Markets


Asian stocks in summer lull as markets await Yellen speech
- August 24, 2016

Eight of the 10 major S&P 500 indexes were lower, with the energy index .SPNY falling the most by 1.06 percent, followed by a 0.58 percent decline in materials .SPLRCM . Benchmarks in Singapore, Taiwan, Thailand and New Zealand rose. Materials also rose almost 1 percent. Oil prices fell about 3 percent, after touching two-month highs last week, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising USA oil rig count. (more...)
Storm could enter Gulf late this week, forecasters say
- August 24, 2016

Monday moving forward, the forecast becomes one of possible substantial change based on tropical development. No warnings have been issued for anywhere on the eastern seaboard. The odds of tropical formation within 5 days is 70%. Fiona had winds of 35 miles per hour and was not expected to affect land during the rest of its lifespan. (more...)
Dollar: Currency rises on comments from Fed's Fischer viewed as hawkish
- August 24, 2016

Yellen will speak at the annual meeting of world central bankers in Jackson Hole, Wyoming, at the end of the week. US stocks rose toward a record, while the dollar halted a two-day advance as investors awaited manufacturing and home sales data in the world's largest economy to gauge prospects for higher USA interest rates. (more...)
European stocks rise, Asia flat ahead of Fed speech
- August 24, 2016

Japanese export stocks traded mostly lower throughout the session, likely tracking the yen's movement. The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose more than 1/2 basis point to 1.913 percent and the yield on short-term 2-year climbed almost 1 basis point to 1.438 percent by 05:10 GMT. (more...)
China approves new mainland access route for overseas investors
- August 24, 2016

Whereas companies listed on the Shenzhen Stock Exchange are mainly companies with smaller market capitalisation from the high tech sector or start-up type companies. "In the short term, we think the positive impact is probably higher for Hong Kong stocks as they are cheaper, but in the long term, we think it's good news for us", said Yang Nong, secretary of the board of Rastar Group, a toy auto maker that is listed in Shenzhen. (more...)
AT&T to provide cellphone roaming, other services in Cuba
- August 24, 2016

AT&T Inc T.N , the No.2 US wireless carrier, said it had signed a deal with Cuba's state-owned telecoms provider to offer direct roaming services to its customers visiting Cuba. T-Mobile, Verizon , and Sprint have similar deals. The increase is significant considering that Washington still maintains its ban on tourism for their citizens on the island. (more...)
'Ben-Hur' bombs at box office
- August 24, 2016

The movie was co-produced by Viacom , Inc.'s (NASDAQ: VIAB) Paramount Pictures and Metro-Goldwyn-Mayer Pictures, although MGM picked up around 80 percent of the film's budget. Moore. They will have to inch their way towards it, since no movie stands to make a blockbuster amount of money for a while. But it's the latest in a string of under-performers for Paramount, including Teenage Mutant Ninja Turtles: Out of the Shadows and Zoolander 2 . (more...)
NKorea test-fires submarine-launched missile: SKorea NKorea test-fires submarine-launched missile: SKorea
- August 24, 2016

To better defend against North Korea's advancing program, South Korea plans to deploy an advanced US missile defense shield, known as Terminal High-Altitude Area Defense, or Thaad, on its soil by late 2017. Japanese Foreign Minister Fumio Kishida makes opening remarks during the trilateral meeting in Tokyo , Wednesday, Aug. 24, 2016. The incident also occurred on the same day the foreign ministers of China, Japan and South Korea are scheduled to meet in Tokyo . (more...)
South Africa's CPI slows to 6 percent year-on-year in July South Africa's CPI slows to 6 percent year-on-year in July
- August 24, 2016

The index increased by 0,8% m/m, mainly due to the 11c/l increase in the petrol price. Last month's inflation rate was slightly higher than economists' forecast of a 0.5 per cent decrease, and the same as the reading in June. This was due to a smaller decrease in electricity tariffs on a year-ago basis, the agencies said. "Although this is a slight drop from June's 1.1% y/y, Singapore's core inflation has been inching higher and higher since hitting a recent low of 0.17% in November 2015", ... (more...)
New Tesla matches Bugatti Veyron and closes in on Porsche 918 Spyder
- August 24, 2016

Tesla claims that the Model S P100D with Ludicrous mode is the third fastest accelerating production vehicle ever produced, with a 0-60 miles per hour time of 2.5 seconds, following the LaFerrari and the Porsche 918 Spyder. On the other end of the financial spectrum, Tesla has its financial future riding on its forthcoming Model 3 sedan, its first midmarket model with a starting price of $35,000. (more...)
MTN launches R9.9-billion BEE share scheme MTN launches R9.9-billion BEE share scheme
- August 24, 2016

Established in 2010, MTN Zakhele is a vehicle for previously disadvantaged South Africans to invest in MTN Group. MTN Zakhele has created exceptional value for its 124 00 black investors, notwithstanding an extremely hard nine months, increasing almost fourfold from ZAR20/share at inception in 2010, to about ZAR77/share when the share price closed last Wednesday, 17 August 2016. (more...)
Judge denies Iowa landowners' request to halt pipeline work Judge denies Iowa landowners' request to halt pipeline work
- August 24, 2016

Any decision from the district court will likely be appealed to the Iowa Supreme Court. So, the board is temporarily prohibiting Dakota Access from any construction or pipeline related activities on the property related to the emergency motion until Monday at 9 a.m. (more...)
Turkey shells ISIS, Kurds in northern Syria
- August 24, 2016

Saturday's attack comes with Turkey still in shock just a month after Erdogan and the government survived an attempted coup by rogue military officers, which Ankara blames on USA -based Islamist preacher Fethullah Gulen. The rebels, groups fighting under the banner of the Free Syrian Army, are expected to attack Jarablus from inside Turkey in the next few days. "It's the cross-border settlement of scores by two actors fighting in Syria". (more...)
Pfizer to buy USA cancer drug firm Medivation for $14bn
- August 24, 2016

Pfizer's tabled deal is said to add up to $80 per share for Medivation , a substantial premium on the $52.50 offer that Sanofi unsuccessfully made in April. Analysts are estimating that sales of Xtandi will generate almost $1.33 billion in annual sale for Pfizer in the next four years. Xtandi has held its own against a rival prostate-cancer treatment from Johnson & Johnson called Zytiga. (more...)
The Changing Face of Healthcare In Georgia
- August 24, 2016

In his written comments, Schlosser suggested the company looks forward to the individual market stabilizing, though he told Bloomberg "there are weaknesses in the way it's been set up". The firm also will continue to offer coverage in New York, San Antonio, Los Angeles, and Orange County, California. Health economists say newly insured Texans have required more expensive care than companies were prepared to handle. (more...)
French police force woman to remove 'burkini' on beach French police force woman to remove 'burkini' on beach
- August 24, 2016

The items of clothing made Siam feel comfortable and meant she was not exposed to the afternoon sun last Tuesday. When asked why she was dressed "inappropriately", Sian replied: "I didn't know exactly what was going on, I hadn't really followed the controversy". (more...)
EXCO Resources NL (NYSE:XCO) Broker Price Targets For The Coming Week EXCO Resources NL (NYSE:XCO) Broker Price Targets For The Coming Week
- August 24, 2016

Finally, Morgan Stanley upgraded Concho Resources from an equal weight rating to an overweight rating and upped their target price for the stock from $83.00 to $173.00 in a research note on Monday, June 13th. Finally, BlackRock Fund Advisors raised its stake in Concho Resources by 50.5% in the first quarter. The company's market capitalization is $17.46 billion. (more...)
Stocks move lower in quiet trade; oil prices decline
- August 24, 2016

The dollar halted a two-day advance as investors reassessed the outlook for United States monetary tightening before this week's speech by Federal Reserve Chair Janet Yellen. Britain's FTSE 100 added 0.5 percent to 6,864. At the same time, oil prices remained under pressure as hopes of a production freeze faded and amid reports that Iraq - OPEC's second-biggest producer - was set to ramp up its exports. (more...)
Wall Street opens higher for first time in three days
- August 24, 2016

The Canadian dollar was at 77.62 cents USA, up 0.40 of a cent from Monday's close. "Dollar/yen is most prone to squeeze higher given positioning risks and cross-market divergences". The Nasdaq composite climbed 0.4% and rose as high as 5275.74, an intraday record. Energy stocks jumped 0.61 per cent as oil prices reversed course to rise almost 2 per cent following a Reuters report that Iran seemed more willing for OPEC action to boost prices. (more...)
Scotland Yard to assess contents of Altaf Hussain speech
- August 24, 2016

Earlier, in an statement, Dr Amir had distanced himself from the anti-Pakistan, anti-state statements of chief of party Altaf Hussain. On Monday, following Hussain's provocative address, scores of MQM activists ransacked an ARY News office before clashing with police, leaving at least one person dead and over half a dozen injured. (more...)

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