U.S. stocks enjoyed their best start to a calendar year in over a decade last week, as traders enjoyed a belated Santa Claus rally. But what could that mean for the rest of the year? Below, we break down the stats for the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC), and what huge gains in Week 1 have meant historically.Dow's Best Start to the Year Since 200...Read More
* Jeep a key pillar of CEO's strategy* Investor optimism boosted by Morgan Stanley report* Shares hit record high By Agnieszka Flak MILAN, Jan 8 (Reuters) - Fiat Chrysler (FCA) shares hit a record high on Monday on growing expectations that the carmaker's coveted Jeep brand will unlock even greater value this year.The stock jumped more than 20 percent last week on a bullish outlook for the auto s...Read More
* Caterpillar at record high after brokerage upgrade* Nasdaq biotech index on track for its worst day since Oct. 26* GoPro plunges to new lows after Q4 sales warning* Dow down 0.13 pct, S&P flat, Nasdaq up 0.17 pct (Updates to early afternoon)By Sruthi ShankarJan 8 (Reuters) - The S&P 500 and the Dow struggled to edge higher on Monday, stalling the strong rally that marked the start of 201...Read More
(Adds hopes to list in early February in paragraph 5)MADRID, Jan 8 (Reuters) - Spanish residential developer Metrovacesa, which was taken over by creditors during the country's property crash, said it plans to list on the stock market, highlighting renewed investor faith in Spanish real estate.Residential construction in Spain is now thriving with foreign investment pouring into developments in c...Read More
(Kitco News)- Globaluncertainty resulting from the U.S. tax reform and new European financialmarket regulations will continue to support gold prices as financial market liquidity dries upand volatility rises, according to one fund manager.Axel Merk,president and chief investment officer at Merk Investments, said that somebanks are still trying to grasp the full implications of all the new changes...Read More
CAIRO, Jan 8 (Reuters) - Average yields on Egypt's three-year and seven-year treasury bonds rose at an auction on Monday, central bank data showed.The average yield on three-year bonds was 15.897 percent, compared with 15.542 percent at the last auction on Dec. 25. The average seven-year bond yield rose to 15.785 percent, from 15.554 percent.Egypt has raised its key interest rates by 700 basis poi...Read More
By Bruno FederowskiSAO PAULO, Jan 8 (Reuters) - Brazilian stocks held near all-time highs on Monday, underpinned by optimism over the nation's fiscal outlook.The benchmark Bovespa stock index was nearly flat following a seven-day string of gains. Blue chips, such as miner Vale SA and state-controlled oil company Petr??leo Brasileiro SA , led the gains.The rally in Brazilian stocks has been support...Read More
(Adds details, quote, share price)LAGOS, Jan 8 (Reuters) - Nigeria's Union Bank has raised 49.7 billion naira ($163 mln)through a rights issued which it said was 120 percent subscribed.The mid-sized lender launched the share sale last September at a ratio of five new shares for every seven held at 4.10 naira each.Union Bank, set up 100-years ago, had said it planned to spend 80 percent of the fun...Read More
(Adds detail, quotes, background)By Marc JonesLONDON, Jan 8 (Reuters) - Foreign investors poured $235 billion into emerging markets as they rallied strongly last year, allowing developing countries to add more than $130 billion to their hard-currency reserves, the Institute of International Finance said on Monday.The $235 billion "portfolio flow" figure was the best in three years and r...Read More
• Retracing US bond yields lending some support. • Reviving safe-haven demand provides an additional boost. • Resurgent USD seemed to cap gains ahead of Fedspeaks. Gold recovered majority of its early losses to $1315 support area and is now headed towards the top end of its daily trading range. Currently placed around the $1319-...Read More
GrubHub Inc (NYSE:GRUB) stock has received a flurry of analyst attention today. While Wedbush downgraded the online restaurant delivery concern to "neutral" from "outperform,"the brokerage firm also upped its price target by $5 to $70. Two other firms chimed in with price-target hikes as well, including Jefferies (to $73) and Wells Fargo (to $68). It appears the hikeswere not enough to offset the...Read More
* Graphic: sterling and gilt yields * Graphic: World FX rates in 2018 * Graphic: Trade-weighted sterling since Brexit vote By Jemima KellyLONDON, Jan 8 (Reuters) - Sterling climbed to a three-week high against a broadly weaker euro on Monday, after a cabinet reshuffle alleviated a little of the political uncertainty that has pressured the UK currency in recent months.Prime Minister Theresa May nam...Read More
ABUJA, Jan 8 (Reuters) - Nigeria's foreign reserves reached $40.4 billion as of Jan. 5, an increase of roughly $1 billion from December, the central bank said on Monday.Successful debt sales, including multiple Eurobond offerings last year, have helped the government accrue billions of dollars in foreign reserves, although they remain far from the peak of $64 billion in August 2008.In its statemen...Read More
LAGOS, Jan 8 (Reuters) - Nigeria's Union Bank has raised 49.7 billion naira through a rights issued which it said was 120 percent subscribed.The mid-sized lender launched the share sale last September at a ratio of five new shares for every seven held. (Reporting by Chijioke Ohuocha, editing by David Evans) Disclaimer: The views expressed in this article are those of the author and may not reflec...Read More
* S&P, Dow lower as healthcare, bank stocks drag* Dollar index hits one-week high as euro falters* U.S. bond prices gain ahead of auctions (Updates with early U.S. market activity, changes dateline, byline)By Caroline ValetkevitchNEW YORK, Jan 8 (Reuters) - The dollar hit a more than one-week high against a basket of currencies and the euro eased on Monday, while U.S. stocks were little change...Read More
Time is more important than price. That's what we - investors - are often made to believe regarding the future price movement. And rightfully so. The price could reach a bottom several dollars ahead of the predicted price target or it could break through it, leaving investors wondering, if there was a breakdown and thus they should expect to see another big downswing shortly. With time, things are...Read More
U.S. stocks are trading in a tight range today, as the market continues to absorb last week's huge gains. While the Nasdaq Composite (IXIC) has managed to push higher, both the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are holding just below breakeven -- potentially due to a round of profit-taking -- though all three indexes tagged record highs earlier. There's little to digest on...Read More
(Adds central bank comments)BUCHAREST, Jan 8 (Reuters) - Romania's central bank began raising interest rates for the first time in a decade on Monday, in an effort to curb inflation, now above its 2017 forecast.The bank raised its benchmark rate by a quarter point to 2.0 percent, becoming the second of the European Union's central and eastern states to start tightening from record low levels, aft...Read More
Italy's Treasury said on Monday it would offer up to 6.0 billion euros over two bonds at auction on Jan. 11.BOND TYPE 3-year BTP7-year BTPMATURITYOct. 15, 2020 Nov. 15, 2024TRANCHE5th 7thCOUPON 0.20 pct1.45 pctAMOUNT OFFERED 2.5-3.0 2.5-3.0(bln euros)SETTLEMENT DATEJan. 15, 2018(Reporting by Milan Newsroom)Keywords: ITALY BONDS/AUCTION ANNOUNCEMENT Disclaimer: The views expressed in this article...Read More
MADRID, Jan 8 (Reuters) - Spanish real estate company Metrovacesa on Monday announced its intention to float in a move it said was aimed at widening its shareholder base, making it easier to access capital markets to get financing for projects.The residential developer will look to sell existing shares owned by Spanish banks Banco Santander and BBVA in the offering, it said in a statement. The com...Read More