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uBanker Blog

  • Oil Prices Bounce Back as Risk Appetite Returns, Libyan Outage Continues

    Investing.com - Oil prices bounced back on Tuesday following a sharp decline of 3% in the prior session as risk assets recovered their appeal and a supply outage in Libya continued to support prices ahead of U.S. inventory data.

    New York-traded West Texas Intermediate crude futures gained $1.16, or 2.27%, at $52.16 a barrel by 10:13 AM ET (15:13 GMT).

    Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded up 85 cents, or 1.42%, to $60.82.

    Investors put risk back on the table on Tuesday with U.S. stocks also on the rise as Washington and Beijing began the latest round of trade talks during a telephone call between U.S. Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He.

    U.S. President Donald Trump tweeted that talks were "very productive” and promised that “important announcements” were on the way.

    The president’s tweet came after Bloomberg reported that China is considering cutting its tariffs on U.S.-made vehicles, fueling hopes that amicable negotiations may be capable of avoiding a trade war between the world’s two largest economies.

    Also supporting crude prices, the shutdown at Libya’s El Sharara oilfield after a militia takeover eased fears of oversupply as output was estimated to be hit by 315,000 barrels per day (bpd), with an additional loss of 73,000 bpd, according to Reuters.

    Amid concerns of oversupply, traders will keep a close eye on U.S. inventories. The American Petroleum Institute is due to release its weekly report for the week ended December 7 at 4:30PM ET (21:30 GMT), amid expectations of a drop of about 2.9 million barrels.

    In other energy trading, gasoline futures rose 1.18% to $1.4375 a gallon by 10:16 AM ET (15:16 GMT), while heating oil advanced 0.85% to $1.8598 a gallon.

    Lastly, natural gas futures traded down 3.39% to $4.391 per million British thermal units.

    Read more
  • Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.25%

    Investing.com – Saudi Arabia stocks were higher after the close on Tuesday, as gains in the Building&Construction, Petrochemicals and Financial Services sectors led shares higher.

    At the close in Saudi Arabia, the Tadawul All Share gained 0.25%.

    The best performers of the session on the Tadawul All Share were Saudi Enaya Cooperative Insurance (SE:8311), which rose 8.21% or 2.55 points to trade at 33.60 at the close. Meanwhile, Saudi Advanced Industries Co. (SE:2120) added 5.70% or 0.70 points to end at 12.98 and National Medical Care Company (SE:4005) was up 4.07% or 1.80 points to 46.00 in late trade.

    The worst performers of the session were AlJazira Mawten REIT (SE:4331), which fell 2.86% or 0.46 points to trade at 15.62 at the close. Allied Cooperative Insurance Group (SE:8150) declined 2.33% or 0.44 points to end at 18.44 and Jarir Marketing Co (SE:4190) was down 1.42% or 2.20 points to 152.20.

    Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 115 to 63 and 9 ended unchanged.

    Crude oil for January delivery was up 2.47% or 1.26 to $52.26 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 1.52% or 0.91 to hit $60.88 a barrel, while the February Gold Futures contract rose 0.06% or 0.70 to trade at $1250.10 a troy ounce.

    EUR/SAR was down 0.20% to 4.2535, while USD/SAR fell 0.03% to 3.7519.

    The US Dollar Index Futures was up 0.07% at 97.252.

    Read more
  • Bitcoin Continues to Fall; Allianz Head Calls for Crypto Ban

    Investing.com - Cryptocurrencies continued to fall on Tuesday, while the head of Allianz said cryptoassets should be outlawed.

    Bitcoin dipped 3.5% to $3,381.90 on the Investing.com Index, as of 9:11 AM ET (14:11 GMT).

    Digital coins have fallen dramatically in recent weeks, with Bitcoin trading at 90% less than its value a year ago as traders worry about increased regulatory scrutiny and volatility.

    Cryptocurrencies overall were lower, with the total coin market capitalization at $107 billion at the time of writing, compared to $112 billion on Monday.

    Ethereum, or Ether, decreased 4.5% to $87.24 and Litecoin was at $23.04, down 5%, while XRP slumped 0.9% to $0.29740.

    Andreas Utermann, chief executive of European asset management firm Allianz, said on panel discussion that digital coins should be banned.

    "I am personally surprised that regulators haven't stepped in harder," he added.

    The comments were directed at Andrew Bailey, the head of Britain's Financial Conduct Authority, who was also at the event.

    Bailey responded saying "that's quite strong actually!" before adding there was "no intrinsic value" in cryptoassets.

    In other news, digital coin companies are firing staff due to the most recent market selloff, The Wall Street Journal reported. Blockchain venture firm ConsenSys is cutting 13% of its staff, while blockchain-based social network company Steemit slashed 70% of its employees.

    Read more
  • Gold Prices Edge Higher on Softer Dollar

    Investing.com - Gold prices edged higher on Tuesday, as the metal drew support from a weaker U.S. dollar and growing expectations that the Federal Reserve will need to slow its pace of rate hikes next year.

    Comex gold futures were up $2.85, or around 0.2%, at $1,252.25 a troy ounce by 8:40 AM ET (13:40 GMT), not far from a five-month peak of $1,256.60 touched in the last session.

    Meanwhile, spot gold was trading at $1,246.95 per ounce, up $2.46, or about 0.2%.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.2% at 97.

    Dollar weakness usually benefits gold, as it boosts the metal's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies.

    The Federal Reserve is widely expected to announce its fourth rate hike of 2018 next week, but investors are beginning to question how many increases it can implement next year.

    While policymakers have pointed to three increases in 2019, the market is starting to bet the U.S. central bank may halt its rate hikes altogether next year.

    Lower interest rates can give gold a lift as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout.

    In other metals action, silver futures gained 19.2 cents, or 1.3%, at $14.79 a troy ounce.

    Platinum was up 0.8% at $788.65, while palladium climbed 1.9% to $1,180.45.

    Elsewhere, March copper rallied 4.8 cents, or 1.8%, to $2.768 a pound, as a fresh whiff of optimism over the U.S.-China trade dispute lifted sentiment.

    -- Reuters contributed to this report.

    Read more
  • Stocks - Alphabet, Wells Fargo, Ford, GM Gain in Premarket; Stitch Plunges

    Investing.com - Stocks in focus in premarket trade Tuesday:

    • Alphabet (NASDAQ:GOOGL) stock gained 1.27% by 8:10 AM ET (13:10 GMT) as Google’s chief executive officer Sundar Pichai prepared to testify Tuesday at a hearing before the congressional House Judiciary Committee, called “Transparency & Accountability: Examining Google and its Data Collection, Use and Filtering Practices.” Separately, Google was fined 500,000 rubles ($7,530) by Russia for not complying with the removal of certain entries from its search results, according to TASS news agency.

    Wells Fargo (NYSE:WFC) stock rose 1.02% amid news that Federal Reserve Chairman Jerome Powell said the bank will not be allowed to grow until it fixes management policies to prevent any further abuse of its customers, according to a letter cited by Reuters.

    • Ford Motor (NYSE:F) stock, General Motors (NYSE:GM) stock and Fiat Chrysler (NYSE:FCAU) stock gained 2.46%, 2.70% and 1.96%, respectively, after Bloomberg reported that China is considering cutting its tariffs on U.S. vehicles.

    Stitch Fix (NASDAQ:SFIX) stock plunged 17.44% as the company reported user growth that missed analysts’ expectations.

    • Entera Bio (NASDAQ:ENTX) stock skyrocketed 27.50% after the company announced a strategic research collaboration with Amgen (NASDAQ:AMGN) to focus on inflammatory disease and other serious illnesses.

    Ascena Retail Group (NASDAQ:ASNA) stock may see upside in the regular session as the company’s fiscal first-quarter revenue, profit and comparable sales topped consensus.

    Caseys General Stores (NASDAQ:CASY) stock could see downside in the regular session as the company’s quarterly sales of fuel fell more than expected and its forecast for same-store gallons sold for its fiscal third quarter missed expectations.

    Read more
  • MarketPulse Europe: Miners Rally Amid U.S., China Trade Hopes

    Investing.com - The European basic resource sector jumped in midday trade on Tuesday, as a fresh whiff of optimism over the U.S.-China trade dispute lifted sentiment.

    The pan-European Stoxx 600 Basic Resources index, with its heavy exposure to China, was up 2.3% by 6:40AM ET (11:40 GMT).

    The United States and China kicked off the latest round of trade talks during a telephone call between U.S. Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He.

    "Both sides exchanged views on putting into effect the consensus reached by the two countries' leaders at their meeting, and pushing forward the timetable and roadmap for the next stage of economic and trade consultations work," China's commerce ministry said.

    The news renewed hopes of a trade agreement between Washington and Beijing.

    Mining heavyweights BHP Billiton (LON:BHPB) and Rio Tinto (LON:RIO) were both trading more than 2% higher in London.

    Copper producers such as Antofagasta (LON:ANTO) and Anglo American (LON:AAL) also contributed to the upbeat performance for the sector, with their stocks gaining 3.6% and 3.5% respectively.

    -- Reuters contributed to this report

    Read more
  • India stocks higher at close of trade; Nifty 50 up 0.58%

    Investing.com – India stocks were higher after the close on Tuesday, as gains in the Consumer Durables, Healthcare and Fast Moving Consumer Goods sectors led shares higher.

    At the close in NSE, the Nifty 50 added 0.58%, while the BSE Sensex 30 index added 0.54%.

    The best performers of the session on the Nifty 50 were Yes Bank Ltd (NS:YESB), which rose 8.09% or 13.40 points to trade at 177.85 at the close. Meanwhile, Sun Pharmaceutical Industries Ltd. (NS:SUN) added 6.22% or 24.80 points to end at 422.30 and Asian Paints Ltd. (NS:ASPN) was up 3.82% or 48.65 points to 1323.60 in late trade.

    The worst performers of the session were Hindustan Petroleum Corporation Ltd (NS:HPCL), which fell 3.00% or 6.80 points to trade at 220.10 at the close. Indian Oil Corporation Ltd (NS:IOC) declined 1.75% or 2.35 points to end at 131.95 and Bharti Airtel Ltd. (NS:BRTI) was down 1.61% or 4.75 points to 290.25.

    The top performers on the BSE Sensex 30 were Yes Bank Ltd (BO:YESB) which rose 7.29% to 177.40, Sun Pharmaceutical Industries Ltd. (BO:SUN) which was up 5.75% to settle at 421.80 and Asian Paints Ltd. (BO:ASPN) which gained 4.03% to close at 1323.95.

    The worst performers were Hero MotoCorp Ltd (BO:HROM) which was down 1.58% to 2994.00 in late trade, Bharti Airtel Ltd (BO:BRTI) which lost 1.43% to settle at 290.10 and HDFC Bank Ltd (BO:HDBK) which was down 1.36% to 2060.80 at the close.

    Rising stocks outnumbered declining ones on the India National Stock Exchange by 1138 to 420 and 60 ended unchanged; on the Bombay Stock Exchange, 1581 rose and 757 declined, while 131 ended unchanged.

    The India VIX, which measures the implied volatility of Nifty 50 options, was down 12.20% to 17.9450.

    Gold Futures for February delivery was up 0.29% or 3.65 to $1253.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.76% or 0.39 to hit $51.39 a barrel, while the February Brent oil contract rose 0.70% or 0.42 to trade at $60.39 a barrel.

    USD/INR was down 0.82% to 71.875, while EUR/INR fell 0.76% to 81.7560.

    The US Dollar Index Futures was down 0.23% at 96.963.

    Read more
  • Indonesia stocks lower at close of trade; IDX Composite Index down 0.57%

    Investing.com – Indonesia stocks were lower after the close on Tuesday, as losses in the Basic Industry, Infrastructure and Manufacturing sectors led shares lower.

    At the close in Jakarta, the IDX Composite Index fell 0.57%.

    The best performers of the session on the IDX Composite Index were Dewata Freight International Tbk PT (JK:DEAL), which rose 24.87% or 98 points to trade at 492 at the close. Meanwhile, Protech Mitra Perkasa Tbk PT (JK:OASA) added 21.14% or 52 points to end at 298 and Tifico Fiber Indonesia Tbk (JK:TFCO) was up 20.00% or 130 points to 780 in late trade.

    The worst performers of the session were Trikomsel Oke Tbk (JK:TRIO), which fell 24.14% or 70 points to trade at 220 at the close. Yanaprima Hastapersada Tbk (JK:YPAS) declined 21.38% or 155 points to end at 570 and Sinergi Megah Internusa Tbk PT (JK:NUSA) was down 13.92% or 22 points to 136.

    Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 235 to 172 and 113 ended unchanged.

    Crude oil for January delivery was up 0.45% or 0.23 to $51.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February rose 0.32% or 0.19 to hit $60.16 a barrel, while the February Gold Futures contract rose 0.41% or 5.10 to trade at $1254.50 a troy ounce.

    USD/IDR was up 0.23% to 14617.7, while AUD/IDR rose 0.40% to 10514.50.

    The US Dollar Index Futures was down 0.30% at 96.890.

    Read more
  • UK Unemployment Rate Holds at 4.1%, Wage Growth Hits 10-Year High

    Investing.com - The UK unemployment rate remained unchanged in October, while wage inflation picked up to its fastest pace in 10 years, according to official data released Tuesday.

    The Office for National Statistics reported that the unemployment rate was 4.1% in October, unchanged from a month earlier and in line with expectations.

    Average earnings, excluding bonuses, rose by an annualized 3.3% in the three months to October, up from 3.2% in the three months to September.

    Including bonuses, pay growth also rose by an annualized 3.3%, above expectations for 3.0%.

    It was the fastest increase in wage growth since the financial crisis a decade ago and means that wages are still outstripping inflation, which rose at an annual rate of 2.2% in October.

    The number of people unemployment in the UK rose by 20,000 in August-October. The total number of people unemployed rose to 1.38 million, up from 1.36 million in the three months to July.

    But there were also 79,000 more people in work than in May-July, taking the total to 32.48 million.

    Read more
  • Cardano Dips Below 0.029764 Level, Down 2%

    Investing.com - Cardano fell bellow the $0.029764 level on Tuesday. Cardano was trading at 0.029764 by 04:09 (09:09 GMT) on the Investing.com Index, down 1.59% on the day. It was the largest one-day percentage loss since December 10.

    The move downwards pushed Cardano's market cap down to $779.72027M, or 0.70% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.

    Cardano had traded in a range of $0.029255 to $0.030106 in the previous twenty-four hours.

    Over the past seven days, Cardano has seen a drop in value, as it lost 22.83%. The volume of Cardano traded in the twenty-four hours to time of writing was $11.58095M or 0.09% of the total volume of all cryptocurrencies. It has traded in a range of $0.0272 to $0.0376 in the past 7 days.

    At its current price, Cardano is still down 97.80% from its all-time high of $1.35 set on January 4.

    Elsewhere in cryptocurrency trading

    Bitcoin was last at $3,463.8 on the Investing.com Index, down 1.53% on the day.

    XRP was trading at $0.30381 on the Investing.com Index, a loss of 0.86%.

    Bitcoin's market cap was last at $60.80905B or 54.97% of the total cryptocurrency market cap, while XRP's market cap totaled $12.48256B or 11.28% of the total cryptocurrency market value.

    Read more
  • Dollar Slips, Pound Steadies after Decline on Brexit Vote Delay

    Investing.com - The U.S. dollar slid lower against a currency basket on Tuesday while the pound found some support after a steep selloff in the previous session in the wake of a shock decision by British Prime Minister Theresa May to delay a key vote on Brexit.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.23% to 96.95 by 03:48 AM ET (08:48 AM GMT).

    The index surged 0.73% on Monday, rebounding from one-week lows boosted by the steep drop in sterling.

    The U.S. dollar has been pressured lower by growing view that the Federal Reserve could pause its rate hike cycle sooner than previously thought.

    The 10-year Treasury note yield has dropped to a three-month low this week, with dovish comments from Fed officials and soft U.S. data further sharpening views on an imminent pause in the tightening cycle.

    "Falling U.S. yields will eventually nudge the dollar into a downtrend, but probably not at this moment," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

    "There just isn't enough demand for the yen, which is less of a safe haven, and the euro, with the political concerns in Europe. And there is of course the pound which is burdened with Brexit problems."

    The pound pushed higher, with GBP/USD rising 0.44% to 1.2617 after slumping 1.3% the previous day, when the pair plumbed 1.2507, its lowest since April 2017.

    The euro pulled back from three month highs against the pound, with EUR/GBP down 0.21% to 0.9021.

    Sterling weakened broadly on Monday after May called off the vote on whether to approve the Brexit withdrawal deal she negotiated with Brussels following repeated warnings from lawmakers that the scale of the expected defeat could bring down her government.

    May's abrupt decision opened up a range of possibilities from a no-deal Brexit, a last-minute agreement or a fresh referendum on EU membership.

    The euro was higher against the U.S. currency, with EUR/USD rising 0.25% to 1.1382.

    The greenback fell against the yen, with USD/JPY losing 0.24% to trade at 113.08 after rising 0.6% on Monday.

    "It is difficult to draw a very bearish scenario for the dollar as talk of the U.S. economy slipping into recession and the Fed switching to monetary easing from tightening seems too far-fetched at this point," said Koji Fukaya, president at FPG Securities in Tokyo.

    "Whenever there is a global risk-off event, the dollar will find demand - as long as the risk aversion does not originate in the United States."

    -- Reuters contributed to this report

    Read more
  • Japan stocks lower at close of trade; Nikkei 225 down 0.34%

    Investing.com – Japan stocks were lower after the close on Tuesday, as losses in the Chemical, Petroleum&Plastic, Mining and Automobiles&Parts sectors led shares lower.

    At the close in Tokyo, the Nikkei 225 lost 0.34% to hit a new 6-months low.

    The best performers of the session on the Nikkei 225 were Familymart Ltd (T:8028), which rose 4.71% or 780.0 points to trade at 17350.0 at the close. Meanwhile, Softbank Corp. (T:9984) added 2.45% or 211.0 points to end at 8827.0 and Yamato Holdings Co., Ltd. (T:9064) was up 2.37% or 70.0 points to 3018.0 in late trade.

    The worst performers of the session were Showa Shell Sekiyu K.K. (T:5002), which fell 7.39% or 122.0 points to trade at 1528.0 at the close. JX Holdings, Inc. (T:5020) declined 6.66% or 43.0 points to end at 602.7 and Toho Zinc Co., Ltd. (T:5707) was down 5.16% or 180.0 points to 3305.0.

    Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2938 to 620 and 166 ended unchanged.

    Shares in JX Holdings, Inc. (T:5020) fell to 52-week lows; down 6.66% or 43.0 to 602.7. Shares in Toho Zinc Co., Ltd. (T:5707) fell to 52-week lows; down 5.16% or 180.0 to 3305.0.

    The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 12.20% to 23.92 a new 1-month high.

    Crude oil for January delivery was down 0.06% or 0.03 to $50.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.10% or 0.06 to hit $59.91 a barrel, while the February Gold Futures contract rose 0.33% or 4.15 to trade at $1253.55 a troy ounce.

    USD/JPY was down 0.25% to 113.06, while EUR/JPY rose 0.02% to 128.73.

    The US Dollar Index Futures was down 0.25% at 96.938.

    Read more
  • China stocks higher at close of trade; Shanghai Composite up 0.37%

    Investing.com – China stocks were higher after the close on Tuesday, as gains in the Real Estate Investments&Services, Media and Travel&Leisure sectors led shares higher.

    At the close in Shanghai, the Shanghai Composite rose 0.37%, while the SZSE Component index gained 0.79%.

    The best performers of the session on the Shanghai Composite were Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165), which rose 10.08% or 0.500 points to trade at 5.460 at the close. Meanwhile, Shaanxi Broadcast&TV Network Intermediary Group Co Ltd (SS:600831) added 10.03% or 0.670 points to end at 7.350 and Anhui Xinli Finance Co Ltd (SS:600318) was up 10.03% or 0.720 points to 7.900 in late trade.

    The worst performers of the session were Zhejiang Langdi Group Co Ltd (SS:603726), which fell 10.00% or 2.520 points to trade at 22.680 at the close. Jiangsu Kanion Pharmaceutical Co Ltd (SS:600557) declined 6.00% or 0.680 points to end at 10.650 and Shanghai Zhongyida Co Ltd A (SS:600610) was down 5.24% or 0.10 points to 1.81.

    The top performers on the SZSE Component were Shenzhen Hepalink Pharmaceutical Co Ltd (SZ:002399) which rose 7.78% to 22.43, Risesun Real Estate Development Co Ltd (SZ:002146) which was up 7.27% to settle at 8.71 and Guangdong Advertising Co Ltd (SZ:002400) which gained 7.17% to close at 3.14.

    The worst performers were Jiangsu Jiujiujiu Technology Co Ltd (SZ:002411) which was down 5.64% to 22.60 in late trade, Hunan TV&Broadcast Intermediary Co Ltd (SZ:000917) which lost 4.78% to settle at 6.57 and Han'S Laser Tech A (SZ:002008) which was down 3.38% to 31.49 at the close.

    Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1022 to 358 and 93 ended unchanged.

    The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 27.11.

    Gold Futures for February delivery was up 0.29% or 3.65 to $1253.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.04% or 0.02 to hit $51.02 a barrel, while the February Brent oil contract fell 0.02% or 0.01 to trade at $59.96 a barrel.

    USD/CNY was down 0.25% to 6.8951, while EUR/CNY fell 0.08% to 7.8408.

    The US Dollar Index Futures was down 0.15% at 97.042.

    Read more
  • Gold Prices Edge up as U.S. Dollar Slips

    Investing.com - Gold prices edged up on Tuesday in Asia as the U.S. dollar fell.

    Gold futures for February delivery on the Comex division of the New York Mercantile Exchange traded 0.3% higher at $1,252.70 a troy ounce by 1:24 AM ET (05:24 GMT). 

    The yellow metal notched its biggest weekly gain since August last week.

    A fourth Federal Reserve rate hike for this year is expected next week, but the road from there is unclear. While Fed policymakers have pointed to three increases in 2019, the market is only anticipating one.

    Lower interest rates can give gold a lift as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout.

    The U.S. dollar index that tracks the greenback against a basket of other currencies traded 0.1% lower to 97.058.

    The dollar received some support earlier in the day, as the pound plunged on Brexit uncertainty after British Prime Minister Theresa May called off a planned vote on her EU withdrawal deal.

    U.S.-China relations also remained in focus following the arrest of the CFO of China’s Huawei Technologies last week.

    On Tuesday, Reuters reported that Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke on the phone on Tuesday to discuss the roadmap for the next stage of their trade talks.

    Read more
  • Australia stocks higher at close of trade; S&P/ASX 200 up 0.42%

    Investing.com – Australia stocks were higher after the close on Tuesday, as gains in the Healthcare, IT and Metals&Mining sectors led shares higher.

    At the close in Sydney, the S&P/ASX 200 gained 0.42%.

    The best performers of the session on the S&P/ASX 200 were New Hope Corporation Ltd (AX:NHC), which rose 7.94% or 0.250 points to trade at 3.400 at the close. Meanwhile, TPG Telecom Ltd (AX:TPM) added 5.71% or 0.420 points to end at 7.780 and Saracen Mineral Holdings Ltd (AX:SAR) was up 4.92% or 0.130 points to 2.770 in late trade.

    The worst performers of the session were Sigma Pharmaceuticals Ltd (AX:SIG), which fell 6.90% or 0.030 points to trade at 0.405 at the close. Qbe Insurance Group Ltd (AX:QBE) declined 4.14% or 0.430 points to end at 9.960 and Bingo Industries Ltd (AX:BIN) was down 3.79% or 0.080 points to 2.030.

    Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 594 to 505 and 358 ended unchanged.

    Shares in Sigma Pharmaceuticals Ltd (AX:SIG) fell to 5-year lows; down 6.90% or 0.030 to 0.405. Shares in Saracen Mineral Holdings Ltd (AX:SAR) rose to all time highs; up 4.92% or 0.130 to 2.770. Shares in Bingo Industries Ltd (AX:BIN) fell to 52-week lows; down 3.79% or 0.080 to 2.030.

    The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 6.18% to 18.749.

    Gold Futures for February delivery was up 0.26% or 3.20 to $1252.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 0.16% or 0.08 to hit $51.08 a barrel, while the February Brent oil contract rose 0.13% or 0.08 to trade at $60.05 a barrel.

    AUD/USD was up 0.22% to 0.7206, while AUD/JPY rose 0.01% to 81.49.

    The US Dollar Index Futures was down 0.14% at 97.047.

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  • Oil Prices Edge Up After Production Cut Announcement

    Investing.com - Oil prices edged up on Tuesday in Asia after falling 3% in the previous session as a cut promised by Saudi Arabia and its allies in the enlarged OPEC+ failed to boost oil prices.

    Crude Oil WTI Futures for January delivery gained 0.31% to $51.16 per barrel at 12:37 AM ET (05:37 GMT) on the New York Mercantile Exchange. With just three weeks to the end of 2018, WTI remains down nearly 16% on the year and 34% lower from four-year highs of nearly $77 per barrel hit in early October.

    London’s Intercontinental Exchange showed that Brent Oil Futures for February delivery gained 0.3% to $60.16 a barrel. Brent remains down 10% on the year, and 31% lower from four-year highs of nearly $87 per barrel hit two months ago.

    OPEC announced Friday that it would reduce overall production among its members by 1.2 million barrels per day (bpd) during the first six months of 2019 in an effort to stave off a global glut in supplies and prop up prices.

    The producer club will curb output by 0.8 million bpd from October levels, while non-OPEC allies contribute an additional 0.4 million bpd of cuts, in a move to be reviewed at a meeting in April.

    Oil prices jumped on Friday following the news, but gave back most of their gain on Monday, as markets are not convinced the cuts would be sufficient to end oversupply.

    Edward Bell, a commodity analyst at Emirates NBD bank, said in a note on Sunday that "the scale of the cuts...isn't enough to push the market back into deficit" and that he expected "a market surplus of around 1.2 million bpd in Q1 with the new production levels."

    Concerns surrounding global growth, trade war and Brexit worries were also cited as headwind for oil prices.

    Tensions between China and the U.S. remained high despite a tentative ceasefire in their trade war, as investors worried the arrest of the CFO of China’s Huawei Technologies last week would create more conflict between Beijing and Washington.

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  • Cryptocurrencies Dip Amidst Market Selloff

    Investing.com - Major cryptocurrencies dropped on Tuesday morning in Asia, amid reports that digital token companies are cutting staff to survive a massive market selloff.

    Bitcoin fell 3.1% to $3,462.7 and Ethereum was down 2.3% to $90.6 at 11:30 PM ET (04:30 GMT).

    XRP edged up 0.3% to $0.30909, while Litecoin dropped 2.7% to $24.230.

    Cryptocurrency companies are laying off more staff to survive a market selloff, the Wall Street Journal reported. Blockchain venture firm ConsenSys plans to cut 13% of its staff, while blockchain-based social network company Steemit slashed 70% of its employees, the WSJ reported.

    Bitcoin has dropped nearly 80% to its lowest point this year from $17,172.3 at its peak in January, while Ethereum also slid nearly 90% from January this year. The total cryptocurrency market capitalization took a nosedive of 7 times from the start of the year, according to data from CoinMarketCap.

    “As things get real we have to be a lean, business-minded organization,” ConsenSys founder Joseph Lubin told the Wall Street Journal.

    On the flip side, global organizations are eager to try their hands in the ledger technology to solve global challenges. UNICEF, the United Nations’ arm for children, announced a $100,000 investment in six blockchain startups to deliver open-source prototypes of blockchain applications within a year.

    “Blockchain technology is still at an early stage – and there is a great deal of experimentation, failure, and learning ahead of us as we see how, and where, we can use this technology to create a better world,” said UNICEF Innovation Principal Adviser Chris Fabian.

    Elsewhere, Alberta, Canada launched the country’s first city digital currency, Calgary Digital Dollars, last Friday with an aim to bolster small businesses and non-profit organizations in the city. The token is used in a mobile app that lists the companies that joined the program, according to Global News.

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  • Asian Markets Mixed as China, U.S. Discuss Next Stage of Trade Talks

    Investing.com - Asian markets were mixed in morning trade on Tuesday amid reports that China and the U.S. are preparing next stage of trade talks.

    Reuters reported that Chinese Vice Premier Liu He, U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke on the phone to discuss the roadmap for the next stage of their trade talks.

    The conversation came after U.S. President Donald Trump and Chinese President Xi Jinping agreed to pause the planned increase of Jan.1 U.S. tariffs to 25% from 10% on $200 billion of Chinese goods.

    But tension between the two countries remained high following the arrest of the CFO of China’s Huawei Technologies last week.

    The Shanghai Composite and the Shenzhen Composite traded 0.3% and 0.5% higher respectively by 10:40 PM ET (03:40 GMT). Hong Kong’s Hang Seng Index slipped 0.2%.

    Overnight, Wall Street had a volatile session which saw the Dow Jones Industrial Average recover from a 507-point drop. The Index closed 0.14% higher at 24,423. The S&P 500 added 0.18%, while the Nasdaq Composite climbed 0.74%.

    Apple (NASDAQ:AAPL) rebounded from session lows after it filed an appeal to overturn a decision banning the sale of its iPhones in China.

    A Chinese court had granted Qualcomm (NASDAQ:QCOM) an injunction against Apple banning the iPhone maker from selling most of its iPhones in China. The ban, which is not expected apply to Apple's latest slate of iPhones appeared to provide some respite for investors.

    Meanwhile, Japan’s Nikkei 225 declined 0.3%. Softbank (T:9984) jumped almost 3% in the morning after the company announced shares of its mobile unit IPO would be priced at 1,500 yen apiece.

    Elsewhere in Asia, South Korea’s KOSPI was little changed at 2,053.2. Australia’s ASX 200 edged up 0.1%.

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  • U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.14%

    Investing.com – U.S. stocks were higher after the close on Monday, as gains in the Technology, Healthcare and Consumer Services sectors led shares higher.

    At the close in NYSE, the Dow Jones Industrial Average added 0.14%, while the S&P 500 index gained 0.18%, and the NASDAQ Composite index added 0.74%.

    The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation (NASDAQ:MSFT), which rose 2.64% or 2.77 points to trade at 107.59 at the close. Meanwhile, Intel Corporation (NASDAQ:INTC) added 2.10% or 0.97 points to end at 47.21 and International Business Machines (NYSE:IBM) was up 1.50% or 1.79 points to 121.13 in late trade.

    The worst performers of the session were JPMorgan Chase&Co (NYSE:JPM), which fell 1.87% or 1.93 points to trade at 101.36 at the close. Exxon Mobil Corp (NYSE:XOM) declined 1.42% or 1.10 points to end at 76.54 and Nike Inc (NYSE:NKE) was down 1.13% or 0.83 points to 72.51.

    The top performers on the S&P 500 were EQT Corporation (NYSE:EQT) which rose 6.63% to 19.63, Northrop Grumman Corporation (NYSE:NOC) which was up 4.93% to settle at 270.23 and Broadcom Inc (NASDAQ:AVGO) which gained 4.68% to close at 239.25.

    The worst performers were Apache Corporation (NYSE:APA) which was down 5.30% to 31.26 in late trade, Newfield Exploration Company (NYSE:NFX) which lost 5.05% to settle at 15.61 and Under Armour Inc C (NYSE:UA) which was down 4.80% to 21.010 at the close.

    The top performers on the NASDAQ Composite were Xperi Corp (NASDAQ:XPER) which rose 43.74% to 18.37, Innovate Biopharmaceuticals Inc (NASDAQ:INNT) which was up 38.39% to settle at 3.10 and NutriSystem Inc (NASDAQ:NTRI) which gained 27.72% to close at 43.68.

    The worst performers were Tivity Health Inc (NASDAQ:TVTY) which was down 31.91% to 27.65 in late trade, Draper Oakwood Technology Acquisition Inc Class A (NASDAQ:DOTA) which lost 28.82% to settle at 6.43 and Axovant Sciences Ltd (NASDAQ:AXON) which was down 27.49% to 1.24 at the close.

    Falling stocks outnumbered advancing ones on the New York Stock Exchange by 2070 to 1014 and 80 ended unchanged; on the Nasdaq Stock Exchange, 1529 fell and 1122 advanced, while 77 ended unchanged.

    Shares in Apache Corporation (NYSE:APA) fell to 5-year lows; falling 5.30% or 1.75 to 31.26. Shares in Newfield Exploration Company (NYSE:NFX) fell to 5-year lows; losing 5.05% or 0.83 to 15.61. Shares in JPMorgan Chase&Co (NYSE:JPM) fell to 52-week lows; losing 1.87% or 1.93 to 101.36. Shares in Tivity Health Inc (NASDAQ:TVTY) fell to 52-week lows; down 31.91% or 12.96 to 27.65. Shares in Draper Oakwood Technology Acquisition Inc Class A (NASDAQ:DOTA) fell to all time lows; losing 28.82% or 2.60 to 6.43.

    The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 2.54% to 22.64.

    Gold Futures for February delivery was down 0.22% or 2.75 to $1249.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 3.42% or 1.80 to hit $50.81 a barrel, while the February Brent oil contract fell 2.90% or 1.79 to trade at $59.88 a barrel.

    EUR/USD was down 0.23% to 1.1353, while USD/JPY rose 0.58% to 113.34.

    The US Dollar Index Futures was up 0.73% at 97.180.

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  • Brazil stocks lower at close of trade; Bovespa down 2.50%

    Investing.com – Brazil stocks were lower after the close on Monday, as losses in the Financials, Consumption and Industrials sectors led shares lower.

    At the close in Sao Paulo, the Bovespa fell 2.50%.

    The best performers of the session on the Bovespa were Embraer SA (SA:EMBR3), which rose 2.00% or 0.41 points to trade at 20.88 at the close. Meanwhile, Cyrela Brazil Realty SA (SA:CYRE3) added 1.69% or 0.25 points to end at 15.00 and Hypermarcas SA (SA:HYPE3) was up 1.52% or 0.48 points to 32.03 in late trade.

    The worst performers of the session were Gol Linhas Aereas Inteligentes SA Pref (SA:GOLL4), which fell 7.12% or 1.41 points to trade at 18.40 at the close. Marfrig Alimentos SA (SA:MRFG3) declined 5.43% or 0.34 points to end at 5.92 and Petroleo Brasileiro SA PN (SA:PETR4) was down 5.37% or 1.33 points to 23.44.

    Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 317 to 121 and 26 ended unchanged.

    The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 6.19% to 37.03.

    Gold Futures for February delivery was down 0.26% or 3.20 to $1249.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 3.40% or 1.79 to hit $50.82 a barrel, while the March US coffee C contract rose 1.10% or 1.15 to trade at $105.25 .

    USD/BRL was up 0.27% to 3.9177, while EUR/BRL fell 0.06% to 4.4478.

    The US Dollar Index Futures was up 0.73% at 97.178.

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  • Colombia stocks lower at close of trade; COLCAP down 0.57%

    Investing.com – Colombia stocks were lower after the close on Monday, as losses in the Industrials, Services and Public Services sectors led shares lower.

    At the close in Colombia, the COLCAP lost 0.57%.

    The best performers of the session on the COLCAP were Grupo Nutresa SA (CN:NCH), which rose 2.60% or 600.0 points to trade at 23700.0 at the close. Meanwhile, Grupoaval (CN:GAA) added 0.98% or 10.0 points to end at 1030.0 and Bcolombia (CN:BIC) was up 0.62% or 200.0 points to 32300.0 in late trade.

    The worst performers of the session were Avianca Holdings Pf (CN:AVT_p), which fell 7.62% or 160.0 points to trade at 1940.0 at the close. Conconcret (CN:CIC) declined 3.76% or 12.0 points to end at 307.0 and Ecopetrol SA (CN:ECO) was down 3.23% or 100.0 points to 3000.0.

    Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 16 to 8 and 1 ended unchanged.

    Shares in Avianca Holdings Pf (CN:AVT_p) fell to 52-week lows; down 7.62% or 160.0 to 1940.0.

    US coffee C for March delivery was up 1.10% or 1.15 to $105.25 . Elsewhere in commodities trading, US cocoa for delivery in March fell 1.21% or 27.00 to hit $2198.00 , while the February Gold Futures contract fell 0.29% or 3.60 to trade at $1249.00 a troy ounce.

    USD/COP was up 1.16% to 3183.65, while BRL/COP rose 0.90% to 812.63.

    The US Dollar Index Futures was up 0.72% at 97.167.

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  • Oil Ends Down 3%; Impact of Output Cuts Questioned

    Investing.com - A production cut should've been the most bullish story for oil this year, but the market isn't buying it yet.

    Just a day after rallying on the cuts promised by Saudi Arabia and its allies in the enlarged OPEC+, which includes Russia, global growth, trade war and Brexit worries took oil down again.

    U.S. West Texas Intermediate crude settled down $1.61, or 3%, at $51 per barrel as risk aversion gripped markets. With just three weeks to the end of 2018, WTI remains down nearly 16% on the year and 34% lower from four-year highs of nearly $77 per barrel hit in early October.

    Brent, the global benchmark for crude, fell by $1.79, or also 3%, to $59.88 per barrel by 2:40 PM ET (17:45 GMT). Brent remains down 10% on the year and 31% lower from four-year highs of nearly $87 per barrel hit two months ago.

    "OPEC resisted outside forces and pressure from President Donald Trump to cut production, only to have oil falter from outside market forces," said Phil Flynn, analyst at Chicago's Price Futures Group.

    Global macro weakness aside, traders and investors in oil are asking another question that could increase in resonance in the coming days and weeks: Is the 1.2 million barrels per day (bpd) cut pledged enough in the face of relentless U.S. supply?

    On the surface, OPEC's offer to reduce 800,000 bpd, while Russia and the rest cough up the balance of 400,000 bpd, is almost on target to the 1.3 million bpd the market predicted. But what the bigwigs who gathered in Vienna last week seemed to have missed -- or ignored out of convenience -- is how much more U.S. supply could come on board if WTI gained by another $5 or $10 a barrel by the first quarter of next year.

    The United States is already the world’s largest oil producer, churning out 11.7 million bpd. Last week, it also became a net oil exporter for the first time in 75 years, shipping more crude and oil products combined than what it imported.

    "We added 2 million barrels in the U.S. over the last one year with a 30% price gain," John Kilduff, partner at New York energy hedged fund Again Capital, said. "So, logically, a 15% price gain could bring in another million barrels or more, enough to negate these cuts.”

    Kilduff is betting that the majority of U.S. shale drillers have secured enough hedges at $60 to $70 per barrel to keep them going a year forward.

    "Drilling-price efficiencies in shale get better according to the region, where in the Permian you can be profitable at even $40 a barrel versus the mid-to-high $50s you need in the Bakken. WTI at $55 to $60 over the next six months will be good for many U.S. drillers.”

    Goldman Sachs concurred.

    "With U.S. producers budgeting and realizing WTI $55 per barrel in 2018 and beating production expectations, we see upside risks to U.S. production growth later next year should the cuts generate too large a price rally, " the Wall Street bank said in a note to clients. "Such an outcome would test the (Saudi Energy) Minister’s view that shale and Saudi production need to grow together, not one at the expense of the other'."

    Merill Lynch suggested that OPEC was once again underestimating the ability of U.S. shale producers to match output with price incentives.

    "We believe that long-dated prices for both Brent and WTI crude oil prices will likely fail to rally with the front ... because shale producers will likely use the opportunity to increase their long-dated hedges," Merrill said.

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  • Dollar Rides Sterling Slump Higher as May Cans Brexit Deal Vote

    Investing.com - The dollar rose against its rivals Tuesday, helped by a plunge in the pound to 21-month lows after UK Prime Minister Theresa May called off a vote on a Brexit deal expected Tuesday, raising further uncertainty about the country's exit from the European Union.

    The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.70% to 97.15.

    May called off a parliamentary vote for the Brexit deal, deferring it until a later date, fearing that the deal would have not gained the required votes to pass through parliament amid disagreements among UK lawmakers concerning the Irish border, or backstop, issue.

    May attempted to convince parliament that she would seek additional legal assurances from the EU that the backstop will only be temporary during her negotiations in Brussels over the next few days. But EU lawmakers have shown little willingness to ease their stance, reaffirming the Brexit deal was not up for renegotiation.

    "We will not renegotiate the deal, including the backstop, but we are ready to discuss how to facilitate UK ratification. As time is running out, we will also discuss our preparedness for a no-deal scenario," EU Commissioner Donald Tusk said.

    GBP/USD fell 1.59% to $1.2549, while EUR/USD fell 0.22% to $1.1354.

    The dollar rose to session highs against safe-haven yen, meanwhile, on improved risk sentiment.

    USD/JPY rose 0.43% to Y113.19

    The dollar has been under pressure in recent trading sessions on expectations the Federal Reserve may adopt a less aggressive stance on monetary policy tightening next year amid trade uncertainty and slowing global growth.

    "A decision to pause (on rate hikes) in March would also be consistent with the likelihood that tariff-related uncertainty will look particularly high around the end of the 90-day grace period on March 1," Goldman Sachs said in a note to clients.

    USD/CAD, meanwhile, rose 0.94% to C$1.3392 as the loonie came under pressure from falling oil prices.

    -- Reuters contributed to this report.

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  • Netherlands stocks lower at close of trade; AEX down 1.72%

    Investing.com – Netherlands stocks were lower after the close on Monday, as losses in the Technology, Software&Computer Services and Construction&Materials sectors led shares lower.

    At the close in Amsterdam, the AEX declined 1.72% to hit a new 52-week low.

    The best performers of the session on the AEX were Gemalto (AS:GTO), which fell 0.16% or 0.08 points to trade at 50.52 at the close. Meanwhile, ASML Holding NV (AS:ASML) fell 0.65% or 0.92 points to end at 140.64 and Koninklijke Ahold Delhaize NV (AS:AD) was down 0.81% or 0.180 points to 22.000 in late trade.

    The worst performers of the session were Altice NV (AS:ATCA), which fell 7.93% or 0.17 points to trade at 1.94 at the close. ArcelorMittal SA (AS:MT) declined 3.77% or 0.728 points to end at 18.570 and Aegon NV (AS:AEGN) was down 3.56% or 0.161 points to 4.357.

    Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 117 to 16 and 4 ended unchanged.

    Shares in ASML Holding NV (AS:ASML) fell to 52-week lows; losing 0.65% or 0.92 to 140.64. Shares in ArcelorMittal SA (AS:MT) fell to 52-week lows; losing 3.77% or 0.728 to 18.570. Shares in Aegon NV (AS:AEGN) fell to 52-week lows; falling 3.56% or 0.161 to 4.357.

    The AEX Volatility, which measures the implied volatility of AEX options, was up 9.76% to 21.71.

    Crude oil for January delivery was down 1.54% or 0.81 to $51.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.17% or 0.72 to hit $60.95 a barrel, while the February Gold Futures contract fell 0.24% or 3.00 to trade at $1249.60 a troy ounce.

    EUR/USD was down 0.06% to 1.1372, while EUR/GBP rose 1.13% to 0.9044.

    The US Dollar Index Futures was up 0.57% at 97.025.

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  • Italy stocks lower at close of trade; Investing.com Italy 40 down 1.77%

    Investing.com – Italy stocks were lower after the close on Monday, as losses in the Travel&Leisure, Technology and Financials sectors led shares lower.

    At the close in Milan, the Investing.com Italy 40 declined 1.77% to hit a new 52-week low.

    The best performers of the session on the Investing.com Italy 40 were A2A (MI:A2), which rose 0.07% or 0.001 points to trade at 1.499 at the close. Meanwhile, Enel (MI:ENEI) fell 0.13% or 0.006 points to end at 4.742 and Snam SpA (MI:SRG) was down 0.46% or 0.018 points to 3.912 in late trade.

    The worst performers of the session were Moncler SpA (MI:MONC), which fell 5.13% or 1.51 points to trade at 27.94 at the close. Mediaset SpA (MI:MS) declined 5.12% or 0.133 points to end at 2.467 and Saipem SpA (MI:SPMI) was down 4.53% or 0.1760 points to 3.7090.

    Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 284 to 71 and 24 ended unchanged.

    Crude oil for January delivery was down 1.58% or 0.83 to $51.78 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.17% or 0.72 to hit $60.95 a barrel, while the February Gold Futures contract fell 0.29% or 3.65 to trade at $1248.95 a troy ounce.

    EUR/USD was down 0.06% to 1.1372, while EUR/GBP rose 1.14% to 0.9045.

    The US Dollar Index Futures was up 0.57% at 97.028.

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  • Italy stocks lower at close of trade; Investing.com Italy 40 down 1.77%

    Investing.com – Italy stocks were lower after the close on Monday, as losses in the Travel&Leisure, Technology and Financials sectors led shares lower.

    At the close in Milan, the Investing.com Italy 40 declined 1.77% to hit a new 52-week low.

    The best performers of the session on the Investing.com Italy 40 were A2A (MI:A2), which rose 0.07% or 0.001 points to trade at 1.499 at the close. Meanwhile, Enel (MI:ENEI) fell 0.13% or 0.006 points to end at 4.742 and Snam SpA (MI:SRG) was down 0.46% or 0.018 points to 3.912 in late trade.

    The worst performers of the session were Moncler SpA (MI:MONC), which fell 5.13% or 1.51 points to trade at 27.94 at the close. Mediaset SpA (MI:MS) declined 5.12% or 0.133 points to end at 2.467 and Saipem SpA (MI:SPMI) was down 4.53% or 0.1760 points to 3.7090.

    Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 284 to 71 and 24 ended unchanged.

    Crude oil for January delivery was down 1.52% or 0.80 to $51.81 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.12% or 0.69 to hit $60.98 a barrel, while the February Gold Futures contract fell 0.29% or 3.60 to trade at $1249.00 a troy ounce.

    EUR/USD was down 0.06% to 1.1372, while EUR/GBP rose 1.14% to 0.9045.

    The US Dollar Index Futures was up 0.57% at 97.028.

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  • France stocks lower at close of trade; CAC 40 down 1.47%

    Investing.com – France stocks were lower after the close on Monday, as losses in the Gas&Water, General Financial and Foods&Drugs sectors led shares lower.

    At the close in Paris, the CAC 40 declined 1.47% to hit a new 52-week low, while the SBF 120 index declined 1.63%.

    The best performers of the session on the CAC 40 were Carrefour SA (PA:CARR), which rose 0.62% or 0.09 points to trade at 14.67 at the close. Meanwhile, Sanofi SA (PA:SASY) added 0.47% or 0.36 points to end at 76.91 and Sodexo (PA:EXHO) was up 0.34% or 0.30 points to 88.52 in late trade.

    The worst performers of the session were TechnipFMC PLC (PA:FTI), which fell 4.57% or 0.88 points to trade at 18.26 at the close. Peugeot SA (PA:PEUP) declined 3.99% or 0.71 points to end at 17.20 and Renault SA (PA:RENA) was down 3.98% or 2.29 points to 55.28.

    The top performers on the SBF 120 were Soitec SA (PA:SOIT) which rose 1.39% to 49.700, Mercialys (PA:MERY) which was up 1.05% to settle at 12.57 and GTT (PA:GTT) which gained 0.75% to close at 67.60.

    The worst performers were Eramet (PA:ERMT) which was down 24.40% to 48.80 in late trade, CGG SA (PA:GEPH) which lost 16.17% to settle at 1.078 and Imerys (PA:IMTP) which was down 8.39% to 43.44 at the close.

    Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 502 to 97 and 69 ended unchanged.

    Shares in TechnipFMC PLC (PA:FTI) fell to 52-week lows; losing 4.57% or 0.88 to 18.26. Shares in Renault SA (PA:RENA) fell to 3-years lows; falling 3.98% or 2.29 to 55.28. Shares in Eramet (PA:ERMT) fell to 52-week lows; down 24.40% or 15.75 to 48.80. Shares in CGG SA (PA:GEPH) fell to 5-year lows; falling 16.17% or 0.208 to 1.078. Shares in Imerys (PA:IMTP) fell to 5-year lows; losing 8.39% or 3.98 to 43.44.

    The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 8.40% to 22.74.

    Gold Futures for February delivery was down 0.27% or 3.40 to $1249.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 1.62% or 0.85 to hit $51.76 a barrel, while the February Brent oil contract fell 1.17% or 0.72 to trade at $60.95 a barrel.

    EUR/USD was down 0.04% to 1.1374, while EUR/GBP rose 1.13% to 0.9044.

    The US Dollar Index Futures was up 0.55% at 97.007.

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  • Denmark stocks lower at close of trade; OMX Copenhagen 20 down 1.02%

    Investing.com – Denmark stocks were lower after the close on Monday, as losses in the Industrials, Oil&Gas and Financials sectors led shares lower.

    At the close in Copenhagen, the OMX Copenhagen 20 fell 1.02%.

    The best performers of the session on the OMX Copenhagen 20 were Genmab (CO:GEN), which rose 2.73% or 27.2 points to trade at 1025.0 at the close. Meanwhile, GN Store Nord (CO:GN) added 2.20% or 5.4 points to end at 250.6 and Ambu A/S (CO:AMBUb) was up 1.86% or 2.5 points to 136.8 in late trade.

    The worst performers of the session were ISS A/S (CO:ISS), which fell 5.79% or 11.40 points to trade at 185.55 at the close. AP Moeller - Maersk A/S B (CO:MAERSKb) declined 3.66% or 326 points to end at 8574 and Danske Bank A/S (CO:DANSKE) was down 3.41% or 4.8 points to 137.3.

    Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 94 to 29 and 9 ended unchanged.

    Shares in ISS A/S (CO:ISS) fell to 3-years lows; down 5.79% or 11.40 to 185.55.

    Crude oil for January delivery was down 1.84% or 0.97 to $51.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 1.30% or 0.80 to hit $60.87 a barrel, while the February Gold Futures contract fell 0.22% or 2.80 to trade at $1249.80 a troy ounce.

    USD/DKK was up 0.03% to 6.5617, while EUR/DKK fell 0.01% to 7.4641.

    The US Dollar Index Futures was up 0.55% at 97.002.

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  • Finland stocks lower at close of trade; OMX Helsinki 25 down 1.68%

    Investing.com – Finland stocks were lower after the close on Monday, as losses in the Utilities, Consumer Services and Basic Materials sectors led shares lower.

    At the close in Helsinki, the OMX Helsinki 25 declined 1.68% to hit a new 52-week low.

    The best performers of the session on the OMX Helsinki 25 were Nokia Oyj (HE:NOKIA), which rose 1.04% or 0.051 points to trade at 4.952 at the close. Meanwhile, Amer Sports Corporation (HE:AMEAS) added 0.29% or 0.11 points to end at 38.48 and Kesko Oyj (HE:KESKOB) was down 0.60% or 0.30 points to 49.57 in late trade.

    The worst performers of the session were Outotec Oyj (HE:OTE1V), which fell 6.95% or 0.217 points to trade at 2.905 at the close. Outokumpu Oyj (HE:OUT1V) declined 5.95% or 0.2130 points to end at 3.3660 and Metso Oyj (HE:METSO) was down 5.57% or 1.32 points to 22.39.

    Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 130 to 31 and 7 ended unchanged.

    Shares in Outotec Oyj (HE:OTE1V) fell to 52-week lows; down 6.95% or 0.217 to 2.905. Shares in Amer Sports Corporation (HE:AMEAS) rose to all time highs; rising 0.29% or 0.11 to 38.48. Shares in Outokumpu Oyj (HE:OUT1V) fell to 52-week lows; down 5.95% or 0.2130 to 3.3660. Shares in Metso Oyj (HE:METSO) fell to 52-week lows; down 5.57% or 1.32 to 22.39.

    Brent oil for February delivery was down 1.48% or 0.91 to $60.76 a barrel. Elsewhere in commodities trading, Crude oil for delivery in January fell 2.07% or 1.09 to hit $51.52 a barrel, while the February Gold Futures contract fell 0.22% or 2.70 to trade at $1249.90 a troy ounce.

    EUR/USD was down 0.04% to 1.1374, while EUR/GBP rose 1.17% to 0.9048.

    The US Dollar Index Futures was up 0.56% at 97.018.

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  • Germany stocks lower at close of trade; DAX down 1.54%

    Investing.com – Germany stocks were lower after the close on Monday, as losses in the Construction, Media and Chemicals sectors led shares lower.

    At the close in Frankfurt, the DAX declined 1.54% to hit a new 52-week low, while the MDAX index declined 2.06%, and the TecDAX index fell 1.41%.

    The best performers of the session on the DAX were Fresenius SE&Co KGAA O.N. (DE:FREG), which rose 2.28% or 0.890 points to trade at 39.880 at the close. Meanwhile, Vonovia SE (DE:VNAn) added 1.19% or 0.50 points to end at 42.58 and Linde PLC (DE:LINI) was up 0.07% or 0.100 points to 136.300 in late trade.

    The worst performers of the session were Deutsche Bank AG NA O.N. (DE:DBKGn), which fell 5.62% or 0.433 points to trade at 7.272 at the close. Bayer AG NA (DE:BAYGN) declined 4.15% or 2.63 points to end at 60.80 and Covestro AG (DE:1COV) was down 4.14% or 1.870 points to 43.350.

    The top performers on the MDAX were Morphosys AG O.N. (DE:MORG) which rose 0.46% to 98.7000, Sartorius AG VZO O.N. (DE:SATG_p) which was up 0.46% to settle at 109.700 and Innogy SE (DE:IGY) which gained 0.30% to close at 40.250.

    The worst performers were Deutsche Pfandbriefbank AG (DE:PBBG) which was down 9.37% to 9.19 in late trade, Norma Group AG NA O.N. (DE:NOEJ) which lost 5.57% to settle at 46.140 and Prosiebensat 1 Media AG (DE:PSMGn) which was down 5.23% to 15.9450 at the close.

    The top performers on the TecDAX were Carl Zeiss Meditec AG (DE:AFXG) which rose 1.72% to 67.850, ADO Properties SARL (DE:ADJ) which was up 1.02% to settle at 47.68 and TLG Immobilien AG (DE:TLGG) which gained 0.57% to close at 24.76.

    The worst performers were RIB Software AG Na (DE:RIB) which was down 27.05% to 9.440 in late trade, Aumann AG (DE:AAGG) which lost 15.01% to settle at 30.3000 and Steinhoff International Holdings NV (DE:SNHG) which was down 10.18% to 0.09 at the close.

    Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 604 to 115 and 60 ended unchanged.

    Shares in Deutsche Bank AG NA O.N. (DE:DBKGn) fell to 5-year lows; losing 5.62% or 0.433 to 7.272. Shares in Bayer AG NA (DE:BAYGN) fell to 5-year lows; losing 4.15% or 2.63 to 60.80. Shares in Covestro AG (DE:1COV) fell to 52-week lows; down 4.14% or 1.870 to 43.350. Shares in Deutsche Pfandbriefbank AG (DE:PBBG) fell to 52-week lows; falling 9.37% or 0.95 to 9.19. Shares in Prosiebensat 1 Media AG (DE:PSMGn) fell to 5-year lows; down 5.23% or 0.8800 to 15.9450. Shares in RIB Software AG Na (DE:RIB) fell to 52-week lows; down 27.05% or 3.500 to 9.440. Shares in Aumann AG (DE:AAGG) fell to all time lows; down 15.01% or 5.3500 to 30.3000. Shares in TLG Immobilien AG (DE:TLGG) rose to all time highs; gaining 0.57% or 0.14 to 24.76.

    The DAX volatility index, which measures the implied volatility of DAX options, was up 7.64% to 24.09.

    Gold Futures for February delivery was down 0.19% or 2.35 to $1250.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 2.01% or 1.06 to hit $51.55 a barrel, while the February Brent oil contract fell 1.38% or 0.85 to trade at $60.82 a barrel.

    EUR/USD was down 0.09% to 1.1369, while EUR/GBP rose 1.15% to 0.9046.

    The US Dollar Index Futures was up 0.59% at 97.042.

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