Analyst news

• Oil rallies on OPEC deal; energy leads Wall Street higher

  28-09-2016 22:37 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Oil prices rallied on Wednesday after members of the Organization of the Petroleum Exporting Countries reached an agreement on a production-limiting deal, boosting energy sector shares. Norway, although not an OPEC member, is a major crude producer. Crude oil prices jumped after sources told Reuters that OPEC agreed to reduce its oil output by about 750,000 barrels per day.
  
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• Oil Rallies and USD/CAD Tanks As OPEC Announces Output Cap Plans

  28-09-2016 22:30
  US Crude Oil prices rallied and the Canadian Dollar strengthened on news of a supposed OPEC agreement to freeze production in November.
  
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• Oil rallies on OPEC output deal; energy stocks lift Wall Street

  28-09-2016 21:41 via news.yahoo.com
  
  By Rodrigo Campos NEW YORK (Reuters) - Oil prices rallied on Wednesday after OPEC members reached an agreement on a production-limiting deal, boosting energy sector shares. Norway, although not an OPEC member, is a major crude producer. Crude oil prices jumped after sources told Reuters that the Organization of the Petroleum Exporting Countries agreed to reduce its oil output by about a million barrels per day.
  
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• EUR/JPY Technical Analysis: Another Test of Confluent Support

  28-09-2016 21:15
  EUR/JPY is continuing to catch support near a confluent batch of Fibonacci levels in the 112-region; but will the longer-term, bigger picture channel come into play before support can respond?
  
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• Wall Street rallies as OPEC reaches output deal

  28-09-2016 21:08 via news.yahoo.com
  
  The energy index jumped 4 percent and was set to have its best day since January after OPEC sources said the group has reached a deal to limit crude output at its policy meeting in November. "The energy sector has been the biggest drag on earnings for the past year and a half or two years, and if you can get some stability there, all of a sudden earnings start to look a lot better," said Mark Kepner, managing director at Themis Trading in Chatham, New Jersey. Shares of Caterpillar Inc, which sel
  
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• Wall Street reverses loss, gains on oil rally

  28-09-2016 20:47 via news.yahoo.com
  
  Wall Street reversed losses and moved modestly higher on Wednesday as a rally in oil more than offset nervousness about a tight race for the U.S. presidency. Chevron climbed 2.5 percent and Exxon Mobil gained 4.66 percent. At 2:22 pm ET, the Dow Jones industrial average was up 0.38 percent to 18,297.06 points and the S&P 500 had gained 0.29 percent to 2,166.1.
  
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• GBP/JPY Technical Analysis: Three Strikes of Support

  28-09-2016 20:35
  GBP/JPY has fallen down to a familiar level of support, with the last two instances of price action in this zone seeing rallies of over 1,300 pips and 970 pips respectively.
  
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• Gold Prices Rebound After Yellen’s Testimony Concludes

  28-09-2016 20:15
  Gold prices are rebounding from their daily lows as Yellen concludes her testimony before Congress.
  
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• USD/CHF Technical Analysis: Range within a Range, part 2

  28-09-2016 19:49
  The Swissy is fairly directionless, just as it was last month and the month before. But that may not be a 'bad' thing.
  
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• China’s Market News: PBOC Steadies Guidance on Yuan ahead of SDR Entry

  28-09-2016 19:38
  China’s Central Bank signals intention to stabilize Yuan rates before the currency’s official SDR inclusion.
  
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• Wall Street drops as health, financials weigh

  28-09-2016 19:14 via news.yahoo.com
  
  Wall Street was lower on Wednesday as health stocks weighed and financials fell after Federal Reserve Chair Janet Yellen said the central bank was considering changes to the annual stress test. Yellen said the Fed was looking at a more risk-sensitive, firm-specific approach to the test that would raise capital requirements for big U.S. banks based on their test results. Shares of JPMorgan, Bank of America and Citigroup were down between 0.2-0.5 percent.
  
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• GBP/USD Technical Analysis: Higher-Lows in Post-Brexit Range

  28-09-2016 19:03
  The British Pound is working with a major psychological level right now at 1.3000, but are the higher-lows of July and August trying to tell us something?
  
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• AUD/USD Stuck in Holding Pattern; NZD/USD Bearish Pattern Persists

  28-09-2016 18:06
  AUD/USD may continue to consolidate within a narrow range as the pair appears to have made a failed attempt to test the monthly opening range.
  
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• Wall Street drops as healthcare stocks weigh

  28-09-2016 17:56 via news.yahoo.com
  
  U.S. stocks reversed course to trade lower in a choppy market on Wednesday, dragged down by healthcare stocks and as oil prices pared gains. Bristol-Myers and Amgen weighed the most on the S&P 500 healthcare sector, which fell 0.45 percent. Oil prices, which rallied as much as 3 percent earlier in the day, gave up much of those gain as data showed a large build in U.S. gasoline inventories.
  
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• Forbes pegs Trump's wealth at $3.7 billion, $800 million less than last year

  28-09-2016 17:50 via news.yahoo.com
  
  U.S. Republican presidential nominee Donald Trump's estimated net worth is $3.7 billion (£2.8 billion), $800 million less than a year ago, Forbes magazine reported on Wednesday, attributing the loss largely to New York's softening real estate market. The magazine probed 28 assets or asset classes owned by the New York businessman and found 18 had declined in value, including Trump Tower in Manhattan and his Mar-a-Lago club in Palm Beach, Florida. The value of his 40 Wall Street property in
  
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• Wall Street rises as energy, financial stocks gain

  28-09-2016 15:59 via news.yahoo.com
  
  Yellen's testimony will be watched for clues on the timing of the next interest rate hike, a week after the central bank held rates steady but suggested that a move could come later this year. Minneapolis Fed President Neel Kashkari said the central bank could keep rates low for a while as inflation remains weak. Investors are also awaiting comments from Fed officials including voting members Esther George, James Bullard and Loretta Mester, who will be speaking at separate events.
  
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• MIDEAST STOCKS-Saudi leads region down on weak oil, austerity steps

  28-09-2016 15:39 via news.yahoo.com
  
  * Saudi index at lowest close since Jan. 21 * Petrochemical stocks hit by oil price disappointment * Austerity threatens shares favoured by retail investors * Some telcos, utilities outperform as defensive stocks * Egypt's Kabo surges after annual earnings By Andrew Torchia DUBAI, Sept 28 (Reuters) - Saudi Arabia's stock market fell sharply for a second straight day on Wednesday, leading the entire region down, in response to weak oil prices and government austerity measures. The Saudi equities
  
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• Swiss Exchange confident of post-Brexit access to EU stock market

  28-09-2016 15:36 via news.yahoo.com
  
  By Huw Jones LONDON (Reuters) - The SIX Swiss Exchange said on Wednesday it was confident it can continue serving investors in the European Union without having to set up a new exchange after Britain exits the EU. Switzerland is not part of the EU and currently serves customers in the bloc from a base in London. With Britain leaving the EU, it has to find another way of linking up with its continental European customers.
  
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• India selling 7 percent stake in miner Hindustan Copper

  28-09-2016 15:33 via news.yahoo.com
  
  India is selling a 7 percent stake in state-run Hindustan Copper Ltd in stock market deals over two days to Friday, potentially raising the government 4.02 billion rupees ($60.5 million). The government, which owns almost 90 percent of the miner, is selling 64.7 million shares, and has set a floor price of 62 rupees apiece, according to a regulatory filing. The sale is part of the government's asset sale plan to raise funds to help plug its deficit.
  
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• Price Action Setups for a Meandering Dollar

  28-09-2016 15:20
  The US Dollar has spent much of 2016 building into a longer-term symmetrical wedge pattern. With Five Fed speakers on the docket for today, might markets find enough innuendo to run?
  
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• US Dollar May See Some Turbulence with 5 Fed Speakers Today

  28-09-2016 14:17
  While four FOMC voting members are speaking today (and one non-voter), there are only two that are really worth paying attention to.
  
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• Silver Prices Looking to Hold Support, Monitoring Gold Closely

  28-09-2016 14:01
  Silver dove down into support area, looking for a hold along with gold.
  
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• US Dollar May Rise as Hawkish Fed Comments Boosts Rate Hike Bets

  28-09-2016 12:02
  The US Dollar may rise as hawkish comments from Fed Chair Yellen and other central bank officials fuel December interest rate hike speculation.
  
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• 'Sell in May and go away?' Not this year, as stocks power ahead in Q3

  28-09-2016 11:51 via news.yahoo.com
  
  By Jamie McGeever LONDON (Reuters) - Investors following the stock market maxim "Sell in May and go away" will be ruing that decision this year, after emerging market, Japanese and euro zone equities emerged as the biggest winners in the third quarter. There are signs that the coming quarters may not be as robust, but for the third, the prospect of central banks keeping the stimulus taps open for longer following Britain's shock decision in June to leave the European Union boosted investors' ris
  
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• 'Sell in May and go away'? Not this year, as stocks power ahead in third quarter

  28-09-2016 11:37 via news.yahoo.com
  
  By Jamie McGeever LONDON (Reuters) - Investors following the stock market maxim "Sell in May and go away" will be ruing that decision this year, after emerging market, Japanese and euro zone equities emerged as the biggest winners in the third quarter. There are signs that the coming quarters may not be as robust, but for the third, the prospect of central banks keeping the stimulus taps open for longer following Britain's shock decision in June to leave the European Union boosted investors' ris
  
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• S&P sees slowdown but no recession for UK and euro zone after Brexit

  28-09-2016 10:46 via news.yahoo.com
  
  Britain and the euro zone will avoid a recession but face slower economic growth as a result of the decision by British voters to leave the European Union, ratings agency Standard & Poor's said on Wednesday. The Bank of England's decision to expand its bond-buying programme had calmed the British gilt market and S&P expected the country's housing market would have only a "soft landing" because of low interest rates. S&P said it expected British economic growth of 1.8 percent this yea
  
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• Global stocks have mixed performance after Wall Street gains

  28-09-2016 10:46 via news.yahoo.com
  
  Global stock markets were mixed Wednesday after Wall Street gained and investors were reassured by trade-friendly Hillary Clinton's performance in a U.S. presidential debate against Donald Trump. KEEPING ...
  
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• FTSE 100: Bullish Pattern Could Emerge

  28-09-2016 10:38
  UK stocks could rally if a certain pattern-type fully develops.
  
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• Gold Prices Drop on Easing Deutsche Bank Jitters, Fed-Speak in Focus

  28-09-2016 10:18
  Gold prices fell as Deutsche Bank shares recovered, seemingly reflecting ebbing credit risk. Hawkish Fed commentary may compound selling pressure.
  
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• Dismal U.S. Durable Goods Report to Spark EUR/USD Rebound

  28-09-2016 10:00
  A marked slowdown in demand for U.S. Durable Goods may spark a near-term rebound in EUR/USD as signs of a slowing recovery drag on interest-rate expectations.
  
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• Most Asian markets slip amid Europe bank woes

  28-09-2016 09:12 via news.yahoo.com
  
  Most Asian stock market indices were trading lower on Wednesday (28 September), with the Shanghai Composite down 0.25% at 2,990.73 as of 6.08am GMT. This was despite a positive Wall Street close overnight.
  
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• UK's Ofgem tells bidders for National Grid gas networks earnings not guaranteed - SSE

  28-09-2016 08:55 via news.yahoo.com
  
  (Reuters) - UK energy regulator Ofgem told potential buyers of a majority stake in National Grid's four gas networks and part of utility SSE's SGN network on Wednesday that price controls for the period after 2021 have not yet been set, SSE said. Ofgem is reminding bidders that any premium they pay above existing values may not be compensated when Ofgem sets the new price control, SSE said in a statement. Hong Kong billionaire Li Ka-Shing's Cheung Kong Infrastructure Holdings Ltd is preparing a
  
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• UK's Ofgem tells bidders for National Grid gas networks earnings not guaranteed – SSE

  28-09-2016 08:55 via rocketnews.com
  
  (Reuters) – UK energy regulator Ofgem told potential buyers of a majority stake in National Grid’s four gas networks and part of utility SSE’s SGN network on Wednesday that price controls for the period after 2021 have not yet been set, SSE said.
  Ofgem is reminding bidders that any premium they pay above existing values may not be compensated when Ofgem sets the new price control, SSE said in a statement.
  Hong Kong billionaire Li Ka-Shing’s Cheung Kong Infrastructure Hol
  
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• Asia stocks inch up after Wall Street's gains, oil prices slide

  28-09-2016 02:40 via rocketnews.com
  
  By Shinichi Saoshiro
  TOKYO (Reuters) – Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices.
  MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> rose 0.1 percent.
  Australian stocks <.AXJO> were up 0.5 percent while South Korea’s Kospi <.KS11> was flat. Japan’s Nikkei <.N225> was
  
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