Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, pacific, concerns, sentiment, trade, major, higher, war, losses, week, markets, tumbled, close, shares, hong, investor, dampen


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone


Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment. Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%. “A risk-off tone
Major Asia Pacific markets higher; trade war concerns dampen investor sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Major Asia Pacific markets higher; trade war concerns dampen investor sentiment

Major markets in Asia Pacific closed higher on Monday, following a volatile week for global markets as growing trade war fears dented investor sentiment.

Mainland Chinese markets bounced back from the previous week’s losses to close higher Monday. The Shanghai composite traded up 1.45% to close at 2,814.99 while the Shenzhen composite added 1.92% to 1,508.21. Hong Kong’s Hang Seng index was fractionally higher at 25,962.42 as of 3:15 p.m. HK/SIN.

But, shares of Hong Kong flag carrier Cathay Pacific tumbled more than 4% as of 3:15 p.m. HK/SIN after it suspended a pilot for his involvement in the ongoing anti-government protests in the city. The carrier said “overly radical” staff would be barred from crewing flights to the mainland. Cathay’s decision came a day after China’s aviation authority issued a “major aviation safety risk warning” to the airline.

Unrest in Hong Kong continued into its 10th week, with police and protesters clashing on Sunday.

Markets in rest of the region rose, with major indexes in Japan, India and Singapore closed for public holidays.

Australia’s benchmark S&P/ASX 200 retraced some of its early losses to climb marginally higher to 6,590.30. Major miners struggled for gains: Rio Tinto shares tumbled 2.75%, BHP shares were down 0.75% and Fortescue dropped 3.99%.

In South Korea, the Kospi clawed back losses to rise 0.23% to close at 1,942,29.

Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat.

“Trade tensions continued to drive financial market moves going into the end of the week, with markets very sensitive to reports on the US-China relationship,” Jack Chambers from ANZ Research wrote in a Monday morning note. “A risk-off tone hit the markets as President Trump warned that talks scheduled for next month may not take place.”


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: weizhen tan saheli roy choudhury, weizhen tan, saheli roy choudhury
Keywords: news, cnbc, companies, dampen, close, investor, markets, pacific, higher, tumbled, week, shares, concerns, trade, war, losses, sentiment, hong, major


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Social Capital’s Palihapitiya says bitcoin is ‘schmuck insurance you have under your mattress’

Silicon Valley venture capitalist Chamath Palihapitiya, an early investor in bitcoin, is still crazy about the cryptocurrency. “It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya said in an interview Tuesday with CNBC’s Squawk Box. Palihapitiya first bought bitcoin years ago at an average price of about $100, he previously told CNBC. The venture capitalist said he and two other friends in Silicon Valley at one point in 2013 owned 5% of the entire float of


Silicon Valley venture capitalist Chamath Palihapitiya, an early investor in bitcoin, is still crazy about the cryptocurrency. “It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya said in an interview Tuesday with CNBC’s Squawk Box. Palihapitiya first bought bitcoin years ago at an average price of about $100, he previously told CNBC. The venture capitalist said he and two other friends in Silicon Valley at one point in 2013 owned 5% of the entire float of
Social Capital’s Palihapitiya says bitcoin is ‘schmuck insurance you have under your mattress’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: yun li
Keywords: news, cnbc, companies, palihapitiya, social, bitcoin, tumbled, schmuck, capitals, venture, insurance, investor, coin, yearsbitcoin, mattress, capitalist, silicon, valley


Social Capital's Palihapitiya says bitcoin is 'schmuck insurance you have under your mattress'

Silicon Valley venture capitalist Chamath Palihapitiya, an early investor in bitcoin, is still crazy about the cryptocurrency.

“It’s the single best hedge against the traditional financial infrastructure,” Palihapitiya said in an interview Tuesday with CNBC’s Squawk Box. “Whether you support the fiscal and monetary policy or not, it doesn’t matter. This is the schmuck insurance you have under your mattress.”

“Just buy the coins. It’s a fantastic instrument,” he added.

Palihapitiya first bought bitcoin years ago at an average price of about $100, he previously told CNBC. The venture capitalist said he and two other friends in Silicon Valley at one point in 2013 owned 5% of the entire float of bitcoin.

He had predicted that bitcoin is going to be $1 million a piece in the next 20 years.

Bitcoin has had a stellar comeback this year, soaring more than 200% as the crypto space attracted more interest after Facebook’s announcement of its own digital coin. Bitcoin tumbled more than 70% in 2018 as high-profile hacks and crackdowns on initial coin offerings dampened investor enthusiasm.

Palihapitiya is founder and CEO of Social Capital. He was a former member of the senior executive team at Facebook.


Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: yun li
Keywords: news, cnbc, companies, palihapitiya, social, bitcoin, tumbled, schmuck, capitals, venture, insurance, investor, coin, yearsbitcoin, mattress, capitalist, silicon, valley


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

A key manufacturing gauge just saw its biggest one-month decline in 18 years

A closely followed gauge of manufacturing in the New York area fell this month to its lowest level in nearly three years. Internally, the measure showed sharply diminished business expectations across a number of categories. Net new orders collapsed 22 points to -12 while shipments declined 7 points to 9.7. However, the prices received index declined 6 points to 6.8, the fourth month in a row for a decline “pointing to an ongoing deceleration in selling price increases,” the release said. Respon


A closely followed gauge of manufacturing in the New York area fell this month to its lowest level in nearly three years. Internally, the measure showed sharply diminished business expectations across a number of categories. Net new orders collapsed 22 points to -12 while shipments declined 7 points to 9.7. However, the prices received index declined 6 points to 6.8, the fourth month in a row for a decline “pointing to an ongoing deceleration in selling price increases,” the release said. Respon
A key manufacturing gauge just saw its biggest one-month decline in 18 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: jeff cox
Keywords: news, cnbc, companies, points, reading, 22, onemonth, biggest, key, 18, manufacturing, gauge, declined, conditions, business, york, tumbled, saw, expectations, decline, index


A key manufacturing gauge just saw its biggest one-month decline in 18 years

A closely followed gauge of manufacturing in the New York area fell this month to its lowest level in nearly three years.

The Empire State Manufacturing Index tumbled to a -8.6 reading from 17.8 in May, a 26.4-point drop that was the biggest slide for a data series that goes back to 2001 and well below Wall Street expectations of 11.5. In all, 22% of respondents reported that conditions had improved since May while 30% said conditions worsened, according to the index, compiled by the New York Federal Reserve and indicating the difference between plans to expand and contract.

It was the lowest reading and first negative print since October 2016 and comes amid growing worries about where the broader U.S. economy is heading and what impact the ongoing trade war will have on conditions.

Internally, the measure showed sharply diminished business expectations across a number of categories.

Net new orders collapsed 22 points to -12 while shipments declined 7 points to 9.7.

Employment also looked bleak, falling to -3.5, its first negative print in more than two years. The average work week also declined to -2.2, while the prices paid component was little changed at 27.8. However, the prices received index declined 6 points to 6.8, the fourth month in a row for a decline “pointing to an ongoing deceleration in selling price increases,” the release said.

“Bottom line, and I’ll be blunt, this number was terrible. It’s hard not to think this is all about tariffs and what it is doing to business confidence,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, said in a note. “We don’t even need actual tariffs, just the threat of them now on anything and anybody to address issues that have nothing to do with trade also adds a whole new layer of uncertainty.”

Businesses also were pessimistic about the road ahead.

Respondents to the survey pointed to declining business conditions, with a six-month expectations reading falling 5 points to 25.7. Future orders and shipments fell by a similar amount.

Also, the capital expenditures index, a measure of where businesses plan on investing in new equipment and plants, tumbled 16 points to 10.5, while the technology spending index slumped 10 points to 12.8.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: jeff cox
Keywords: news, cnbc, companies, points, reading, 22, onemonth, biggest, key, 18, manufacturing, gauge, declined, conditions, business, york, tumbled, saw, expectations, decline, index


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump’s blacklisting of Huawei is hammering some US manufacturers — Skyworks is the latest

The Trump Administration’s blacklisting of Huawei is punishing a number of U.S. technology companies that provide components to the Chinese networking giant. The latest to publicly acknowledge the problem is chipmaker Skyworks Solutions. Skyworks lowered its quarterly earnings and revenue forecast on Tuesday, telling investors that it stopped shipping products to Huawei. Shares of Skyworks dropped more than 1% in extended trading and have tumbled 12% since May 15, when President Trump signed an


The Trump Administration’s blacklisting of Huawei is punishing a number of U.S. technology companies that provide components to the Chinese networking giant. The latest to publicly acknowledge the problem is chipmaker Skyworks Solutions. Skyworks lowered its quarterly earnings and revenue forecast on Tuesday, telling investors that it stopped shipping products to Huawei. Shares of Skyworks dropped more than 1% in extended trading and have tumbled 12% since May 15, when President Trump signed an
Trump’s blacklisting of Huawei is hammering some US manufacturers — Skyworks is the latest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: jordan novet
Keywords: news, cnbc, companies, trump, hammering, blacklisting, companies, vulnerabilities, telling, skyworks, products, manufacturers, trumps, technology, tumbled, huawei, latest, trading


Trump's blacklisting of Huawei is hammering some US manufacturers — Skyworks is the latest

The Trump Administration’s blacklisting of Huawei is punishing a number of U.S. technology companies that provide components to the Chinese networking giant. The latest to publicly acknowledge the problem is chipmaker Skyworks Solutions.

Skyworks lowered its quarterly earnings and revenue forecast on Tuesday, telling investors that it stopped shipping products to Huawei. Shares of Skyworks dropped more than 1% in extended trading and have tumbled 12% since May 15, when President Trump signed an executive order declaring a national emergency because “foreign adversaries are increasingly creating and exploiting vulnerabilities in information and communications technology and services.”

The U.S. Commerce Department added Huawei and dozens of its subsidiaries to the so-called Entity List, disallowing them from buying products from U.S. companies without a license.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: jordan novet
Keywords: news, cnbc, companies, trump, hammering, blacklisting, companies, vulnerabilities, telling, skyworks, products, manufacturers, trumps, technology, tumbled, huawei, latest, trading


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year


Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year
Boeing first-quarter deliveries and orders sink after 737 Max groundings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
Keywords: news, cnbc, companies, announced, 737, boeing, model, max, groundings, orders, firstquarter, deliveries, sink, tumbled, fell, 737s


Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter.

The plane maker has halted deliveries of the 737 Max, the latest model of the popular narrow-body jet, after faulty data feeding into the aircraft’s automated flight system was implicated in two fatal crashes that killed all 346 people aboard the flights. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. They’ve been grounded since the second crash in mid-March.

Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year earlier. There were no new 737 Max orders in March.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
Keywords: news, cnbc, companies, announced, 737, boeing, model, max, groundings, orders, firstquarter, deliveries, sink, tumbled, fell, 737s


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer: Nasdaq, Goldman Sachs, and Amazon are de-risked IPO plays

CNBC’s Jim Cramer on Monday said he did not expect Lyft shares to get hit so hard on Monday after their after a positive Friday debut on the stock market. The rideshare app traded as high as $88 a share in its first day, but tumbled nearly 12 percent to settle at $69.01 on Monday. With a load of highly-anticipated companies planning to go public in 2019, he said it’s a sign that investors must be very careful buying red-hot initial public offerings. But there is a way to make money on the IPO fr


CNBC’s Jim Cramer on Monday said he did not expect Lyft shares to get hit so hard on Monday after their after a positive Friday debut on the stock market. The rideshare app traded as high as $88 a share in its first day, but tumbled nearly 12 percent to settle at $69.01 on Monday. With a load of highly-anticipated companies planning to go public in 2019, he said it’s a sign that investors must be very careful buying red-hot initial public offerings. But there is a way to make money on the IPO fr
Cramer: Nasdaq, Goldman Sachs, and Amazon are de-risked IPO plays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: tyler clifford
Keywords: news, cnbc, companies, stocks, public, way, derisked, ipo, cramer, amazon, plays, sachs, winners, tumbled, uber, buying, money, nasdaq, goldman


Cramer: Nasdaq, Goldman Sachs, and Amazon are de-risked IPO plays

CNBC’s Jim Cramer on Monday said he did not expect Lyft shares to get hit so hard on Monday after their after a positive Friday debut on the stock market.

The rideshare app traded as high as $88 a share in its first day, but tumbled nearly 12 percent to settle at $69.01 on Monday. With a load of highly-anticipated companies planning to go public in 2019, he said it’s a sign that investors must be very careful buying red-hot initial public offerings. Those include names such as Pinterest, Uber, and Airbnb.

But there is a way to make money on the IPO frenzy without buying the new stocks, Cramer said.

“If you want to play the IPO boom without taking the immense risk of buying these stocks right out of the gate, embrace the indirect approach and buy the more consistent winners here like Nasdaq, Goldman Sachs and Amazon,” the “Mad Money” host said.


Company: cnbc, Activity: cnbc, Date: 2019-04-01  Authors: tyler clifford
Keywords: news, cnbc, companies, stocks, public, way, derisked, ipo, cramer, amazon, plays, sachs, winners, tumbled, uber, buying, money, nasdaq, goldman


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Autos stocks lead gains as European markets move higher; Danske Bank shares dive 5%

Europe’s autos stocks led the gains, up more than 2.4 percent after French daily Los Echos reported on Monday that the Peugeot family could favor Fiat Chrysler as a candidate for possible consolidation operations. Shares of Fiat Chrysler jumped 5 percent on the news. Looking at individual stocks, Denmark’s Danske Bank tumbled toward the bottom of the European benchmark on Tuesday. The mining company also reported a drop in annual core earnings that was in line with analyst expectations. Shares o


Europe’s autos stocks led the gains, up more than 2.4 percent after French daily Los Echos reported on Monday that the Peugeot family could favor Fiat Chrysler as a candidate for possible consolidation operations. Shares of Fiat Chrysler jumped 5 percent on the news. Looking at individual stocks, Denmark’s Danske Bank tumbled toward the bottom of the European benchmark on Tuesday. The mining company also reported a drop in annual core earnings that was in line with analyst expectations. Shares o
Autos stocks lead gains as European markets move higher; Danske Bank shares dive 5% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: sam meredith
Keywords: news, cnbc, companies, lead, higher, european, bank, fiat, scandal, rose, dive, gains, stocks, danske, stock, markets, chrysler, billion, tumbled, reported, shares


Autos stocks lead gains as European markets move higher; Danske Bank shares dive 5%

Europe’s autos stocks led the gains, up more than 2.4 percent after French daily Los Echos reported on Monday that the Peugeot family could favor Fiat Chrysler as a candidate for possible consolidation operations. Shares of Fiat Chrysler jumped 5 percent on the news. Faurecia, Porsche and Daimler were also more than 3 percent higher.

Looking at individual stocks, Denmark’s Danske Bank tumbled toward the bottom of the European benchmark on Tuesday. It comes after two U.S. law firms filed a lawsuit against the lender on behalf of institutional investors over a 200 billion euro ($227 billion) money laundering scandal. Shares of the Copenhagen-listed stock fell over 5 percent.

Meanwhile, Antofagasta rose to the top of the index after it announced a higher-than-expected dividend payout on Tuesday. The mining company also reported a drop in annual core earnings that was in line with analyst expectations. Shares of the London-listed stock gained 3 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: sam meredith
Keywords: news, cnbc, companies, lead, higher, european, bank, fiat, scandal, rose, dive, gains, stocks, danske, stock, markets, chrysler, billion, tumbled, reported, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Aussie dollar falls on reported coal ban from China — but analysts see limited impact

The Australian dollar tumbled from levels above $0.7200 to below $0.7100 following reports that China banned coal imports from the country at a major port. Reuters reported on Thursday that customs at the Chinese port of Dalian has banned imported Australian coal since February, and will “cap overall coal imports from all sources to the end of 2019 at 12 million tonnes.” It also said that major ports elsewhere in China prolonged clearing times for Australian coal to at least 40 days. He added th


The Australian dollar tumbled from levels above $0.7200 to below $0.7100 following reports that China banned coal imports from the country at a major port. Reuters reported on Thursday that customs at the Chinese port of Dalian has banned imported Australian coal since February, and will “cap overall coal imports from all sources to the end of 2019 at 12 million tonnes.” It also said that major ports elsewhere in China prolonged clearing times for Australian coal to at least 40 days. He added th
Aussie dollar falls on reported coal ban from China — but analysts see limited impact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: saheli roy choudhury, carla gottgens, bloomberg, getty images, -vivek dhar, national australia bank
Keywords: news, cnbc, companies, china, analysts, falls, australian, times, reported, coal, tumbled, impact, trade, limited, ban, aussie, dollar, australia, chinese, banned


Aussie dollar falls on reported coal ban from China — but analysts see limited impact

The Australian dollar tumbled from levels above $0.7200 to below $0.7100 following reports that China banned coal imports from the country at a major port.

Reuters reported on Thursday that customs at the Chinese port of Dalian has banned imported Australian coal since February, and will “cap overall coal imports from all sources to the end of 2019 at 12 million tonnes.” It also said that major ports elsewhere in China prolonged clearing times for Australian coal to at least 40 days.

On Friday afternoon, the Australian dollar eked out slight gains to trade at $0.7101 at 2:55 p.m. HK/SIN, up from an earlier low of $0.7081. Local coal stocks mostly sold off. Shares of BHP fell 0.42 percent, Whitehaven retraced losses to gain 0.66 percent, Yancoal declined 2.8 percent and New Hope Group tumbled 3.55 percent.

Market speculation suggests Thursday’s report may be a reflection of strains in the political and trade relationship between Australia and China in recent times, Ivan Colhoun, chief economist for markets at the National Australia Bank, said in a note. He added that the reported ban would affect a relatively small portion of the country’s coal exports.

Last year, Australia banned Chinese telecommunication companies Huawei and ZTE from selling 5G technology equipment in the country, citing national security concerns. More recently, Australia rescinded the visa of a prominent Chinese businessman.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: saheli roy choudhury, carla gottgens, bloomberg, getty images, -vivek dhar, national australia bank
Keywords: news, cnbc, companies, china, analysts, falls, australian, times, reported, coal, tumbled, impact, trade, limited, ban, aussie, dollar, australia, chinese, banned


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17%

Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. Shares of Sainsbury’s tumbled around


Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. Shares of Sainsbury’s tumbled around
European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: chloe taylor, sam meredith
Keywords: news, cnbc, companies, bank, expected, sainsbury, sainsburys, billion, dive, markets, tumbled, china, european, hopes, stocks, uschina, trade, talks, earnings, higher, shares


European markets close higher amid earnings, US-China trade hopes; Sainsbury shares dive 17%

The pan-European Stoxx 600 closed provisionally up around 0.7 percent on Wednesday, with most sectors and major bourses in positive territory.

Europe’s autos stocks — with their heavy exposure to China — led the gains, up more than 2.3 percent. Officials from the U.S. and China launched a new round of negotiations on Tuesday, with a follow-up session of higher-level talks expected later in the week. President Donald Trump said on Tuesday that he might extend the March 1 deadline for a deal, saying it was not a “magical date.”

Stateside, stocks edged higher after the opening bell, as investors waited for news from the trade talks and clues on monetary policy. The U.S. Federal Reserve’s Open Market Committee is expected to release minutes from its January meeting at 2 p.m. ET.

Back in Europe, Ireland’s Glanbia surged to the top of the European benchmark during morning trade. The nutrition company reported pre-tax profit rose 16 percent in 2018, adding it expected to deliver growth between 5 percent and 8 percent in 2019. Shares of the group jumped 11.8 percent on the news.

Meanwhile, Britain’s Sainsbury’s tumbled to the bottom of the index. It comes after the U.K.’s competition regulator said on Wednesday that the supermarket’s planned $9.5 billion takeover of Walmart-owned Asda should either be blocked or would require the sale of a significant number of stores. Shares of Sainsbury’s tumbled around 17 percent on the news.

Shares of the Swiss bank UBS fell more than 3 percent after a French court found it guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion. The bank was fined 4.5 billion euros ($5.1 billion).


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: chloe taylor, sam meredith
Keywords: news, cnbc, companies, bank, expected, sainsbury, sainsburys, billion, dive, markets, tumbled, china, european, hopes, stocks, uschina, trade, talks, earnings, higher, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post