European stocks open slightly higher amid dovish Fed, Brexit uncertainty

Market participants continued to digest the latest monetary policy move from the Fed. The U.S. central bank on Wednesday abandoned all plans to raise interest rates this year, citing slowing economic activity, and said it would halt the decline of its balance sheet in September. In other central bank news, the Bank of England also kept rates unchanged on Thursday, and said its economic outlook would “continue to depend significantly” on the “nature and timing” of Brexit. The European Union agree


Market participants continued to digest the latest monetary policy move from the Fed. The U.S. central bank on Wednesday abandoned all plans to raise interest rates this year, citing slowing economic activity, and said it would halt the decline of its balance sheet in September. In other central bank news, the Bank of England also kept rates unchanged on Thursday, and said its economic outlook would “continue to depend significantly” on the “nature and timing” of Brexit. The European Union agree
European stocks open slightly higher amid dovish Fed, Brexit uncertainty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: ryan browne
Keywords: news, cnbc, companies, unchanged, slightly, european, amid, dovish, bank, central, withdrawal, economic, union, uncertainty, open, fed, depend, uks, higher, stocks, week, brexit, rates


European stocks open slightly higher amid dovish Fed, Brexit uncertainty

Market participants continued to digest the latest monetary policy move from the Fed. The U.S. central bank on Wednesday abandoned all plans to raise interest rates this year, citing slowing economic activity, and said it would halt the decline of its balance sheet in September.

In other central bank news, the Bank of England also kept rates unchanged on Thursday, and said its economic outlook would “continue to depend significantly” on the “nature and timing” of Brexit.

The European Union agreed to an extension to the date of the U.K.’s withdrawal from the bloc, but said the length of the delay would depend on whether Parliament approves Prime Minister Theresa May’s Brexit deal next week.


Company: cnbc, Activity: cnbc, Date: 2019-03-22  Authors: ryan browne
Keywords: news, cnbc, companies, unchanged, slightly, european, amid, dovish, bank, central, withdrawal, economic, union, uncertainty, open, fed, depend, uks, higher, stocks, week, brexit, rates


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If you invested $1,000 in General Motors in 2012, here’s how much you would have now

Shares of automaker General Motors fell more than 3 percent Wednesday after BMW warned of lower profits thanks to international trade tension and potential ripple effects from Brexit. In the same time frame, by comparison, the S&P 500 was up more than 100 percent. While the company’s stock has trended slightly upward over the years, any individual stock can over- or under-perform and past returns do not predict future results. CNBC: GM stock as of Mar. “Countermeasures by the USA’s trading partn


Shares of automaker General Motors fell more than 3 percent Wednesday after BMW warned of lower profits thanks to international trade tension and potential ripple effects from Brexit. In the same time frame, by comparison, the S&P 500 was up more than 100 percent. While the company’s stock has trended slightly upward over the years, any individual stock can over- or under-perform and past returns do not predict future results. CNBC: GM stock as of Mar. “Countermeasures by the USA’s trading partn
If you invested $1,000 in General Motors in 2012, here’s how much you would have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: shawn m carter
Keywords: news, cnbc, companies, stock, impact, trade, heres, motors, invested, industry, general, hit, economic, 1000, gm, company, companys


If you invested $1,000 in General Motors in 2012, here's how much you would have now

Shares of automaker General Motors fell more than 3 percent Wednesday after BMW warned of lower profits thanks to international trade tension and potential ripple effects from Brexit.

Still, if you invested in GM in 2012 — after the company officially came out of bankruptcy and began recovering from the major financial crisis that hit the auto industry — you would have made a profit, although a small one: According to CNBC calculations, a $1,000 investment made then would be worth just over $1,800 as of March 21, 2019, a total return over 80 percent. In the same time frame, by comparison, the S&P 500 was up more than 100 percent.

While the company’s stock has trended slightly upward over the years, any individual stock can over- or under-perform and past returns do not predict future results.

Some analysts anticipate problems for the auto industry overall. Per BMW’s annual report, “political and economic developments in Europe remain increasingly uncertain,” and the “unforeseeable impact of Brexit” could elevate trade tensions with the European Union and China.

CNBC: GM stock as of Mar. 21, 2019

“A possible introduction of further trade barriers … could have a significantly adverse impact on the BMW Group’s operations through less favorable conditions for importing vehicles,” the statement read. “Countermeasures by the USA’s trading partners could slow down global economic growth and have a greater-than-expected adverse impact on the export of vehicles.”

In an email to CNBC last month, CFRA analyst Garrett Nelson said, “we are very concerned about GM’s worsening vehicle sales trends,” which were down more than 13 percent in the fourth quarter, “and the company’s exposure to a slowing China market, which we think could challenge the company’s ability to hit their full year earnings guidance.”

President Donald Trump — who slammed GM in November after the company announced plans to cut 14,000 U.S. and Canadian jobs and cancel some of its popular car models — could also impose tariffs on cars imported to the United States. That idea is causing further investor anxiety.

Trump, who held a rally in Ohio on Wednesday, also put pressure on the company to reopen its plant in the state and reverse its plan to invest $2.65 billion in two of its Brazilian plants in Sao Paulo.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: shawn m carter
Keywords: news, cnbc, companies, stock, impact, trade, heres, motors, invested, industry, general, hit, economic, 1000, gm, company, companys


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Auto stocks fall after BMW warns of global economic slowdown, trade trouble

Shares of automakers fell Wednesday after BMW warned of lower profits, citing international trade tension and the potential impact of Brexit as possible drags on global economic growth. BMW executives said the industry faces a fiercely competitive environment, dogged by questions about how tariffs and trade tension between the U.S., China and Europe could affect supply chains, manufacturing and sales. “Political and economic developments in Europe remain increasingly uncertain,” BMW said in its


Shares of automakers fell Wednesday after BMW warned of lower profits, citing international trade tension and the potential impact of Brexit as possible drags on global economic growth. BMW executives said the industry faces a fiercely competitive environment, dogged by questions about how tariffs and trade tension between the U.S., China and Europe could affect supply chains, manufacturing and sales. “Political and economic developments in Europe remain increasingly uncertain,” BMW said in its
Auto stocks fall after BMW warns of global economic slowdown, trade trouble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: robert ferris, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, stocks, fell, global, vehicles, trouble, auto, impact, bmw, fall, economic, tension, tariffs, slowdown, trade, trading, warns


Auto stocks fall after BMW warns of global economic slowdown, trade trouble

Shares of automakers fell Wednesday after BMW warned of lower profits, citing international trade tension and the potential impact of Brexit as possible drags on global economic growth.

BMW executives said the industry faces a fiercely competitive environment, dogged by questions about how tariffs and trade tension between the U.S., China and Europe could affect supply chains, manufacturing and sales.

The news comes one day after FedEx executives expressed worries over a slowing global economy.

All three Detroit automakers declined in morning trading Wednesday. Shares of Ford fell 2.3 percent, Fiat Chrysler fell 2 percent and General Motors dipped 2.6 percent.

“Political and economic developments in Europe remain increasingly uncertain,” BMW said in its annual report Wednesday. It specifically cited the “unforeseeable impact of Brexit” and U.S. trade tensions with the European Union and China.

Politico also reported Wednesday that President Trump has the legal grounds impose tariffs on cars imported to the United States, further spooking investors.

“A possible introduction of further trade barriers, including anti-dumping customs duties and duties aimed at protecting national security by the U.S. administration, could have a significantly adverse impact on the BMW Group’s operations through less favorable conditions for importing vehicles,” BMW said. “Moreover, countermeasures by the USA’s trading partners could slow down global economic growth and have a greater-than-expected adverse impact on the export of vehicles produced in the USA.”

This is a breaking news story. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: robert ferris, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, stocks, fell, global, vehicles, trouble, auto, impact, bmw, fall, economic, tension, tariffs, slowdown, trade, trading, warns


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US economic growth is set to slow sharply this year and next, according to CNBC’s Fed survey

U.S. economic growth is set to slow sharply this year and next, according to respondents to the CNBC Fed Survey for March, and weaker global growth and tariffs are seen as the major culprits. Economic growth is seen stepping down below 2 percent in 2020, according to the survey. Source: CNBCThe outlook for slower growth has prompted the 43 survey respondents to lower their expectations for Fed rate hikes this year and next — barely forecasting one hike and some even seeing rate cuts on the horiz


U.S. economic growth is set to slow sharply this year and next, according to respondents to the CNBC Fed Survey for March, and weaker global growth and tariffs are seen as the major culprits. Economic growth is seen stepping down below 2 percent in 2020, according to the survey. Source: CNBCThe outlook for slower growth has prompted the 43 survey respondents to lower their expectations for Fed rate hikes this year and next — barely forecasting one hike and some even seeing rate cuts on the horiz
US economic growth is set to slow sharply this year and next, according to CNBC’s Fed survey Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: steve liesman
Keywords: news, cnbc, companies, trump, economic, slowing, slow, growth, points, sharply, trade, seen, fed, set, according, survey, cnbcs, tariffs, respondents


US economic growth is set to slow sharply this year and next, according to CNBC's Fed survey

U.S. economic growth is set to slow sharply this year and next, according to respondents to the CNBC Fed Survey for March, and weaker global growth and tariffs are seen as the major culprits.

The average forecast for gross domestic product growth this year is just 2.3 percent, down from 2.44 percent expected in the January survey and a further slowing from the actual 3.1 percent year-over-year pace for the fourth quarter of 2018. Economic growth is seen stepping down below 2 percent in 2020, according to the survey.

Source: CNBC

The outlook for slower growth has prompted the 43 survey respondents to lower their expectations for Fed rate hikes this year and next — barely forecasting one hike and some even seeing rate cuts on the horizon.

Asked about the biggest threats to the US expansion, slowing global growth and protectionist trade policies ranked No. 1 and No. 2, respectively.

“If Trump wants to be a two-term president, he needs to make a China trade deal and start lowering tariffs across the board,” said Hank Smith, co-chief investment officer, Haverford Trust Company. “This will cause business confidence to rise and capital spending to increase, stimulating the economy.”

A weak outlook for growth abroad knocked about 40 basis points (or 0.4 percentage points) off of GDP forecasts this year, according to respondents, who include economists, fund managers and strategists. Tariffs — both those put in place by the Trump administration and retaliatory tariffs from other countries — are estimated to take another 20 basis points off of growth.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: steve liesman
Keywords: news, cnbc, companies, trump, economic, slowing, slow, growth, points, sharply, trade, seen, fed, set, according, survey, cnbcs, tariffs, respondents


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China should quickly get out of its huge US trade problem

The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations. Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and it


The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations. Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and it
China should quickly get out of its huge US trade problem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: dr michael ivanovitch, visual china group, getty images
Keywords: news, cnbc, companies, quickly, china, trade, examinations, chinas, economic, monetary, americas, american, huge, international, problem, policies


China should quickly get out of its huge US trade problem

First, approach the issue with a sense of urgency it deserves. Promptly begin to diversify Chinese exports away from U.S. markets, and strongly step up purchases of American goods and services to quickly stop and markedly reverse the trend of China’s growing bilateral trade surpluses.

Second, with such a sincere show of good faith, Beijing should adopt regulatory changes offering internationally comparable guarantees for the protection of intellectual property and prohibition of forced technology transfers to Chinese joint-venture partners. China’s apparently large panoply of non-tariff barriers to trade should also be dismantled.

The vigilant members of the China-based American and international chambers of commerce, and the World Trade Organization, will serve as keen observers that China is properly implementing and enforcing its trade regulations.

Third, China can benefit from an enhanced International Monetary Fund surveillance, technically called Article IV consultations. That would make sure that China’s monetary, fiscal and structural economic policies — which include both domestic and foreign trade — are fully in compliance with international rules and best practice policies.

In addition to that, China may also wish to engage in extensive biannual economic examinations with the Organization of Economic Cooperation and Development to get an independent expert assessment of the entire spectrum of its economic policies. That’s what the OECD does well, and that could be a very useful source of unbiased advice. Such examinations would also shield China from widely publicized amateurish attacks on its economic management.

Fourth, the IMF consultations and the OECD’s biannual examinations would provide unimpeachable expert opinions on China’s monetary policies and its managed floating exchange rate. That would preserve China’s monetary sovereignty and offer much-needed advice about the country’s highly sensitive capital account transactions.

How China frames those steps within the ongoing trade negotiations with the United States is a matter of its own judgment.

But one thing should be clear: Dragging on the negotiating process while continuing to accumulate China’s huge surpluses on American trades is over. Washington has finally come to the point where it can no longer tolerate inconclusive talk fests while China laughs all the way to the bank.

To be sure, though, getting the trade surplus issue out of the way will not radically improve the U.S.-China relations. That’s impossible as long as America’s security experts consider China a “strategic competitor” and “a revisionist power” determined to challenge America’s world order.

One could expect, however, that a meaningful progress on bilateral trade problems could open more space to address acute security issues in a constructive manner, although, again, there is no guarantee for such an outcome. China’s contested maritime borders, Korean problems and Beijing’s Belt and Road transactions will remain America’s war and peace issues for the foreseeable future.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: dr michael ivanovitch, visual china group, getty images
Keywords: news, cnbc, companies, quickly, china, trade, examinations, chinas, economic, monetary, americas, american, huge, international, problem, policies


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Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook


The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows. Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook
Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


Credit Suisse raises S&P 500 forecast, sees 20% gain for 2019

Why Credit Suisse is positive on government bonds 12:45 AM ET Fri, 15 March 2019 | 02:19

That is because all the market risks that tanked stocks in December are now “receding,” according to Credit Suisse’s chief U.S. equity strategist, Jonathan Golub.

“Investors might be pleased with the market’s recent performance, but it’s unlikely they find the underlying dynamics—a more favorable risk backdrop, with decelerating economic and earnings growth—particularly inspiring,” Golub said.

“More specifically, less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher,” he added.

The market has staged a strong comeback with the S&P 500 up 20 percent from its Christmas Eve low when it dipped into a bear market on an intraday basis. Many have credited the massive sell-off to fears of a too-aggressive Federal Reserve and a possible recession. Now with the central bank signaling a “patient” approach to tightening and better-than-expected economic data, the rally may have more room to run.

The average S&P 500 target from the 17 top Wall Street analysts is 2,947, a CNBC analysis shows.

Credit Suisse actually lowered its 2019 earnings estimates for S&P 500 companies to $170 from $174 despite raising its stock price outlook. The firm says the reduced estimates are due to lower oil prices and large tech companies’ worsening outlooks.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: yun li
Keywords: news, cnbc, companies, lower, estimates, gain, economic, raises, stocks, suisse, fears, 20, forecast, credit, recession, 2019, 500, market, sp, sees


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Semiconductor rally faces a ‘collapse’, economic forecaster warns

Achuthan believes the semiconductor rally is showing signs of breaking down, and he’s blaming shipment demand. “Collapse comes to mind when you look at global demand for semiconductor chips,” he said Friday on CNBC’s “Trading Nation.” Achuthan, who co-founded the Economic Cycle Research Institute, builds his bearish case with a chart showing semiconductor chip demand. “We’ve got a 20 percent decline in the volume of semiconductor demand, and that translates to a ten year low in the growth rate o


Achuthan believes the semiconductor rally is showing signs of breaking down, and he’s blaming shipment demand. “Collapse comes to mind when you look at global demand for semiconductor chips,” he said Friday on CNBC’s “Trading Nation.” Achuthan, who co-founded the Economic Cycle Research Institute, builds his bearish case with a chart showing semiconductor chip demand. “We’ve got a 20 percent decline in the volume of semiconductor demand, and that translates to a ten year low in the growth rate o
Semiconductor rally faces a ‘collapse’, economic forecaster warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: stephanie landsman, victor j blue, bloomberg, getty images, joan cros garcia, corbis, gari garaialde, bryan r smith, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, semiconductor, warns, showing, demandits, economic, achuthan, comes, quarter, forecaster, collapse, faces, rally, demand, growth


Semiconductor rally faces a 'collapse', economic forecaster warns

Economic forecaster Lakshman Achuthan is warning investors they could get scorched by one of 2019’s most popular groups.

Achuthan believes the semiconductor rally is showing signs of breaking down, and he’s blaming shipment demand.

“Collapse comes to mind when you look at global demand for semiconductor chips,” he said Friday on CNBC’s “Trading Nation.”

Achuthan, who co-founded the Economic Cycle Research Institute, builds his bearish case with a chart showing semiconductor chip demand.

“It’s a pretty dramatic comedown,” he said. “We’ve got a 20 percent decline in the volume of semiconductor demand, and that translates to a ten year low in the growth rate of demand.”

It’s a contrarian call that comes with semiconductors locking in their best day since January 30 on Friday. The VanEck Vectors Semiconductor ETF, which tracks the group, is up almost 22 percent so far this quarter. It’s on pace for its best first quarter since its May 2000 inception date.

The bullish sentiment behind the semiconductor rally is centered on forward looking, misguided assumptions about growth, Achuthan said. He ties the continued sluggishness to a slowdown in the overall U.S. economy.

“Demand for a product that these companies sell, that’s not going to go up. There’s no rebound in sight,” Achuthan said.


Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: stephanie landsman, victor j blue, bloomberg, getty images, joan cros garcia, corbis, gari garaialde, bryan r smith, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, semiconductor, warns, showing, demandits, economic, achuthan, comes, quarter, forecaster, collapse, faces, rally, demand, growth


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Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai


Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai
Thailand election: Economic growth, income inequality are key issues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass.

Last year, the Thai stock market suffered a record $9 billion in foreign investment outflows as investors withdrew from emerging markets amid rising interest rates in the U.S. and global economic concerns. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front.

The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. The vote is set to be a contest between three political fractions:

A pro-military camp that include the Palang Pracharat Party, which named current Prime Minister Prayuth Chan-o-cha as its candidate to lead the country.

An anti-military camp that consist of the Pheu Thai Party — which is linked to exiled former Prime Minister Thaksin Shinawatra — and the newly founded Future Forward Party.

A group of parties that are neutral or undecided on which side they would align, including the Democrat Party led by another former prime minister, Abhisit Vejjajiva, and Bhumjaithai Party, which recently made headlines for its promotion of marijuana as a new cash crop in Thailand.

None of the parties are expected to single-handedly win enough seats to form the next government, which means the most likely scenario is a coalition administration. That may be challenging, however, in a polarized political environment like Thailand, analysts said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


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Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded


Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded
Asia markets: Brexit deal, pound and China economic data in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place.

The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29.

In South Korea, the Kospi wavered between gains and losses to close up 0.34 percent at 2,155.68. Hong Kong’s Hang Seng Index was down 0.22 percent in afternoon trade.

Chinese mainland shares withdrew as the Shanghai composite fell 1.2 percent to 2,990.68 while the Shenzhen composite tumbled 2.311 percent.

Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. That further pointed to an economic slowdown in the world’s second-largest economy. But investments picked up pace as the government fast-tracked more road and rail projects, the news agency added.

Beijing has already pledged hundreds of billions of dollars in tax cuts and infrastructure spending to support the flagging economy.

The on-shore yuan traded at 6.7134 to the dollar at 2:44 p.m. HK/SIN after the People’s Bank of China set the day’s yuan midpoint at 6.7009. China’s central bank allows the currency exchange rate to rise or fall 2 percent from the midpoint rate.

Australia’s benchmark ASX 200 closed up 0.3 percent at 6,179.60.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


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Greece is ‘now among the top performers in the euro zone,’ IMF says

Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF). In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress. We expect growth to accelerate to nearly 2.5 percent this year from around


Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF). In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress. We expect growth to accelerate to nearly 2.5 percent this year from around
Greece is ‘now among the top performers in the euro zone,’ IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: holly ellyatt, angelos tzortzinis, bloomberg, getty images
Keywords: news, cnbc, companies, economy, greece, euro, european, expect, economic, growth, zone, performers, positive, report, imf


Greece is 'now among the top performers in the euro zone,' IMF says

Greece, the euro zone economy that suffered the most during the sovereign debt crisis and a country with the highest debt and unemployment, is now “among the top performers in the euro zone,” according to the International Monetary Fund (IMF).

In a new report on the Greek economy, the IMF – which was one of Greece’s principal lenders in bailouts during its economic crisis – said Greece had made positive economic progress.

“There are a lot of positive developments to point to. We expect growth to accelerate to nearly 2.5 percent this year from around 2 percent in 2018. This puts Greece in the upper tier of the euro zone growth table,” the IMF’s mission chief for Greece Peter Dohlman said in a report Tuesday.

“The government is meeting its ambitious fiscal targets agreed with European member states, though not without some cost to growth. Market access has been re-established with two successful government bond issuances this year.”

“We also see normalization in other areas. For example, customers are now free to move their cash to any bank in Greece, and the banks themselves have almost fully repaid emergency liquidity assistance provided by the European Central Bank. Over the medium-term, we expect growth to gradually moderate as the economy reaches full employment,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: holly ellyatt, angelos tzortzinis, bloomberg, getty images
Keywords: news, cnbc, companies, economy, greece, euro, european, expect, economic, growth, zone, performers, positive, report, imf


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