) - The U.S. dollar exhibited strength against most major currencies on Friday, riding on fairly encouraging economic data from China and the U.S. Chinese economy expanded in line with expectations in the fourth quarter. Data released today showed GDP was up 6% year-on-year in the fourth quarter, the same rate as seen in the third quarter. It was in line with expectations as well.The data also showed that industrial production in China rose 6.9% in December, compared to the year-ago quarter. Retails sales surged up 8% in the month, over the same month in the previous year.According to the data released by the Commerce Department Friday morning, U.S. housing starts skyrocketed by 16.9% to an annual rate of 1.608 million in December after jumping by 2.6% to a revised rate of 1.375 million in November. Economists had expected housing starts to rise by 0.7% to a rate of 1.375 million.Building permits tumbled by 3.9% in December, after climbing 0.9% in November. A report from the University of Michigan showed a slight deterioration in U.S. consumer sentiment in the month of January. Preliminary data showed the consumer sentiment index edged down to 99.1 in January from the final December reading of 99.3.The Federal Reserve released a report showing a slight pullback in U.S. industrial production in the month of December.The dollar index rose to 97.66, gaining in strength gradually after opening at 97.31. The index was last seen at 97.62, up more than 0.3% from Thursday's close.Against the Euro, the dollar strengthened to $1.1092, from previous close of $1.1135.The dollar was up 0.5% against pound sterling at $1.3012, after trading at $1.3116 in the European session.The dollar was flat against the yen, moving around the unchanged line for much of the trading session.The Aussie, loonie and Swiss franc were all weak against the dollar, at 0.6873, $1.3068 and $0.9678, respectively.Copyright RTT News/dpa-AFX
17.01.2020

Dollar Little Changed Following U.S. Industrial Production

BRUSSELS (dpa-AFX) - Following the release of U.S. industrial production for December at 9.15 am ET Tuesday, the greenback changed little against its major counterparts. The greenback was trading at 110.20 against the yen, 1.1103 against the euro, 1.3046 against the pound and 0.9683 against the franc around 9:20 am ET.Copyright RTT News/dpa-AFX
17.01.2020

Dollar Rises Vs Most Majors Ahead Of U.S. Industrial Production

BRUSSELS (dpa-AFX) - Fed's Industrial production for December will be published at 9.15 am ET Tuesday. Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback held steady against the pound, it rose against the rest of major counterparts.The greenback was worth 110.20 against the yen, 1.1100 against the euro, 1.3044 against the pound and 0.9685 against the franc at 9:10 am ET.Copyright RTT News/dpa-AFX
17.01.2020

Dollar Stronger On Upbeat U.S., China Economic Data

CANBERA (dpa-AFX) - The U.S. dollar drifted higher against its most major trading partners in the European session on Friday, as solid economic data from China and the U.S. eased concerns about global growth.Official data showed that the Chinese economy expanded in line with expectations in the fourth quarter.Gross domestic product grew 6.0 percent year-on-year in the fourth quarter, the same rate as seen in the third quarter and in line with expectations.Chinese industrial production and retail sales beat forecasts in December, rising 6.9 percent and 8.0 percent, respectively year-on-year.Overnight data showed that U.S. retail sales rose 0.3 percent in December, in line with forecasts.Separate reports showed that weekly jobless claims unexpectedly fell in the week ended January 11 and NAHB housing market index came in near a 20-year high in January.The data reduced the possibility of further interest rate cuts from the Federal Reserve.Investors await U.S. industrial production, consumer confidence index, building permits and housing starts data due in the American session for more direction.The currency traded mixed against its major counterparts in the Asian session. While it rose against the yen and the franc, it held steady against the euro. Versus the pound, it declined.The greenback rose to a 3-day high of 1.1106 against the euro from yesterday's closing value of 1.1136. The greenback is likely to locate resistance around the 1.10 level. Final data from Eurostat showed that Eurozone inflation increased as estimated in December.Inflation rose to 1.3 percent in December, as initially estimated, from 1 percent in November. A similar higher rate was last seen in June.The greenback strengthened to a 2-day peak of 0.9674 against the franc, up from Thursday's closing quote of 0.9645. On the upside, 0.98 is possibly seen as the next resistance level for the greenback. Data from the Federal Statistical Office showed that Switzerland's producer and import prices declined in December.The producer and import prices fell 1.7 percent year-on-year in December.After falling to an 8-day low of 1.3119 versus the pound at 4:15 am ET, the greenback turned higher and was trading at 1.3053. The greenback is seen locating resistance around the 1.28 mark. Data from the Office for National Statistics showed that U.K. retail sales declined unexpectedly in December.Retail sales volume, including auto fuel, dropped 0.6 percent on month, following a 0.8 percent decrease in November. This was the fifth consecutive month of no growth.The greenback appreciated to 0.6619 against the kiwi, from a low of 0.6651 hit at 3:15 am ET. The greenback is likely to test resistance around the 0.645 region, if it gains again. The greenback that ended Thursday's trading at 1.3042 against the loonie gained to a 2-day high of 1.3058. The currency may face resistance around the 1.33 region. The U.S. currency rose back to 0.6889 against the aussie, not far from a 2-day peak of 0.6884 set in the Asian session. The next possible resistance for the greenback is seen around the 0.66 level.In contrast, the greenback eased off to 110.09 against the yen, from an 8-month high of 110.29 seen in Asian trading. The greenback is poised to challenge support around the 108.00 mark. Data from the Ministry of Economy, Trade and Industry showed that Japan's tertiary industry activity rose at a faster-than-expected pace in November.The tertiary industry activity index rose 1.3 percent month-on-month in November. Economists had forecast 1.0 percent rise.Looking ahead, U.S. building permits, housing starts and industrial production, all for December, as well as University of Michigan's preliminary consumer sentiment index for January are set for release in the New York session.Copyright RTT News/dpa-AFX
17.01.2020

Pound Falls As Weak U.K. Retail Sales Data Raises BoE Rate Cut Hopes

BRUSSELS (dpa-AFX) - The pound slipped against its major counterparts in the European session on Friday, as U.K. retail sales declined unexpectedly in December, boosting expectations that the Bank of England is likely to cut interest rates as soon as this month.Data from the Office for National Statistics showed that retail sales volume, including auto fuel, dropped 0.6 percent on month, following a 0.8 percent decrease in November. This was the fifth consecutive month of no growth.Economists had forecast a monthly growth of 0.6 percent.Excluding auto fuel, retail sales fell 0.8 percent, the same pace of decline as logged in November and in contrast to the expected growth of 0.8 percent.The currency rose against its most major rivals in the previous session, except the euro.After rising to a 1-week high of 0.8487 against the euro at 4:15 am ET, the pound pulled back, reaching as low as 0.8533. The next possible support for the pound is seen around the 0.88 area.Final data from Eurostat showed that Eurozone inflation increased as estimated in December.Inflation rose to 1.3 percent in December, as initially estimated, from 1 percent in November. A similar higher rate was last seen in June.The pound dropped to 1.3041 against the greenback, from an 8-day high of 1.3119 seen at 4:15 am ET. If the pound slides further, it may find support around the 1.28 mark. The pound declined to 143.73 against the yen, following more than a 4-week high of 144.53 set at 4:15 am ET. The pound is seen locating support around the 142.00 level. Data from the Ministry of Economy, Trade and Industry showed that Japan's tertiary industry activity rose at a faster-than-expected pace in November.The tertiary industry activity index rose 1.3 percent month-on-month in November. Economists had forecast 1.0 percent rise.Having climbed to a 4-day high of 1.2662 at 4:15 am ET, the pound reversed direction and fell to 1.2587 against the franc. On the downside, 1.24 is possibly seen as the next support level for the pound. Data from the Federal Statistical Office showed that Switzerland's producer and import prices declined in December.The producer and import prices fell 1.7 percent year-on-year in December.Looking ahead, U.S. building permits, housing starts and industrial production, all for December, as well as University of Michigan's preliminary consumer sentiment index for January are set for release in the New York session.Copyright RTT News/dpa-AFX
17.01.2020

Euro Little Changed After Eurozone Inflation Data

BRUSSELS (dpa-AFX) - After the release of Eurozone final inflation and construction output data at 5:00 am ET Friday, the euro changed little against its major rivals.The euro was trading at 1.1127 against the greenback, 122.59 against the yen, 1.0746 against the franc and 0.8523 against the pound around 5:03 am ET.Copyright RTT News/dpa-AFX
17.01.2020

Euro Falls Vs Most Majors Ahead Of Eurozone Inflation Data

BRUSSELS (dpa-AFX) - Eurostat is set to issue Eurozone final inflation and construction output data at 5:00 am ET Friday. Inflation is seen at 1.3 percent in December, unchanged from flash estimate, but above 1 percent logged in November.Ahead of the data, the euro traded mixed against its major rivals. While the euro rose against the pound, it fell against the rest of major counterparts. The euro was worth 1.1127 against the greenback, 122.58 against the yen, 1.0745 against the franc and 0.8520 against the pound as of 4:55 am ET.Copyright RTT News/dpa-AFX
17.01.2020

Pound Retreats Following U.K. Retail Sales Data

BRUSSELS (dpa-AFX) - At 4.30 am ET Friday, the Office for National Statistics has released UK retail sales data. The pound retreated from its early highs against its major rivals after the data.The pound was trading at 1.3069 against the greenback, 144.03 against the yen, 1.2618 against the franc and 0.8515 against the euro around 4:33 am ET.Copyright RTT News/dpa-AFX

Sie haben Fragen zu unseren News?
Gerne beraten wir Sie, kontaktieren Sie uns:

+49 (0)69/92022-480

vertrieb@dpa-AFX.de

dpa-AFX auf Twitter

Folgen Sie uns auf Twitter www.twitter.com/dpaAFX