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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        

Money Markets - World

Amwal Al Ghad English - 2015-10-21 07:50:44
Asian shares turned mixed on Wednesday as soft export data kept investors cautious ahead of the European Central Bank's policy meeting later in the week, though Japan's market was having a go at setting a new peak for the month. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dithered either side of flat with no clear trend evident across the region. There was more evidence of the problems plaguing Asian trade flows with Japanese exports growing at the slowest pace since mid-2014, mainly due to weakness in China. That gap in demand was one reason copper prices slipped to two-week lows CMCc1 and the commodity-heavy Australian share index lost 0.6 percent. Yet the Nikkei .N225 still managed to climb 1.2 percent and probe the October high around 14,438, in part on lingering speculation of more quantitative easing by the Bank of Japan. "Japan's market is so liquid and has been so well conditioned to handle bad news since QQE first began that, in a way, bad news is good news sometimes," said Gavin Parry, managing director at Parry International Trading. Early signs were that shares in the UK, Germany and France would start with small gains, while the S&P 500 EMINI contract ESc1 was up 0.2 per cent. Wall Street had offered little lead with the Dow .DJI ending Tuesday 0.1 percent lower, while the S&P 500 .SPX eased 0.14 percent and the Nasdaq .IXIC 0.5 percent. Earnings for S&P 500 companies are expected to have fallen about 4 percent in the third quarter, while revenue is expected to have declined 3.8 percent, according to Thomson Reuters data. Economic news from the United States was moderately upbeat as housing starts increased 6.5 percent in September to an annual pace of 1.21 million units, beating expectations for 1.15 million units. There was also better news on bank lending in the euro zone as data from the ECB showed a further easing in credit conditions and improving demand for loans. That might lessen the need for the ECB to immediately ramp up its 1 trillion euro asset purchase program. The ECB's governing council meets on Thursday and markets expect it to highlight a willingness to act to boost inflation, but not just yet. "The general consensus is that the ECB has been trying to moderate expectations this week, suggesting it's too early for discussion around extending the current QE program," said analysts at Citi. The euro was a whisker higher at $1.1359 EUR=, but still hemmed in by support at $1.3300 and resistance around $1.1386. The dollar index was last down 0.1 percent at 94.792 .DXY. The New Zealand dollar NZD= hit a one-week low of $0.6737 NZD=D4 after a disappointing global dairy auction saw prices for the country's single largest export fall 3.1 percent. Oil prices softened on speculation U.S. inventory data would only underline the extent of oversupply in the world. The U.S. Energy Information Administration (EIA) will report official inventory data on Wednesday. U.S. crude CLc1 slipped 30 cents to $45.99 per barrel, while Brent LCOc1 lost 13 cents to $48.58. More»
Amwal Al Ghad English - 2015-10-20 07:39:28
Asian equities were mostly lower on Tuesday after commodity prices languished in the wake of China's soft growth data and dampened risk sentiment. The euro hovered near a 10-day low ahead of a European Central Bank meeting that could open the door for yet more monetary easing. With risk appetite flagging in Asia, spreadbetters expected a slightly lower open for Britain's FTSE .FTSE, Germany's DAX .GDAXI and France's CAC .FCHI. The Canadian dollar, already under pressure from sliding crude oil prices, faced extra headwinds as Canada's Liberal Party was tipped to won Monday's general election which would pave the way for increased government spending. Canada's major television networks projected Justin Trudeau's Liberals would topple Prime Minister Stephen Harper's Conservative government, which is known for its fiscal frugality. The Canadian dollar, or loonie, weakened 0.2 percent to C$1.3039 to the dollar CAD=D4 after slumping 0.9 percent overnight on the prospect of voters opting for a prime minister who plans to run deficits to increase infrastructure spending. "CAD is under modest downside pressure versus USD and AUD after the Liberals unexpectedly won (based on projections) a majority government for the first time since 2004. The Liberals have a mostly inexperienced team about to govern the country and that may be unsettling the markets a bit," said Elias Haddad, director of currency and international economics at the Commonwealth Bank of Australia in Sydney. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 0.5 percent. Shanghai shares .SSEC dropped 0.1 percent and Hong Kong's Hang Seng .HSI retreated 0.5 percent. Japan's Nikkei .N225 bucked the trend and gained 0.4 percent. Australian stocks lost 0.6 percent as worries about China weighed on mining and energy stocks following Monday's China GDP data. "The official GDP figures show growth slowed to 6.9% y/y in Q3, down from 7.0% y/y in both Q1 and Q2. Unfortunately, these figures need to be taken with a pinch of salt," economists at Capita Economics wrote. "Flaws with how the GDP deflator is calculated, along with political pressure to meet growth targets that have become increasingly at risk, have meant that official growth rates have not slowed as quickly as most third party measures of growth in recent years." Three-month copper on the London Metal Exchange CMCU3 lost 0.3 percent to $5,185.50 a metric ton after shedding 1.4 percent overnight, while Brent crude oil LCOc1 crawled up 0.4 percent to $48.82 a barrel on short-covering after sinking 3 percent overnight as China's latest data added to concerns over global growth. "Pressure on the metals and mining industry has been unrelenting and to be honest, doesn't look like improving any time soon," said commodity strategist Daniel Hynes at ANZ in Sydney. "The data out yesterday was particularly worrying for commodities considering electricity production, industrial production, fixed asset investment all fell. There's been an implicit feeling that demand would pick up in the fourth quarter. Those numbers potentially derail that outcome." In currencies, the euro struggled as investors braced for the ECB potentially flagging additional easing measures when its policymakers meet on Thursday. The common currency was little changed at $1.1334 EUR= after reaching a 10-day trough of $1.1306. The dollar was nearly flat at 119.51 yen JPY= while the dollar index .DXY also held steady at 94.895 after a 0.2 percent gain overnight. More»
Amwal Al Ghad English - 2015-10-19 09:20:20
Stocks in the U.K. inched higher Monday, but the benchmark FTSE 100’s gain was capped by losses in mining shares, after China’s gross domestic product highlighted the growth challenges facing a key market for commodity companies. The FTSE 100 UKX, -0.17% rose 0.1% to 6,382.77, with only the basic materials sectors moving lower. Miners lagged after government data showed China’s economic growth slowed to 6.9% in the third quarter, the first time growth in gross domestic product has come in below a rate of 7% since 2009. China is a major buyer of metals and related products. Shares in precious metals producer Fresnillo PLC FRES, -2.90% fell 1.8%, as did those for Randgold Resources Ltd. RRS, -2.58% Anglo American PLC AAL, -4.33% gave up 1.6%, and BHP Billiton PLC BLT, -1.86% While the Chinese reading was better than the 6.8% print expected in a Wall Street Journal poll of analysts, it did indicate China’s economy did not significantly strengthen even after a round of stimulus measures from Beijing. The data are “of enormous importance to traders, especially since the [U.S. Federal Reserve] used China as a reason why it had failed to hike rates,” said Richard Perry, market analyst at Hantec Markets, in a note. The GDP reading “is below the government’s 7% target for the year. However this does seem to broadly reflect the continued re-balancing of the Chinese economy towards a more sustainable consumer-led economy,” Perry said. Elsewhere on the FTSE 100, ITV PLC ITV, -0.60% shares were flat after the broadcaster said it agreed to acquire UTV Ltd., which owns the television assets of Northern Ireland’s UTV Media PLC UTV, +4.18% (UTV.LN), for 100 million pounds ($154 million) in cash. Shire PLC SHP, -1.73% SHPG, +1.74% shares fell 1.9%. The pharmaceutical company said the U.S. Food and Drug Administration has requested an additional clinical study in its new-drug application for lifitegrast, which is aimed at treating symptoms of dry eye disease. “If the study is positive, we plan to refile our liftegrast submission in the first quarter of 2016, and will remain on track for the planned lifitegrast launch next year,” said Shire Chief Executive Flemming Ornskov in a statement. Among the top performers on the blue-chip index were shares of financial services provider Old Mutual PLC OML, +0.24% and banking heavyweight Barclays PLC BARC, +0.76% BARC, +0.76% trading up 1.5% and 1.2%, respectively. More»
Amwal Al Ghad English - 2015-10-19 09:13:18
Asian shares held two-month highs Monday as a batch of Chinese data showed the economy slowing while still managing to reassure investors it was not in danger of a hard landing. Adding to optimism wee growing bets that the U.S. Federal Reserve will delay its first rate hike since 2006 to next year, encouraging investors to hunt for bargains in beaten-down Asian equities. The dollar slipped as investors took profits. While China's September quarter growth data was its weakest since the global financial crisis, it was still better than market expectations - indicating that recent stimulus measures were having an impact. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS bounced around in a tiny range on Monday in the wake of the China data. It was last up 0.1 percent and on track for its best monthly performance since February 2012. European stocks are expected to open broadly flat to higher lacking fresh data and taking cues from a sluggish Asian session. Japanese shares .N225 edged 0.5 percent lower while Australia's rose 0.1 percent. Greater China shares were having a mixed day with mainland stocks .SSEC rose 0.5 percent while Hong Kong shares .HSI slipped 0.3 percent. "The GDP data is better than anticipated. It could mean that previously-announced stimulus, such as infrastructure investments, is beginning to work," said Yang Hai, strategist at Kaiyuan Securities. "The market is turning optimistic, against a backdrop of ample liquidity." In a further encouraging sign for Asian equities, Bank of America Merrill Lynch flow data indicated that emerging market equity funds saw inflows from the first time in three months. Within Asia, investors have piled into the more cyclical sectors such as industrials, consumer discretionary and information technology shares at the expense of staples and healthcare sectors in recent days, indicating renewed investor optimism. The CBOE volatility index .VIX, often seen as a gauge of investors' fears in Wall Street shares, fell to a two-month low of 15.05 percent. "Compared to some time ago, more people think things are starting to look up. Yet there remain concerns on the outlook for the global economy," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management. In foreign exchange trade, the dollar held firm against a basket of six other major currencies, after U.S. industrial production data and as the euro and the yen were capped by speculation of more money printing. The dollar's index was at 94.665 .DXY, on track to extend its rebound from its seven-week low of 93.806 hit on Thursday. The euro was at $1.1363 EUR=, little changed on the day but off Thursday's high of $1.1495. The yen traded at 119.42 yen to the dollar JPY=, off its seven-week peak of 118.065. In commodities, prices stabilized after a recent rise as investors took profits from recent gains. Oil prices edged up in early trade on Monday, extending a rebound on Friday after almost a week of declines. Brent futures LCOc1 were $50.27 per barrel, up 0.3 percent from late U.S. levels last week. The 19-commodity Thomson Reuters/Core Commodity CRB Index .TRJCRB edged higher. More»
Amwal Al Ghad English - 2015-10-17 08:09:03
U.S. stocks ended higher on Friday, notching a third week of gains, lifted by a jump in General Electric shares and upbeat consumer sentiment data. The S&P 500's three weeks of gains marked its longest winning streak since May and extended a rebound from the market's August selloff. GE (GE.N) shares rose 3.4 percent to $29.98, hitting their highest level in seven years, after the company reported better-than-expected earnings. The stock was among the biggest boosts to the S&P 500 and Dow. Mattel (MAT.O) jumped 6 percent to $23.89 and was the biggest percentage gainer in the S&P 500, even after its sales missed estimates. Consumer sentiment data helped. The University of Michigan's preliminary index on consumer sentiment rebounded strongly in early October, suggesting that the economic recovery remained on track. "We're in a window right now of roughly between 2,000 and 2,050 (for the S&P) that is fairly important for the market. That's the point at which the market broke down in August. If we can hold above 2,000, that would be a good thing," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. He added: "We're in the better part of the year from a seasonal perspective. Certainly with the selloff that we've had in the third quarter, it sets up for potentially a good fourth quarter." The Dow Jones industrial average .DJI rose 74.22 points, or 0.43 percent, to 17,215.97, the S&P 500 .SPX gained 9.25 points, or 0.46 percent, to 2,033.11 and the Nasdaq Composite .IXIC added 16.59 points, or 0.34 percent, to 4,886.69. For the week, the Dow rose 0.8 percent and the Nasdaq gained 1.2 percent, both also registering a third week of gains, while the S&P 500 was up 0.9 percent. Forecasts for S&P 500 earnings improved slightly as more companies reported results. Third-quarter earnings are now expected to have fallen 3.9 percent, compared with Monday's forecast for a decline of 4.8 percent, according to Thomson Reuters data. S&P consumer staples .SPLRCS, up 1 percent, and discretionaries .SPLRCD, up 0.6 percent, were among the top-performing sectors along with health care .SPXHC, also up 1 percent. Shares of McDonald's (MCD.N) rose 1.1 percent to $104.82, a record closing high. On the down side, Honeywell (HON.N) fell 1.5 percent to $97.03 even though it also beat profit estimates. Industrial tool maker Grainger (GWW.N) slumped 6.3 percent to $207.65 after results. Other domestic data on Friday showed a lackluster industrial production picture, with industrial production in September shrinking for the second month in a row, in line with expectations. The Federal Reserve, which kept rates at near-zero levels at its September meeting, is waiting for signs of stabilizing inflation and sustained economic recovery before it pulls the trigger on a rate hike. Twitter (TWTR.N) rose 4.8 percent to $31.15 after Bloomberg reported that former Microsoft Chief Executive Steve Ballmer owns a 4 percent stake in the company. Advancing issues outnumbered declining ones on the NYSE by 1,829 to 1,225, for a 1.49-to-1 ratio on the upside; on the Nasdaq, 1,428 issues fell and 1,330 advanced for a 1.07-to-1 ratio favoring decliners. The S&P 500 posted 21 new 52-week highs and 4 new lows; the Nasdaq recorded 56 new highs and 25 new lows. About 6.6 billion shares changed hands on U.S. exchanges, compared with the 7.5 billion daily average for the past 20 trading days, according to Thomson Reuters data. More»
Amwal Al Ghad English - 2015-10-15 08:59:57
U.K. stocks edged higher Thursday, catching a break after three straight days of losses, but shares of Burberry Group PLC plunged as China’s economic slowdown hurt sales at the luxury products retailer. The FTSE 100 UKX, +0.96% was up 0.6% to 6,307.97, topped by a 3.6% rise for miner Glencore PLC GLEN, +4.07% whose shares have plunged 58% this year. Unilever PLC ULVR, +4.06% shares also climbed 3.6%, after the consumer-products heavyweight said a jump in third-quarter revenue was driven by strong demand for ice cream. Magnum ice-cream is one of Unilever’s brands. The FTSE 100 on Wednesday slumped 1.2%, under pressure after disappointing Chinese inflation figures. U.K. stocks also fell on Monday and on Tuesday, weighed by downbeat trade data from China. Thursday’s rise in stocks came as Asian equity markets moved higher, as investors shrugged off the dreary Chinese data and latched onto the prospect that soft U.S. data will keep the Federal Reserve from raising interest rates this year. But the weakness in China’s economy is putting a dent in business at Burberry BRBY, -12.05% Its shares tumbled 12%— the most in three years — after the British fashion house said first-half sales were little changed from a year earlier. The shares are on track for their worst performance since September 2012. “Retail revenue growth in second quarter was “impacted by [an] increasingly challenging environment for luxury, particularly Chinese customers,” Burberry said in a statement. The retailer’s sales tally of 1.11 billion pounds ($1.69 billion) came in below the £1.16 billion forecast by analysts polled by FactSet. The pound GBPUSD, +0.0775% meanwhile, traded at $1.5490 versus $1.5477 late Wednesday in New York. More»
Amwal Al Ghad English - 2015-10-15 07:38:51
Asian shares rose to 2-month highs on Thursday and the dollar struggled near multi-week lows after weak U.S. economic data added to expectations that the Federal Reserve will delay hiking interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.9 percent to its highest since mid-August. Spreadbetters saw the lift for equities being maintained into Europe, forecasting a higher open for Britain's FTSE .FTSE, Germany's DAX .GDAXI and France's CAC .FCHI. Australian shares nudged up 0.7 percent. South Korea's Kospi .KS11 soared 1.2 percent while Shanghai shares .SSEC advanced 1.4 percent on latest round of hopes that Beijing would launch stimulus to shore up the economy. "There seem to be considerable expectations of further economic stimulus, which could mitigate some of deflationary pressures," said Gerry Alfonso, analyst at Shenwan Hongyuan Securities. Japan's Nikkei .N225 pared earlier losses and gained 1.3 percent, brushing off soft domestic data. Japanese manufacturers' confidence worsened for the second straight month in October and is expected to fade going forward, a Reuters poll showed, adding to lingering fears of a recession and keeping policymakers under pressure to deploy fresh stimulus. On Wall Street, the Dow .DJI lost 0.9 percent and the S&P 500 .SPX shed 0.5 percent overnight on Wal-Mart's (WMT.N) weak profit forecast and disappointing bank earnings. [.N] U.S. stock futures ESc1 rose 0.6 percent in Asian trade on Thursday, suggesting a slightly firmer open later in the day. U.S. retail sales and producer prices data out on Wednesday were weaker than expected, supporting a building view that the Federal Reserve will delay hiking interest rates until 2016. "With inflation falling and consumer spending stagnating, it will be very difficult for the Federal Reserve to pull the trigger this year. The economy could regain momentum in November or December but a significant turnaround would be needed to shift market expectations," wrote Kathy Lien, managing director of FX Strategy for BK Asset Management. European Central Bank Vice President Vitor Constancio said a rate hike by the Fed could have greater global repercussions than in the past because the economy has changed and central banks have little experience of moving away from zero interest rates. "The truth of the matter is that given the lack of historical precedents on what the impact of a major economy departing from a zero lower bound environment is, market analysts and policy makers do not have much of a choice other than 'learning in real time'," he said in the text of a speech to be given in Hong Kong. The prospect of a delayed rate hike boosted U.S. Treasuries, which saw the benchmark 10-year note yield US10YT=RR fall to a 6-month low of 1.85 percent. The dollar fetched 119.01 yen after hitting a 5-week low of 118.56 yen JPY=. The euro stood near a 7-week high of $1.1489 EUR=. The Australian and New Zealand dollars rallied versus the greenback as well with the kiwi flying to a 3-month peak of $0.6846 NZD=D4. As a result the dollar index .DXY hovered close to 93.845, its lowest since late August. The pound traded near a 3-week high of $1.5495 GBP=D4 struck overnight, when it soared 1.5 percent on upbeat British employment data. U.S. crude oil struggled amid lingering concerns of a global supply glut. Expectations of more Iranian supply following a nuclear deal and concerns that economic worries in China and Europe will weigh on demand have pressured oil this month. [O/R] U.S. crude CLc1 was down 0.3 percent at $46.51 a barrel, although a weaker dollar helped slow its decline. Brent LCOc1 fared a little better, edging up 0.2 percent to $49.30 a barrel. More»
Amwal Al Ghad English - 2015-10-14 09:14:27
World shares fell for a second day running and the dollar dropped to its lowest in almost a month on Wednesday following new signs of a slowdown in China's economy. Limp inflation figures from China, volatility in other major emerging markets and more falls in commodities dampened buying. MSCI's 45-country All World stock index .WORLD was down 0.4 percent at 400.24 points after a near 2 percent drop by Japan's Nikkei had lead Asia lower and as the pan European FTSEurofirst 300 .FTEUS opened roughly 1 percent in the red. [.EU][.T] The dollar .DXY fell to its lowest in almost a month against other main currencies on bets the uncertainty will prevent a rise in U.S. interest rates, oil slipped again while safe-haven gold XAU= notched a fourth day of gains. [/FRX][O/R][GOL/] In Europe, eyes were on Portugal after talks to form a new government had broken down in Lisbon on Tuesday. Caretaker prime minister Pedro Passos Coelho, whose center-right grouping won the Oct. 4 election but lost its parliamentary majority, failed to obtain backing from Socialist Party leader Antonio Costa. Portugal's bond yields rose, defying a broader debt market rally and though Lisbon stocks .PSI20 were up slightly on day they have shed over 5 percent so far this week and some bank stocks are down as much as 16 percent (BCP.LS). COUP MONGERING Brent oil LCOc1 retreated towards $49 a barrel as the International Energy Agency has indicated the oil glut will persist through next year. Industrial metals prices were all lower. Fragile politics are adding to emerging market risks. Brazil’s real BRL= dropped about 2 percent overnight as President Dilma Rousseff accused her opponents of 'deliberate coup-mongering' as tensions rose over a federal audit of how deficit numbers were published. The focus was still mostly on China though and what kind of reaction there will be from authorities there to clearly slowing growth. The country's authorities are due to announce a new five-year economic plan later this month. China's consumer price index (CPI) rose 1.6 percent in September from a year earlier, the National Bureau of Statistics(NBS) said, falling short of expectations of 1.8 percent and down from August's 2.0 percent. Earlier in the day, the Monetary Authority of Singapore (MAS) had said that it will ease its monetary policy for the second time this year by slowing the pace of the Singapore dollar's appreciation. The move was aimed at reviving an economy that narrowly avoided a recession in the third quarter. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ended down 0.6 percent, while Japan's Nikkei stock index .N225 slumped 1.9 percent. Chinese shares were also lower, but only just. The blue-chip CSI300 index .CSI300 down 0.9 percent and the Shanghai Composite Index .SSEC losing 0.8 percent. Australian shares also nudged lower, reflecting China's importance as Australia's main trading partner. It also came after Wall Street had dropped off a seven-week high SPX. The U.S. central bank will hold just two more policy meetings in 2015, on Oct. 27-28 and Dec. 15-16, with expectations fading that the Fed will deliver a hike this year. [FED/DIARY] The yield on benchmark 10-year Treasuries US10YT=RR slipped to 2.042 percent in early European trading while Wall Street futures were pointing to a steady restart. ESc1 The dollar index .DXY, which tracks the greenback against a basket of six peers, was down about 0.2 percent as the euro clawed itself back above $1.1411 EUR=. More»
Amwal Al Ghad English - 2015-10-14 08:51:40
Asian shares tottered on Wednesday, extending losses after consumer inflation in China eased more than expected and heightened concerns about deflationary pressures in the world's second-largest economy. The downbeat mood was expected to continue into European trading, with financial spreadbetters calling Britain's FTSE 100 .FTSE to open down by as much as 1.0 percent. Germany's DAX .GDAXI was seen opening as much as 0.7 percent lower, while France's CAC 40 .FCHI was seen down 0.8 percent. "This weakness looks set to translate into a weaker European open this morning as investors, already concerned about Chinese growth, saw German ZEW economic sentiment expectations hit a one-year low," wrote Michael Hewson at CMC Markets in London. The ZEW figures were released on Tuesday. China's consumer price index (CPI) rose 1.6 percent in September from a year earlier, the National Bureau of Statistics(NBS) said, falling short of expectations of 1.8 percent and down from August's 2.0 percent. Earlier on Wednesday, the Monetary Authority of Singapore (MAS) said that it will ease its monetary policy for the second time this year by slowing the pace of the Singapore dollar's appreciation. The move was aimed at reviving an economy that narrowly avoided a recession in the third quarter. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.6 percent in afternoon trade, while Japan's Nikkei stock index .N225 ended down 1.9 percent. Chinese shares were also lower, with the blue-chip CSI300 index .CSI300 down 0.9 percent and the Shanghai Composite Index .SSEC losing 0.8 percent. Australian shares also extended losses after the Chinese price figures, reflecting China's importance as Australia's main trading partner, though the fall later was pared. The S&P/ASX 200 index ended down 0.1 percent. On Wall Street on Tuesday, stocks dropped, with the S&P 500 SPX touching a fresh seven-week high but ending solidly down. S&P 500 e-mini futures ESc1 were down slightly in Asian trading, off session lows touched in the wake of the China price figures. Stocks have been underpinned in recent weeks after the U.S. Federal Reserve last month held off on raising interest rates for the first time since 2006. But a main reason for the Fed's hesitation continued to worry investors, as American policymakers fretted that a global economic slowdown might threaten the U.S. economic outlook. The U.S. central bank will hold just two more policy meetings in 2015, on Oct. 27-28 and Dec. 15-16, with expectations fading that the Fed will deliver a hike this year. [FED/DIARY] The yield on benchmark 10-year Treasuries US10YT=RR slipped to 2.042 percent in Asian trading from the U.S. close of 2.055 percent on Tuesday. Crude oil prices took back some ground lost overnight but remained under pressure after the International Energy Agency rekindled fears that the market would remain over-supplied for at least another year despite falls in output from non-OPEC producers. "We are still in oversupply," said Daniel Ang, an investment analyst at Phillip Futures Pte Ltd. Brent LCOc1 was up about 0.2 percent at $49.32 per barrel, after skidding 1.24 percent in the previous session. U.S. crude CLc1 edged up about 0.2 percent to $46.75 per barrel after losing 0.9 percent overnight. A weaker dollar did not give much help to commodity prices. The dollar index .DXY, which tracks the greenback against a basket of six peers, was down about 0.1 percent on Wednesday at 94.645, after falling as low as 94.539 on Tuesday, its lowest since Sept 18. The dollar was about 0.1 percent lower against the yen at 119.66 yen JPY=, while the euro added about 0.2 percent to buy $1.1396 EUR= after rising to a 3 1/2-week high of $1.1411 overnight. The Singapore dollar SGD=D3 rose as much as 0.9 percent to 1.3904 against the U.S. dollar, its strongest since Sept. 18, after the MAS easing decision. More»
Amwal Al Ghad English - 2015-10-13 07:42:36
Asian shares stepped back from two-month highs on Tuesday and commodity currencies retreated as a big fall in oil prices triggered profit-taking after a strong rally, though fading expectations of an imminent U.S. rate hike lent some support. Trade data from China was mixed - with exports beating forecast and imports below expectations - doing little to dispel concerns over a slowdown in China. Yet rising hopes of more stimulus from China underpinned markets. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.9 percent from their two-month high touched on Monday. Still, it was still up 7.7 percent so far this month. Japan's Nikkei .N225 fell 1.1 percent. European shares are expected to open flat to weaker, with spreadbetters looking to a 0.2 percent fall in Britain's FTSE .FTSE and France's CAC 40 .FCHI and a flat opening in Germany's DAX .GDAX. Oil prices posted their biggest fall in six weeks on Monday as traders took profits after last week's surge to an 11-week high following a report that OPEC continued to boost crude production despite a persistent glut. [O/R] Brent crude futures LCOc1 rose 0.6 percent in Asia to $50.17 per barrel, hardly recovering from their 5.3 percent drop on Monday. China's exports fell 3.7 percent from the same period last year, less than a drop of 6.3 percent forecast by economists in a Reuters poll and a 5.5 percent decline in August. Imports, however, tumbled more than 20 percent. "The data alone would not be enough to make people optimistic on China. Still, markets appear to be supported by expectations of more stimulus after action by the People's Bank of China yesterday," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management. China's central bank expanded a scheme on Monday that increases banks' ability to lend, boosting hopes of more measures to support the economy - lifting mainland Chinese shares to seven-week highs. On Tuesday, Shanghai shares .SSEC retreated about 0.5 percent but the market mood has improved. "It's back to normal. There will be ups and downs, but not the kind of panic selling we saw earlier," said David Dai, Shanghai-based investor director at Nanhai Fund Management Co. The Shanghai composite index fell 45 percent in the 2 1/2 months from mid-June to late August. On the whole, investors' risk appetite is gradually coming back as they price out a chance of the U.S. Federal Reserve raising interest rates this year. Fed Governor Lael Brainard reinforced such expectations, saying late on Monday the Fed should hold off on any interest rate hike until it is clear that a global slowdown, difficulties in China, and other international risks will not push the U.S. recovery off course. In a sign of easing concerns among investors, the CBOE volatility index .VIX, often seen as investors' fear gauge for Wall Street shares, fell to 16.15 percent - its lowest level in two months. Reduced expectations of a Fed rate hike dented the dollar. Its index against a basket of six major currencies =USD dropped to a three-week low of 94.619 on Monday, having dropped 2.2 percent from the high hit on Sept 25. It last stood at 94.833. The euro firmed to $1.1372 EUR=, near three-week high of $1.1397 touched on Monday. The yen also ticked up to 119.85 to the dollar JPY=, from Monday's low of 120.25 per dollar. Commodity-linked currencies also slipped, with the Australian dollar falling 0.7 percent to $0.7311 AUD=D4, off a two-month high of $0.7382 set on Monday. Gold slipped 0.8 percent to $1,154.80 per ounce XAU=. Emerging market currencies also lost momentum after recent gains.The Indonesian rupiah IDR= and the Malaysian ringgit MYR=, big winners last week from broad relief rally in risk assets, both fell about 1.2 percent. More»