Analyst news

• U.S. banks' dismal first quarter may spell trouble for 2016

  10-04-2016 22:17 via news.yahoo.com
  
  It is only April, but some on Wall Street are already predicting a rotten 2016 for U.S. banks. Concerns about economic growth in China, the impact of persistently low oil prices on the energy sector, and near-zero interest rates are weighing on capital markets activity as well as loan growth. Analysts forecast a 20 percent decline on average in earnings from the six biggest U.S. banks, according to Thomson Reuters I/B/E/S data.
  
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• German criticism of ECB gets louder as politicians say savers are losing out

  10-04-2016 19:03 via news.yahoo.com
  BERLIN (Reuters) - A chorus of conservative German politicians have criticised the European Central Bank for its interest rate policy, which they say is hitting the retirement provisions of ordinary Germans, could lead to asset bubbles and even boost the right-wing. German Finance Minister Wolfgang Schaeuble partly blamed the ECB's policy for the success of the right-wing Alternative for Germany (AfD) in recent regional elections, which saw it take up to a quarter of votes in a setback to Schaeu
  
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• MIDEAST STOCKS-Food sector and firmer oil price lifts Saudi index, Egypt market dips

  10-04-2016 16:58 via news.yahoo.com
  * Saudi's Almarai spurs food sector bulls * Petrochemicals add support after oil prices firm * Egypt down despite potential Saudi investment * Dubai climbs to five-month high * Real estate and energy stocks lift Abu Dhabi By Celine Aswad DUBAI, April 10 (Reuters) - Food companies buoyed the Saudi stock market on Sunday after better than expected results from the region's largest dairy food producer while a visit by the king of Saudi Arabia to Egypt failed to lift the Cairo bourse. The Saudi inde
  
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• BUZZ-Almarai rises after Q1 earnings, heading to technical resistance

  10-04-2016 09:08 via news.yahoo.com
  ** Shares in Almarai rise 1.8 percent to 57.25 riyals ** On Sunday it reported 0.65 percent rise in first-quarter net profit of 308.5 million riyals ($82.3 million); it made 306.5 million riyals in the year-earlier period. ** Five analysts polled by Reuters had forecast on average that Almarai would make a quarterly profit of 302 million riyals. ** Riyad Capital has rated the stock a "hold" with a target price of 53.00 riyals and JP Morgan also assigned the dairy giant a "neutral" but with a tar
  
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• Wall Street Weekahead: Suffering bank investors search for bright spots

  10-04-2016 08:31 via news.yahoo.com
  
  Four of the S&P 500's top-weighted banks, J.P. Morgan Chase, Wells Fargo, Bank of America and Citigroup, are set to report grim first-quarter revenues and profits starting on Wednesday. The financials have been the worst performing S&P 500 sector this year, down 8 percent as the broader S&P 500 is flat. "We think banks are about as low as they can go," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
  
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• G20 pact does not rule out Japan intervention - Japan's Suga

  10-04-2016 08:11 via news.yahoo.com
  
  By Stanley White and Takashi Umekawa TOKYO (Reuters) - Japan's top government spokesman said the Group of 20's agreement to avoid competitive currency devaluation does not mean Japan cannot intervene in response to one-sided currency moves. The Bank of Japan and the government are tensely watching currency markets and the government is prepared to take appropriate steps as needed, Chief Cabinet Secretary Yoshihide Suga told Reuters, but declined to comment on what steps the government was consid
  
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