Financial news - page 3

European stocks rise at the open European stocks rose at the open on Tuesday, extending gains that have pushed the Stoxx Europe 600 to close higher in five of the last six sessions. German DAX: 2.29% surged 2.6% after a three-day break, U.K. FTSE 100: 0.29% rose 0.4%. source

U.K. House Price Index (HPI) dropped 1.7% which is the biggest decline since February 2009 As stated in Nationwide Building Society report - " UK house prices fell by 1.7% over the month in May, after taking account of seasonal effects – this is the largest monthly fall since February 2009. As a

The Reserve Bank of Australia left its interest rate and the target yield on three-year government bonds unchanged At the monetary policy meeting on Tuesday, the Reserve Bank of Australia board kept its interest rate at a record low 0.25 percent and the targeted yield on three-year government bonds

Both Brent and WTI prices rise ahead of OPEC+ meeting Oil prices rose on Tuesday because the traders are waiting to see the major producers' agreement to extend their output cuts at a virtual meeting expected later this week. Brent crude LCOc1 futures rose 0.91%, or 35 cents, to $38.67 a barrel as

U.S. Manufacturing Index rebounds slowly, still below 50 ISM United States Manufacturing PMI contracted at a slightly slower rate in May, according to a report released by the Institute for Supply Management on Monday. Purchasing Managers' Index (PMI) rose to 43.1 in May which is below economist

The European Central Bank (ECB) is likely to further ease the monetary policy on Thursday The European Central Bank (ECB) decision on Thursday is highly anticipated by financial markets. While recognizing the success of its lending facilities provided in response to the coronavirus crisis, the ECB

Hong Kong retail sales fell for the fifteenth straight month The value of retail sales decreased 36.1 percent annually in April, following a 42.1 percent fall in the preceding month. As the Census and Statistics Department showed on Monday - "according to the MRS, the value of total retail sales in

German Final Manufacturing PMI: 36.6 vs 36.8 preliminary Markit notes in the recent release that "Germany's manufacturing sector continued to be severely impacted by the coronavirus disease 2019 (COVID-19) pandemic in May, with the rates of decline in output and new orders remaining sharp following

Markit India Manufacturing Purchasing Managers Index (PMI) increased from 27.4 to 30.8 India's PMI increased to 30.8 in May from 27.4 in April. Any reading below 50 indicates contraction in the sector. New orders continued to fall in May and were the second-fastest since the inception of series in

China's factory and service sector activities expanded in May The purchasing managers' index (PMI) for China's manufacturing sector and that for the non-manufacturing sector both stood above the boom-bust line of 50 in May, indicating steady recovery in major industries, data from the National

The Federal Reserve detailed ETFs purchases iShares iBoxx Investment Grade Corporate Bond ETF (NYSEARCA:LQD) among the top purchases and amounted to $326M as of May 19 market value. Vanguard intermediate-term corporate bond ETF (NASDAQ:VCIT) at $228M, followed by Vanguard short term corporate

Energy Transfer Partners: job cuts starting next week Energy Transfer (NYSE:ET) says it will begin cutting ~6% of its workforce next week, the company's chief commercial officer reportedly told employees today. Energy Transfer executives said earlier this month that it would cut operational and

Australia waives payroll tax Treasurer Josh Frydenberg said in an interview with the Daily Telegraph that the Australian government would call the states to eliminate payroll taxes as a part of the plan to accelerate the country's development and to create jobs. "I’d love the states to get rid of

For the first time since the 1930s, the Fed will provide loans to companies outside the financial system Federal Reserve Chairman Jerome Powell took part in a virtual discussion at the Griswold Center for Economic Policy Studies at Princeton University on Friday, and he acknowledged that the Fed was

France's GDP fell less than expected in the first quarter The French economy contracted less than originally anticipated in the first quarter, but remained in a deep recession, as the coronavirus pandemic affected spending, investment, and exports, detailed statistics from Insee showed on Friday

Crude oil inventories increased by 7.9 million barrels, gasoline stocks fell 700,000 barrels The Energy Information Administration said on Thursday that "U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous

Pending Home Sales fell 34.6% - the largest in history Existing home sales collapsed but new home sales rebounded in April, which leaves pending home sales to break the tie and analysts expected a 17.3% MoM drop. However, pending home sales disappointed notably with a 21.8% MoM collapse, sending YoY

Federal Reserve System (Fed) Beige Book: economic activity in the USA to decline for almost three consecutive months Economic activity declined in all Districts – falling sharply in most – reflecting disruptions associated with the COVID-19 pandemic as stated in the summary of comments by Fed Beige

European stocks rise on Thursday after the announcement €750bn recovery plan Stocks in Europe rose on Thursday despite growing tensions between the US and China and the approval of a controversial Hong Kong national security law. The ascent came in the wake of the announcement on Wednesday of the

Brexit talks behind schedule because negotiators got Covid-19 The next round of virtual talks will begin on 1 June The UK's top negotiator David Frost said that Brexit talks between the government and the European Union were “paused slightly” by the coronavirus pandemic and were behind schedule by

European Central Bank: eurozone economy may decline from 5% to 12% this year European Central Bank President Christine Lagarde said on Wednesday that GDP may decline from 8% to 12% this year: moderate forecast is decline by 5%, average scenario is a fall of 8%, serious scenatio - by 12%. Christina

Bank of Canada (BoC) - significant monetary stimulus for well-functioning financial system The Canadian economy is going to need significant monetary stimulus throughout the recovery from the Covid-19 crisis to ensure it does not slide into deflation, Bank of Canada governor Stephen Poloz said in

New York Stock Exchange reopens " Today, May 26, marks the reopening of the NYSE trading floor, following its temporary closure two months ago in the early days of the COVID-19 pandemic. This moment comes as we begin working together across America to restart our economy. We are starting cautiously

Some banks in Europe may not withstand - the European regulator warned The European Banking Authority (EBA) stated the lenders are more exposed to smaller companies and consumer credit — areas hit hard by coronavirus pandemic. Europe’s banks have built enough buffers to face the effects of the

PBoC is adapting various monetary policy instruments for sufficient liquidity PBoC is adapting various monetary policy instruments to ensure reasonable and sufficient liquidity, which should be higher than last year, including to ensure social financing, Governor Yi Gang said in an interview

Bank of Japan will not hesitate to take additional easing measures The Bank of Japan will not hesitate to take additional mitigation measures if necessary, as the new coronavirus has suppressed global activity, Governor Haruhiko Kuroda said Tuesday. The Japanese economy was in an increasingly

The FTSE 100 opens 1.8% higher than Friday's close on a decision to ease pandemic restrictions Indices are rising as all UK shops are allowed to open next month. Besides, stocks rose in Britain’s biggest listed companies on Tuesday, after prime minister Boris Johnson announced an easing of

Lufthansa to receive $9.8 billion The German government, which will take a 20 percent stake in the airline, said Lufthansa was facing an ‘existential emergency.’ Lufthansa will receive a bailout worth 9 billion euros, or $9.8 billion, to help the airline survive an “existential emergency” caused by

Canadian banks are again gaining favor with investors Canadian banks, whose dividends yields climbed during the financial crisis, are again gaining favor with investors, as their pledges to maintain payouts gives them an edge over global counterparts who have shunned them. Banks are currently

PBOC set the Monday USDCNY midpoint at 7.1209 After the PBOC fixed the yuan at 7.0939 on Friday, the PBOC set the Monday USDCNY midpoint at 7.1209, which was not only weaker than the expected fix of 7.1205 but the weakest fixing since 2008. Bloomberg stated that "the spread between spot USD/CNH and