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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Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun


Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun
Asia trades mixed amid growing concerns over global growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week.

Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81.

The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. The People’s Bank of China is expected to ease monetary policy further to encourage lending as it seeks to support the country’s slowing economy. Its head, Governor Yi Gang, reportedly said on Sunday the central bank will not use the exchange rate to boost its exports or as a tool in trade frictions.

Japan’s Nikkei 225 see-sawed between gains and losses to finish up 0.47 percent at 21,125.09 while the Topix index added 0.57 percent to 1,581.44.

Nissan shares advanced 1.11 percent as the company’s former boss, Carlos Ghosn, is reportedly seeking permission from the Tokyo District Court to attend the automaker’s board meeting on Tuesday, Reuters said, citing a source.

Ghosn, the former Nissan chairman, was released from a detention center in Tokyo last week on $9 million in bail after being detained for more than 100 days on financial misconduct charges. He has called those charges “meritless.”

In South Korea, the Kospi was near flat at 2,138.10 while major indexes in Singapore and Malaysia struggled for gains in afternoon trade. Hong Kong’s Hang Seng index traded up 0.93 percent. Indian stocks rose after the country on Sunday announced it will hold parliamentary election in seven stages starting April 11. The Nifty 50 was up 1.09 percent while the Indian rupee traded around 69.91 to the dollar at 3:21 p.m. HK/SIN, strengthening from levels above 70.40 last week.

The ASX 200 in Australia fell 0.38 percent to 6,180.20 as most sectors declined. The energy sector was down 1.55 percent as oil stocks retreated: Shares of Santos were down 2.16 percent, Oil Search lower by 1.99 percent and Woodside Petroleum declined 1.73 percent.

Oil prices were under pressure on Friday following data that showed U.S. job gains came to a grinding halt in February while Chinese imports and exports last month slumped. The European Central Bank also slashed its growth outlook for the euro zone.

U.S. crude rose 0.66 percent to $56.44 a barrel on Monday afternoon during Asian hours while international benchmark Brent was up 0.58 percent at $66.12.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


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These stocks are thousands of times higher than they traded when the market hit its crisis-era low

Since the market bottomed during the financial crisis, the S&P 500 has gained more than 312 percent, but some individual stocks have gained thousands of times over. The S&P 500 cratered on March 6, 2009, when it reached an intraday low of 666. CNBC studied the price performance of stocks in the S&P that were publicly traded 10 years ago. Amazon has gained 2,700 percent from that 2009 low. WATCH: If You Invested In Apple And Amazon In 2009 Here’s What You’d Have Now


Since the market bottomed during the financial crisis, the S&P 500 has gained more than 312 percent, but some individual stocks have gained thousands of times over. The S&P 500 cratered on March 6, 2009, when it reached an intraday low of 666. CNBC studied the price performance of stocks in the S&P that were publicly traded 10 years ago. Amazon has gained 2,700 percent from that 2009 low. WATCH: If You Invested In Apple And Amazon In 2009 Here’s What You’d Have Now
These stocks are thousands of times higher than they traded when the market hit its crisis-era low Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: patti domm, gina francolla, carlo allegri
Keywords: news, cnbc, companies, crisisera, sp, hit, low, amazon, stocks, youd, tuesdays, higher, thousands, traded, gained, 2009, 500, ulta, times, market


These stocks are thousands of times higher than they traded when the market hit its crisis-era low

Since the market bottomed during the financial crisis, the S&P 500 has gained more than 312 percent, but some individual stocks have gained thousands of times over.

The S&P 500 cratered on March 6, 2009, when it reached an intraday low of 666. Its closing low came three days later, on March 9, at 676.

CNBC studied the price performance of stocks in the S&P that were publicly traded 10 years ago. In a list of the top 25, the top-performing stock was Ulta Beauty, which is up more than 7,100 percent since then. It is followed by Abiomed and Netflix, both up more than 6,000 percent. Amazon has gained 2,700 percent from that 2009 low. All prices are as of Tuesday’s close.

WATCH: If You Invested In Apple And Amazon In 2009 Here’s What You’d Have Now


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: patti domm, gina francolla, carlo allegri
Keywords: news, cnbc, companies, crisisera, sp, hit, low, amazon, stocks, youd, tuesdays, higher, thousands, traded, gained, 2009, 500, ulta, times, market


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Elastic shares fall after software company’s post-IPO lock-up period expires

Elastic shares dropped 3.5 percent Wednesday after the software company’s initial post-IPO lock-up period expired, allowing insiders to sell stock for the first time. In its IPO prospectus, Elastic said the lock-up period would cover the traditional 180 days after the offering, which would be early April. On Wednesday, trading volume topped 2.3 million shares, making it the most active day for Elastic since its debut on Oct. 5. Lock-up expirations have hit other technology companies in recent ye


Elastic shares dropped 3.5 percent Wednesday after the software company’s initial post-IPO lock-up period expired, allowing insiders to sell stock for the first time. In its IPO prospectus, Elastic said the lock-up period would cover the traditional 180 days after the offering, which would be early April. On Wednesday, trading volume topped 2.3 million shares, making it the most active day for Elastic since its debut on Oct. 5. Lock-up expirations have hit other technology companies in recent ye
Elastic shares fall after software company’s post-IPO lock-up period expires Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: jordan novet, index ventures
Keywords: news, cnbc, companies, stock, shares, postipo, software, period, fall, lockup, elastic, companys, traded, ipo, day, trading, volume, expires


Elastic shares fall after software company's post-IPO lock-up period expires

Elastic shares dropped 3.5 percent Wednesday after the software company’s initial post-IPO lock-up period expired, allowing insiders to sell stock for the first time.

Elastic, which provides open-source search software used by businesses, went public in October at $36 a share and the stock has since surged, closing on Tuesday at $87.14. Last week the company said that 25 percent of the shares that have been subject to lock-up agreements will be released and available for sale, so long as the stock’s closing price on Monday was at least 33 percent higher than the IPO price.

In its IPO prospectus, Elastic said the lock-up period would cover the traditional 180 days after the offering, which would be early April. But conditions were met to accelerate the process.

On Wednesday, trading volume topped 2.3 million shares, making it the most active day for Elastic since its debut on Oct. 5. For the third consecutive day the stock moved more than 3 percent lower.

Lock-up expirations have hit other technology companies in recent years, including Nutanix, Pivotal and Roku, introducing sudden dips and spikes in trading volume. Elastic has been lightly traded to date, because only 29 percent of the shares outstanding were available to be traded, with the rest owned by insiders, primarily early employees and venture investors. Large shareholders include Australia’s Future Fund Management Agency, Morgan Stanley, venture-capital firm Benchmark and co-founders Shay Banon and Steven Schuurman.

Often, fewer than 500,000 shares have been traded per day, less than other companies that have gone public recently, like Anaplan, SurveyMonkey and Upwork.

On Tuesday, analysts at Oppenheimer and Co. initiated coverage of Elastic with an outperform rating and a $110 price target.

“We see a long runway for growth and believe current expectations under-appreciate Elastic’s applicability, revenue upside potential” and ability to grow beyond search, the analysts wrote.

WATCH: Elastic CEO on NYSE IPO


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: jordan novet, index ventures
Keywords: news, cnbc, companies, stock, shares, postipo, software, period, fall, lockup, elastic, companys, traded, ipo, day, trading, volume, expires


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Gap will split into two publicly traded companies; stock surges

Old Navy, meanwhile, brings in about $8 billion in annual sales by itself. Old Navy has been successful in targeting shoppers on a budget, rivaling off-price channels like T.J. Maxx and Ross Stores. Sonia Syngal, currently president and CEO of Old Navy, will lead the new public, stand-alone Old Navy company. “Old Navy is Gap Inc.’s leading brand comprising 47 percent of sales in 2018 with margins that lead its portfolio,” Boni said. To revive the Gap brand, it said it’s working on multiple initi


Old Navy, meanwhile, brings in about $8 billion in annual sales by itself. Old Navy has been successful in targeting shoppers on a budget, rivaling off-price channels like T.J. Maxx and Ross Stores. Sonia Syngal, currently president and CEO of Old Navy, will lead the new public, stand-alone Old Navy company. “Old Navy is Gap Inc.’s leading brand comprising 47 percent of sales in 2018 with margins that lead its portfolio,” Boni said. To revive the Gap brand, it said it’s working on multiple initi
Gap will split into two publicly traded companies; stock surges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: lauren thomas, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, brand, surges, companies, sales, stock, publicly, peck, gap, namesake, billion, business, old, traded, sharpened, split, navy


Gap will split into two publicly traded companies; stock surges

Old Navy, meanwhile, brings in about $8 billion in annual sales by itself. This brand has notably been the strongest within the company as Gap’s namesake label has struggled to grow sales of late. Old Navy has been successful in targeting shoppers on a budget, rivaling off-price channels like T.J. Maxx and Ross Stores.

Gap’s current CEO, Art Peck, will remain at the company and become chief executive of “NewCo,” Gap said. Sonia Syngal, currently president and CEO of Old Navy, will lead the new public, stand-alone Old Navy company.

The spinoff should help both companies operate with “a sharpened strategic focus and tailored operating structure,” Peck said in a statement. The transaction is expected to be completed in 2020, subject to final approval by Gap’s board of directors.

Christina Boni, an analyst at Moody’s, agreed the split-up will help enable a sharpened focus on its business priorities. However, she warned it will also reduce the business’ diversification.

“Old Navy is Gap Inc.’s leading brand comprising 47 percent of sales in 2018 with margins that lead its portfolio,” Boni said. “Old Navy continues to outpace Gap Brand and Banana Republic and is one the fastest-growing major apparel brands with comparable stores of 3 percent in 2018 growing to over $7.8 billion in 2018.”

Gap also on Thursday announced it plans to shut 230 of the namesake brand’s locations over the next two years, as it works to restructure its business. The retailer posted mixed results for the holiday quarter. To revive the Gap brand, it said it’s working on multiple initiatives to fix the fit of its products and “modernize its marketing.”

Gap shares have fallen roughly 20 percent over the past 12 months, bringing its market cap to about $9.7 billion.


Company: cnbc, Activity: cnbc, Date: 2019-02-28  Authors: lauren thomas, mark kauzlarich, bloomberg, getty images
Keywords: news, cnbc, companies, brand, surges, companies, sales, stock, publicly, peck, gap, namesake, billion, business, old, traded, sharpened, split, navy


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The last three times this chip stock traded here it soared nearly 50%

The stock is down 8 percent for the year, the sole stock on the SMH semiconductor ETF in the red for 2019. “The $50 has been incredibly good support for the stock for the last three years-plus. The last three times Qualcomm bumped against $50 a share — in early 2016, mid-2016 and early 2018 — the stock raced higher, even moving above $75 last year. S&P Global portfolio manager Erin Gibbs says the stock may not see a breakout as large as 50 percent, but the stock does offer some value to a buy-an


The stock is down 8 percent for the year, the sole stock on the SMH semiconductor ETF in the red for 2019. “The $50 has been incredibly good support for the stock for the last three years-plus. The last three times Qualcomm bumped against $50 a share — in early 2016, mid-2016 and early 2018 — the stock raced higher, even moving above $75 last year. S&P Global portfolio manager Erin Gibbs says the stock may not see a breakout as large as 50 percent, but the stock does offer some value to a buy-an
The last three times this chip stock traded here it soared nearly 50% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: keris lahiff, justin sullivan, getty images, tasos katopodis, source, adam jeffery, apex legends, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, 50, qualcomm, nearly, chip, upside, gibbs, times, soared, value, traded, gotten, stock, trading, bounced


The last three times this chip stock traded here it soared nearly 50%

Just one chipmaker is negative for the year: Qualcomm.

The stock is down 8 percent for the year, the sole stock on the SMH semiconductor ETF in the red for 2019. It is stuck at nearly half its record high set during the dot-com boom in 2000.

But if history is any indication, the beaten-down stock could be about to break out, says Matt Maley, equity strategist at Miller Tabak.

“The $50 has been incredibly good support for the stock for the last three years-plus. Each time it’s gotten down to that level, not only has it bounced but it’s bounced anywhere from 40 to 50 percent,” Maley said on CNBC’s “Trading Nation” on Thursday. “Now we’ve gotten back down to that level and bounced again.”

The last three times Qualcomm bumped against $50 a share — in early 2016, mid-2016 and early 2018 — the stock raced higher, even moving above $75 last year. A 50 percent move higher would take Qualcomm above $78.

“If it can see any upside follow through, it may not get the same kind of 40 to 50 percent bounce it’s gotten each of the last few years, but it should gain a lot of momentum and see a much bigger bounce than people are looking for,” added

The Street has an average $63.41 price target on Qualcomm, according to FactSet estimates. That’s 20 percent upside from current levels of around $52 a share.

S&P Global portfolio manager Erin Gibbs says the stock may not see a breakout as large as 50 percent, but the stock does offer some value to a buy-and-hold investor.

“Qualcomm is actually pretty well positioned,” Gibbs said on “Trading Nation” on Thursday. “We think it’s a great value. We think the fact that 5G is definitely the next generation and Qualcomm has their foot well in place for that is one of the better plays within the semi industry.”

Qualcomm trades at nearly 13 times forward earnings, below the 15 times multiple on the SMH ETF.

“I don’t necessarily know whether it will be a 50 percent jump right away or if this might take some time, but this looks like one of your safer bets in the semi industry,” Gibbs added.

Disclosure: S&P Global holds Qualcomm in its portfolios.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: keris lahiff, justin sullivan, getty images, tasos katopodis, source, adam jeffery, apex legends, kcna, thomas barwick getty images, lawrence mcdonald
Keywords: news, cnbc, companies, 50, qualcomm, nearly, chip, upside, gibbs, times, soared, value, traded, gotten, stock, trading, bounced


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These sectors perform best after ‘buyback blackout’ periods

That means the so-called “buyback blackout” window will end soon. A “buyback blackout” is a period of several weeks around announcement of quarterly results when companies and their executives refrain from issuing any new share repurchases. What happens in the month after the end of these periods? Over the past 5 years, the Financials, Consumer Discretionary and Healthcare sectors have been top performers, according to a CNBC analysis using Kensho. Each of those sectors have traded higher 100 pe


That means the so-called “buyback blackout” window will end soon. A “buyback blackout” is a period of several weeks around announcement of quarterly results when companies and their executives refrain from issuing any new share repurchases. What happens in the month after the end of these periods? Over the past 5 years, the Financials, Consumer Discretionary and Healthcare sectors have been top performers, according to a CNBC analysis using Kensho. Each of those sectors have traded higher 100 pe
These sectors perform best after ‘buyback blackout’ periods Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12
Keywords: news, cnbc, companies, month, window, periods, sectors, way, end, buyback, perform, using, weeks, traded, blackout, best


These sectors perform best after 'buyback blackout' periods

We are about three quarters of the way through Q4 earnings season.

That means the so-called “buyback blackout” window will end soon.

A “buyback blackout” is a period of several weeks around announcement of quarterly results when companies and their executives refrain from issuing any new share repurchases.

What happens in the month after the end of these periods?

Over the past 5 years, the Financials, Consumer Discretionary and Healthcare sectors have been top performers, according to a CNBC analysis using Kensho.

Each of those sectors have traded higher 100 percent of the time. They average around a 5 percent gain in just a month.


Company: cnbc, Activity: cnbc, Date: 2019-02-12
Keywords: news, cnbc, companies, month, window, periods, sectors, way, end, buyback, perform, using, weeks, traded, blackout, best


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Brazil reclaims status as an emerging-market darling among investors amid new leadership

Brazilian stocks have become one of Wall Street’s favorite destinations for investing this year as investors bet on big changes taking place in Latin America’s largest economy. The Bovespa index, Brazil’s benchmark stock index, hit an all-time high on Monday and is up more than 8.5 percent thus far in 2019. The iShares MSCI Brazil ETF (EWZ), which tracks a basket of Brazilian stocks, has risen 12.2 percent this year. The EWZ is also outperforming EEM, the broader emerging-markets ETF, as well as


Brazilian stocks have become one of Wall Street’s favorite destinations for investing this year as investors bet on big changes taking place in Latin America’s largest economy. The Bovespa index, Brazil’s benchmark stock index, hit an all-time high on Monday and is up more than 8.5 percent thus far in 2019. The iShares MSCI Brazil ETF (EWZ), which tracks a basket of Brazilian stocks, has risen 12.2 percent this year. The EWZ is also outperforming EEM, the broader emerging-markets ETF, as well as
Brazil reclaims status as an emerging-market darling among investors amid new leadership Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: fred imbert, evaristo sa, afp, getty images
Keywords: news, cnbc, companies, ewz, status, amid, stocks, market, bolsonaro, president, reclaims, brazil, brazilian, index, think, traded, emergingmarket, investors, leadership, darling


Brazil reclaims status as an emerging-market darling among investors amid new leadership

Brazilian stocks have become one of Wall Street’s favorite destinations for investing this year as investors bet on big changes taking place in Latin America’s largest economy.

The Bovespa index, Brazil’s benchmark stock index, hit an all-time high on Monday and is up more than 8.5 percent thus far in 2019. The iShares MSCI Brazil ETF (EWZ), which tracks a basket of Brazilian stocks, has risen 12.2 percent this year. The EWZ is also outperforming EEM, the broader emerging-markets ETF, as well as funds tracking other emerging-market stocks.

The EWZ fund was up almost another 2 percent on Tuesday.

The jump in Brazilian shares comes as investors cheer the possibility of key reforms being passed by new President Jair Bolsonaro, including pension reform. However, Bolsonaro has a limited time period to make these changes. He is also a polarizing figure given racist and homophobic statements he has made in the past.

Bolsonaro is “hitting all the right notes the market has been wanting to hear for years,” said Chen Zhao, chief global strategist at Alpine Macro. “That’s why I think the market reaction has been so positive. If he really delivers on what he promised, I think that could turn out to be a major supply-side story in the EM world.”

Brazil’s new president was elected with overwhelming support. Bolsonaro won the presidency in October with 55 percent of the vote as Brazilians grew fed up with a spike in violence and lackluster economic recovery.

The Brazilian economy contracted all throughout 2016 on the heels of a massive price drop in oil, one of Brazil’s biggest exports. U.S. crude futures briefly traded around $26 per barrel in early 2016 before rebounding; they traded above $51 on Monday. The economy turned around in 2017, but only grew by 1.1 percent. Quarterly GDP growth did not reach 1 percent in the first three quarters, FactSet data show.


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: fred imbert, evaristo sa, afp, getty images
Keywords: news, cnbc, companies, ewz, status, amid, stocks, market, bolsonaro, president, reclaims, brazil, brazilian, index, think, traded, emergingmarket, investors, leadership, darling


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European stocks trade lower amid trade talk uncertainty; Metro Bank down 22%

European stock markets open slightly lower Wednesday morning as uncertainty over the state of Sino-U.S. trade talks dominates sentiment. London’s FTSE traded 0.4 percent lower, the German DAX was down 0.5 percent and the French CAC was trading slightly lower as well, according to IG. The banking sector was also seen to be making losses, after British lender Metro Bank cautioned that its growth softened in the final quarter. Investors in Asia traded cautiously Wednesday afternoon driven by uncert


European stock markets open slightly lower Wednesday morning as uncertainty over the state of Sino-U.S. trade talks dominates sentiment. London’s FTSE traded 0.4 percent lower, the German DAX was down 0.5 percent and the French CAC was trading slightly lower as well, according to IG. The banking sector was also seen to be making losses, after British lender Metro Bank cautioned that its growth softened in the final quarter. Investors in Asia traded cautiously Wednesday afternoon driven by uncert
European stocks trade lower amid trade talk uncertainty; Metro Bank down 22% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: holly ellyatt
Keywords: news, cnbc, companies, lower, metro, trade, world, stocks, 22, talk, uncertainty, bank, week, traded, forum, white, trading, european, amid


European stocks trade lower amid trade talk uncertainty; Metro Bank down 22%

European stock markets open slightly lower Wednesday morning as uncertainty over the state of Sino-U.S. trade talks dominates sentiment.

The pan-European Stoxx 600 opened 0.3 percent lower. London’s FTSE traded 0.4 percent lower, the German DAX was down 0.5 percent and the French CAC was trading slightly lower as well, according to IG.

All sectors except retail traded in negative territory, with technology at the top of the chart, down nearly 1.5 percent.

The banking sector was also seen to be making losses, after British lender Metro Bank cautioned that its growth softened in the final quarter. Shares in the bank slumped more than 20 percent. Meanwhile, shares in Deutsche Bank is down more than 1 percent after a Bloomberg report stating that the U.S. Federal Reserve is investigating the German lender’s role in a Danske Bank money laundering scheme.

Trading is expected to be cautious in Europe Wednesday amid uncertainty over trade talks between the world’s biggest economies, the U.S. and China, after reports emerged that the White House cancelled a trade planning meeting with Beijing.

It’s understood that the White House rejected a trade planning meeting with Chinese counterparts this week due to outstanding disagreements between the two sides over the enforcement of intellectual property rules. President Trump’s top economic advisor Larry Kudlow dismissed rumors of the cancellation, however.

Investors in Asia traded cautiously Wednesday afternoon driven by uncertainty over the trade talks.

Elsewhere, officials from the Chinese finance ministry said Wednesday that Beijing will boost fiscal expenditure in 2019 to bolster the country’s economy, Reuters reported.

Meanwhile, the World Economic Forum (WEF) continues in Davos this week. On Tuesday, Brazil’s newly-elected populist President Jair Bolsonaro addressed the forum and vowed to transform Latin America’s largest economy into a more investment-friendly country.

Back in Europe, Brexit continues to dominate headlines and parliamentary debate in the U.K., British trade minister Liam Fox will use a two-day trip to Davos to meet his counterparts from around the world to discuss rolling over existing EU trade agreements after Britain leaves the bloc, scheduled for March 29, his office said, according to Reuters.

Fox will be one of many government ministers, business leaders and economists speaking to CNBC at the forum on Wednesday.

On the corporate front, trading statements are due from Ahold Delhaize, ASML, Burberry and JD Wetherspoon on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: holly ellyatt
Keywords: news, cnbc, companies, lower, metro, trade, world, stocks, 22, talk, uncertainty, bank, week, traded, forum, white, trading, european, amid


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Asia markets trade higher as investors wait on crucial Brexit vote

Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data. South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39. Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 3


Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data. South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39. Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 3
Asia markets trade higher as investors wait on crucial Brexit vote Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, brexit, points, added, analysts, wait, markets, higher, asia, trade, pound, investors, market, china, crucial, traded, vote


Asia markets trade higher as investors wait on crucial Brexit vote

Asia Pacific markets mostly traded higher Tuesday despite lingering concerns over an economic slowdown in China, which dampened sentiment at the start of the week after China released trade data.

South Korea’s Kospi added 32.66 points, or 1.58 percent, to 2,097.18 while the Kosdaq gained 7.30 points, or 1.07 percent, to 690.39.

In Japan, the benchmark Nikkei 225 added 195.59 points, or 0.96 percent, to 20,555.29 after resuming trade on Tuesday — the Japanese market was closed Monday for a public holiday.

Greater China markets gained: Hong Kong’s Hang Seng index rose 1.82 percent in late-afternoon trade, while mainland Chinese markets rose as the Shanghai composite added 34.58 points, or 1.36 percent, to 2,570.34.

Major indexes in Singapore and India also rose.

Australia’s ASX 200 was up 41.20 points, or 0.71 percent, at 5,814.60 as the heavily-weighted financial subindex added 0.66 percent while the energy and materials sectors also posted gains.

Meanwhile, the Australian dollar traded at $0.7216 as of 3:42 p.m. HK/SIN, climbing from an earlier low of $0.7188.

Asia’s gains came despite declines on Wall Street overnight as the U.S. corporate earnings season kicked off. Still, U.S. futures also pointed to a positive open Tuesday.

“Risk is under modest downward pressure after yesterday’s disappointing December Chinese export data and confirmation of weak euro area industrial production fuelled concerns that a synchronised global manufacturing down-swing is underway and possibly intensifying,” analysts at ANZ Research wrote in a Tuesday morning note.

The analysts added that resolving trade uncertainty is “fundamental” to stabilizing the outlook, referring to an ongoing trade dispute between Washington and Beijing.

In the currency market, the dollar index, which measures the greenback against a basket of its peers, traded at 95.563. The Japanese yen, considered a safe-haven asset, fetched 108.61 to the dollar.

The British pound traded at $1.2885 as of 3:46 p.m. HK/SIN, climbing from levels below $1.2740 in the previous week. Sterling will be a focus for investors as lawmakers vote on U.K. Prime Minister Theresa May’s Brexit deal to leave the European Union.

The vote is widely expected to be defeated in parliament Tuesday, but could potentially still trigger a violent market reaction, according to some analysts.

“Today’s vote is considered a ‘buy the rumour, sell the fact’ play for the pound especially if the Brexit agreement is defeated by more than 100 votes,” analysts at Singapore’s DBS Group Research wrote. “It is still too early to take off the risk for the pound to fall to its post-referendum low near 1.20 this year.”


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, brexit, points, added, analysts, wait, markets, higher, asia, trade, pound, investors, market, china, crucial, traded, vote


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