amwalalghad :: World

Your English Portal To Arab Economy

GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        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        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        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        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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 - 2017-11-20 06:44:23
Asian markets were mostly lower on Monday, following a decline in U.S. equities last Friday on lingering concerns about American tax reform. Japan's Nikkei 225 was down 0.52 percent, while the Topix index fell 0.16 percent. In South Korea, the Kospi gave up early morning gains to trade fractionally lower at 2,532.91. Chinese markets traded lower, with the Shanghai composite down 0.87 percent while the Shenzhen composite fell 0.5 percent. In Hong Kong, the Hang Seng index traded down 0.14 percent. One focus for investors: Analysts were cautiously optimistic about the U.S. tax reform getting done this year. Treasury Secretary Steven Mnuchin told CNBC's "Squawk Box" on Friday that he expects a Republican tax reform bill to be sent to President Donald Trump by Christmas. Mnuchin made his comments a day after the House passed a bill aimed at overhauling the tax code. The Senate now has to vote on its version of a tax plan. One commentator told CNBC on Monday that he was advising investors to not make any investment decisions until there was more clarity on the tax reform. More»
Amwal Al Ghad English - 2017-11-20 06:39:19
European bourses are set to open lower on Monday morning after preliminary coalition talks in Germany collapsed. The FTSE 100 is seen lower by 11 points at 7,369; the German DAX is expected to open 81 points lower at 12,911 and the CAC 40 is seen down by 25 points at 5,288, according to IG. In Asia, equities were mostly lower on growing doubts over U.S. plans to update the tax system. The euro was trading 0.5 percent lower against the dollar and 0.58 percent lower against the yen at about 4:30 a.m. London time. The currency was under pressure following news that Chancellor Angela Merkel failed to reach an agreement with two other political parties to form a new government. The FDP pulled out of the talks citing irreconcilable differences. Merkel is now to consult with the German president on what to do next, but it's possible that new elections could be called. In corporate news, the Swiss private bank Julius Baer is due to report interim results on Monday morning and William Hill in the U.K. will release its latest quarterly figures. UBS, Royal Bank of Scotland, JPMorgan Chase, Citigroup, Barclays, HSBC and two other banks are reportedly willing to negotiate settlements with European regulators, likely to cost billions of euros combined, after a four-year probe into rigging in the forex market, the Financial Times reported. Meanwhile in the U.K., Finance Minister Philip Hammond, who is due to present the next budget Wednesday, promised to advance housebuilding in the country. More»
Amwal Al Ghad English - 2017-11-18 07:01:02
European shares failed to end Friday's trading day on a positive note, closing slightly lower, as investors digested new trading updates and followed the moves seen in markets Stateside. The pan-European Stoxx 600 fell 0.29 percent by the close provisionally, off its session lows. On the week, the STOXX 600 closed sharply down, off 1.26 percent. The majority of sectors closed in the red, with positive sentiment capped by weakness seen in markets Stateside. Major European bourses closed slightly lower, with the U.K.'s FTSE 100 ending down 0.08 percent, while France's CAC 40 and Germany's DAX fell further, off 0.32 percent and 0.41 percent respectively. Retail stocks were one of the worst performers Friday, ending down by 0.65 percent as a sector, after several rating updates. In particular, H&M fell 2.76 percent after a rating downgrade by SEB to a "sell" from a "hold". And Inditex dropped 1.64 percent after Berenberg cut the stock to "sell" from "hold". Analysts have raised concerns over the increasing competition from online shopping. Meanwhile the utilities sector fell 1.37 percent, with United Utilities Group tumbling over 4 percent, after HSBC slashed its target price and rating on the stock. On the other hand, media stocks were among the best performers on news of potential mergers. Sky rose 4.1 percent, making it one of the top performers in Europe, boosted by the news that Comcast, parent company of CNBC, and Verizon said they are interested in buying certain parts of 21st Century Fox. Sticking with the sector, Vivendi jumped 4.4 percent, after a strong performance from the media group's music arm UMG and Canal Plus division in its third-quarter results. Looking at individual stocks, Bollore sped ahead, up 3.59 percent after a target price increase. Shares of construction and support services provider Carillion sank by over 48 percent by the close, after it issued its third profit warning of the year. Shares had initially tanked as much as 60 percent at the start of today's trade. Meanwhile, shares of Elior slumped over 18 percent after a profit warning. The stock was at the bottom of the STOXX 600. In other corporate news, Alitalia said Thursday that it has met with members of Lufthansa. According to Reuters, Alitalia said that media reports over a deal with Lufthansa were "groundless". Oil rose sharply by Europe's close, with Brent trading at $62.41 per barrel, while WTI hovered at $56.35. This came after a turbulent week for prices in the energy market. In terms of data, euro zone current account numbers showed a bigger surplus in September to 37.8 billion euros ($44.51 billion). Market players were also digesting remarks by European Central Bank President Mario Draghi. He told an audience in Frankfurt that the ECB needs to be patient when normalizing monetary policy. This is because despite the improved economic growth in the 19-member area, inflation remains subdued. Switching focus to the U.S., Treasury Secretary Steven Mnuchin told CNBC Friday that he foresaw a Republican tax reform bill to be sent to Donald Trump by the end of the year. Mnuchin's comments come just a day after the House passed a bill aimed at overhauling the tax code. Concerns about tax reform continue to shake up sentiment on Wall Street, which has slightly impacted sentiment in Europe. Meanwhile, Germany drags on with coalition talks as disagreements over climate, migration and finances remain between the three parties, Reuters reported. More»
Amwal Al Ghad English - 2017-11-16 05:45:12
European equities came off their session lows, yet failed to end Wednesday's trade on a positive note, as market sentiment was hit by a downturn in commodity stocks and prices. After falling more than 1 percent in earlier trade, the pan-European STOXX 600 pared losses to close down 0.49 percent provisionally. Looking to bourses, the U.K.'s FTSE 100 ended down 0.56 percent, while France's CAC 40 dipped 0.27 percent and Germany's DAX fell 0.44 percent. Meanwhile, the majority of sectors finished the session in the red. Weak performance from markets in Asia and in the U.S. also weighed on performance in Europe. Basic resources was one of Europe's biggest sectoral losers, as lower-than-expected retail sales and industrial production figures seen Tuesday and a decline in metal prices seen Wednesday impacted trade. Copper producer Aurubis fell 4 percent. Oil and gas meanwhile sank 1.49 percent due to weaker oil prices. While Brent and WTI crude came off session lows, prices were still in negative territory by the European market close. This drop came after a report from the International Energy Agency which projected lower oil demand for this year and the next, and news that U.S. crude stockpiles had risen by 1.9 million barrels. Looking at individual stocks, Barratt Developments fell over 1 percent despite announcing an increase in total forward sales of 8.4 percent and stating that it was confident that it would deliver a good operating performance in the 2018 financial year. The German rubber maker Lanxess fell over 3 percent after reporting a third quarter net profit lower than a year ago. Meanwhile, potash miner K+S sank over 5 percent, after its operating profit and third quarter revenue failed to meet market expectations. On the other hand, Airbus popped 2.35 percent after receiving a 430 airplane order from Indigo Partners. Cobham rose over 3.5 percent before paring gains to close up 2.36, after it issued a trading statement saying its performance for this year remained "unchanged". In other corporate news, Volkswagen said that tax authorities and prosecutors raided the offices of the company's chief financial officer, head of HR, and chairman on Tuesday. Some files and computers were seized, according to Reuters. Shares closed lower. Telecoms outperformed fellow sectors, closing up 0.55 percent, with Altice leading the way, after Bryan Garnier put a "buy" rating on the stock, and the company tried to soothe sentiment by stating that it was shifting focus to reducing its net debt, from acquisitions, Reuters reported. Altice rose 8 percent by Europe's close. In terms of data, employment in the U.K. fell by the most it has in more than two years during July to September, a sign that a Brexit slowdown could be having an effect on U.K. job creation, Reuters reported. More»
Amwal Al Ghad English - 2017-11-16 05:37:52
Asian equities shrugged off the softer lead from Wall Street to climb moderately higher on Thursday. The Nikkei 225 rose 0.84 percent to snap a six-day losing streak as financials, retailers and most tech names rose. Fast Retailing added 1.31 percent, Nintendo gained 3.2 percent and SoftBank advanced 1.47 percent. Energy-related plays traded mixed. South Korea's benchmark Kospi index tacked on 0.46 percent. Blue-chip tech names and manufacturing stocks were mostly higher, with Samsung Electronics advancing 0.87 percent. Energy-related stocks also climbed as refinery company S-Oil rose 1.28 percent. Down Under, the S&P/ASX 200 edged up 0.15 percent as the heavily-weighted banking sub-index stood little changed in the morning. The energy sub-index climbed 1.77 percent after taking a beating earlier in the week following the declines in oil prices. The positive sentiment was also mirrored in greater China markets. The Hang Seng Index rose 0.53 percent. On the mainland, the Shanghai Composite reversed early gains to slip 0.1 percent and the Shenzhen Composite rose 0.2 percent. Stateside, equities finished the Wednesday session lower as declines in oil prices weighed on energy-related stocks. Investors also focused on the likelihood of proposed tax reforms getting passed before year-end. The Dow Jones industrial average lost 138.19 points, or 0.59 percent, to close at 23,271.28 — its lowest finish in more than three weeks. More»
Amwal Al Ghad English - 2017-11-15 09:15:29
European stock markets were lower during Wednesday morning as market sentiment was hit by weaker oil prices. The pan-European Stoxx 600 was 0.33 percent lower with most sectors in negative territory. Basic resources were the top losers in early deals impacted by lower-than-expected retail sales and industrial production figures on Tuesday. The oil and gas sector followed closely, down by more than 1.3 percent on weaker oil prices. Brent was lower by 0.9 percent trading at $61.64 a barrel and WTI fell 0.95 percent to $55.18 at about 08:10 London time. This was after a report from the International Energy Agency which projected lower oil demand for this year and the next. Looking at individual stocks, Barratt Developments dropped slightly in early trade after announcing an increase in total forward sales of 8.4 percent. The U.K. housebuilder also said that it was confident of delivering a good operating performance in the 2018 financial year. The German rubber maker Lanxess fell nearly 5 percent after reporting a third quarter net profit lower than a year ago. On the other hand, Airbus was among the top performers up by 3 percent after receiving a 430 airplane order from Indigo Partners. In other corporate news, Volkswagen said that tax authorities and prosecutors raided the offices of the company's chief financial officer, head of HR, and chairman on Tuesday. Some files and computers were seized, according to Reuters. Shares of the carmaker were lower by 0.7 percent. In terms of data, consumer prices in France increased 1.2 percent in October on a yearly basis and 0.1 percent on a monthly basis, in line with flash numbers. There will be unemployment figures out in the U.K. at 09:30 a.m. and trade numbers for the euro zone due at 10 a.m. More»
Amwal Al Ghad English - 2017-11-15 06:36:01
U.S. stocks fell on Tuesday as shares of General Electric slumped for a second straight day. Concerns about a potential global economic slowdown and U.S. tax reform also dampened investor sentiment. The Dow Jones industrial average declined 30.23 points to close at 23,409.47 as shares of General Electric slumped for a second straight day. The 30-stock index briefly fell more than 150 points. GE shares fell 5.9 percent to their lowest level since 2011 and have fallen more than 12 percent over the past two days. The company unveiled a massive restructuring plan and slashed its dividend by 50 percent at an investor meeting on Monday. CEO John Flannery told CNBC's "Squawk on the Street" he was not surprised by the investor reaction to sell the stock, noting the company disappointed investors. Analysts across Wall Street remained "unsettled" by what they heard as GE's turnaround plan disappointed them. Equities were also pressured by disappointing economic data out of China, which raised concern about the global economy. The S&P 500 declined 0.2 percent to 2,578.87, with energy as the biggest declining sector as oil prices slumped. The Nasdaq composite pulled back 0.3 percent to close at 6,737.87. Chinese data released overnight on retail sales, industrial output and fixed asset investment growth all missed expectations. Asian equity markets closed mostly lower, with the Shanghai composite slipping 0.5 percent. European stocks followed suit, with the broad Stoxx 600 index declining half a percent. More»
Amwal Al Ghad English - 2017-11-15 06:33:17
European stocks finished Tuesday's trading day in negative territory, as a sharp decline in commodities weighed on investor sentiment. The pan-European Stoxx 600 closed down 0.59 percent provisionally, off its session lows, with most sectors ending in the red. Looking to bourses, the U.K.'s FTSE 100 failed to hold onto gains by the close, finishing down 0.01 percent. France's CAC 40 and Germany's DAX, meanwhile, slipped further, down 0.49 percent and 0.31 percent respectively. On the sector front, basic resources tumbled 2.73 percent, making it Europe's worst performer on Tuesday. The sector was weighed down after disappointing data came out of China and metal prices declined. Industrial production, retail sales and fixed asset investment numbers in the world's second-largest economy missed expectations. Several London-listed miners consequently fell to the bottom of the index, with Anglo American, Rio Tinto and Glencore all ending down 2.5 percent or more each. A decline in oil prices and energy stocks also weighed on investor sentiment, with both Brent and WTI falling roughly 2.5 percent by the market close, on the back of further rises in U.S. output. Nonetheless, the main focus in Europe remained on earnings. Telecoms outperformed most sectors, closing up 0.36 percent, with the U.K. telecoms giant Vodafone leading the way, after it raised its full-year earnings growth to around 10 percent from 4-8 percent. The numbers sent the stock to close up over 5 percent. Technology stocks ended in the black, with Simcorp reporting third-quarter results above expectations. The stock rose to the top of the STOXX 600, soaring 10 percent. Tesco rose 6.2 percent after regulators approved its takeover of Booker. Booker Group meanwhile jumped 6.74 percent. On the opposite end of the spectrum, Germany's Henkel warned against difficult conditions in the consumer goods market during their third-quarter results. The stock fell 4.26 percent. Utilities firm RWE announced a 9.3 percent increase in its nine-month core earnings, however the share price slipped 5.56 percent. Altice, meanwhile, sank over 13 percent after a number of brokers cut their price targets and expectations on the telecoms stock. In terms of data, flash gross domestic product figures in Germany showed an expansion driven by exports and investments. GDP was up 0.8 percent in the third quarter from 0.6 percent in the previous quarter. In the U.K., new inflation numbers came in lower-than-expected with consumer prices up 0.1 percent month-on-month and 3 percent year-on-year versus 0.2 and 3.1 percent expected, respectively. Sterling dropped on the data but recovered throughout trade. Overseas, U.S stocks were under pressure around Europe's close, as investors monitored the drop in General Electric shares, while sentiment was also dampened by signs of a potential global economic slowdown due to China's data, and concerns around U.S. tax reform. More»
Amwal Al Ghad English - 2017-11-15 06:29:02
The cautious sentiment from the last session continued through Asia's Wednesday trading day, with energy-related plays in the region falling on weakening oil prices. The Nikkei 225 tumbled 1.28 percent on the back of five consecutive negative sessions. Most sectors fell, with energy-related stocks recording steep losses as oil prices declined further: Inpex tumbled 4.32 percent and Japan Petroleum Exploration sank 4.39 percent. Wednesday data showed the Japanese economy grew at a 1.4 percent annualized rate in the third quarter, topping the 1.3 percent forecast, Reuters reported. GDP rose 0.3 percent in that period, compared to the three months prior. Across the Korean Strait, the Kospi was off 0.24 percent. Blue-chip tech stocks edged down, but automakers held above the flat line: Samsung Electronics slid 0.89 percent and Hyundai Motor rose 0.31 percent. Down Under, the S&P/ASX 200 edged down 0.48 percent, extending losses made in the last session. Energy stocks dragged on the broader market after oil prices declined: Beach Energy tumbled 3.39 percent and Santos lost 2.57 percent. Resource stocks were also in the red after economic data from China on Tuesday missed expectations. Greater China markets came under pressure with Hong Kong's Hang Seng Index off 0.74 percent. Mainland markets were also lower: The Shanghai Composite lost 0.71 percent and the Shenzhen Composite lost 1.27 percent. "Shell's exit from the Woodside register [on Tuesday] proved to be one of the leading catalysts for a bout of profit taking on the Australian stock market," Ric Spooner, chief market analyst at CMC Markets, said in a note. Stateside, equities closed lower in the last session as investors worried about the progress of U.S. tax reforms. The Dow Jones industrial average lost 0.13 percent, or 30.23 points, to close at 23,409.47, as shares of General Electric tumbled for the second consecutive session to close down 5.89 percent. In contrast to a slew of Chinese data points missing forecasts on Tuesday, economic reports released overnight in Europe was more upbeat. The 0.8 percent third-quarter growth print in Germany topped the 0.6 percent forecast in a Reuters poll. In response, the common currency spiked as high as $1.1805 in the last session — its highest levels in almost three weeks. At 12:27 p.m. HK/SIN, the euro traded at $1.1792. "[W]hile the GDP print provided the initial catalyst, the velocity of the move suggests that investors are finally discounting the European Central Bank's dovish guidance in the face of stronger economic data," Stephen Innes, Asia Pacific head of trading at OANDA, said in a note. Elsewhere, U.S. Senate Republicans on Tuesday said their tax plan will involve the repeal of the Obamacare individual mandate that requires most Americans to have some form of health coverage. Markets are concerned about whether or not the tax plans can be passed before the year ends. Investors also awaited the release of U.S. CPI and retail sales data due Wednesday during American hours. Shares of Hon Hai Precision Industry fell 2.83 percent after the company reported that its third-quarter profit slid 39 percent compared to the year before. The fall in quarterly earnings was due to delays in product shipments, Reuters said. One police officer was killed on Wednesday and another injured near Freeport-McMoRan's copper mine in Papua, Indonesia, Reuters said, citing local police. The company had shut the access road to the mine following a shooting incident on Tuesday, Reuters added. That road had been closed just days earlier on Sunday following previous shooting incidents. Japanese banks were also in the spotlight after Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group reported quarterly earnings on Tuesday. Of note, several of Japan's largest banks said they would be cutting costs by reducing headcount or turning to automation, Reuters said. Financials broadly traded lower: MUFG was down 0.93 percent, SMFG fell 1.78 percent and Mizuho Financial lost 1.56 percent. Oil prices extended losses after settling nearly 2 percent lower on Tuesday following a report from the International Energy Agency which reduced its projection for oil demand for this year and the next. U.S. crude fell 1.06 percent to trade at $55.11 per barrel on Wednesday and Brent crude futures lost 1.19 percent to trade at $61.47. The dollar index, which tracks the U.S. currency against six major currencies, was stable after falling overnight on euro strength. The index stood at 93.814 at 12:12 p.m. HK/SIN, compared to levels around the 94 handle seen earlier this week. The Australian dollar touched as low as $0.7573 during the session after data showed wages rose 0.5 percent in the third quarter, below the 0.7 percent expected by markets. The Aussie dollar last traded at $0.7585, compared to levels around the $0.76 handle seen earlier. More»
Amwal Al Ghad English - 2017-11-14 13:46:05
European stocks were under pressure during Tuesday's afternoon trade as investors digested fresh corporate earnings and economic data. The pan-European Stoxx 600 was 0.48 percent lower with most sectors moving into negative territory. Looking to bourses, the U.K.'s FTSE 100 was posting minor gains, while France's CAC 40 and Germany's DAX fell into the red. Basic resources was Europe's worst performing sector after disappointing data in China and a decline in metal prices brought down most of the stocks. Industrial production, retail sales and fixed asset investment numbers in the world's second-largest economy missed expectations. Several London-listed miners fell to the bottom of the index, including Glencore, Rio Tinto and Anglo American. Nonetheless, the main focus in Europe remained on earnings. As a result, the telecoms sector was one of the biggest gainers with the U.K. telecoms giant Vodafone raising its full-year earnings growth to around 10 percent from 4-8 percent. The numbers sent the stock over 4.5 percent higher. German telecommunication service provider Drillisch rose 2.6 percent after announcing its nine-month results. Technology stocks were also higher after Simcorp reported third-quarter results above expectations. The stock rose over 8.5 percent on the news. Tesco was up 6.3 percent after regulators approved its takeover of Booker. Henkel, a German chemical and consumer goods company, warned against difficult conditions in the consumer goods market during their third-quarter results. The stock fell 5 percent. Utilities company RWE announced a 9.3 percent increase in its nine-month core earnings on Tuesday. The share price was down 4 percent. In other corporate news, Credit Suisse agreed to pay $135 million to a New York regulator for misconduct in its foreign exchange business. In terms of data, flash gross domestic product figures in Germany showed an expansion driven by exports and investments. GDP was up 0.8 percent in the third quarter from 0.6 percent in the previous quarter. In the U.K., new inflation numbers came in lower-than-expected with consumer prices up 0.1 percent month-on-month and 3 percent year-on-year versus 0.2 and 3.1 percent expected, respectively. Sterling dropped on the data but recovered shortly afterwards. More»