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15.08.2018

Bill Ackman's Pershing Square Cuts Stake In ADP

NORTH WILKESBORO (dpa-AFX) - Bill Ackman's Pershing Square Capital Management disclosed in a filing with the Securities and Exchange Commission that it has cut its position in Automatic Data Processing Inc. (ADP) to 4.2 million shares at the end of June from 8.8 million shares at the end of March. Ackman had built up a stake in ADP as a part of his failed proxy battle, where he attempted to secure three seats on the board. Pershing has built a position in United Technologies Corp. (UTX) of 4.5 million shares at the end of June. Ackman has previously called for the breakup of United Technologies. Pershing also said it had upped its stake in Mondelez International Inc. (MDLZ) to 16.4 million shares versus 13.9 million shares previously, and built up a position in Lowe's Companies Inc. (LOW) of 7.7 million shares. The hedge fund's positions in companies such as Chipotle Mexican Grill Inc. (CMG) were mostly unchanged.Copyright RTT News/dpa-AFX
15.08.2018

RBS To Pay $4.9 Bln For Financial Crisis-Era Misconduct

LONDON (dpa-AFX) - Royal Bank of Scotland Group Plc. (RBS, RBS.L) will pay $4.9 billion to settle charges that it misled investors ahead of the 2008 financial crisis. The settlement is largest penalty imposed on a single entity by the U.S. Justice Department for financial crisis-era misconduct.'This resolution - the largest of its kind - holds RBS accountable for defrauding the people and institutions that form the backbone of our investing community,' said Andrew Lelling, U.S. Attorney for the District of Massachusetts.The Justice Department said that the settlement resolves federal civil claims that RBS misled investors in the underwriting and issuing of residential mortgage-backed securities or RMBS between 2005 and 2008. The settlement included a statement of facts that details - using contemporaneous calls and emails of RBS executives - how RBS routinely made misrepresentations to investors about significant risks it failed to disclose about its residential mortgage-backed securities.The Department noted that RBS earned hundreds of millions of dollars, while simultaneously ensuring that it received repayment of billions of dollars it had lent to originators to fund the faulty loans underlying the RMBS. RBS used RMBS to push the risk of the loans, and tens of billions of dollars in subsequent losses, onto unsuspecting investors across the world, including non-profits, retirement funds, and federally-insured financial institutions. As losses mounted, and after many mortgage lenders who originated those loans had gone out of business, RBS executives showed little regard for this misconduct and made light of it.Copyright RTT News/dpa-AFX
15.08.2018

Buffett's Berkshire Increases Its Holdings Of Apple Stock

ATLANTA (dpa-AFX) - Warren Buffett's Berkshire Hathaway Inc. (BRK-B, BRK-A, BRKa) continued to load up on technology giant Apple Inc. (AAPL) in the second quarter.Berkshire increased its holdings of Apple stock by 12.4 million shares in the quarter, taking its stake to $46.6 billion by the end of June, according to a new securities filing on Tuesday.Berkshire has repeatedly added shares of the iPhone maker, including more than doubling its stake in early 2017. As of March 31, Berkshire was Apple's second-largest shareholder after Vanguard Group, holding 4.96% of Apple stock.In the second quarter, Berkshire also sold some shares in Wells Fargo & Co. while adding to its shares of Goldman Sachs Group Inc.Berkshire sold 4.5 million shares of Wells Fargo in the second quarter and bought 2.3 million shares of Goldman Sachs. The firm also bought 9.9 million shares of U.S. Bancorp.The firm adjusted its airline holdings in the quarter. It sharply increased its stakes in Delta Air Lines Inc. and Southwest Airlines Co., while reducing its ownership in American Airlines Group Inc. and United Continental Holdings.Copyright RTT News/dpa-AFX
15.08.2018

Icahn Starts Positions In Cigna, Dell, VMware

NORWALK (dpa-AFX) - Activist investor Carl Icahn started a few new positions over the last quarter and added to his stakes in Icahn Enterprises LP (IEP) and Herbalife Nutrition Ltd. (HLF), according to a filing with the Securities and Exchange Commission.Icahn also increased his stake in Newell Brands Inc. (NWL). Icahn also started new positions in AmTrust Financial Services Inc. (AFSI), Cigna Corp. (CI), Energen Corp. (EGN) and Dell Technologies Inc. Class V shares (DVMT) along with shares of VMware Inc. (VMW). Icahn trimmed his stakes in Cheniere Energy Inc. (LNG) and Xerox Corp. (XRX).Copyright RTT News/dpa-AFX
15.08.2018

Kroger To Sell Groceries On Alibaba's Tmall Global Site In China

BEIJING (dpa-AFX) - Kroger Co. (KR) will sell its products in China on an e-commerce site owned by Alibaba Group Holding Ltd.Kroger said it plans to open an online storefront on Alibaba's Tmall Global site, the Chinese internet titan's platform for international brands. The site will launch Wednesday with an initial product offering that includes dietary supplements and private-label products, much of it natural and organic goods.'E-commerce enables Kroger to quickly scale to reach new customers and markets where we don't operate physical stores, starting with China,' said Yael Cosset, Kroger's chief digital officer.Copyright RTT News/dpa-AFX
14.08.2018

Diamondback Energy To Buy Energen Corp. In $9.2 Bln All-stock Deal

WASHINGTON (dpa-AFX) - Diamondback Energy Inc. (FANG) Tuesday said it has agreed to buy Energen Corp. (EGN) in an all-stock transaction deal valued at about $9.2 billion.The deal includes Energen's net debt of $830 million as of June 30, 2018.The stock consideration will consist of 0.6442 shares of Diamondback for each share of Energen.The stock consideration represents an implied value to each Energen shareholder of $84.95 per share based on the closing price of Diamondback common stock on August 13, 2018. The consideration represents about 19% premium to Energen's closing price of $71.36 on August 13, 2018. Upon closing the transaction, Diamondback shareholders will own approximately 62% of the combined company, and Energen shareholders will own approximately 38%. The transaction was unanimously approved by the Board of Directors of each company. 'This transaction represents a transformational moment for both Diamondback and Energen shareholders as they are set to benefit from owning the premier large cap Permian independent with industry leading production growth, operating efficiency, margins and capital productivity supporting an increasing capital return program,' stated Travis Stice, Chief Executive Officer of Diamondback.The transaction, which is expected to be completed by the end of the fourth quarter of 2018, is subject to the approval of both Diamondback and Energen shareholders, the satisfaction of certain regulatory approvals and other customary closing conditions.Copyright RTT News/dpa-AFX
14.08.2018

SORL Auto Parts Inc. Announces Advance In Q2 Bottom Line

BEIJING (dpa-AFX) - SORL Auto Parts Inc. (SORL) reported a profit for its second quarter that advanced from last year.The company's profit totaled $6.74 million, or $0.35 per share. This compares with $5.92 million, or $0.31 per share, in last year's second quarter.Analysts had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 40.1% to $128.50 million from $91.73 million last year.SORL Auto Parts Inc. earnings at a glance:-Earnings (Q2): $6.74 Mln. vs. $5.92 Mln. last year.-EPS (Q2): $0.35 vs. $0.31 last year.-Analysts Estimate: $0.29-Revenue (Q2): $128.50 Mln vs. $91.73 Mln last year. -Guidance:Full year EPS guidance: $450 MlnCopyright RTT News/dpa-AFX
14.08.2018

Agilent Technologies Q3 adjusted earnings Beat Estimates

SANTA CLARA (dpa-AFX) - Agilent Technologies (A) released earnings for its third quarter that advanced from the same period last year.The company's bottom line totaled $236 million, or $0.73 per share. This compares with $175 million, or $0.54 per share, in last year's third quarter.Excluding items, Agilent Technologies reported adjusted earnings of $217 million or $0.67 per share for the period. Analysts had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 8.1% to $1.20 billion from $1.11 billion last year.Agilent Technologies earnings at a glance:-Earnings (Q3): $217 Mln. vs. $191 Mln. last year.-EPS (Q3): $0.67 vs. $0.59 last year.-Analysts Estimate: $0.63-Revenue (Q3): $1.20 Bln vs. $1.11 Bln last year.Copyright RTT News/dpa-AFX
14.08.2018

Express Scripts Extending Recent Move To The Upside

COOL VALLEY (dpa-AFX) - Extending a recent upward move, shares of Express Scripts (ESRX) have seen notable strength during trading on Tuesday. Express Scripts is currently up by 1.8 percent after reaching its best intraday level in well over two years.The continued advance by Express Scripts comes following news activist investor Carl Icahn has abandoned his efforts to stop Cigna's (CI) takeover of the pharmacy benefits manager.Copyright RTT News/dpa-AFX
14.08.2018

Advance Auto Parts Sharply Higher On Upbeat Q2 Results, Guidance

WASHINGTON (dpa-AFX) - After gapping open higher, shares of Advance Auto Parts (AAP) continue to see considerable strength in afternoon trading on Tuesday. Advance Auto Parts is currently up by 8.4 percent after reaching its best intraday level in well over a year.The rally by Advance Auto Parts comes after the auto parts retailer reported better than expected second quarter results and raised its full-year guidance. The company also announced a new $600 million share repurchase authorization.Copyright RTT News/dpa-AFX
15.08.2018

Asian Markets Mostly Lower As Turkey Concerns Weigh

CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Wednesday despite the overnight gains on Wall Street. Lingering concerns about Turkey's financial crisis weighed on investor sentiment despite the Turkish lira strengthening from a record low earlier in the week after the country's central bank pledged to provide liquidity and cut reserve requirements for banks.In retaliation for U.S. sanctions on Turkey over its refusal to extradite a U.S. preacher imprisoned in the country, Turkish President Recep Erdogan threatened to boycott U.S. electronic goods, including Apple's iPhone device.The Australian market is modestly lower, reflecting weakness in resources stocks and as several blue-chip stocks traded ex-dividend. Investors also digested mixed corporate earnings results.In late-morning trades, the benchmark S&P/ASX 200 Index is declining 5.10 points or 0.08 percent to 6,294.50, off a low of 6,274.70 earlier. The broader All Ordinaries Index is down 3.20 points or 0.05 percent to 6,383.00.The major miners are mostly lower. Rio Tinto is declining 0.6 percent and Fortescue Metals is down 0.4 percent, while BHP Billiton is adding 0.5 percent. Oil stocks are also mostly lower after crude oil prices drifted lower overnight. Santos is adding more than 1 percent, while Oil Search is lower by 0.7 percent.Woodside Petroleum reported a 6 percent increase in half-year profit, while revenues rose 27 percent. However, the company's shares are down more than 2 percent.Gold miners are also weak despite gold prices edging higher. Evolution Mining is losing more than 1 percent and Newcrest Mining is down almost 2 percent.In the banking space, ANZ Banking, Westpac and National Australia Bank are higher in a range of 0.5 percent to 0.9 percent, while Commonwealth Bank is down 0.3 percent.Insurance Australia Group reported a 0.6 percent decline in full-year net profit, while revenue rose more than 2 percent. The insurance giant's shares are losing 6 percent.Fairfax Media, which is being acquired by Nine Entertainment, reported a full-year net loss on lower revenues and one-time charges. The media company's shares are losing almost 3 percent.Wesfarmers recorded a 58 percent fall in full-year net profit and said that Guy Russo will retire as CEO of its department stores division, to be replaced by Kmart managing director Ian Bailey. The retail conglomerate's shares are rising more than 3 percent.CSL said its full-year net profit rose 29 percent on new launches and strong sales of products. The vaccines and blood product supplier's shares are gaining 2 percent.Seek reported an 84 percent fall in full-year net profit and announced the departure of its chairman Neil Chatfield. The online job search company's shares are adding 0.4 percent.On the economic front, the latest survey from Westpac Bank revealed that consumer confidence in Australia ebbed in August, sinking 2.3 percent to a score of 103.6. That follows the 3.9 percent jump in July to a reading of 106.1. The index score remains above 100 points, meaning the optimists outnumber pessimists.The Australian Bureau of Statistics said that wage prices in Australia were up a seasonally adjusted 0.6 percent on quarter in the second three months of 2018. That was in line with expectations and up from 0.5 percent in the three months prior.In the currency market, the Australian dollar is lower against the U.S. dollar on Wednesday. The local currency was quoted at US$0.7231, down from US$0.7266 on Tuesday.The Japanese market drifted lower, after opening higher following the positive cues from Wall Street and on a weaker yen, as worries about Turkey's financial crisis weighed on investor sentiment. The benchmark Nikkei 225 Index is down 56.31 points or 0.25 percent to 22,299.77, off a low of 22,268.60 earlier. Japanese shares rose sharply on Tuesday.The major exporters are lower despite a weaker yen. Mitsubishi Electric and Canon are declining almost 1 percent each, while Panasonic is lower by 0.6 percent and Sony is down 0.2 percent.In the auto space, Honda is down 0.5 percent and Toyota is lower by 0.1 percent. In the banking sector, Mitsubishi UFJ Financial is declining 0.2 percent, while Sumitomo Mitsui Financial is adding 0.2 percent.Among oil stocks, Inpex is advancing almost 1 percent, while Japan Petroleum is losing 1 percent after crude oil prices declined overnight.Among the market's best performers, Kawasaki Kisen Kaisha is rising more than 3 percent and Kikkoman Corp. is gaining almost 3 percent. Yamato Holdings and Aeon Co. are higher by more than 2 percent each.On the flip side, Kyowa Hakko Kirin and Sumco Corp. are losing more than 3 percent each, while Furukawa Electric is down almost 3 percent and Mitsui Mining & Smelting is declining more than 2 percent.In the currency market, the U.S. dollar is trading in the lower 111 yen-range on Wednesday.Elsewhere in Asia, Indonesia is losing more than 1 percent and Hong Kong is down almost 1 percent. Shanghai, Singapore and Taiwan are also lower. Meanwhile, New Zealand and Malaysia are edging higher. Markets in South Korea and India are closed on Wednesday for public holidays.On Wall Street, stocks closed higher on Tuesday, partly reflecting easing concerns about the financial crisis in Turkey amid a rebound by the country's currency. However, traders seemed somewhat reluctant to make more significant moves ahead of the release of key reports on retail sales, industrial production, and housing starts in the coming days.The Dow rose 112.22 points or 0.5 percent to 25,299.92, the Nasdaq advanced 51.19 points or 0.7 percent to 7,870.89 and the S&P 500 climbed 18.03 points or 0.6 percent to 2,839.98.The major European markets moved modestly lower on Tuesday. While the German DAX Index closed nearly unchanged, the French CAC 40 Index edged down by 0.2 percent and the U.K.'s FTSE 100 Index dipped by 0.4 percent.Crude oil futures failed to hold early gains and settled lower on Tuesday. WTI crude for September declined $0.16 or 0.24 percent to $67.04 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
15.08.2018

Asian Markets Mostly Lower

CANBERA (dpa-AFX) - Asian stock markets are mostly lower on Wednesday despite the overnight gains on Wall Street. Lingering concerns about Turkey's financial crisis weighed on investor sentiment even as the Turkish lira strengthened from a record low earlier in the week after the country's central bank pledged to provide liquidity and cut reserve requirements for banks.In retaliation for U.S. sanctions on Turkey over its refusal to extradite a U.S. preacher imprisoned in the country, Turkish President Recep Erdogan threatened to boycott U.S. electronic goods, including Apple's iPhone device.The Australian market is modestly lower, reflecting weakness in resources stocks and as several blue-chip stocks traded ex-dividend. Investors also digested mixed corporate earnings results.In late-morning trades, the benchmark S&P/ASX 200 Index is declining 5.10 points or 0.08 percent to 6,294.50, off a low of 6,274.70 earlier. The broader All Ordinaries Index is down 3.20 points or 0.05 percent to 6,383.00.The major miners are mostly lower. Rio Tinto is declining 0.6 percent and Fortescue Metals is down 0.4 percent, while BHP Billiton is adding 0.5 percent. Oil stocks are also mostly lower after crude oil prices drifted lower overnight. Santos is adding more than 1 percent, while Oil Search is lower by 0.7 percent.Woodside Petroleum reported a 6 percent increase in half-year profit, while revenues rose 27 percent. However, the company's shares are down more than 2 percent.Gold miners are also weak despite gold prices edging higher. Evolution Mining is losing more than 1 percent and Newcrest Mining is down almost 2 percent.In the banking space, ANZ Banking, Westpac and National Australia Bank are higher in a range of 0.5 percent to 0.9 percent, while Commonwealth Bank is down 0.3 percent.Insurance Australia Group reported a 0.6 percent decline in full-year net profit, while revenue rose more than 2 percent. The insurance giant's shares are losing 6 percent.Fairfax Media, which is being acquired by Nine Entertainment, reported a full-year net loss on lower revenues and one-time charges. The media company's shares are losing almost 3 percent.Wesfarmers recorded a 58 percent fall in full-year net profit and said that Guy Russo will retire as CEO of its department stores division, to be replaced by Kmart managing director Ian Bailey. The retail conglomerate's shares are rising more than 3 percent.CSL said its full-year net profit rose 29 percent on new launches and strong sales of products. The vaccines and blood product supplier's shares are gaining 2 percent.Seek reported an 84 percent fall in full-year net profit and announced the departure of its chairman Neil Chatfield. The online job search company's shares are adding 0.4 percent.On the economic front, the latest survey from Westpac Bank revealed that consumer confidence in Australia ebbed in August, sinking 2.3 percent to a score of 103.6. That follows the 3.9 percent jump in July to a reading of 106.1. The index score remains above 100 points, meaning the optimists outnumber pessimists.The Australian Bureau of Statistics said that wage prices in Australia were up a seasonally adjusted 0.6 percent on quarter in the second three months of 2018. That was in line with expectations and up from 0.5 percent in the three months prior.In the currency market, the Australian dollar is lower against the U.S. dollar on Wednesday. The local currency was quoted at US$0.7231, down from US$0.7266 on Tuesday.The Japanese market drifted lower, after opening higher following the positive cues from Wall Street and on a weaker yen, as worries about Turkey's financial crisis weighed on investor sentiment. The benchmark Nikkei 225 Index is down 56.31 points or 0.25 percent to 22,299.77, off a low of 22,268.60 earlier. Japanese shares rose sharply on Tuesday.The major exporters are lower despite a weaker yen. Mitsubishi Electric and Canon are declining almost 1 percent each, while Panasonic is lower by 0.6 percent and Sony is down 0.2 percent.In the auto space, Honda is down 0.5 percent and Toyota is lower by 0.1 percent. In the banking sector, Mitsubishi UFJ Financial is declining 0.2 percent, while Sumitomo Mitsui Financial is adding 0.2 percent.Among oil stocks, Inpex is advancing almost 1 percent, while Japan Petroleum is losing 1 percent after crude oil prices declined overnight.Among the market's best performers, Kawasaki Kisen Kaisha is rising more than 3 percent and Kikkoman Corp. is gaining almost 3 percent. Yamato Holdings and Aeon Co. are higher by more than 2 percent each.On the flip side, Kyowa Hakko Kirin and Sumco Corp. are losing more than 3 percent each, while Furukawa Electric is down almost 3 percent and Mitsui Mining & Smelting is declining more than 2 percent.In the currency market, the U.S. dollar is trading in the lower 111 yen-range on Wednesday.Elsewhere in Asia, Indonesia is losing more than 1 percent and Hong Kong is down almost 1 percent. Shanghai, Singapore and Taiwan are also lower. Meanwhile, New Zealand and Malaysia are edging higher. Markets in South Korea and India are closed on Wednesday for public holidays.On Wall Street, stocks closed higher on Tuesday, partly reflecting easing concerns about the financial crisis in Turkey amid a rebound by the country's currency. However, traders seemed somewhat reluctant to make more significant moves ahead of the release of key reports on retail sales, industrial production, and housing starts in the coming days.The Dow rose 112.22 points or 0.5 percent to 25,299.92, the Nasdaq advanced 51.19 points or 0.7 percent to 7,870.89 and the S&P 500 climbed 18.03 points or 0.6 percent to 2,839.98.The major European markets moved modestly lower on Tuesday. While the German DAX Index closed nearly unchanged, the French CAC 40 Index edged down by 0.2 percent and the U.K.'s FTSE 100 Index dipped by 0.4 percent.Crude oil futures failed to hold early gains and settled lower on Tuesday. WTI crude for September declined $0.16 or 0.24 percent to $67.04 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
15.08.2018

Japanese Market Drifts Lower

TOKYO (dpa-AFX) - The Japanese stock market drifted lower on Wednesday, after opening higher following the positive cues from Wall Street and on a weaker yen, as worries about Turkey's financial crisis weighed on investor sentiment. The benchmark Nikkei 225 Index is down 56.31 points or 0.25 percent to 22,299.77, off a low of 22,268.60 earlier. Japanese shares rose sharply on Tuesday.The major exporters are lower despite a weaker yen. Mitsubishi Electric and Canon are declining almost 1 percent each, while Panasonic is lower by 0.6 percent and Sony is down 0.2 percent.In the auto space, Honda is down 0.5 percent and Toyota is lower by 0.1 percent. In the banking sector, Mitsubishi UFJ Financial is declining 0.2 percent, while Sumitomo Mitsui Financial is adding 0.2 percent.Among oil stocks, Inpex is advancing almost 1 percent, while Japan Petroleum is losing 1 percent after crude oil prices declined overnight.Among the market's best performers, Kawasaki Kisen Kaisha is rising more than 3 percent and Kikkoman Corp. is gaining almost 3 percent. Yamato Holdings and Aeon Co. are higher by more than 2 percent each.On the flip side, Kyowa Hakko Kirin and Sumco Corp. are losing more than 3 percent each, while Furukawa Electric is down almost 3 percent and Mitsui Mining & Smelting is declining more than 2 percent.In the currency market, the U.S. dollar is trading in the lower 111 yen-range on Wednesday.On Wall Street, stocks closed higher on Tuesday, partly reflecting easing concerns about the financial crisis in Turkey amid a rebound by the country's currency. However, traders seemed somewhat reluctant to make more significant moves ahead of the release of key reports on retail sales, industrial production, and housing starts in the coming days.The Dow rose 112.22 points or 0.5 percent to 25,299.92, the Nasdaq advanced 51.19 points or 0.7 percent to 7,870.89 and the S&P 500 climbed 18.03 points or 0.6 percent to 2,839.98.The major European markets moved modestly lower on Tuesday. While the German DAX Index closed nearly unchanged, the French CAC 40 Index edged down by 0.2 percent and the U.K.'s FTSE 100 Index dipped by 0.4 percent.Crude oil futures failed to hold early gains and settled lower on Tuesday. WTI crude for September declined $0.16 or 0.24 percent to $67.04 a barrel on the New York Mercantile Exchange.Copyright RTT News/dpa-AFX
15.08.2018

China Stock Market May Stop The Bleeding On Wednesday

BEIJING (dpa-AFX) - The China stock market has moved lower in consecutive trading days, sliding almost 15 points or 0.6 percent along the way. The Shanghai Composite Index now rests just above the 2,780-point plateau although it should find traction on Wednesday.The global forecast for the Asian markets is cautiously optimistic thanks to easing concerns about the financial crisis in Turkey. The European markets were down and the U.S. bourses were higher - and the Asian markets figure to follow the latter lead.The SCI finished slightly lower on Tuesday following losses from the properties, a mixed picture from the financials and gains among the oil companies.For the day, the index slid 4.91 points or 0.18 percent to finish at 2,780.96 after trading between 2,766.57 and 2,789.44. The Shenzhen Composite Index fell 6.81 points or 0.45 percent to end at 1,513.90.Among the actives, Poly Real Estate plummeted 3.57 percent, while China Vanke plunged 3.13 percent, Gemdale skidded 1.13 percent, China Construction Bank collected 0.15 percent, Bank of China added 0.29 percent, Industrial and Commercial Bank of China shed 0.37 percent, China Merchants Bank lost 0.72 percent, China Life gained 0.27 percent, China Petroleum and Chemical picked up 0.45 percent, PetroChina jumped 1.50 percent and China Shenhua Energy eased 0.06 percent.The lead from Wall Street is upbeat as stocks were higher on Tuesday after heading south in the previous session. The major averages all moved to the upside, with the Dow and the S&P rebounding after closing lower for four consecutive sessions.The Dow rose 112.22 points or 0.45 percent to 25,299.92, the NASDAQ advanced 51.19 points or 0.65 percent to 7,870.89 and the S&P 500 climbed 18.03 points or 0.64 percent to 2,839.96.The strength reflected a rebound by Turkey's currency - which continued to recover from a record low after Turkey's central bank pledged to provide liquidity and cut reserve requirements for banks.In economic news, the Labor Department said import prices were unchanged in July, as a jump in prices for fuel imports offset a drop in non-fuel imports. Meanwhile, export prices fell by 0.5 percent versus expectations for a rise of 0.2 percent.Crude oil futures failed to hold early gains and settled lower on Tuesday. Crude oil futures for September delivery ended down $0.16 at $67.04 a barrel, after advancing to $68.36 a barrel earlier.Closer to home, China will provide July figures for new home prices later today; in June, prices advanced 1.1 percent on year.Copyright RTT News/dpa-AFX
14.08.2018

Computer Hardware Stocks Showing Strong Move To The Upside

WASHINGTON (dpa-AFX) - Computer hardware stocks have shown a significant move to the upside during trading on Tuesday, driving the NYSE Arca Computer Hardware Index up by 1.8 percent. The index is bouncing off a three-month closing low.Copyright RTT News/dpa-AFX
14.08.2018

The Swiss Stock Market Clung To A Small Increase

BRUSSELS (dpa-AFX) - The Swiss stock market got off to a positive start Tuesday, but pared its early gains over the course of the session. The market managed to hold onto a very small increase at the end of the day.The Swiss Market Index increased by 0.05 percent Tuesday and finished at 9,010.19. The Swiss Leader Index declined 0.03 percent and the Swiss Performance Index gained 0.07 percent. Geberit dropped 1.6 percent following its second quarter earnings report. Swiss Life slid 0.2 percent. The company reported results for the first half of the year and appointed a new CFO.Banking giant Credit Suisse Group finished lower by 0.6 percent on a Bloomberg report that it is breaking up its international wealth-management unit into seven regions from four.Dental implant maker Straumann jumped 4.5 percent after the company raised its full-year revenue target.Among the index heavyweights, Roche climbed 0.6 percent and Nestle added 0.4 percent. Novartis fell 0.2 percent. Givaudan climbed 1 percent and Lafargeholcim gained 0.6 percent.Copyright RTT News/dpa-AFX
14.08.2018

European Markets Finished Mixed After Early Gains Erode

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets got off to a positive start Tuesday, but pared their gains in the afternoon. The markets ended with mixed results after a recovery in late trade was fueled by an uptick in the U.S. markets.The positive early gains were fueled by the latest batch of European economic data and an easing of concerns over the currency crisis in Turkey.The pan-European Stoxx Europe 600 index advanced 0.02 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.01 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.16 percent.The DAX of Germany climbed 0.00 percent and the CAC of France fell 0.17 percent. The FTSE 100 of the U.K. declined 0.40 percent and the SMI of Switzerland finished higher by 0.05 percent.In Frankfurt, utility RWE rallied 3.64 percent after its first-half core profit came in line with expectations.Engineering services giant Bilfinger rose 0.24 percent despite the firm reporting a rise in Q2 net profit and reaffirming its outlook for 2018.In London, miner Antofagasta tumbled 6.44 percent after its first-half earnings fell 16 percent from last year.Banking giant Credit Suisse Group finished lower by 0.56 percent on a Bloomberg report that it is breaking up its international wealth-management unit into seven regions from four.Dental implant maker Straumann jumped 4.52 percent after the company raised its full-year revenue target.China's industrial production and retail sales grew weaker-than-expected in July amid subdued expansion in fixed asset investment, highlighting difficulties in the domestic economy that are over and above the external uncertainties. Industrial production growth held steady at 6 percent annually in July, data from the National Bureau of Statistics showed Tuesday. Economists had forecast a faster growth of 6.3 percent.Retail sales grew at a slower pace of 8.8 percent year-on-year in July, slower than the 9 percent increase in June. Sales were forecast to climb 9.1 percent in July. The euro area economy expanded more than initially estimated in the second quarter, flash estimate published by Eurostat showed Tuesday. Gross domestic product climbed 0.4 percent sequentially, the same pace of increase as seen in the first quarter, but revised up from the initial estimate of 0.3 percent.Germany's economic confidence improved more than expected in August, survey data from the Centre for European Economic Research showed Tuesday. The ZEW Indicator of Economic Sentiment climbed notably to -13.7 in August from -24.7 in July, the Mannheim-based think tank said. The expected score was -21.3. Nonetheless, the indicator remained significantly below its long-term average of +23.0. Germany's economic growth exceeded expectations in the second quarter on domestic demand and optimism among financial market experts strengthened notably despite escalating trade tensions between the U.S. and China. The largest euro area economy grew 0.5 percent sequentially, following the 0.4 percent increase in the first quarter, Destatis reported Tuesday. The growth rate was expected to remain unchanged at 0.4 percent.Germany's consumer price inflation slowed as initially estimated in July, latest figures from Destatis showed Tuesday. Inflation moderated to a 3-month low of 2.0 percent in July from 2.1 percent in June. That was in line with the flash data published on July 30.France's consumer price inflation accelerated in July as expected initially, latest data from INSEE showed Tuesday. Consumer prices rose 2.3 percent year-on-year after a 2 percent increase in June. Higher energy prices led the acceleration.France's unemployment rate dropped marginally in the second quarter, data published by the statistical office Insee showed Tuesday. The unemployment rate in metropolitan France dropped to 8.7 percent from 8.9 percent in the first quarter.The UK unemployment rate dropped to a new low in the second quarter, the Office for National Statistics reported Tuesday. The ILO jobless rate came in at 4 percent in the second quarter, the lowest since February 1975. The rate was expected to remain unchanged at 4.2 percent. With a jump in prices for fuel imports offset by a drop in prices for non-fuel imports, the Labor Department released a report on Tuesday showing import prices in the U.S. came in unchanged in the month of July.The Labor Department said import prices were unchanged in July after edging down by a revised 0.1 percent in June. Economists had expected import prices to inch up by 0.1 percent compared to the 0.4 percent decrease originally reported for the previous month.Meanwhile, the report said export prices fell by 0.5 percent in July after rising by a downwardly revised 0.2 percent in June.Export prices had been expected to rise by 0.2 percent compared to the 0.3 percent increase originally reported for the previous month.Copyright RTT News/dpa-AFX
14.08.2018

European Shares Rebound As Lira Recovers From Record Low

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were broadly higher on Tuesday as concerns over Turkey eased somewhat and a slew of European data painted a positive picture. The pan-European Stoxx Europe 600 index was up 0.4 percent at 386.30 in late opening deals after declining 0.3 percent on Monday.The German DAX was rising 0.3 percent and France's CAC 40 index was moving up 0.2 percent while the U.K's FTSE 100 was little changed with a negative bias.Swiss banking giant Credit Suisse Group was trading flat on a Bloomberg report that it is breaking up its international wealth-management unit into seven regions from four.Dental implant maker Straumann jumped over 2 percent after the company raised its full-year revenue target. Chilean copper miner Antofagasta tumbled 5.4 percent after its first-half earnings fell 16 percent from last year.German utility RWE rallied 2.8 percent after its first-half core profit came in line with expectations.In economic news, German consumer price inflation moderated to a 3-month low of 2.0 percent in July from 2.1 percent in June, a government report showed. Another report showed that Germany's GDP climbed 0.5 percent sequentially in the second quarter, up from 0.4 percent growth estimated by analysts and the revised 0.4 percent increase in the first quarter.The German ZEW economic sentiment index improved in August and Eurozone GDP figures for the second quarter came in slightly better than expected, helping support regional sentiment. Elsewhere, the U.K. jobless rate hit a 43-year-low in three months to June, but wage growth has slowed to the weakest rate in almost a year, official data showed.Copyright RTT News/dpa-AFX
14.08.2018

FTSE 100 Marginally Higher In Lackluster Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were slightly higher in cautious trade on Tuesday as the Turkish lira stabilized and investors digested mixed employment data. The U.K. jobless rate hit a 43-year-low in three months to June, but wage growth has slowed to the weakest rate in almost a year, official data showed. The benchmark FTSE 100 was up 7 points at 7,649 in late opening deals after declining 0.3 percent the previous day. Chilean copper miner Antofagasta tumbled 5.4 percent after its first-half earnings fell 16 percent from last year.Copyright RTT News/dpa-AFX
14.08.2018

CAC 40 Modestly Higher After Solid Data

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were modestly higher on Tuesday as the Turkish lira stabilized and second-quarter GDP data from Germany topped forecasts.Also, the German ZEW economic sentiment index improved in August and Eurozone GDP figures for the second quarter came in slightly better than expected, helping support underlying sentiment. The lira recovered some of its losses after the country's central bank announced measures to boost liquidity and help its banks.The benchmark CAC 40 was up 17 points or 0.32 percent at 5,429 in opening deals after finishing marginally lower in the previous session.Banks were trading mixed after recent heavy losses on concerns over Turkey. BNP Paribas rose 0.4 percent, while Credit Agricole shed 0.6 percent and Societe Generale eased 0.2 percent.Copyright RTT News/dpa-AFX
14.08.2018

Dollar Recovers After Early Dip

WASHINGTON (dpa-AFX) - The dollar got off to a weak start against its major rivals Tuesday, but has since staged a recovery and turned higher. Early strength was sparked by an improvement in sentiment following a recovery of Turkish lira after the country's central bank introduced measures to boost liquidity in the market.With a jump in prices for fuel imports offset by a drop in prices for non-fuel imports, the Labor Department released a report on Tuesday showing import prices in the U.S. came in unchanged in the month of July.The Labor Department said import prices were unchanged in July after edging down by a revised 0.1 percent in June. Economists had expected import prices to inch up by 0.1 percent compared to the 0.4 percent decrease originally reported for the previous month.Meanwhile, the report said export prices fell by 0.5 percent in July after rising by a downwardly revised 0.2 percent in June.Export prices had been expected to rise by 0.2 percent compared to the 0.3 percent increase originally reported for the previous month.The dollar has climbed to a 13-month high of $1.1335 against the Euro Tuesday afternoon, from an early low of $1.1429.The euro area economy expanded more than initially estimated in the second quarter, flash estimate published by Eurostat showed Tuesday. Gross domestic product climbed 0.4 percent sequentially, the same pace of increase as seen in the first quarter, but revised up from the initial estimate of 0.3 percent.Germany's economic confidence improved more than expected in August, survey data from the Centre for European Economic Research showed Tuesday. The ZEW Indicator of Economic Sentiment climbed notably to -13.7 in August from -24.7 in July, the Mannheim-based think tank said. The expected score was -21.3. Nonetheless, the indicator remained significantly below its long-term average of +23.0. Germany's economic growth exceeded expectations in the second quarter on domestic demand and optimism among financial market experts strengthened notably despite escalating trade tensions between the U.S. and China. The largest euro area economy grew 0.5 percent sequentially, following the 0.4 percent increase in the first quarter, Destatis reported Tuesday. The growth rate was expected to remain unchanged at 0.4 percent.Germany's consumer price inflation slowed as initially estimated in July, latest figures from Destatis showed Tuesday. Inflation moderated to a 3-month low of 2.0 percent in July from 2.1 percent in June. That was in line with the flash data published on July 30.France's consumer price inflation accelerated in July as expected initially, latest data from INSEE showed Tuesday. Consumer prices rose 2.3 percent year-on-year after a 2 percent increase in June. Higher energy prices led the acceleration.France's unemployment rate dropped marginally in the second quarter, data published by the statistical office Insee showed Tuesday. The unemployment rate in metropolitan France dropped to 8.7 percent from 8.9 percent in the first quarter.The buck has risen to a 14-month high of $1.2715 against the pound sterling Tuesday, from an early low of $1.2826.The UK unemployment rate dropped to a new low in the second quarter, the Office for National Statistics reported Tuesday. The ILO jobless rate came in at 4 percent in the second quarter, the lowest since February 1975. The rate was expected to remain unchanged at 4.2 percent. The greenback dipped to an early low of Y110.587 against the Japanese Yen Tuesday, but has since rebounded to around Y111.225.Japan's industrial production decreased less than initially estimated in June, preliminary figures from the Ministry of Economy, Trade and Industry showed Tuesday. Industrial production dropped a seasonally-adjusted 1.8 percent month-over-month in June, faster than the 0.2 percent fall in the previous month. That was slower than the 2.1 percent decline in the flash data.Copyright RTT News/dpa-AFX
14.08.2018

U.S. Dollar Weakens Against Most Majors

CANBERA (dpa-AFX) - The U.S. dollar fell against its most major counterparts in the European session on Tuesday, as sentiment improved following a recovery of Turkish lira after the country's central bank introduced measures to boost liquidity in the market.On Monday, Turkey's central bank announced a series of measures to improve liquidity in the banking system and cut reserve requirements to stabilize the lira.The central bank cut the lira's reserve requirement ratio by 250 basis points for all maturity brackets and lowered reserve requirement ratios for non-core FX liabilities by 400 basis points for maturities up to three years to contain the currency crisis.Data from the Labor Department showed that U.S. import prices came in unchanged in the month of July.The Labor Department said import prices were unchanged in July after edging down by a revised 0.1 percent in June. Economists had expected import prices to inch up by 0.1 percent compared to the 0.4 percent decrease originally reported for the previous month.The currency showed mixed trading against its major rivals in the Asian session. While it rose against the yen and the franc, it held steady against the euro. Against the pound, it dropped.The greenback eased to 110.79 against the yen, after rising to a 4-day high of 111.15 at 3:05 am ET. On the downside, 109.00 is likely seen as the next support for the greenback. Preliminary figures from the Ministry of Economy, Trade and Industry showed that Japan's industrial production decreased less than initially estimated in June.Industrial production dropped a seasonally-adjusted 1.8 percent month-over-month in June, faster than the 0.2 percent fall in the previous month. That was slower than the 2.1 percent decline in the flash data.The greenback dropped to 4-day lows of 0.6610 against the kiwi and 1.3072 against the loonie, off its early highs of 0.6570 and 1.3136, respectively. The greenback is seen finding support around 0.67 against the kiwi and 1.28 against the loonie.The greenback slipped to a 5-day low of 0.9901 against the franc, off an early high of 0.9945. The next possible support for the greenback is seen around the 0.97 region.The greenback held steady against the euro, after having eased from a high of 1.1380 touched at 5:00 am ET. At yesterday's close, the pair was worth 1.1410.Survey data from the Centre for European Economic Research showed that Germany's economic confidence improved more than expected in August.The ZEW Indicator of Economic Sentiment climbed notably to -13.7 in August from -24.7 in July. On the flip side, the greenback ticked up to 1.2772 against the pound, from a 4-day low of 1.2827 seen at 4:30 am ET. If the greenback rises further, 1.25 is likely seen as its next resistance level.Data from the Office for National Statistics showed that the UK unemployment rate dropped to a new low in the second quarter. The ILO jobless rate came in at 4 percent in the second quarter, the lowest since February 1975. The rate was expected to remain unchanged at 4.2 percent. The greenback advanced to a 7-1/2-month high of 0.7252 against the aussie at 4:45 am ET and held steady thereafter. The greenback is poised to find resistance around the 0.70 level.Copyright RTT News/dpa-AFX
14.08.2018

Dollar Little Changed After U.S. Import And Export Prices

BRUSSELS (dpa-AFX) - The Labor Department's Import and Export Prices for July have been issued at 8.30 am ET Tuesday. After the data, the greenback changed little against its major rivals.The greenback was trading at 1.1394 against the euro, 1.2767 against the pound, 0.9909 against the franc and 110.83 against the yen around 8:32 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Dollar Mixed Ahead Of U.S. Import And Export Prices

BRUSSELS (dpa-AFX) - The Labor Department's Import and Export Prices for July will be issued at 8.30 am ET Tuesday. The consensus is for an increase of 0.1 percent compared to a decline of 0.4 percent last month.Ahead of the data, the greenback traded mixed against its major rivals. While the greenback dropped against the franc and the yen, it rose against the pound. Against the euro, it held steady.The greenback was worth 1.1398 against the euro, 1.2772 against the pound, 0.9908 against the franc and 110.83 against the yen as of 8:25 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Pound Climbs As U.K. Jobless Rate Falls To 43-year Low

BRUSSELS (dpa-AFX) - The pound spiked up against its major counterparts in the European session on Tuesday, after a data showed that the nation's jobless rate unexpectedly fell to a 43-year-low in the three months to June.Data from the Office for National Statistics showed that the jobless rate fell to 4 percent in the three months ended June, down from 4.2 percent in the three months ended May. The rate was the lowest since February 1975.The figure matched economists' expectations.The number of people in work increased by 42,000 to 32.39 million. Economists had forecast employment growth of 93,000.The employment rate stood at 75.7 percent in the three months to June, the highest since comparable records began in 1971.The currency has been trading higher against its major counterparts in the Asian session, with the exception of the euro.The pound appreciated 0.6 percent to a 4-day high of 1.2827 against the greenback, from a low of 1.2753 touched at 5:00 pm ET. The pound is poised to challenge resistance around the 1.30 mark.The U.K. currency climbed to a 4-day high of 142.47 versus the yen, after having fallen to 141.08 at 8:00 pm ET. The pound is seen finding resistance around the 145.00 level. Preliminary figures from the Ministry of Economy, Trade and Industry showed that Japan's industrial production decreased less than initially estimated in June.Industrial production dropped a seasonally-adjusted 1.8 percent month-over-month in June, faster than the 0.2 percent fall in the previous month. That was slower than the 2.1 percent decline in the flash data.The pound added 0.6 percent to hit a 4-day high of 1.2729 against the franc, following a decline to 1.2656 at 5:00 pm ET. The pound is likely to test resistance around the 1.30 mark. The U.K. currency spiked up to 0.8896 against the euro, its strongest since August 6. Next key resistance for the pound is seen around the 0.87 region.Survey data from the Centre for European Economic Research showed that Germany's economic confidence improved more than expected in August.The ZEW Indicator of Economic Sentiment climbed notably to -13.7 in August from -24.7 in July. Looking ahead, at 8:00 am ET, German final CPI for July will be out.In the New York session, U.S. import and export prices for July are scheduled for release.Copyright RTT News/dpa-AFX
14.08.2018

Euro Little Changed After German ZEW Survey, Eurozone Data

BRUSSELS (dpa-AFX) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey data for August, euro area industrial production for June and GDP report for the second quarter have been released.After the data, the euro changed little against its major rivals.The euro was trading at 126.49 against the yen, 1.1312 against the franc, 1.1393 against the greenback and 0.8916 against the pound around 5:05 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Euro Retreats Ahead Of German ZEW Survey, Eurozone Data

BRUSSELS (dpa-AFX) - At 5.00 am ET Tuesday, Germany's ZEW economic confidence survey data for August, euro area industrial production for June and GDP report for the second quarter are due.Ahead of the data, the euro retreated from its early highs against its major rivals.The euro was worth 126.54 against the yen, 1.1315 against the franc, 1.1394 against the greenback and 0.8917 against the pound as of 4:55 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Pound Advances Further After U.K. Labor Data

BRUSSELS (dpa-AFX) - At 4.30 am ET Tuesday, the Office for National Statistics has published UK labor market statistics. After the data, the pound climbed further against its major rivals.The pound was trading at 142.31 against the yen, 1.2716 against the franc, 1.2812 against the greenback and 0.8904 against the euro around 4:31 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Pound Climbs Ahead Of U.K. Labor Data

BRUSSELS (dpa-AFX) - At 4.30 am ET Tuesday, the Office for National Statistics publishes UK labor market statistics. The ILO jobless rate is seen unchanged at 4.2 percent in the second quarter.Ahead of the data, the pound advanced against its major rivals.The pound was worth 142.03 against the yen, 1.2695 against the franc, 1.2792 against the greenback and 0.8920 against the euro as of 4:25 am ET.Copyright RTT News/dpa-AFX
14.08.2018

Franc Little Changed After Swiss Producer And Import Prices

BRUSSELS (dpa-AFX) - At 3.15 am ET Tuesday, the Federal Statistical Office has published producer and import prices for July. After the data, the franc changed little against its major rivals. The franc was trading at 111.86 against the yen, 1.1339 against the euro, 1.2712 against the pound and 0.9930 against the greenback around 3:17 am ET.Copyright RTT News/dpa-AFX