Finance news

• Argentina's YPF wants to issue new 10-yr bond -sources

  22-04-2015 23:51
  BUENOS AIRES, April 22 (Reuters) - Argentine state energy company YPF wants to issue a new 10-year bond which it could price close to 8.75 percent, banking sources told Thomson Reuters publication...
  
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• HighTower gives itself two year window to decide to go public

  22-04-2015 23:50
  NEW YORK (Reuters) - Independent wealth management firm HighTower Advisors LLC is profitable, stable and will decide in the next two years whether to go public, Chief Executive Officer Elliot...
  
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• Raymond James quarterly revenue, profit up over last year

  22-04-2015 23:49
  NEW YORK (Reuters) - Brokerage and financial services firm Raymond James Financial Inc said on Wednesday its fiscal second-quarter total revenues and profit rose over last year, although profit fell...
  
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• BofA questions judge's impartiality as it appeals big fraud verdict

  22-04-2015 23:47
  NEW YORK, April 22 (Reuters) - Bank of America Corp on Wednesday asked a federal appeals court to toss a $1.27 billion penalty imposed in a mortgage fraud case, and in a rare move asked that the...
  
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• AT&T profit beats Street estimates, shares rise

  22-04-2015 23:47 via news.yahoo.com
  
  AT&T Inc on Wednesday reported quarterly profit that beat Wall Street estimates and said its subscribers switched to other networks at a lower rate. Shares of AT&T rose about 1.5 percent in after-hours trading. Excluding items, AT&T earned 63 cents per share, ahead of analysts' average estimate of 62 cents per share, according to Thomson Reuters I/B/E/S. Revenue was $32.58 billion compared to $32.48 billion a year earlier. AT&T, which had seen this metric increase over the l
  
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• Nokia's maps unit draws further bidders-Manager Magazin

  22-04-2015 23:30
  
  FRANKFURT (Reuters) - Nokia's maps business has drawn interest frompotential buyers including Facebook and a consortium of German carmakers made up of BMW, Audi and Daimler, a German magazine...
  
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• Accused British 'flash crash' trader fights extradition to U.S.

  22-04-2015 23:27 via news.yahoo.com
  
  By Michael Holden, Tom Polansek and Karl Plume LONDON/CHICAGO (Reuters) - A British man accused of market manipulation that contributed to the May 2010 Wall Street "flash crash" said he opposed being extradited to the United States, while the operator of the market where he traded denied that futures, as prosecutors have argued, caused the crash. Bail for Navinder Singh Sarao, 36, was set at 5 million pounds ($7.5 million), along with other conditions. He will remain jailed in London f
  
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• UPDATE 1-F5 Networks CEO John McAdam to retire

  22-04-2015 23:21
  April 22 (Reuters) - Network equipment maker F5 Networks Inc said longtime Chief Executive John McAdam will retire in July, a move that comes at a time when the company is facing slowing revenue...
  
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• China-listed firms' earnings growth to hit three-year low in 2015 - survey

  22-04-2015 23:19 via news.yahoo.com
  
  By Lee Chyen Yee and Patturaja Murugaboopathy SINGAPORE (Reuters) - Earnings growth at China-listed companies is likely to be the slowest in three years in 2015, in line with an economy the government expects to expand at the weakest rate in a quarter of a century. Driving the decline are difficulties in the financial sector, which is expected to account for 67 percent of all corporate earnings in China this year, and where banks are grappling with rising bad loans and a slowing property market.
  
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• 'Flash crash' whistleblower may see multi-million dollar pay day

  22-04-2015 23:11 via news.yahoo.com
  
  WASHINGTON/NEW YORK (Reuters) - An anonymous tipster who claims to have led the U.S. government to bring charges against alleged "flash crash" trader Navinder Singh Sarao could potentially reap millions of dollars under a federal whistleblower award program. The U.S. Commodity Futures Trading Commission's (CFTC) whistleblower program, created after the 2010 Dodd-Frank Wall Street regulatory reform, awards tipsters between 10 percent and 30 percent of the total sanctions collected if the governme
  
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• Payments business drives eBay's profit beat

  22-04-2015 23:11 via news.yahoo.com
  
  (Reuters) - E-commerce company eBay Inc reported a quarterly profit well ahead of Wall Street estimates as revenue from its payments business rose 14 percent, and said it will spin off its key electronic-payment business PayPal in the third quarter. PayPal said in April it would continue charging eBay merchants less than it does other merchants and the two companies would stay interdependent for the next five years. PayPal's net total payment volume jumped 18 percent to $61 billion in the f
  
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• Stocks end stronger as investors look beyond mixed earnings

  22-04-2015 23:09 via news.yahoo.com
  
  All of the 10 major S&P 500 sectors rose, with the tech index gaining 1.09 percent, propelled by Visa and MasterCard. Visa ended 4.07 percent higher at $68.01 after hitting a record high of $69.98, while MasterCard closed up 3.91 percent after China said it would open up its market to foreign firms for clearing domestic bank card transactions.
  
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• Mutual fund investors are their own worst enemies

  22-04-2015 23:00
  (Reuters) - If the typical mutual fund investor were a racehorse there would be a humane veterinary argument for euthanasia.
  
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• China-listed firms' earnings growth to hit 3-year low in 2015 -survey

  22-04-2015 23:00 via news.yahoo.com
  
  By Lee Chyen Yee and Patturaja Murugaboopathy SINGAPORE, April 23 (Reuters) - Earnings growth at China-listed companies is likely to be the slowest in three years in 2015, in line with an economy the government expects to expand at the weakest rate in a quarter of a century. Driving the decline are difficulties in the financial sector, which is expected to account for 67 percent of all corporate earnings in China this year, and where banks are grappling with rising bad loans and a slowing proper
  
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• AT&T first-quarter profit beats Street estimates

  22-04-2015 22:58 via news.yahoo.com
  
  AT&T Inc on Wednesday reported quarterly profit that beat Wall Street estimates by a penny and lower-than-expected revenue that was nearly flat from a year ago. Excluding items, AT&T earned 63 cents per share, ahead of analysts' average estimate of 62 cents per share, according to Thomson Reuters I/B/E/S. Revenue was $32.58 billion compared to $32.48 billion a year earlier.
  
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• After a sluggish start, US stocks finish higher

  22-04-2015 22:46 via news.yahoo.com
  
  NEW YORK (AP) — Investors cheered moves by Google and credit-card companies on Wednesday and sent the stock market to a solid gain. Google helped set off a surge in technology stocks after it unveiled a low-cost wireless phone service.
  
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• US STOCKS-Stocks end stronger as investors look beyond mixed earnings

  22-04-2015 22:43 via news.yahoo.com
  
  U.S. stocks ended stronger on Wednesday as Visa's potential expansion into China and talk of a turnaround at McDonald's helped investors look beyond a mixed bag of quarterly earnings. All of the 10 major S&P 500 sectors rose, with the tech index gaining 1.09 percent, propelled by Visa and MasterCard.
  
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• Symphony and Box to offer services to each other's customers

  22-04-2015 22:34 via news.yahoo.com
  
  By Lauren Tara LaCapra NEW YORK (Reuters) - Wall Street-backed communications platform Symphony Communication Services LLC and online storage service Box Inc are partnering to allow each other's customers to access their services, the companies said on Wednesday. The partnership will allow Symphony's customers to store and share information using Box's system, which has encoding tools to keep data safe and is able to track the file transfers. Box's customers will also be able to use Symphony's p
  
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• Global markets - Shares climb on earnings; U.S. Treasuries fall

  22-04-2015 22:28 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks in major markets drifted higher on Wednesday as investors took an optimistic view of the latest batch of U.S. corporate earnings, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. "People are seeing the negative effects of foreign exchange and that's not been drastically worse than expected," said Michael Sansoterra, portfolio manager of the Ri
  
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• Shares climb on earnings; U.S. Treasuries fall

  22-04-2015 22:27 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks in major markets drifted higher on Wednesday as investors took an optimistic view of the latest batch of U.S. corporate earnings, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. Benchmark 10-year notes were last down 20/32 in price to yield 1.984 percent after touching a 3-1/2 week high yield of 1.993 percent.
  
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• Michigan governor signs bill to aid Detroit bond sale

  22-04-2015 22:26 via news.yahoo.com
  
  Detroit privately placed $275 million of variable-rate bonds with Barclays Capital to finance its Dec. 10 exit from the biggest-ever municipal bankruptcy. The deal will mark the city's first post-bankruptcy public bond sale. “We need to ensure Detroit’s debt is repaid under the terms of the bankruptcy to allow the city to continue its recovery,” the Republican governor said in a statement. “The savings from lower interest costs will allow Detroit to reinvest in critical areas like p
  
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• Facebook revenue jumps as mobile ad sales surge

  22-04-2015 22:12
  April 22 (Reuters) - Facebook Inc reported a nearly 42 percent rise in quarterly revenue, helped by a jump in mobile advertising sales.
  
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• Wall Street finishes higher, helped by Visa and McDonald's

  22-04-2015 22:08 via news.yahoo.com
  
  (Reuters) - U.S. stocks ended stronger on Wednesday as Visa Inc's potential expansion into China and talk of a turnaround at McDonald's Corp helped investors see the bright side of mixed quarterly earnings. The Dow Jones industrial average rose 88.01 points, or 0.49 percent, to 18,037.6, the S&P 500 gained 10.65 points, or 0.51 percent, to 2,107.94 and the Nasdaq Composite added 21.07 points, or 0.42 percent, to 5,035.17. (Reporting By Sinead Carew; Editing by Nick Zieminski)
  
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• Former Hewlett-Packard CEO Fiorina to launch presidential bid May 4 - WSJ

  22-04-2015 22:06 via news.yahoo.com
  
  WASHINGTON (Reuters) - Former Hewlett-Packard Co Chief Executive Officer Carly Fiorina will launch her campaign for the 2016 U.S. Republican presidential nomination on May 4, the Wall Street Journal reported on Wednesday. Fiorina will announce her candidacy online and hold a conference call for the media, the newspaper said, citing a person with knowledge of her plans. She would join U.S. Senators Ted Cruz, Marco Rubio and Rand Paul as declared Republican candidates. (Reporting by Peter Cooney;
  
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• Omnicare exploring sale: Bloomberg

  22-04-2015 22:06
  (Reuters) - Pharmacy service provider Omnicare Inc is exploring a sale, Bloomberg reported, citing people with knowledge of the matter.
  
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• Brazil's OAS says scandal, restructuring to halve revenue

  22-04-2015 21:56
  SAO PAULO, April 22 (Reuters) - Brazilian engineering
  conglomerate Grupo OAS expects revenue to shrink more than 50
  percent by 2017 as it sells operations and refocuses on civil
  construction after...
  
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• U.S. tax-free money fund outflow largest since 2010

  22-04-2015 21:45
  NEW YORK (Reuters) - Assets at U.S. tax-free money market funds fell $5.71 billion in the latest week, their biggest weekly withdrawals in nearly 5-1/2 years, the Money Fund Report said on...
  
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• Weak earnings and fall in luxury stocks weigh on European shares

  22-04-2015 21:21 via news.yahoo.com
  
  A raft of weak corporate earnings coupled with sharp drops in some major luxury goods stocks weighed on European equities on Wednesday. Luxury group Kering (Milan: KER.MI - news) was among the worst performers after reporting sales dropped by more than expected, with rivals such as Burberry and Hugo Boss (Xetra: A1PHFF - news) also retreating. Tesco's shares initially rose as much as 2.4 percent, with some traders expressing relief at Tesco's determination to restructure its business, but the st
  
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• S&P upgrades Renault to investment grade

  22-04-2015 21:06 via news.yahoo.com
  
  Credit rating agency Standard and Poor's upgraded Renault on Wednesday to investment grade due to the French carmaker's improving financial health and profitability. S&P said it had lifted its rating on the company to BBB-, the lowest level on its scale considered as investment grade, from BB+. "The upgrade reflects our view that Renault will maintain strong credit ratios in the next two years and gradually improve the profitability of its core automotive division," S&
  
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• Stocks gain as investors eye bright side of mixed earnings

  22-04-2015 20:45 via news.yahoo.com
  
  U.S. stocks rose in afternoon trading on Wednesday as Visa's potential expansion into China and talk of a turnaround at McDonald's helped investors see the bright side of mixed quarterly earnings. Visa gained as much as 7.1 percent to hit a record of $69.98, while MasterCard came shy of its all-time high, after China said it would open up its market to foreign firms for clearing domestic bank card transactions. MasterCard was up 4.04 percent at $91.31. A majority of the 10 major S&
  
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• US STOCKS-Stocks gain as investors eye bright side of mixed earnings

  22-04-2015 20:43 via news.yahoo.com
  
  U.S. stocks rose in afternoon trading on Wednesday as Visa's potential expansion into China and talk of a turnaround at McDonald's helped investors see the bright side of mixed quarterly earnings. Visa gained as much as 7.1 percent to hit a record of $69.98, while MasterCard came shy of its all-time high, after China said it would open up its market to foreign firms for clearing domestic bank card transactions.
  
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• Heineken, CFAO to build $164 mln brewery in Ivory Coast

  22-04-2015 20:37
  
  ABIDJAN (Reuters) - Heineken NV , the world's third largest brewer, and Africa-focused trading firm CFAOwill invest 100 billion CFA francs ($163.52 million) to build a brewery in Ivory Coast, a...
  
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• Global Markets - Shares edge up on earnings; U.S. Treasuries dip

  22-04-2015 20:16 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks in major markets edged higher on Wednesday as the latest batch of U.S. corporate earnings held equities in check, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. Wall Street was modestly higher in choppy trading as quarterly earnings continued the early trend of companies topping earnings estimates but falling short of revenue expectations, providing little
  
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• Pensioners risk overestimating Social Security benefits

  22-04-2015 20:08
  
  CHICAGO (Reuters) - (This April 16, 2015 story was corrected in paragraphs 1 and 4 to reflect that Social Security Administration gives little advance warning to beneficiaries, instead of no advance...
  
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• Global shares edge up on earnings; U.S. Treasuries dip

  22-04-2015 20:03 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks in major markets edged higher on Wednesday as the latest batch of U.S. corporate earnings held equities in check, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. Wall Street was modestly higher in choppy trading as quarterly earnings continued the early trend of companies topping earnings estimates but falling short of revenue expectations, providing little
  
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• Shares edge up on earnings; U.S. Treasuries dip

  22-04-2015 20:03 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks in major markets edged higher on Wednesday as the latest batch of U.S. corporate earnings held equities in check, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. Wall Street was modestly higher in choppy trading as quarterly earnings continued the early trend of companies topping earnings estimates but falling short of revenue expectations, providing little
  
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• UPDATE 2-Bilfinger issues fifth warning in under a year

  22-04-2015 19:57
  * Shares drop 8.2 percent in after-hours trading (Adds details on coming restructuring, Q1, background)
  
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• UPDATE 3-McDonald's to develop new turnaround plan as sales fall again

  22-04-2015 19:54
  April 22 (Reuters) - McDonald's Corp's new chief executive officer, who is charged with reinvigorating world's biggest restaurant chain, on Wednesday said he would deliver his turnaround plan next...
  
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• DuPont buying microbiome firm, seeks edge in emerging crop products

  22-04-2015 19:44
  
  (Reuters) - DuPontis buying a California-based microbiome discovery company for development of biological crop products, a move that the chemical and crop company hopes will give it an edge in an...
  
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• UPDATE 1-Euro slide shields Michelin from falling prices

  22-04-2015 19:44
  PARIS, April 22 (Reuters) - Michelin's first-quarter revenue rose 5.6 percent, the French tyre maker said on Wednesday, as a boost from the weaker euro more than made up for declining prices.
  
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• Cruz and Ryan: Don’t Trust Obama…Except on Trade Talks

  22-04-2015 19:30 via news.yahoo.com
  
  Texas Sen. Ted Cruz, for example, has repeatedly said that the Obama administration cannot be trusted on a wide range of issues, such as immigration reform and National Security Agency surveillance. Another critic of the administration, House Ways and Means Committee Chair Paul Ryan (R-WI), has frequently hit the administration with the accusation that it cannot be trusted. In an op-ed published in The Wall Street Journal this morning, the two conservatives called on their fellow lawmakers to pa
  
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• Santander to keep its distance from U.S. in Pioneer deal: sources

  22-04-2015 19:29
  
  (Reuters) - UniCreditand Santanderhave agreed to merge their asset management businesses in a deal where the Spanish bank will have no direct involvement in the new group's U.S. operations, three...
  
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• Cruz and Paul: Don’t Trust Obama…Except on Trade Talks

  22-04-2015 19:25 via news.yahoo.com
  
  Texas Sen. Ted Cruz, for example, has repeatedly said that the Obama administration cannot be trusted on a wide range of issues, such as immigration reform and National Security Agency surveillance. Another critic of the administration, House Ways and Means Committee Chair Paul Ryan (R-WI), has frequently hit the administration with the accusation that it cannot be trusted. In an op-ed published in The Wall Street Journal this morning, the two conservatives called on their fellow lawmakers to pa
  
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• Home sales vault to 18-month high as supply improves

  22-04-2015 19:22 via news.yahoo.com
  
  By Lucia Mutikani WASHINGTON (Reuters) - U.S. home resales surged to their highest level in 18 months in March as more homes came on the market, a sign of strength in housing ahead of the spring selling season. The fairly upbeat report from the National Association of Realtors on Wednesday implied the economy was regaining some momentum after hitting a speed bump at the start of the year. We should have a solid spring selling season and should see the housing market continuing to improve through
  
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• Credit Suisse says struck security deal with 'Flash Crash' suspect

  22-04-2015 19:09 via news.yahoo.com
  
  Credit Suisse UK entered into a security agreement with Nav Sarao Futures in 2010 that was a standard banking arrangement and not a mortgage, a Credit Suisse spokesman said on Wednesday. Nav Sarao is accused of earning millions through fraud and helping cause a trillion dollar "flash crash" on U.S. stock markets. "A charge was created and registered in May 2010 in favor of CSUK which related to a Security Agreement," the Credit Suisse spokesman said, citing regulatory filings in emailed comments
  
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• Teva ready to divest operations to win regulatory nod for Mylan buy

  22-04-2015 19:02
  
  (Reuters) - Generic drugmaker Teva Pharmaceutical Industries Ltd said it could "promptly" divest some operations to obtain regulatory clearance for its proposed $40 billion takeover of smaller...
  
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• Accused 'flash crash' trader granted bail, fights extradition to U.S.

  22-04-2015 18:46 via news.yahoo.com
  
  LONDON/CHICAGO (Reuters) - A British trader accused by U.S. authorities of market manipulation that contributed to the May 2010 Wall Street "flash crash" was granted bail by a London court on Wednesday, after saying he opposed extradition to the United States for a trial. Navinder Singh Sarao, 36, will remain jailed in London for at least one night after bail was set at 5 million pounds ($7.5 million), along with other conditions. Sarao's bail hearing was his first appearance sinc
  
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• Investors question whether banks' robust profit growth will hold

  22-04-2015 18:35
  
  NEW YORK (Reuters) - Financial companies are among the standouts of the first-quarter earnings reporting season, but their dazzling profit growth has failed to impress investors, who are finding...
  
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• European stocks jittery as Greek debt drama drags on

  22-04-2015 18:29 via news.yahoo.com
  
  Europe's main stock markets diverged Wednesday as investors reacted to mixed corporate news and awaited the next moves concerning Greece. London's benchmark FTSE 100 index ended the day down 0.49 percent to 7,028.24 points, while the CAC 40 in Paris finished 0.36 percent higher at 5,211.09 points.
  
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• South Africa's rand eases on strong U.S. housing resale data

  22-04-2015 18:23 via news.yahoo.com
  
  South Africa's rand weakened against the dollar on Wednesday as the greenback widened its gains on strong U.S. housing data, adding pressure on emerging market currencies. Data from the U.S. related to home sales came in a bit stronger than consensus expectations," said Rob Price, market analyst at ETM Analytics. The strong numbers are another indicator that the U.S. economy is regaining momentum, but previous data on retail sales, housing starts and manufacturing will probably be insufficient t
  
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