Levi Strauss plans IPO that values company at up to $5 billion, sources say

Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said. Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate


Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said. Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate
Levi Strauss plans IPO that values company at up to $5 billion, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: leslie picker, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, billion, values, ipo, plans, saidlevis, company, strauss, pair, traded, say, public, offering, sources, million, levi, publicly


Levi Strauss plans IPO that values company at up to $5 billion, sources say

Levi Strauss & Co., the 145-year-old company credited with creating the first pair of blue jeans, is planning an initial public offering, people with knowledge of the matter said.

Levi’s is looking to raise between $600 million and $800 million and targeting the first quarter of 2019 to go public, said the people, who asked not to be named discussing confidential deal details. The company is aiming to debut with a valuation upward of $5 billion, the people said.

The San Francisco-based company has tapped Goldman Sachs and J.P. Morgan to manage the deal, although the timing and size of the offering could change, the people said.

Levi’s traces its history back to 1853 when Levi Strauss, an immigrant from Bavaria, moved to California during the gold-rush era seeking to open a West Coast outpost of his family’s dry goods business. About two decades later, one of his customers, a tailor, partnered with Strauss to patent the idea to use rivets to make a pair of pants last longer and the company was born. This led to the first pair of blue jeans, the company said.

Levi’s is currently privately held by the descendants of the family of Levi Strauss. The company’s Japanese affiliate, Levi Strauss K.K. is publicly traded in Tokyo, and Levi’s bonds are publicly traded. As a result, Levi’s reports quarterly earnings with the Securities and Exchange Commission.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: leslie picker, chris ratcliffe, bloomberg, getty images
Keywords: news, cnbc, companies, billion, values, ipo, plans, saidlevis, company, strauss, pair, traded, say, public, offering, sources, million, levi, publicly


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar hovers near 16-month high, yen pares intraday gains

The dollar traded slightly below a 16-month high versus a basket of peers on Tuesday, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown. The dollar index, a gauge of its value versus six major peers, traded at 97.5, sitting shy of its 16-month high of 97.69 hit on Monday. The Japanese yen traded at 113.99 on Tuesday, as the greenback gained 0.1 percent versus the yen. “The yen will now have a greater safe haven pull than the dol


The dollar traded slightly below a 16-month high versus a basket of peers on Tuesday, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown. The dollar index, a gauge of its value versus six major peers, traded at 97.5, sitting shy of its 16-month high of 97.69 hit on Monday. The Japanese yen traded at 113.99 on Tuesday, as the greenback gained 0.1 percent versus the yen. “The yen will now have a greater safe haven pull than the dol
Dollar hovers near 16-month high, yen pares intraday gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, intraday, high, european, traded, mondaythe, euro, led, 16month, pares, hovers, near, italys, yen, trade, dollar, versus, gains


Dollar hovers near 16-month high, yen pares intraday gains

The dollar traded slightly below a 16-month high versus a basket of peers on Tuesday, benefiting from save-haven flows sparked by political uncertainties in Europe and fears of a global economic slowdown.

Investor confidence has been eroded by bitter trade tensions between the United States and China, fears of a no-deal Brexit, and a standoff between Rome and the European Union over Italy’s deficit-deepening budget.

Added to that litany is a view that corporate earnings growth has peaked amid rising borrowing costs.

Shares on Wall Street tumbled on Monday, with falls led by technology stocks.

The bearish mood crept into Asian trade as well with the MSCI ex-Japan index falling 0.87 percent to trade at 477.5 on Tuesday.

The U.S. Federal Reserve is set to raise rates by 25 basis points in December, with two more hikes to follow by mid-2019, as wage pressures build in a booming economy.

The CME group’s FedWatch tool puts the probability of a December rate hike at 75 percent.

The dollar index, a gauge of its value versus six major peers, traded at 97.5, sitting shy of its 16-month high of 97.69 hit on Monday.

“The dollar has broken out of a 17-month range on the back of safe-haven buying, led by falling equity prices as well as the heavy sell-offs in the euro and sterling,” said Nick Twidale, chief operating officer at Rakuten Securities.

The Japanese yen traded at 113.99 on Tuesday, as the greenback gained 0.1 percent versus the yen. The yen touched a six-week low of 114.20 on Monday.

The dollar has been preferred over the yen due to the diverging monetary policies of the Fed and the Bank of Japan, which is expected to retain its ultra-loose monetary policy settings for some time in the face stubbornly sluggish inflation.

But analysts believe that the yen will strengthen if global risk sentiment worsens, thanks to its safe-haven status.

“The yen will now have a greater safe haven pull than the dollar if equities witness a further correction. We see dollar/yen downside in that scenario,” added Twidale.

Sterling staged a mild relief rally in Asian to trade at $1.2879, gaining 0.28 percent. It has slipped against the dollar in the last three trading sessions and posted its largest percentage decline versus the dollar since Sept. 21 on Monday.

“Sterling was a bit oversold and much of last night’s move occurred in thin liquidity. The lack of follow-through in Asia has led some to take profits on their shorts,” said Stephen Innes, head of trading, APAC at Oanda.

Investor sentiment has weakened as doubts grow over Prime Minister Theresa May’s ability to win the backing of the European Union or her own party for a Brexit deal.

With less than five months before Britain is due to leave the EU on March 29, negotiations are still stuck over how to prevent a return to a hard border between British-ruled Northern Ireland and EU member Ireland.

However, sterling traders got some encouragement after the European Union’s chief Brexit negotiator said the main elements of an exit treaty text were ready to present to the British cabinet on Tuesday.

The euro gained 0.2 percent to trade at $1.1243 on Tuesday, after tumbling more than one percent versus the dollar on Monday.

The standoff between Rome and Brussels over Italy’s free-spending budget and wide fiscal deficit has put immense strain on the single currency, which has lost 5.9 percent of its value over the last six months.

The European Commission rejected Italy’s 2019 budget last month, saying it flouted a previous commitment to lower the country’s deficit.

Italy is expected to submit a revised version of its budget on Tuesday, keeping euro traders active.


Company: cnbc, Activity: cnbc, Date: 2018-11-13
Keywords: news, cnbc, companies, intraday, high, european, traded, mondaythe, euro, led, 16month, pares, hovers, near, italys, yen, trade, dollar, versus, gains


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Asia markets retrace some losses; oil prices closely watched after OPEC warns on output

Asia markets retraced some of their early losses Monday morning but investors remained wary about global risks that include a trade fight between the U.S. and China, growth outlook, as well as oil prices. Oil prices will also be closely watched on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies warned about surging oil output that is set to leave the crude market oversupplied in 2019. That announcement came as rising supply and a weaker outlook for demand


Asia markets retraced some of their early losses Monday morning but investors remained wary about global risks that include a trade fight between the U.S. and China, growth outlook, as well as oil prices. Oil prices will also be closely watched on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies warned about surging oil output that is set to leave the crude market oversupplied in 2019. That announcement came as rising supply and a weaker outlook for demand
Asia markets retrace some losses; oil prices closely watched after OPEC warns on output Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, opec, closely, retrace, market, shares, warns, output, markets, trade, traded, dollar, losses, watched, index, oil, prices


Asia markets retrace some losses; oil prices closely watched after OPEC warns on output

Asia markets retraced some of their early losses Monday morning but investors remained wary about global risks that include a trade fight between the U.S. and China, growth outlook, as well as oil prices.

Japan’s Nikkei 225 erased early losses of more than 0.7 percent to trade fractionally higher while the Topix index was near flat. In South Korea, the Kospi retraced losses of more than 0.6 percent to trade down 0.1 percent.

Markets in Greater China were mostly positive in early trade. Taiwan’s Taiex index was up 0.35 percent while Hong Kong’s Hang Seng Index added 0.14 percent. Major indexes in the mainland markets traded mostly flat: The Shanghai Composite at around 2,600 while the Shenzhen composite added nearly 0.2 percent.

In Australia, the ASX 200 erased earlier losses to trade marginally higher around 5,923. The heavily-weighted financial subindex fell 0.66 percent as shares of some major banks tumbled: ANZ shares were down 3.74 percent and the National Australia Bank declined 0.24 percent. Westpac shares were up 0.13 percent and Commowealth Bank rose 0.58 percent.

Oil prices will also be closely watched on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies warned about surging oil output that is set to leave the crude market oversupplied in 2019.

A committee of several OPEC members and other crude exporters said that a larger group of roughly two dozen nations may have to launch a fresh round of output cuts in order to keep the oil market balanced. That announcement came as rising supply and a weaker outlook for demand have contributed to a sharp pullback in oil prices.

“The fairly quick downward correction in oil prices has finally stirred OPEC members to broach the topic of more output cuts over the weekend,” Wei Liang Chang, a foreign-exchange strategist at Mizuho Bank, wrote in a morning note. “Even so, the correction in oil prices appears partly due to a pullback in global equities, and output management risks exaggerating price moves when market sentiment reverses.”

U.S. crude traded up 0.8 percent at $60.67 a barrel while global benchmark Brent was up 0.95 percent at $70.85.

In the currency market, the dollar index, which measures the U.S. dollar against a basket of its peer, traded at 96.984, up from levels below 96.000 in the previous week.

Analysts said that the dollar “reasserted itself” as sentiment fell in the stock market last Friday.

The Japanese yen traded at 113.95 to the dollar while the Australian dollar traded at $0.7229.

— CNBC’s Tom DiChristopher contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, opec, closely, retrace, market, shares, warns, output, markets, trade, traded, dollar, losses, watched, index, oil, prices


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

SAP shares fall on $8 billion Qualtrics takeover announcement

Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion. The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower. It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3


Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion. The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower. It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3
SAP shares fall on $8 billion Qualtrics takeover announcement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne
Keywords: news, cnbc, companies, software, billion, deal, sap, fall, qualtrics, microsoft, announced, announcement, takeover, maker, firm, shares, traded


SAP shares fall on $8 billion Qualtrics takeover announcement

Shares of SAP fell on Monday after the company announced it was buying U.S. survey software maker Qualtrics for $8 billion.

The German software giant said Sunday it would acquire Qualtrics in an all-cash deal that has already gained approval by the boards of both companies, as well as Qualtrics’ shareholders.

SAP’s share price initially fell around 2 percent as traders in Europe digested news of the deal on Monday, soon extending losses with a 4 percent decrease later in morning trade. As of 12:26 p.m. London time, SAP shares traded 3.65 percent lower.

The deal announced Sunday saw SAP snap up Qualtrics — which counts recently-listed SurveyMonkey among its competitors — ahead of a planned listing for the firm, which would have traded on the Nasdaq under the symbol XM.

It is also one of the largest acquisitions the enterprise software maker has ever made, coming second only to SAP’s $8.3 billion purchase of travel and expense software firm Concur in 2014.

In addition, the deal comes on the back of a multitude of takeovers by big tech companies of coveted cloud software firms. IBM recently announced plans to buy Red Hat for $34 billion, the industry’s biggest ever acquisition, and Microsoft earlier this year bought GitHub for $7.5 billion.

Qualtrics was founded in 2002 by brothers Ryan and Jared Smith, their father, Scott, and Stuart Orgill. It counts well-known brands including Microsoft, Kellogg, BlackRock, Mastercard and Under Armour among its more than 9,000 customers.

— CNBC’s Alex Sherman and Jordan Novet contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: ryan browne
Keywords: news, cnbc, companies, software, billion, deal, sap, fall, qualtrics, microsoft, announced, announcement, takeover, maker, firm, shares, traded


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The year’s best-performing tech stock — AMD — got crushed

Advanced Micro Devices, the year’s best-performing technology stock, got pummeled Monday as the entire tech sector took a nosedive. Shares of AMD tumbled as much as 11 percent on Monday to a low of $18.80, the biggest decline among the 66 companies in the S&P 500 tech index. AMD closed down 9.5 percent, well below the Information Technology Index, which closed down 3.5 percent. Despite the setback, AMD is still the top tech gainer of the year, rising more than 85 percent. The stock hit its peak


Advanced Micro Devices, the year’s best-performing technology stock, got pummeled Monday as the entire tech sector took a nosedive. Shares of AMD tumbled as much as 11 percent on Monday to a low of $18.80, the biggest decline among the 66 companies in the S&P 500 tech index. AMD closed down 9.5 percent, well below the Information Technology Index, which closed down 3.5 percent. Despite the setback, AMD is still the top tech gainer of the year, rising more than 85 percent. The stock hit its peak
The year’s best-performing tech stock — AMD — got crushed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, stock, spiral, bestperforming, took, technology, tumbled, index, amd, crushed, tech, traded, closed


The year's best-performing tech stock — AMD — got crushed

Advanced Micro Devices, the year’s best-performing technology stock, got pummeled Monday as the entire tech sector took a nosedive.

Shares of AMD tumbled as much as 11 percent on Monday to a low of $18.80, the biggest decline among the 66 companies in the S&P 500 tech index. AMD closed down 9.5 percent, well below the Information Technology Index, which closed down 3.5 percent.

Despite the setback, AMD is still the top tech gainer of the year, rising more than 85 percent. The stock hit its peak on Sept. 13, when it traded at $34.14, and has since been on a downward spiral, dropping more than 40 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-12  Authors: lauren feiner, adam jeffery
Keywords: news, cnbc, companies, stock, spiral, bestperforming, took, technology, tumbled, index, amd, crushed, tech, traded, closed


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil’s extended losing streak now faces a key test

Those losses have pushed it deeper into a bear market, having plunged nearly 22 percent from its 52-week high. Such a steep sell-off has made a mess of the commodity’s charts, says Matt Maley, equity strategist at Miller Tabak. “Obviously when you get a 20 percent decline, you definitely get some technical damage,” Maley said on CNBC’s “Trading Nation” on Friday. While oil has plummeted, energy stocks have managed to break free from the typical trend, noted Erin Gibbs, a portfolio manager at S&P


Those losses have pushed it deeper into a bear market, having plunged nearly 22 percent from its 52-week high. Such a steep sell-off has made a mess of the commodity’s charts, says Matt Maley, equity strategist at Miller Tabak. “Obviously when you get a 20 percent decline, you definitely get some technical damage,” Maley said on CNBC’s “Trading Nation” on Friday. While oil has plummeted, energy stocks have managed to break free from the typical trend, noted Erin Gibbs, a portfolio manager at S&P
Oil’s extended losing streak now faces a key test Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-10  Authors: keris lahiff, brittany sowacke, bloomberg, getty images, david paul morris, stephen desaulniers, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, faces, energy, extended, oils, test, losing, weve, valuations, trading, trend, traded, level, streak, oil, key, stabilized, stocks


Oil's extended losing streak now faces a key test

Oil is in the midst of an historic sell-off, but one expert sees light at the end of the tunnel 4 Hours Ago | 03:35

Crude oil ended Friday with its 10th straight session of losses, a losing streak not seen in more than 34 years. Those losses have pushed it deeper into a bear market, having plunged nearly 22 percent from its 52-week high.

Such a steep sell-off has made a mess of the commodity’s charts, says Matt Maley, equity strategist at Miller Tabak.

“Obviously when you get a 20 percent decline, you definitely get some technical damage,” Maley said on CNBC’s “Trading Nation” on Friday.

“Not only have we broken below the 200-day moving average that a lot of people have talked about but, much more importantly, we’ve broken below the trend line going back to the early 2016 lows so that’s a problem,” he said.

West Texas Intermediate crude fell sharply below its 200-day moving average at the beginning of the month. The commodity had not traded significantly below that level since the summer of 2017.

“What’s the next support level? That doesn’t come in until you get down to the $57.50 level. That was the February lows… You break below that, we’ve got real problems,” said Maley.

Crude would need to drop another 4.4 percent before reaching that level. It has not traded that low since December 2017.

While oil has plummeted, energy stocks have managed to break free from the typical trend, noted Erin Gibbs, a portfolio manager at S&P Advisory Services.

“Normally energy stocks are highly correlated to oil, but in this case we’ve seen a big divergence for the entire month so far of November and they’ve actually been up,” Gibbs told “Trading Nation” on Friday.

Gibbs said that energy valuations appear to have stabilized at around 14 times forward earnings, considered relatively cheap to the broader markets, while oil companies expect to hold onto healthy profits next year.

“From an energy stock perspective, this actually looks like a decent time to buy in, because it seems like valuations have stabilized and profit growth seems to be very stable going forward,” said Gibbs.

The XLE energy ETF (exchange traded fund) has increased more than 3 percent over the past two weeks. Over that same period, crude has crashed 11 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-10  Authors: keris lahiff, brittany sowacke, bloomberg, getty images, david paul morris, stephen desaulniers, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, faces, energy, extended, oils, test, losing, weve, valuations, trading, trend, traded, level, streak, oil, key, stabilized, stocks


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar range-bound as investors await Fed rate decision; yen trades with weak bias

The dollar traded in a narrow range on Thursday as markets settled after U.S. midterm election results came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day. “The dollar is likely to benefit as we still expect the Fed to maintain its hawkish stance. The dollar strengthened 0.14 versus the yen to trade at 113.66 on Wednesday. The euro traded at $1.1429 on Thursday. The New Zealand dollar traded flat at $0.6776, with little reaction to


The dollar traded in a narrow range on Thursday as markets settled after U.S. midterm election results came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day. “The dollar is likely to benefit as we still expect the Fed to maintain its hawkish stance. The dollar strengthened 0.14 versus the yen to trade at 113.66 on Wednesday. The euro traded at $1.1429 on Thursday. The New Zealand dollar traded flat at $0.6776, with little reaction to
Dollar range-bound as investors await Fed rate decision; yen trades with weak bias Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, euro, traded, rates, bias, currency, versus, fed, decision, weak, bank, trades, rangebound, rate, investors, yen, trade


Dollar range-bound as investors await Fed rate decision; yen trades with weak bias

The dollar traded in a narrow range on Thursday as markets settled after U.S. midterm election results came in as expected, leaving investors free to focus on a Federal Reserve’s policy decision later in the global day.

The central bank’s Federal Open Market Committee (FOMC) is expected to maintain the hawkish language seen in recent policy statements, while keeping interest rates unchanged this time.

The Fed has raised rates three times this year as the U.S. economy boomed and inflation started to pick up, and it has signaled a rate rise in December, with two more hikes by mid-2019.

“The dollar is likely to benefit as we still expect the Fed to maintain its hawkish stance. The U.S. economy needs rising rates as wage pressures are building and there is a risk of an overheating of the economy,” said Sim Moh Siong, currency strategist at Bank of Singapore.

The prospect of further Fed tightening helped the dollar recover against the euro and yen, having lost ground after the mid-term elections resulted in a split Congress, with Democrats winning control of the House of Representatives and Republicans cementing their majority in the Senate.

Expectations that the Washington will descend into gridlock has reduced President Donald Trump’s chances of pushing through a fiscal stimulus package.

The dollar index, a gauge of its value versus six major peers traded at 96.22 on Thursday, gaining 0.23 percent.

The dollar strengthened 0.14 versus the yen to trade at 113.66 on Wednesday. The dollar has gained around 1.9 percent over the Japanese currency over the last nine trading sessions due to the diverging monetary policies of the U.S. Fed and the Bank of Japan (BoJ).

While the Fed is on track to raise interest rates the Bank of Japan will press on with ultra loose monetary policy because of low growth and inflation.

The widening interest rate differential between U.S. and Japanese bonds has made the dollar a more attractive bet than the yen, which is often a funding currency for carry trades.

The euro traded at $1.1429 on Thursday. The single currency had touched an intra-day high of $1.15 on Wednesday, due to dollar weakness rather than any substantial improvement in the euro zone’s economic fundamentals.

The standoff between the EU and Rome over Italy’s budget deficit and concerns over Europe’s slowing economic growth have handicapped the euro, which has lost 4 percent versus the dollar over the last six months.

Elsewhere in the currency market, the pound traded flat at $1.3124 in early Asian trade after gaining 3.36 percent versus the dollar in the last six trading sessions, as traders bet a Brexit agreement was close.

The New Zealand dollar traded flat at $0.6776, with little reaction to its central bank keeping rates on hold at 1.75 percent on Thursday.

The Australian dollar built on its gains of the previous three trading sessions versus the greenback to trade at $0.7283, to gain 0.1 percent versus. The Aussie was cheered by stronger than expected trade data out of China, its largest trade partner.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, dollar, euro, traded, rates, bias, currency, versus, fed, decision, weak, bank, trades, rangebound, rate, investors, yen, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Asia trades mostly higher as US midterm election results filter in

Asia markets turned mostly positive Wednesday morning as results filtered in from the much-anticipated midterm elections in the U.S., which could potentially have significant implications. In Hong Kong, the Hang Seng index traded fractionally higher. Some analysts said that markets were in a “holding pattern” ahead of the U.S. mid-term election results. “The impact on Asia markets arising from the US mid-term elections is not clear cut,” DBS analysts wrote in a morning note. The trading session


Asia markets turned mostly positive Wednesday morning as results filtered in from the much-anticipated midterm elections in the U.S., which could potentially have significant implications. In Hong Kong, the Hang Seng index traded fractionally higher. Some analysts said that markets were in a “holding pattern” ahead of the U.S. mid-term election results. “The impact on Asia markets arising from the US mid-term elections is not clear cut,” DBS analysts wrote in a morning note. The trading session
Asia trades mostly higher as US midterm election results filter in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, results, traded, index, midterm, election, trades, morning, asia, filter, dollar, major, markets, potentially


Asia trades mostly higher as US midterm election results filter in

Asia markets turned mostly positive Wednesday morning as results filtered in from the much-anticipated midterm elections in the U.S., which could potentially have significant implications.

Japan’s Nikkei 225 gained 1.15 percent while the Topix index added 1.06 percent. In South Korea, the Kospi traded up 0.65 percent, reversing early losses. Australia’s ASX 200 rose 0.25 percent, as major banking stocks in the country traded up.

In Hong Kong, the Hang Seng index traded fractionally higher. The Shanghai composite traded near flat while the Shenzhen composite added 0.33 percent.

Some analysts said that markets were in a “holding pattern” ahead of the U.S. mid-term election results.

“The impact on Asia markets arising from the US mid-term elections is not clear cut,” DBS analysts wrote in a morning note. “It might be better to focus on domestic fundamentals, valuation and cues from the (dollar) to gauge flows.”

See the key election races that markets are watching as early indicators.

The results hold massive stakes for future U.S. economic policy — and potentially President Donald Trump’s political fate.

The view of major firms like Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley is for a mixed outcome, with Democrats gaining control of the House and Republicans holding or even adding to their majority in the Senate. The market reaction to that scenario could be muted, but not so if there’s an upset, with either party staging a surprise victory and gaining total control of Congress.

The trading session in Asia comes after a higher close on Wall Street, where all three major indices advanced.

In the currency market, the dollar index, which measures the greenback against a basket of its peers, traded at 96.314 Wednesday morning during Asian hours. The index slipped from levels above 96.800 it reached last week.

The Japanese yen traded at 113.69 to the dollar while the Australian dollar fetched $0.7217.

Oil prices fell during Asian hours after declining overnight as the U.S. granted top buyers of Iranian oil sanction waivers.

U.S. crude was down 0.56 percent at $61.86 a barrel while global benchmark Brent declined 0.25 percent to $71.95.

— Reuters and CNBC’s Patti Domm contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, higher, results, traded, index, midterm, election, trades, morning, asia, filter, dollar, major, markets, potentially


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

British pound firms on reports of Brexit customs deal

The dollar lost ground against most of its major peers on Monday, as growing expectations of an orderly Brexit bolstered the pound, euro and broader global investor sentiment. Despite Brexit relief supporting risk appetite in currency markets, the UK’s Telegraph newspaper reported that significant hurdles still remain for the negotiation process. The pound retraced its intra-day high in early thin Asian trade, but was up 0.3 percent for the day. The positive sentiment around a smooth Brexit also


The dollar lost ground against most of its major peers on Monday, as growing expectations of an orderly Brexit bolstered the pound, euro and broader global investor sentiment. Despite Brexit relief supporting risk appetite in currency markets, the UK’s Telegraph newspaper reported that significant hurdles still remain for the negotiation process. The pound retraced its intra-day high in early thin Asian trade, but was up 0.3 percent for the day. The positive sentiment around a smooth Brexit also
British pound firms on reports of Brexit customs deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, pound, deal, dollar, traded, jobs, british, customs, reports, yuan, brexit, trade, euro, firms, currency, versus


British pound firms on reports of Brexit customs deal

The dollar lost ground against most of its major peers on Monday, as growing expectations of an orderly Brexit bolstered the pound, euro and broader global investor sentiment.

A Sunday Times report that an all-UK customs deal will be written into the agreement governing Britain’s withdrawal from the EU cheered investors who sent the pound to $1.3062 on Monday, the highest since Oct. 22.

The dollar index, a gauge of its value versus six major peers, traded marginally lower at 96.45 due to the gains in the euro and pound, which together make up around 70 percent of the index.

However, analysts think dollar strength will return as investors shift focus back to expectations for tighter U.S. monetary policy following stronger-than-expected economic data late last week. Analysts see the Federal Reserve on track to raise interest rates in December, followed by another two hikes by mid-2019.

Data released on Friday showed that U.S. jobs growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years.

“The jobs data has reaffirmed the dollar’s strength due to the rates differential factor going forward. The risk is that the markets may be caught surprised by a more hawkish Fed,” said Rodrigo Catril, senior currency strategist at NAB.

U.S. 10-year Treasury yields traded at 3.2 percent on Monday, having risen on Friday on the back of the jobs report.

That is expected to help the dollar firm against the safe haven Japanese yen, which traded flat at 113.18 on Monday. The dollar weakened by 0.66 percent versus the yen in the month of October as news flow around trade tensions, geopolitical risks and a global economic slowdown gave the Japanese currency a flight-to-safety bid.

“The dollar/yen will follow the U.S. 10 year yields higher. We don’t see much downside as of now,” added Catril.

Despite Brexit relief supporting risk appetite in currency markets, the UK’s Telegraph newspaper reported that significant hurdles still remain for the negotiation process.

The pound retraced its intra-day high in early thin Asian trade, but was up 0.3 percent for the day. It has lost 3.7 percent versus the greenback year to date.

The positive sentiment around a smooth Brexit also gave the euro a small bid in early Asian trade. The single currency gained 0.11 percent and changed hands at $1.1396.

The offshore yuan traded stronger versus the dollar at 6.8948. The yuan gained in the last two trading sessions versus the greenback in offshore trading, supported by rising hopes that trade tension between China and the United States will ease.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, pound, deal, dollar, traded, jobs, british, customs, reports, yuan, brexit, trade, euro, firms, currency, versus


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley says buy Teva because its turnaround is still in the ‘early innings’

Investors should buy shares of Teva Pharmaceutical Industries as the company’s turnaround picks up steam, Morgan Stanley analyst David Risinger said Monday. Risinger upgraded the stock to overweight from equal weight. He also hiked his price target on the stock to $27 a share, implying a 19.5 percent upside from the stock’s close on Friday. Teva traded around $22.75 on Monday. “We expect continued improvement in Teva’s financials and investor perception,” Risinger said in a note to clients.


Investors should buy shares of Teva Pharmaceutical Industries as the company’s turnaround picks up steam, Morgan Stanley analyst David Risinger said Monday. Risinger upgraded the stock to overweight from equal weight. He also hiked his price target on the stock to $27 a share, implying a 19.5 percent upside from the stock’s close on Friday. Teva traded around $22.75 on Monday. “We expect continued improvement in Teva’s financials and investor perception,” Risinger said in a note to clients.
Morgan Stanley says buy Teva because its turnaround is still in the ‘early innings’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: fred imbert, patrick t fallon, bloomberg, getty images, tom strickland, scott mlyn, chip chipman, victor j blue, alex wong, andrew harrer
Keywords: news, cnbc, companies, weight, teva, upside, morgan, traded, target, risinger, stanley, stock, upgraded, innings, early, buy, turnaround, tevas


Morgan Stanley says buy Teva because its turnaround is still in the 'early innings'

Investors should buy shares of Teva Pharmaceutical Industries as the company’s turnaround picks up steam, Morgan Stanley analyst David Risinger said Monday.

Risinger upgraded the stock to overweight from equal weight. He also hiked his price target on the stock to $27 a share, implying a 19.5 percent upside from the stock’s close on Friday. Teva traded around $22.75 on Monday.

“We expect continued improvement in Teva’s financials and investor perception,” Risinger said in a note to clients. “Recall that Teva is just a year into its 3-year restructuring plan, and 25% EBITDA upside in 3Q gave us greater confidence that Teva can deliver additional cost cutting and earnings surprise in coming years.”


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: fred imbert, patrick t fallon, bloomberg, getty images, tom strickland, scott mlyn, chip chipman, victor j blue, alex wong, andrew harrer
Keywords: news, cnbc, companies, weight, teva, upside, morgan, traded, target, risinger, stanley, stock, upgraded, innings, early, buy, turnaround, tevas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post