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uBanker Blog

  • Israel stocks higher at close of trade; TA 35 up 0.50%

    Investing.com – Israel stocks were higher after the close on Sunday, as gains in the Banking, Communication and Financials sectors led shares higher.

    At the close in Tel Aviv, the TA 35 rose 0.50% to hit a new 1-month high.

    The best performers of the session on the TA 35 were Nice Ltd (TA:NICE), which rose 3.52% or 1180 points to trade at 34660 at the close. Meanwhile, OPKO Health Inc (TA:OPK) added 2.31% or 25 points to end at 1106 and First International Bank of Israel Ltd (TA:FTIN) was up 1.61% or 120 points to 7564 in late trade.

    The worst performers of the session were Tower Semiconductor Ltd (TA:TSEM), which fell 6.26% or 631 points to trade at 9449 at the close. Frutarom Industries Ltd (TA:FRUT) declined 1.89% or 700 points to end at 36250 and Big Shopping Centers Ltd (TA:BIG) was down 0.87% or 200 points to 22910.

    Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 202 to 172 and 29 ended unchanged.

    Shares in Nice Ltd (TA:NICE) rose to all time highs; rising 3.52% or 1180 to 34660.

    Crude oil for June delivery was unchanged 0.00% or 0.00 to $68.40 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.20% or 0.15 to hit $73.63 a barrel, while the June Gold Futures contract fell 0.84% or 11.30 to trade at $1337.50 a troy ounce.

    USD/ILS was up 0.26% to 3.5300, while EUR/ILS fell 0.12% to 4.3372.

    The US Dollar Index Futures was up 0.49% at 90.08.

    Read more
  • United Arab Emirates stocks lower at close of trade; DFM General down 0.08%

    Investing.com – United Arab Emirates stocks were lower after the close on Sunday, as losses in the Telecoms, Insurance and Finance&Investment sectors led shares lower.

    At the close in Dubai, the DFM General lost 0.08%, while the ADX General index fell 0.51%.

    The best performers of the session on the DFM General were Amanat Holdings PJSC (DU:AMANT), which rose 2.94% or 0.040 points to trade at 1.400 at the close. Meanwhile, Deyaar Development PJSC (DU:DEYR) added 1.51% or 0.007 points to end at 0.470 and AJMAN BANK PJSC (DU:AJBNK) was up 1.00% or 0.010 points to 1.010 in late trade.

    The worst performers of the session were Gulf General Investments Company (DU:GGIC), which fell 6.69% or 0.018 points to trade at 0.251 at the close. Marka Pjse (DU:MARKA) declined 3.93% or 0.01 points to end at 0.32 and SHUAA Capital PSC (DU:SHUA) was down 2.48% or 0.025 points to 0.985.

    The top performers on the ADX General were Sharjah Cement AD (AD:SCID) which rose 10.19% to 1.190, Al Khazna Ins (AD:AKIC) which was up 4.35% to settle at 0.240 and International Holding Company PJSC (AD:IHC) which gained 3.62% to close at 1.43.

    The worst performers were Union Insurance Co PSC (AD:UNIN) which was down 9.35% to 1.26 in late trade, Green Crs Ins (AD:GCIC) which lost 6.98% to settle at 0.800 and Invest Bank AD (AD:INVB) which was down 4.27% to 2.240 at the close.

    Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 22 to 12 and 3 ended unchanged; on the Abu Dhabi, 15 fell and 8 advanced, while 8 ended unchanged.

    Shares in Gulf General Investments Company (DU:GGIC) fell to 5-year lows; down 6.69% or 0.018 to 0.251. Shares in Marka Pjse (DU:MARKA) fell to all time lows; down 3.93% or 0.01 to 0.32. Shares in SHUAA Capital PSC (DU:SHUA) fell to 52-week lows; losing 2.48% or 0.025 to 0.985.

    Crude oil for June delivery was unchanged 0.00% or 0.00 to $68.40 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.20% or 0.15 to hit $73.63 a barrel, while the June Gold Futures contract fell 0.84% or 11.30 to trade at $1337.50 a troy ounce.

    USD/AED was up 0.00% to 3.6730, while EUR/AED fell 0.43% to 4.5141.

    The US Dollar Index Futures was up 0.49% at 90.08.

    Read more
  • Weekly Outlook: April 23 - 27

    Investing.com - Investors will be awaiting an update on the health of the U.S. and UK economies this week ahead of Friday’s data on first quarter growth. Monetary policy meetings in the euro zone and Japan will also be in focus.

    The European Central Bank is widely expected to leave monetary policy unchanged after its meeting on Thursday, but investors will be on the lookout for signs that the bank is moving closer to exiting its stimulus program.

    The dollar rose to two week highs against a currency basket on Friday, boosted by expectations for a faster pace of rate hikes by the Federal Reserve this year while dovish comments by central bank officials weighed on sterling and the euro.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.49% at 90.08 late Friday, after rising as high as 90.25 earlier, the most since April 6. For the week, the index was up 0.65%.

    Cleveland Fed President Loretta Mester said Thursday that steady interest-rate rises are needed this year and next to keep the economy from overheating.

    Her comments boosted expectations that the Fed will raise rates at a faster pace than markets currently expect this year.

    Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors.

    Sterling fell to fresh two-week lows against the dollar on Friday after Bank of England Governor Mark Carney indicated that the central bank may not raise interest rates in May, in the wake of recent “mixed” economic data.

    GBP/USD was down 0.6% at 1.4001 late Friday, for a weekly decline of 1.71%.

    Earlier in the week the pound had surged to a post Brexit high of 1.4376 before weaker-than-expected wage growth and inflation data tempered rate hike bets.

    The euro plumbed two-week lows against the dollar on Friday after ECB President Mario Draghi reiterated that the bank would be cautious about removing monetary stimulus.

    EUR/USD was down 0.47% at 1.2288 in late trade, after falling as low as 1.2250 earlier, for a weekly loss of 0.36%.

    The dollar was higher against the yen, with USD/JPY rising 0.28% to 107.65, after hitting a two-month high of 107.86 earlier.

    The Australian and New Zealand dollars fell to two-week lows, pressured lower by declining Chinese stocks, which have been hit by lingering worries over the simmering trade tensions between the U.S. and China.

    AUD/USD was down 0.74% to 0.7671 late Friday, while NZD/USD lost 0.89% to trade at 0.7205.

    Investors will continue to monitor trade and geopolitical developments in the coming week.

    Ahead of the coming week, Investing.com has compiled a list of significant events likely to affect the markets.

    Monday, April 23

    The euro zone is to release data on manufacturing and service sector activity.

    The U.S. is to report on existing home sales.

    Bank of Canada Governor Stephen Poloz is to testify before the House of Commons finance committee in Ottawa.

    Tuesday, April 24

    Australia is to release data on inflation.

    The Ifo Institute is to report on German business climate.

    The U.S. is to release data on consumer confidence.

    Wednesday, April 25

    Financial markets in Australia will remain closed for a holiday.

    BoC Governor Stephen Poloz is to testify before the Senate banking committee in Ottawa.

    Thursday, April 26

    The ECB is to announce its latest monetary policy decision. The announcement is to be followed by a press conference with President Mario Draghi.

    The U.S. is to release reports on durable goods orders and initial jobless claims.

    Friday, April 27

    South Korean President Moon Jae-in and North Korean leader Kim Jong Un are expected to hold a summit meeting to discuss de-nuclearization and a peace treaty.

    The Bank of Japan is to announce its benchmark interest rate and publish a rate statement which outlines economic conditions and the factors affecting the monetary policy decision. The announcement is to be followed by a press conference.

    Swiss National Bank Chairman Thomas Jordan is to speak at an event in Bern.

    The UK is to release preliminary data on first quarter economic growth as well as revised data on consumer sentiment.

    The U.S. is to publish advance data on first quarter growth.

    Bank of England Governor Mark Carney is to speak at an event in London.

    Read more
  • Peru stocks higher at close of trade; S&P Lima General up 0.19%

    Investing.com – Peru stocks were higher after the close on Friday, as gains in the S&P Lima Juniors, Industrials and Non-Metal Minerals sectors led shares higher.

    At the close in Lima, the S&P Lima General rose 0.19% to hit a new 5-year high.

    The best performers of the session on the S&P Lima General were Andino Investment Holding SAA (LM:AIH), which rose 3.86% or 0.110 points to trade at 2.960 at the close. Meanwhile, Panoro (LM:PML) added 3.33% or 0.009 points to end at 0.279 and PPX Mining Corp (LM:PPX) was unchanged 1.41% or 0.00 points to 0.07 in late trade.

    The worst performers of the session were Relapasa (LM:REL), which fell 2.52% or 0.008 points to trade at 0.310 at the close. Cerro Verde (LM:CVE) declined 1.36% or 0.400 points to end at 29.000 and Buenaventura (LM:BVN) was down 1.26% or 0.210 points to 16.500.

    Rising stocks outnumbered declining ones on the Lima Stock Exchange by 18 to 12 and 14 ended unchanged.

    Shares in PPX Mining Corp (LM:PPX) unchanged to 52-week highs; unchanged 1.41% or 0.00 to 0.07.

    Crude oil for May delivery was down 0.01% or 0.01 to $68.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.20% or 0.15 to hit $73.63 a barrel, while the June Gold Futures contract fell 0.84% or 11.30 to trade at $1337.50 a troy ounce.

    USD/PEN was down 0.04% to 3.2185, while EUR/PEN fell 0.26% to 3.9643.

    The US Dollar Index Futures was up 0.49% at 90.08.

    Read more
  • Mexico stocks lower at close of trade; S&P/BMV IPC down 0.64%

    Investing.com – Mexico stocks were lower after the close on Friday, as losses in the Materials, Financial Services and Telecoms Services sectors led shares lower.

    At the close in Mexico, the S&P/BMV IPC declined 0.64%.

    The best performers of the session on the S&P/BMV IPC were Grupo LALA SA de CV (MX:LALAB), which rose 1.39% or 0.34 points to trade at 24.80 at the close. Meanwhile, Gentera SAB de CV (MX:GENTERA) added 1.13% or 0.170 points to end at 15.240 and Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA) was up 0.96% or 4.97 points to 520.70 in late trade.

    The worst performers of the session were VOLARIS A (MX:VOLARA), which fell 18.87% or 3.05 points to trade at 13.11 at the close. El Puerto De Liverpool Sab De CV (MX:LIVEPOLC1) declined 2.65% or 3.56 points to end at 130.84 and Infraestructura Energetica Nova SAB (MX:IENOVA) was down 2.36% or 2.04 points to 84.37.

    Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 161 to 120 and 9 ended unchanged.

    Shares in VOLARIS A (MX:VOLARA) fell to 3-years lows; falling 18.87% or 3.05 to 13.11. Shares in Infraestructura Energetica Nova SAB (MX:IENOVA) fell to 52-week lows; losing 2.36% or 2.04 to 84.37.

    Gold Futures for June delivery was down 0.79% or 10.70 to $1338.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.01% or 0.01 to hit $68.28 a barrel, while the June Brent oil contract fell 0.07% or 0.05 to trade at $73.73 a barrel.

    USD/MXN was up 0.48% to 18.5404, while EUR/MXN rose 0.03% to 22.7832.

    The US Dollar Index Futures was up 0.46% at 90.05.

    Read more
  • Canada stocks higher at close of trade; S&P/TSX Composite up 0.44%

    Investing.com – Canada stocks were higher after the close on Friday, as gains in the Telecoms, Consumer Discretionary and IT sectors led shares higher.

    At the close in Toronto, the S&P/TSX Composite added 0.44%.

    The best performers of the session on the S&P/TSX Composite were NexGen Energy Ltd. (TO:NXE), which rose 6.20% or 0.160 points to trade at 2.740 at the close. Meanwhile, Rogers Communications Inc (TO:RCIb) added 5.85% or 3.39 points to end at 61.34 and Turquoise Hill Resources Ltd. (TO:TRQ) was up 4.66% or 0.180 points to 4.040 in late trade.

    The worst performers of the session were Cascades Inc . (TO:CAS), which fell 5.00% or 0.67 points to trade at 12.72 at the close. Trican Well Service Ltd . (TO:TCW) declined 4.20% or 0.140 points to end at 3.190 and Aphria Inc (TO:APH) was down 3.64% or 0.400 points to 10.600.

    Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 612 to 483 and 124 ended unchanged.

    The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 0.33% to 15.39.

    Gold Futures for June delivery was down 0.77% or 10.40 to $1338.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.01% or 0.01 to hit $68.28 a barrel, while the June Brent oil contract rose 0.04% or 0.03 to trade at $73.81 a barrel.

    CAD/USD was down 0.65% to 0.7841, while CAD/EUR fell 0.17% to 0.6381.

    The US Dollar Index Futures was up 0.47% at 90.06.

    Read more
  • Crude Oil Prices Shrug Off Trump's OPEC Blast to Settle Higher

    Investing.com - Crude oil prices settled at nearly three-and-a-half year highs as the Joint Ministerial Monitoring Committee confirmed OPEC and its allies compliance with the deal to curb production rose to its highest ever, further stoking expectations for market rebalancing later this year.

    On the New York Mercantile Exchange crude futures for May delivery rose 9 cents to settle at $68.38 a barrel, while on London's Intercontinental Exchange, Brent rose 0.22% to trade at $73.94 a barrel.

    Crude oil prices settled higher, shrugging off earlier weakness which followed a tweet from U.S. President Donald Trump, in which he suggested that OPEC was keeping oil prices artificially high, insisting that it would not be accepted.

    A jump in the number of oil rigs operating in the U.S. to the highest level in three years, pointing to an expansion in U.S. output, meanwhile, had a subdued impact on oil prices in the wake of continued optimism on oil prices.

    The combination of strong momentum in developed markets and accelerating emerging market growth will combine to keep oil demand growth above consensus expectations, Goldman Sachs (NYSE:GS) said.

    Goldman Sachs forecasts 2018 year-on-year oil demand growth at 1.85 million barrels per day, and Brent rising to $80 a barrel between the second and fourth quarter of the year.

    Sentiment on oil prices were also boosted by confirmation of deeper OPEC-led production cuts after the Joint Ministerial Monitoring Committee confirmed that compliance is at its highest ever.

    In November 2016, OPEC and other producers, including Russia agreed to cut output by 1.8 million barrels per day (bpd) to slash global inventories to the five year-average. The OPEC-led deal was renewed last year through 2018.

    OPEC will meet in June to decide whether to extend the production-cut agreement despite expectations the glut in global supplies have shrunk to levels just above the oil cartel's target.

    The production-cut agreement deal led to a sharp fall in excess crude supplies, which stood at just 12 million barrels above the five-year average in March, Reuters reported Thursday, citing a source familiar with the matter.

    Read more
  • Gold Prices to Post First Weekly Slump in Three Weeks as Dollar Edges Up

    Investing.com – Gold prices remained on course to snap a two-week winning streak as safe-haven demand faded amid easing geopolitical concerns, while continued dollar strength added to downside momentum.

    Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $9.90, or 0.73%, to $1,338.90 a troy ounce.

    Gold prices remained close to their session lows of $1,337.10 as the dollar continued to gather momentum boosted by slump in the Canadian dollar and sterling, while the ongoing rise in 10Y yields above 2.9% also supported sentiment.

    Gold is sensitive to moves higher in both bond yields and the U.S. dollar – A stronger dollar makes gold more expensive for holders of foreign currency, while a rise in U.S. rates, lift the opportunity cost of holding non-yielding assets such as bullion.

    Falling safe-haven demand, which had supported a strong uptick in the gold prices last week continued to ebb as a meeting between U.S. President Donald Trump and Japan Prime Minister concluded without a hitch.

    Improving U.S.-North Korea relations also weighed on safe-haven demand after the

    U.S. President Donald Trump said earlier this week that he hoped a summit with North Korean leader Kim Jong Un would be successful.

    In other precious metal trade, silver futures fell 0.46% to $17.16 a troy ounce, while platinum futures fell 0.94% to $931.30 an ounce.

    Copper rose 0.13% to $3.14.

    Read more
  • Nigeria stocks higher at close of trade; NSE 30 up 0.04%

    Investing.com – Nigeria stocks were higher after the close on Friday, as gains in the Oil&Gas, Banking and Insurance sectors led shares higher.

    At the close in Lagos, the NSE 30 added 0.04%.

    The best performers of the session on the NSE 30 were Nestle Nig (LAGOS:NESTLE), which rose 5.00% or 71.10 points to trade at 1493.60 at the close. Meanwhile, Fbn Holdings (LAGOS:FBNH) added 4.90% or 0.600 points to end at 12.850 and Wemabank (LAGOS:WEMABAN) was up 4.44% or 0.040 points to 0.940 in late trade.

    The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 4.89% or 1.10 points to trade at 21.40 at the close. Skye Bank (LAGOS:SKYEBAN) declined 3.03% or 0.030 points to end at 0.950 and Unilever Nig (LAGOS:UNILEVE) was down 3.64% or 2.00 points to 55.00.

    Falling stocks outnumbered advancing ones on the Lagos by 59 to 37 and 9 ended unchanged.

    Crude oil for May delivery was down 0.23% or 0.16 to $68.13 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.12% or 0.09 to hit $73.69 a barrel, while the June Gold Futures contract fell 0.75% or 10.10 to trade at $1338.70 a troy ounce.

    EUR/NGN was down 0.52% to 442.890, while USD/NGN rose 0.14% to 360.000.

    The US Dollar Index Futures was up 0.42% at 90.02.

    Read more
  • Portugal stocks higher at close of trade; PSI 20 up 0.11%

    Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Industrials, Telecoms and Financials sectors led shares higher.

    At the close in Lisbon, the PSI 20 added 0.11% to hit a new 1-month high.

    The best performers of the session on the PSI 20 were Pharol SGPS SA (LS:PHRA), which rose 6.22% or 0.0125 points to trade at 0.2135 at the close. Meanwhile, F.Rama (LS:RAMA) added 3.23% or 0.400 points to end at 12.800 and Altri SGPS (LS:ALSS) was up 1.90% or 0.1100 points to 5.9000 in late trade.

    The worst performers of the session were Galp Energia Nom (LS:GALP), which fell 0.99% or 0.1600 points to trade at 15.9500 at the close. Semapa (LS:SEM) declined 0.97% or 0.1800 points to end at 18.4400 and Corticeira Amorim (LS:CORA) was down 0.70% or 0.080 points to 11.300.

    Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 24 to 12 and 2 ended unchanged.

    Shares in Altri SGPS (LS:ALSS) rose to all time highs; gaining 1.90% or 0.1100 to 5.9000.

    Brent oil for June delivery was down 0.16% or 0.12 to $73.66 a barrel. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.18% or 0.12 to hit $68.17 a barrel, while the June Gold Futures contract fell 0.69% or 9.30 to trade at $1339.50 a troy ounce.

    EUR/USD was down 0.44% to 1.2292, while EUR/GBP fell 0.07% to 0.8758.

    The US Dollar Index Futures was up 0.42% at 90.02.

    Read more
  • Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.33%

    Investing.com – Denmark stocks were lower after the close on Friday, as losses in the Oil&Gas, Healthcare and Personal&Household Goods sectors led shares lower.

    At the close in Copenhagen, the OMX Copenhagen 20 fell 0.33%.

    The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S B (CO:MAERSKb), which rose 3.36% or 310 points to trade at 9544 at the close. Meanwhile, AP Moeller - Maersk A/S A (CO:MAERSKa) added 2.93% or 255 points to end at 8955 and Nordea Bank AB (CO:NDA) was up 0.28% or 0.18 points to 63.62 in late trade.

    The worst performers of the session were FLSmidth&Co. (CO:FLS), which fell 1.30% or 5.0 points to trade at 379.6 at the close. Lundbeck A/S (CO:LUN) declined 1.26% or 4.4 points to end at 343.5 and Vestas Wind Systems A/S (CO:VWS) was down 1.25% or 5.2 points to 411.0.

    Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 61 to 59 and 18 ended unchanged.

    Crude oil for May delivery was down 0.09% or 0.06 to $68.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.15% or 0.11 to hit $73.67 a barrel, while the June Gold Futures contract fell 0.73% or 9.90 to trade at $1338.90 a troy ounce.

    USD/DKK was up 0.51% to 6.0637, while EUR/DKK fell 0.00% to 7.4481.

    The US Dollar Index Futures was up 0.47% at 90.06.

    Read more
  • Russia stocks higher at close of trade; MOEX Russia up 0.09%

    Investing.com – Russia stocks were higher after the close on Friday, as gains in the Mining, Oil&Gas and Power sectors led shares higher.

    At the close in Moscow, the MOEX Russia gained 0.09%.

    The best performers of the session on the MOEX Russia were SG mechel (MCX:MTLR), which rose 5.90% or 6.85 points to trade at 122.95 at the close. Meanwhile, Trubnaya Metallurgicheskaya Kompaniya OAO (MCX:TRMK) added 2.59% or 1.95 points to end at 77.30 and Rosseti ao (MCX:RSTI) was up 2.39% or 0.0187 points to 0.8000 in late trade.

    The worst performers of the session were NK RussNeft PAO (MCX:RNFT), which fell 3.23% or 17.0 points to trade at 510.0 at the close. NMTP (MCX:NMTP) declined 2.60% or 0.1900 points to end at 7.1150 and Magnit (MCX:MGNT) was down 1.95% or 96.0 points to 4825.0.

    Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 123 to 89 and 11 ended unchanged.

    The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 0.28% to 31.760.

    Gold Futures for June delivery was down 0.74% or 10.00 to $1338.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.03% or 0.02 to hit $68.31 a barrel, while the June Brent oil contract fell 0.07% or 0.05 to trade at $73.73 a barrel.

    USD/RUB was up 0.67% to 61.2808, while EUR/RUB rose 0.19% to 75.2665.

    The US Dollar Index Futures was up 0.48% at 90.07.

    Read more
  • Spain stocks higher at close of trade; IBEX 35 up 0.16%

    Investing.com – Spain stocks were higher after the close on Friday, as gains in the Chemical, Petroleum&Plastic, Building&Construction and Financial Services&Real Estate sectors led shares higher.

    At the close in Madrid, the IBEX 35 added 0.16% to hit a new 1-month high.

    The best performers of the session on the IBEX 35 were Distribuidora Intl de Aliment (MC:DIDA), which rose 2.16% or 0.080 points to trade at 3.780 at the close. Meanwhile, Gas Natural (MC:GAS) added 1.72% or 0.350 points to end at 20.670 and Endesa (MC:ELE) was up 1.10% or 0.205 points to 18.810 in late trade.

    The worst performers of the session were Mediaset ESP (MC:TL5), which fell 0.95% or 0.080 points to trade at 8.376 at the close. Bankinter (MC:BKT) declined 0.92% or 0.080 points to end at 8.610 and Amadeus IT (MC:AMA) was down 0.90% or 0.560 points to 61.460.

    Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 98 to 83 and 20 ended unchanged.

    Gold Futures for June delivery was down 0.73% or 9.90 to $1338.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.03% or 0.02 to hit $68.31 a barrel, while the June Brent oil contract fell 0.07% or 0.05 to trade at $73.73 a barrel.

    EUR/USD was down 0.51% to 1.2283, while EUR/GBP fell 0.13% to 0.8753.

    The US Dollar Index Futures was up 0.47% at 90.06.

    Read more
  • Netherlands stocks lower at close of trade; AEX down 0.17%

    Investing.com – Netherlands stocks were lower after the close on Friday, as losses in the Technology, Industrials and Consumer Goods sectors led shares lower.

    At the close in Amsterdam, the AEX fell 0.17%.

    The best performers of the session on the AEX were Altice NV (AS:ATCA), which rose 1.69% or 0.14 points to trade at 8.29 at the close. Meanwhile, Galapagos NV (AS:GLPG) added 1.31% or 1.020 points to end at 78.920 and Relx NV (AS:RELN) was up 0.92% or 0.160 points to 17.625 in late trade.

    The worst performers of the session were ASML Holding NV (AS:ASML), which fell 1.68% or 2.70 points to trade at 158.05 at the close. Randstad Holding NV (AS:RAND) declined 1.28% or 0.72 points to end at 55.50 and NN Group NV (AS:NN) was down 0.49% or 0.19 points to 38.33.

    Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 60 to 58 and 13 ended unchanged.

    The AEX Volatility, which measures the implied volatility of AEX options, was down 1.99% to 11.46.

    Crude oil for May delivery was up 0.06% or 0.04 to $68.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.04% or 0.03 to hit $73.75 a barrel, while the June Gold Futures contract fell 0.73% or 9.80 to trade at $1339.00 a troy ounce.

    EUR/USD was down 0.51% to 1.2283, while EUR/GBP fell 0.13% to 0.8753.

    The US Dollar Index Futures was up 0.47% at 90.06.

    Read more
  • U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.53%

    Investing.com – U.K. stocks were higher after the close on Friday, as gains in the Construction&Materials, Mobile Telecommunications and Tobacco sectors led shares higher.

    At the close in London, the Investing.com United Kingdom 100 gained 0.53% to hit a new 1-month high.

    The best performers of the session on the Investing.com United Kingdom 100 were Capita PLC (LON:CPI), which rose 5.72% or 8.65 points to trade at 159.80 at the close. Meanwhile, Intu Properties PLC (LON:INTUP) added 4.09% or 7.95 points to end at 202.30 and CRH PLC (LON:CRH) was up 4.08% or 99.00 points to 2525.00 in late trade.

    The worst performers of the session were Shire PLC (LON:SHP), which fell 3.86% or 153.50 points to trade at 3821.50 at the close. Reckitt Benckiser Group PLC (LON:RB) declined 2.78% or 161.00 points to end at 5625.00 and GKN PLC (LON:GKN) was down 2.03% or 9.70 points to 467.90.

    Rising stocks outnumbered declining ones on the London Stock Exchange by 1085 to 859 and 169 ended unchanged.

    Gold Futures for June delivery was down 0.61% or 8.20 to $1340.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May rose 0.19% or 0.13 to hit $68.42 a barrel, while the June Brent oil contract rose 0.04% or 0.03 to trade at $73.81 a barrel.

    GBP/USD was down 0.38% to 1.4034, while EUR/GBP fell 0.11% to 0.8754.

    The US Dollar Index Futures was up 0.44% at 90.03.

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  • Norway stocks lower at close of trade; Oslo OBX down 0.63%

    Investing.com – Norway stocks were lower after the close on Friday, as losses in the Materials, Healthcare Equipment&Services and Energy sectors led shares lower.

    At the close in Oslo, the Oslo OBX declined 0.63%.

    The best performers of the session on the Oslo OBX were Storebrand ASA (OL:STB), which rose 0.97% or 0.62 points to trade at 64.26 at the close. Meanwhile, Leroy Seafood Group ASA (OL:LSG) added 0.88% or 0.5 points to end at 57.2 and Telenor ASA (OL:TEL) was up 0.84% or 1.5 points to 174.8 in late trade.

    The worst performers of the session were Petroleum Geo - Services ASA (OL:PGS), which fell 2.89% or 0.90 points to trade at 30.26 at the close. TGS-NOPEC Geophysical Company ASA (OL:TGS) declined 2.85% or 7.1 points to end at 241.6 and Yara International ASA (OL:YAR) was down 2.67% or 9.0 points to 340.0.

    Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 99 to 86 and 23 ended unchanged.

    Crude oil for May delivery was down 0.01% or 0.01 to $68.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.07% or 0.05 to hit $73.73 a barrel, while the June Gold Futures contract fell 0.62% or 8.40 to trade at $1340.40 a troy ounce.

    EUR/NOK was down 0.07% to 9.6132, while USD/NOK rose 0.43% to 7.8251.

    The US Dollar Index Futures was up 0.44% at 90.03.

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  • Greece stocks lower at close of trade; Athens General Composite down 0.47%

    Investing.com – Greece stocks were lower after the close on Friday, as losses in the Basic Resources, Technology and Utilities sectors led shares lower.

    At the close in Athens, the Athens General Composite fell 0.47%.

    The best performers of the session on the Athens General Composite were Flexopack SA (AT:FLXr), which rose 6.35% or 0.4000 points to trade at 6.7000 at the close. Meanwhile, Ellaktor SA (AT:HELr) added 3.24% or 0.052 points to end at 1.656 and Quest Holdings (AT:IQTr) was up 2.54% or 0.300 points to 12.100 in late trade.

    The worst performers of the session were MLS Multimedia (AT:MLSr), which fell 3.86% or 0.170 points to trade at 4.230 at the close. Sarantiseg (AT:SRSr) declined 3.40% or 0.50 points to end at 14.20 and Crete Plastics SA (AT:PLAKR) was down 2.94% or 0.400 points to 13.200.

    Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 59 to 57 and 15 ended unchanged.

    Gold Futures for June delivery was down 0.61% or 8.20 to $1340.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.63% or 0.43 to hit $67.86 a barrel, while the June Brent oil contract fell 0.66% or 0.49 to trade at $73.29 a barrel.

    EUR/USD was down 0.58% to 1.2275, while EUR/GBP fell 0.16% to 0.8750.

    The US Dollar Index Futures was up 0.49% at 90.08.

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  • Forex- U.S. Dollar Set to End Week on Strong Note

    Investing.com - The dollar surged on Friday, driven higher by a rising yield on U.S. Treasury notes.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at a two-week high, rising 0.59% to 90.17 by 10:32 AM ET (14:32 GMT)

    U.S. bond yields crept back up on Friday, with the United States 2-Year note climbing to its highest level since September 2008, at 2.449. The yield on the United States 10-Year Treasury note rose to 2.940.

    Prices fall as bond yields rise. A spike in U.S. Treasury bond yields in February led to a steep decline in equity markets, as investors flocked to the dollar in anticipation that inflation could lead to an increase in interest rate hikes by the Federal Reserve.

    The dollar gained ground against the yen, with USD/JPY rising 0.40% to 107.79.

    The pound was lower amid dovish comments from Bank of England Governor Mark Carney, as investors grow uncertain of a rate hike in May. GBP/USD fell 0.50% to 1.4017.

    The euro was down, with EUR/USD falling 0.65% to 1.2266 as investors worry that the euro zone’s economy is rebounding and the European Central Bank could wait to tighten monetary policy.

    The loonie was lower after disappointing inflation and retail data. USD/CAD rose 0.46% to 1.2729 after inflation rose by 2.3% in March. A separate report showed that retail sales rose by just 0.4% in February.

    Elsewhere, the Australian dollar was lower, with AUD/USD down 0.92% to 0.7657 while NZD/USD decreased 0.87% to 0.7207.

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  • Oil Falls After Trump Says Prices Are Too High

    Investing.com - Oil prices slumped on Friday after U.S. President Donald Trump criticized Organization of the Petroleum Exporting Countries’ and Russia for contributing to the rise in oil prices.

    Crude oil futures fell 0.79% to $67.75 a barrel by 10:12 AM ET (14:12 GMT).

    Brent crude futures, the benchmark for oil prices outside the U.S., was down 0.89 to $73.12 a barrel.

    The price of oil was near a three and a half years earlier in the day, bolstered by a decline in U.S. supply and continued support of production cuts by OPEC and Russia. Both Brent and WTI hit their highest levels since November, 2014 on Thursday, at $74.75 and $69.56 per barrel respectively.

    Trump said OPEC production cuts had increased oil prices and it would not be tolerated.

    OPEC has been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018. While the groups efforts to end a global supply glut have been successful, Saudi Arabia is pushing for the cuts to extend into 2019.

    Meanwhile, Saudi Arabia officials would like the price of oil to continue rising to $80 or even $100, Reuters reported on Wednesday. Members of OPEC are expected to meet in Vienna in June to decide their next steps.

    In other energy trading, gasoline futures decreased 0.36% at $2.0660 a gallon, while heating oil fell 0.82% to $2.0921a gallon. Natural gas futures rose 1.80% to $2.708 per million British thermal units.

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  • Canadian Retail Sales Rise by 0.4% in February

    Investing.com - Canadian retail sales increased to 0.4% in February, Statistics Canada said on Friday.

    This was compared to 0.1% in the previous month.

    Economists had forecast a reading of 0.3%.

    Core retail sales, which excludes automobiles, were flat, compared to forecasts for an increased of 0.3%.

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  • Who Is Elon Musk, CEO of Tesla and SpaceX?

    Investing.com - With the latest stumble of his electric car company Tesla (NASDAQ:TSLA), Elon Musk is facing another challenge, which is par for the course in his storied career as an entrepreneur.
    Musk was born in Pretoria, South Africa in 1971, and managed to teach himself computer programming before he was in high school. He moved to Canada to attend Queens University, but then transferred to the University of Pennsylvania, where he earned degrees in economics and physics.
    After a brief attempt at earning a Ph.D. in physics at Stanford University in 1995, Musk began his entrepreneurial career. In quick succession, he started Zip2, a web software company, and Xcon, an online payment company, making a fortune when they were sold.
    In 2002, Musk founded SpaceX, an aerospace manufacturing and space transport company. Known for its series of Falcon rockets, SpaceX is now the world's largest private producer of rocket engines.
    In 2003, Musk joined Tesla, working with its two founders. He soon led a critical round of financing and took a seat on the board of directors. He became CEO and chief architect in 2008, the year the company introduced its first car, the Tesla Roadster. Tesla is now producing its third vehicle, the Model X.
    Musk is also the founder and CEO of Neuralink, a futuristic firm whose goal is to create devices that can be implanted in the human brain in an effort to keep up with artificial intelligence.
    Off the job, Musk is dedicated to fighting global warming. He heads a foundation that supplies solar power energy systems to communities hit by natural disasters.
    He's been married and divorced thrice and is the father of five children. He's worth almost $21 billion, according to Forbes magazine.

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  • Top 5 Things to Know in the Market on Friday

    Investing.com - Here are the top five things you need to know in financial markets on Friday, April 20:

    1. Oil flat as Russia contemplates easing quota levels in H2

    Oil prices were slightly higher on Friday, remaining near their highest level in over three and a half years after officials from the Organization of the Petroleum Exporting Countries and Russia met in Saudi Arabia.

    The joint OPEC and non-OPEC panel found that compliance with the agreement to curb production hit another “record high” of 149%, while the global supply glut has been “virtually eliminated”.

    Oil inventories in developed nations in March stood at 12 million barrels above the five-year average, a source told Reuters. That’s down from 340 million barrels above the average in January 2017.

    Russian Energy Minister Alexander Novak commented that a discussion of easing the quota levels could begin in the second half of this year or 2019, although he insisted that it remained to be seen if the market rebalancing was sustainable.

    In the press conference following the meeting, Saudi energy minister Khalid Al-Falih said that while compliance is the highest level ever, producers still have have a long way to go and that a new inventory target would likely be chosen in May with the help of the OPEC technical committee

    Still ahead, the weekly installment of drilling activity from Baker Hughes will provide investors with fresh insight into U.S. oil production and demand after data last week showed the number of active U.S. oil rigs rose for the second straight week.

    U.S. crude oil futures rose 0.23% to $68.45 at 6:01AM ET (10:01GMT), while Brent oil gained 0.27% to $73.98.

    2. Earnings: All Eyes on General Electric

    Focus on earnings will continue to drive sentiment in stock markets as a slew of names report corporate earnings Friday.

    Of the 74 S&P firms that have reported earnings through Thursday, 80% have beat on both the top and bottom line.

    Some of the more notable names due to report earnings before U.S. markets open on Friday include General Electric (NYSE:GE), Honeywell (NYSE:HON) and Schlumberger (NYSE:SLB).

    GE’s earnings report is expected to be the pick of the bunch on Friday. The firm’s guidance will be closely watched after Goldman analyst Joe Ritchie said in a note to clients that a cut to the outlook is “almost a certainty”.

    While waiting for the reports, U.S. futures pointed to a lower open on Wall Street. At 6:04AM ET (10:04GMT), the blue-chip Dow futures fell 34 points, or 0.14%, S&P 500 futures slipped 2 points, or 0.07%, while the Nasdaq 100 futures lost 17 points, or 0.25%.

    3. Markets wait for Fed speakers with eyes on Treasuries

    With no major economic data on Friday’s agenda, market participants will continue to look for clues on monetary policy from Federal Reserve members.

    Cleveland Fed president Loretta Mester reiterated her view that the central bank should forge ahead with plans to gradually reduce policy accommodation.

    “If the economy evolves as I anticipate, I believe further gradual increases in interest rates will be appropriate this year and next year,” she remarked on Thursday evening.

    Markets have largely priced in that the Fed will hike rates twice more this year. Fed fund futures put the odds of the next rate hike coming in June at around 97%, according to Investing.com’s Fed Rate Monitor Tool. The probability of another increase in December was seen at about 88%.

    Chicago Fed president Charles Evans was scheduled to speak on the economic outlook and monetary policy at 9:40AM ET (13:40GMT) Friday, while San Francisco Fed chief John Williams will make an appearance at 11:15AM ET (15:15GMT).

    While waiting for the remarks, bond yields saw some volatile trade on Friday. After passing 2.9% a day earlier, the yield on the 10-Year Treasury note continued to tick higher on Friday. The yield on the 2-Year note turned lower after hitting 2.441% overnight, its highest level since September 2018.

    4. Cable drops as BoE governor dampens rate hike expectations

    The pound moved lower against the dollar on Friday after Bank of England governor Mark Carney hinted that market expectations for a rate hike in May could be overblown.

    Late Thursday, Carney told BBC that while markets could expect gradual rate hikes in the coming years, he didn’t want “to get too focused on the precise timing”.

    The BoE chief pointed to weak business surveys and retail sales as some of the softer data.

    “I am sure there will be some differences of view but it is a view we will take in early May, conscious that there are other meetings over the course of this year,” he said in the interview.

    Cable was last off 0.09% at 1.4073, after having hit an intraday low of 1.4036.

    5. Japanese inflation holds steady, reinforcing forecast for BoJ to stand pat

    Japan’s core price index held steady at an annualized gain of 1.1% in March, while underlying inflation stuck at 0.9%. Both readings were in line with consensus.

    The data reinforced a Reuters’ poll released Friday that showed the Bank of Japan is expected to keep monetary policy unchanged at its meeting next week, with inflation still far from the bank's 2% target.

    Sources familiar with the central bank's thinking told Reuters that the BoJ is likely to maintain the view that inflation will reach its 2% target next fiscal year, and will stay near that level the following year, when it issues new forecasts next week.

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  • Forex- U.S. Dollar Rises as Bond Yields Jump

    Investing.com - The dollar was higher on Friday as the yield on U.S. Treasury notes rose to February levels and interest rate expectations offset trade war worries.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.27% to 89.88 by 5:13 AM ET (9:13 GMT).

    U.S. bond yields crept back up on Friday, with the United States 2-Year note climbing to its highest level since September 2008, at 2.437. The yield on the United States 10-Year Treasury note rose to 2.916.

    Prices fall as bond yields rise. A spike in U.S. Treasury bond yields in February led to a steep decline in equity markets, as investors flocked to the dollar in anticipation that inflation could lead to an increase in interest rate hikes by the Federal Reserve.

    The dollar has been weighed down in recent months by U.S. President Donald Trump’s trade policies. China’s ambassador to the U.S. announced on Friday that if the White House continues to initiate a trade war, China would retaliate.

    The dollar gained ground against the yen, with USD/JPY rising 0.23% to 107.60. In times of uncertainty, investors tend to invest in the Japanese yen, which is considered a safe asset during periods of risk aversion.

    The pound was lower amid dovish comments from Bank of England Governor Mark Carney, as investors grow uncertain of a rate hike in May. GBP/USD fell 0.25% to 1.4052.

    The euro was down, with EUR/USD falling 0.30% to 1.2308 as investors worry that the euro zone’s economy is rebounding and the European Central Bank could wait to tighten monetary policy.

    Elsewhere, the Australian dollar was lower, with AUD/USD down 0.44% to 0.7694 while NZD/USD decreased 0.69% to 0.7221.

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  • Big Name Investors Get Behind New Cryptocurrency Basis

    Investing.com - A little-known cryptocurrency has attracted some big-name investors.
    In a private placement led by Bain Capital Ventures, Basis raised $122 million from a large group of investors,
    including hedge fund billionaire Stanley Druckenmiler, former Federal Reserve Governor Kevin Warsh, Alphabet (NASDAQ:GOOGL)'s
    investment unit and venture capital firm Andreessen Horowitz.
    The company said the goal is to create a cryptocurrency controlled by an algorithmic central bank, which will eliminate
    the price volatility seen in bitcoin and other digital currencies.
    Unlike other coins, which have a fixed supply, the supply of Basis will expand and contract based on changes in demand.
    The plan is to tie the availability of Basis, formerly known as Basecoin, to a measure such as the U.S. dollar or the consumer price index.

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  • Oil Remains Near 3 Year-High As OPEC Meeting Starts

    Investing.com - Oil prices were mostly flat on Friday but still remained near its highest level in over three and a half years as officials the Organization of the Petroleum Exporting Countries’ and Russia meet in Saudi Arabia.

    Crude oil futures rose 0.03% to $68.31 a barrel by 4:38 AM ET (8:38 GMT), its highest level since November 2014 and a session high.

    Brent crude futures, the benchmark for oil prices outside the U.S., was flat at $73.78 a barrel. Both Brent and WTI hit their highest levels since November, 2014 on Thursday, at $74.75 and $69.56 per barrel respectively.

    Prices were bolstered by a decline in U.S. supply and continued support of production cuts by OPEC and Russia’s deal to cut production.

    OPEC has been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018.The group meets on Friday and, while its efforts to end a global supply glut have been successful, Saudi Arabia is pushing for the cuts to extend into 2019.

    Investors were slightly cautious after Russia’s energy minister Alexander Novak said OPEC and Russia could ease output restrictions. The group is meeting in Saudi Arabia on Friday and while no official announcements are expected, traders will be listening in for any comments on continued cooperation between the countries.

    Meanwhile, Saudi Arabia officials would like the price of oil to continue rising to $80 or even $100, Reuters reported, which increased prices to their three-year highs on Thursday.

    In other energy trading, Gasoline RBOB Futures increased 0.21% at $2.0779 a gallon, while heating oil fell 0.06% to $2.1082 a gallon. Natural gas futures rose 0.30% to $2.668 per million British thermal units.

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  • Japan stocks lower at close of trade; Nikkei 225 down 0.13%

    Investing.com – Japan stocks were lower after the close on Friday, as losses in the Construction, Services and Rubber sectors led shares lower.

    At the close in Tokyo, the Nikkei 225 declined 0.13%.

    The best performers of the session on the Nikkei 225 were Mitsui O.S.K. Lines, Ltd. (T:9104), which rose 4.22% or 135.0 points to trade at 3332.5 at the close. Meanwhile, Shiseido Co., Ltd. (T:4911) added 3.48% or 233.0 points to end at 6925.0 and Pacific Metals Co., Ltd. (T:5541) was up 3.07% or 115.0 points to 3855.0 in late trade.

    The worst performers of the session were Shin-Etsu Chemical Co., Ltd. (T:4063), which fell 4.86% or 545.0 points to trade at 10670.0 at the close. Dainippon Screen Mfg. Co., Ltd. (T:7735) declined 4.83% or 445.0 points to end at 8770.0 and Takeda Pharmaceutical Co., Ltd. (T:4502) was down 4.67% or 238.0 points to 4857.0.

    Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1809 to 1484 and 264 ended unchanged.

    Shares in Pacific Metals Co., Ltd. (T:5541) rose to 52-week highs; gaining 3.07% or 115.0 to 3855.0. Shares in Takeda Pharmaceutical Co., Ltd. (T:4502) fell to 52-week lows; falling 4.67% or 238.0 to 4857.0.

    The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 0.53% to 16.89.

    Crude oil for May delivery was down 0.07% or 0.05 to $68.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.12% or 0.09 to hit $73.69 a barrel, while the June Gold Futures contract fell 0.31% or 4.20 to trade at $1344.60 a troy ounce.

    USD/JPY was up 0.19% to 107.56, while EUR/JPY rose 0.05% to 132.61.

    The US Dollar Index Futures was up 0.13% at 89.76.

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  • China stocks lower at close of trade; Shanghai Composite down 1.47%

    Investing.com – China stocks were lower after the close on Friday, as losses in the Software&Computer Services, Telecoms and Mobile sectors led shares lower.

    At the close in Shanghai, the Shanghai Composite fell 1.47%, while the SZSE Component index fell 1.79%.

    The best performers of the session on the Shanghai Composite were Shanghai Zhongyida Co Ltd A (SS:600610), which rose 10.09% or 0.43 points to trade at 4.69 at the close. Meanwhile, L&K Engineering Suzhou Co Ltd (SS:603929) added 10.00% or 2.41 points to end at 26.50 and Qingdao Topscomm Communication Inc (SS:603421) was up 10.00% or 2.330 points to 25.640 in late trade.

    The worst performers of the session were Shanghai LongYun Advertising&Media Co Ltd (SS:603729), which fell 9.99% or 6.13 points to trade at 55.22 at the close. Hna Innovation Hainan Co Ltd A (SS:600555) declined 9.98% or 0.63 points to end at 5.68 and Qinghaihuading Industrial Co Ltd (SS:600243) was down 9.95% or 0.630 points to 5.700.

    The top performers on the SZSE Component were Nationz Technologies Inc (SZ:300077) which rose 9.99% to 11.45, Swan Fiber Co Ltd (SZ:000687) which was up 9.98% to settle at 11.13 and Tongfang Guoxin Electronics Co Ltd (SZ:002049) which gained 6.93% to close at 58.15.

    The worst performers were Hand Enterprise Solutions Co (SZ:300170) which was down 10.02% to 15.27 in late trade, ShenZhen YUTO Packaging Technology Co Ltd (SZ:002831) which lost 9.45% to settle at 45.78 and Lianhe Chemical Technology Co Ltd (SZ:002250) which was down 9.14% to 9.15 at the close.

    Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 1181 to 162 and 23 ended unchanged.

    Shares in Qinghaihuading Industrial Co Ltd (SS:600243) fell to 3-years lows; falling 9.95% or 0.630 to 5.700. Shares in ShenZhen YUTO Packaging Technology Co Ltd (SZ:002831) fell to all time lows; down 9.45% or 4.78 to 45.78. Shares in Tongfang Guoxin Electronics Co Ltd (SZ:002049) rose to 52-week highs; rising 6.93% or 3.77 to 58.15. Shares in Lianhe Chemical Technology Co Ltd (SZ:002250) fell to 5-year lows; down 9.14% or 0.92 to 9.15.

    The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 22.01 a new 1-month low.

    Gold Futures for June delivery was down 0.34% or 4.60 to $1344.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.22% or 0.15 to hit $68.14 a barrel, while the June Brent oil contract fell 0.19% or 0.14 to trade at $73.64 a barrel.

    USD/CNY was up 0.11% to 6.2861, while EUR/CNY rose 0.06% to 7.7548.

    The US Dollar Index Futures was up 0.10% at 89.73.

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  • Taiwan stocks lower at close of trade; Taiwan Weighted down 1.75%

    Investing.com – Taiwan stocks were lower after the close on Friday, as losses in the , Semiconductor and Electronics sectors led shares lower.

    At the close in Taiwan, the Taiwan Weighted lost 1.75% to hit a new 1-month low.

    The best performers of the session on the Taiwan Weighted were Sumagh High Tech Corp (TW:1475), which rose 10.00% or 2.70 points to trade at 29.70 at the close. Meanwhile, Dah San Electric Wire&Cable Co Ltd (TW:1615) added 9.95% or 2.10 points to end at 23.20 and YC Co Ltd (TW:4306) was up 9.94% or 1.60 points to 17.70 in late trade.

    The worst performers of the session were Walsin Technology Corp (TW:2492), which fell 9.39% or 17.00 points to trade at 164.00 at the close. Accton Technology Corp (TW:2345) declined 8.61% or 7.20 points to end at 76.40 and Swancor Holding Co Ltd (TW:3708) was down 8.33% or 15.00 points to 165.00.

    Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 440 to 317 and 155 ended unchanged.

    Shares in Dah San Electric Wire&Cable Co Ltd (TW:1615) rose to all time highs; rising 9.95% or 2.10 to 23.20. Shares in YC Co Ltd (TW:4306) rose to 3-years highs; rising 9.94% or 1.60 to 17.70.

    Crude oil for May delivery was down 0.10% or 0.07 to $68.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.01% or 0.01 to hit $73.77 a barrel, while the June Gold Futures contract fell 0.20% or 2.70 to trade at $1346.10 a troy ounce.

    USD/TWD was down 0.03% to 29.391, while TWD/CNY rose 0.09% to 0.2137.

    The US Dollar Index Futures was up 0.04% at 89.68.

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  • Asian Equities Extend Losses; Chip Makers Weigh

    Investing.com – Asian equities continued to slip in afternoon trade on Friday after opening most lower with technology shares under pressure after Taiwan Semiconductor Co Ltd (TWO:5425) (TSMC), Apple’s main chip supplier, slumped as much as 7% after it trimmed its full year revenue target.

    In China, the Shanghai Composite and Shenzhen Component fell 1.46% and 1.14% respectively by 1:08AM ET (05:08 GMT). Telecoms group ZTE Corp (HK:0763) called the U.S. ban on American companies selling parts to it “extremely unfair” on Friday, and said that it could not accept the decision. In a filing to the Hong Kong stock exchange on Friday, the company said it “will make active communications and seek legal channels to a solution.” Trade in ZTE shares has been suspended since Tuesday.

    China Huarong Asset Management Co Ltd (HK:China Huarong Asset Management Co Ltd (HK:2799) said its chairman Lai Xiaomin, who is under investigation for alleged corruption, had stepped down.

    Reports that the U.S. Treasury Department is looking into possibilities of an emergency law to curb Chinese investments in sensitive technologies in the U.S. were said to weigh on the Chinese stocks on Friday.

    Reports regarding the trade relations between the U.S. and China garnered some attention in the afternoon. China will retaliate if the U.S. insists on initiating a trade war, said China's ambassador to the United States on Friday.

    Meanwhile, Japan’s Nikkei 225 eased 0.03% in afternoon session. Japan's March national CPI figures came in at 0.9%, down from the previous 1.0%.

    Separately, Takeda Pharmaceutical Co., Ltd. (T:4502) shares fell 3.83% on Friday after London-listed Shire PLC (LON:SHP) rejected its $63 billion cash-and-stock acquisition offer.

    Shire said it had received three offers from Takeda, but decided to reject them all as they “significantly undervalued” the company's values.

    Elsewhere, South Korea’s KOSPI slipped 0.2%. Samsung Electronics (KS:KS:005930) Co. fell as much as 2.01%, while SK Hynix Inc (KS:000660) slid as much as 3.53%.

    Down under, Australia’s S&P/ASX 200 slipped to 5,864.0.

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  • Gold Prices Slide as Dollar Rises On Higher U.S. Yields


    Investing.com – Gold prices were trading lower on Friday as the U.S. dollar rose amidst higher 10-year U.S. treasury yields.

    Gold futures for June delivery on the Comex division of the New York Mercantile Exchange was down $3.3, or 0.24%, to $1,345.60 a troy ounce by 12:00AM ET (04:00 GMT).

    Meanwhile, the dollar climbed against other major currencies. The U.S. dollar index that tracks the greenback against a basket of six major currencies rose 0.07% to 89.70.

    The dollar got a lift from the higher 10-year U.S. Treasury yields that climbed to 2.9%.

    Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.

    As geopolitical tensions eased, prices of safe-haven assets such as gold slipped. U.S. President Donald Trump said he hoped the summit with North Korea would be successful, and he made no new fresh demands on trade at his meeting with Japanese Prime Minister Shinzo Abe earlier this week.

    In other precious metal trade, silver futures fell 0.28% to $17.190 a troy ounce, and platinum futures slipped 0.1% to $939.00 an ounce.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum. It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like). Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32. The standard chunk of Lorem Ipsum used since the 1500s is reproduced below for those interested. Sections 1.10.32 and 1.10.33 from "de Finibus Bonorum et Malorum" by Cicero are also reproduced in their exact original form, accompanied by English versions from the 1914 translation by H. Rackham. There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn't anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators on the Internet tend to repeat predefined chunks as necessary, making this the first true generator on the Internet. It uses a dictionary of over 200 Latin words, combined with a handful of model sentence structures, to generate Lorem Ipsum which looks reasonable. The generated Lorem Ipsum is therefore always free from repetition, injected humour, or non-characteristic words etc.