amwalalghad :: World

Your English Portal To Arab Economy

Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        National Real Estate Bank for    11.84        Egyptian Chemical Industries (   7.26        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        Cairo Poultry   8.32        ARAB POLVARA SPINNING & WEAVIN   2.11        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Money Markets - World

Amwal Al Ghad English - 2018-04-26 06:29:42
Asian markets were mixed in late morning trade on Thursday, following modest gains on Wall Street, where the Dow closed higher for the first time in six sessions. In Japan, the Nikkei 225 added 0.59 percent, while the Topix traded near flat. Across the Korean Strait, the Kospi was up 1.39 percent. But Greater China markets were down in late morning trade. The Shanghai composite lost 1 percent and the Shenzhen composite shed 1.34 percent, with losses seen in most sectors including banks, property and autos. Hong Kong's Hang Seng Index slid 0.62 percent, with declines in banks and tech. Australia's ASX 200 was near flat after the market was closed on Wednesday for a public holiday. The heavily-weighted financial sector was down 0.55 percent and major banking stocks fell — shares of Westpac fell 1.51 percent while ANZ was down 0.55 percent, Commonwealth Bank was down 0.65 percent and the National Australia Bank lost 0.41 percent. In earnings news, South Korean tech giant Samsung announced first quarter results. The largest smartphone vendor posted an operating profit of 15.64 trillion Korean won ($14.45 billion) for the three months ended March — in line with an earlier estimate and a 58 percent on-year jump. Samsung's consolidated revenue came in at 60.56 trillion won. The company said its first-quarter revenue was mainly driven by its memory chips business and the increased sales of its flagship smartphones such as the Galaxy S9. Overnight, U.S. government debt yields continued their upward climb with the rate on the 10-year Treasury note edging above the 3 percent it hit Tuesday for the first time since 2014. "This has supported a further rise in the U.S. dollar with the narrow [dollar index] now above 91 and so above the range in which it has been confined since mid-January," Ray Attrill, head of foreign-exchange strategy at the National Australia Bank, wrote in a morning note. The dollar index measures the greenback against a basket of major currencies. It last traded at 91.173 as of 8:23 a.m. HK/SIN, climbing from levels below 90.600 earlier in the week. Elsewhere, the Japanese yen traded at 109.32 against the dollar, weakening from levels below 108.0 reached in the previous week. The Australian dollar traded at $0.7571 while the euro fetched $1.2171. Oil rose overnight despite data showing a rise in U.S. inventories as traders turned their attention toward geopolitical developments. "Oil prices rose as traders focused on French President [Emmanuel] Macron's attempts to broker a new nuclear agreement between the U.S. and Iran," David Plank from ANZ Research wrote in a morning note. U.S. crude gained 35 cents to $68.05 a barrel while global benchmark Brent added 14 cents to $74. In other news, major companies in Japan, China and South Korea are set to announce their quarterly earnings. That includes Nintendo and China Construction Bank. More»
Amwal Al Ghad English - 2018-04-26 06:29:12
European markets are expected to rise at Thursday's open as earnings season helps offset concerns surrounding rising yields in the U.S. The FTSE 100 is seen rising 13 points at 7,393, the CAC is expected to open 26 points higher at 5,440, while the DAX is poised to start the day up 66 points at 12,488, according to IG. While earnings season is keeping investors busy across markets worldwide, another topic that's been taking up space in investors' minds is that of rising yields. On Tuesday, the U.S. 10-year treasury yield topped 3 percent and continued to extend gains on Wednesday. Investors around the world have been fixated on the 10-year note yield as of late, with concerns looming that hitting the 3 percent barrier could trigger a reaction from financial markets both in the U.S. and internationally. While breaking the psychological barrier did initially trigger a negative reaction from markets on Wednesday, indexes have since shown signs of bouncing back. In the U.S., stocks finished mostly higher on the back of positive earnings, while in Asia, markets were relatively mixed. With yields rising, market participants are wondering what this will mean for the global economy, with many expecting this to mean higher interest rates from central banks. Switching focus to Thursday's session, a slew of earnings are due to be published throughout the day. Nokia, Orange, Total, Deutsche Bank, Lufthansa, Volkswagen, Fiat Chrysler, Banco de Sabadell, Roche, Shell, Barclays, Shire, and Taylor Wimpey are all slated to release financial updates. But earnings season wasn't the only dish on the menu for markets on Thursday. During Europe's session, investors will be turning their attention to Frankfurt, where the European Central Bank (ECB) is due to announce its latest monetary policy decisions, followed by a press conference. While the ECB is expected to hold steady on its current monetary policies, investors will be paying close attention to the press conference where President Mario Draghi is expected to deliver remarks on the current economic state of the euro zone. Other topics that Draghi may touch upon include the bond market, trade, economic data, and the euro. The central bank's rate decision is scheduled for 12:45 a.m. London Time (7:45 a.m. ET), followed by the conference due to begin at 1:30 p.m. London time (8:30 a.m. ET). In the latest surrounding politics, French President Emmanuel Macron called upon the U.S. to engage more with the rest of the world and to combat nationalism. The European leader also went onto say that, while not perfect, the Iran nuclear deal must remain intact until a replacement is established; Reuters reported. Now attention will turn to Germany, as Chancellor Angela Merkel is set to head to the States this week. No major economic data out of Europe is scheduled for Thursday's session. More»
Amwal Al Ghad English - 2018-04-25 07:16:36
Markets in Asia traded lower on Wednesday, following an overnight drop in U.S. stocks as investors worried about rising interest rates and the outlook of the economy. Japan's Nikkei 225 fell 0.58 percent while the Topix index was down 0.39 percent. Shares of Takeda Pharmaceutical fell 6.18 percent after news emerged that the company increased its acquisition offer for London-listed drugmaker Shire, to about 46 billion pounds ($64 billion). In South Korea, the Kospi declined 0.96 percent. Hong Kong's Hang Seng index fell 0.82 percent. Chinese mainland markets were also lower with the Shanghai composite declining by 0.31 percent and the Shenzhen composite was near flat. Australia and New Zealand markets are shut for the Anzac day public holiday. "Risk off sentiment heightened after the 10-year U.S. Treasury yield touched 3 [percent] handle for the first time since Jan. 2014," analysts at Singapore's OCBC Bank wrote in a morning note. "The normalization of U.S. yield at a faster than expected pace raised the concern about equity valuation, which led to increasing market volatility," they wrote. The analysts added that the recent dollar surge paused despite investors trying to "re-establish the correlation between dollar and higher yields." The dollar index, which measures the greenback against a basket of currencies, traded at 90.841 as of 11:24 a.m. HK/SIN. The index rose from levels below 90.00 reached in the previous week and briefly crossed the 91.00 level in the Tuesday session. The Japanese yen traded at 108.9 to the dollar while the euro fetched $1.2228. Oil prices fell overnight as concerns that the U.S. might reinstate sanctions against Iran faded. President Donald Trump on Tuesday said that the U.S. could soon reach an agreement with France that would preserve the 2015 Iran nuclear deal. Trump made his comments during a news conference with French President Emmanuel Macron, who is trying to dissuade his American counterpart from pulling out of the accord. Still, Eurasia Group analysts said in a note that it did not change their "overall call that the Iran nuclear deal has a 65 [percent] probability of collapsing during Trump's first term." But many analysts also believe that an oil market slump which started in 2014 has ended and that a sustained price rally is likely due to supply disruptions and strong demand from Asia, according to Reuters. On Wednesday during Asian hours, oil prices were near flat — U.S. crude traded near flat at $67.69 and global benchmark Brent was at $73.90 per barrel. More»
Amwal Al Ghad English - 2018-04-25 06:57:08
European markets are expected to fall into the red Wednesday, as rising yields in the U.S. offset excitement surrounding corporate earnings. The FTSE 100 is seen slipping 58 points at 7,368, the CAC is expected to open 53 points lower at 5,392, while the DAX is poised to start the day down 129 points at 12,422, according to IG. Global markets have been jittery over the last 24 hours, after the U.S. 10-year Treasury yield topped 3 percent on Tuesday — the first time it has done in more than four years. Investors around the world have been fixated on the 10-year note, with concerns looming that hitting the 3 percent barrier could trigger a reaction from financial markets both in the U.S. and internationally. Investors have also been selling Treasurys in April amid expectations of rising inflation, which could push the U.S. central bank to tighten monetary policy faster. Consequently markets have come under severe pressure after this psychological level was cracked, with the Dow sinking more than 400 points by the U.S. close on Tuesday, and markets in Asia tumbling on Wednesday. Aside from moves in the bond market, Wednesday's session will be filled with a brand-new batch of corporate earnings. Novozymes, Valeo, Dassault Systemes, Linde, Deutsche Boerse, Norsk Hydro, GSK, Fresnillo, Antofagasta, Persimmon, and Whitbread are just a handful of businesses slated to publish their latest financial updates. Statoil and Credit Suisse have both released earnings before the market open. Sticking with the corporate space, the board of biotech firm Shire has announced that it had received a revised acquisition proposal of £46 billion ($64 billion) from Takeda Pharmaceutical Company. In a statement, the Irish group said it was willing to recommend this revised offer to its shareholders. Looking to politics, President Donald Trump and French President Emmanuel Macron vowed to strive for stronger measures on Iran, in regards to the nuclear deal established in 2015. The U.S. leader also revealed on Tuesday that NAFTA talks could be agreed on quickly, and showed positivity on the country's relationship with North Korea, saying that the Asian leader Kim Jong Un had been "very honorable" and wanted to hold a summit soon; Reuters reported. Investors will also be keeping a close eye on oil, after Brent crude hit its highest since late 2014 earlier this week. Oil prices have since come off those highs, but remain relatively stable. No major economic data out of Europe are scheduled for Wednesday's session. More»
Amwal Al Ghad English - 2018-04-24 06:49:54
Asian markets mostly rose in morning trade on Tuesday despite the Dow and the Nasdaq stumbling amid a decline in tech shares. In Australia, the ASX 200 climbed 0.39 percent, with most sectors notching gains. The heavily weighted financial sector gained 0.86 percent as major banking names in the country rose. Shares of ANZ were up 0.59 percent, Commonwealth Bank was up 1.22 percent, Westpac was higher by 1.28 percent and the National Australia Bank added 0.97 percent. Major miners in Australia, however, were down — Rio Tinto shares fell 1.98 percent, Fortescue was lower by 3.31 percent and BHP Billiton lost 0.35 percent. Japan's Nikkei 225 was up 0.67 percent while the Topix index gained 0.73 percent. Across the Korean Strait, the Kospi fell 0.22 percent. In Hong Kong, the Hang Seng index rose 0.96 percent. Chinese mainland shares were also higher; the Shanghai composite was up 1.4 percent and the Shenzhen composite added 1.01 percent. Analysts at Singapore's OCBC bank wrote in a morning note that market sentiment overnight was affected by "multiple factors including higher yields, mixed earnings, still solid U.S. growth data and eased sanctions on Russian aluminum producer Rusal." Further strength in the U.S. dollar also marked the overnight session, according to David de Garis, director for economics and markets at the National Australia Bank. "The dollar has been on a further tear, taking up in Europe where the trading mood ended last week," he wrote in a morning note. The dollar index, which measures the greenback against a basket of currencies, traded at 90.997 at 10:04 a.m. HK/SIN, up from levels below 89.500 in the previous week. The index had "been testing its highs for this year seen in the earlier part of January," de Garis said. "It's been a yield driven story, with rises in U.S. yields along the curve." He added that the market was pricing toward three rate hikes from the U.S. Federal Reserve this year. In currency pairs, the Japanese yen traded at 108.8 to the dollar, and the Australian dollar fetched $0.7602 as of 10:04 a.m. HK/SIN, declining from levels above $0.777 in the previous week. Elsewhere, oil prices rose during the Asian session on Tuesday, with U.S. crude climbing 0.38 percent to $69.9 a barrel. Global benchmark Brent was up 0.27 percent at $74.91. "Crude prices are now sitting at the highest levels in three years, reflecting ongoing concerns around geopolitical tensions in the Middle East, which is the source of nearly half of the world's oil supply," Giulia Specchia from ANZ Research wrote in a morning note. Higher energy prices were also supported by a decline in inventories at the Cushing, Oklahoma storage hub for U.S. crude, according to Reuters. More»
Amwal Al Ghad English - 2018-04-24 06:22:51
European markets are set to post modest gains at Tuesday's open as investors await the latest deluge of corporate earnings. The FTSE 100 is seen up around 14 points at 7,413, the CAC is expected to open 8 points higher at 5,447, while the DAX is poised to start 32 points up at 12,604, according to IG. Looking to today's trading session in Europe, earnings season continues to deliver a fresh cluster of financial updates from leading businesses. Kering, SAP, Telecom Italia, AkzoNobel, Randstad, Santander, Volvo Group, Swedbank, Anglo American, Shire and the London Stock Exchange are just a handful of those slated to publish results. In markets overseas, stocks in Asia ticked higher during Tuesday's session despite a weak trading day on Wall Street, as investors kept a close eye on the U.S. bond market. On Monday, the yield on the 10-year Treasury note hit 2.99 percent, its highest level since January 2014. The yield was flirting with the key psychological 3 percent level, which could trigger a reaction from markets across the globe; however, the yield has since come off its highs. Investors have been selling Treasurys in April, consequently pushing yields up, amid beliefs of rising inflation, which may encourage the U.S. central bank to tighten monetary policy more rapidly. Another market topic keeping investors busy is the oil market. On Tuesday, Brent crude rose for the sixth day on expectations that supplies will tighten. Ahead of Europe's open, Brent dipped below $75, while U.S. crude was close to the $69 per barrel mark. Elsewhere, investors will be paying attention to any news out of the political space as French President Emmanuel Macron continues his state visit to the U.S., where he is currently meeting President Donald Trump. While security, trade and economic growth are expected to remain at the forefront of discussions, another topic that hangs in the balance is that of the Iran nuclear deal. Over the weekend, Macron said that there was no "Plan B" for keeping a lid on the country's nuclear objectives; Reuters reported. Looking to economic data, the Ifo Business Climate Index for Germany is scheduled to be released in early market trade. More»
Amwal Al Ghad English - 2018-04-23 06:53:35
Asian stocks traded mostly lower on Monday, as investors kept an eye on rising U.S. Treasury yields and digested declines in technology stocks seen stateside. The Nikkei 225 shed 0.28 percent while the broader Topix was flat. Among sectors, insurers, banks and shippers traded in positive territory, while technology was a mixed bag. Elsewhere, the Kospi was off by 0.19 percent, with automakers and retailers declining as steelmakers climbed. In Australia, the S&P/ASX 200 advanced 0.41 percent as the financials subindex and gold producers led gains on the index. Greater China markets reversed earlier gains, with the Shanghai composite slipping 0.11 percent and the Shenzhen composite declining 0.75 percent. Hong Kong's Hang Seng Index eased 0.36 percent as slight gains in financials were erased by losses in the technology sector. The subdued performance in Asia followed declines in U.S. stock indexes on Friday amid a fall in Apple shares, which pushed the technology sector lower. Apple tumbled 4.1 percent following a Morgan Stanley note said iPhone sales in the June quarter would miss expectations. More»
Amwal Al Ghad English - 2018-04-23 06:42:29
European markets are set to open Monday's session on a positive note as investors gear up for the latest in corporate earnings, while keeping an eye on geopolitics and oil. The FTSE 100 is seen opening up around 14 points at 7,375, the CAC is expected to open 18 points higher at 5,423, while the DAX is poised to start 28 points higher at 12,565, according to IG. Looking to Europe's trading day, a slew of corporate earnings are due to be published including AMS, Michelin, and Tele2. Early Monday, Swiss bank UBS reported better-than-expected first quarter earnings with net profit up 19 percent. Philips has also released its first quarter earnings, with sales coming in at 3.9 billion euros ($4.79 billion). When it comes to economic data, purchasing managers' index (PMI) data out of France, Germany and the euro zone are expected to keep investors on their toes during the start of the trading day. In markets overseas, stocks in Asia came under pressure during Monday's session as investors kept a close eye on the U.S. bond market. On Friday, the yield on the 10-year Treasury note hit 2.96 percent, its highest level since January 2014, while the two-year yield rose to its highest level since September 2008. Another area of the market that is keeping investors on edge is oil prices. While crude futures dipped during Monday's session, markets remained supported by strong demand. Prior to the open, prices were relatively flat with Brent hovering above $74 and U.S. WTI wavering around $68.30. Another topic expected to keep investors busy concerns geopolitics. On Saturday, North Korea pledged to halt nuclear and missile tests, with the nation adding that it would be scrapping its nuclear test site in order to pursue peace and economic growth instead. President Donald Trump tweeted on Sunday, however, that the North Korean nuclear crisis was far from resolved. Consequently, the topics of North Korea, global trade and the Iran deal will be of key importance when Trump meets with both German Chancellor Angela Merkel and French President Emmanuel Macron in separate meetings this week. More»
Amwal Al Ghad English - 2018-04-21 06:12:36
Negativity on Wall Street flowed through to Asian markets on Friday, with regional stock indexes ending the day moderately lower amid declines in the technology sector. The Nikkei 225 slipped 0.13 percent, or 28.94 points, to end at 22,162.24 as semiconductor companies declined while financials and utilities mostly rose. South Korea's benchmark Kospi index edged down by 0.39 percent to 2,476.33 and Australia's S&P/ASX 200 finished the day lower by 0.21 percent at 5,868.80. Greater China markets also recorded declines, with Hong Kong's Hang Seng Index shedding 0.67 percent by 3:00 p.m. HK/SIN. Mainland markets saw steeper falls, with the Shanghai composite losing 1.47 percent to close at 3,071.47 and the Shenzhen composite lost 2 percent to end at 1,778.34. Losses on Friday were broad-based, with airline, automakers and financials taking a hit. Semiconductor companies in the region traded lower after Taiwan Semiconductor Manufacturing (TSMC), the largest contract chipmaker in the world, said Thursday it was forecasting second-quarter revenue to come in between $7.8 billion and $7.9 billion, below a Wall Street estimate of $8.8 billion. Morgan Stanley attributed TSMC's weak guidance to order reductions from Apple iPhone processors. On Friday, TSMC shares tumbled 6.34 percent, dragging Taiwan's Taiex lower by 1.75 percent. In Japan, Tokyo Electron and Advantest declined 2.05 percent and 2.21 percent, respectively. Meanwhile, South Korea's Samsung Electronic slid 2.2 percent and chipmaker SK Hynix tumbled 3.98 percent. U.S. stocks closed moderately lower on Thursday, with the technology sector coming under pressure following TSMC's weak guidance. Apple, for which TSMC is a supplier, fell 2.8 percent amid declines in other U.S. semiconductor stocks. Investors also focused on higher U.S. bond yields as the yield on the 10-year U.S. Treasury note stayedabove the 2.9 percent level. The two-year yield traded near its highest levels in almost a decade. "There's somewhat of a short attention span, with markets looking past [trade tensions], with the beige book and some of the data coming out just showing the U.S. to be relatively healthy. That might be impacting the yield curve more so than simmering trade tensions," Alex Wolf, senior emerging markets economist at Aberdeen Standard Investments, told CNBC's "Squawk Box." In currencies, the dollar firmed as U.S. bond yields rose. The dollar index, which tracks the greenback against a basket of six currencies, stood at 89.985. Against the yen, the dollar strengthened to trade at 107.51 at 2:41 p.m. HK/SIN. The British pound was on the back foot after Bank of England Governor Mark Carney downplayed the possibility of a May interest rate hike. The currency traded around two-week lows at $1.4057. Oil prices were steady on Friday. U.S. West Texas Intermediate crude was off by 0.19 percent at $68.16 per barrel, after touching a more than three-year high in the last session. Brent crude futures were little changed at $73.77 per barrel. Among individual movers, shares of Australia's AMP closed down 0.46 percent. It said CEO Craig Meller would step down immediately following the company's testimony at an Australian inquiry. AMP apologized for "misconduct and failures in regulator disclosures." Elsewhere, China Huarong Asset Management tumbled 10.69 percent by 2:55 p.m. HK/SIN after the company said its chairman, currently being investigated by the state, had stepped down from its board. Also of note, shares of Takeda Pharmaceutical dropped 4.67 percent after news on Thursday that U.K. drugmaker Shire had declined the Japanese company's acquisition offer. More»
Amwal Al Ghad English - 2018-04-21 05:54:11
European equities finished Friday's session relatively flat, as investors digested a fresh batch of corporate earnings, while keeping an eye on market movements overseas. The pan-European STOXX 600 closed down 0.03 percent, while sectors ended the day mostly lower. Major bourses showed a mixed picture by the close. The U.K.'s FTSE 100 closed up 0.54 percent, while France's CAC 40 rose 0.39 percent. Germany's DAX, however, closed down 0.21 percent. On the week, the STOXX 600 provisionally closed up 0.7 percent. This positive overall weekly result marks the fourth straight week of gains as global markets recovered from a turbulent start to the year. Heightened concerns over the prospect of a trade war, faster rate hikes in the U.S. and a regulatory crackdown on big tech companies had pushed the STOXX to 14-month lows last month. On Friday, tech firm Ericsson reported smaller-than-expected losses during the first three months of the year. Shares consequently finished at the top of Europe's benchmarks, soaring 17.5 percent on the news. Shortly behind Ericsson's lead was Telia, which closed up 8.6 percent, after the Nordics telecoms group announced a share buyback plan as first-quarter earnings beat expectations. Telecoms as a whole was the region's top performing sector, jumping 1.04 percent. Reckitt Benckiser shares pared some of its losses, closing down 2.78 percent after its sales growth missed estimates for its first quarter. Meantime, ASM International slipped lower, down almost 8.5 percent, after reporting earnings late Thursday. The firm saw net sales for 2018's first quarter come in at 159 million euros ($195.7 million) — a decrease of 12 percent, compared to the previous quarter. Shares of Air France KLM dropped 2.5 percent, after the airline said it was launching a consultation with staff members, to find an end to a strike over pay. To date, the dispute has cost over 220 million euros. Elsewhere, U.K. regulators have concluded their investigations into Barclays and its CEO Jes Staley. While the FCA and PRA won't take enforcement action against the bank, it is now required to report to the regulators on aspects of their whistle-blowing programs. Staley will also be fined for attempting to unmask a whistleblower. Shares of the bank finished modestly higher. In the States, U.S. stocks fell deep into the redaround Europe's close, as further declines in Apple saw the tech sector extend losses. On Friday, it emerged that the Democratic Party was suing President Donald Trump's presidential campaign, the Russian government and Wikileaks, claiming a broad conspiracy to disrupt the election in 2016. In Asia, equities finished the session lower after the world's largest chipmaker delivered a disappointing forecast late Thursday. Taiwan Semiconductor Manufacturing slashed its revenue target to the lower end of forecast, citing weaker-than-expected demand for smartphones. Elsewhere, oil prices hovered close to multi-year highs after climbing to their highest level since late 2014 on Thursday. International benchmark Brent crude came off its lows by Europe's close, trading at $73.44. Prices remain supported by a drawdown in global supply as OPEC kingpin Saudi Arabia appeared poised to increase its export revenue. More»