Shares in China jump on news of boost to infrastructure investment

Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses. The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28. Hong Kong-listed shares of Ch


Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses. The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28. Hong Kong-listed shares of Ch
Shares in China jump on news of boost to infrastructure investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: eustance huang
Keywords: news, cnbc, companies, mainland, close, investment, shenzhen, boost, china, trading, shares, jump, rose, soared, infrastructure, index, local


Shares in China jump on news of boost to infrastructure investment

Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses.

The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The Shenzhen component soared 3.708% to close at 1,538.23. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28.

The moves on the mainland came after state news agency Xinhua reported Monday that China would enable local governments to use special bonds to finance certain investment projects, citing a “notice on local government bonds.”

Over in Hong Kong, the Hang Seng index added 0.83%, as of its final hour of trading. Hong Kong-listed shares of China Construction Bank rose 1.43%.

Elsewhere, Japan’s Nikkei 225 close 0.33% higher to close at 21,204.28, while the Topix index added 0.54% to finish its trading day at 1,561.32. South Korea’s Kospi rose 0.59% to close at 2,111.81 as shares of LG Electronics soared 6.03%.

Over in Australia, shares traded higher after returning from a holiday. The ASX 200 advanced 1.59% to close at 6,546.30 as most sectors saw gains.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: eustance huang
Keywords: news, cnbc, companies, mainland, close, investment, shenzhen, boost, china, trading, shares, jump, rose, soared, infrastructure, index, local


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Shares in Asia rise as European central bank delays rate hike

Stocks in Asia advanced on Friday following positive developments overnight on U.S.-Mexico negotiations, while investors digested recent comments from major central bank chiefs. The Nikkei 225 in Japan rose 0.53% to close at 20,884.71, with shares of robot maker Fanuc gaining 0.99%. The Topix index also advanced 0.49% to finish its trading day at 1,532.39. Over in South Korea, the Kospi rose 0.16% to end its trading day at 2,072.33. The MSCI Asia-ex Japan index rose 0.11% to 501.99, as of 2:55 p


Stocks in Asia advanced on Friday following positive developments overnight on U.S.-Mexico negotiations, while investors digested recent comments from major central bank chiefs. The Nikkei 225 in Japan rose 0.53% to close at 20,884.71, with shares of robot maker Fanuc gaining 0.99%. The Topix index also advanced 0.49% to finish its trading day at 1,532.39. Over in South Korea, the Kospi rose 0.16% to end its trading day at 2,072.33. The MSCI Asia-ex Japan index rose 0.11% to 501.99, as of 2:55 p
Shares in Asia rise as European central bank delays rate hike Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: eustance huang
Keywords: news, cnbc, companies, index, close, advanced, topix, hike, asia, trading, rose, usmexico, rate, european, stocks, shares, day, japan, bank, central, rise, delays


Shares in Asia rise as European central bank delays rate hike

Stocks in Asia advanced on Friday following positive developments overnight on U.S.-Mexico negotiations, while investors digested recent comments from major central bank chiefs.

The Nikkei 225 in Japan rose 0.53% to close at 20,884.71, with shares of robot maker Fanuc gaining 0.99%. The Topix index also advanced 0.49% to finish its trading day at 1,532.39.

In Australia, the ASX 200 gained 0.95% to close at 6,443.90 as most of the sectors rose. Over in South Korea, the Kospi rose 0.16% to end its trading day at 2,072.33.

The MSCI Asia-ex Japan index rose 0.11% to 501.99, as of 2:55 pm. HK/SIN.

Markets in China and Hong Kong were closed on Friday for a holiday.


Company: cnbc, Activity: cnbc, Date: 2019-06-07  Authors: eustance huang
Keywords: news, cnbc, companies, index, close, advanced, topix, hike, asia, trading, rose, usmexico, rate, european, stocks, shares, day, japan, bank, central, rise, delays


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Europe markets close mixed as ECB strikes a dovish tone

The pan-European Stoxx 600 closed provisionally just below the flatline, with sectors and major bourses in mixed territory. European stocks closed mixed Thursday as the European Central Bank revised its forward guidance in its latest policy decision. The ECB announced that it would delay its first post-crisis interest rate hike until at least the middle of next year, while announcing generous terms on a new batch of long-term loans for banks. In a statement, the ECB said it would hold its key po


The pan-European Stoxx 600 closed provisionally just below the flatline, with sectors and major bourses in mixed territory. European stocks closed mixed Thursday as the European Central Bank revised its forward guidance in its latest policy decision. The ECB announced that it would delay its first post-crisis interest rate hike until at least the middle of next year, while announcing generous terms on a new batch of long-term loans for banks. In a statement, the ECB said it would hold its key po
Europe markets close mixed as ECB strikes a dovish tone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: elliot smith alexandra gibbs, elliot smith, alexandra gibbs
Keywords: news, cnbc, companies, markets, close, tone, dovish, strikes, closed, rate, policy, interest, mixed, euro, trillion, europe, ecb, bank, central


Europe markets close mixed as ECB strikes a dovish tone

The pan-European Stoxx 600 closed provisionally just below the flatline, with sectors and major bourses in mixed territory.

European stocks closed mixed Thursday as the European Central Bank revised its forward guidance in its latest policy decision.

The ECB announced that it would delay its first post-crisis interest rate hike until at least the middle of next year, while announcing generous terms on a new batch of long-term loans for banks.

In a statement, the ECB said it would hold its key policy rate at the current -0.4% and continue to reinvest in maturing bonds in its 2.6 trillion euro ($2.9 trillion) debt portfolio. The central bank also announced it will pay lenders an interest rate of up to 0.3% to borrow. The euro rose to a day’s high on the news.

“The prolonged presence of uncertainties related to geopolitical factors, the rising threat of protectionism and vulnerabilities in emerging markets is leaving its mark on economic sentiment,” ECB President Mario Draghi said, as he addressed reporters during a news conference in Vilnius, Lithuania.

“Looking ahead, the governing council is determined to act in case of adverse contingencies.”


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: elliot smith alexandra gibbs, elliot smith, alexandra gibbs
Keywords: news, cnbc, companies, markets, close, tone, dovish, strikes, closed, rate, policy, interest, mixed, euro, trillion, europe, ecb, bank, central


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European stocks close mostly higher; Italian banks fall on EU ruling

European stocks closed mostly higher Wednesday but the rally lost steam after the EU ruled Italy was in breach of fiscal rules. Out of the major indexes, Italy’s FTSE MIB was among the worst performers amid news that the European Commission had threatened disciplinary measures on the country over its rising public debt. Italian bond yields rose and bank stocks fell shortly after the conclusion that Italy’s growing debt warrants disciplinary proceedings from the bloc. The Fed chief signaled the c


European stocks closed mostly higher Wednesday but the rally lost steam after the EU ruled Italy was in breach of fiscal rules. Out of the major indexes, Italy’s FTSE MIB was among the worst performers amid news that the European Commission had threatened disciplinary measures on the country over its rising public debt. Italian bond yields rose and bank stocks fell shortly after the conclusion that Italy’s growing debt warrants disciplinary proceedings from the bloc. The Fed chief signaled the c
European stocks close mostly higher; Italian banks fall on EU ruling Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: elliot smith alexandra gibbs, elliot smith, alexandra gibbs
Keywords: news, cnbc, companies, disciplinary, higher, ruling, close, italys, eu, powell, fed, indexes, investors, banks, rose, fall, italian, stocks, european, bank, central


European stocks close mostly higher; Italian banks fall on EU ruling

The pan-European Stoxx 600 closed provisionally up 0.3%, with utilities stocks making a nearly 1.3% gain while banks were one of a handful of sectors to fall into the red, slipping 0.5%.

European stocks closed mostly higher Wednesday but the rally lost steam after the EU ruled Italy was in breach of fiscal rules.

Out of the major indexes, Italy’s FTSE MIB was among the worst performers amid news that the European Commission had threatened disciplinary measures on the country over its rising public debt. The bourse was off by 0.35%.

Italian bond yields rose and bank stocks fell shortly after the conclusion that Italy’s growing debt warrants disciplinary proceedings from the bloc. The country’s banking sector dipped almost 2%, while the yield on the 10-year bond rose to a day’s high of 2.6%.

Another main focus for investors Wednesday were recent comments from U.S. Federal Reserve Chair Jerome Powell. The Fed chief signaled the central bank was open to easing monetary policy, in comments that fueled speculation of a potential interest rate cut this year.

On Tuesday, the Fed Chair stated that the central bank would be keeping an eye on current developments in the economy, and would do what it must do, in order to “sustain the expansion. ” Powell did, however, note that the central bank could not determine when or how global trade issues would be settled.

On Wall Street, investors increased their bets the institution could lower rates soon, with the Dow Jones Industrial Average jumping almost 140 points. The S&P 500 and Nasdaq indexes were also in positive territory.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: elliot smith alexandra gibbs, elliot smith, alexandra gibbs
Keywords: news, cnbc, companies, disciplinary, higher, ruling, close, italys, eu, powell, fed, indexes, investors, banks, rose, fall, italian, stocks, european, bank, central


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CVS to close some unprofitable stores as pharmacy chain looks to expand new HealthHUBs

CVS Health will close some unprofitable locations as it redesigns about 15% of its 9,800 stores to focus more on health services, a top executive said at the company’s investor day meeting in New York on Tuesday. CVS plans to remodel 1,500 locations by 2021 into its new HealthHUB format, which offers services like health screenings and blood tests. “We will also close stores,” he said, noting that CVS shuttered “a couple hundred” in the past few years after the company stopped selling cigarettes


CVS Health will close some unprofitable locations as it redesigns about 15% of its 9,800 stores to focus more on health services, a top executive said at the company’s investor day meeting in New York on Tuesday. CVS plans to remodel 1,500 locations by 2021 into its new HealthHUB format, which offers services like health screenings and blood tests. “We will also close stores,” he said, noting that CVS shuttered “a couple hundred” in the past few years after the company stopped selling cigarettes
CVS to close some unprofitable stores as pharmacy chain looks to expand new HealthHUBs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: angelica lavito
Keywords: news, cnbc, companies, chain, plans, looks, health, expand, renewal, pharmacy, unprofitable, services, healthhubs, leases, stores, close, overall, cvs, locations


CVS to close some unprofitable stores as pharmacy chain looks to expand new HealthHUBs

CVS Health will close some unprofitable locations as it redesigns about 15% of its 9,800 stores to focus more on health services, a top executive said at the company’s investor day meeting in New York on Tuesday.

CVS plans to remodel 1,500 locations by 2021 into its new HealthHUB format, which offers services like health screenings and blood tests. It also plans to open new stores in “high-growth markets” as well as in areas of the country where it doesn’t have much of a presence, like the Pacific Northwest, CVS Pharmacy President Kevin Hourican said.

“We will also close stores,” he said, noting that CVS shuttered “a couple hundred” in the past few years after the company stopped selling cigarettes in 2014 and lost the bulk of sales there. Leases on roughly 500 locations come up for renewal every year and are regularly reviewed to see how profitable they are, he said.

“As these stores come due, we will closely evaluate our best financial options for those specific locations, with the goal of improving our overall productivity of our fleet,” he said.

CVS in May said it decided to close 46 underperforming stores. Hourican told CNBC in a separate interview Monday that he does not anticipate any “meaningful” store closures this year.

“When our leases are up for renewal … we will evaluate each and every single one of those locations to determine the best possible outcome for the overall environment from a profit improvement perspective,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: angelica lavito
Keywords: news, cnbc, companies, chain, plans, looks, health, expand, renewal, pharmacy, unprofitable, services, healthhubs, leases, stores, close, overall, cvs, locations


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European markets close higher; Axel Springer leaps on KKR investment talks

European markets recovered steadily Thursday but remained on course for the year’s biggest monthly decline amid persistent escalations of the U.S.-China trade war. The pan-European Euro Stoxx 600 finished provisionally up by 0.6% in afternoon trade, led by media stocks with a climb of 1.8%, although autos lost ground on average. The FTSE 100 ended up 0.5% higher, while markets in France and Germany made similar gains. In terms of individual stocks, German publisher Axel Springer soared 22% after


European markets recovered steadily Thursday but remained on course for the year’s biggest monthly decline amid persistent escalations of the U.S.-China trade war. The pan-European Euro Stoxx 600 finished provisionally up by 0.6% in afternoon trade, led by media stocks with a climb of 1.8%, although autos lost ground on average. The FTSE 100 ended up 0.5% higher, while markets in France and Germany made similar gains. In terms of individual stocks, German publisher Axel Springer soared 22% after
European markets close higher; Axel Springer leaps on KKR investment talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: elliot smith
Keywords: news, cnbc, companies, talks, markets, springer, minerals, kkr, rare, higher, chinese, european, stocks, afternoon, earth, investment, leaps, threat, zhang, close, axel, trade


European markets close higher; Axel Springer leaps on KKR investment talks

European markets recovered steadily Thursday but remained on course for the year’s biggest monthly decline amid persistent escalations of the U.S.-China trade war.

The pan-European Euro Stoxx 600 finished provisionally up by 0.6% in afternoon trade, led by media stocks with a climb of 1.8%, although autos lost ground on average.

The FTSE 100 ended up 0.5% higher, while markets in France and Germany made similar gains.

In terms of individual stocks, German publisher Axel Springer soared 22% after it revealed talks were underway with private equity house KKR over a potential strategic investment. Shares of Swedish radiation company Elekta continued to soar, adding almost 19% to Wednesday’s gains on the back of strong fourth-quarter results.

Danish medical equipment maker Ambu traded 6.2% lower in the afternoon session, its share price continuing to suffer two weeks on from its CEO stepping down on May 15.

The Chinese state newspaper Wednesday used the history-laden phrase “don’t say we didn’t warn you,” indicating escalating trade tensions between the world’s largest economies. Chinese Vice Foreign Minister Zhang Hanhui followed this up Thursday by equating U.S. trade provocations to “naked economic terrorism.”

The focus of China’s renewed threat has been on its dominance in rare earth minerals, which are crucial to the production of a host of technology products, including iPhones and electric vehicles. The Pentagon is reportedly working to reduce U.S. reliance on Chinese rare earth minerals in light of the threat.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: elliot smith
Keywords: news, cnbc, companies, talks, markets, springer, minerals, kkr, rare, higher, chinese, european, stocks, afternoon, earth, investment, leaps, threat, zhang, close, axel, trade


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Major Asian markets decline as US-China trade concerns weigh

Stocks in major Asia Pacific markets mostly slipped on Thursday as increasing tensions between the U.S. and China weighed on investor sentiment. The Nikkei 225 in Japan slipped 0.29% to close at 20,942.53, as shares of index heavyweights Fast Retailing and Softbank Group declined more than 1% each. Mainland Chinese shares declined on the day, with the Shanghai composite slipping 0.31% to 2,905.81 and the Shenzhen component shedding 0.74% to 8,943.35. The Shenzhen composite also fell 0.625% to cl


Stocks in major Asia Pacific markets mostly slipped on Thursday as increasing tensions between the U.S. and China weighed on investor sentiment. The Nikkei 225 in Japan slipped 0.29% to close at 20,942.53, as shares of index heavyweights Fast Retailing and Softbank Group declined more than 1% each. Mainland Chinese shares declined on the day, with the Shanghai composite slipping 0.31% to 2,905.81 and the Shenzhen component shedding 0.74% to 8,943.35. The Shenzhen composite also fell 0.625% to cl
Major Asian markets decline as US-China trade concerns weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: eustance huang
Keywords: news, cnbc, companies, fell, major, composite, declined, asia, markets, decline, shares, shenzhen, uschina, day, slipped, asian, concerns, index, weigh, close, trade


Major Asian markets decline as US-China trade concerns weigh

Stocks in major Asia Pacific markets mostly slipped on Thursday as increasing tensions between the U.S. and China weighed on investor sentiment.

The Nikkei 225 in Japan slipped 0.29% to close at 20,942.53, as shares of index heavyweights Fast Retailing and Softbank Group declined more than 1% each. The Topix index also fell 0.29% to finish its trading day at 1,531.98.

In Australia, the ASX 200 shed 0.74% to close at 6,392.10 as almost all the sectors declined.

Mainland Chinese shares declined on the day, with the Shanghai composite slipping 0.31% to 2,905.81 and the Shenzhen component shedding 0.74% to 8,943.35. The Shenzhen composite also fell 0.625% to close at 1,532.03.

Over in Hong Kong, the Hang Seng index was lower by around 0.3%, as of its final hour of trading.

South Korea’s Kospi bucked the overall trend as it rose 0.77% to close at 2,038.80, with shares of industry heavyweight Samsung Electronics gaining 1.79%. The MSCI Asia ex-Japan index was also 0.24% higher at 498.17, as of 3:10 p.m. HK/SIN.


Company: cnbc, Activity: cnbc, Date: 2019-05-30  Authors: eustance huang
Keywords: news, cnbc, companies, fell, major, composite, declined, asia, markets, decline, shares, shenzhen, uschina, day, slipped, asian, concerns, index, weigh, close, trade


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Dressbarn is about to close 650 stores — here’s a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl


Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl
Dressbarn is about to close 650 stores — here’s a map of these locations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


Dressbarn is about to close 650 stores — here's a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business.

Ascena has built up a portfolio of apparel brands over the past decade through acquisitions, including plus-size retailer Lane Bryant and women’s apparel brand Ann Taylor. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load.

Same-store sales for the year ended July 2018 were down 2%, according to Factset. The company had $1.33 billion in total debt, in the same period. Shares of the company, which have a market value of $214.4 million, are down 55% year-to-date

Looking to stem the losses, Ascena is turning to pruning its less successful brands.

“We are committed to addressing performance at our under-performing brands, and continue to explore opportunities within our portfolio that can allow us to focus capital and management attention on those brands that we believe can deliver sustained growth and profitability by maintaining a differentiated position in the marketplace,” said former CEO David Jaffe in March.

Jaffe retired as CEO and chairman earlier this month. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands.

Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Its sales that quarter represented roughly 10% of Ascena’s overall brands.

Ascena, which did not lay out a timeline for the Dressbarn closures, said in a statement Monday customers can continue to shop online and in-stores, where they can get “even better deals and value.”

Ascena earlier this month completed the sale of its Maurice’s brand to an affiliate of OpCapita for roughly $300 million.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


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Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather. Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68. The Topix index also declined 0.3% to finish its trading day at 1,550.30. The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.
Stocks in Asia mostly turn around as US-China trade tensions take a breather Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
Keywords: news, cnbc, companies, turn, stocks, asia, uschina, trade, shares, tensions, trading, rose, index, higher, declined, day, breather, composite, shenzhen, close


Stocks in Asia mostly turn around as US-China trade tensions take a breather

Stocks in Asia were mostly higher on Tuesday as a temporary reprieve in U.S.-China trade tensions provided a breather.

Mainland Chinese shares rose on the day, with the Shanghai composite gaining 1.23% to 2,905.97 and the Shenzhen component adding 1.92% to 9,087.52. The Shenzhen composite advanced 1.771% to 1,548.68.

Over in South Korea, the Kospi rose 0.27% to close at 2,061.25 as shares of Samsung Electronics surged 2.74% following earlier news of Google suspending business activity with Huawei.

Australia’s ASX 200 was 0.37% higher to close at 6,500.10.

The Australian dollar last changed hands at $0.6877, off highs above $0.696 seen in the previous week. Australia’s central bank will consider the case for lower interest rates at its June policy meeting, Governor Philip Lowe said on Tuesday.

Elsewhere in Asia, however, the Nikkei 225 in Japan lost 0.14% to close at 21,272.45. Shares of Tokyo Electron fell 1.88%. The Topix index also declined 0.3% to finish its trading day at 1,550.30.

The Hang Seng index in Hong Kong declined around 0.5%, as of its final hour of trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: eustance huang
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European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre


European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre
European stocks close higher as trade fears fade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade.

The STOXX 600 closed provisionally up by around 1.2%, Chemicals leading the gains with a 2.54% climb, while autos struggled to make headway, slipping 0.6%.

Thyssenkrupp was the strongest performer, its stock rising 10.03% on reports that Finland’s Kone is assessing the viability of a bid for the German industrial company’s elevators division. Kone shares traded 4.98% higher.

The European Commission revealed Thursday that Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.

In Asia, shares were mixed in Thursday afternoon trade after the U.S. took aim at Huawei again, with President Donald Trump declaring a national emergency over threats against U.S. technology. The move, done via executive order, is expected to precede a ban on American firms dealing with the Chinese telecommunications company.

However, French President Emmanuel Macron spoke to CNBC Thursday and poured cold water on the idea of implementing protectionist measures on tech companies like Huawei.

Mainland Chinese and Hong Kong shares recovered from an early slip to trade slightly higher in the afternoon, while stocks in Japan and South Korea finished in the red.

Stateside, investors will be monitoring a volatile market environment after stocks rose Wednesday following multiple sources telling CNBC of the delay to auto tariffs. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace.

Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over threats against American technology.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


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