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FTSE 100 hits fresh record high, Ryanair recovers after results

By Helen Reid LONDON (Reuters) - Britain's FTSE 100 notched up a fresh record high on Monday, rising strongly as an easing in Sino-U.S. trade tensions and a strengthening dollar gave more fuel to the internationally-exposed index. The index of Britain's biggest companies (FTSE) was up 0.8 percent at 0850 GMT, hitting a new record high at 7,838.55 points. The mid-cap FTSE 250 (FTMC) also hit a record in early trading at 21,092.72 points, up 0.5 percent. UK equities enjoyed a broad-based rally,...
Posted on: May 21, 2018 13:35:54 Read More

Pound Wobbling Near This Year's Lows Faces Brexit to Italy Risks

(Bloomberg) -- The pound is running into another crucial week as it fumbles around this year’s lowest levels against the dollar for a footing. With the next round of Brexit talks, key U.K. economic reports and the still-unfolding Italian coalition drama set to converge in the coming days, front-end option volatility in sterling versus the U.S. currency has picked up from a one-month low reached at the start of last week. What investors are waiting for is to see whether the latest economi...
Posted on: May 21, 2018 09:30:15 Read More

Apple pays Ireland first tranche of disputed taxes

DUBLIN (Reuters) - Apple (NASDAQ:AAPL) has paid 1.5 billion euros (1.3 billion pounds) into an escrow account set up by the Irish government to hold 13 billion euros in disputed taxes, Finance Minister Paschal Donohoe said on Friday. The European Commission ordered Apple in August 2016 to pay the taxes it ruled it had received as illegal state aid, as part of its wider drive against what it says are sweetheart tax deals usually used by smaller states in the bloc to lure multinational companies ...
Posted on: May 18, 2018 14:37:52 Read More

Glencore declines comment on report of UK bribery probe

LONDON (Reuters) - Glencore (L:GLEN) on Friday said it could not comment on a report by Bloomberg that it may face an enquiry from Britain's Serious Fraud Office into allegations of bribery linked to its operations in Democratic Republic of Congo. Glencore's share price traded around 6 percent lower after the Bloomberg report. No-one at the SFO was immediately available for comment....
Posted on: May 18, 2018 13:21:14 Read More

Socially responsible funds dump or rethink Facebook over data privacy

By Ross Kerber BOSTON (Reuters) - Several socially conscious investment firms are selling or rethinking their Facebook Inc (O:FB) holdings, unsatisfied by the company's moves to strengthen personal data protection and online safety after scandals involving the improper sharing of users' information. The retreat from the world's largest social media network is one of the sharpest responses by investors to concerns about Facebook's handling of user data. Cambridge Analytica, a now-def...
Posted on: May 18, 2018 12:46:06 Read More

Gold Dips on Stronger Bond Yields

Investing.com - Gold prices remained lower on Friday, held back by rising Treasury yields and a stronger dollar. Comex gold futures for June delivery were down 0.12% to $1,287.90 a troy ounce as of 10:33 AM ET (14:33 GMT). The price of bouillon was driven lower by the rise in the greenback and increase in bond yields. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, inched down 0.02% to 93.37, but still remained near...
Posted on: May 18, 2018 09:09:19 Read More

Asia stocks steady as markets eye U.S.-China trade talks, dollar elevated

By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks were steady on Friday amid caution over developments in U.S.-China trade negotiations, while the dollar perched near a five-month peak after the benchmark U.S. Treasury yield hit its highest in seven years. Spreadbetters expected European stocks to open mixed, with Britain's FTSE (FTSE) dipping 0.1 percent, Germany's DAX (GDAXI) rising 0.13 percent and France's CAC (FCHI) little changed. MSCI's broadest index of Asia-Pacific shares outside J...
Posted on: May 18, 2018 07:18:48 Read More

Scotiabank quits as primary dealer of UK government debt - DMO

LONDON (Reuters) - Scotiabank has resigned as a primary dealer of British government debt, the Debt Management Office said on Thursday. "The UK Debt Management Office (DMO) is announcing that it has today accepted the resignation of Scotiabank Europe plc as a Gilt-Edged Market Maker (GEMM) in both the conventional and index-linked gilt sectors," the DMO said in a statement. The resignation takes effect from Friday, it said. Scotiabank was not immediately available for comment....
Posted on: May 17, 2018 15:18:19 Read More

L&G fund shows Renewables Infrastructure leads the pack on gender

LONDON (Reuters) - Just one of Britain's top 350 companies - RenewablesInfrastructure Group (L:TRIG) - has a "perfect" record on gender diversity, as tracked in a new fund from Legal & General Investment Management. The L&G Future World Gender in Leadership UK Index Fund, or GIRL fund, is the first such fund to focus on British firms and tilts its relative holdings of each company based on how it performs on four measures of gender diversity. Companies are graded based on the degr...
Posted on: May 17, 2018 12:22:15 Read More

Oil Rises to $80 a Barrel in London for First Time Since 2014

(Bloomberg) -- Oil rose to $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran. Brent futures added as much as 1.1 percent to $80.18 on Thursday. U.S. crude stockpiles slipped for a second week as the summer driving season approaches, government data showed on Wednesday. Goldman Sachs Group Inc (NYSE:GS). said America’s surging shale output won’t be abl...
Posted on: May 17, 2018 11:06:08 Read More

Forex - Dollar Surges Higher after U.S. Retail Data

Investing.com - The U.S. dollar rose to the best levels of the day on Tuesday, nearing last week’s four-and-a-half month highs after a slightly stronger than expected U.S. retail sales report. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.58% to 93.09 by 08:50 AM ET (12:51 GMT), re-approaching last Wednesday’s highs of 93.26, the most since December 19. The Commerce Department reported that while retail ...
Posted on: May 15, 2018 15:06:41 Read More

Brent Oil Futures Rally To Another 2014 High; $80-Level In Sight

Investing.com - Oil prices remained on the front foot on Tuesday, with Brent prices extending gains to hit another 2014 high, as looming U.S. sanctions against Iran continued to provide support. Brent crude futures, the benchmark for oil prices outside the U.S., tacked on 23 cents, or around 0.3%, to $78.46 a barrel by 4:05AM ET (0805GMT), after climbing to $78.60 earlier in the session, its highest since November 2014. Worries about Iran have been key to oil’s recent surge to late-2014 ...
Posted on: May 15, 2018 08:54:24 Read More

Asia stocks pull back after soft China data; oil higher

By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks pulled back on Tuesday, brushing off a firmer lead from Wall Street, as investors turned cautious after soft Chinese economic data and awaited fresh developments on U.S.-China trade talks and North Korea. Crude oil prices held near 3-1/2-year highs on supply concerns, while the dollar edged higher, underpinned by a rise in U.S. bond yields. Spreadbetters expected European stocks to follow their Asian peers lower, with Britain's FTSE (FTSE), ...
Posted on: May 15, 2018 07:46:01 Read More

CBS sues Redstones firm over Viacom merger

(Reuters) - CBS Corp (N:CBS) on Monday asked a court to block controlling shareholder Shari Redstone from interfering at a special meeting of its board called to consider a merger with Viacom. The news of the lawsuit, filed to a Delaware court and also seeking to dilute the 79 percent voting rights in CBS held by Redstone's National Amusements Inc, pushed the network's shares up nearly 1 percent and those in Viacom down 6 percent. National Amusements, a privately held movie theatre company own...
Posted on: May 14, 2018 14:49:57 Read More

Top 5 Things To Know In The Market On Monday

Investing.com - Here are the top five things you need to know in financial markets on Monday, May 14: 1. U.S.-China Trade Back In The Spotlight Trade was back into focus after U.S. President Donald Trump said in a Sunday tweet that he was working with Chinese President Xi Jinping to give struggling Chinese telecom giant ZTE (HK:0763) "a way to get back into business, fast."   Donald J. Trump   ✔@realDonaldTrump     President Xi of China, and I...
Posted on: May 14, 2018 11:46:09 Read More

Forex - Dollar Slides Lower, Euro Regains Ground

Investing.com - The dollar edged lower against a basket of the other major currencies on Monday after its recent rally to multi-month highs stalled amid diminished expectations for an aggressive pace of monetary tightening by the Federal Reserve this year. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.23% at 92.23 by 03:42 AM ET (07:42 AM GMT). The index hit four-and-a-half month highs of 93.26 on Wednesday before...
Posted on: May 14, 2018 10:16:21 Read More

Exclusive: North Korean traders offering cheap coal on hopes sanctions will ease - Chinese traders

By Sue-Lin Wong BEIJING (Reuters) - Some North Korean traders are offering cheap coal to Chinese buyers who are stockpiling it at ports inside the isolated country, hoping recent diplomatic moves lead to an easing of sanctions barring purchases of North Korean coal, three Chinese traders told Reuters. Official data shows China has not imported any coal from North Korea since October last year, after the United Nations banned Pyongyang from exporting coal in September. In 2016, China, Pyongyan...
Posted on: May 11, 2018 09:32:02 Read More

Iran oil sanctions could advance China's 'petro-yuan'

By Kate Duguid NEW YORK (Reuters) - China is positioned to be a chief beneficiary of the U.S. decision to withdraw from the Iran nuclear deal as it would give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday. President Donald Trump is preparing to impose new sanctions on Iran, the White House said on Wednesday, following the U.S. withdrawal from the multinational 2015 agreement that stalled Iran's nuclear program. The sanctions would aim to lim...
Posted on: May 11, 2018 07:45:16 Read More

Russian Ruble Hooks Up With Oil Rally to Surge Most in the World

(Bloomberg) -- The currency of the world’s biggest energy exporter is finally doing what it’s supposed to be doing: rallying with the price of oil. The ruble was the biggest gainer in the world on Thursday as it played catch-up with Brent crude’s surge above $77 a barrel following a national holiday. Oil had lost so much force as a driver for the currency that the 60-day correlation between the two assets has dropped to almost zero. Thursday’s rally ...
Posted on: May 10, 2018 15:06:22 Read More

Weekly Comic: Trump Dumps Iran Nuclear Deal. Will We Now See $100 Oil?

Investing.com - Oil prices surged to their highest level in three-and-a-half years this week, after U.S. President Donald Trump walked away from an international nuclear deal with Iran and reimposed “the highest level of economic sanctions” against the country. Trump said he quit the deal because Tehran continues to work on a bomb, based on evidence provided by Israeli Prime Minister Benjamin Netanyahu, and it backs terrorist groups around the Middle East. Some analysts have said t...
Posted on: May 10, 2018 13:07:11 Read More