* Fletcher expects losses of NZ$600 million in building business* Chairman to step down* Shares fall more than 13 pct after trading halt lifts (Adds share market reaction)Feb 14 (Reuters) - New Zealand's biggest construction company Fletcher Building said on Wednesday that it expected its embattled commercial building unit to post a NZ$660 million ($480.22 million) loss in fiscal 2018, causing its...Read More
WASHINGTON, Feb 13 (Reuters) - The White House has spoken with Loretta Mester, the president of the Federal Reserve Bank of Cleveland, about the vice chair opening at the Federal Reserve Board, a person familiar with the process said on Tuesday.The source said the team considering nominees for the opening was impressed with Mester, but said there was no front-runner for the position at this point,...Read More
FRANKFURT, Feb 13 (Reuters) - Shares in German residential property developer Instone Real Estate Group BV were priced at 21.50 euros apiece on Tuesday, at the bottom of an indicative price range of 21.50 to 25.50 euros for its initial share offering as market turbulence spooked investors.Instone's shares were due to start trading in Frankfurt on Thursday after the second market listing in Germany...Read More
Feb 14 (Reuters) - Australian shares are likely to edge higher on Wednesday helped by strong metal prices and tracking positive performance on Wall Street on Tuesday.Copper on the LME climbed 2.3 percent while zinc ended up 2.6 percent on Tuesday, while stocks on Wall Street ended the day up for a third straight session, buoyed by technology majors Amazon and Apple .The local share price index fut...Read More
(Adds background and stock price)By David IngramSAN FRANCISCO, Feb 13 (Reuters) - Twitter Inc Chief Executive Jack Dorsey said on Tuesday that he saw value in the social media network remaining an independent company, downplaying recent speculation by analysts that it could be an acquisition target. "I've always thought that there's a lot of strength to our independence. We can work on every...Read More
After two strong up days, the Dow, S&P 500, and Nasdaq struggled to pick a direction today, but ultimately ended higher. Although the Dow explored a range of nearly 285 points on both sides of breakeven, it was the index's least volatile session since Jan. 30. While tech and bank stocks rallied, many traders exercised caution ahead of a round of crucial inflation data set for release tomorrow. Spe...Read More
* U.S. consumer prices and retail sales data due Wednesday* Market rout not impacting economic outlook - Fed's Mester* Under Armour climbs after posting upbeat revenue* Indexes rise: Dow 0.16 pct, S&P 500 0.26 pct, Nasdaq 0.45 pct (Updates to close)By Noel RandewichFeb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors fo...Read More
Feb 13 (Reuters) - Canada's main stock index ended slightly lower on Tuesday, weighed by the industrial and energy sectors as oil prices fell and appetite for global stocks faltered. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 25.41 points, or 0.17 percent, at 15,216.47. (Reporting by Leah Schnurr; editing by Diane Craft) Disclaimer: The views expressed in th...Read More
(Updates quotes, table, prices)By Kate DuguidNEW YORK, Feb 13 (Reuters) - The Japanese yen rose to a five-month high on Tuesday on the back of broad-based selling of the dollar and speculation the Bank of Japan could be close to dialing back record levels of monetary stimulus.The yen has gained 1.5 percent against the dollar this month, benefiting last week from a rush by investors into currencies...Read More
Feb 14 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,855.90035.20 NZX 50**8,122.22 63.160DJIA**24,674.5 73.23 NIKKEI**21,244.68-137.94Nasdaq**7,016.83036.866FTSE**7,168.01 -9.05S&P 500** 2,665.52 9.52Hang Seng** 29,839.53379.90SPI 200 Fut 5,80815.00 STI** 3,415.07 30.09SSEC**3,185.5964 31.47 KOSPI** 2,395.19 9.81------------------------------------------------------...Read More
(Adds comment from official at the Government Finance Officers Association, paragraphs 6-7)By Karen PierogCHICAGO, Feb 13 (Reuters) - The federal tax exemption for a type of debt refunding used by U.S. states, cities, schools and other issuers to lower borrowing costs would be restored under a new bipartisan bill in Congress, two of its sponsors said on Tuesday. The sweeping tax legislation signe...Read More
NEW YORK, Feb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple , while investors focused on inflation data on Wednesday that could upset the market's fragile recovery - or clear the way for more gains.Based on the latest available data, the Dow Jones Industrial Average rose 39.18 points, or 0.16 percent, to 24,640.45, the S&P 500 gained...Read More
(Adds graphic, no change to text)By Richard LeongNEW YORK, Feb 13 (Reuters) - Bond traders and investors offered a lukewarm embrace this week to an expected surge in U.S. government debt supply in the coming weeks following last week's budget deal that will raise federal spending by almost $300 billion over the next two years.The jump in Treasury bill supply, totaling $190 billion from sales on M...Read More
David LjunggrenOTTAWA (Reuters) - Canada’s chief negotiator at talks to modernize NAFTA on Tuesday said the United States aimed to weaken Canada and Mexico rather than ensure all three members of the trilateral trade pact benefited.Steve Verheul said the talks had achieved little progress on major issues so far and complained about the inflexibility of U.S. negotiators.His comments were easi...Read More
(Reuters) - A Wall Street regulator is probing into whether prices linked to the Cboe Volatility Index .VIX have been manipulated, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter.The Financial Industry Regulatory Authority (FINRA) is scrutinizing whether traders placed bets on S&P 500 options in order to influence prices for VIX futures, according to the...Read More
(Updates prices, adds analyst comment)MEXICO CITY, Feb 13 (Reuters) - Mexican markets held steady on Tuesday, as investors awaited U.S. inflation data that could shine a light on the possible next steps of the Federal Reserve Bank's monetary policy and future appetite for emerging market assets. In New York, Wall Street's three main indexes traded higher, reversing earlier losses even as investors...Read More
Howard SchneiderDAYTON, Ohio (Reuters) - When the Federal Reserve’s policy meeting ended last month, U.S. stock indexes were near record highs, market volatility was almost non-existent and policymakers chatted about the calm waters welcoming incoming central bank chief Jerome Powell.Now, Janet Yellen’s successor may instead be facing an early test of his leadership as the Fed weighs t...Read More
The World Gold Council released a gold update indicating solid performance in 2017 supported by robust economy, US Fed raising interest rates three times and risk asset values ascend.US dollar gold price surged to the highest annual gain since 2010.Potential headwinds this year may not be as strong as many investors perceive it to be. Image source: www.optionsellers.com Investment Thesis Based on...Read More
* U.S. consumer prices and retail sales data due Wednesday* Market rout not impacting economic outlook - Fed's Mester* Under Armour climbs after posting upbeat revenue* Indexes rise: Dow 0.10 pct, S&P 0.13 pct, Nasdaq 0.33 pct (Updates with market recovery, afternoon trade)By Noel RandewichFeb 13 (Reuters) - Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and...Read More
U.S. stocks have erased earlier losses ahead of tomorrow's key inflation update. Several individual names are making big moves, including healthcare stocks Patterson Companies, Inc. (NASDAQ:PDCO) and Henry Schein, Inc. (NASDAQ:HSIC) -- which are stumbling -- while athletic wear stock Under Armour Inc (NYSE:UAA) is having its best day in years. Here's a closer look at what's moving shares of PDC...Read More