Analyst news

• Wall Street stocks retreat, oil tumbles on oversupply concerns

  24-08-2016 23:38 via news.yahoo.com
  
  By Hilary Russ NEW YORK (Reuters) - Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0 percent on worries about oversupply. Mylan slumped 5.4-percent to $43.15 after U.S. presidential candidate Hillary Clinton joined a Senate committee in asking why the cost of its allergy treatment EpiPen had soared. Gold fell to a one-month low as the U.S. dollar firmed and markets looked ahead to a speech by Federal Reserve Chair Janet Yellen
  
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• Wall St. falls as healthcare, materials stumble

  24-08-2016 22:20 via news.yahoo.com
  
  By Chuck Mikolajczak NEW YORK (Reuters) - Wall Street retreated on Wednesday, pulled lower by weakness in the materials and healthcare sectors as investors continued to weigh the possibility of an interest rate hike in the coming months. The market is awaiting Federal Reserve Chair Janet Yellen's speech in Jackson Hole, Wyoming, on Friday for insight on the direction of monetary policy. Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectat
  
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• Wall St. declines as healthcare, materials lag

  24-08-2016 20:42 via news.yahoo.com
  
  Wall Street retreated on Wednesday, pulled lower by declines in the materials and healthcare sectors as investors continued to assess the possibility of an interest rate hike in the coming months. The market is awaiting Federal Reserve Chair Janet Yellen's speech in Jackson Hole, Wyoming, on Friday for insight on the direction of monetary policy. Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal a hike in S
  
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• EUR/JPY Technical Analysis: Sticking to the Range

  24-08-2016 20:40
  After seeing aggressive Yen strength leading into August, EUR/JPY has built-in to a fairly consistent range over the past few weeks.
  
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• USD/JPY Risks Further Losses as FX Sentiment Holds Near 2016 Extreme

  24-08-2016 20:08
  USD/JPY stands at risk for further losses especially as retail positioning remains stretched, with FX sentiment holding near the 2016 extreme.
  
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• China’s Market News: PBOC Tweaks Short-Term Credit Strategy

  24-08-2016 19:12
  China’s Central Bank added liquidity through 14-day reverse repos, the first time in six months.
  
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• Defensive stocks take Wall Street lower ahead of Fed

  24-08-2016 19:03 via news.yahoo.com
  
  The market is awaiting Federal Reserve Chair Janet Yellen's speech in Jackson Hole, Wyoming on Friday when she is expected to give a steer on the direction of monetary policy. Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal a hike in September. The bigger decliners were utilities , consumer staples and telecom services , defensive sectors that have led Wall Street's rally this year as expectations of a ra
  
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• US Dollar at Risk of Further Losses until this Changes

  24-08-2016 19:00
  Retail FX traders are heavily long the US Dollar versus the Euro, British Pound, and Japanese Yen. Is there any reason to expect it won’t continue lower?
  
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• US S&P 500 Looks to Rally Even Further

  24-08-2016 18:55
  Retail CFD traders remain extremely net-short the SPX500, which tracks the fair value of the S&P E-mini futures contract, and a contrarian view of ‘crowd’ sentiment has kept us firmly bullish.
  
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• US Dollar Remains a Sell versus Japanese Yen

  24-08-2016 18:55
  Retail FX traders remain extremely long the US Dollar versus the Japanese Yen, and a contrarian view of crowd positioning acts as signal the USD/JPY may continue lower.
  
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• Euro Forecast to Strengthen Further versus US Dollar

  24-08-2016 18:55
  Retail FX traders remain heavily short the Euro versus the US Dollar as nearly two-thirds of all trades in our sample are currently short.
  
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• British Pound Looks Likely to Rally Further

  24-08-2016 18:55
  Retail FX traders are now net-short the British Pound versus the US Dollar for the first time since the pair set a key top near the $1.33 mark, and a contrarian view of ‘crowd’ sentiment leads us to watch for further GBP/USD gains.
  
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• Britain's FTSE underperforms European peers, miners hinder

  24-08-2016 18:16
  
  LONDON, Aug 24 (Reuters) - Britain's blue-chip share index
  retreated on Wednesday, underperforming its European peers, as a
  sharp drop in metals prices put pressure on the mining sector
  and South...
  
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• US DOLLAR Technical Analysis: Dollar Bid on Jackson Hole Hope

  24-08-2016 18:00
  Janet Yellen will speak on Friday morning about the Fed’s Monetary Policy Toolkit as the US DOLLAR sits in the Crosshairs.
  
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• UPDATE 1-Pharmacy manager PharMerica explores possible sale -sources

  24-08-2016 17:58
  
  Aug 24 (Reuters) - PharMerica Corp, a U.S. pharmacy
  manager for long-term care facilities, is exploring strategic
  alternatives including a potential sale, according to people
  familiar with the matter.
  
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• Wall Street hit as defensive stocks drop ahead of Fed

  24-08-2016 17:40 via news.yahoo.com
  
  The market is squarely focused on Federal Reserve Chair Janet Yellen's speech at Jackson Hole, Wyoming on Friday when she is expected to give a steer on the direction of monetary policy. Recent hawkish comments from some Fed officials, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal a hike in September. The bigger decliners were utilities , consumer staples and telecom services , defensive sectors that have led Wall Street's rally this year as expectati
  
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• Express Inc's shares tumble as results miss amid apparel cheer

  24-08-2016 16:47
  
  Aug 24 (Reuters) - Express Inc lost more than a
  quarter of its market value on Wednesday as its
  lower-than-expected results belied a recent uptick in apparel
  sales that has helped most retailers.
  
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• GBP/USD Technical Analysis: Cable Poses a Bullish Run

  24-08-2016 16:15
  Retail traders are continuing to try to sell the Sterling despite the aggressive rip-higher over the past week. Price action appears to be nearing an important 'decision point' at the 1.3371 level.
  
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• Wall Street flat, with all eyes on Fed

  24-08-2016 15:57 via news.yahoo.com
  
  Wall Street was little changed on Wednesday morning as investors played a waiting game ahead of Federal Reserve Chair Janet Yellen's speech on Friday for clues on the timing of an interest rate hike. Yellen's keynote speech will be the main focus of a meeting of global central bankers in Jackson Hole, Wyoming. The meet, which starts Thursday, has traditionally been used by Fed chiefs as a platform to signal the direction of monetary policy.
  
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• Wall Street opens little changed as investors eye Fed

  24-08-2016 15:51 via news.yahoo.com
  
  (Reuters) - U.S. stocks were little changed at the open on Wednesday as investors kept up their wait for Federal Reserve Chair Janet Yellen's speech on Friday for clues on the timing of an interest rate hike.
  
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• Wall Street set to open flat as investors eye Fed

  24-08-2016 15:04 via news.yahoo.com
  
  Wall Street was set open little changed on Wednesday as investors kept up their wait for Federal Reserve Chair Janet Yellen's speech on Friday for clues on the timing of an interest rate hike. Yellen's keynote speech will be the main focus of a meeting of global central bankers in Jackson Hole, Wyoming. The meet, which starts Thursday, has traditionally been used by Fed chiefs as a platform to signal the direction of monetary policy.
  
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• Stocks futures set to open flat as investors eye Fed

  24-08-2016 14:53 via news.yahoo.com
  
  The meet, which starts Thursday, has traditionally been used by Fed chiefs as a platform to signal the direction of monetary policy. Recent hawkish comments from some Fed policymakers, including Vice Chairman Stanley Fischer, have raised expectations that Yellen might signal the possibility of a hike in September. Wall Street has been on a record-setting run – the Nasdaq hit a record intraday high on Tuesday – due to continued expectations for low rates, coupled with upbeat corporate
  
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• RBC's earnings exceed expectations as oil woes diminish

  24-08-2016 14:08 via news.yahoo.com
  
  By Matt Scuffham TORONTO (Reuters) - Royal Bank of Canada reported slightly higher-than-expected quarterly results on Wednesday after rising oil prices allowed it to set aside less money to cover energy companies' bad loans. RBC said its provision for credit losses had fallen 12 basis points to 0.24 percent of its total loans during the quarter, with most of the decline in the oil and gas sector. The bank also benefited from a strong performance from its wealth management and capital markets bus
  
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• RBC's earnings beat expectations as clients' oil woes diminish

  24-08-2016 13:08 via news.yahoo.com
  
  By Matt Scuffham TORONTO (Reuters) - Royal Bank of Canada on Wednesday reported third-quarter results which beat market expectations, with funds set aside to cover bad loans falling thanks to higher oil prices. RBC said its provision for credit losses had fallen to the equivalent of 0.24 percent of its total loans during the quarter, down 12 basis points, mainly due to lower provisions in the oil and gas sector. The bank also benefited from a strong performance from its wealth management and cap
  
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• GBP/USD Rally Presses On Resistance

  24-08-2016 13:06
  After trading to new weekly highs, the GBP/USD is approaching resistance at 1.3263.
  
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• DAX: New Leg Higher or Consolidation?

  24-08-2016 12:43
  Support levels are holding, but it is yet clear whether another immediate leg higher or consolidation phase is to follow.
  
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• China's CITIC Securities posts 58 pct fall in H1 profit

  24-08-2016 12:43 via news.yahoo.com
  
  CITIC Securities Co Ltd , China's biggest brokerage, said on Wednesday its first-half net profit fell 58.0 percent, hurt by lower stock prices and a volatile stock market that made investors cautious and curbed their trading. Net profit for the six months to June fell to 5.24 billion yuan ($787.82 million) from 12.47 billion yuan a year earlier, the company said on Wednesday. In its preliminary report, CITIC had said its brokerage business, securities investment business and credit transaction b
  
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• Global stocks ease, dollar holds ground as U.S. rate bets abound

  24-08-2016 12:38 via news.yahoo.com
  
  Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy. This uneasy balance helped push the U.S. yield curve, the difference between 10-year and two-year yields, to its flattest in a month. Asian and world stock indices succumbed to profit-taking after reaching one-year highs earlier this month, whi
  
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• RBC's third-quarter earnings beat market expectations

  24-08-2016 12:29 via rocketnews.com
  
  A Royal Bank of Canada (RBC) sign is seen outside of a branch in Ottawa, Ontario, Canada, May 26, 2016. REUTERS/Chris Wattie
  MoreTORONTO (Reuters) – Royal Bank of Canada on Wednesday reported third-quarter results which beat market expectations, with funds set aside to cover bad loans falling helped by higher oil prices.
  Like other Canadian lenders, RBC had seen a rise in loans to oil and gas companies that had turned sour due to declining energy prices.
  Canada’s biggest bank also be
  
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• Canada's RBC's third-quarter earnings beat market expectations

  24-08-2016 12:13 via news.yahoo.com
  
  TORONTO (Reuters) - Royal Bank of Canada on Wednesday reported third-quarter results which beat market expectations, benefiting from a strong performance from its wealth management and capital markets businesses. Canada's biggest bank said net income excluding one-off items was C$2.7 billion or C$1.72 per share, compared with C$1.66 the year before. Analysts on average expected earnings of C$1.70, according to Thomson Reuters I/B/E/S. (Reporting by Matt Scuffham; editing by Jason Neely)
  
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• World stocks ease, dollar holds ground as U.S. rate bets abound

  24-08-2016 10:58 via news.yahoo.com
  
  By Jamie McGeever LONDON (Reuters) - Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy. This uneasy balance helped push the U.S. yield curve, the difference between 10-year and two-year yields, to its flattest in a month. Asian and world stock indices succumbed to profit-taking after reaching o
  
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• Lumbering state companies become hot stock market bet

  24-08-2016 10:52 via news.yahoo.com
  
  By Manoj Rawal and Abhirup Roy MUMBAI (Reuters) - India's state-owned companies, from builders such as NBCC to oil firms such as Bharat Petroleum Corp Ltd, are attracting top investors as cheap valuations, improving earnings, and share buybacks make them stand out in an otherwise expensive market. Many of the biggest state-owned companies are in the oil and gas sector, which is benefiting handsomely from a government decision allowing them to set prices - effectively turning them into regular pr
  
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• FTSE 100 Tech Update: Constructively Declining into Support

  24-08-2016 10:37
  UK index falling back into support, lack of momentum so far constructive.
  
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• USD/CAD in Focus as Crude Oil Prices Edge Lower, Inventories Data Ahead

  24-08-2016 10:25
  The USD/CAD is trading near 1.29 while Crude Oil prices edge lower as we look ahead to the EIA inventory data later today
  
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• Stocks ease, dollar holds ground as U.S. rate bets abound

  24-08-2016 10:21 via news.yahoo.com
  
  By Jamie McGeever LONDON (Reuters) - Stocks slipped on Wednesday while the dollar continued to claw back last week's losses as investors grappled with the prospect of a U.S. interest rate increase in the months ahead coming amid continued uncertainty about the strength of the global economy. This uneasy balance helped push the U.S. yield curve, the difference between 10-year and two-year yields, to its flattest in a month. Asian and world stock indices succumbed to profit-taking after reaching o
  
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• Glencore earnings fall 13% to $4.02bn as company presses ahead with its turnaround plan

  24-08-2016 09:30 via news.yahoo.com
  
  Glencore, a miner and commodity trader, posted lower earnings but added its turnaround plan to cut debt through asset sales was on track. It said earnings in the first six months of its year tumbled 13% to $4.02bn (£3.05bn), with the firm suffering from softer commodity prices and lower production volumes as world trade slows. The Swiss-based group said it has sold $3.9bn of assets since last September as part of its recovery plan to reduce debt built up over years of expansion.
  
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• Asian markets trade mixed as US reports strong housing data

  24-08-2016 09:07 via news.yahoo.com
  
  While Asian stock market indices were trading mixed on Wednesday (24 August), the Shanghai Composite was down 0.02% at 3,089.00 as of 6.10am GMT, following a positive close overnight on Wall Street amid positive US housing data.
  
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• USD/CNH Technical Analysis: Focus Shifts to 6.7000 After Finding Support

  24-08-2016 07:23
  The USD/CNH broke above 6.6500 and managed to hold the level on a retest, potentially implying that focus could turn to 6.7000
  
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• ASX 200 Technical Analysis: Index Pushing to The Upside

  24-08-2016 07:02
  The ASX 200 is trading at possible resistance and a break higher could prove significant going forward
  
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• PRESS DIGEST - Wall Street Journal - Aug 24

  24-08-2016 06:55 via news.yahoo.com
  
  Aug 24 (Reuters) - The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy. - Two former Goldman Sachs Group traders snapped upbeaten-down mortgage bonds, wagering that unusual wording intheir contracts would net them millions when a bank settlementpaid out. http://on.wsj.com/2bdZ62x - The U.S. is considering providing military support forhundreds of Turkish-backed rebels massing at the border withSyria for a major
  
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• US Dollar May Rise Amid Pre-Positioning for Yellen Speech

  24-08-2016 06:18
  The US Dollar may rise, catching up to a hawkish shift in priced-in monetary policy expectations, ahead of a speech from Fed Chair Janet Yellen on Friday.
  
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• Crude Oil Prices Weigh Conflicting Cues Before OPEC Meeting

  24-08-2016 04:18
  Crude oil prices are torn between conflicting cues ahead of next month’s OPEC meeting as markets weigh the likelihood of a cartel-wide deal to boost prices.
  
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• Asia stocks cement gains after recent rally, oil slips

  24-08-2016 04:18 via news.yahoo.com
  
  By Saikat Chatterjee HONG KONG (Reuters) - Asian stocks consolidated recent gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid after a surprise build in U.S. crude stocks. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent in early trade. Japan's Nikkei rose 0.4 percent.
  
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• Asian stocks consolidate after Wall Street gains, oil slips

  24-08-2016 02:44 via news.yahoo.com
  
  By Saikat Chatterjee HONG KONG (Reuters) - Asian stocks consolidated a recent run of gains on Wednesday, helped by Wall Street's rise overnight, even as oil prices slid on trade data showing a surprise build-up in U.S. crude stocks. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 percent in early trades. It has risen more than 14 percent since late June to hit a 1-year high last week. Futures prices showed Australian shares were poised to edge higher on Wednesday while New Z
  
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• Crude Oil Price Spikes on Reports Iran, OPEC May Cooperate

  24-08-2016 00:22
  Crude oil prices spiked 2.6 percent following a report from Reuters that suggested that Iran may be on the verge of cooperating with other OPEC members on price support measures.
  
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