News

News

UK housebuilders shine as FTSE comes under pressure

By Kit Rees LONDON (Reuters) - The UK's top share index retreated on Wednesday as big oil stocks fell, though housebuilders were a bright spot following comments from Berkeley Group about the London housing market. Britain's blue chip FTSE 100 (FTSE) index was down 0.4 percent at 7,425.89 points by 0853 GMT, while mid caps (FTMC) were down 0.1 percent. The FTSE's losses were in-line with a broader decline across European stock markets, which fell on the back of continuing worries over trade t...
Posted on: Sep 5, 2018 09:55:33 Read More

Sterling edges lower for a fifth day on trade war fears

LONDON (Reuters) - Sterling edged lower for a fifth consecutive day as a resurgent dollar and mounting concerns over Brexit negotiations sapped demand for the British currency. As fears grew that the United States may be preparing to go ahead with imposing a 25 percent tariff on $200 billion (£155.48 billion) of Chinese goods when a public consultation period ends on Thursday, the dollar advanced against its major rivals and emerging market currencies. An overnight bounce in the pound af...
Posted on: Sep 5, 2018 07:58:19 Read More

Dollar shifts up through the gears, EM currencies skid again

By Marc Jones LONDON (Reuters) - A rebound in Chinese shares and a rally in Italian bonds bolstered Europe's spirits on Tuesday, though the pressure remained firmly on emerging market currencies as the dollar shifted up through the gears again. Asian stocks had reversed earlier losses helped by a 1.3 percent late spurt from Shanghai, though Europe moved back into the red as gains for Italian and Spanish bank shares faded and the major London, Frankfurt and Paris bourses faltered. (EU) Italian...
Posted on: Sep 4, 2018 11:59:35 Read More

Asian shares hit by trade friction, emerging market tumult; dollar up

By Andrew Galbraith SHANGHAI (Reuters) - Asian shares fell and the dollar turned higher on Tuesday as the trade dispute between the United States and China threatened to escalate this week, and as emergency austerity measures in Argentina underscored the turbulence gripping emerging markets. MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) was down 0.3 percent. Chinese blue-chips (CSI300) also fell 0.3 percent, reversing earlier gains. Japan's Nikkei <.N2...
Posted on: Sep 4, 2018 07:47:42 Read More

Brexit progress fears drive drop in sterling against euro

By Saikat Chatterjee LONDON (Reuters) - The British pound was set on Monday for its biggest daily drop against the euro in more than three months as concerns grew about the progress of Brexit negotiations. Sentiment was also further sapped by UK manufacturing data that underscored the weak state of the British economy. Traders bought sterling last week after the European Union's chief Brexit negotiator, Michel Barnier appeared to strike a conciliatory note. That raised hopes a Brexit breakthr...
Posted on: Sep 3, 2018 15:19:04 Read More

Forex - Pound, Turkish Lira under Pressure, Dollar Holds Steady

Investing.com - The pound and the Turkish lira were pressured lower in currency markets on Monday, while the dollar remained steady against a currency basket in holiday-thinned trade. The pound sank to the lowest levels of the day after data showing that UK manufacturing activity fell to its lowest level in two years in August, weighed down by jitters over Brexit and the U.S.-China trade war. GBP/USD was down 0.77% to 1.2857 by 08:56 AM ET (12:56 GMT), from an intra-day high of 1.2933. T...
Posted on: Sep 3, 2018 14:08:40 Read More

Forex - Dollar Steady Near 1-month Low, Sterling Firm after Brexit Boost

Investing.com - The dollar was holding steady near one-month lows against a currency basket on Thursday as markets awaited trade developments, while the pound remained firm after rallying in the previous session as fears over a no-deal Brexit eased. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at 94.45 by 03:57 AM ET (07:57 GMT), not far from Tuesday’s one-month lows of 94.34. Market sentiment continued to be supp...
Posted on: Aug 30, 2018 09:15:03 Read More

Sterling jumps 0.8 percent vs. dollar, stocks slip on Barnier remarks

LONDON (Reuters) - Sterling rallied sharply on Wednesday and British stocks fell after the European Union's chief negotiator Michel Barnier signalled an accommodative stance towards the United Kingdom on ongoing Brexit negotiations. Barnier said the EU was prepared to offer a partnership with Britain such as has never been with any other third country. The British currency <gbp=d3>rallied to the day's highs of $1.2985 per dollar, up 0.8 percent on the day. Against the euro (EURGBP=D...
Posted on: Aug 29, 2018 15:29:48 Read More

IEA sees oil markets tightening towards end of 2018 - Birol

NEW DELHI (Reuters) - Global oil markets could tighten towards the end of this year due to strong demand and uncertainty of production in some oil producing nations, the head of the International Energy Agency said. "Definitely there are some worries that oil markets can tighten towards the end of this year and as major oil importing countries India and other countries need to be ready," IEA's Fatih Birol told Reuters on Wednesday after a meeting with India's Oil Minister Dharmendra Pradhan. H...
Posted on: Aug 29, 2018 11:50:51 Read More

Forex - Dollar Pushes Higher But Trade Uncertainty Checks Gains

Investing.com - The dollar pushed higher against a currency basket on Wednesday after hitting a one-month low overnight, but gains were held in check amid uncertainty over the U.S. trade situation. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.13% to 94.75 by 03:10 AM ET (07:10 GMT), pulling away from an overnight low of 94.34, which was the weakest level since August 1. Market sentiment has been boosted by the more...
Posted on: Aug 29, 2018 07:35:59 Read More

Turkish lira weakens against dollar, minister warns on sanctions

ISTANBUL (Reuters) - The Turkish lira weakened on Tuesday as investors weighed up Turkey's efforts to manage its rift with the United States after Finance Minister Berat Albayrak warned that U.S. trade sanctions against Ankara could destabilise the Middle East. The row with Washington over an American evangelical Christian pastor detained in Turkey on terrorism charges has accelerated losses in the lira, which is down about 38 percent against the dollar this year. At 0509 GMT, the lira &l...
Posted on: Aug 28, 2018 09:49:31 Read More

Bunzl reports 3.9 percent rise in first half profit

(Reuters) - British business supplies distributor Bunzl's (L:BNZL) first-half profit rose 3.9 percent, driven by gains from recent acquisitions. The group, which supplies everything from disposable tableware and personal protection equipment to cleaning chemicals, on Tuesday also announced its first acquisition in Norway, of a catering equipment supplier. It gave no deal value. Bunzl's adjusted profit before tax rose to 257.9 million pounds ($328.9 million) in the six months ended June 30, fro...
Posted on: Aug 28, 2018 06:43:56 Read More

German antitrust watchdog plans action on Facebook this year

By Douglas Busvine BONN, Germany (Reuters) - Germany's antitrust watchdog expects to take first steps this year in its probe against Facebook (O:FB) after finding that the social media giant abused its market dominance to gather data on people without their knowledge or consent. The probe is being closely watched in Europe amid mounting concerns over leaks of data on tens of millions of Facebook users, as well as the extensive use of targeted ads by foreign powers seeking to influence election...
Posted on: Aug 27, 2018 15:01:58 Read More

Turkish lira slides 3 percent as markets reopen, eyes on U.S. stand-off

By Daren Butler and Behiye Selin Taner ISTANBUL (Reuters) - The Turkish lira weakened 3 percent against the dollar on Monday after a week-long holiday, hit by persisting concern about a diplomatic rift with Washington over a detained U.S. pastor. The slide as local trading resumed left the lira down 38 percent lira this year, driven by worries over President Tayyip Erdogan's grip on monetary policy and the stand-off with the United States over the fate of evangelical Christian Andrew Brunson. ...
Posted on: Aug 27, 2018 09:40:22 Read More

Saudi Arabia to apply for $12 billion loan after Aramco IPO stalls - FT

(Reuters) - Saudi Arabia's sovereign fund is set to borrow up to $12 billion (£9.4 billion) from international banks after IPO plans for state energy group Saudi Aramco were put on hold, the Financial Times reported, citing sources. Reuters on Wednesday reported that Saudi Arabia had called off its plans for listing the oil giant as the country shifts its attention to a proposed stake in local petrochemicals maker Saudi Basic Industries Corp. Almost 16 banks are expected to participate i...
Posted on: Aug 23, 2018 14:37:19 Read More

Oil slips as trade spat escalates; but crude stock decline supports U.S. crude

By Henning Gloystein SINGAPORE (Reuters) - Oil prices slipped on Thursday, weighed down by the escalating trade dispute between the United States and China, although a decline in U.S. commercial crude inventories offered some support. International benchmark Brent crude oil futures (LCOc1) were at $74.54 per barrel at 0647 GMT, down 24 cents, or 0.3 percent, from their last close. West Texas Intermediate (WTI) crude futures (CLc1) were at $67.80 per barrel, down 6 cents from their last settle...
Posted on: Aug 23, 2018 07:46:21 Read More

Stocks - Target, La-Z-Boy, Urban Outfitters Soar in Pre-market; Lowe’s Slides

Investing.com - Stocks in focus in pre-market trade Wednesday: • Target (NYSE:TGT) stock soared 6.03% by 8:02 AM ET (12:02 GMT) as its second-quarter revenue, earnings and same-store sales beat consensus and the company raised its full-year guidance. • Lowe’s (NYSE:LOW) stock sank 2.78% as the company cut its full-year profit and sales forecast. • La-Z-Boy (NYSE:LZB) stock surged 17.54% after the company reported quarterly results that topped...
Posted on: Aug 22, 2018 15:00:21 Read More

Forex - Dollar Edges Higher with Trade, Political Risk in Focus

Investing.com - The dollar edged higher against a basket of the other major currencies on Wednesday as investors awaited the outcome of trade talks between China and the U.S. this week and monitored growing political risks in the U.S. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, edged up 0.13% to 95.26 by 04:03 AM ET (08:03 AM GMT) after falling 0.69% the previous day. Market sentiment has been boosted by the revival of tra...
Posted on: Aug 22, 2018 12:06:20 Read More

Linde-Praxair merger hits antitrust hurdle; talks continue

FRANKFURT/MUNICH (Reuters) - Linde (DE:LIN1) warned that divestments needed to secure approval for its planned tie-up with Praxair (N:PX) have reached a size that would allow either party to abandon the deal, but added it was in constructive talks to salvage the $83 billion (65.08 billion pounds)merger. The industrial gases suppliers earlier agreed that if antitrust regulators demanded the disposal of businesses with more than 3.7 billion euros ($4.3 billion) in sales, or 1.1 billion euros in e...
Posted on: Aug 22, 2018 07:13:58 Read More

Asian stocks up on hopes trade tensions ease, Trump comments hit dollar

By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks rose on Tuesday, supported by hopes Beijing and Washington would dial back trade hostilities, though comments from the U.S. president about the yuan and Federal Reserve policy capped gains and weighed on the dollar. Spreadbetters expected European stocks to open slightly lower, with Britain's FTSEdipping 0.25 percent, Germany's DAX shedding 0.05 percent and France's CAClosing 0.1 percent. In an interview with Reuters on M...
Posted on: Aug 21, 2018 07:25:03 Read More