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        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        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 - 2017-11-14 06:35:05
U.S. equities closed slightly higher on Monday amid dealmaking news, but a decline in General Electric shares, coupled with worries about tax reform, capped gains in the major indexes. The S&P 500 rose 0.1 percent to 2,584.84, with Mattel shares surging 20 percent on news that Hasbro has approached the toy maker about a takeover. Hasbro's bid for Mattel is the latest news out of a dealmaking space that has recently picked up steam. Last week, CNBC learned that 21st Century Fox has been in talks to sell most of the company to Disney. Also, Qualcomm rejected a $105 billion bid from Broadcom. GE, meanwhile, was the worst-performing stock in the S&P 500. It fell 7.2 percent after the company issued weaker-than-expected guidance for 2018. The industrial giant also slashed its dividend by 50 percent and announced it will focus on its health care, aviation and energy businesses moving forward. The Nasdaq composite finished 0.2 percent higher at 6,757.60, with Facebook, Amazon and Netflix rising, while Apple and biotech stocks declined. The Dow Jones industrial average rose 17.49 points to end at 23,439.70, with Boeing among the biggest contributors of gains, while GE was the biggest decliner on the index. Dubai airline Emirates unveiled a provisional order for 40 of Boeing's 787 Dreamliners. The deal is worth $15.1 billion. Market sentiment has been on edge as of late as investors wonder whether the government will get tax reform done at all this year.There are also worries that, even if tax reform gets done, a corporate tax cut could be delayed until 2019. These concerns came about after the Senate unveiled its own tax reform bill. In contrast, a House bill would slash the corporate rate immediately. The House wants to vote on its bill this week. "As the tax debate intensifies, investors are becoming more skeptical" that lower corporate taxes will arrive this year, said Peter Cardillo, chief market economist at First Standard Financial. "I think the market is caught in a reality check right now." Equities had rallied to record highs amid renewed hope that the GOP-led Congress, along with the Trump administration, would be able to move forward with tax reform this year. President Donald Trump said in a tweet Monday that he was proud of the House and Senate " for working so hard on cutting taxes {& reform.} We're getting close!" If the government can move forward with tax reform this year, the market could be set up for an "upside surprise," said Jason Pride, director of investment strategy at Glenmede, in a note. "Skepticism that meaningful reform on the corporate side is mounting," he said, adding that "market expectations for tax reform are quite low." Elsewhere, there are no major economic data set for release Monday, but investors are looking ahead to key inflation data due later in the week. Earnings rolled again Monday, with Tyson Foods and JD.com reporting quarterly results before the open. Switch is set to report after the bell. Other retailers, such as Home Depot, Lowe's and Wal-Mart will release their quarterly results later this week. Retail "has been such a weak sector that investors are hoping to find some bargains," said Kate Warne, investment strategist at Edward Jones. She noted, however, that the market will punish those companies that post disappointing results as the margin of error will be very small. Overseas, European markets fell broadly. The Stoxx 600 index, which is made up of a broad swath of European equities, fell 0.7 percent, while markets in Asia finished mostly in the red. More»
Amwal Al Ghad English - 2017-11-14 06:32:12
European stocks closed in the red on Monday as investors focused on earnings and monitored political woes in the U.K. The pan-European STOXX 600 came off its session lows, to close provisionally down 0.66 percent. Almost all sectors ended the day lower. Looking to major bourses, the U.K.'s FTSE 100 dipped 0.24 percent by the close, while France's CAC 40 and Germany's DAX fell further, closing 0.73 and 0.4 percent lower respectively. In peripheral markets, Switzerland's SMI outperformed other bourses, closing up 0.31 percent. Financial services was the worst-performing sector, closing down 1.58 percent, as investors showed signs of concern over the future of tax reform plans in the U.S. Consequently, U.S. equities struggled to post gains around the European close, as market-watchers fretted that tax reform may not arrive this year. Food and Beverage, however, outperformed fellow sectors, closing up 0.3 percent as a sector, with Swiss chocolatier Barry Callebaut leading the sector, finishing up over 3 percent. The FTSE 100 was the standout gainer in mid-morning deals boosted by sterling weakness, but closed slightly lower, dragged down by financial, retail and industrial stocks. Nonetheless, sterling has remained under pressure on growing concerns over the future of Theresa May as prime minister. A report published by the U.K.'s Sunday Times newspaper showed that a group of 40 Conservative members of parliament had agreed to sign a letter of no-confidence in the U.K. leader. The British currency was 0.61 percent down against the dollar at the European market close. In individual stocks news, EDF hit the bottom of the European benchmark, ending down by 10.39 percent after the group lowered its core earnings and cash flow guidance for 2018. In other energy news, Shell agreed to sell almost two-thirds of its stake in Woodside Petroleum for $1.7 billion. Building materials group Kingspan dropped 6.5 percent, after it pointed out that it had seen recent evidence of "a slowdown in U.K. commercial and industrial activity." This comes after the company saw sales rise 19 percent during the first nine months of 2017, compared to the same period in 2016. Sticking with the U.K., several British retailers sank to the bottom of the sector. This follows a Visa survey that revealed Monday that overall spending by British consumers in October had fallen at its fastest rate in over four years. Meanwhile, Sonova shares fell 2.4 percent after the Swiss hearing aid maker reported first-half results that missed analyst expectations. However, some stocks posted gains on the first trading day of the week. Freenet shot up 4.74 percent, after Independent Research raised its price target on the stock. Meanwhile, Goldman Sachs raised its target price on both TDC and Telenet, causing both stocks to close up near to the top of the STOXX 600 benchmark. More»
Amwal Al Ghad English - 2017-11-14 06:24:16
Asian equities were mostly pressured in Tuesday trade following a lackluster session on Wall Street that saw major indexes close just above the flat line. Investors also digested the release of a slew of Chinese economic data points that came in below forecasts. The Nikkei 225 erased early losses to climb 0.42 percent as gains in most tech names offset losses in trading houses and energy-related stocks. Shares of Sharp and Toshiba were up 3.06 percent and 4.66 percent, respectively. Across the Korean Strait, the Kospi lost 0.26 percent as automakers and cosmetics names pared gains made in the last session. Brokerages also trended lower. Despite the benchmark index edging lower, the tech-heavy Kosdaq soared 1.49 percent. Down Under, the S&P/ASX 200 fell 0.93 percent as declines in resource stocks and financials dragged on the broader market: National Australia Bank was down 1.62 percent and Rio Tinto lost 0.9 percent. The energy sector was also in the red, with Santos falling 2.07 percent as oil edged lower. Following news that Shell Energy Holdings Australia sold its 3.5 billion Australian dollar ($2.7 billion) stake in Woodside, shares of the latter traded down 3.16 percent. Of note, business conditions in Australia rose to a record high in October as profits improved, according to National Australia Bank's monthly survey. More»
Amwal Al Ghad English - 2017-11-13 09:17:55
Asian stock markets wavered during Monday trade after U.S. stocks ended mostly lower on Friday, with Japan's Nikkei 225 index ending lower for the fourth straight session. Markets on the move The Nikkei 225 fell 1.32 percent, or 300.43 points, to close at 22,380.99 — its lowest close since October 31. Trading houses, financials and tech plays ended mostly lower. Energy-related stocks, however, were mixed against the broadly declining index: JXTG Holding closed up 1.69 percent while Inpex slid 1.66 percent. Across the Korean Strait, the Kospi edged down 0.5 percent to end at 2,530.35 as gains in automakers and cosmetics stocks were offset by losses in manufacturing names: Amorepacific closed up 0.62 percent, Hyundai Motor jumped 3.88 percent and Samsung Heavy fell 2.78 percent by the end of the session. Down Under, the S&P/ASX 200 slipped 0.13 percent to close at 6,021.77. Moderate losses in the heavily-weighted financials sub-index, which fell 0.53 percent, weighed on the broader index. Greater China markets proved to be a bright spot in the region. The Hang Seng Index rose 0.32 percent by 3:00 p.m. HK/SIN. On the mainland, the Shanghai Composite rose 0.47 percent to finish the session at 3,448.68 while the Shenzhen Composite edged up 0.30 percent to close at 2,045.18. Shares of Country Garden Holdings and Sunny Optical Technology (Group) got a boost after the companies were included in the Hang Seng Index. Property developer Country Garden jumped 6.03 percent and Sunny Optical advanced 5.19 percent by 3:03 p.m. HK/SIN. Meanwhile, Cathay Pacific Airways and Kunlun Energy fell 0.65 percent and 3.23 percent, respectively by 3:03 p.m. HK/SIN, after being removed from the index. Bank stocks traded on the mainland closed the session higher following an announcement last week that China would be easing foreign ownership rules in the financial sector: ICBC closed up 2.41 percent, and Merchants Bank rose 2.14 percent by the end of the session. Although there was no lack of events, there was "a sense of dulled direction and motivation" in the markets, Vishnu Varathan, head of economics and strategy at Mizuho Bank, said in a morning note. U.S. stocks mostly closed lower on Friday, extending losses made on Thursday. The Dow Jones industrial average slid 0.17 percent, or 39.73 points, to end at 23,422.21. More»
Amwal Al Ghad English - 2017-11-13 09:17:42
European stock markets traded mostly higher early Monday as investors focused on earnings, while keeping an eye on tax reform plans in the U.S. and political woes in the U.K. The FTSE 100 was the standout gainer, rose 0.4 percent in early deals. The index was helped by a sharp drop in sterling over the weekend which boosts the profits of large U.K.-based multinational firms that collect revenues in U.S. dollars. Sterling fell on growing concerns over the future of Theresa May as prime minister. In individual stocks news, Aggreko shares rose 3.6 percent after the company appointed a new chief financial officer and received a rating upgrade from Jefferies. Taylor Wimpey shares climbed 0.4 percent on a trading update where it said it was on track for further growth. Meanwhile, Sonova shares sank 8.5 percent in early deals as the Swiss hearing aid maker reported first-half results that missed analyst expectations. Elsewhere on Monday, markets in Asia finished under pressure as investors questioned the chances of U.S. Republicans achieving a tax reform deal quickly. This sentiment is set to transpose to Europe. In Germany, Chancellor Angela Merkel urged party leaders to reach a compromise for a new coalition government. In terms of data, there will be a new OPEC monthly report. More»
Amwal Al Ghad English - 2017-11-11 06:41:39
European markets closed down Friday afternoon as a slowdown in corporate earnings spurred profit-taking among investors. The pan-European Stoxx 600 closed 0.37 percent lower Friday afternoon. While major bourses were in negative territory, sectors themselves were pointing in different directions. Leonardo was the biggest loser Friday after the firm cut its revenue and profit guidance for 2017. The Italian aerospace and defense company cited a challenging environment in its helicopter business as the prominent reason for sharply reducing its outlook. Leonardo slumped to the bottom of the benchmark on the news, and closed the week 14 percent lower.Shares of British fashion icon Burberry slipped again Friday, closing down over 2 percent. A string of brokers, including Deutsche Bank, Credit Suisse and JPMorgan, all cut their target price for the stock after Burberry warned sales would stagnate over the next two years.With many sectors moving south basic resources stocks led the gains, closing up 0.29 percent. ArcelorMittal posted stronger-than-anticipated core profit in the three months through September and said it was upbeat about 2018. Shares of the world's largest steelmaker meant that it closed as the second best performing stock on the benchmark, up 3.37 percent. European banks were the second best performing sector, up 0.29 percent. Major U.S. stock indexes opened slightly lower Friday, threatening to break multi-week winning streaks. But, earnings from technology firm Nvidia which easily beat analysts' expectations boosted the sector more broadly. This week's two-day Brexit talks in Brussels concluded with the EU's Brexit negotiator Michel Barnier urging the U.K. to move faster in its negotiations to leave the group. There are several outstanding issues, including the size of the U.K.'s divorce bill, that are obstructing further progress being made. Meanwhile in China, a massive 24-hour shopping extravaganza known as Singles Day has just begun. The event outsells America's Black Friday and Cyber Monday sales put together. E-commerce platform Alibaba sold $17.7 billion of goods during Singles Day last year. Elsewhere, President Donald Trump's tour of Asia continued to be in the spotlight. Trump flew to a major economic summit in Da Nang, Vietnam, Friday morning, and subsequently pushed his "America First" agenda, saying that "We can no longer tolerate these chronic trade abuses, and we will not tolerate them." More»
Amwal Al Ghad English - 2017-11-09 06:58:20
European stocks ended under slight pressure on Wednesday as investors digested the latest coming out of the earnings space. The pan-European Stoxx 600 came off its session lows to finish down 0.05 percent provisionally, while sectors pointed in opposite directions by the close. Major bourses, meanwhile, ended mixed, with the U.K.'s FTSE 100 rising 0.22 percent, and Germany's DAX ending above the flatline, up 0.02 percent. France's CAC 40, however, slipped 0.17 percent. Financials and banking stocks underperformed several sectors Wednesday, on earnings and doubts over U.S. plans to reform the tax system. French bank Credit Agricole fell over 3 percent after posting lower net profits. Italy's BPM meanwhile sank 7.5 percent, after it was halted during early morning trading, Reuters reported. Elsewhere, the European Union put forward tougher car emissions objectives Wednesday, which included a credit system for automakers to push the rollout of electric vehicles and fines for exceeding carbon dioxide limits; Reuters reported. Autos sank 1.31 percent, making it Europe's worst performing sector of the day. Utility stocks fluctuated during trade, before recovering to close up. Investors showed concern during the session over regulation on a proposed merger between the British firm SSE and Innogy. They announced earlier that they would merge their British retail energy business. SSE fell to the bottom of the index, while Innogy finished higher. Marks & Spencer closed up 1.6 percent after announcing pretax profits slightly above forecasts, though lower from a year ago. The clothing and homeware arm of the British brand struggled, but its food and international business grew. Retail as a whole outshone with Ahold Delhaize rising 5.1 percent, after third-quarter earnings beat estimates. Carrefour also jumped 3.15 percent. Europe's best performer however was Ubisoft, which rose over 9 percent, after posting second-quarter sales above forecasts. Persimmon meantime dropped 3.5 percent, though the housebuilder said that forward sales beyond 2017 were up 10 percent and it had sold all of its stock for the current year. The British firm acquired more than 5,500 new plots in the third quarter of the year. Pharmaceutical company Lundbeck sank more than 7 percent, after it posted its latest earnings report. While third quarter operating profit exceeded market expectations, sales of its more recent drugs failed to meet forecasts. More broadly, investors will monitor developments in Saudi Arabia where an anti-corruption crackdown has led to several arrests of top officials. On Monday, the Kingdom also accused Iran of being behind a ballistic missile attack carried out in Yemen, sparking tensions in the region. Elsewhere, President Donald Trump told North Korea to avoid making a "fatal miscalculation." The message was delivered as the president continues with his 12-day trip to Asia. Speaking of, U.S. stocks traded under slight pressure at Europe's close, as investors look back at the last 365 days since the 2016 U.S. election. More»
Amwal Al Ghad English - 2017-11-09 06:41:00
Asian stocks traded mixed on Thursday as Japanese stocks erased all the gains they made during morning trade. Investors in the region also digested the release of Chinese inflation data and kept an eye on President Donald Trump's stop in Beijing. Japanese markets reversed all gains made in the morning session as the yen strengthened. The Nikkei 225, which had climbed some two percent to trade above the 23,000 mark in the morning, edged down 0.3 percent in the afternoon. The broader Topix index was off 0.31 percent after touching levels not seen since 1991 earlier in the day. Across the Korean Strait, the Kospi shed 0.5 percent. Down Under, the S&P/ASX 200 advanced 0.55 percent. The materials sub-index climbed, but a number of energy-related names pared some gains made earlier in the week. Hong Kong's Hang Seng Index rose 0.42 percent. Mainland markets, meanwhile, were narrowly mixed: The Shanghai Composite edged down 0.11 percent and the Shenzhen Composite rose 0.13 percent. U.S. stocks closed higher on Wednesday even though banks finished the session lower. The Dow Jones industrial average edged up 0.03 percent, or 6.13 points, to close at 23,563.36. More»
Amwal Al Ghad English - 2017-11-08 13:13:00
European stocks edged lower on Wednesday morning as investors focused on earnings and monitored President Donald Trump's trip to Asia. The pan-European Stoxx 600 was slightly lower, down 0.2 percent, with most sectors moving into negative territory. Financials and banking stocks fell more than 0.6 percent also on earnings and doubts over U.S. plans to reform the tax system. The French bank Credit Agricole fell more than 4 percent after posting lower net profits. The Italian bank BPM was halted from trading after falling more than 4.9 percent, Reuters reported. Utility stocks started as the top performers in early trade, but fell into negative ground as investors worried over regulation on a proposed merger between the British firm SSE and Innogy. They announced earlier that they would merge their British retail energy business. Household goods were higher on earnings. In particular, Ubisoft rose 8 percent after posting second-quarter sales above forecasts. Marks & Spencer was slightly higher in late-morning trade after announcing pretax profits slightly above forecasts, though lower from a year ago. The clothing and homeware arm of the British brand struggled, but its food and international business grew. Persimmon dropped more than 3 percent, though the housebuilder said that forward sales beyond 2017 were up 10 percent and it had sold all of its stock for the current year, Reuters reported. The British firm acquired more than 5,500 new plots in the third quarter of the year. Vonovia said its rental income was higher by 8.1 percent in the first nine months of the year. The shares of the German real-estate company were slightly lower. More broadly, investors will monitor developments in Saudi Arabia where an anti-corruption crackdown has led to several arrests of top officials. On Monday, the Kingdom also accused Iran of being behind a ballistic missile attack carried out in Yemen, sparking tensions in the region. Elsewhere, Trump told North Korea to avoid making a "fatal miscalculation." The message was delivered as the president continues with his 12-day trip to Asia. More»
Amwal Al Ghad English - 2017-11-08 06:57:52
European stocks closed Tuesday's trade lower as investors monitored a fresh batch of corporate earnings. The pan-European Stoxx 600 closed lower by 0.39 percent, with major bourses and most sectors in the red. The retail sector was down 0.9 percent. Online clothing retailer Zalando was the worst performing stock, trading over 5 percent lower. This came after the German company warned its full-year operating profit margin would be lower than expected after weak October business and ongoing heavy investment in logistics. Danish shipping firm Moller-Maersk was the worst performing company on the Stoxx 600, with its shares down over 7 percent. The world's largest container shipping group cut the profit forecast for its core business following a cyber attack and a weaker than anticipated third quarter. Dialog Semiconductor was also one of the worst performing companies in the Stoxx 600 after the firm reported a cautious outlook for the final three months of the year. The Anglo-German chipmaker, which also makes chips for Samsung electronics, posted a 4 percent increase in third-quarter adjusted operating profit. Its shares were nearly 7 percent lower. Danish jewelry maker Pandora said its projected full-year earnings would be at the lower end of the forecast range due to a challenging retail environment — most notably in its U.S market. Pandora's shares closed nearly 3.5 percent lower Tuesday afternoon. Oil and gas was one of the few sectors that closed positively, up 0.68 percent. Oil prices were supported Tuesday as Saudi Arabia's crown prince moved to tighten his grip on power amid rising tensions between the Kingdom and Iran. U.K.-based companies TechnipFMC and Tullow Oil led the sector in afternoon trade, both closing up approximately 3 percent. Stateside, the media sector shined as investor sentiment was boosted by potential deal-making. Disney and 21st Century Fox's stocks are up for a second straight day as the companies have been in talks, though there is no certainty that a deal will get done. Elsewhere, President Donald Trump called on countries from around the world to act with a sense of "great determination" in order to restrain North Korea's nuclear weapons program. Speaking at a joint press conference in Seoul Tuesday alongside South Korean President Moon Jae-in, Trump said, "North Korea is a worldwide threat that requires worldwide action."The U.S. leader is currently on a five-nation tour of Asia and the ongoing geopolitical uncertainty regarding the Korean peninsula is expected to be high on the agenda throughout. Trump will visit China, Vietnam and the Philippines over the coming week. More»