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Stock Markets

Stock markets turn higher on earnings, ahead of US data

Thursday July 30, 2015    6:10 AM

KEEPING SCORE: Germany's DAX gained 0.5 percent to 11,263.71 and France's CAC-40 was up 0.6 percent at 5,047.43. Britain's FTSE 100 gained 0.7 percent to 6,680.37. On Wall Street, futures for the Dow Jones industrial average and Standard & Poor's 500 both flat.FED DECISION: Fed policymakers voted Wednesday to leave interest rates unchanged and gave no indication a rise was imminent. The Fed said the U.S. economy is improving ... Full Story

US strength helps Goodyear top expectations

Wednesday July 29, 2015    10:40 AM

The tire maker's profit fell 9.9 percent to $192 million, or 70 cents per share. Earnings, adjusted for non-recurring costs, were 84 cents per share.The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.The Akron, Ohio-based company ... Full Story

China stocks bounce back as intervention restores stability

Wednesday July 29, 2015    2:16 AM

SHANGHAI/HONG KONG (Reuters) - Chinese shares bounced back more than 3 percent on Wednesday, as Beijing's latest efforts to prop up values restored a measure of stability to its unruly stock market. After a dramatic plunge of more than 8 percent in Chinese stocks on ... Full Story

Q&A: What stock market tumble means for China, rest of world

Tuesday July 28, 2015    7:04 AM

___HOW CONCERNED ARE ORDINARY CHINESE?Gyrating stock prices are a popular topic of tea break chatter, but only a minority of Chinese are directly affected. The market boom prompted millions of novice investors to pile into the market. But even with the new additions, a survey by Southwestern Univers ... Full Story

TSX set to open higher; focus on earnings

Tuesday July 28, 2015    6:37 AM

September futures on the S&P TSX index were up 0.06 percent at 8:40 a.m. ET. Canadian producer prices rose 0.5 percent in June largely due to higher prices for energy products and vehicles, Statistics Canada said on Tuesday. Canada's main stock index fell ... Full Story

Wall St. set to open higher ahead of Fed meeting

Tuesday July 28, 2015    6:10 AM

(Reuters) - U.S. stocks were set to rise at the open on Tuesday as investors refocused on corporate earnings ahead of a two-day U.S. Federal Reserve meeting which could give clues regarding the timing of a rate hike.Wall Street sank on Monday, for the fifth straight day, after the steepest dec ... Full Story

Wall Street set to open lower as China weighs

Monday July 27, 2015    10:40 AM

REUTERS - Wall Street was set to begin the week in the red on Monday on concerns about China's slowing growth in the wake of the biggest drop in Shanghai shares in eight years. Chinese shares tumbled more than 8 percent as an unprecedented government rescue plan ... Full Story

U.S. auto safety regulator to fine Fiat Chrysler $105 million: report

Sunday July 26, 2015    6:19 AM

A settlement could be unveiled as early as Monday and Fiat Chrysler will have an opportunity to recoup some of the penalties if it meets certain conditions, the newspaper said.In some cases, the automaker will agree to repurchase recalled vehicles.Fiat Chrysler declined to comment.As part of the ... Full Story

South Africa's Truworths expects earnings to beat estimates

Thursday July 16, 2015    6:48 AM

JOHANNESBURG (Reuters) - South African retailer Truworths International said its full-year headline earnings per share grew by between 2 percent and 4 percent, beating the 1.7 percent forecast by Thomson Reuters StarMine SmartEstimates. The fashion retailer also grew its revenue for ... Full Story

eBay nearing deal to sell enterprise unit for about $900 million - WSJ

Wednesday July 15, 2015    8:12 PM

(Reuters) - E-commerce company eBay Inc is nearing a deal to sell its enterprise business to a consortium led by private-equity firm Permira for about $900 million (576.2 million pounds), the Wall Street Journal reported, citing people familiar with the matter. The deal could ... Full Story

Worldpay heads for listing after picking Barclays' Rake as chairman

Wednesday July 15, 2015    9:11 AM

LONDON (Reuters) - British payments processing firm Worldpay took a step nearer a potential 6 billion pound stock market listing by appointing Barclays' deputy chairman Michael Rake as its new chairman on Wednesday. Worldpay is owned by Advent International and Bain C ... Full Story

European markets rise before Yellen speech, Greek vote

Wednesday July 15, 2015    6:11 AM

LONDON (Reuters) - European stocks rose and bond yields fell on Wednesday, with investors optimistic that the Greek parliament will approve a vital third bailout, although the moves were limited before a speech by Federal Reserve chief Janet Yellen. The dollar was little c ... Full Story

Chinese Growth Steady Despite Market Problems

Wednesday July 15, 2015    3:48 AM

But the level, which is unchanged from the first quarter of the year, beat expectations that the economic slowdown currently gripping the country would depress growth further. Difficulties in the stock market were also expected to have had a negative impact, but a rise in retail sales and facto ... Full Story

Rake Quits Barclays To Lead Worldpay Listing

Wednesday July 15, 2015    3:31 AM

Sir Mike's move - revealed by Sky News earlier on Wednesday - will see him step down from the board of Barclays after more than seven years. He has been preparing to resign as a director of the bank for some time, although the timing of his departure may surprise the City given the pivotal ... Full Story

China's growth steady at 7 percent as investment rebounds

Tuesday July 14, 2015    7:44 PM

It has been a difficult year for the world's second-largest economy. Slowing growth in trade, investment and domestic demand has been compounded by a cooling property sector and deflationary pressures. Investor confidence was also rattled by a 30 percent crash in the stock markets last month, which at one point wiped ... Full Story

Dollar, bond yields hold firm ahead of GDP data

Thursday July 30, 2015    6:01 AM

LONDON (Reuters) - The dollar jumped and stock markets around the world were left flat-footed on Thursday after the Federal Reserve painted a relatively bright picture of the U.S. economy, boosting bets that it will hike interest rates in September. Wall Street, which is in the midst of earnings season, was expected to open little changed, although that could change with second quarter growth data, due at 1230 GMT, which will give further insight into U.S. economic health. Big name companies set to ... Full Story

Rollercoaster China stock market has more room to drop

Wednesday July 29, 2015    2:34 AM

An 8.48 percent plunge on Monday -- the biggest in eight years -- renewed fears about the government's management and the health of the underlying economy, in which growth has already slowed to levels unseen since the global financial crisis.In moves widely criticised as anti-market, the gover ... Full Story

Shanghai rebounds after sell-off, other Asian markets mixed

Wednesday July 29, 2015    2:07 AM

Buyers were given a healthy lead from Wall Street, which climbed Tuesday for the first time after five sessions of losses as dealers await a key US Federal Reserve policy meeting later in the day.Shanghai closed up 3.44 percent or 126.17 points at 3,789.17 on easing concerns about government ... Full Story

Malaysia PM shuffles cabinet as corruption allegations mount

Tuesday July 28, 2015    6:55 AM

Najib has come under growing pressure in recent months over claims that huge sums of money had been siphoned off from state-owned development company 1Malaysia Development Berhad (1MDB), which he launched in 2009.Calls for Najib, 62, to step down mounted earlier this month after a Wall Street Journal report alleged that nearly $700 million had been routed to Najib's personal bank accounts.The prime minister and 1MDB have vehemently denied any wrongdoing.In a televised address, Najib announced he had dumped Deputy Prime Minister Muhyiddin Yassin, who has been critical of Najib's handling of the affair and has called for transparency. He is also considered Najib's chief rival for power.Muhyiddin was replaced by Home Minister Zahid ... Full Story

Greece awaiting ECB consent to reopen stock market

Tuesday July 28, 2015    6:28 AM

ATHENS (Reuters) - The European Central Bank (ECB) approved on Tuesday a plan to reopen the Athens Stock Exchange with restrictions on trading by local investors after a one-month shutdown, an official from the Athens Stock Exchange said. Trading will resume after the Greek financ ... Full Story

Sensex falls 551 points, marks biggest one-day percentage fall in nearly two months

Monday July 27, 2015    11:07 AM

MUMBAI (Reuters) - The BSE Sensex fell nearly 2 percent on Monday, its biggest one-day percentage loss in nearly two months, on China's stock market rout and concerns that possible stricter norms for participatory notes back home may hit foreign investments. The BSE Sensex ended ... Full Story

Greek stock market to remain shut until new decree is issued

Monday July 27, 2015    2:16 AM

ATHENS (Reuters) - Greece's stock exchange will remain closed until the government issues a new decree on the bourse, the country's regulator said in a statement on Monday. The Greek stock exchange has been shut since June 29, when a cash-strapped Greek government imposed cap ... Full Story

Amazon posts anomalous profit, Wall Street swoons

Sunday July 26, 2015    6:10 AM

SAN FRANCISCO (Reuters) - Investor enthusiasm for Amazon.com Inc <AMZN.O> is pretty consistent: the stock tends to rise, even though the company isn't consistent about making profits.   On Thursday it posted second quarter profit of $92 million on sales of $23.19 billion, only its th ... Full Story

Goldman profit plunges on weak bond trading, legal provisions

Thursday July 16, 2015    6:41 AM

(Reuters) - Goldman Sachs Group Inc reported its smallest quarterly profit in nearly four years on Thursday as litigation provisions soared and investors pulled back from bond trading. The bank said it set aside $1.45 billion for mortgage-related legal costs and reg ... Full Story

Wall Street higher; financial stocks lead

Wednesday July 15, 2015    11:56 AM

REUTERS - U.S. stocks were marginally higher in afternoon trading on Wednesday, set for a fifth straight day of gains, after Federal Reserve Chair Janet Yellen said the turmoil abroad was unlikely to affect the U.S. economy and that the Fed was on track to raise interest rates this yea ... Full Story

Wall Street up as Fed says on track to raise rates in 2015

Wednesday July 15, 2015    9:02 AM

(Reuters) - U.S. stocks were modestly higher on Wednesday, set for a fifth straight day of gains, after Federal Reserve Chair Janet Yellen said the turmoil abroad was unlikely to affect the U.S. economy and that the Fed was on track to raise interest rates this year. Yelle ... Full Story

China stocks tumble despite positive economic data

Wednesday July 15, 2015    3:52 AM

SHANGHAI (Reuters) - The stock market recovery that began in China last week after a slew of government steps to halt a crash ran abruptly out of steam on Wednesday, with markets dropping sharply in afternoon trade despite surprisingly positive economic data. The CSI300 ... Full Story

Sir Mike Rake To Leave Barclays Board

Wednesday July 15, 2015    3:46 AM

Sir Mike's move - revealed by Sky News earlier on Wednesday - will see him step down from the board of Barclays after more than seven years. He has been preparing to resign as a director of the bank for some time, although the timing of his departure may surprise the City given the pivotal ... Full Story

Jobless rate rises for first time in two years, average earnings increase

Wednesday July 15, 2015    3:22 AM

LONDON (Reuters) - Britain's unemployment rate rose for the first time in more than two years, data showed on Wednesday, but faster growth in earnings means the Bank of England is likely to keep signalling an interest rate hike is approaching. The Office for National S ... Full Story

U.S. lawmaker cites delays, Labor Dept interference, in request to SEC

Tuesday July 14, 2015    5:12 PM

WASHINGTON (Reuters) - A Republican senator is accusing the U.S. Securities and Exchange Commission of failing to release records that he says are crucial to understanding how a controversial plan to tighten conflict-of-interest rules at Wall Street brokerages was drafted. ... Full Story

China shares slide as banks investigate their market exposure

Thursday July 30, 2015    5:52 AM

HONG KONG/SHANGHAI (Reuters) - China shares fell again on Thursday after a report that banks were trying to get to grips with their financial exposure to the stock market slump in June, added to a pall of uncertainty for investors. Concerns about the level of borrowing to fund market positions have been magnified by the grey market - a loosely regulated network of state-owned commercial banks, trust companies, f ... Full Story

Upbeat earnings lift European stocks ahead of Fed

Wednesday July 29, 2015    2:25 AM

LONDON (Reuters) - European equities advanced on Wednesday, spurred by strong corporate earnings and gains in U.S. and Asian markets on hopes that Beijing could stem the rout in its markets without damage to the world's second biggest economy.The euro, the dollar and the yen held steady as ... Full Story

South Africa's MTN expects lower H1 earnings, shares drop

Tuesday July 28, 2015    12:19 PM

JOHANNESBURG (Reuters) - Shares in South Africa's MTN fell 5 percent as the company said it expects a drop in first-half earnings, blaming a weaker exchange rate that hurt its international business. Africa's largest mobile operator said in a statement its headline earnings ... Full Story

Oil prices fall to lowest in nearly six months

Tuesday July 28, 2015    6:46 AM

LONDON (Reuters) - Oil prices fell to their lowest in nearly six months on Tuesday, as a rout in the Chinese stock market cast further doubt over the outlook for crude demand in the world's top commodities consumer. China's already-volatile benchmark stock ind ... Full Story

China shares fall again as Beijing scrambles to calm markets

Tuesday July 28, 2015    6:19 AM

SHANGHAI (Reuters) - Chinese shares fell on Tuesday, as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world's second biggest economy. After a plunge of more than 8 percent in ... Full Story

Gold loses traction, closes in on 5-1/2 year low

Monday July 27, 2015    10:49 AM

LONDON (Reuters) - Gold lost ground on Monday, moving closer to last week's 5-1/2 year lows below $1,100 per ounce, with expectations for a near-term U.S. interest rate hike seen keeping momentum firmly with the bears. While the market has been fixated on U.S. mone ... Full Story

UBS posts second-quarter earnings above expectations

Monday July 27, 2015    2:07 AM

ZURICH (Reuters) - UBS posted a bigger-than-expected jump in second-quarter profit on Monday and chief Sergio Ermotti said the Swiss bank had "good momentum" going into the second half of 2015. Zurich-based UBS published earnings for the three months to Jun ... Full Story

Shares rise on strong earnings reports, Greece relief

Thursday July 16, 2015    9:33 AM

NEW YORK (Reuters) - Stocks worldwide rose on Thursday on strong corporate earnings reports and relief over Greece's debt issues, while the U.S. dollar rallied on expectations the Federal Reserve will hike interest rates this year. U.S. stocks advanced and European s ... Full Story

China firm reins in platform blamed for stock chaos

Thursday July 16, 2015    4:03 AM

Hundsun Technologies' platform, called HOMS, originally aimed to connect companies seeking private equity investment with financial institutions and other lenders, according to Hundsun's website.But state media say the platform was used to help provide financing for margin trading -- whic ... Full Story

Wall Street opens slightly lower after Yellen comments

Wednesday July 15, 2015    9:13 AM

REUTERS - U.S. stocks opened marginally lower on Wednesday as Federal Reserve Chair Janet Yellen said the U.S. central bank remained on track to raise interest rates this year. The Dow Jones industrial average fell 12.3 points, or 0.07 percent, to 18,041.28. The S&P 500 lost 0.76 points ... Full Story

Worldpay heads for listing after picking Barclays' Rake as chairman - sources

Wednesday July 15, 2015    6:13 AM

LONDON (Reuters) - British payments processing firm Worldpay took a step nearer a potential 6 billion pound stock market listing by appointing Barclays' deputy chairman Michael Rake as its new chairman on Wednesday. Worldpay is owned by Advent International and Bain C ... Full Story

Asia shares waver as China slump undercuts boost from data

Wednesday July 15, 2015    3:50 AM

TOKYO (Reuters) - Asian stocks struggled to keep their gains on Wednesday as a renewed slide in Chinese equities eclipsed upbeat data from the world's second-biggest economy, while the euro slipped ahead of a Greek parliamentary vote on austerity measures. Invest ... Full Story

Drops in Burberry and Vodafone push FTSE lower

Wednesday July 15, 2015    3:44 AM

LONDON (Reuters) - FTSE 100 fell on Wednesday as a drop in the shares of luxury goods maker Burberry and telecoms group Vodafone pushed the stock market lower. The blue-chip FTSE0 100 index, which had risen for the last five days, was down 0.3 percent at 6,737.26 points ... Full Story

China growth beats forecasts as activity warms up

Tuesday July 14, 2015    10:33 PM

BEIJING (Reuters) - China's economy grew an annual 7 percent in the second quarter, steady with the previous quarter and slightly better than analysts' forecasts, though further stimulus is still expected after the quarter ended with a stock market crash. Monthly a ... Full Story

China pays a price to avert stock market crash

Tuesday July 14, 2015    2:10 PM

After whipping and driving the Shanghai bourse up 150 percent in a year through looser monetary policy, glowing state media comment and margin trading -- the use of borrowed funds on the exchange -- the government was forced to intervene when sentiment turned and the market plunged 30 percent in jus ... Full Story