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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Canal Shipping Agencies   7.39        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        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        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 - 2018-01-11 06:30:17
European equities closed lower on Wednesday afternoon as investors monitored corporate earnings and fresh data. The pan-European Stoxx 600 closed down by 0.47 percent with most sectors trading in negative territory. Telecoms was the worst-performing sector, dropping throughout the day's trade to finish 1.89 percent lower. In particular, Swedish mobile operator Tele2 was over 7.5 percent down as some investors doubted the company would see near-term profits after buying cable group Com Hem. Altice finished the day's trade over 7.2 percent to the downside as investors are concerned about the telecoms market in Europe. By contrast, banking stocks rallied throughout the day, ending trading up over 2 percent. This was due to several rating upgrades in the banking sector. Metro Bank performed well, climbing earlier in the day and steadying at over 4.3 percent in afternoon trade. Commerzbank topped the sector, up 5.14 percent. Insurance as well as financial services — albeit by a small margin — were the only other sectors in the green. Spread better IG group closed 4.36 percent lower after the Financial Conduct Authority published a letter about its findings of a review of the CFD (contract for difference) market. Sainsbury's shares rallied during the session, finishing 2.2 percent higher in the afternoon after the company announced a record Christmas week. Taylor Wimpey was over 4 percent lower by the market close despite it announcing 2017 results in line with expectations and forecast further growth in 2018. The housebuilder also mentioned that its order book was down. Luxury retailer Ted Baker moved higher throughout the day, closing nearly 10 percent to the upside after posting an increase in sales during its Christmas period. In the U.S., stocks were trading lower over investor worries that China may stop buying U.S. sovereign bonds. The Dow Jones industrial average briefly dropped over 100 points while the S&P 500 declined 0.3 percent. In terms of data, November output data in the U.K. came in higher-than-expected at 0.4 percent year-on-year compared to an estimated contraction of 1.1 percent, Reuters reported. More»
Amwal Al Ghad English - 2018-01-11 06:27:44
U.S. stocks fell on Wednesday as investors fretted over the possibility of China halting its Treasury bond purchases and the U.S. pulling out of NAFTA. The S&P 500 declined 0.1 percent to close at 2,748.23. Utilities and real estate were the worst-performing sectors on the index. The Nasdaq composite finished 0.1 percent lower at 7,153.57. Both indexes snapped a six-day winning streak, posting their first negative close of 2018. The Dow Jones industrial average fell 16.67 points to 25,369.13. The index had fallen 128.81 points at its session lows. Bloomberg News reported Wednesday, citing people familiar with the matter, that officials in Beijing have recommended the Chinese government lowers — or even stops — its buying of U.S. sovereign debt. The report also notes that Chinese officials think U.S. debt is becoming less attractive compared to other assets, adding that trade tensions between the two countries could provide a reason to slow down or halt the purchases. Daniel Deming, managing director at KKM Financial, said the report rattled financial markets. "We're now seeing rates go to levels the market hasn't had to contend with in a long time," he said. "The rate environment is changing dramatically. Now the market has to price that in. That's why you're seeing this pressure." The major averages regained some footing as the day wore on. The Dow briefly turned positive, while the S&P 500 and Nasdaq climbed to trade well off their lows. But they retreated from their highs of the day after Reuters reported, citing two Canadian government sources, that Canada is increasingly convinced that Trump will pull the U.S. out of the trade agreement. Shares of General Motors fell nearly 2.4 percent on the back of the report. Canadian stocks fell broadly, too. Stocks posted record highs in the previous session, continuing their stellar start to 2018. Thus far, the Dow, S&P 500 and Nasdaq are up 2.7 percent, 2.9 percent and 3.8 percent, respectively, for the year. "When you start off the year the way we did, it's usually because of asset allocation decisions made in December," chairman and CEO of Marketfield Asset Management. "Now the market needs to recharge its batteries. This pattern is normal." Gold futures were higher by 0.4 percent at $1,318.40 per ounce, while the U.S. dollar dropped 0.2 percent against a basket of currencies. In corporate news, Eastman Kodak shares surged 57.4 percent after the company said it has used blockchain — the underlying technology for popular cryptocurrencies like bitcoin — to create a digital photography platform called KodakCoin. Signet Jewelers was the worst-performing stock in the S&P 500, falling 6.9 percent after its holiday same-store sales fell short of estimates. More»
Amwal Al Ghad English - 2018-01-11 06:12:54
Most major Asian indexes declined on Thursday following the softer lead from Wall Street. Investors in the region also focused on quarterly releases as Japanese corporates kicked off earnings season. The Nikkei 225 declined 0.43 percent, with major exporters, including automakers and technology names, trading lower: Toyota fell 1.08 percent, Honda lost 2.15 percent and Canon shed 0.42 percent. Many investors in the region also awaited corporate earnings due later in the day. Uniqlo owner Fast Retailing, the most heavily weighted stock on the Nikkei 225, is due to report earnings for the quarter ending November on Thursday. Shares of the company reversed early gains to trader lower by 0.28 percent. Convenience store operators Seven & i Holdings and Family Mart UNY Holdings are also set to report on Thursday. Over in Seoul, the Kospi edged lower by 0.48 percent. Chipmakers, which had weighed on the index in the last session, were mostly lower on Thursday. Samsung Electronics was off by 0.86 percent and SK Hynix shed 0.14 percent. Automakers and manufacturing names also saw losses. Steelmakers Posco and Hyundai Steel declined 2.01 percent and 1.98 percent, respectively, while Hyundai Motor lost 0.64 percent. In Sydney, the benchmark S&P/ASX 200 shed 0.56 percent — with most sectors except gold producers edging lower on the day. The Australian dollar got a boost after data released earlier showed November retail sales rose more than expected. The currency traded at $0.7868 at 11:57 a.m. HK/SIN, which compared to levels around the $0.783 handle seen before the release. Greater China markets traded mixed in the early going. Hong Kong's Hang Seng Index slipped 0.18 percent, snapping a 12-day win streak. Despite the move lower, the Hang Seng Index, the region's top-performing major last year, continued to hold above the 31,000 level. Mainland markets were slightly lower, with the Shanghai composite edging down 0.15 percent and the Shenzhen composite off by 0.1 percent. A report that China could potentially slow or halt its purchases following recommendation from officials in Beijing could be inaccurate, Reuters reported on Thursday, citing a source in the Chinese government. The original headlines, reported by Bloomberg on Wednesday, saw U.S. indexes close lower and the dollar tumble in the last session. The Dow Jones industrial average slipped 0.07 percent, or 16.67, to end at 25,369.13 and the S&P 500 and Nasdaq composite closed lower for the first time in 2018. The latest news saw the dollar pare some overnight losses. The dollar index, which tracks the U.S. currency against a basket of currencies, traded at 92.402 at 11:53 a.m. HK/SIN, off levels around the 92.3 handle seen before the news. The dollar index had traded as low as 91.922 after the Bloomberg report. Against the yen, the dollar edged higher to fetch 111.67. The dollar was on the back foot against the Japanese currency following news earlier this week that the Bank of Japan had slightly reduced its purchases of Japanese government bonds. The greenback had traded around the 113 handle at the beginning of the week. Meanwhile, bitcoin tumbled 9 percent after South Korea said it was readying a bill that would ban trade of the digital currency in the country. Bitcoin traded at $13,450.74 at 12:10 p.m. HK/SIN, according to industry site CoinDesk. Also of note, Hyundai Motor announced in a statement that it would be partnering with Southeast Asian ride-hailing company Grab to develop "future mobility services" in the fast-growing region. The sum of the investment was not disclosed by the companies. More»
Amwal Al Ghad English - 2018-01-10 06:43:30
European markets closed higher Tuesday afternoon as investors reacted to better-than-expected economic data and shrugged off a tech wobble in Asia. The pan-European Stoxx 600 closed 0.43 percent higher Tuesday, with major bourses and almost all sectors in positive territory. The autos sector rallied in afternoon trade, closing 1.42 percent higher. German tyre specialist Continental led the gains, finishing up over 5 percent on reports that it could restructure itself. Basic resources stocks also did well, closing up 1.21 percent. Mining giant Anglo American led the way. Europe's telecoms sector ended the day's trading 0.58 percent to the upside, boosted by corporate restructuring news. Altice led the gains on the European benchmark after its board announced plans to spin-off the firm's U.S. unit from European operations. The telecoms and cable group topped the Stoxx 600, closing up nearly 11 percent. Meanwhile, utilities closed nearly 1 percent lower. Looking at individual stocks, WM Morrison was trading higher after the U.K. grocer said it was comfortable with analysts' full-year profit forecasts, Reuters reported. Shares of the firm moved higher throughout Tuesday's trade, up by over 2.38 percent by the market close. Meanwhile, Steinhoff slipped to the bottom of the index after the European Central Bank (ECB) sold its entire holding of bonds from the scandal-hit South African retailer on Monday. Its shares tumbled 5.36 percent lower by Tuesday's close, though this showed a slight recovery from further losses earlier in the session. In commodities, oil prices rose to their highest level since May 2015 on Tuesday amid ongoing OPEC-led production cuts and weaker-than-anticipated U.S. crude inventories. Brent crude touched above $68 per barrel. On the data front, Germany's industrial production and exports were both stronger-than-anticipated in November, showing continued rising growth in Europe's largest economy. Stateside, U.S. equities rose to record highs on positive investor sentiment ahead of earnings season. Financial giants BlackRock, J.P. Morgan Chase and Wells Fargo will report fourth quarter results later this week. More»
Amwal Al Ghad English - 2018-01-10 06:37:58
U.S. equities rose to record highs on Tuesday as investors remained optimistic about the market heading into the corporate earnings season. The S&P 500 hit a fresh all-time high, rising 0.1 percent to close at 2,751.29. The index is also enjoying its best start to a year since 1987. The S&P 500 is up 2.7 percent for the year, notching its biggest six-day gain to kick off a year since then. The Dow Jones industrial average jumped 102.80 points to 25,385.80 as Boeing reached an all-time high. The Nasdaq composite climbed 0.1 percent and closed at 7,163.58. "It's been a great start to the year. The momentum we saw in 2017 carried over into this year," said Jim Davis, regional investment manager at U.S. Bank Wealth Management. Financial giants BlackRock, J.P. Morgan Chase and Wells Fargo are among the companies set to report quarterly results later this week. "Q4 is going to be fine," said Maris Ogg, president at Tower Bridge Advisors. "I think the most important thing is going to be getting information on the impact of the tax cuts company by company. There's no reason that shouldn't be mostly positive." President Donald Trump signed a bill last month that cut the federal corporate tax rate to 21 percent from 35 percent. Some positive corporate news has already started to trickle down, giving the overall stock market a boost. On Tuesday, Target reported same-store sales growth of 3.4 percent for the holiday season, surpassing estimates. The stock climbed 2.9 percent. Stocks also followed international markets higher on Tuesday. The Japanese Nikkei 225 rose 0.6 percent after the Bank of Japan unexpectedly trimmed its long-dated government bonds purchases. The move raised speculation that the central bank could start unwinding its stimulative policy this year. It could also signal the BOJ's confidence in the Japanese economy is growing. The Japanese yen traded 0.5 percent higher against the dollar following the announcement. European stocks also rose, with the Stoxx 600 index advancing 0.6 percent. The French CAC 40 index was among the best performers in Europe, closing 0.6 percent higher. U.S. equities are off to a strong start for the year as the momentum seen in 2017 carried over into 2018. The major averages have reached fresh record highs in 2018 and have hit key milestones. The Dow, S&P 500 and Nasdaq closed above 25,000, 2,700 and 7,000, respectively, for the first time last week. Shares of Under Armour fell 5.4 percent on Tuesday, after Susquehanna downgraded the athletics apparel to "negative" from "neutral," noting the Under Armour brand remains at risk. PayPal's stock rose 0.2 percent after Cowen analyst George Mihalos upgraded the stock and hiked his price target. In a note to clients, Mihalos said he recognizes he has "come to the party well after the candles have been blown out." More»
Amwal Al Ghad English - 2018-01-10 06:12:16
Major Asian markets traded mostly lower on Wednesday despite a solid lead from Wall Street overnight, but Hong Kong stocks bucked the trend. In Japan, the Nikkei 225 declined 0.14 percent despite broad gains across auto stocks and financial plays. Major automakers posted gains: Toyota rose 2.02 percent, Honda was up 2.42 percent and Mitsubishi Motors added 3.93 percent. Banking stocks were also up with Sumitomo Mitsui Financial Group adding 2.24 percent and Mitsubishi UFJ up 1.55 percent. Energy names also traded higher with Inpex shares gaining 2.75 percent. But shares of SoftBank and Fast Retailing — two heavily-weighted names on the Nikkei stock average — were down 0.56 percent and 0.72 percent, respectively. Over in Seoul, the benchmark Kospi index declined 0.25 percent. Shares of tech giant Samsung Electronics fell 2.74 percent Wednesday morning. The stock declined in the Tuesday session on the back of a weaker-than-expected fourth-quarter profit guidance, prompting concerns about the business outlook for its semiconductor business. Rival memory chip maker SK Hynix tumbled 4.94 percent. Australia's S&P/ASX 200 shed 0.52 percent in afternoon trade as most sectors declined. The gold subindex saw the steepest decline, down 1.73 percent, as miners struggled: Newcrest shares fell 2.11 percent, Evolution Mining was down 1.18 percent and Kingsgate tumbled 6.33 percent. Major banking stocks traded mixed as ANZ shares slipped 0.4 percent, Commonwealth Bank was down 0.54 percent and the National Australia Bank fell 0.37 percent. Westpac shares rose 0.22 percent. Hong Kong's Hang Seng index rose 0.68 percent after opening nearly flat. The index closed higher for the 11th straight session on Tuesday, marking its longest win streak since 1991, and is now eyeing a 12th consecutive day of gains. Currently trading at 31,223.19, the index is inching towards its all-time high of 31,958.41, which was set in 2007. The Shanghai composite was up 0.35 percent in the afternoon. Meanwhile, the Shenzhen composite traded down 0.36 percent. The moves followed price data out of the country: Consumer inflation in China rose 1.8 percent on-year in December, which was a touch lower than the market's expectations, while the producer price index topped predictions to climb 4.9 percent on-year, according to Reuters. U.S. stocks closed higher on Tuesday in the lead up to earnings season kicking off later this week, with investors positive about the upcoming release of fourth-quarter results. Major U.S. banks, including J.P. Morgan, are set to report on Friday. The Dow Jones industrial average rose 0.41 percent, or 102.8 points, to close at 25,385.8. The yield on the 10-year U.S. Treasury note rose to a nine-month high overnight after the Bank of Japan on Tuesday moved to slightly reduce its long-dated Japanese government bond purchases. "Although the decrease [from the BOJ] was modest, it broadens the number of global policymakers stepping away from the markets," Kathy Lien, managing director of FX strategy at BK Asset Management, said in a note. The 10-year yield last stood at 2.55 percent. In currencies, the Japanese yen traded at 112.30 to the dollar at 12:14 p.m. HK/SIN, coming off an earlier session high of 112.15. That compared to levels around the 113 handle seen earlier this week before the BOJ's Tuesday move to slightly trim its purchases of Japanese government bonds. Meanwhile, the dollar index traded at 92.450 against a basket of currencies. On the commodities front, oil prices extended gains seen on Tuesday. U.S. crude futures rose 0.81 percent to trade at $63.47 a barrel and Brent crude added 0.81 percent to $69.47. Toyota announced in a Tuesday statement that it would recall around 601,300 more vehicles in the U.S. due to safety issues related to Takata air bag inflators. The affected air bags have already been associated with at least 20 deaths, Reuters said. Meanwhile, dealings in shares of Glencore on the Hong Kong market are set to cease on Wednesday after the miner announced last year it would de-list from the Hong Kong Exchange. In a statement last October, Glencore said its Hong Kong-listed shares accounted for 0.3 percent of its total issued share capital. The de-listing is expected to be effective January 31. More»
Amwal Al Ghad English - 2018-01-09 06:34:21
The S&P 500 and Nasdaq composite finished Monday's session at all-time highs as investors remained optimistic on the U.S. economy. The Nasdaq rose 0.3 percent to close at 7,157.39 as shares of Facebook, Amazon, Google-parent Alphabet and Netflix finished higher. The tech-heavy index also hit an intraday record of 7,161.35. The S&P 500 climbed 0.17 percent to 2,747.71, with utilities rising 0.9 percent to lead nine of the 11 sectors higher. It also set an intraday record of 2,748.51. The Dow Jones industrial average, meanwhile, closed 12.87 points lower at 25,283, snapping a four-day winning streak. The 30-stock index, however, reached an intraday record of 25,311.99. Despite the record highs notched on Monday, the major averages traded in a tight range. The Dow and S&P 500 oscillated in a range of 0.3 percent and 0.4 percent, respectively on Monday. The Nasdaq, meanwhile, traded in a range of 0.5 percent. "When you contemplate a market that comes out of the gate that quickly, you're going to get a pause," said Art Hogan, chief market strategist at B. Riley FBR. Equities set all-time highs last week, as the Dow and Nasdaq had their best four-day start to a year since 2006. The major indexes also reached key milestones last week. The Dow, S&P 500 and Nasdaq closed above 25,000, 2,700 and 7,000, respectively, for the first time last week. Wall Street also looked ahead to the start of the calendar fourth-quarter earnings season later this week. J.P. Morgan Chase, BlackRock, and Wells Fargo are among the companies scheduled to report. B. Riley's Hogan said this earnings season will be "complicated" as investors search for clues about how the changes to the U.S. tax code will impact each company. President Donald Trump signed a bill last month that slashed the U.S. corporate tax rate to 21 percent from 35 percent. Stocks pushed higher throughout 2017 as investors bet on a lower tax rate for companies. "Analysts have begun to lift earnings estimates aggressively as a consequence of the rewriting of the tax code," said Jeremy Klein, chief market strategist at FBN Securities. "Expected profits for the S&P 500 for 2018 have grown by nearly 3% since early October with half of these gains coming in the past week." "To be sure, stocks are expensive. Nevertheless, those bullish have surmised that shares will get more attractive as bottom line forecasts continue to rise out of deference to the fiscal stimulus," Klein said. Elsewhere in corporate news, Snap shares declined 3 percent after Jefferies downgraded them to hold from buy. Jefferies said that "fundamental execution needs to be shown before we can be more positive on the name." Meanwhile, candy giant Hershey submitted a final bid to acquire Nestle's U.S. confectionery business, sources told CNBC. Hershey shares rose 1 percent. More»
Amwal Al Ghad English - 2018-01-09 06:31:47
European markets closed higher on Monday afternoon, following a firm lead by U.S. stocks in the previous session and as Germany looks closer to forming a new government. The pan-European Stoxx 600 closed 0.27 percent higher after hitting its highest level since August 2015 in the morning. But of the major European bourses, the U.K. FTSE ended the day in the red, down 0.36 percent as U.K. Prime Minister Theresa May reshuffled her cabinet. Basic resources stocks led the gains, rallying over 1.5 percent by the end of Monday's trade. This follows news of trade deals between France and China. Airbus is trying to reach new deals with Beijing on the A380 as it works to get new customers. Efforts are part of a trade mission by President Emmanuel Macron during his first state visit to the Middle Kingdom. Meanwhile, autos closed 0.89 percent higher having hovered around the 1 percent figure throughout the day as investors grew confident on the prospects of the sector in 2018. Technology was the poorest performing sector, ending Monday's trade down 0.23 percent. Looking at individual stocks, Galapagos rose to near the top of European benchmark, up by about 4.5 percent after news of positive preliminary tests in an osteoarthritis study. Dialog Semiconductor shares swung to the downside in afternoon trade, closing 0.8 percent lower despite having recovered some losses. In fact, the chipmaker had begun the day in positive territory after preliminary fourth-quarter sales numbers came in above expectations. Dialog's fortunes are dependent on the custom of technology giant Apple, its largest client, who may be developing its own chips. On the other hand, Micro Focus was the worst performing stock on the index, trading nearly 17 percent lower after saying its pretax profit for the first half of its fiscal year was boosted by the acquisition of Hewlett Packard Enterprises. Meanwhile, shares of Mothercare fell over 27 percent after the retailer issued a profit warning. More broadly, positive global sentiment continues to drive European stocks. On Friday, the Dow set a new record for the best start to a year since 2006. Chancellor Angela Merkel of Germany sounded optimistic about reaching a deal with the Social Democrats and thus avoiding fresh elections. In the corporate world, Hershey and Ferrero are racing to buy Nestle's U.S. candy business. Across the pond, U.S. stocks fell as investors took a breather from the rally that kicked off in 2018. The Dow Jones industrial average dropped by 38 points, while the S&P 500 withdrew by 0.1 percent. More»
Amwal Al Ghad English - 2018-01-09 06:26:49
Asian markets clung to gains on Tuesday after a somewhat quiet session on Wall Street. Investors in the region also digested earnings guidance from tech heavyweight Samsung Electronics and kept an eye on ongoing inter-Korea talks. Japan's Nikkei 225 rose 0.42 percent, but was off session highs seen earlier, as markets re-opened following a long weekend. The benchmark index rose to its highest levels in 26 years in the last trading sessionTrading houses, automakers and technology names, which had begun in positive territory, traded mixed. Sony and SoftBank Group rose 1.99 percent and 0.22 percent, respectively. Over in Seoul, the Kospi edged up by 0.17 percent as investors kept an eye on talks held between North and South Korea. The discussions, which are expected to focus on the upcoming Winter Olympics hosted by the South, come after missile launches by North Korea drew international concern last year. "Keep an eye on the North and South Korean talks, but don't get your hopes up too high on any concrete outcomes," analysts from OCBC Treasury Research said in a morning note. Shares of Samsung Electronics were lower by 1.88 percent after the company announced its fourth-quarter earnings guidance on Tuesday. The tech giant said it was estimating a record 15.1 trillion Korean won ($14.13 billion) in operating profit for the quarter. Still, that was a touch below the 15.9 trillion won forecast by Reuters. More»
Amwal Al Ghad English - 2018-01-08 05:30:51
Asian shares were mixed on Monday, following the strong lead from Wall Street in the last session. With few data releases expected during the session, many investors awaited earnings releases from regional corporates later in the week. In Sydney, the S&P/ASX 200 edged up 0.11 percent. Australia's "Big Four" banks were higher on the day, with ANZ climbing 0.4 percent. Gold producers, meanwhile, declined, with the All Ordinaries Gold index edging lower by 0.47 percent- they were the worst-performing sector for the day. South Korea's Kospi rose 0.4 percent after earlier slipping below the flat line. Retailers, automakers and trading houses rose in the session, with Lotte Shopping adding 2.08 percent. Blue chips Samsung Electronics and SK Hynix, however, lost 0.38 percent and 2.02 percent, respectively. Officials from the two Koreas are set to meet on Tuesday for the first time since December 2015. The talks are expected to focus on the upcoming Winter Olympics hosted by South Korea and inter-Korean ties, Reuters said, citing a government spokesman. Greater China markets were, for the most part, little changed. The Hang Seng Index took a pause, trading 0.04 percent lower after seeing gains of 2.6 percent last week. Most property developers rose, extending gains recorded in the previous session. China Evergrande was higher by 2.97 percent and China Vanke tacked on 4.09 percent. On the mainland, the Shanghai Composite reversed early losses to climb 0.35 percent and the Shenzhen Composite was nearly flat. MSCI's broad index of shares in Asia Pacific excluding Japan was higher by 0.22 percent at 12:32 p.m. HK/SIN. The index was just under its all-time high of 591.50 set more than a decade ago. The first trading week of the year had seen Asian markets touch multi-year highs. Hong Kong's Hang Seng Index hit its highest levels in a decade and Japan's benchmark Nikkei 225 rose to levels not seen in 26 years in the last trading day. Earnings releases from several Japanese corporates are expected toward the end of the week, although Samsung Electronics is set to release its fourth-quarter earnings guidance on Tuesday. Japanese markets are closed for Coming of Age Day. U.S. markets closed higher on Friday despite jobs data for the month of December coming in below expectations. Just 148,000 jobs were added in the U.S. last month, according to government data, compared to the 190,000 increase projected in a Reuters poll. Average hourly earnings were higher by 2.5 percent on an annualized basis. Still, major indexes stateside recorded gains in the last session to cap off a strong start to the year, with the Dow Jones industrial average climbing 2.3 percent last week. On the currency front, the greenback remained on the back foot against a basket of currencies, but traded a tad firmer at 92.047 at 12:24 p.m. HK/SIN. That was slightly above Friday's close of 92.013. "On balance, the U.S. nonfarm payroll numbers ... left the dollar (and Fed rate hike odds) none the worse for wear, but investors we think will continue to channel their attention to the other major global central banks instead," said Emmanuel Ng, an analyst at OCBC Bank. Against the yen, the dollar traded at 113.12. The Australian dollar was mostly steady at $0.7864. Meanwhile, oil was slightly firmer after slipping in the previous trading session on the back of higher U.S. production. Oil prices had soared to their highest levels since May 2015 earlier last week. U.S. West Texas Intermediate tacked on 0.23 percent to trade at $61.58 a barrel and Brent crude futures added 0.18 percent to trade at $67.74. In corporate news, shares of Shenzhen-listed FAW Car were up 2.15 percent. The automaker announced Sunday that it had agreed to take a 10 percent stake in Mobike Chuxing Technology, the car-sharing arm of mainland bike-sharing start-up Mobike, Reuters reported. Other mainland-listed automakers were also higher, with Great Wall Motor up 3.38 percent on the day. More»