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23.10.2018

Avis: Ford Commercial Solutions To Connect Vehicles In U.S. Fleet

DEARBORN (dpa-AFX) - Avis Budget Group, Inc. (CAR) announced an agreement with Ford Commercial Solutions to connect more than 35,000 Ford Motor Company vehicles in the company's U.S. fleet. Ford Commercial Solutions is providing an embedded telematics solution called Ford Data Services, which offers a simplified and efficient way for Avis Budget Group to connect vehicles, reducing typical downtime and device management efforts currently required. More than 10,000 Ford vehicles in the Avis Budget Group fleet are expected to be connected by the end of 2018, and more than 35,000 by summer 2019.The connected Ford vehicles will provide telemetry data in real time, including odometer, fuel level and vehicle condition updates, allowing Avis Budget Group fleet managers to process information they need to more quickly prepare vehicles for customers. The connected vehicles will allow Avis customers to manage their rental experience through the Avis mobile app.Copyright RTT News/dpa-AFX
23.10.2018

Verizon Q3 Results Top Estimates

NEW YORK CITY (dpa-AFX) - Verizon Communications Inc. (VZ) reported a profit for the third-quarter 2018 that increased 36.0 percent from last year. Total operating revenues rose 2.8 percent from last year. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company reaffirmed its outlook for fiscal year 2018. It is on track to deliver against a goal to achieve $10 billion in cumulative cash savings by 2021.'Verizon has posted a third quarter of strong operational and financial performance. With the beginning of the 5G era in this fourth quarter, we expect that trend to continue,,,,' said CEO Hans Vestberg. In the Tuesday pre-market trade, VZ is trading at $55.30, up $0.34 or 0.62 percent.Looking ahead, Verizon still expects full-year consolidated revenue growth at low-to-mid single-digit percentage rates on a GAAP reported basis.The company expects the impact of revenue recognition on earnings per share for full-year 2018 to be between 27 and 31 cents. The accretive benefit to full-year 2018 consolidated operating income is expected to moderate in 2019 and become insignificant in 2020, as the timing impacts to revenues and commission costs converge.It still projects low single-digit percentage growth in adjusted earnings per share in 2018, before the net impact of tax reform and the revenue recognition standard.Capital spending for 2018 is expected to be in the range of $16.6 billion to $17.0 billion. Verizon said it is on track to deliver against a goal to achieve $10 billion in cumulative cash savings by 2021. This initiative includes zero-based budgeting, which has yielded approximately $1.3 billion of cumulative cash savings on a year-to-date basis, and the recently announced Voluntary Separation Program.Net income attributable to the company for the third-quarter increased 36.0 percent to $4.92 billion from last year's $3.62 billion, with earnings per share improving to $1.19, from $0.89 in the previous year. The company's reported earnings included a net impact of 3 cents per share from special items. Charges for early debt redemption and integration-related expenses --primarily pertaining to Oath-- were partially offset by a pension and benefit re-measurement credit.On an adjusted basis, third-quarter 2018 earnings per share was $1.22, compared with $0.98 in third-quarter 2017. The latest-quarter result included approximately 21 cents due to the net effects of tax reform and accounting changes for revenue recognition. Analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the third-quarter. Analysts' estimates typically exclude special items.Total consolidated operating revenues for the third-quarter 2018 were $32.61 billion, up 2.8 percent from $31.72 billion last year. Excluding the impact of the revenue recognition standard, consolidated operating revenues were up about 2.6 percent year over year. Wall Street analysts had a consensus revenue estimate of $32.51 billion for the quarter.In Verizon's media business, Oath revenues were $1.8 billion in third-quarter 2018, 6.9 percent below the same quarter last year. The company expects Oath revenues to be relatively flat in the near term and does not expect to meet the previous target of $10 billion in Oath revenues by 2020. In the telematics business, total Verizon Connect revenues, excluding the impact of the revenue recognition standard, were $241 million in third-quarter 2018. IoT or Internet of Thing revenues, including Verizon Connect, increased about 12 percent year over year, excluding the impact of the revenue recognition standard.In the Wireless segment, total revenues were $23.0 billion, an increase of 6.5 percent year over year. Excluding the impact of the revenue recognition standard, total revenues were $22.9 billion in third-quarter 2018, an increase of 6.1 percent compared with third-quarter 2017.Verizon reported 515,000 retail postpaid net additions in third-quarter 2018, consisting of net phone additions of 295,000, postpaid smartphone net additions of 510,000, tablet losses of 80,000 and 300,000 other connected devices additions, primarily wearables.Total retail postpaid churn was 1.04 percent in third-quarter 2018, compared with 0.97 percent year over year. Retail postpaid phone churn was 0.80 percent in third-quarter 2018. The company expects retail postpaid phone churn to increase seasonally during fourth-quarter 2018.In the Wireline segment, total wireline revenues were $7.4 billion. Excluding the impact of the revenue recognition standard, total wireline revenues decreased 3.7 percent year over year in third-quarter 2018.In third-quarter 2018, Verizon added a net of 54,000 Fios Internet connections, indicative of continued strong customer demand for high quality internet connectivity. Verizon lost 63,000 Fios Video connections in third-quarter 2018, impacted by ongoing shifts away from linear video offerings.Copyright RTT News/dpa-AFX
23.10.2018

Verizon Q3 Results Top Estimates

NEW YORK CITY (dpa-AFX) - Verizon Communications Inc. (VZ) reported a profit for the third-quarter 2018 that increased 36.0 percent from last year. Total operating revenues rose 2.8 percent from last year. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company reaffirmed its outlook for fiscal year 2018. It is on track to deliver against a goal to achieve $10 billion in cumulative cash savings by 2021.'Verizon has posted a third quarter of strong operational and financial performance. With the beginning of the 5G era in this fourth quarter, we expect that trend to continue,,,,' said CEO Hans Vestberg. In the Tuesday pre-market trade, VZ is trading at $55.30, up $0.34 or 0.62 percent.Looking ahead, Verizon still expects full-year consolidated revenue growth at low-to-mid single-digit percentage rates on a GAAP reported basis.The company expects the impact of revenue recognition on earnings per share for full-year 2018 to be between 27 and 31 cents. The accretive benefit to full-year 2018 consolidated operating income is expected to moderate in 2019 and become insignificant in 2020, as the timing impacts to revenues and commission costs converge.It still projects low single-digit percentage growth in adjusted earnings per share in 2018, before the net impact of tax reform and the revenue recognition standard.Capital spending for 2018 is expected to be in the range of $16.6 billion to $17.0 billion. Verizon said it is on track to deliver against a goal to achieve $10 billion in cumulative cash savings by 2021. This initiative includes zero-based budgeting, which has yielded approximately $1.3 billion of cumulative cash savings on a year-to-date basis, and the recently announced Voluntary Separation Program.Net income attributable to the company for the third-quarter increased 36.0 percent to $4.92 billion from last year's $3.62 billion, with earnings per share improving to $1.19, from $0.89 in the previous year. The company's reported earnings included a net impact of 3 cents per share from special items. Charges for early debt redemption and integration-related expenses --primarily pertaining to Oath-- were partially offset by a pension and benefit re-measurement credit.On an adjusted basis, third-quarter 2018 earnings per share was $1.22, compared with $0.98 in third-quarter 2017. The latest-quarter result included approximately 21 cents due to the net effects of tax reform and accounting changes for revenue recognition. Analysts polled by Thomson Reuters expected the company to report earnings of $1.19 per share for the third-quarter. Analysts' estimates typically exclude special items.Total consolidated operating revenues for the third-quarter 2018 were $32.61 billion, up 2.8 percent from $31.72 billion last year. Excluding the impact of the revenue recognition standard, consolidated operating revenues were up about 2.6 percent year over year. Wall Street analysts had a consensus revenue estimate of $32.51 billion for the quarter.In Verizon's media business, Oath revenues were $1.8 billion in third-quarter 2018, 6.9 percent below the same quarter last year. The company expects Oath revenues to be relatively flat in the near term and does not expect to meet the previous target of $10 billion in Oath revenues by 2020. In the telematics business, total Verizon Connect revenues, excluding the impact of the revenue recognition standard, were $241 million in third-quarter 2018. IoT or Internet of Thing revenues, including Verizon Connect, increased about 12 percent year over year, excluding the impact of the revenue recognition standard.In the Wireless segment, total revenues were $23.0 billion, an increase of 6.5 percent year over year. Excluding the impact of the revenue recognition standard, total revenues were $22.9 billion in third-quarter 2018, an increase of 6.1 percent compared with third-quarter 2017.Verizon reported 515,000 retail postpaid net additions in third-quarter 2018, consisting of net phone additions of 295,000, postpaid smartphone net additions of 510,000, tablet losses of 80,000 and 300,000 other connected devices additions, primarily wearables.Total retail postpaid churn was 1.04 percent in third-quarter 2018, compared with 0.97 percent year over year. Retail postpaid phone churn was 0.80 percent in third-quarter 2018. The company expects retail postpaid phone churn to increase seasonally during fourth-quarter 2018.In the Wireline segment, total wireline revenues were $7.4 billion. Excluding the impact of the revenue recognition standard, total wireline revenues decreased 3.7 percent year over year in third-quarter 2018.In third-quarter 2018, Verizon added a net of 54,000 Fios Internet connections, indicative of continued strong customer demand for high quality internet connectivity. Verizon lost 63,000 Fios Video connections in third-quarter 2018, impacted by ongoing shifts away from linear video offerings.Copyright RTT News/dpa-AFX
23.10.2018

Boston Scientific Says Court Rules Edwards Lifesciences' Valve Infringes Patent

BERLIN (dpa-AFX) - Boston Scientific Corp (BSX) said Tuesday that the District Court of Dusseldorf, Germany has determined that Edwards Lifesciences Corp.'s (EW) Sapien 3 Ultra device infringed a patent specific to the fabric used on the valve seal, specifically the German part of European Patent EP 2 949 292 B1. The patent was established by Symetis SA, a subsidiary of Boston Scientific.According to Boston Scientific, the Dusseldorf Court ruled in preliminary injunction proceedings that the company has the right to enjoin Edwards and its German subsidiary from offering and selling Sapien 3 Ultra in Germany. The infringement and injunction decision can be appealed by Edwards.In 2017, Edwards' currently-available Sapien 3 device was found to infringe two Boston Scientific patents by the same court. Boston Scientific noted that those rulings, which have been appealed by Edwards, enable Boston Scientific to enjoin Sapien 3 from the German market. The company has not yet exercised that option.'We are pleased with the steady cadence of European court rulings which uphold and validate our TAVR intellectual property against competitive encroachment. Defending our patents is a core necessity which allows us to continue to innovate and offer differentiated technologies to hospitals, physicians and their patients,' said Desiree Ralls-Morrison, senior vice president, general counsel and corporate secretary of Boston Scientific.Copyright RTT News/dpa-AFX
23.10.2018

McDonald`s Corp. Reports Fall In Q3 Earnings

OAK BROOK (dpa-AFX) - McDonald`s Corp. (MCD) revealed earnings for third quarter that dropped from last year.The company's profit came in at $1.64 billion, or $2.10 per share. This compares with $1.88 billion, or $2.32 per share, in last year's third quarter.Analysts had expected the company to earn $1.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter fell 6.6% to $5.37 billion from $5.75 billion last year.McDonald`s Corp. earnings at a glance:-Earnings (Q3): $1.64 Bln. vs. $1.88 Bln. last year.-EPS (Q3): $2.10 vs. $2.32 last year.-Analysts Estimate: $1.99 -Revenue (Q3): $5.37 Bln vs. $5.75 Bln last year.Copyright RTT News/dpa-AFX
23.10.2018

Paccar Inc. Bottom Line Advances In Q3

BELLEVUE (dpa-AFX) - Paccar Inc. (PCAR) announced earnings for its third quarter that increased from last year.The company's profit totaled $545.3 million, or $1.55 per share. This compares with $402.7 million, or $1.14 per share, in last year's third quarter.Analysts had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 14.6% to $5.42 billion from $4.73 billion last year.Paccar Inc. earnings at a glance:-Earnings (Q3): $545.3 Mln. vs. $402.7 Mln. last year.-EPS (Q3): $1.55 vs. $1.14 last year.-Analysts Estimate: $1.51 -Revenue (Q3): $5.42 Bln vs. $4.73 Bln last year.Copyright RTT News/dpa-AFX
23.10.2018

Corning Q3 Core EPS Rises 28% YoY; Core Sales Up 16%

WASHINGTON (dpa-AFX) - Corning Inc. (GLW) reported third-quarter core earnings per share of $0.51 compared to $0.40, last year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.49 for the quarter. Analysts' estimates typically exclude special items.Third-quarter core net sales were $3.05 billion compared to $2.64 billion, previous year. Analysts expected revenue of $3.01 billion for the quarter.The company now expects sales to exceed $11.3 billion for the full year, and 42% gross margin in the fourth quarter as strength continues in all businesses.Copyright RTT News/dpa-AFX
23.10.2018

Huntington Bancshares Slashes FY18 Revenue Growth Outlook

WASHINGTON (dpa-AFX) - Huntington Bancshares Inc. (HBAN) on Tuesday slashed its revenue growth outlook to a range of about 4.0 to 4.5 percent from the previous forecast range of about 5 to 6 percent.On average, analysts polled by Thomson Reuters expect the company to report a revenue growth of 5.5 percent to $4.54 billion for the year.Full-year noninterest expense is now expected to decrease about 2.0 to 2.5 percent, compared to the earlier guidance for a decline of 3 to 4 percent.However, the company continues to project average loans and leases to increase about 5.5 to 6.5 percent, on an annual basis. Average total deposits are also still expected to increase about 3.5 to 4.5 percent, while average core deposits are expected to increase 4.5 to 5.5 percent.Copyright RTT News/dpa-AFX
23.10.2018

Cat Financial Q3 Profit Up 45%

PEORIA (dpa-AFX) - Cat Financial, a unit of Caterpillar Inc. (CAT) reported a 45 percent surge in profit for the third quarter from last year on higher revenues. The company's third-quarter net income was $125 million, up 45 percent from $86 million in the year-ago period.Profit before income taxes for the quarter rose 29 percent to $163 million from $126 million in the prior-year quarter. The increase was primarily due to a $13 million favorable impact from returned or repossessed equipment, a $12 million favorable impact from higher average earning assets and an $11 million increase in net yield on average earning assets primarily due to changes in portfolio mix.Revenue for the quarter grew 9 percent to $735 million from $673 million last year. The increase in revenues was primarily due to a $33 million favorable impact from higher average financing rates, a $27 million favorable impact from higher average earning assets and a $13 million favorable impact from returned or repossessed equipment. These impacts were partially offset by a $14 million unfavorable impact from lower lending activity with Caterpillar.Copyright RTT News/dpa-AFX
23.10.2018

NextEra Energy Partners LP Q3 Profit Rises

WASHINGTON (dpa-AFX) - NextEra Energy Partners LP (NEP) released earnings for its third quarter that climbed from the same period last year.The company's bottom line came in at $33 million, or $0.58 per share. This compares with $1 million, or $0.01 per share, in last year's third quarter.Analysts had expected the company to earn $0.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter fell 6.8% to $178 million from $191 million last year.NextEra Energy Partners LP earnings at a glance:-Earnings (Q3): $33 Mln. vs. $1 Mln. last year.-EPS (Q3): $0.58 vs. $0.01 last year.-Analysts Estimate: $0.42 -Revenue (Q3): $178 Mln vs. $191 Mln last year.Copyright RTT News/dpa-AFX
23.10.2018

European Stocks Reel Under Selling Pressure

PRAG (dpa-AFX) - European markets are mostly trading notably lower on Tuesday, amid persisting worries about trade war concerns, geopolitical tensions, Italian budgetary woes and uncertainty about a smooth Brexit. Some disappointing earnings reports too are weighing on sentiment in the region.With the mood quite bearish stocks have plunged to multi-month lows, with many falling to their lowest levels in about two years. Among major European markets, France is down with its benchmark CAC 40 losing about 1.5 percent, Germany's DAX drifting down by about 2.2 percent and the U.K.'s FTSE 100 declining by 1.1 percent.Among other markets in Europe, Turkey is down by about 1.5 percent. Turkey's main index BIST had lost about 1.84 percent in the previous session. Italy's FTSE MIB index is down nearly 1%. The index had moved higher on Monday as Italian stocks rallied after Moody's Investors Service removed the immediate threat of a downgrade to junk. Sweden, Spain, Portugal, Poland, Norway, Italy, Greece and Czech Republic are trading lower by 0.6 to 2 percent. Most of the other markets in the region are down as well.In economic news, British factory orders dropped at the fastest pace in three years in the quarter to October as manufacturers remained worried about the possibility of a disorderly Brexit, a survey by the Confederation of British Industry showed on Tuesday.Turkey's consumer confidence deteriorated for a third straight month to its lowest level in nearly a decade during October as inflation rocketed to a 15-year high in the previous month.The consumer confidence index dropped to 57.3 from 59.3 in September, data from the Turkish Statistical Institute showed on Tuesday. The reading was the lowest since December 2008, when it was 56.7.Households' financial expectations and their view on unemployment situation in the next 12 months weakened sharply.Expectations regarding the economy also eroded. However, consumers plan to save more in the next 12 months.Headline inflation shot up to 24.52 percent in September, which was the highest in 15 years.The Turkish central bank is set to hold its policy session this week. Economists widely expect the bank to leave interest rates unchanged at 24 percent.Germany's producer prices rose the fastest pace in a year in September, figures from Destatis showed Tuesday.Producer prices grew 3.2 percent year-on-year in September, after rising 3.1 percent in the previous month. Economists were looking for a 3.0 percent gain. The inflation rate was the highest since September 2017, when prices advanced 3.2 percent.On a month-on-month basis, producer prices climbed 0.5 percent after a 0.3 percent increase in August. The rate was forecast to remain unchanged at 0.3 percent.Excluding energy, producer prices remained unchanged on month, while rising 1.6 percent annually. Energy prices rose 8.5 percent year-on-year.Geopolitical worries following the disappearance and the subsequent alleged killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month, are increasing by the day. The Turkish President Recep Tayyip Erdogan said that the killing of the journalist was a planned operation carried out by a Saudi team that entered the consulate on the day of the murder. According to Sky News, the body parts of the slain journalist have been found in the garden of the Saudi Arabian consul general's home in Istanbul.Copyright RTT News/dpa-AFX
23.10.2018

Wall Street Sees Red

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Geopolitical tensions are reflected on investors' decisions. Early signs from the U.S. Futures Index point to a lower opening for Wall Street. Asian shares finished sharply down, while European shares are trading on a negative bias. Earnings reports and a slew of Fed speeches are the major highlights on economic front. As of 8.00 am ET, the Dow futures were down 374.00 points, the S&P 500 futures were declining 39 points and the Nasdaq 100 futures were losing 122.00 points. U.S. stocks closed broadly lower on Monday. The Nasdaq rose 19.60 points or 0.3 percent to 7,468.63, the Dow slid 126.93 points or 0.5 percent to 25,317.41 and the S&P 500 fell 11.90 points or 0.4 percent to 2,755.88.On the economic front, Redbook data for the week will be issued at 8.55 am ET. The prior week's store sales were up 5.8 percent. Minneapolis Federal Reserve Bank President Neel Kashkari to give welcoming remarks at the Innovation in Early Childhood Development and K-12 Education Conference in Minneapolis, MN.Federal Reserve Bank of Richmond's Manufacturing Index for October will be published at 10.00 am ET. The consensus is for 24, down from 29 in the prior month. Two year treasury Note auction will be held at 1.00 pm ET. Atlanta Federal Reserve Bank President Raphael Bostic will give speech on 'Economic Outlook and Monetary Policy' to the Committee of 100 at Louisiana State University in Baton Rouge, LA, followed by audience Q&A at 1.30 pm ET. Dallas Federal Reserve Bank President Robert Kaplan will participate in moderated Q&A session at Texas A&M University at the Galveston Economic Development Partnership 7th Annual Economic Development Summit in Galveston, Texas, followed by audience Q&A at 2.15 pm ET. Kansas City Federal Reserve Bank President Esther George will participate in a panel on 'Disruption in the Payments Landscape' at the SIBOS 2018 International Conference in Sydney, Australia, followed by audience Q&A at 8.00 pm ET. In the corporate segment, McDonald's Corp. revealed earnings for the third quarter that dropped from last year. The profit came in at $1.64 billion, or $2.10 per share compared with $1.88 billion, or $2.32 per share last year. Revenue for the quarter fell 6.6 percent to $5.37 billion from $5.75 billion a year ago. Asian stocks plunged sharply on Tuesday. The Chinese market too ended sharply lower. Shanghai's SSEC tumbled by about 2.26% and Hong Kong's Hang Seng declined by about 3.2 percent. The Japanese benchmark Nikkei 225 ended lower by about 610 points, or 2.7%, at 22,005.00.In the Australian market, energy, materials, healthcare, financial and utilities stocks tumbled. The benchmark S&P/ASX 200 index ended down 61.80 points, or 1.05%, at 5,843.10. The broader All Ordinaries index closed down by 61.30 points, or 1.02%, at 5,944.90.European shares are trading in a negative territory. France's CAC 40 is declining 55.59 points or 1.10 percent. Germany's DAX is falling 199.78 points or 1.73 percent. FTSE 100 of U.K. is slipping 64.06 points or 0.90 percent. Swiss Market Index is down 82.82 points or 0.93 percent. Eurozone's leading Blue Chip index,Euro Stoxx 50, is declining 0.97 percent.Copyright RTT News/dpa-AFX
23.10.2018

FTSE Slips On Brexit Concerns, Geopolitical Worries

LONDON (dpa-AFX) - The U.K. stock market is down in negative territory, with the pound sterling rebounding after recent setback and markets across the globe wilting under pressure due to geopolitical worries and trade related tensions.Italy's budgetary woes and the diplomatic isolation of Saudi Arabia following the alleged killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month are taking a toll on markets across the globe.Uncertainty about a smooth Brexit weighed as well. The British pound was trading at $1.2997, compared with yesterday's rate of $1.2966 in late deals in New York. The U.K.'s FTSE 100 index is down 59.50 points, or 0.84 percent, at 6,983.30.Among the prominent losers, Provident Financial is down 5.5 percent, Mondi, St. Jame's Place, Babcock International, Hammerson, Glencore, Burberry Group and Antofagasta are lower by 3.5 to 4.5 percent.Anglo American, Paddy Power, Vodafone Group, DCC, Ashtead Group, Mediclinic, Admiral Group, Merlin Entertainment, HSBC and British Land Company are also sharply lower. Travis Perkins is gaining more than 3.5 percent. National Grid, British American Tobacco, Imperial Brands, Fresnillo and Randgold Resources are also up with impressive gains.Copyright RTT News/dpa-AFX
23.10.2018

CAC Drifts Lower

PARIS (dpa-AFX) - The French stock market is down in negative territory on Tuesday, with a sell-off in global stock markets amid mounting worries about geopolitical tensions and trade war concerns prompting investors to press sales across various sectors. Technology, oil and financial stocks are among the prominent losers. Industrial and healthcare stocks are also mostly lower.The benchmark CAC 40 is down 73.51 points, or 1.45 percent, at 4,979.80.Shares of technology company Atos SE are down more than 23 percent after it lowered its 2018 revenue growth forecast. The company adjusted its 2019 targets to include the effects of its acquisition of U.S. company Syntel Inc.Atos said it expects 2018 revenue growth to be around 1 percent, as against an earlier projection of 2 to 3 percent growth. The company said the cut in its outlook was due to a deterioration in its infrastructure and data management business in North America and Germany, as well as a challenging international economic environment.ST Microelectronics, Dassault Systemes, Arcelor Mittal, Capgemini, Technip FMC, Pernod Ricard, Kering, Valeo, Renault and Peugeot are down 2 to 5 percent. Most European markets, including the markets in the U.K. and Germany are down with notable losses.Copyright RTT News/dpa-AFX
23.10.2018

DAX Plunges Sharply On Weak Global Cues, Inflation Data

BERLIN (dpa-AFX) - The German stock market is sharply lower on Tuesday with weak global cues, disappointing results and higher inflation triggering a sell-off across the board.Geopolitical tensions following the killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month and the ongoing spat between the U.S. and Saudi Arabia with this regard are taking a toll of markets across Europe. Asian markets tumbled earlier in the day.The benchmark DAX, which opened with a negative gap of nearly 160 points, is down as much as 280 points, or 2.43 percent, at 11,244.34, slightly off the day's low of 11,227.38. Technology, pharmaceuticals, transport, retail, resources, bank and automobile stocks are all trading weak. Shares from industrial, food, construction and chemicals sections are also mostly down with sharp losses.Bayer, which is among the most prominent losers, is down more than 8 percent. Wirecard AG, Infineon, Covestro, SAP, Deutsche Post, Thyssenkrupp, Vonovia, Merck, Lufthansa, Volkswagen and BASF are down 2 to 6 percent.Germany's producer prices rose the fastest pace in a year in September, figures from Destatis showed Tuesday.Producer prices grew 3.2 percent year-on-year in September, after rising 3.1 percent in the previous month. Economists were looking for a 3.0 percent gain. The inflation rate was the highest since September 2017, when prices advanced 3.2 percent.On a month-on-month basis, producer prices climbed 0.5 percent after a 0.3 percent increase in August. The rate was forecast to remain unchanged at 0.3 percent.Excluding energy, producer prices remained unchanged on month, while rising 1.6 percent annually. Energy prices rose 8.5 percent year-on-year.Copyright RTT News/dpa-AFX
23.10.2018

Asian Markets Tumble On Economic Woes, Geopolitical Worries

CANBERA (dpa-AFX) - Asian stocks plunged sharply on Tuesday as geopolitical tensions and uncertainty about near term outlook for the global economy forced investors to indulge in heavy selling in stocks from across various sectors. Worries about Italy's budgetary woes and Brexit too weighed on the market even as investors geared up to upcoming corporate earnings results.In the Australian market, energy, materials, healthcare, financial and utilities stocks tumbled. The benchmark S&P/ASX 200 index ended down 61.80 points, or 1.05%, at 5,843.10. The broader All Ordinaries index closed down by 61.30 points, or 1.02%, at 5,944.90.Resolute Mining plunged more than 11%. Seven West Media ended lower by about 6.7%. Washington H. Soul Pattinson & Co., Australian Pharmaceutical Industry and Origin Energy lost 4.4 to 5.4 percent.Healthscope moved up by about 19.3%, Bellamy's Australia gained 4.7%, Aveo Group advanced by 4.1%, Flight Centre Travel Group added 4% and Corporate Travel Management climbed up by about 3%.Key bank stocks drifted lower. Commonwealth Bank announced that it will make a post tax profit of A$140 million through the sale of its 80% stake in an Indonesian life insurance business for A$426 million.The Japanese benchmark Nikkei 225 ended lower by about 610 points, or 2.7%, at 22,005.00.Metal, construction, glass & ceramics, paper, shipbuilding, chemicals, machinery, mining, insurance and pharmaceuticals stocks declined sharply, while a few stocks from banking and automobile sections found some support. The Chinese market too ended sharply lower. Shanghai's SSEC tumbled by about 2.26% and Hong Kong's Hang Seng declined by about 3.2%.The KOSPI index of the South Korean Market declined by more than 2.5%. The benchmark indices of Malaysia, New Zealand and Taiwan ended lower by 1.5 to 2%. Indonesian market ended weak as well and the Indian market is currently trading notably lower. The Singapore market bucked the trend and ended modestly higher.Copyright RTT News/dpa-AFX
23.10.2018

European Stocks Headed For Weak Opening

PARIS (dpa-AFX) - European markets are likely to open lower and stay sluggish for most part of the session on Tuesday, with traders looking for direction.The mood is likely to be a bit bearish early on, due to concerns over the diplomatic tensions in Saudi Arabia following the alleged killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month. The Italian budget is another major concern and investors will also be closely following the developments on Brexit. On Monday, European markets pared early gains and turned lower with investors treading cautiously, as they looked ahead to Thursday's policy statement from the European Central Bank. A weak start in the U.S. market too weighed on sentiment.The DAX of Germany dropped 0.26 percent and the CAC 40 of France fell 0.62 percent. The FTSE 100 of the U.K. declined 0.10 percent and the SMI of Switzerland finished lower by 0.07 percent.The early upmove on Monday was triggered by the rally in the Chinese market earlier in the day and on easing concerns over Italy after Moody's Investors Service cut Italy's credit rank by one step to Baa3, but set the outlook for the assessment at 'stable', removing the immediate threat of a downgrade to junk.In economic news, producer prices in Germany increased by 0.5 percent in September, over previous month. Economists forecast prices to rise at a steady pace of 0.3 percent. Compared to the same month last year, producer prices were up 0.7 percent. At 3 am ET., Turkey's consumer confidence survey data is due.At 6.00 am ET, the Confederation of British Industry is scheduled to issue Industrial Trends survey data. The order book balance is seen at 2 in October versus -1 in September.At 10.00 am ET, European Commission releases euro area consumer sentiment survey results. The confidence index is seen at -3.2 in October versus -2.9 in September.Copyright RTT News/dpa-AFX
23.10.2018

Asian Markets In Negative Territory

CANBERA (dpa-AFX) - Asian stock markets are in negative territory on Tuesday following the lackluster cues overnight from Wall Street amid rising geopolitical tensions around the world and on worries about Italy's budgetary woes as well as Brexit. Investors are also cautious as they focus on several major upcoming corporate earnings results due this week.The Australian market is extending losses from the previous session, with stocks lower across the board.In late-morning trades, the benchmark S&P/ASX 200 Index is losing 47.90 points or 0.81 percent to 5,857.00, off a low of 5,853.90 earlier. The broader All Ordinaries Index is down 44.00 points or 0.73 percent to 5,962.20. Australian markets fell notably on Monday.The big four banks are notably lower. ANZ Banking, Commonwealth Bank, Westpac and National Australia Bank are down in a range of 1.1 percent to 1.4 percent.Commonwealth Bank, which is selling its 80 percent stake in an Indonesian life insurance business for A$426 million, said it will make a post-tax profit of about A$140 million on the sale. The bank's shares are declining 0.3 percent.The major miners are also weak despite higher iron ore and copper prices. Fortescue Metals is losing almost 2 percent, BHP is declining almost 1 percent and Rio Tinto is down 0.3 percent.Among oil stocks, Woodside Petroleum is declining more than 2 percent and Santos is lower by more than 1 percent, even as crude oil prices edged higher overnight.Shares of Oil Search are down more than 3 percent despite the company reporting that its revenue for the September quarter nearly doubled from the preceding quarter on higher oil prices and an uptick in production that helped offset the impact of an earthquake in Papua New Guinea earlier this year. Gold miners are mixed after gold prices declined overnight. Evolution Mining is lower by more than 1 percent, while Newcrest Mining is adding 0.2 percent.Private equity firm BGH Capital and AustralianSuper have renewed their takeover attempt for Healthscope with a A$4.1 billion bid, five months after the private hospitals operator rejected their offer. Shares of Healthscope, which said it will assess the proposal, are gaining more than 20 percent.In the currency market, the Australian dollar is lower against the U.S. dollar on Tuesday. The local currency was quoted at $0.7078, down from $0.7109 on Monday.The Japanese market is notably lower, tracking the mixed cues from Wall Street and a stronger safe-haven yen amid rising geopolitical tensions. Investors are also cautious as they focus on several upcoming corporate earnings results due this week.The benchmark Nikkei 225 Index is losing 396.09 points or 1.75 percent to 22,218.73, after falling to a low of 22,202.89 earlier. Japanese shares eked out modest gains on Monday.Among the major exporters, Canon is declining more than 2 percent, Mitsubishi Electric is losing more than 1 percent, Panasonic is lower by almost 1 percent and Sony is down 0.5 percent. Among auto makers, Honda is lower by more than 1 percent, while Toyota is rising almost 1 percent. In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are declining more than 1 percent each.In the oil space, Japan Petroleum is down almost 2 percent and Inpex is losing almost 3 percent after crude oil prices edged higher overnight.In the tech sector, Advantest is lower by almost 2 percent and Tokyo Electron is declining more than 2 percent.Among the worst performers, Toto is falling more than 6 percent, while Kawasaki Kisen Kaisha, Daiwa House Industry and Toyo Seikan Group are losing more than 5 percent each. Screen Holdings is lower by almost 5 percent.In economic news, Japan will release September figures for supermarket sales as well as department store sales, and final September numbers for machine tool orders today.In the currency market, the U.S. dollar is trading in the upper 112 yen-range on Tuesday.Elsewhere in Asia, South Korea is losing almost 2 percent, while New Zealand, Hong Kong and Taiwan are all down more than 1 percent each. Shanghai and Singapore are both lower by almost 1 percent each. Indonesia and Malaysia are modestly lower. The markets in Thailand are closed on Tuesday for Chulalongkorn.On Wall Street, stocks closed mixed on Monday for a second straight session as traders expressed some uncertainty about the near-term outlook for the markets following recent volatility. A lack of major U.S. economic data also kept some traders on the sidelines ahead of the release of reports on new home sales, durable goods orders, and consumer sentiment in the coming days.While the Nasdaq rose 19.60 points or 0.3 percent to 7,468.63, the Dow slid 126.93 points or 0.5 percent to 25,317.41 and the S&P 500 fell 11.90 points or 0.4 percent to 2,755.88.The major European markets moved to the downside on Monday. The U.K.'s FTSE 100 Index edged down by 0.1 percent, the German DAX Index fell by 0.3 percent and the French CAC 40 Index slid by 0.6 percent.Crude oil prices edged higher on Monday as investor focus returned to impending U.S sanctions against Iran. WTI crude for November added $0.05 or 0.07 percent to close at $69.17 a barrel on expiration day.Copyright RTT News/dpa-AFX
23.10.2018

Japanese Market Notably Lower

TOKYO (dpa-AFX) - The Japanese stock market is notably lower on Tuesday, tracking the mixed cues overnight from Wall Street and a stronger yen amid worries about global economic growth and rising geopolitical tensions. Investors are also cautious as they focus on several upcoming corporate earnings results due this week.The benchmark Nikkei 225 Index is losing 396.09 points or 1.75 percent to 22,218.73, after falling to a low of 22,202.89 earlier. Japanese shares eked out modest gains on Monday.Among the major exporters, Canon is declining more than 2 percent, Mitsubishi Electric is losing more than 1 percent, Panasonic is lower by almost 1 percent and Sony is down 0.5 percent. Among auto makers, Honda is lower by more than 1 percent, while Toyota is rising almost 1 percent. In the banking sector, Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are declining more than 1 percent each.In the oil space, Japan Petroleum is down almost 2 percent and Inpex is losing almost 3 percent after crude oil prices edged higher overnight.In the tech sector, Advantest is lower by almost 2 percent and Tokyo Electron is declining more than 2 percent.Among the worst performers, Toto is falling more than 6 percent, while Kawasaki Kisen Kaisha, Daiwa House Industry and Toyo Seikan Group are losing more than 5 percent each. Screen Holdings is lower by almost 5 percent.In economic news, Japan will release September figures for supermarket sales as well as department store sales, and final September numbers for machine tool orders today.In the currency market, the U.S. dollar is trading in the upper 112 yen-range on Tuesday.On Wall Street, stocks closed mixed on Monday for a second straight session as traders expressed some uncertainty about the near-term outlook for the markets following recent volatility. A lack of major U.S. economic data also kept some traders on the sidelines ahead of the release of reports on new home sales, durable goods orders, and consumer sentiment in the coming days.While the Nasdaq rose 19.60 points or 0.3 percent to 7,468.63, the Dow slid 126.93 points or 0.5 percent to 25,317.41 and the S&P 500 fell 11.90 points or 0.4 percent to 2,755.88.The major European markets moved to the downside on Monday. The U.K.'s FTSE 100 Index edged down by 0.1 percent, the German DAX Index fell by 0.3 percent and the French CAC 40 Index slid by 0.6 percent.Crude oil prices edged higher on Monday as investor focus returned to impending U.S sanctions against Iran. WTI crude for November added $0.05 or 0.07 percent to close at $69.17 a barrel on expiration day.Copyright RTT News/dpa-AFX
23.10.2018

China Stock Market Due For Consolidation

BEIJING (dpa-AFX) - The China stock market has moved higher in two straight sessions, skyrocketing almost 170 points or 7 percent along the way. The Shanghai Composite Index now rests just above the 2,650-point plateau although investors may lock in gains on Tuesday.The global forecast for the Asian markets is soft thanks to ongoing geopolitical concerns. The European markets were down and the U.S. bourses were mixed but little changed and the Asian markets figure to split the difference.The SCI finished sharply higher on Monday with gains across the board - particularly among the financials, properties and oil and insurance companies.For the day, the index soared 104.41 points or 4.09 percent to finish at 2,654.88 after trading between 2,565.64 and 2,675.41. The Shenzhen Composite Index surged 61.92 points or 4.90 percent to end at 1,325.73.Among the actives, China Construction Bank jumped 3.01 percent, while Bank of China collected 2.49 percent, Industrial and Commercial Bank of China added 2.74 percent, China Merchants Bank gained 2.70 percent, China Life Insurance soared 7.12 percent, China Petroleum and chemical (Sinopec) advanced 2.38 percent, PetroChina gathered 2.11 percent, China Shenhua Energy gathered 3.06 percent, Gemdale climbed 3.59 percent, Poly Developments spiked 4.48 percent, China Vanke soared 5.84 percent and CITIC Securities surged 10.01 percent.The lead from Wall Street offers little clarity as stocks failed to hold an early upward move Monday, eventually closing on opposite sides of the unchanged line.The Dow shed 126.93 points or 0.50 percent to 25,317.41, while the NASDAQ added 19.60 points or 0.26 percent to 7,468.26 and the S&P 500 fell 11.90 points or 0.43 percent to 2,755.88.The choppy trading on Wall Street came as traders expressed uncertainty about the near-term outlook for the markets following recent volatility. Stocks initially benefited from a continued rally in China.Buying interest waned shortly after the start of trading, however, as traders remain concerned about global economic growth and recent geopolitical tensions.Crude oil futures were little changed on Monday, with traders appearing uncertain about the impact of U.S. Iranian sanctions on global crude supply. Traders also followed the ongoing U.S.-Saudi Arabia spat regarding the death of journalist Jamal Khashoggi. Crude oil futures for December ended up $0.08 or 0.1 percent at $69.36 a barrel.Copyright RTT News/dpa-AFX
23.10.2018
23.10.2018
23.10.2018

UK Factory Orders Fall At Fastest Pace In Three Years: CBI

LONDON (dpa-AFX) - British factory orders dropped at the fastest pace in three years in the quarter to October as manufacturers remained worried about the possibility of a disorderly Brexit, a survey by the Confederation of British Industry showed on Tuesday.The survey among 354 manufacturers showed that a net 6 percent reported a fall in new orders in the quarter to October, which was the weakest balance since October 2015. In July, the balance was +15.Both domestic and exports orders decreased. The export order balance tumbled to -8 from +21 and the domestic order balance fell to -10 from +8. Business optimism also eroded sharply with the corresponding balance falling to -16, the sharpest fall since July 2016. Optimism regarding exports dropped at the fastest pace since 2012, down to -15 from -2 in July. Manufacturers also scaled down their hiring and the balance fell to +7 from +17. Looking ahead, a net 3 percent of factories expect output growth to stall in the coming three months, which was the weakest expectation since December 2015. Domestic orders are expected to drop, while export orders are forecast to grow slightly. Employment is expected to decline modestly in the coming quarter, with the balance at -6, the weakest expectation in two years. 'These figures are concerning and must not be taken lightly,' CBI Manufacturing Council Chair Tom Crotty said.'Ongoing uncertainty around Brexit has made for a particularly tough quarter for the UK's manufacturers...not surprising that many firms have recently moved publicly from contingency planning to action as the likelihood of a 'no deal' Brexit increases.''This is a sobering set of figures demanding immediate action at home and abroad,' CBI Chief Economist Rain Newton-Smith said. 'Planned investment is being scaled back in the face of deepening Brexit uncertainty, so it's vital that the Chancellor incentivises manufacturers to spend in areas that will help them become more productive.'Copyright RTT News/dpa-AFX
23.10.2018
23.10.2018

Iceland Wages Rise In September

JAKARTA (dpa-AFX) - Iceland's wage index rose in September after declining in the previous month, figures from Statistics Iceland showed on Tuesday.The wage index climbed 0.6 percent from August, when it fell 0.1 percent. On a year-on-year basis, the wage index rose 5.9 percent in September after increasing 6 percent in the previous month. The wage index is a price index based on data from the Icelandic survey on wages earnings and labor cost and reflects changes in wages paid for fixed working hours.The consumer price inflation adjusted real wages were 0.4 percent higher than in the previous month and rose 3 percent from a year ago.Copyright RTT News/dpa-AFX
23.10.2018

Euro Little Changed After Eurozone Economic Sentiment Index

BRUSSELS (dpa-AFX) - Following the release of Eurozone economic sentiment index for October at 10.00 am ET Tuesday, the euro changed little against its major rivals.The euro was worth 128.44 against the yen, 1.1406 against the franc, 0.8823 against the pound and 1.1462 against the greenback around 10:03 am ET.Copyright RTT News/dpa-AFX
23.10.2018

U.S. Dollar Lower On Geopolitical Tensions

BRUSSELS (dpa-AFX) - The U.S. dollar drifted lower against its key counterparts in the European session on Tuesday, tracking a decline in treasury yields, as disappointing earnings results as well as geopolitical tensions surrounding the death of Saudi journalist triggered a sell-off in global shares.The benchmark yield on 10-year note fell 3.15 percent, while that of 2-year equivalent was down by 2.88 percent. Yields move inversely to bond prices.Traders were concerned about growing isolation of Riyadh after the death of journalist Jamal Khashoggi at the Saudi consulate in Istanbul earlier this month.U.S. President Donald Trump expressed dissatisfaction over the response of Saudi to the killing of journalist and called to speed up their investigation.Treasury Secretary Steven Mnuchin canceled his meeting at Saudi investment conference on Monday, although he met Saudi Arabia's crown prince Mohammed bin Salman and stressed the importance of Saudi-US strategic partnership.The budget row between Italy and the EU as well as Brexit worries also weighed on sentiment.Fed members Neel Kashkari, Raphael Bostic and Robert Kaplan are set to speak at separate events later in the day.The currency traded mixed against its major opponents in the Asian session. While it rose against the euro and the pound, it held steady against the franc. Against the yen, it fell.The greenback dropped to 1.3044 against the pound, from near a 3-week high of 1.2937 hit at 2:00 am ET. The next possible support for the greenback is seen around the 1.32 level. After rising to a 4-day high of 1.1440 against the euro at 2:00 am ET, the greenback reversed direction and dropped to 1.1486. If the greenback falls further, it may find support around the 1.16 level.Figures from Destatis showed that Germany's producer prices rose the fastest pace in a year in September.Producer prices grew 3.2 percent year-on-year in September, after rising 3.1 percent in the previous month. Economists were looking for a 3.0 percent gain.The greenback dropped to a 5-day low of 112.10 against the yen, from a high of 112.84 hit at 6:30 pm ET. On the downside, 110.00 is possibly seen as the next support level for the greenback.The greenback reversed from an early high of 0.9971 against the franc, sliding to 0.9941. The greenback is poised to challenge support around the 0.97 mark.Looking ahead, at 10:00 am ET, Eurozone consumer sentiment for October is due.At the same time, Richmond Fed manufacturing index for October is set for release.At 11:20 am ET, the Bank of England Governor Mark Carney speaks about artificial intelligence and the world economy at the Annual Machine Learning and the Market for Intelligence Conference in Toronto.Federal Reserve Bank of Atlanta President Raphael Bostic speaks about the economy and monetary policy at Louisiana State University in Baton Rouge at 1:30 pm ET.Copyright RTT News/dpa-AFX
23.10.2018

Turkish Lira At 8-day Low Versus U.S. Dollar On Turkey Political Worries

ANKARA (dpa-AFX) - The Turkish Lira lost ground against the U.S. dollar in the European session on Tuesday, after the Nationalist Movement Party announced its split with the ruling Justice and Development Party for the next elections.Speaking in Parliament, MHP Chairman Devlet Bahçeli said that he would pull out from the alliance with Erdogan amid bitter divisions over MHP's amnesty proposal.'We will now chart our own path. We do not plan to ally,' Bahceli said lawmakers.The Lira depreciated 3.7 percent to an 8-day low of 5.87 versus the greenback from Monday's closing value of 5.66. The next possible support for the Lira is seen around the 6.0 region.Copyright RTT News/dpa-AFX
23.10.2018

Yen Advances Amid Risk Aversion

CANBERA (dpa-AFX) - The Japanese yen traded higher against its major counterparts in the European session on Tuesday amid risk aversion, as worries over Italy's budget, Brexit talks and Saudi tensions kept investors' nervous.Market participants are concerned about the diplomatic tensions in Saudi Arabia following the alleged killing of journalist Jamal Khashoggi at a consulate in Turkey earlier this month. The Italian budget is another major concern and investors will also be closely following the developments on Brexit. Investors are also cautious as they focus on several upcoming corporate earnings results due this week.The currency has been trading higher against its major rivals in the Asian session.The yen advanced to near a 2-week high of 79.32 against the aussie, from a low of 79.91 hit at 5:30 pm ET. The yen is seen finding resistance around the 78.00 level.The yen strengthened to 4-day highs of 73.49 against the kiwi, 112.31 against the greenback and 128.60 against the euro, off its early lows of 73.99, 112.84 and 129.38, respectively. The next possible resistance for the yen is seen around 72.00 against the kiwi, 110.00 against the greenback and 127.00 against the euro.The yen reversed from an early low of 113.30 against the Swiss franc, rising to 112.75. If the yen rises further, it may find resistance around the 111.00 level.On the flip side, the yen retreated to 146.16 against the pound, from near a 6-week low of 145.47 hit at 2:15 am ET. On the downside, 148.00 is possibly seen as the next support level for the yen.Looking ahead, at 10:00 am ET, Eurozone consumer sentiment for October is due.At the same time, Richmond Fed manufacturing index for October is set for release.At 11:20 am ET, the Bank of England Governor Mark Carney speaks about artificial intelligence and the world economy at the Annual Machine Learning and the Market for Intelligence Conference in Toronto.Federal Reserve Bank of Atlanta President Raphael Bostic speaks about the economy and monetary policy at Louisiana State University in Baton Rouge at 1:30 pm ET.Copyright RTT News/dpa-AFX
23.10.2018

Euro Falls After German PPI

BRUSSELS (dpa-AFX) - Following the release of German producer prices for September at 2:00 am ET Tuesday, the euro dropped against its major rivals.The euro was trading at 128.75 against the yen, 0.8840 against the pound, 1.1410 against the franc and 1.1448 against the greenback around 2:05 am ET.Copyright RTT News/dpa-AFX
23.10.2018

Euro Steady Ahead Of German PPI

BRUSSELS (dpa-AFX) - At 2:00 am ET Tuesday, Destatis releases German producer prices for September. Ahead of the data, the euro held steady against its major rivals.The euro was worth 128.88 against the yen, 0.8839 against the pound, 1.1415 against the franc and 1.1458 against the greenback as of 1:55 am ET.Copyright RTT News/dpa-AFX
22.10.2018

Dollar Holding Gains On Light Data Day

WASHINGTON (dpa-AFX) - The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S. economic data is keeping some investors on the sidelines. Things will remain quiet on the economic front Tuesday, but will begin to pick up on Wednesday with the release of new home sales data and the Beige Book.Concerns over Italy eased after Moody's Investors Service cut the country's credit rank by one step to Baa3, but set the outlook for the assessment at 'stable', removing the immediate threat of a downgrade to junk.The dollar dropped to an early low of $1.1549 against the Euro Monday, but has since bounced back to around $1.1465.The buck slide to a low of $1.3089 against the pound sterling Monday, but has since rebounded to around $1.2975.The greenback rose to a high of Y112.885 against the Japanese Yen Monday, but has since eased back to around Y112.785.Japan's all industry activity rebounded in August, figures from the Ministry of Economy, Trade and Industry showed Monday. The all industry activity index climbed 0.5 percent month-on-month in August, reversing a 0.2 percent drop in July and a 0.9 percent decrease in June. Economists had forecast a monthly growth of 0.4 percent.Copyright RTT News/dpa-AFX
22.10.2018

Loonie Little Changed After Canada Wholesale Sales

CANBERA (dpa-AFX) - Following the release of Canada wholesale sales for August at 8:30 am ET Monday, the loonie changed little against its major rivals.The loonie was trading at 1.3102 against the greenback, 86.08 against the yen, 1.5053 against the euro and 0.9305 against the aussie around 8:33 am ET.Copyright RTT News/dpa-AFX
22.10.2018

Loonie Mixed Ahead Of Canada Wholesale Sales

CANBERA (dpa-AFX) - At 8:30 am ET Monday, Canada wholesale sales for August are due.Ahead of the data, the loonie traded mixed against its major rivals. While the loonie rose against the euro, it held steady against the greenback, the yen and the aussie.The loonie was worth 1.3099 against the greenback, 86.09 against the yen, 1.5051 against the euro and 0.902 against the aussie as of 8:25 am ET.Copyright RTT News/dpa-AFX
22.10.2018

Pound Drops On Brexit Concerns

BRUSSELS (dpa-AFX) - The pound fell against its major counterparts in the European session on Monday, after a media report showed that the U.K. Prime Minister Theresa May is facing calls for a no-confidence motion amid discontent among MPs about her handling of Brexit talks following an unsuccessful EU summit last week.Support among Tory MPs for PM's leadership has diminished further, with Brexit supporter Andrea Jenkyns calling for a vote of confidence in the PM.Jenkyns suggested that May must attend Wednesday's meeting of the Tory 1922 committee of backbenchers or else she risks making letters demanding no confidence vote go faster.May will address the Parliament afternoon, when she will acknowledge that 95 percent of Brexit deal has been settled, but EU's proposal on Irish backstop remain unresolved.Survey by the Confederation of British Industry showed that a majority of British firms said Brexit had a negative effect on investment decision.Eight out of ten firms said Brexit hit investment as speed of talks outpaced by reality firms face on ground. The majority of firms said they will implement damaging contingency plans in the absence of greater certainty on Brexit by December.The currency showed mixed trading against its major counterparts in the Asian session. While it rose against the yen and the greenback, it held steady against the franc and the euro.The pound fell to more than a 2-week low of 0.8835 against the euro, off its early high of 0.8804. On the downside, 0.90 is possibly seen as the next support level for the pound.The pound dropped to 1.2988 against the franc and 1.3021 against the dollar, from its previous highs of 1.3035 and 1.3090, respectively. If the pound falls further, it may find support around 1.28 against the franc and 1.29 against the dollar.Having climbed to a 4-day high of 147.58 against the yen at 2:40 am ET, the pound reversed direction and eased to 146.87. The next possible support for the pound is seen around the 145.00 level. Data from the Ministry of Economy, Trade and Industry showed that Japan's all industry activity rebounded in August. The all industry activity index climbed 0.5 percent month-on-month in August, reversing a 0.2 percent drop in July and a 0.9 percent decrease in June. Economists had forecast a monthly growth of 0.4 percent.Looking ahead, Canada wholesale sales for August are due at 8:30 am ET.Copyright RTT News/dpa-AFX