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04.12.2020

Lilly, UnitedHealth Partner On Pragmatic Study Of Bamlanivimab For COVID-19

INDIANAPOLIS (dpa-AFX) - Eli Lilly and Company (LLY) and UnitedHealth Group (UNH) has partnered to conduct a pragmatic study of bamlanivimab (LY-CoV555) in high-risk, COVID-19 infected individuals. The study will evaluate the efficacy and safety of bamlanivimab versus a propensity-matched control in individuals that meet the EUA criteria. Bamlanivimab recently received Emergency Use Authorization for the treatment of mild to moderate COVID-19 patients who are at high risk for progressing to severe COVID-19 and/or hospitalization. The study is part of a collaborative partnership between OptumLabs, the scientific research arm of UnitedHealth Group, and Lilly.Copyright RTT News/dpa-AFX
04.12.2020

PSEG To Acquire 25% Interest In Ocean Wind Project

WASHINGTON (dpa-AFX) - Public Service Enterprise Group (PSEG) has agreed with Ørsted North America to acquire a 25% interest in the 1,100-megawatt Ocean Wind project. The Ocean Wind project will generate clean, zero-carbon electricity and power half a million New Jersey homes.PSEG Chairman, President and CEO Ralph Izzo. 'As New Jersey's first offshore wind project, Ocean Wind will lead the way for a productive first step into this forward-leaning industry, bringing with it new skills, jobs and carbon-free energy.'Copyright RTT News/dpa-AFX
04.12.2020

Kraft Heinz Releases 570-piece, All Ketchup-red Puzzle

WASHINGTON (dpa-AFX) - Kraft Heinz Canada, a subsidiary of Kraft Heinz (KHC), said it is re-releasing a limited run of its infamously slow Heinz Ketchup Puzzle for the Holidays. Heinz's 570-piece, all ketchup-red puzzle is available online now for C$35. The company noted that the Puzzle sales will be limited to one per customer.'When we initially released the Heinz Ketchup Puzzle, Canadians couldn't get enough, and so we decided to bring it back. It's a perfect and unique gift for those HEINZ fans,' said Daniel Gotlib, Associate Director, Brand Building & Innovation, Kraft Heinz Canada.Copyright RTT News/dpa-AFX
04.12.2020

KKR Announces Acquisitions Of Industrial Distribution Properties In Dallas And Houston

WASHINGTON (dpa-AFX) - KKR announced the acquisition of two industrial distribution properties in Texas for an aggregate purchase price of approximately $171 million. The newly acquired properties are located in the markets of Dallas and Houston. The properties were acquired from Hines.KKR noted that the two properties are the latest industrial assets acquired by the company's core plus real estate strategy, growing its total industrial real estate portfolio to approximately 7.2 million square feet.Copyright RTT News/dpa-AFX
04.12.2020

Big Lots Inc. Q3 adjusted earnings Beat Estimates

WASHINGTON (dpa-AFX) - Big Lots Inc. (BIG) reported earnings for third quarter that declined from the same period last year.The company's earnings came in at $29.91 million, or $0.76 per share. This compares with $126.98 million, or $3.25 per share, in last year's third quarter.Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 17.9% to $1.38 billion from $1.17 billion last year.Big Lots Inc. earnings at a glance:-EPS (Q3): $0.76 vs. -$0.18 last year.-Analysts Estimate: $0.66 -Revenue (Q3): $1.38 Bln vs. $1.17 Bln last year.Copyright RTT News/dpa-AFX
04.12.2020

Great Portland Lets 17,700 Sq Ft Of Office Space At Hickman Development To Four Communications

LONDON (dpa-AFX) - Great Portland Estates plc (GPOR.L) said Friday that it has let 17,700 sq ft of office space at The Hickman development on Whitechapel Road, E1 to integrated marketing and communications agency Four Communications Group Limited. The company noted that Four Communications will occupy the offices on the fifth, sixth and seventh floors at The Hickman, 2/4 Whitechapel Road, E1 on ten year leases, paying an annual rent of 1.1 million pounds. The lease has a tenant break option in the seventh year.The transaction leaves a further 57,600 sq ft of which negotiations are ongoing on 20,600 sq ft.The company noted that Four Communications is currently an existing GPE occupier at New City Court, SE1 which they will vacate once the leases complete at The Hickman, thereby enabling the redevelopment of New City Court to create a best in class office development of about 370,000 sq ft.The Hickman is a seven storey building that has undergone an extensive refurbishment to provide 75,300 sq ft of repositioned office space. There are terraces on four floors in addition to a communal, landscaped courtyard on the ground floor.Copyright RTT News/dpa-AFX
04.12.2020

McBride Plc Issues Trading Update

LONDON (dpa-AFX) - McBride Plc (MCB.L) said the Board's current outlook for the year ending 30 June 2021 is that profit before tax is expected to be at least 10% ahead of the current market consensus of 25.2 million pounds.The Board now expects first half sales growth of approximately 2%. The Group said this improved revenue performance combined with continued factory efficiencies, limited operational impact from COVID-19, lower than expected operating costs and input costs for certain raw material and packaging items, will see a material year-on-year improvement in first half earnings.Copyright RTT News/dpa-AFX
04.12.2020

SSE To Sell 10% Stake In First Two Phases Of Dogger Bank Wind Farm To Eni For £202.5 Mln

PERTH (SCOTLAND) (dpa-AFX) - SSE plc (SSE.L), on Friday, said it agreed to sell a 10% stake in the first two phases of Dogger Bank Wind Farm to Eni for an equity consideration of £202.5 million, subject to adjustments for interest on closing. The transaction, which is subject to regulatory and lender approvals, is expected to complete in early 2021.The company has planned to use the proceeds to enable delivery of its low carbon growth plans. Divesting this stake in Dogger Bank Wind Farm is in line with SSE's stated intention to partner to capitalise on its significant growth opportunities related to net zero. Eni has also agreed to buy a 10% stake in Dogger Bank A & B from project partner Equinor. Upon completion, the new overall shareholding in Dogger Bank A (1,200MW) and Dogger Bank B (1,200MW) would be - SSE (40%), Equinor (40%) and Eni (20%).Copyright RTT News/dpa-AFX
04.12.2020

Landsec Sells 1 & 2 New Ludgate

LONDON (dpa-AFX) - Land Securities Group Plc (LAND.L) has exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for a cash consideration of 552 million pounds. The Group said the proceeds will initially be used to pay down debt before being reinvested into growth opportunities over time.1 New Ludgate comprises 183,305 sq ft of office and retail accommodation and is multi-let to several occupiers. 2 New Ludgate comprises 206,310 sq ft of office and retail accommodation, with the offices let entirely to Mizuho Bank.Copyright RTT News/dpa-AFX
04.12.2020

Berkeley Group H1 Pretax Profit Declines

LONDON (dpa-AFX) - The Berkeley Group Holdings plc (BKG.L) reported profit before tax of 230.8 million pounds for the six months ended 31 October 2020 compared to 276.7 million pounds, previous year. Earnings per share was 146.2 pence compared to 170.4 pence. First half revenue declined to 895.9 million pounds from 930.9 million pounds, last year. Rob Perrins, Chief Executive, said: 'Berkeley's performance over the last six months is characterised by four features. First, the resolve and expertise of our people and supply chain who have adapted their working practices to ensure they could continue serving our customers and meeting our commitments to all stakeholders safely and securely within the unprecedented constraints placed upon us all by Covid-19.'Copyright RTT News/dpa-AFX
04.12.2020

U.S. Stocks Reach Record Highs As Jobs Data Sparks Stimulus Optimism

WASHINGTON (dpa-AFX) - Stocks showed a strong move to the upside over the course of the trading session on Friday. After ending the previous session mixed, the major averages all climbed to new record closing highs.The major averages ended the session at their best levels of the day. The Dow advanced 248.74 points or 0.8 percent to 30,218.26, the Nasdaq climbed 87.05 points or 0.7 percent to 12,464.23 and the S&P 500 jumped 32.40 points or 0.9 percent to 3,699.12.For the week, the Nasdaq spiked by 2.1 percent, the S&P 500 surged up by 1.7 percent and the Dow shot up by 1 percent.The strength on Wall Street comes despite the release of a report from the Labor Department showing much weaker than expected job growth in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.However, the bigger than expected drop in the unemployment rate came as a 400,000-person decline in the labor force far outpaced the 74,000-person drop in the household measure of employment.'The latter is not too much of a concern given it follows a 2.3 million gain in October, but the drop in the labor force, which is now 4 million below its pre-pandemic level, is a worrying sign that the unemployed are giving up looking for work,' said Michael Pearce, U.S. Senior Economist at Capital Economics.Continued optimism about coronavirus vaccines may be helping traders shrug off the disappointing jobs data, as the slowdown in job growth came amid the recent surge in new cases and subsequent restrictions.Traders may also be hoping that the weaker than expected job growth will spur lawmakers in Washington to finally pass a new fiscal stimulus bill.In a post on Twitter, Senate Minority Leader Chuck Schumer, D-N.Y., said the jobs data 'shows the need for strong, urgent emergency relief is more important than ever.'House Speaker Nancy Pelosi, D-Calif., also claimed that the weaker than expected job growth has created 'momentum' toward a stimulus deal.Democratic and Republican leaders have resumed negotiations over a new stimulus bill, although it remains to be seen if they can reach an agreement after months of stagnation.Sector NewsEnergy stocks continue turned some of the market's best performances on the day, benefiting from an increase by the price of crude oil. Crude for January delivery climbed $0.62 to $46.26 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index skyrocketed by 7.4 percent, the NYSE Arca Oil Index spiked by 6 percent and the NYSE Arca Natural Gas Index soared by 5.4 percent.Significant strength was also visible among steel stocks, as reflected by the 4.6 percent jump by the NYSE Arca Steel Index. The index reached its best closing level in two years.Computer hardware stocks also saw considerable strength on the day, driving the NYSE Arca Computer Hardware Index up by 3.8 percent to a record closing high.Semiconductor, chemical and networking stocks also moved notably higher, while utilities stocks moved to the downside over the course of the session.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index dipped by 0.2 percent, while China's Shanghai Composite Index inched up by 0.1 percent.Meanwhile, the major European markets all moved to the upside on the day. While the U.K.'s FTSE 100 Index advanced by 0.9 percent, the French CAC 40 Index climbed by 0.6 percent and the German DAX Index rose by 0.4 percent.In the bond market, treasuries came under pressure despite the weaker than expected jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.9 basis points at 0.969 percent.Looking AheadNext week's trading may be driven by reaction to developments on the stimulus front, although traders are also likely to keep an eye on reports on consumer and producer price inflation and consumer sentiment.Copyright RTT News/dpa-AFX
04.12.2020

Swiss Stock Market Halts Four-Day Slide On Friday

FRANKFURT (dpa-AFX) - The Swiss stock market on Friday wrote a finish to the four-day losing streak in which it had tumbled almost 160 points or 1.6 percent. The market opened firmly higher but saw erratic trade and slipped briefly into the red before rebounding to finish in the green.The early support came as vaccine hopes, rising oil prices and growing prospects of a large U.S. economic stimulus package helped underpin sentiment, while the upside remained capped by rising coronavirus cases in the U.S. and escalating U.S.-China tensions.The SMI advanced 21.87 points or 0.21 percent to finish at 10,364.50 after trading between 10,338.91 and 10,392.18.Among the actives, Credit Suisse jumped 1.33 percent, while Adecco climbed 0.94 percent, Julius Bar Gruppe dropped 0.90 percent, Roche Holdings advanced 0.85 percent, Lafarge Holcim added 0.73 percent, UBS Group sank 0.43 percent, Swatch Group lost 0.36 percent, Novartis gained 0.35 percent, Zurich Insurance fell 0.27 percent, ABB rose 0.21 percent and Swiss Life was up 0.20 percent.The higher close was in line with the other European markets, which gained ground on optimism over a swift economic recovery from the coronavirus pandemic.Germany's DAX added 46.10 points or 0.35 percent to 13,298.96, while London's FTSE climbed 59.96 points or 0.92 percent to 6,550.23 and the CAC 40 in France rose 34.79 points or 0.62 percent to 5,609.15.Copyright RTT News/dpa-AFX
04.12.2020

European Markets Close In The Green On Friday

PARIS (dpa-AFX) - The European stocks finished higher on Friday on optimism over a swift economic recovery from the coronavirus pandemic - shaking off Thursday's mixed performance.Vaccine hopes, rising oil prices and growing prospects of a large U.S. economic stimulus package helped underpin sentiment, while the upside remained capped by rising coronavirus cases in the U.S. and escalating U.S.-China tensions.Germany's DAX added 46.10 points or 0.35 percent to 13,298.96, while London's FTSE climbed 59.96 points or 0.92 percent to 6,550.23 and the CAC 40 in France rose 34.79 points or 0.62 percent to 5,609.15.In Germany, Infineon Technologies surged 2.92 percent, while Daimler soared 2.54 percent, Deutsch Post tumbled 2.05 percent, Deutsche Telekom jumped 1.13 percent, Deutsche Borse sank 1.01 percent, BASF added 0.63 percent, Volkswagen lost 0.45 percent, E.On rose 0.20 percent and Deutsche Bank eased 0.09 percent.In London, GVC plummeted 3.97 percent, while Rolls-Royce plunged 3.45 percent, Royal Dutch Shell surged 3.39 percent, Prudential spiked 2.72 percent, Vodafone rallied 2.36 percent, Rightmove sank 1.11 percent, M&G dropped 0.96 percent, Tesco lost 0.92 percent, Persimmon added 0.49 percent, Standard Life Aberdeen gained 0.42 percent and British American Tobacco rose 0.24 percent.In France, Credit Agricole soared 4.00 percent, while Accor spiked 3.48 percent, Peugeot jumped 3.40 percent, BNP Paribas rallied 1.93 percent, Societe Generale jumped 1.39 percent, Vivendi dropped 0.95 percent, Orange gained 0.72 percent, Sanofi rose 0.69 percent, ENGIE fell 0.68 percent, Danone was up 0.51 percent and Carrefour fell 0.30 percent.In economic news, Germany's factory orders grew at a faster pace in October, data from Destatis revealed Friday. Orders grew 2.9 percent on month in October, faster than September's 1.1 percent rise. Orders were forecast to climb 1.5 percent.Germany's construction sector continued to contract in November amid uncertainty caused by the pandemic and fewer public sector tender opportunities, survey data from IHS Markit showed Friday. However, the score has been below the 50 no-change threshold for the ninth straight month indicating contraction in the sector.Hungary's industrial production rose at the fastest rate in nine months in October, the Hungarian Central Statistical Office showed on Friday. Industrial production grew a working-day adjusted 2.7 percent year-on-year in October, after a 1.0 percent decrease in September. The latest growth in output was the biggest since January.Italy's retail sales grew in October after falling in the previous month, the statistical office ISTAT said on Friday. The retail sales value rose a seasonally adjusted 0.6 percent month-on-month in October, after a 0.7 percent fall in September. In August, retail sales grew 8.2 percent.Copyright RTT News/dpa-AFX
04.12.2020

Major Averages Hovering Near New Record Highs In Afternoon Trading

WASHINGTON (dpa-AFX) - Stocks remain mostly positive in afternoon trading on Friday after moving the upside early in the session. With the upward move on the day, the major averages have all reached new record intraday highs.Currently, the major averages are hovering firmly in positive territory. The Dow is up 154.20 points or 0.5 percent at 30,123.72, the Nasdaq is up 77.15 points or 0.6 percent at 12,454.33 and the S&P 500 is up 24.05 points or 0.7 percent at 3,690.77.The strength on Wall Street comes despite the release of a report from the Labor Department showing much weaker than expected job growth in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.However, the bigger than expected drop in the unemployment rate came as a 400,000-person decline in the labor force far outpaced the 74,000-person drop in the household measure of employment.'The latter is not too much of a concern given it follows a 2.3 million gain in October, but the drop in the labor force, which is now 4 million below its pre-pandemic level, is a worrying sign that the unemployed are giving up looking for work,' said Michael Pearce, U.S. Senior Economist at Capital Economics.Continued optimism about coronavirus vaccines may be helping traders shrug off the disappointing jobs data, as the slowdown in job growth came amid the recent surge in new cases and subsequent restrictions.Traders may also be hoping that the weaker than expected job growth will spur lawmakers in Washington to finally pass a new fiscal stimulus bill.In a post on Twitter, Senate Minority Leader Chuck Schumer, D-N.Y., said the jobs data 'shows the need for strong, urgent emergency relief is more important than ever.'House Speaker Nancy Pelosi, D-Calif., also claimed that the weaker than expected job growth has created 'momentum' toward a stimulus deal.Democratic and Republican leaders have resumed negotiations over a new stimulus bill, although it remains to be seen if they can reach an agreement after months of stagnation.Sector NewsEnergy stocks continue to turn in some of the market's best performances in afternoon trading. The price of crude oil for January delivery has pulled back off its best levels but remains up $0.31 at $45.95 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index is up by 6 percent, the NYSE Arca Oil Index is up by 4.7 percent and the NYSE Arca Natural Gas Index is up by 3.9 percent.Significant strength also remains visible among steel stocks, as reflected by the 3.8 percent jump by the NYSE Arca Steel Index. The index has reached its best intraday level in two years.Computer hardware stocks also continue to see considerable strength on the day, driving the NYSE Arca Computer Hardware Index up by 3.1 percent to a record intraday high.Semiconductor, brokerage and chemical stocks are also seeing notable strength, while some weakness has emerged among utilities and gold stocks.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index dipped by 0.2 percent, while China's Shanghai Composite Index inched up by 0.1 percent.Meanwhile, the major European markets all moved to the upside on the day. While the U.K.'s FTSE 100 Index advanced by 0.9 percent, the French CAC 40 Index climbed by 0.6 percent and the German DAX Index rose by 0.4 percent.In the bond market, treasuries have come under pressure despite the weaker than expected jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 4.9 basis points at 0.969 percent.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Stocks Reach Record Highs As Traders Shrug Off Jobs Data

WASHINGTON (dpa-AFX) - With traders shrugging off weaker than expected jobs data, stocks have moved mostly higher in morning trading on Friday. The upward move on the day has lifted the major averages to new record intraday highs.The major averages have seen further upside in recent trading, reaching new highs for the session. The Dow is up 160.25 points or 0.5 percent at 30,129.77, the Nasdaq is up 57.16 points or 0.5 percent at 12,434.35 and the S&P 500 is up 24.56 points or 0.7 percent at 3,691.28.The strength on Wall Street comes despite the release of a report from the Labor Department showing much weaker than expected job growth in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.However, the bigger than expected drop in the unemployment rate came as a 400,000-person decline in the labor force far outpaced the 74,000-person drop in the household measure of employment.'The latter is not too much of a concern given it follows a 2.3 million gain in October, but the drop in the labor force, which is now 4 million below its pre-pandemic level, is a worrying sign that the unemployed are giving up looking for work,' said Michael Pearce, U.S. Senior Economist at Capital Economics.Continued optimism about coronavirus vaccines may be helping traders shrug off the disappointing jobs data, as the slowdown in job growth came amid the recent surge in new cases and subsequent restrictions.Traders may also be hoping that the weaker than expected job growth will spur lawmakers in Washington to finally pass a new fiscal stimulus bill.In a post on Twitter, Senate Minority Leader Chuck Schumer, D-N.Y., said the jobs data 'shows the need for strong, urgent emergency relief is more important than ever.'Democratic and Republican leaders have resumed negotiations over a new stimulus bill, although it remains to be seen if they can reach an agreement after months of stagnation.Energy stocks have shown a substantial move to the upside, benefiting from an increase by the price of crude oil. Crude for January delivery is rising $0.50 to $46.14 a barrel.Reflecting the strength in the energy sector, the NYSE Arca Oil Index is up by 5.2 percent, the Philadelphia Oil Service Index is up by 5 percent and the NYSE Arca Natural Gas Index is up by 4.2 percent.Considerable strength has also emerged among steel stocks, as reflected by the 3.2 percent jump by the NYSE Arca Steel Index. The index has reached its best intraday level in two years.Computer hardware, brokerage and networking stocks are also seeing significant 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 Friday. Japan's Nikkei 225 Index dipped by 0.2 percent, while China's Shanghai Composite Index inched up by 0.1 percent.Meanwhile, the major European markets have all moved to the upside on the day. While the U.K.'s FTSE 100 Index has advanced by 0.9 percent, the French CAC 40 Index is up by 0.4 percent and the German DAX Index is up by 0.1 percent.In the bond market, treasuries have come under pressure despite the weaker than expected jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 6.1 basis points at 0.981 percent.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Stocks May Open Higher Despite Weaker Than Expected Jobs Data

WASHINGTON (dpa-AFX) - Following the pullback seen late in the previous session, stocks are likely to move back to the upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 115 points.The futures have held on to earlier gains despite the release of a report from the Labor Department showing much weaker than expected job growth in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.Continued optimism about coronavirus vaccines may be helping traders shrug off the disappointing jobs data, as the slowdown in job growth came amid the recent surge in new cases and subsequent restrictions.Traders may also be hoping that the weaker than expected job growth will spur lawmakers in Washington to finally pass a new fiscal stimulus bill.In other economic news, a report released by the Commerce Department showed the U.S. trade deficit widened in the month of October.The report said the trade deficit widened to $63.1 billion in October from a revised $62.1 billion in September. Economists had expected the deficit to widen to $64.8 billion from the $63.9 billion originally reported for the previous month.Not long after the start of trading, the Commerce Department is scheduled to release its report on new orders for manufactured goods in the month of October. Factory orders are expected to increase by 0.8 percent.After seeing strength for much of the session, stocks came under pressure going into the close of trading on Thursday. The major averages pulled back well off their highs, with the S&P 500 sliding into negative territory.The S&P 500 edged down 2.29 points 0.1 percent to 3,666.72 after reaching a record intraday high, while the Dow rose 85.73 points or 0.3 percent to 29,969.52 and the Nasdaq edged up 27.82 points or 0.2 percent to a new record closing high of 12,377.18.In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan's Nikkei 225 Index dipped by 0.2 percent, while China's Shanghai Composite Index inched up by 0.1 percent.Meanwhile, European stocks have moved mostly higher on the day, although the German DAX Index has bucked the uptrend and edged down by 0.1 percent. The French CAC 40 Index is up by 0.2 percent and the U.K.'s FTSE 100 Index is up by 0.6 percent.In commodities trading, crude oil futures are climbing $0.45 to $46.09 a barrel after rising $0.36 to $45.64 a barrel on Thursday. Meanwhile, after advancing $10.90 to $1,841.10 an ounce in the previous session, gold futures are edging up $4.10 to $1,845.20 an ounce.On the currency front, the U.S. dollar is trading at 103.99 yen versus the 103.84 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.2147 compared to yesterday's $1.2144.Copyright RTT News/dpa-AFX
04.12.2020

Wall Street Might Open Positive

WASHINGTON (dpa-AFX) - Initial cues from the U.S. Futures suggest that Wall Street might open higher. Investors are looking ahead to the transition of the U.S. Presidency and the developments in the vaccine for COVID-19. Asian shares finished mostly higher, while European shares are trading lower. Employment Situation for November and International Trade in Goods and Services for October are the major announcements on Friday. As of 7.30 am ET, the Dow futures were adding 142.00 points, the S&P 500 futures were progressing 13.50 points and the Nasdaq 100 futures were gaining 42.00 points.The S&P 500 edged down 2.29 points 0.1 percent to 3,666.72 after reaching a record intraday high, while the Dow rose 85.73 points or 0.3 percent to 29,969.52 and the Nasdaq edged up 27.82 points or 0.2 percent to a new record closing high of 12,377.18.On the economic front, the Labor Department's Employment Situation for November will be published at 8.30 am ET. The consensus for nonfarm payrolls is 500,000, while it was 638,000. The unemployment rate is expected to be 6.8 percent, while it was up 6.9 percent in September. The Department of Commerce's International Trade in Goods and Services for October will be issued at 8.30 am ET. The consensus is for a deficit of $64.8 billion, while the deficit was $63.9 billion in the prior month. The Department of Commerce's Factory Orders for October will be revealed at 10.00 am ET. The consensus is for an increase of 0.8 percent, while it was up 1.1 percent in September. The Baker Hughes Rig Count for the week will be released at 1.00 pm ET. In the prior week, the North America Rig Count was up 422 and the U.S. Rig Count was 320. Chicago Federal Reserve Bank President Charles Evans will participate in a virtual moderated question-and-answer session before the Michigan Bankers Association at 9.00 am ET. Federal Reserve Governor Michelle Bowman to speak on 'Community Banking and FinTech' before the virtual Independent Community Bankers of America (ICBA) ThinkTECH Policy Summit at 10.00 am ET. Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated question-and-answer session related to the regional economy of southeast Minnesota before the virtual Southeast Minnesota 2020 Economic Summit at 11.00 am ET. Asian stocks finished mostly higher on Friday. Chinese shares ended on a flat note. The benchmark Shanghai Composite index finished marginally higher at 3,444.58, while Hong Kong's Hang Seng index edged up 0.40 percent to 26,835.92.Japanese shares fell from a near 29-1/2-year high. The Nikkei average ended down 58.13 points, or 0.22 percent, at 26,751.24, but posted its fifth consecutive weekly gain. The broader Topix index ended marginally higher at 1,775.94.Australian markets eked out modest gains, led by banks. The benchmark S&P/ASX 200 index rose 18.80 points, or 0.28 percent, to 6,634.10 and posted its fifth consecutive weekly gain. The broader All Ordinaries index edged up 18 points, or 0.26 percent, to 6,865.30.European shares are trading mostly lower. Among the major indexes in the region, the German DAX is losing 20.45 points or 0.15 percent, the U.K. FTSE 100 Index is gaining 59.44 points or 0.92 percent. The Swiss Market Index is adding 3.68 points or 0.04 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.13 percent.Copyright RTT News/dpa-AFX
04.12.2020

European Shares Inch Higher On Recovery Hopes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks gained ground on Friday on optimism over a swift economic recovery from the coronavirus pandemic.Vaccine hopes, rising oil prices and growing prospects of a large U.S. economic stimulus package helped underpin sentiment, while the upside remained capped by rising coronavirus cases in the U.S. and escalating U.S.-China tensions.In economic releases, German factory orders grew at a faster pace in October, data from Destatis revealed, in a good sign for the region's recovery. Factory orders grew 2.9 percent sequentially in October, faster than September's 1.1 percent rise. Orders were forecast to climb 1.5 percent.Year-on-year, factory orders advanced 1.8 percent, in contrast to a 1.1 percent decrease in September.The pan European Stoxx 600 rose 0.2 percent to 392.52 after closing flat with a positive bias on Thursday. The German DAX was little changed and France's CAC 40 index gained 0.4 percent, while the U.K.'s FTSE 100 climbed 0.7 percent to a nine-month high. Brexit talks continued to drag on, with British officials accusing French President Emmanuel Macron of making fresh demands at the eleventh hour.Energy stocks gained ground as OPEC and other oil producing countries such as Russia and Saudi Arabia agreed to increase output beginning next month at a much slower pace to overcome coronavirus-induced demand concerns.Total SE gained 1.9 percent, BP Plc rallied 2.5 percent and Royal Dutch Shell advanced 2.2 percent.SSE Plc shares jumped 3.5 percent. The energy company said it agreed to sell a 10 percent stake in the first two phases of Dogger Bank Wind Farm to Eni for an equity consideration of £202.5 million.Property developer Berkeley Group Holdings gave up 2.8 percent after posting a fall in profit for the first half of financial 2021.Associated British Foods rose over 2 percent. The food processing company said that it continues to expect Primark sales and profit to be higher this financial year compared to last.Dassault Aviation soared 6 percent after reports that Indonesia may buy 48 Rafale jet fighters.Latour plummeted over 10 percent after its majority owner announced the sale of 10 million shares in the Swedish investment company.BioNtech shares fell 2.3 percent as Pfizer slashed the 2020 production target of its Covid-19 vaccine, citing challenges in supply chain.Meanwhile, Moderna said it expects to supply up to 125 million doses of its experimental vaccine around the world in the first quarter of 2021.Copyright RTT News/dpa-AFX
04.12.2020

FTSE 100 Hits Nine-month High

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Friday to extend gains from the previous session, even as Brexit talks continued to drag on, with British officials accusing French President Emmanuel Macron of making fresh demands at the eleventh hour.The benchmark FTSE 100 rose 46 points, or 0.7 percent, to a nine-month high of 6,538 on optimism over a swift economic recovery from the coronavirus pandemic. Energy stocks gained ground as OPEC and other oil producing countries such as Russia and Saudi Arabia agreed to increase output beginning next month at a much slower pace to overcome coronavirus-induced demand concerns.BP Plc rallied 2.5 percent and Royal Dutch Shell advanced 2.2 percent. SSE Plc shares jumped 3.5 percent. The energy company said it agreed to sell a 10 percent stake in the first two phases of Dogger Bank Wind Farm to Eni for an equity consideration of £202.5 million.Property developer Berkeley Group Holdings gave up 2.8 percent after posting a fall in profit for the first half of financial 2021.Associated British Foods rose over 2 percent. The food processing company said that it continues to expect Primark sales and profit to be higher this financial year compared to last.Copyright RTT News/dpa-AFX
04.12.2020

CAC 40 Rises On US Stimulus Hopes

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rose on Friday, with vaccine hopes and growing prospects of a large U.S. economic stimulus package offering support. U.S. House speaker Nancy Pelosi and Senate Democrat leader Chuck Schumer said they 'could come to an agreement' based on a $908bn (£674bn) plan devised by a bipartisan group of lawmakers. The benchmark CAC 40 rose 25 points, or 0.4 percent, to 5,599 after ending 0.2 percent lower the previous day. The upside was capped by rising coronavirus cases in the U.S. and escalating U.S.-China tensions after the Pentagon added more Chinese firms to a blacklist of alleged Chinese military companies.Total SE climbed nearly 2 percent as OPEC and Russia cleared the hurdle of exiting the current oil output cuts in a coordinated way.Remy Cointreau Group edged up slightly. The wines and spirits company said that it has sold its shares in the Passoa SAS joint venture to Lucas Bols Amsterdam B.V. for 71.3 million euros.Dassault Aviation soared 6 percent after reports that Indonesia may buy 48 Rafale jet fighters.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Factory Orders Jump More Than Expected In October

WASHINGTON (dpa-AFX) - Data released by the Commerce Department on Friday showed new orders for U.S. manufactured goods increased for the sixth consecutive month in October.The Commerce Department said factory orders climbed by 1.0 percent in October after surging by an upwardly revised 1.3 percent in September.Economists had expected factory orders to increase by 0.8 percent compared to the 1.1 percent jump originally reported for the previous month.The report said orders for durable goods shot up by 1.3 percent, unchanged from the previously published increase, while orders for non-durable goods rose by 0.7 percent.Shipments of manufactured goods also increased for the sixth consecutive month, jumping by 1.0 percent in October after rising by 0.5 percent in September.Meanwhile, the Commerce Department said inventories ticked up by 0.2 percent in October after edging down by 0.1 percent in September.With shipments rising by more than inventories, the inventories-to-shipments ratio slipped to 1.41 in October from 1.42 in September.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Trade Deficit Widens As Imports Rise More Than Exports

WASHINGTON (dpa-AFX) - With the value of imports rising by more than the value of exports, the Commerce Department released a report on Friday showing the U.S. trade deficit widened in the month of October.The report said the trade deficit widened to $63.1 billion in October from a revised $62.1 billion in September. Economists had expected the deficit to widen to $64.8 billion from the $63.9 billion originally reported for the previous month.The wider deficit came as the value of imports increased by $5.0 billion or 2.1 percent to $245.1 billion, while the value of exports climbed by $4.0 billion or 2.2 percent to $182.0 billion.The increase in the value of imports reflected notable growth in imports of cell phones and other household goods, computer accessories and industrial supplies and materials.Meanwhile, significant growth in exports of natural gas, organic chemicals, civilian aircraft and semiconductors contributed to the increase in the value of exports.'With a slowdown in consumption weighing on goods imports and the recovery in production and exports still catching up, the trade deficit is likely to be little changed over the coming months,' said Michael Pearce, U.S. Senior Economist at Capital Economics.The report said the goods deficit widened to $81.4 billion in October from $80.8 billion in September, while the services surplus fell to $18.3 billion from $18.7 billion.Copyright RTT News/dpa-AFX
04.12.2020

US OCT DURABLE ORDERS +1.3%

Copyright RTT News/dpa-AFX
04.12.2020
04.12.2020

U.S. Employment Rises Much Less Than Expected Amid Surge In Coronavirus Cases

WASHINGTON (dpa-AFX) - Reflecting renewed restrictions amid the recent surge in new coronavirus cases, the Labor Department released a report on Friday showing U.S. job growth slowed by much more than anticipated in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.The weaker than expected job growth was partly due to the loss of 99,000 government jobs amid a decline in the number of temporary census workers.At the same time, the report also showed a decrease in retail employment as well as a significant slowdown in the pace of job growth in the leisure and hospitality sector.The Labor Department said the increase in employment in November reflected notable job gains in transportation and warehousing, professional and business services, and healthcare.Despite the weaker than expected job growth, the report said the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.However, the bigger than expected drop in the unemployment rate came as a 400,000-person decline in the labor force far outpaced the 74,000-person drop in the household measure of employment.'The latter is not too much of a concern given it follows a 2.3 million gain in October, but the drop in the labor force, which is now 4 million below its pre-pandemic level, is a worrying sign that the unemployed are giving up looking for work,' said Michael Pearce, U.S. Senior Economist at Capital Economics.The report said average hourly employee earnings rose by $0.09 or 0.3 percent to $29.58 in November. Annual wage growth was unchanged from the previous month at 4.4 percent.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Trade Deficit Widens In October

WASHINGTON (dpa-AFX) - With the value of imports rising by more than the value of exports, the Commerce Department released a report on Friday showing the U.S. trade deficit widened in the month of October.The report said the trade deficit widened to $63.1 billion in October from a revised $62.1 billion in September. Economists had expected the deficit to widen to $64.8 billion from the $63.9 billion originally reported for the previous month.The wider deficit came as the value of imports increased by $5.0 billion or 2.1 percent to $245.1 billion, while the value of exports climbed by $4.0 billion or 2.2 percent to $182.0 billion.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Employment Rises Much Less Than Expected In November

WASHINGTON (dpa-AFX) - A closely watched report released by the Labor Department on Friday showed U.S. job growth slowed by much more than anticipated in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.Copyright RTT News/dpa-AFX
04.12.2020
04.12.2020

Ireland Exits Recession In Q3

DUBLIN (dpa-AFX) - Ireland's economy recovered from a technical recession in the third quarter, the Central Statistics Office reported Friday. After the relaxation of Covid-19 containment measures, gross domestic product grew 11.1 percent sequentially, in contrast to the 3.2 percent fall in the second quarter.On the expenditure-side, private consumption advanced 21.3 percent following the sharp fall in the second quarter. Private consumption expenditure accounted for 47.9 percent of final domestic demand. Exports of goods and services increased 5.7 percent. Capital formation climbed 4.4 percent compared with the previous quarter, while government expenditure showed a moderate increase of 0.1 percent.On a yearly basis, GDP was up 8.1 percent in the third quarter, data showed.Copyright RTT News/dpa-AFX
04.12.2020

U.S. Dollar Recovers From Two-And-A-Half Year Low, Edges Higher

WASHINGTON (dpa-AFX) - After falling to a two-and-a-half year low early in the day, the U.S. recovered over the course of trading on Friday.The U.S. dollar index fell to a low 90.48 in morning trading but rebounded and is currently up 0.1 percent at 90.79.The greenback is trading at 104.15 yen versus the 103.84 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.2120 compared to yesterday's $1.2144.The volatility on the day came as traders reacted to a report from the Labor Department showing much weaker than expected job growth in the month of November.The Labor Department said non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent.However, the bigger than expected drop in the unemployment rate came as a 400,000-person decline in the labor force far outpaced the 74,000-person drop in the household measure of employment.'The latter is not too much of a concern given it follows a 2.3 million gain in October, but the drop in the labor force, which is now 4 million below its pre-pandemic level, is a worrying sign that the unemployed are giving up looking for work,' said Michael Pearce, U.S. Senior Economist at Capital Economics.While the data reflects the economic impact of the recent spike in coronavirus cases, traders seem optimistic the report will spur lawmakers in Washington to finally pass a new fiscal stimulus bill.In a post on Twitter, Senate Minority Leader Chuck Schumer, D-N.Y., said the jobs data 'shows the need for strong, urgent emergency relief is more important than ever.'House Speaker Nancy Pelosi, D-Calif., also claimed that the weaker than expected job growth has created 'momentum' toward a stimulus deal.Democratic and Republican leaders have resumed negotiations over a new stimulus bill, although it remains to be seen if they can reach an agreement after months of stagnation.In other economic news, a report released by the Commerce Department showed the U.S. trade deficit widened in the month of October.The report said the trade deficit widened to $63.1 billion in October from a revised $62.1 billion in September. Economists had expected the deficit to widen to $64.8 billion from the $63.9 billion originally reported for the previous month.The Commerce Department also released a separate report showing new orders for U.S. manufactured goods increased for the sixth consecutive month in October.Copyright RTT News/dpa-AFX
04.12.2020

Dollar Rebounds After Weak U.S. Jobs Data

BRUSSELS (dpa-AFX) - The U.S. dollar recovered against its major counterparts in the European session on Friday, as a sharp slowdown in U.S. job growth for November lifted the appeal of the safe-haven currency.Data from the Labor Department showed that the non-farm payroll employment rose by 245,000 jobs in November after jumping by a downwardly revised 610,000 jobs in October.Economists had expected employment to increase by 469,000 jobs compared to the addition of 638,000 jobs originally reported for the previous month.Despite the weaker than expected job growth, the unemployment rate dipped to 6.7 percent in November from 6.9 percent in October. The unemployment rate was expected to edge down to 6.8 percent. Data from the Commerce Department showed that the U.S. trade deficit widened in the month of October.The report said the trade deficit widened to $63.1 billion in October from a revised $62.1 billion in September. Economists had expected the deficit to widen to $64.8 billion from the $63.9 billion originally reported for the previous month.The wider deficit came as the value of imports increased by $5.0 billion or 2.1 percent to $245.1 billion, while the value of exports climbed by $4.0 billion or 2.2 percent to $182.0 billion. Risk sentiment improved on optimism over a swift economic recovery from the coronavirus pandemic.House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell held discussions on a coronavirus stimulus deal as Congress races to reach an accord and avoid a government shutdown. McConnell said there were 'hopeful signs' for striking a stimulus deal before the end of the year, but he did not elaborate in detail.The currency showed mixed performance against its major counterparts in the Asian session. While it rose against the yen, it dropped against the pound and the euro. Against the franc, it held steady.The greenback edged up to 104.11 against the yen, after having dropped to 103.74 at 7:30 pm ET. The pair was worth 103.83 when it ended deals on Thursday. Should the greenback continues its rise, 108.00 is possibly seen as its next resistance level. The greenback bounced off to 0.8917 against the franc, after falling as low as 0.8886, which was its weakest level since January 2015. At Thursday's close, the pair was valued at 0.8903. The greenback is seen finding resistance around the 0.92 level. The greenback advanced to 1.2132 against the euro, from a 2-1/2-year low of 1.2178 touched at 5:45 am ET. The pair had closed Thursday's deals at 1.2139. On the upside, 1.18 is possibly seen as its next resistance level.Data from Destatis showed that German factory orders grew at a faster pace in October.Factory orders grew 2.9 percent on month in October, faster than September's 1.1 percent rise. Orders were forecast to climb 1.5 percent.In contrast, the greenback declined to 1.3539 against the pound, a level unseen since May 2018. The pound-greenback pair had finished yesterday's trading session at 1.3441. The greenback is poised to find support around the 1.42 level.Survey data from IHS Markit showed that the UK construction sector continued to expand in November as new orders grew the most since late 2014.The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index rose unexpectedly to 54.7 in November from 53.1 in October.U.S. factory orders for October are set for release at 10:00 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Loonie Rises After Canada Trade Report, Jobs Data

CANBERA (dpa-AFX) - Statistics Canada has released Canada trade report for October and jobs data for November at 8:30 am ET Friday. Following these data, the loonie climbed against its major counterparts. The loonie was trading at 1.5621 against the euro, 80.90 against the yen, 0.9537 against the aussie and 1.2843 against the greenback around 8:33 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Dollar Falls After U.S. Trade Report, Jobs Data

BRUSSELS (dpa-AFX) - U.S. trade report for October and jobs data for November have been released at 8:30 am ET Friday. Following these reports, the greenback dropped against its major counterparts.The greenback was trading at 103.97 against the yen, 0.8902 against the franc, 1.2157 against the euro and 1.3470 against the pound around 8:35 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Dollar Mixed Ahead Of U.S. Trade Report, Jobs Data

BRUSSELS (dpa-AFX) - U.S. trade report for October and jobs data for November are due at 8:30 am ET Friday. Ahead of these reports, the greenback traded mixed against its major counterparts. While the greenback fell against the franc, it held steady against the rest of major rivals.The greenback was worth 103.99 against the yen, 0.8900 against the franc, 1.2157 against the euro and 1.3466 against the pound as of 8:25 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Loonie Mixed Ahead Of Canada Trade Report, Jobs Data

CANBERA (dpa-AFX) - Statistics Canada releases Canada trade report for October and jobs data for November at 8:30 am ET Friday. Ahead of these reports, the loonie traded mixed against its major counterparts. While the loonie climbed against the aussie, it held steady against the rest of major rivals.The loonie was worth 1.5632 against the euro, 80.86 against the yen, 0.9540 against the aussie and 1.2862 against the greenback as of 8:25 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Canadian Dollar Advances As OPEC Agrees To Increase Output

CANBERA (dpa-AFX) - The Canadian dollar gained ground against its major counterparts in the Asian session on Friday, as oil prices rose after OPEC and its allies agreed to raise the crude oil output by 500,000 barrels per day from next month.OPEC and its partners, known collectively as OPEC+, agreed to ease deep oil output cuts by 500,000 barrels per day to 7.2 mb/d from the present levels of 7.7 mb/d.'In light of the current oil market fundamentals and the outlook for 2021, the Meeting agreed to reconfirm the existing commitment under the DoC (Declaration of Cooperation) decision from 12 April 2020, then amended in June and September 2020, to gradually return 2 mb/d, given consideration to market conditions,' the OPEC said in a statement.The group decided to meet every month to assess market conditions and consider further production adjustments for the following month, with further monthly adjustments being no more than 0.5 mb/d.Asian stocks were mixed as a bipartisan, $908 billion coronavirus aid plan gained momentum in the U.S. Congress and negotiations over a Brexit trade deal continued, despite differences over fisheries, state aid for companies and rules to resolve disputes.Employment and trade data from the U.S. and Canada are due out later in the day.The loonie spiked up to more than a 2-year peak of 1.2848 versus the greenback and a 2-day high of 0.9545 against the aussie, after falling to 1.2874 and 0.9575, respectively earlier in the session. The loonie is seen finding resistance around 1.25 versus the greenback and 0.92 against the aussie.The loonie edged up to 80.88 against the yen and 1.5608 against the euro, off its early lows of 80.63 and 1.5635, respectively. On the upside, 82.00 and 1.51 are possibly seen as its next resistance levels against the yen and the euro, respectively.Looking ahead, U.K. construction PMI for November is due out in the European session.U.S. and Canadian trade data for October, U.S. and Canadian jobs data for November and U.S. factory orders for October are set for release in the New York session.Copyright RTT News/dpa-AFX
04.12.2020

Euro Little Changed After German Factory Orders

BRUSSELS (dpa-AFX) - At 2.00 am ET Friday, Destatis has released Germany's factory orders data. The euro changed little against its major rivals after the data.The euro was trading at 126.26 against the yen, 1.0823 against the franc, 1.2158 against the greenback and 0.9028 against the pound around 2:05 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Euro Advances Ahead Of German Factory Orders

BRUSSELS (dpa-AFX) - At 2.00 am ET Friday, Destatis is slated to issue Germany's factory orders data for October. Economists forecast orders to grow 1.5 percent on month, faster than the 0.5 percent increase in September.Ahead of the data, the euro strengthened against its major counterparts.The euro was worth 126.25 against the yen, 1.0823 against the franc, 1.2153 against the greenback and 0.9029 against the pound at 1:55 am ET.Copyright RTT News/dpa-AFX
04.12.2020

Indian Rupee Climbs To 2-day High Versus U.S. Dollar After RBI Decision

NEW DELHI (dpa-AFX) - The Indian rupee appreciated against the U.S. dollar in the morning session on Friday, as India's central bank left its key interest rates unchanged as widely expected due to higher inflation.The Monetary Policy Committee, led by Governor Shaktikanta Das, voted unanimously to hold the policy repo rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.The Marginal Standing Facility or MSF rate, and the Bank rate remained unchanged at 4.25 percent.Das said the bank will continue with accommodative policy stance as long as necessary, at least for the current financial year and into the next year.The bank projected real GDP to fall 7.5 percent in the financial year 2021-21. Das said inflation is likely to remain elevated. This constrains monetary policy at the current juncture. The rupee firmed to a 2-day high of 73.62 against the greenback from yesterday's closing value of 73.84. Next key resistance for the rupee is seen around the 72.00 region.Copyright RTT News/dpa-AFX

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