Analyst news

• Fed jitters and oil pull Wall Street lower; Apple rallies

  14-09-2016 22:54 via news.yahoo.com
  
  Wall Street edged lower on Wednesday as investors stewed about future interest rate hikes and cheaper oil dragged down energy shares, although Apple surged to its highest level this year. Speculation about the timing of the Federal Reserve's next interest rate hike has shaken major stock indexes following contrasting comments from Fed officials. The S&P 500 remains down almost 3 percent from before a steep selloff on Friday, even though interest rate futures indicate expectations for a rate
  
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• AUD/USD to Face Employment Report- Outlook Constructive Above 0.7380

  14-09-2016 21:26
  Aussie is approaching a critical support confluence ahead of key data tonight. Here are the updated targets & invalidation levels that matter heading into the release.
  
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• US DOLLAR Technical Analysis: Understanding 3M LIBOR’s 7-Yr High

  14-09-2016 21:25
  The global borrowing cost reference rate has increased 170% over the last year from 0.3151 to a 7-year high this week of 0.8557. Here’s what that could mean?
  
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• UPDATE 2-Monte dei Paschi appoints Marco Morelli as new CEO

  14-09-2016 21:18
  
  * Must raise 5 bln euros as part of emergency rescue plan(Recasts with statement)
  
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• Wells Fargo’s CEO: The Buck Stops With My Workers

  14-09-2016 21:17 via news.yahoo.com
  
  Wells Fargo CEO John Stumpf will get grilled by the Senate Banking Committee next week about what the government has described as the bank’s “widespread illegal practice of secretly opening unauthorized deposit and credit card accounts” for customers. With public and political outrage still radiating after the bank got hit last week with $185 million in fines for opening more than 2 million sham accounts, Stumpf has started to tease out his defense in an interview with The Wall
  
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• USD/CHF Technical Analysis: The Range within the Range

  14-09-2016 21:07
  Over the past six months a rather consistent range has developed in USD/CHF. But over the past four trading days, a shorter-term, choppier range has developed that traders may want to eschew in favor of the longer-term formation.
  
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• Fed jitters and oil pressure Wall Street; Apple rallies

  14-09-2016 20:51 via news.yahoo.com
  
  Wall Street edged lower on Wednesday as investors focused on future interest rate hikes and as cheaper oil dragged down energy shares, although Apple surged to its highest level this year. Speculation about the timing of the Federal Reserve's next interest rate hike has shaken major stock indexes since last Friday following contrasting comments from Fed officials. The S&P 500 remains down almost 3 percent from before Friday's steep selloff, even though interest rate futures indicate expectat
  
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• China’s Market News: Offshore Yuan Borrowing Cost Jumps Ahead of Chinese Holiday

  14-09-2016 20:30
  A weaker Yuan fix and a soaring HIBOR add mixed moves to the offshore Yuan rate.
  
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• GBP/USD Technical Analysis: Bullishly Adhering to Fibonacci Structure

  14-09-2016 20:06
  The Cable continues to show a bullish tonality with adherence to Fibonacci structure built on the post-Brexit move in the pair.
  
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• iPhone optimism blasts Apple stock to 2016 high

  14-09-2016 19:39 via news.yahoo.com
  
  Apple's stock hit a 2016 high on Wednesday, with its market value peaking above $600 billion for the first time since April as Wall Street bet the technology company's newest iPhone would help shore up falling sales. Fueled by U.S. wireless carriers' reports of strong early orders for the iPhone 7 as well as arch-rival Samsung Electronics' widely-publicized recall of potentially exploding Galaxy Note 7 smartphones, shares of Apple were up 4.6 percent at $112.57 and had gained 7 percent in the pa
  
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• GBP/JPY & BoE: Weakness to Be Viewed as Opportunity

  14-09-2016 19:26
  GBP/JPY is holding within a near-term bearish technical formation ahead of the BoE. Here are the updated targets & invalidation levels that matter.
  
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• Waste giant Biffa recycles plan to raise £300m in London float

  14-09-2016 19:16 via news.yahoo.com
  
  One of Britain's biggest waste disposal companies will this week unveil plans to raise up to £300m from a flotation that will be the City's largest since the UK's vote to leave the European Union. Sky News has learnt that the board of Biffa has signed off on plans to announce a stock market listing on Thursday valuing the company at more than £1bn. City sources said that Biffa planned to raise between £250m and £300m from its initial public offering, which is expected to
  
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• GBP/JPY Technical Analysis: Bending Support Above the Brexit Low

  14-09-2016 19:09
  With Central Bank meetings from both the U.K. and Japan on the docket for the next week, this pair is likely to see some volatility. Buckle up.
  
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• Apple leads rebound on Wall Street

  14-09-2016 19:03 via news.yahoo.com
  
  Apple rose as much as 4.7 percent to $113.03 and was the top percentage gainer on the S&P and the Dow on reports of strong demand and positive reviews for the new iPhones. The bounce in U.S. stocks on Wednesday extended the oscillating trend, that started on Friday, due to contrasting comments from Federal Reserve officials on whether the central bank would raise interest rates at its Sept. 20-21 meeting. "With a seasonal backdrop, high valuations and concerns over disparate monetary policie
  
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• EUR/USD Breaks to New Weekly Highs

  14-09-2016 18:45
  The EUR/USD has broken above resistance to push the pair to new weekly highs.
  
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• Ford to move all small-car production to Mexico from U.S.: CEO

  14-09-2016 18:41 via rocketnews.com
  
  By Bernie Woodall and David Shepardson
  (Reuters) – Ford Motor Co Chief Executive Officer Mark Fields said on Wednesday that all of the company’s small-car production will be leaving U.S. plants and heading to lower-cost Mexico.
  “We will have migrated all of our small-car production to Mexico and out of the United States,” over the next two to three years, Fields told Wall Street analysts at an investor conference hosted by the automaker.
  Earlier this year, Ford said it w
  
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• UPDATE 2-Mylan CEO to testify before House panel over EpiPen pricing

  14-09-2016 18:38
  
  WASHINGTON, Sept 14 (Reuters) - Mylan NL Chief
  Executive Officer Heather Bresch will appear at a Sept. 21
  congressional hearing over price increases for its EpiPen
  emergency allergy treatment, the...
  
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• Sarepta jumps on drug approval hopes after FDA critic departs

  14-09-2016 18:27
  
  Sept 14 (Reuters) - Shares of Sarepta Therapeutics Inc
  rose as much as 29 percent after a key critic of its
  muscle-wasting drug left the U.S. Food and Drug Administration
  ahead of the agency's...
  
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• EUR/JPY Technical Analysis: Ranging within Fibonacci Structure

  14-09-2016 18:26
  EUR/JPY broke out of its prior range just to move into another range; but with the BoJ on deck for next week, how long might this new range last?
  
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• CHF/JPY Cornered Between The 61.8% And The 50% Fibonacci Retracement

  14-09-2016 18:20
  After Brexit, CHF/JPY failed to pose a new low. CHF/JPY getting closer to resistance inside channel line. Price action confined over the last three months between Fibonacci retracements.
  
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• Ford confirms small car production moving from US to Mexico

  14-09-2016 18:11 via news.yahoo.com
  
  Ford Motor Co. says it's moving all of its U.S. small car production to Mexico. Ford CEO Mark Fields confirmed the long-expected move Wednesday during an event for investors and Wall Street analysts. Ford ...
  
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• Impressive 2Q New Zealand GDP Report to Fuel NZD/USD Advance

  14-09-2016 18:10
  New Zealand’s 2Q Gross Domestic Product (GDP) report may fuel a larger advance in NZD/USD especially as the pair fails to test the monthly low (0.7226).
  
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• Britain's FTSE ends slightly higher, miners lead

  14-09-2016 17:55
  
  LONDON, Sept 14 (Reuters) - Britain's top shares index
  closed slightly higher on Wednesday, breaking a three-day losing
  run, as firmer mining stocks enabled the market to recover some
  ground.
  
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• US S&P 500 Shows Clear Risk of Turn Lower

  14-09-2016 17:50
  Retail CFD traders have significantly scaled back short positions on the SPX500, which tracks the US S&P 500. A contrarian view of ‘crowd’ sentiment warns stocks may be at a major turning point.
  
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• Euro Sticks to Key Range for Now – Here’s What We’re Watching

  14-09-2016 17:50
  Retail FX traders remain short the Euro versus the US Dollar and have remained short since the pair traded above the $1.10 mark through late July. A contrarian view of ‘crowd’ sentiment continues to call for further EUR/USD gains.
  
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• Clear Signs of Danger for US Dollar and Stocks - What to Watch Next

  14-09-2016 17:50
  Retail traders have shifted gears on the US Dollar and the US S&P 500. Here are the key reasons we thing the Greenback and stock markets are a near a major turning point.
  
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• British Pound Looks likely to Hold Key Support

  14-09-2016 17:50
  Retail FX traders are once again net-long the British Pound versus the US Dollar, and a contrarian view of ‘crowd’ sentiment points to further weakness.
  
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• UPDATE 5-Bayer clinches Monsanto with improved $66 billion bid

  14-09-2016 17:35
  
  * Bayer says expects deal to close by end-2017(Adds detail on regulatory hurdles, executive comments, updates
  shares)
  
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• Wall Street rises on Apple-led tech gains

  14-09-2016 17:31 via news.yahoo.com
  
  U.S. stocks have swung wildly since Friday on contrasting comments from Federal Reserve officials on whether the central bank would raise interest rates at its Sept. 20-21 meeting. "With a seasonal backdrop, high valuations and concerns over disparate monetary policies by central banks, it will likely remain a choppy environment," said Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank in New York. The CBOE Market Volatility index , known as Wall Street's fear gaug
  
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• Retail AUD/USD Positioning Shifts- Outlook Turns Increasing Bearish

  14-09-2016 16:56
  The broader outlook for AUD/USD is turning increasingly bearish as it fails to preserve the upward trend carried over from May, with the pair carving a near-term top.
  
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• Wall Street flat as Apple-led tech gains offset energy losses

  14-09-2016 16:51 via news.yahoo.com
  
  Wall Street was little changed on Wednesday as gains in technology stocks, led by Apple, were offset by a decline in energy stocks on the back of lower oil prices. Apple was up 1.6 percent, giving the three major indexes their biggest boost and rising for the third day in a row on reports of strong demand for the new iPhones. "The market is preparing for the worst, which is a rate hike in the U.S., and hoping for the best," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville,
  
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• An Irish billing software firm has been snapped up by a Nasdaq-listed company

  14-09-2016 16:50 via news.yahoo.com
  
  Brite:Bill and two other companies were acquired in a deal worth roughly $260 million.
  
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• MIDEAST STOCKS-Egypt drops in holiday-thinned trade

  14-09-2016 15:57 via news.yahoo.com
  
  DUBAI, Sept 14 (Reuters) - Egypt's stock market fell in very thin trade on Wednesday with many investors absent for Eid al-Adha holidays, while bourses in the Gulf stayed closed. The Egyptian index dropped 0.7 percent in its lowest daily trading volume this year, as the market reopened after being shut for three days. Since Egypt last traded, MSCI's emerging market index had slipped 4.6 percent. Eight of the 10 most heavily traded Egyptian stocks fell on Wednesday with Global Telecom losing 1.7
  
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• Gold Prices Channel Deeper into Bull Flag Formation

  14-09-2016 15:51
  Gold prices are consolidating another bullish run to further the 2016 reversal. But with a pivotal FOMC meeting just around the corner, is Goldon the cusp of another run of higher prices?
  
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• Mylan CEO to testify before U.S. House over EpiPen pricing -lawmakers

  14-09-2016 15:43
  
  WASHINGTON, Sept 14 (Reuters) - Mylan NL Chief
  Executive Officer Heather Bresch will appear at a Sept. 21
  congressional hearing over price increases for its allergy
  auto-injector EpiPen, the U.S....
  
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• CAC 40 Declines Under 4,400

  14-09-2016 15:30
  The CAC 40 continues to decline under the critical 4,400 level.
  
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• Allergan to buy experimental psoriasis drugmaker Vitae for $639 mln

  14-09-2016 14:49
  
  NEW YORK, Sept 14 (Reuters) - Allergan Inc on
  Wednesday said it would buy Vitae Pharmaceuticals,
  which is testing an experimental drug to treat psoriasis and
  other autoimmune disorders, for $639...
  
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• USDOLLAR Index Trapped in Range as YC Flattens, Fed Odds Ease

  14-09-2016 14:30
  The USDOLLAR Index needs a driver to get out of its sideways move - data ahead of the September 21 FOMC meeting may provide a spark.
  
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• S&P 500 – Rare Oversold Reading, Search for Support Is On

  14-09-2016 14:24
  S&P has yet to find firm footing, but conditions are getting ripe for a tradeable low when it does...
  
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• Golfsmith International may file for Chapter 11 as early as Wednesday: WSJ

  14-09-2016 14:24 via rocketnews.com
  
  (Reuters) – Specialty golf retailer Golfsmith International Inc plans to file for Chapter 11 bankruptcy and creditor protection in Canada as early as Wednesday, the Wall Street Journal reported, citing people familiar with the matter.
  The restructuring plan of the company includes store closures in the U.S. and the sale of its Canadian retail chain, according to the Journal report.
  The creditor protection filings include an agreement to sell its Canadian chain Golf Town, to CI Financial C
  
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• Wall Street banks need fundamental business model shift, McKinsey says

  14-09-2016 14:05 via news.yahoo.com
  
  McKinsey & Co on Wednesday released an annual report about banks, saying Wall Street firms continue to suffer from weak profits, high costs and strategic uncertainty. The top 10 global banks in particular are struggling to adapt to the post-financial crisis environment, as they grapple with high operating costs, low interest rates and the key fixed income trading business under revenue pressure. Capital market and investment banking revenues have declined for the top 10 banks since 2012 by 1
  
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• Communications company Sepura warns on FY adj. core profit

  14-09-2016 13:52
  
  Sept 14 (Reuters) - British communications company Sepura
  Plc said its full-year adjusted core profit could be 60
  percent lower than its previous expectations, hurt by lower
  order intake.
  
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• Bond sell-off keeps investors on edge

  14-09-2016 13:41 via news.yahoo.com
  
  Rising bond yields, triggered in part by deepening worries over the difficulty of the world's major central banks to stimulate growth, kept investors in broadly risk-off mode on Wednesday. Stock futures on Wall Street were up 0.1 percent following Tuesday's swoon. Euro zone bond yields rose across the board after European Central Bank Executive Board member Sabine Lautenschlaeger said the central bank should hold off on new monetary easing measures.
  
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• Pure Gym to raise £190m on London Stock Exchange

  14-09-2016 13:28 via news.yahoo.com
  
  Britain's biggest gym chain plans to raise £190m (€223m) to help fund expansion by listing on the London Stock Market. Budget chain Pure Gym has 163 outlets and more than 780,000 members, who on average pay under just £20 a month. The firm was founded by health club veteran and executive chairman Peter Roberts, who launched its first two gyms in Manchester and Leeds in November 2009.
  
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• Alan Kelly's brother Declan is in line for windfall as Teneo eyes $1bn stock market float

  14-09-2016 12:45 via news.yahoo.com
  
  Teneo Holdings, which provides advice to the wealthy and powerful, has ties to the Clintons.
  
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• Thai CEO challenges regulator's first executive penalty since insider trading scandal

  14-09-2016 12:16 via news.yahoo.com
  
  A brokerage CEO has become the first ever executive to challenge a penalty imposed by Thailand's stock market regulator, in the first disciplinary case involving an executive since an insider trading scandal prompted calls for stricter market oversight. Apple Wealth Securities Chief Executive Prasit Srisuwan denied wrongdoing after the Securities and Exchange Commission (SEC) said it had banned him from working at any securities firm for two years due to lax client supervision. The case comes af
  
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• GBP/USD Slightly Higher on Resilient UK Employment Figures

  14-09-2016 11:19
  The British Pound was slightly higher versus other majors after UK employment data printed mixed figures, labor market looks resilient
  
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• UK's FTSE recovers from losing streak, led by mining shares

  14-09-2016 10:47
  
  LONDON, Sept 14 (Reuters) - Britain's top shares index rose
  on Wednesday, breaking off from a three-day losing run, as
  firmer mining stocks enabled the market to recover some ground.
  
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• FTSE 100: Risk Skewed Downward Ahead of BoE

  14-09-2016 10:25
  FTSE broke support and trend structure, BoE slated for tomorrow.
  
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• China denies aluminium exports evading U.S. duties

  14-09-2016 10:23 via news.yahoo.com
  
  A Chinese industry group has denied that the country's aluminium producers could be involved in exporting extrusion products via Mexico to circumvent U.S. duties, in the latest sign of bubbling trade tensions between the two nations. A report by the Wall Street Journal last week cited U.S aluminium executives contending that some $2 billion worth of Chinese metal products had been stockpiled in Mexico as part of a scheme to re-export to the United States, which imposes heavy duties on Chinese pr
  
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