DJIA: 17,689.86  -56.12 (-0.32%) | NASDAQ: 5,128.281  -0.503 (-0.01%) | S&P 500: 2,103.84  -4.79 (-0.23%) Markets status unavailable

  • Show Article Details

    Investors allocating funds across global stock markets can earn an average return of up to 12 percent a year despite currency swings, a study showed on Thursday. The study -- by the Cass Business School, the Bank of England and City University Hong Kong -- used data from more than 40 stock markets, observed over 30 years.

  • Show Article Details

    Canada's main stock index turned negative shortly after the open on Thursday, as stronger energy stocks failed to offset weaker materials and financials shares, as well as disappointing earnings and news from Bombardier. The Toronto Stock Exchange's S&P/TSX composite index fell 36.47 points, or 0.26 percent, to 14,265.33. Seven of the index's 10 main groups were in the red.

  • Show Article Details

    European markets had a good start Thursday with a raft of earnings announcements in London and elsewhere and despite the volatility in Asia. In London, the FTSE 100 was up 0.61% at 6,671.46, while in Paris, the CAC 40 was up 0.55% at 5,045.24. In Frankfurt, the DAX was up 0.45% at 11,261.

  • Show Article Details

    Canadian plane and train maker Bombardier Inc (BDRAF) reported lower earnings and sharply higher cash use on Thursday, and pushed back delivery of its new Global business jet, driving down its share price. Bombardier, which has been spending heavily to bring its new CSeries jet into service, used $808 million in free cash flow in the quarter, up from $424 million a year earlier.

  • Show Article Details

    * FTSEurofirst 300 up 0.1 percent. * Siemens, Nokia underpin euro zone recovery story. * But China and emerging markets weigh. * German unemployment data shows surprise rise. * Peripheral euro zone preferred to core - Julius Baer. By Lionel Laurent.

  • Show Article Details

    * Dollar gains broadly after Fed meeting and before U.S. GDP * Global stocks subdued on U.S. interest rate hike caution * China, dollar push commodities to near six-year lows * Europe modestly higher after busy day of data By Marc Jones LONDON, July 30 (Reuters) - The dollar jumped and stock markets around the world were left flat-footed on Thursday after the Federal Reserve painted a relatively bright picture of the U.S. economy, boosting bets that it will hike interest rates in September. Wall Street, which is in the midst of earnings season, was expected to open little changed, although that could change with second quarter growth data, due at 1230 GMT, which will give further insight into U.S. economic health. Big name companies set to report include Colgate-Palmolive , Coca-Cola, Mondelez International before the bell and Expedia, LinkedIn and Western Union after the close. Europe's main stock markets were holding onto a third day of modest gains as results from Siemens, Nokia and Deutsche Bank and a rise in euro zone-wide sentiment data boosted the mood. There was no sign of the dollar wilting as it consolidated overnight gains against most of the world's main currencies following Wednesday's Fed meeting. Fed officials had said they felt the economy had overcome a first-quarter slowdown, was "expanding moderately" and pointed to "solid job gains" in recent months despite a new downturn in the energy sector and headwinds from overseas. Traders took it as a sign that the bank was nudging towards its first rate hike for almost a decade. The dollar was almost a cent higher against the euro than on Wednesday at $1.0955 and at a one week-high of 124.37 against the yen. Charles Schwab managing director, Kully Samra, said the U.S.-focused investment management firm's view was still that the Fed would push ahead with its first rate hike in almost a decade in September but then move cautiously. "Because of the slow process we will see with this rate hike cycle, we don't think it will doom the bull market (in stocks)," he said. "Mainly because it will send a message that the Fed is at the beginning of a normalisation process and it no longer needs to treat the patient as if it is in the trauma room." EURO FIGHTERS The Fed's message support U.S. bond yields overnight. The more sensitive two-year yields had hit their highest since early June but there was little impact on German Bunds and Europe's other core bond markets after the region's data deluge. Among surprises in the figures, German unemployment saw its biggest increase in more than a year while Sweden's second quarter economic growth beat forecasts, driven by surprisingly strong exports. Confidence in the pan-euro zone economy rose unexpectedly to a four-year high in July as sentiment in industry, services and retail improved, although inflation expectations slipped after five consecutive months of gains. That bolstered the view that the European Central Bank may have to prolong its 1 trillion euro stimulus programme that is now due to run till next September. "The data is a bit mixed in the respect that the confidence data was all largely positive from the euro zone countries but there were some downside surprises on the inflation side so from a monetary policy side it is roughly neutral," Bank of Tokyo Mitsubishi's Derek Halpenny said. GREAT FALL OF CHINA The push and pull of stronger U.S. growth but potentially higher interest rates in coming months had seen Asian stocks tail off in late trade there. Japan's Nikkei ended up 1 percent and Australian shares added 0.8 percent. But South Korean shares fell 0.7 percent while Chinese stocks took another near 3 percent tumble. Chinese equities are already down more than 30 percent from their June highs, and the latest drop came after state media reported that banks were investigating their exposure to the stock market from wealth management products and loans collateralised with stocks. "The market has been struggling to hover above the water with investors taking to the sidelines to see if stability can be maintained in the market," KGI Asia director, Ben Kwong, said. With the dollar flexing its muscles again, commodity markets were also back under pressure with copper, considered a bellwether for global economic activity, trading near a six-year low at $5,224 a tonne. The broad Thomson Reuters CRB commodities index hit a fresh six-year low, while gold was flirting with a 5-1/2-year low at $1,085 an ounce as its appeal ahead of potentially higher global interest rates remained in question. Oil prices, smarting from rising U.S. shale oil output and an easing of sanctions on Iran, were faring slightly better having bounced on Wednesday following an unexpectedly large weekly drawdown in U.S. crude inventories. Front-month Brent crude futures were pegged at $54 a barrel, and U.S. crude was up to $48.98 having pulled away from Tuesday's 4-1/2-month low. They have both lost more than 15 percent during July. (Additional reporting by Saikat Chatterjee in Tokyo; Editing by Louise Ireland)

  • Show Article Details

    * Greece's two-year borrowing costs more than halved. * Some banks seeing an opportunity for their clients. * Others remain cautious over whether deal will hold. By John Geddie. It is barely two weeks since Greece was on the brink of crashing out of the euro, yet some investment banks are now encouraging investors to return to its bond market.

  • Show Article Details

    Analyst:' Investors are in a limbo'. Chinese shares finished lower Thursday, swinging wildly in the last hour of trading, and extending a pattern of intraday volatility that started with mid-June's selloff. The Shanghai Composite ended down 2.2% at 3705.77, after snapping a three-day losing streak on Wednesday.

  • Show Article Details

    Europe's robust earnings season gave another lift to share prices on Thursday, with results from Siemens, Nokia and Deutsche Bank underpinning signs of a euro zone recovery. Europe's FTSEurofirst 300 equity index was up 0.5 percent at 0712 GMT, with Nokia, Safran and Fresenius up some 4 to 8 percent after reporting results.

  • Show Article Details

    Most stock markets in the Gulf rose slightly in early trade on Thursday, tracking oil prices and global equities, but Dubai fell after conglomerate Dubai Investments reported a sharp drop in second-quarter profit. The Dubai index edged down 0.4 percent as Dubai Investments dropped 3.0 percent.

  • Show Article Details

    China stocks fell on Thursday after state media reported that banks were investigating their exposure to the stock market through wealth management products and loans collateralised with stocks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen dropped 2.9 percent, to 3,815.41, while the Shanghai Composite Index slid 2.2 percent, to 3,705.73 points.

  • Show Article Details

    Nikkei share average rose sharply on Thursday to a near one-week high as investors in export focused firms took heart from the Federal Reserve's upbeat assessment of the U.S. economy, and strong earnings posted by blue-chips like Hitachi and Nintendo. The Nikkei share average ended 1.1 percent higher at 20,522.83, the highest closing level since July 24.

  • Show Article Details

    LONDON, July 30 (Reuters) - Britain's FTSE 100 index is seen opening around 6 points or 0.1 percent higher on Thursday, according to financial bookmakers. For more on the factors affecting European stocks, please click on * The UK blue-chip index closed 1.2 percent higher at 6,631.00 points on Wednesday after rising 0.8 percent in the previous session, when it snapped a five-day losing streak. * ROYAL DUTCH SHELL (RDS/A) - Idemitsu Kosan Co Ltd, Japan's second-biggest refiner, has agreed to buy about a 33 percent stake held by Royal Dutch Shell in fifth-ranked Showa Shell Sekiyu for about 160 billion yen ($1.3 billion), the Nikkei business daily reported. Protestors rappelled off a bridge and formed a kayak flotilla in Portland, Oregon, on Wednesday hoping to delay Royal Dutch Shell's Arctic oil exploration this summer by blocking the return of a ship to Alaska that holds emergency equipment. * GLAXOSMITHKLINE - The drugmaker, which was fined a record 3 billion yuan ($483 million) for corruption in China last year and is examining possible staff misconduct elsewhere, faces new allegations of bribery in Romania. The world's first malaria vaccine, which won a green light last week from European drugs regulators, will be rolled out gradually in Africa, its maker GlaxoSmithKline said on Wednesday. * BANK OF ENGLAND - New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement that Britain's finance ministry said posed no conflict of interest. * UK CORPORATE DIARY: FCAU.N Fiat Chrysler Automobiles NV Earnings Releases RR.L Rolls-Royce Holdings PLC Earnings Releases MLC.L Millennium & Copthorne Hotels PLC Earnings Releases BAES.L BAE Systems PLC Earnings Releases SDR.L Schroders PLC Earnings Releases SXS.L Spectris PLC Earnings Releases BOY.L Bodycote PLC Earnings Releases INCH.L Inchcape PLC Earnings Releases WEIR.L Weir Group PLC Earnings Releases RPS.L RPS Group PLC Earnings Releases MONY.L Moneysupermarket.Com Group PLC Earnings Releases MERL.L Merlin Entertainments PLC Earnings Releases ESV.N Ensco PLC Earnings Releases PBF.N PBF Energy Inc Earnings Releases ABY.OQ Abengoa Yield PLC Earnings Releases DGE.L Diageo PLC Earnings Releases AZN.L AstraZeneca PLC Earnings Releases BT.L BT Group PLC Earnings Releases CNA.L Centrica PLC Earnings Releases REX.L Rexam PLC Earnings Releases SN.L Smith & Nephew PLC Earnings Releases RBS.L Royal Bank of Scotland Group PLC Earnings Releases BAB.L Babcock International Group PLC Sales/Trading Stmt Releases IHG.L InterContinental Hotels Group PLC Earnings Releases HGGH.L Henderson Group PLC Earnings Releases TCG.L Thomas Cook Group PLC Sales/Trading Stmt Releases INTUP.L Intu Properties PLC Earnings Releases GNDP.PA Norbert Dentressangle SA Earnings Releases TODAY'S UK PAPERS > Financial Times > Other business headlines Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 For more information on Top News visit http://topnews.reuters.com (Reporting by Liisa Tuhkanen)

  • Show Article Details

    Stock markets were set to open higher on Thursday, with a raft of positive earnings updates adding to positive global sentiment after the U.S. Federal Reserve's policy statement pointed to improving labour-market conditions without clearly signalling plans for a rate rise.

  • Show Article Details

    * Bears outweigh bulls for both equities and fixed income * Oil prices back at early February levels * Saudi Arabia seen as most expensive market in region * UAE attracts bets linked to Iran * Egypt, a cheaply valued oil importer, also favoured By Olzhas Auyezov DUBAI, July 30 (Reuters) - Middle East fund managers have on balance turned negative towards the region and especially its biggest equity market, Saudi Arabia, after oil prices gave up most of the gains made in the last six months, a monthly Reuters survey shows. The survey of 15 leading investment firms, conducted over the past three days, shows only 13 percent expect to raise their equity allocations to the Middle East in the next three months, while 20 percent expect to reduce them. Last month, fund managers were neutral on balance towards regional equities, with 7 percent intending to increase equity allocations and the same number expecting to cut them. Oil, one of the main factors watched by investors in the region, has been falling sharply on worries about oversupply and a meltdown in Chinese equities. Brent crude hit a session trough of $52.28 on Tuesday, its lowest since Feb. 2. "One of the fatal factors determining the flow of investments in the region is oil; we are talking about an oil price less than 50 percent of where it was a year earlier," said Tamer Mostafa, head of asset management at Union National Bank in the United Arab Emirates. "Definitely that factor had a heavyweight effect on most GCC (Gulf Cooperation Council) countries as well as some countries in North Africa." Heavy state spending in GCC countries has kept economic growth in the region strong. But as oil's slump has continued, governments have started to cut back on some projects and reduce consumer subsidies - the UAE deregulated domestic fuel prices this week - and that has affected investor sentiment. "Going forward, investors should adapt their strategies according to the current oil price levels and focus on fundamentals and companies' growth plans rather than applying a top-down approach across the board," Mostafa said. SAUDI Fund managers are especially bearish on Saudi Arabia: 40 percent expect to cut equity allocations there in the next three months and just 7 percent to increase them. This compares with 27 percent intending to decrease allocations and 13 percent to increase them in June. Petrochemicals are the second-biggest sector by market capitalisation on the kingdom's stock market and most of those companies posted sharp profit declines in the second quarter as cheaper oil dragged down prices of oil products and chemicals. While the Saudi government has continued to spend heavily this year, many economists view that as unsustainable in the long run and expect some retrenchment next year, which could slow economic growth. Also, Saudi Arabia is the most expensive market in the region measured by price-to-earnings ratios. The main Saudi index trades at 16 times projected 2015 earnings, roughly the same as the Dow Jones Industrial Average and FTSE 100 ; other Gulf bourses are between 11 and 13. One reason for the high valuations was local investors' expectations for large foreign fund inflows when the market opened to direct foreign investment by qualified institutions in mid-June. But in the last six weeks, inflows have been tiny, partly because of strict regulations. One foreign institution, HSBC, obtained a licence to invest but it is not clear whether it has been joined by any other institution; the Capital Market Authority has not announced any licence awards. According to Reuters calculations based on stock exchange data, direct foreign fund inflows so far have only amounted to about $3.3 million - a drop in the ocean for a market with a capitalisation of $537 billion. UAE, EGYPT Fund managers are relatively positive on the United Arab Emirates, which looks best positioned to act as a hub for trade with and investment in Iran if sanctions against Tehran are lifted after this month's international agreement on the Iranian nuclear programme. Also, Dubai is less exposed to oil than other Gulf markets because of its diversified economy, although it is not insulated from an indirect impact such as lower spending by tourists from neighbouring countries. Forty percent of managers expect to increase equity allocations to the UAE, up from 33 percent a month ago, and only 7 percent expect to cut them, the same as in the previous survey. "We see good value in the UAE and it could benefit from Iran," said Bader Ghanim al-Ghanim, executive vice president and head of regional asset management at Kuwait's Global Investment House. Another favourite of fund managers is Egypt which, trading at 11 times 2015 earnings, is one of the cheapest markets in the Middle East, having dropped by almost a quarter between its peak in February and a trough in early July. Twenty-seven percent of respondents expect to increase their Egyptian equity allocations and none to cut them. Last month, the same number of respondents said they planned to increase allocations and 7 percent saw them lower. Egypt is a net importer of energy and cheaper oil has helped the Cairo government manage its budget deficit by reducing costly fuel subsidies. Gulf bond spreads have continued to perform strongly in recent weeks. Nevertheless, funds are on balance negative towards Middle East fixed income as the start of U.S. interest rate hikes looms, the survey showed. None of the respondents expects to raise allocations to fixed income and 20 percent expect to cut them, compared to 7 percent positive and none negative in the last survey. SURVEY RESULTS 1) Do you expect to increase/decrease/keep the same your overall equity allocation to the Middle East in the next three months? INCREASE - 2 DECREASE - 3 SAME - 10 2) Do you expect to increase/decrease/keep the same your overall fixed income allocation to the Middle East in the next three months? INCREASE - 0 DECREASE - 3 SAME - 12 3) Do you expect to increase/decrease/keep the same your equity allocations to the following countries in the next three months? a) United Arab Emirates INCREASE - 6 DECREASE - 1 SAME - 8 b) Qatar INCREASE - 1 DECREASE - 4 SAME - 10 c) Saudi Arabia INCREASE - 1 DECREASE - 6 SAME - 8 d) Egypt INCREASE - 4 DECREASE - 0 SAME - 11 e) Turkey INCREASE - 0 DECREASE - 2 SAME - 13 f) Kuwait INCREASE - 1 DECREASE - 2 SAME - 12 NOTE - Institutions taking part in the survey are: Ahli Bank Oman; Al Rayan Investment LLC; Al Mal Capital; Amwal Qatar; Arqaam Capital; Emirates NBD; Global Investment House; Invest AD; National Bank of Abu Dhabi; NBK Capital; Rasmala Investment Bank; Shuaa Asset Management; Schroders Middle East; Securities and Investment Co of Bahrain; Union National Bank. (Editing by Andrew Torchia)

  • Show Article Details

    * CSI300 -0.2 pct; SSEC -0.04 pct; HSI -0.1 percent. * Chinese banks investigate their exposure to stocks - paper. * Investors look for further stability, not keen to buy. China shares slid on Thursday after state media reported that banks were investigating their exposure to the stock market from wealth management products and loans collateralised with stocks.