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uBanker Blog

  • France stocks higher at close of trade; CAC 40 up 0.64%

    Investing.com – France stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Industrials and Technology sectors led shares higher.

    At the close in Paris, the CAC 40 added 0.64%, while the SBF 120 index gained 0.61%.

    The best performers of the session on the CAC 40 were Compagnie de Saint Gobain SA (PA:SGOB), which rose 2.95% or 1.27 points to trade at 44.26 at the close. Meanwhile, STMicroelectronics (PA:STM) added 2.53% or 0.455 points to end at 18.455 and Airbus Group SE (PA:AIR) was up 2.21% or 2.10 points to 96.99 in late trade.

    The worst performers of the session were Carrefour SA (PA:CARR), which fell 1.86% or 0.37 points to trade at 19.25 at the close. Cap Gemini SA (PA:CAPP) declined 1.29% or 1.35 points to end at 103.60 and Renault SA (PA:RENA) was down 1.13% or 0.99 points to 86.90.

    The top performers on the SBF 120 were Edenred (PA:EDEN) which rose 8.24% to 27.85, Korian Medica SA (PA:KORI) which was up 5.78% to settle at 26.360 and Sopra Steria Group SA (PA:SOPR) which gained 4.67% to close at 156.80.

    The worst performers were Eramet (PA:ERMT) which was down 5.19% to 113.30 in late trade, Electricite de France SA (PA:EDF) which lost 3.34% to settle at 10.43 and Carrefour SA (PA:CARR) which was down 1.86% to 19.25 at the close.

    Rising stocks outnumbered declining ones on the Paris Stock Exchange by 314 to 270 and 97 ended unchanged.

    Shares in Airbus Group SE (PA:AIR) rose to all time highs; up 2.21% or 2.10 to 96.99. Shares in Edenred (PA:EDEN) rose to all time highs; rising 8.24% or 2.12 to 27.85.

    The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 2.20% to 17.31.

    Gold Futures for April delivery was down 1.64% or 22.20 to $1334.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.91% or 0.56 to hit $62.11 a barrel, while the April Brent oil contract fell 0.14% or 0.09 to trade at $65.58 a barrel.

    EUR/USD was down 0.43% to 1.2354, while EUR/GBP fell 0.54% to 0.8813.

    The US Dollar Index Futures was up 0.47% at 89.50.

    Read more
  • Spain stocks higher at close of trade; IBEX 35 up 0.91%

    Investing.com – Spain stocks were higher after the close on Tuesday, as gains in the Consumer Goods, Building&Construction and Financial Services&Real Estate sectors led shares higher.

    At the close in Madrid, the IBEX 35 rose 0.91%.

    The best performers of the session on the IBEX 35 were Indra A (MC:IDR), which rose 4.10% or 0.450 points to trade at 11.430 at the close. Meanwhile, Siemens Gamesa Renewable Energy SA (MC:GAM) added 3.30% or 0.410 points to end at 12.835 and Acerinox (MC:ACX) was up 2.90% or 0.340 points to 12.050 in late trade.

    The worst performers of the session were Viscofan (MC:VIS), which fell 1.85% or 1.000 points to trade at 53.100 at the close. Red Electrica Corporacion SA (MC:REE) declined 0.90% or 0.145 points to end at 15.985 and Enagas (MC:ENAG) was down 0.73% or 0.150 points to 20.510.

    Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 110 to 71 and 14 ended unchanged.

    Gold Futures for April delivery was down 1.63% or 22.10 to $1334.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.93% or 0.57 to hit $62.12 a barrel, while the April Brent oil contract fell 0.12% or 0.08 to trade at $65.59 a barrel.

    EUR/USD was down 0.43% to 1.2354, while EUR/GBP fell 0.55% to 0.8812.

    The US Dollar Index Futures was up 0.47% at 89.50.

    Read more
  • Netherlands stocks higher at close of trade; AEX up 0.76%

    Investing.com – Netherlands stocks were higher after the close on Tuesday, as gains in the Technology, Industrials and Healthcare sectors led shares higher.

    At the close in Amsterdam, the AEX added 0.76%.

    The best performers of the session on the AEX were ASML Holding NV (AS:ASML), which rose 3.24% or 5.00 points to trade at 159.25 at the close. Meanwhile, Koninklijke Boskalis Westminster NV (AS:BOSN) added 2.13% or 0.65 points to end at 31.19 and Aegon NV (AS:AEGN) was up 2.00% or 0.110 points to 5.620 in late trade.

    The worst performers of the session were Altice NV (AS:ATCA), which fell 1.38% or 0.11 points to trade at 7.84 at the close. Koninklijke Ahold Delhaize NV (AS:AD) declined 0.86% or 0.154 points to end at 17.650 and Heineken (AS:HEIN) was down 0.42% or 0.36 points to 85.00.

    Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 70 to 41 and 15 ended unchanged.

    The AEX Volatility, which measures the implied volatility of AEX options, was down 2.04% to 15.82.

    Crude oil for April delivery was up 0.94% or 0.58 to $62.13 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 0.12% or 0.08 to hit $65.59 a barrel, while the April Gold Futures contract fell 1.63% or 22.10 to trade at $1334.10 a troy ounce.

    EUR/USD was down 0.42% to 1.2355, while EUR/GBP fell 0.54% to 0.8813.

    The US Dollar Index Futures was up 0.46% at 89.49.

    Read more
  • Nigeria stocks lower at close of trade; NSE 30 down 0.03%

    Investing.com – Nigeria stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Banking and Insurance sectors led shares lower.

    At the close in Lagos, the NSE 30 declined 0.03%.

    The best performers of the session on the NSE 30 were Pz Cussons LG (LAGOS:PZ), which rose 5.00% or 1.15 points to trade at 24.15 at the close. Meanwhile, Nestle Nig (LAGOS:NESTLE) added 2.85% or 38.20 points to end at 1380.00 and Dangote Flour Mills PLC (LAGOS:DANGFLOUR) was up 0.63% or 0.10 points to 16.00 in late trade.

    The worst performers of the session were Diamond Bank (LAGOS:DIAMONB), which fell 8.52% or 0.230 points to trade at 2.470 at the close. Fbn Holdings (LAGOS:FBNH) declined 7.26% or 0.850 points to end at 10.850 and Total Nig (LAGOS:TOTAL) was down 4.98% or 11.40 points to 218.00.

    Falling stocks outnumbered advancing ones on the Lagos by 70 to 24 and 11 ended unchanged.

    Crude oil for April delivery was up 1.22% or 0.75 to $62.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 0.05% or 0.03 to hit $65.70 a barrel, while the April Gold Futures contract fell 1.56% or 21.10 to trade at $1335.10 a troy ounce.

    EUR/NGN was down 0.61% to 445.150, while USD/NGN unchanged 0.00% to 361.000.

    The US Dollar Index Futures was up 0.48% at 89.51.

    Read more
  • Russia stocks higher at close of trade; MOEX Russia up 0.67%

    Investing.com – Russia stocks were higher after the close on Tuesday, as gains in the Telecoms, Oil&Gas and Manufacturing sectors led shares higher.

    At the close in Moscow, the MOEX Russia gained 0.67%.

    The best performers of the session on the MOEX Russia were Magnit (MCX:MGNT), which rose 7.93% or 337.0 points to trade at 4588.0 at the close. Meanwhile, NMTP (MCX:NMTP) added 3.47% or 0.2850 points to end at 8.5100 and Tatneft OAO Pref (MCX:TATN_p) was up 3.13% or 12.60 points to 414.80 in late trade.

    The worst performers of the session were SG mechel (MCX:MTLR), which fell 1.94% or 2.85 points to trade at 143.85 at the close. AFK Sistema (MCX:AFKS) declined 1.69% or 0.210 points to end at 12.190 and Polymetal International PLC (MCX:POLY) was down 1.47% or 9.30 points to 621.40.

    Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 115 to 95 and 21 ended unchanged.

    The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 5.21% to 20.940.

    Gold Futures for April delivery was down 1.72% or 23.30 to $1332.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.10% or 0.68 to hit $62.23 a barrel, while the April Brent oil contract fell 0.09% or 0.06 to trade at $65.61 a barrel.

    USD/RUB was up 0.02% to 56.4845, while EUR/RUB fell 0.49% to 69.7187.

    The US Dollar Index Futures was up 0.55% at 89.57.

    Read more
  • Norway stocks higher at close of trade; Oslo OBX up 0.34%

    Investing.com – Norway stocks were higher after the close on Tuesday, as gains in the Auto&components, Diversified Financials and Capital Goods sectors led shares higher.

    At the close in Oslo, the Oslo OBX added 0.34%.

    The best performers of the session on the Oslo OBX were BW LPG Ltd (OL:BWLPG), which rose 5.55% or 1.84 points to trade at 35.00 at the close. Meanwhile, Petroleum Geo - Services ASA (OL:PGS) added 3.26% or 0.73 points to end at 23.14 and Golden Ocean Group Ltd (OL:GOGLT) was up 2.79% or 2.00 points to 73.80 in late trade.

    The worst performers of the session were Grieg Seafood (OL:GSFO), which fell 3.78% or 2.65 points to trade at 67.40 at the close. Questerre Energy Corporation (OL:QEC) declined 2.49% or 0.14 points to end at 5.48 and Schibsted ASA A (OL:SBSTA) was down 2.49% or 5.5 points to 215.2.

    Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 93 to 80 and 26 ended unchanged.

    Crude oil for April delivery was up 1.09% or 0.67 to $62.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 0.09% or 0.06 to hit $65.61 a barrel, while the April Gold Futures contract fell 1.71% or 23.20 to trade at $1333.00 a troy ounce.

    EUR/NOK was up 0.23% to 9.6743, while USD/NOK rose 0.75% to 7.8385.

    The US Dollar Index Futures was up 0.54% at 89.56.

    Read more
  • Italy stocks higher at close of trade; Investing.com Italy 40 up 0.48%

    Investing.com – Italy stocks were higher after the close on Tuesday, as gains in the Telecoms, Technology and Chemicals sectors led shares higher.

    At the close in Milan, the Investing.com Italy 40 gained 0.48%.

    The best performers of the session on the Investing.com Italy 40 were Buzzi Unicem (MI:BZU), which rose 3.66% or 0.77 points to trade at 21.82 at the close. Meanwhile, Telecom Italia (MI:TLIT) added 3.01% or 0.0210 points to end at 0.7186 and STMicroelectronics (MI:STM) was up 2.64% or 0.475 points to 18.465 in late trade.

    The worst performers of the session were Recordati (MI:RECI), which fell 2.15% or 0.66 points to trade at 30.02 at the close. Pirelli&C SPA (MI:PIRC) declined 1.41% or 0.11 points to end at 7.42 and Italgas SpA (MI:IG) was down 1.09% or 0.048 points to 4.360.

    Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 172 to 167 and 30 ended unchanged.

    Crude oil for April delivery was up 1.06% or 0.65 to $62.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 0.14% or 0.09 to hit $65.58 a barrel, while the April Gold Futures contract fell 1.62% or 22.00 to trade at $1334.20 a troy ounce.

    EUR/USD was down 0.47% to 1.2349, while EUR/GBP fell 0.61% to 0.8807.

    The US Dollar Index Futures was up 0.49% at 89.52.

    Read more
  • Greece stocks lower at close of trade; Athens General Composite down 0.95%

    Investing.com – Greece stocks were lower after the close on Tuesday, as losses in the Financials, Travel and Basic Resources sectors led shares lower.

    At the close in Athens, the Athens General Composite declined 0.95%.

    The best performers of the session on the Athens General Composite were Lamda Develop (AT:LMDr), which rose 5.38% or 0.360 points to trade at 7.050 at the close. Meanwhile, J.&P. Avax (AT:AVAr) added 4.65% or 0.041 points to end at 0.922 and Quest Holdings (AT:IQTr) was up 3.26% or 0.350 points to 11.100 in late trade.

    The worst performers of the session were Attica Bank SA (AT:BOAr), which fell 5.20% or 0.002 points to trade at 0.031 at the close. Centric Hold (AT:DESr) declined 4.62% or 0.008 points to end at 0.165 and Marfin Invest (AT:MRFr) was down 3.31% or 0.005 points to 0.146.

    Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 78 to 42 and 10 ended unchanged.

    Gold Futures for April delivery was down 1.31% or 17.80 to $1338.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.11% or 0.07 to hit $61.62 a barrel, while the April Brent oil contract fell 1.05% or 0.69 to trade at $64.98 a barrel.

    EUR/USD was down 0.57% to 1.2336, while EUR/GBP fell 0.52% to 0.8815.

    The US Dollar Index Futures was up 0.57% at 89.59.

    Read more
  • Turkey stocks lower at close of trade; BIST 100 down 2.11%

    Investing.com – Turkey stocks were lower after the close on Tuesday, as losses in the Tourism, Telecoms and Sports sectors led shares lower.

    At the close in Istanbul, the BIST 100 declined 2.11% to hit a new 1-month low.

    The best performers of the session on the BIST 100 were Tesco Kipa Kitle Pazarlama Ticaret Lojistik ve Gida Sanayi AS (IS:KIPA), which rose 2.96% or 0.120 points to trade at 4.180 at the close. Meanwhile, Anadolu Efes Biracilik ve Malt Sanayi AS (IS:AEFES) added 1.78% or 0.46 points to end at 26.36 and Ulker Biskuvi Sanayi AS (IS:ULKER) was up 0.88% or 0.20 points to 22.80 in late trade.

    The worst performers of the session were Koza Altin Isletmeleri AS (IS:KOZAL), which fell 9.30% or 3.34 points to trade at 32.56 at the close. Koza Anadolu Metal Madencilik Isletmeleri AS (IS:KOZAA) declined 7.14% or 0.410 points to end at 5.330 and Turcas Petrol AS (IS:TRCAS) was down 6.56% or 0.160 points to 2.280.

    Falling stocks outnumbered advancing ones on the Istanbul Stock Exchange by 323 to 58 and 26 ended unchanged.

    Gold Futures for April delivery was down 1.22% or 16.50 to $1339.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.29% or 0.18 to hit $61.73 a barrel, while the April Brent oil contract fell 0.85% or 0.56 to trade at $65.11 a barrel.

    USD/TRY was up 1.22% to 3.8045, while EUR/TRY rose 0.70% to 4.6972.

    The US Dollar Index Futures was up 0.54% at 89.56.

    Read more
  • Israel stocks lower at close of trade; TA 35 down 0.61%

    Investing.com – Israel stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Biomed and Real Estate sectors led shares lower.

    At the close in Tel Aviv, the TA 35 fell 0.61%.

    The best performers of the session on the TA 35 were Bezeq Israeli Telecommunication Corp Ltd (TA:BEZQ), which rose 1.31% or 6.8 points to trade at 524.0 at the close. Meanwhile, ICL Israel Chemicals Ltd (TA:ICL) added 1.16% or 17 points to end at 1481 and Israel Corp (TA:ILCO) was up 1.10% or 700 points to 64300 in late trade.

    The worst performers of the session were Isramco Negev 2 LP (TA:ISRAp), which fell 2.85% or 1.3 points to trade at 44.3 at the close. Frutarom Industries Ltd (TA:FRUT) declined 2.68% or 860 points to end at 31240 and Sodastream International Ltd (TA:SODA) was down 2.35% or 680.0 points to 28260.0.

    Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 235 to 141 and 45 ended unchanged.

    Crude oil for April delivery was up 0.36% or 0.22 to $61.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 0.81% or 0.53 to hit $65.14 a barrel, while the April Gold Futures contract fell 1.17% or 15.90 to trade at $1340.30 a troy ounce.

    USD/ILS was down 0.33% to 3.4959, while EUR/ILS fell 0.84% to 4.3141.

    The US Dollar Index Futures was up 0.53% at 89.55.

    Read more
  • Crude Oil Prices Mixed but Optimism Prevails

    Investing.com - Crude oil prices were mixed on Tuesday, as reduced supplies from Canada boosted demand for U.S. oil futures, while the Brent contract remained lower although optimism over the rebalancing of the market persisted.

    The U.S. West Texas Intermediate crude April contract was little changed at $61.55 a barrel by 10:00 a.m. ET (14:00 GMT), just off a two-week high of $62.64 hit overnight.

    The U.S. contract was boosted a result of reduced flows from Canada's Keystone pipeline, which has been operating below capacity since late last year due to a leak.

    Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London lost 67 cents or about 1.02% to $65.00 a barrel, after hitting a more than one-week peak of $65.90 on Monday.

    Prices strengthened after Israel's Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, following border incidents in Syria.

    The commodity also remained supported by ongoing global supply cut efforts. The Organization of the Petroleum Exporting Countries (OPEC), along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018.

    The deal to cut oil output by 1.8 million barrels a day (bpd) was adopted last winter by OPEC, Russia and nine other global producers. The agreement was due to end in March 2018, having already been extended once.

    However fears that rising U.S. output could dampen OPEC’s efforts to rid the market of excess supplies have systematically limited oil prices' gains recently.

    Elsewhere, gasoline futures retreated 1.09% to $1.762 a gallon, while natural gas futures gained 2.89% to $2.632 per million British thermal units.

    Read more
  • Stocks- Wall Street Dips Down on Bond Yield Concern

    Investing.com – Wall Street struggled for direction on Tuesday after the long holiday weekend, as rising bond yields weighed on investors minds.

    The S&P 500 was down seven points or 0.27% to 2,724.87 as of 9:45 AM ET (14:45 GMT) while the Dow composite decreased 98 points or 0.39% to 25,121.25, and tech heavy NASDAQ Composite rose over one and a half points or 0.02% to 7,240.96.

    Fresh jitters have returned to the market, as investors keep an eye on the bond market amid inflation concerns. Markets were closed on Monday for President’s Day.

    Bond yields pulled back slightly from earlier gains, with the benchmark 10-Year Treasury note at 2.893% and the 30-Year note increasing to 3.146%.

    Home Depot (NYSE:HD) was among the biggest gainers after the morning bell, rising 1.60% after its earnings beat analysts’ forecasts. Twitter Inc (NYSE:TWTR) was up 1.04% while drugstore Rite Aid Corporation (NYSE:RAD) rose 6.34% after grocer Albertsons said it would acquire the portion of the retailer not being bought by Walgreens Boots Alliance Inc (NASDAQ:WBA).

    The owner of America’s largest brick and mortar stores, Walmart (NYSE:WMT), slumped 7.43% after it reported lower than expected profit in the fourth quarter. Social media app Snap Inc (NYSE:SNAP) was down 5.63% after Citigroup (NYSE:C) downgraded its stock to sell while Qualcomm (NASDAQ:QCOM) lost 3.93% after it raised its offer to buy NXP Semiconductors NV (NASDAQ:NXPI) to $127.50 per share from $110.

    In Europe stocks were mostly up in a choppy day of trading. In Germany the DAX rose 48 points or 0.39% while France’s CAC 40 increased 28 points or 0.54% and in London the FTSE 100 lost 13 points or 0.19%. Meanwhile Spain’s IBEX 35 was up 83 points or 0.85% and the pan-European Euro Stoxx 50 inched up 21 points or 0.63%.

    In commodities, gold futures were down 0.91% to $1,343.90 a troy ounce while crude oil futures rose 0.29% to $61.73 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.46% to 89.49.

    Read more
  • With Regulatory Doom and Gloom Fading, Cryptocurrencies Show Signs Of Rebound


    Investing.com - Just as the threat of a regulatory crackdown triggered a selloff in cryptocurrency prices in late January, a more favorable regulatory environment since then has helped power a recovery in prices.
    Since bitcoin briefly traded below $6,000 in early February, comments or actions by regulators in several countries have been positives for the market, bringing the digital currency back above the $10,000 level.
    Most recently, Swiss regulators issued a set of guidelines for initial coin offerings, which called for treating them as securities, further legitimizing them.
    Singapore's top regulator indicated the government sees no systemic risk from cryptocurrencies and thus no need to ban trading in them.
    In the U.S., the White House's top cybersecurity official echoed the position of the nation's two top financial regulators that there needed to be more understanding of digital currencies before the establishment of a regulatory framework.
    Even South Korea appeared to back off from any draconian measures, with reports indicating the government is now considering a licensing system for cryptocurrency exchanges instead of a ban.
    In general, regulators appear more concerned about the use of cryptocurrencies in illegal activities, such as money laundering, and establishing investor protections, than limiting or banning the use of digital currencies.

    Read more
  • Natural Gas Futures Rally As Cold Weather Seen Returning

    Investing.com - Natural gas futures were higher on Tuesday, moving further away from their lowest levels in almost two years set last week, as updated weather forecasting models showed a return to colder weather over the eastern U.S. during the first week of March.

    Front-month U.S. natural gas futures climbed 7.0 cents, or around 2.8%, to $2.628 per million British thermal units (btu) by 8:20AM ET (1320GMT).

    It reached its best level since Feb. 9 at $2.662 earlier in the session, well above last Thursday's 21-month low of $2.530.

    U.S. gas futures did not settle on Monday due to the Presidents' Day holiday.

    The commodity saw a weekly decline of 1% last week, its third such loss in a row.

    Natural gas prices are down almost 30% since late January, amid speculation the end of the winter heating season will bring warmer temperatures throughout the U.S. and cut into demand for the fuel.

    Market experts warned that futures are likely to remain vulnerable in the near-term as the coldest part of the winter has effectively passed and below-normal temperatures in April mean less than they do in January and February.

    Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning.

    The heating season from November through March is the peak demand period for U.S. gas consumption.

    Meanwhile, market participants looked ahead to this week's storage data due on Thursday, which is expected to show a draw in a range between 112 and 128 billion cubic feet (bcf) in the week ended Feb. 16.

    That compares with a decline of 194 bcf in the preceding week, a fall of 89 bcf a year earlier and a five-year average drop of 145 bcf.

    Total natural gas in storage currently stands at 1.884 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

    That figure is 577 bcf, or around 23.4%, lower than levels at this time a year ago and 433 bcf, or roughly 18.6%, below the five-year average for this time of year.

    Read more
  • Gold Prices Still Under Pressure on Stronger Dollar

    Investing.com - Gold prices remained under pressure on Tuesday, as U.S. dollar strength and lower demand for safe-haven assets continued to weigh on the precious metal.

    Comex gold futures were down 1.08% at $1,341.6 a troy ounce by 08:00 a.m. ET (12:00 GMT), the lowest since February 14.

    The greenback remained supported against other major currencies despite U.S. deficit worries. The U.S. deficit is projected projected to climb near $1 trillion in 2019 following the recent announcement of infrastructure spending and large corporate tax cuts.

    The dollar has been pressured lower recently by expectations for a faster pace of monetary tightening outside the U.S., which would lessen the divergence between the Federal Reserve and other central banks.

    Market participants were looking ahead to the minutes of the Fed's latest policy meeting, due on Wednesday, for potential indications on the pace of future rate hikes.

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

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.51% at 89.53, the highest since February 14.

    Elsewhere on the Comex, silver futures lost 1.30% to $16.49 a troy ounce.

    Read more
  • As Yen Rises, So Does Chance of Bank of Japan Intervention

    Investing.com - With the weakening U.S. dollar within striking distance of the 100-yen level, Japan's central bank seems poised to intervene in the currency markets to stem the rise of the yen.
    Earlier this month, Japan's finance minister said the yen's recent gains were not abrupt enough to intervene. Market watchers, however, say it is now only a matter of time before it does,
    The level of the yen is important to Tokyo because Japan's five-year economic recovery has been helped by strong exports, thanks to the weak yen.
    The dollar recently traded below the 106-yen level, down sharply from its 2016 high of 125 yen.
    According to BNY Mellon, which see the 100-yen level as a trigger point for action, the Bank of Japan has intervened in the currency markets 329 times since 1991--with limited success.
    Currency experts say such efforts to influence the value of a currency may have a temporary impact but hardly ever alter market trends. Intervention is most likely to succeed when a group of central banks, such as those belonging to the Group of Seven, take coordinated action.
    Group efforts, however, have become rare. Central banks last staged coordinated market intervention in 2011, but that was when the dollar was hitting record lows against the yen.

    Read more
  • Post-Brexit UK Will Lead 'Race to the Top' - Davis

    Investing.com - UK Secretary of State for Brexit David Davis called for continued participation between the UK and the European Union following the UK’s departure from the EU in March next year.

    At a meeting in Vienna, Davis delivered the third in a series of six speeches from UK cabinet ministers, dubbed the ‘road to Brexit’, which are aimed at clarifying the government’s position on the UK’s future relationship with the EU.

    The Prime Minister’s office has described the speeches as a ‘rallying cry to those on both sides of the Brexit debate’.

    During the speech, Davis assured critics on both sides of the channel that leaving the EU would not mean undercutting the EU by ripping up its regulations and slashing taxes. He stated that his vision for the future relationship of the UK and the EU would be one of ‘respectful partners and not suspicious competitors.’ He called for the need for a mutual recognition of standards, which would ensure that the EU and the UK remain close trading partners.

    Mutual recognition, as he viewed it, would be achieved through the pursuit of quality and in driving new standards in a changing economy during the ‘next phase of globalisation’.

    The speech showed Davis, previously viewed as a bastion for a harder Brexit, to be a proponent of a more amicable divorce. In pursuing close alignment with the EU after Brexit, Davis stated that he hoped the UK would be entitled to the same mutual recognition of quality standards as Canada and South Korea..

    Davis stressed that the UK had no intention to undermine the EU and spoke out against critics of the divorce. In ruling out a ‘Mad Max’ post-Brexit Britain, Davis said: ‘With Britain plunged into a Mad Max-style world borrowed from dystopian fiction. These fears about a race to the bottom are based on nothing, not history, not intention, nor interest.'

    In response to fears that Brexit implied the UK was entering into a ‘race to the bottom’, Davis stated that throughout history Britain had been at the forefront of quality and safety standards and that in maintaining the same level of quality post-Brexit, the UK would ‘lead a global race to the top.’.

    Davis said Brexit would not undermine or weaken workers’ rights, financial regulations or jeopardize the environment.

    The cabinet, seen as divided on their post-Brexit vision, have scheduled an ‘away day’ from Parliament on Thursday in a bid to once and for all unite their Brexit position.

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  • Stocks- U.S. Futures Fall As Market Jitters Return

    Investing.com - U.S. Futures pointed to a lower open on Tuesday, as investors return from a long holiday weekend and inflation concerns continue to rattle markets.

    The S&P 500 futures fell 19 points or 0.72% to 2,715.25 as of 6:40 AM ET (11:40 GMT) while Dow futures decreased 198 points or 0.78% to 25,038.0. Meanwhile tech heavy Nasdaq 100 futures was down 53 points or 0.78% to 6,733.75.

    Fresh jitters have returned to the market, as investors keep an eye on the bond market amid inflation concerns. Markets were closed on Monday for President’s Day.

    Bond yields continue to rise, with the benchmark 10-Year Treasury note rising to 2.904% and the 30-Year note increasing to 3.151%.

    Drugstore chain Rite Aid Corporation (NYSE:RAD) was among the biggest gainers in pre-market trading, rising 29.11% after news that grocer Albertson was acquiring the firm. Meanwhile Helios and Matheson Analytics Inc (NASDAQ:HMNY), the owner of MoviePass, was up 4.22%.

    Elsewhere Snap Inc (NYSE:SNAP) was down 4.70% while HSBC Holdings (LON:HSBA) PLC ADR (NYSE:HSBC) lost 3.90% after its financial results missed analysts’ expectations and Apple (NASDAQ:AAPL) decreased 1.06%.

    In earnings news, Home Depot (NYSE:HD) fell 0.25% in pre-market trading despite reporting higher than expected revenue for the fourth quarter, while Walmart (NYSE:WMT) rose 0.11% after its earnings beat expectations.

    Investors will also be looking to other corporate earnings later on Tuesday, including, LendingClub Corp (NYSE:LC), Domino’s Pizza Group Plc (NYSE:DPZ) and Cracker Barrel Old Country Store (NASDAQ:CBRL).

    In Europe stocks were mostly down. Germany’s DAX fell 18 points or 0.15% while in France the CAC 40 was flat and in London, the FTSE 100 was down 25 points or 0.36%. Meanwhile the pan-European Euro Stoxx 50 gained one point or 0.03% while Spain’s IBEX 35 rose 35 points or 0.37%.

    In commodities, gold futures slumped 1.10% to $1,341.30 a troy ounce while crude oil futures were up 0.55% to $61.89 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched up 0.53% to 89.55.

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  • Sri Lanka stocks higher at close of trade; CSE All-Share up 0.19%

    Investing.com – Sri Lanka stocks were higher after the close on Tuesday, as gains in the Information Technology, Chemicals&Pharmaceuticals and Telecoms sectors led shares higher.

    At the close in Colombo, the CSE All-Share rose 0.19% to hit a new 3-months high.

    The best performers of the session on the CSE All-Share were Swarnamahal Financial Services PLC (CM:SWAR), which rose 53.33% or 0.800 points to trade at 2.300 at the close. Meanwhile, SMB Leasing PLC (CM:SEMB) added 16.67% or 0.1000 points to end at 0.7000 and Amana Takaful Life Ltd (CM:ANTK) was up 15.38% or 0.20 points to 1.50 in late trade.

    The worst performers of the session were Serendib Hotels PLC (CM:SHOT), which fell 17.18% or 3.90 points to trade at 18.80 at the close. Amaya Leisure PLC (CM:CONN) declined 12.62% or 6.80 points to end at 47.10 and Kahawatte Plantations PLC (CM:KAHA) was down 11.75% or 4.70 points to 35.30.

    Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 101 to 82 and 49 ended unchanged.

    Shares in Swarnamahal Financial Services PLC (CM:SWAR) rose to 3-years highs; gaining 53.33% or 0.800 to 2.300. Shares in Amaya Leisure PLC (CM:CONN) fell to 5-year lows; falling 12.62% or 6.80 to 47.10.

    Crude oil for April delivery was up 0.41% or 0.25 to $61.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 1.16% or 0.76 to hit $64.91 a barrel, while the April Gold Futures contract fell 1.22% or 16.50 to trade at $1339.70 a troy ounce.

    GBP/LKR was down 0.15% to 217.475, while USD/LKR fell 0.03% to 155.440.

    The US Dollar Index Futures was up 0.56% at 89.58.

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  • Indonesia stocks lower at close of trade; IDX Composite Index down 0.39%

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

    At the close in Jakarta, the IDX Composite Index fell 0.39%.

    The best performers of the session on the IDX Composite Index were Bank Agris Tbk (JK:AGRS), which rose 25.00% or 124.00 points to trade at 620.00 at the close. Meanwhile, Energi Mega Persada Tbk (JK:ENRG) added 24.76% or 52 points to end at 262 and Borneo Olah Sarana Sukses PT (JK:BOSS) was up 24.67% or 185 points to 935 in late trade.

    The worst performers of the session were Intan Baruprana Finance Tbk (JK:IBFN), which fell 13.59% or 14.00 points to trade at 89.00 at the close. Argha Karya Prima Ind Tbk (JK:AKPI) declined 12.20% or 100 points to end at 720 and Trust Finance Indonesia Tbk (JK:TRUS) was down 7.98% or 26.00 points to 300.00.

    Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 227 to 160 and 99 ended unchanged.

    Shares in Bank Agris Tbk (JK:AGRS) rose to all time highs; rising 25.00% or 124.00 to 620.00. Shares in Borneo Olah Sarana Sukses PT (JK:BOSS) rose to all time highs; gaining 24.67% or 185 to 935.

    Crude oil for April delivery was up 0.65% or 0.40 to $61.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April fell 0.96% or 0.63 to hit $65.04 a barrel, while the April Gold Futures contract fell 1.18% or 16.00 to trade at $1340.20 a troy ounce.

    USD/IDR was up 0.47% to 13625.0, while AUD/IDR rose 0.28% to 10776.00.

    The US Dollar Index Futures was up 0.51% at 89.53.

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  • German ZEW Economic Sentiment Index Declines in February

    Investing.com - The mood among German investors worsened this month, a survey showed on Tuesday.

    The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index fell to 17.8 from 20.4 in January. That was still better than the consensus forecast for a reading of 16.5.

    A separate gauge measuring investors’ assessment of the economy’s current conditions ticked down to 92.3 from 95.2 last month. That compared with the consensus forecast for a decrease to 93.9.

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  • Bitcoin Tops $11,500 for the First Time since January

    Investing.com - The price of digital currency bitcoin broke through the $11,500 mark for the first time since January on Tuesday as it continues to slowly recover from a sharp selloff at the start of the month.

    Bitcoin was trading at $11,278 on the Bitfinex exchange by 04:17 AM ET (09:17 AM GMT), after rising as high as $11,658 earlier.

    Bitcoin’s price has been gradually climbing higher after falling to a more than two month low of $6,000 on February 6 amid a massive selloff triggered by fears over a regulatory crackdown, concerns over potential price manipulation in the market, and a hack on cryptocurrency exchange Coincheck in which over $500 million was stolen.

    Despite the recovery, bitcoin’s price remains down around 20% for the year to date.

    Fears over a heavy handed crackdown eased after South Korea, a key market for cryptocurrencies, indicated last week that it will allow cryptocurrency trading to continue in the country. It was welcome news for investors who had feared an outright ban.

    Recent comments from U.S. financial regulators that balanced the need for regulation with consumer protection have also helped prices recover.

    The regulators comments echoed those of U.S. Treasury Secretary Steven Mnuchin, who has said that his number one concern on bitcoin was its use in criminal activity.

    Other major cryptocurrencies traded lower, with Ethereum, the world’s second largest cryptocurrency by market cap, dipping 0.88% to $931.

    The third largest cryptocurrency Ripple was down around 1.32% to $1.09.

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  • Dollar Extends Gains but Outlook Remains Clouded

    Investing.com - The dollar moved higher against a currency basket on Tuesday, continuing its rebound from last week’s three year lows, but the outlook remained clouded by concerns over the outlook for the U.S. fiscal deficit.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.46% at 89.48 by 03:48 AM ET (08:48 AM GMT).

    The index sank to a low of 88.15 on Friday, the weakest since December 2014.

    The dollar has weakened in recent months as expectations for a faster pace of interest rates by the Federal Reserve have been offset by a range of concerns.

    The greenback has been hit by worries that large corporate tax cuts and increased government spending will negatively impact the U.S. fiscal deficit, which is projected to balloon to near $1 trillion in 2019.

    The tax cuts and spending plans could backfire by overheating an already strong economy and causing an unwanted pick-up in inflation.

    Expectations for a faster rate of monetary tightening outside the U.S., which would lessen the divergence between the Fed and other central banks, have eroded the dollar’s relative yield attraction for investors.

    The dollar was higher against the yen, with USD/JPY rising 0.42% to 107.03, extending its pullback from Friday’s 15-month lows of 105.55

    The euro was lower, with EUR/USD down 0.3% to 1.2370, retreating further from Friday’s three year high of 1.2554.

    Sterling was also lower, with GBP/USD shedding 0.26% to trade at 1.3962.

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  • Philippines stocks higher at close of trade; PSEi Composite up 0.14%

    Investing.com – Philippines stocks were higher after the close on Tuesday, as gains in the Mining&Oil, Services and Property sectors led shares higher.

    At the close in Philippines, the PSEi Composite rose 0.14%.

    The best performers of the session on the PSEi Composite were PLDT Inc (PS:TEL), which rose 2.64% or 41.00 points to trade at 1596.00 at the close. Meanwhile, GT Capital Holdings Inc (PS:GTCAP) added 2.26% or 30.00 points to end at 1360.00 and Semirara Mining Corp (PS:SCC) was up 2.25% or 0.80 points to 36.30 in late trade.

    The worst performers of the session were Metro Pacific Investments Corp (PS:MPI), which fell 3.31% or 0.200 points to trade at 5.850 at the close. LT Group Inc (PS:LTG) declined 2.18% or 0.500 points to end at 22.400 and BDO Unibank Inc (PS:BDO) was down 2.12% or 3.30 points to 152.70.

    Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 116 to 95 and 53 ended unchanged.

    Gold Futures for April delivery was down 1.19% or 16.10 to $1340.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 0.81% or 0.50 to hit $62.05 a barrel, while the April Brent oil contract fell 0.67% or 0.44 to trade at $65.23 a barrel.

    CNY/PHP was down 0.03% to 8.2421, while USD/PHP fell 0.13% to 52.270.

    The US Dollar Index Futures was up 0.45% at 89.48.

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  • Crude Oil Prices Mixed but Broadly Supported

    Investing.com - Crude oil prices were mixed on Tuesday, as reduced supplies from Canada boosted U.S. oil, while the Brent contract turned lower although overall optimism over the rebalancing of the market continued to support.

    The U.S. West Texas Intermediate crude April contract was up 65 cents or about 1.06% at $62.20 a barrel by 03:25 a.m. ET (07:25 GMT), just off a two-week high of $62.64 hit overnight.

    The U.S. contract was boosted a result of reduced flows from Canada's Keystone pipeline, which has been operating below capacity since late last year due to a leak.

    Elsewhere, Brent oil for April delivery on the ICE Futures Exchange in London slid 23 cents or about 0.35% to $65.44 a barrel, after hitting a more than one-week peak of $65.90 on Monday.

    Prices strengthened after Israel's Prime Minister Benjamin Netanyahu said on Sunday that Israel could act against Iran itself, not just its allies in the Middle East, following border incidents in Syria.

    The commodity also remained supported by ongoing global supply cut efforts. The Organization of the Petroleum Exporting Countries (OPEC), along with some non-OPEC members led by Russia, agreed in December to extend oil output cuts until the end of 2018.

    The deal to cut oil output by 1.8 million barrels a day (bpd) was adopted last winter by OPEC, Russia and nine other global producers. The agreement was due to end in March 2018, having already been extended once.

    However fears that rising U.S. output could dampen OPEC’s efforts to rid the market of excess supplies have systematically limited oil prices' gains recently.

    Elsewhere, gasoline futures retreated 0.48% to $1.773 a gallon, while natural gas futures gained 2.74% to $2.628 per million British thermal units.

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  • Asian Stocks Dip After Choppy Morning Session; Nikkei Underperforms

    Investing.com - Asian equities were mostly lower on Tuesday after a choppy morning trading session. The U.S. markets were closed on Monday for a holiday, meaning Asian investors did not have their usual leads as they continued to look for clues on whether Wall Street would continue its recovery.

    The Nikkei followed the softer tone in European equities yesterday and closed 1.1% lower as exporters and bank drag on Tokyo stocks. A stronger yen was cited as the catalyst for the selling. The country’s finance minister Taro Aso said today that policymakers needed to do more to achieve their 2% consumer price target. The speech came after the reappointment of Bank of Japan governor Haruhiko Kuroda was reportedly “certain to be approved in parliament”, and that his aggressive quantitative easing policy would remain in place.

    The Japan-listed Sony Corp (T:6758) said it planned to form a joint venture to develop an AI-based taxi-hailing system. The announcement came after several Japanese companies, including Softbank Corp. (T:9984), said they were aiming to roll out ride-hailing services amid a global battle to control the technology increasingly central to urban transport.

    Meanwhile, the mainland Chinese markets are still closed for the Lunar New Year holiday until Thursday, but reports that the country would restrict companies starting equity investment funds overseas received some attention. Taiwan and Vietnam markets were also closed today.

    Hong Kong’s Hang Seng Index came back online today and opened 49 points higher, swung between gains and losses throughout the day and was trading 0.3% lower by 1:30am ET. Chinese banks and developers were the underperformers in the morning trading sessions, while HSBC earnings made headlines as it missed analysts’ estimates and reported a $51.5 billion adjusted revenue and $2.3 billion in adjusted pre-tax profit for the last three months of 2017. The bank’s Hong Kong-listed shares fell 2.03% following the report.

    Singapore’s budget was in focus today as finance minister Heng Swee Keat said in a speech that the top marginal Buyer’s Stamp Duty, which would apply to the portion of residential property value in excess of S$1 million, would be boosted to 4% from the current 3%. The highly-expected increase in the Goods and Services Tax would not take effect this year, according to the speech.

    Singapore-listed Noble Group Ltd (SI:NOBG) was also in focus after it issued a new profit warning today, flagging a $5billon loss. The company would post its earnings on 28th February.

    Elsewhere, Australia’s RBA received some focus as it said there are “pockets” of financial stress in the household sector, and that it was monitoring the situation.

    "The historically high levels of mortgage debt in Australia raises questions about the resilience of household balance sheets to a change in circumstances and the ability of the financial system to absorb a widespread increase in household financial stress," said Michele Bullock, the central bank’s assistant governor for the financial system. The RBA also warned that a strengthening Australian dollar could lead to a slower-pick in economic activity and inflation.

    Index heavyweight BHP Billiton’s share fell 1% after the company reported a 37% fall in first-half net profit. The ASX fell 0.01% at the close in Sydney.

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  • Australia stocks lower at close of trade; S&P/ASX 200 down 0.01%

    Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the Gold, Metals&Mining and Telecoms Services sectors led shares lower.

    At the close in Sydney, the S&P/ASX 200 fell 0.01%.

    The best performers of the session on the S&P/ASX 200 were Altium Ltd (AX:ALU), which rose 26.71% or 3.980 points to trade at 18.880 at the close. Meanwhile, Seven West Media Ltd (AX:SWM) added 18.63% or 0.095 points to end at 0.605 and GWA Group Ltd (AX:GWA) was up 9.90% or 0.300 points to 3.330 in late trade.

    The worst performers of the session were Super Retail Group Ltd (AX:SUL), which fell 14.48% or 1.190 points to trade at 7.030 at the close. Vocus Group Ltd (AX:VOC) declined 10.45% or 0.300 points to end at 2.570 and Infigen Energy (AX:IFN) was down 4.51% or 0.030 points to 0.635.

    Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 630 to 579 and 385 ended unchanged.

    Shares in Altium Ltd (AX:ALU) rose to all time highs; gaining 26.71% or 3.980 to 18.880. Shares in Super Retail Group Ltd (AX:SUL) fell to 3-years lows; falling 14.48% or 1.190 to 7.030. Shares in GWA Group Ltd (AX:GWA) rose to 5-year highs; up 9.90% or 0.300 to 3.330.

    The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 2.92% to 15.049.

    Gold Futures for April delivery was down 0.93% or 12.60 to $1343.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.15% or 0.71 to hit $62.26 a barrel, while the April Brent oil contract fell 0.26% or 0.17 to trade at $65.50 a barrel.

    AUD/USD was up 0.15% to 0.7925, while AUD/JPY rose 0.33% to 84.63.

    The US Dollar Index Futures was up 0.20% at 89.26.

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  • Gold Prices Fall For Third Straight Session As U.S. Dollar Strengthens

    Investing.com - Gold prices remained lower on Tuesday as the dollar rebounded from a three-year low, while investors await the minutes of the latest Federal Reserve meeting due tomorrow.

    Trading volumes were expected to remain thin however, as Wall Street was closed on Monday for a holiday. Comex gold futures were down 0.88% at $1,344.30 a troy ounce as of 11:20 pm ET.

    The dollar was supported by the U.S. homebuilding data released on Friday that increased to more than a one-year high in January and that building permits soared to their highest level since 2007. A higher-than-expected consumer price growth last week was also cited as tailwind.

    The US dollar index that tracks the dollar against a currency basket was quoted at 89.28 at 11:20 pm ET, up 0.22%.

    The greenback has been weakening in recent months, as inflation concerns amid the ideas that U.S. Federal Reserve and other central banks might raise rates were cited as the main reason for the dollar's underperformance. The U.S. Treasury Secretary Steven Mnuchin suggested last month that a weaker dollar policy by the States could be good given the country’s trade deficit is reaching to a 10-year high.

    Gold is sensitive to moves in the dollar and U.S. rates, as a stronger dollar makes gold more expensive for holders of foreign currency, while an increasing U.S. rates increase the opportunity cost of holding non-yielding assets.

    Asian equities were mixed in the morning trading session today, with the Nikkei and the S&P/ASX 200 shedding 1.1% and 0.2% respectively, while the Hang Seng Index gained 0.5%. Mainland Chinese markets are closed for Lunar New Year holiday until Thursday.

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  • Brazil stocks higher at close of trade; Bovespa up 0.32%

    Investing.com – Brazil stocks were higher after the close on Monday, as gains in the Basic Materials, Industrials and Electric Power sectors led shares higher.

    At the close in Sao Paulo, the Bovespa added 0.32%.

    The best performers of the session on the Bovespa were Gerdau SA Pref (SA:GGBR4), which rose 5.02% or 0.80 points to trade at 16.73 at the close. Meanwhile, Magazine Luiza SA (SA:MGLU3) added 4.64% or 3.65 points to end at 82.26 and Metalurgica Gerdau SA (SA:GOAU4) was up 4.44% or 0.33 points to 7.77 in late trade.

    The worst performers of the session were BB Seguridade Participacoes SA (SA:BBSE3), which fell 4.63% or 1.47 points to trade at 30.28 at the close. Tim Participacoes SA (SA:TIMP3) declined 2.13% or 0.30 points to end at 13.79 and IGUATEMI ON NM (SA:IGTA3) was down 1.77% or 0.71 points to 39.44.

    Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 219 to 147 and 46 ended unchanged.

    Shares in Gerdau SA Pref (SA:GGBR4) rose to 3-years highs; rising 5.02% or 0.80 to 16.73. Shares in Metalurgica Gerdau SA (SA:GOAU4) rose to 52-week highs; up 4.44% or 0.33 to 7.77.

    The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 0.24% to 29.69.

    Gold Futures for April delivery was down 0.54% or 7.30 to $1348.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 1.35% or 0.83 to hit $62.38 a barrel, while the May US coffee C contract unchanged 0.00% or 0.00 to trade at $120.45 .

    USD/BRL was up 0.20% to 3.2369, while EUR/BRL rose 0.19% to 4.0164.

    The US Dollar Index Futures was up 0.06% at 89.08.

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  • Peru stocks lower at close of trade; S&P Lima General down 0.14%

    Investing.com – Peru stocks were lower after the close on Monday, as losses in the Non-Metal Minerals, Industrials and Mining sectors led shares lower.

    At the close in Lima, the S&P Lima General declined 0.14%.

    The best performers of the session on the S&P Lima General were Panoro (LM:PML), which rose 1.69% or 0.005 points to trade at 0.300 at the close. Meanwhile, ENGIE Energia Peru SA (LM:ENGI) added 1.30% or 0.090 points to end at 6.990 and Bco Continenta (LM:CON) was up 0.23% or 0.010 points to 4.320 in late trade.

    The worst performers of the session were Corporacion Aceros Arequipa SA (LM:ARE), which fell 2.22% or 0.020 points to trade at 0.880 at the close. Volcan Minera (LM:VOL_pb) declined 1.67% or 0.020 points to end at 1.180 and Aceros Arequip (LM:AREi) was down 1.35% or 0.010 points to 0.730.

    Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 6 to 5 and 21 ended unchanged.

    Crude oil for April delivery was up 1.35% or 0.83 to $62.38 a barrel. Elsewhere in commodities trading, Brent oil for delivery in April rose 1.06% or 0.69 to hit $65.53 a barrel, while the April Gold Futures contract fell 0.54% or 7.30 to trade at $1348.90 a troy ounce.

    USD/PEN was unchanged 0.00% to 3.2505, while EUR/PEN rose 0.05% to 4.0334.

    The US Dollar Index Futures was up 0.06% at 89.08.

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