Australia shares seen extending gains, NZ shares steady in early ...
SYDNEY (Reuters) - Australian shares are seen extending gains on Monday, following a solid finish on Wall StreSun 4:28pm SYDNEY (Reuters) - Australian shares are seen extending gains on Monday, following a solid finish on Wall Street last week, though natural stocks could put a lid on advances after gold and oil prices slipped. Local share price index futures inched up 0.4 percent to 5,433.0, a 27.1-point premium to the underlying S&P/ASX 200 index close on Friday. The benchmark climbed to a nine-month peak in the last session and was up 3 percent so far this month. Global miner BHP Billiton is expected to open around 1.1 percent lower after its U.S. ADRs fell. ...
Trading in shares of Kuwait's Americana halted pending statement ...
Sat 10:18pm May 29 (Reuters) - Kuwait's stock market on Sunday suspended trading in the shares of Kuwait Food Co (Americana) pending a statement from the company. Trading on the Kuwaiti bourse opens at 0600 GMT. The statement from the exchange did not provide further details. Americana's major shareholder, Kuwait's billionaire al-Kharafi family, on Feb. 4 said it had signed an initial agreement to sell their holding to Adeptio Group subject to due diligence and approvals from Americana's board and regulatory authorities. (Reporting by Matt Smith; editing by Celine Aswad)
Bursa Malaysia to trend upwards next week
Fri 8:15pm KUALA LUMPUR: Bursa Malaysia is expected to trend higher next week prompted by the ringgit’s strength and upswing in global crude oil prices, an economist said.Affin Hwang Investment Bank Vice-President and Retail Research Head Datuk Dr Nazri Khan Adam Khan said the local stock market received a boost in the recent week after Brent crude exceeded US$50 per barrel for the first time this year and the momentum was expected to continue next week.He said the improvement also helped the ringgit recover lost ground to RM4.07 per US dollar from as low as RM4.13 on Tuesday. ...
Wall Street puts finishing touch on best week since March
Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Fri 1:32pm Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate "in the coming months." Yellen's is the most important voice in a chorus of policymakers recently suggesting that the U.S. economy has improved enough to warrant tighter borrowing costs, with a growing number of investors now expecting a hike in June or July. "As we look at our place in the global economy, things just seem to be improving to a point where it certainly looks likely that June or July will be the next launching point," said Paul Springmeyer, portfolio manager at the Private Client Reserve of U.S. Bank. "With the increased strength, we should get up off of those historically low levels where we are." After Yellen's speech, traders raised their expectations of a June rate hike to 34 percent from 30 percent, according to CME Group.
Yellen remark 'doesn't suggest' June hike - DoubleLine's Gundlach ...
Fri 12:51pm (Reuters) - Jeffrey Gundlach, the CEO of DoubleLine Capital, said Friday that Federal Reserve chair Janet Yellen's remarks that a rate hike would be appropriate in coming months "doesn't suggest" a hike in June. Wall Street trimmed gains in early afternoon trading on Friday after Yellen said it would likely be appropriate to raise rates "in the coming months." But Gundlach said he still believes Yellen was more dovish in her comments Friday than her Fed colleagues.
China's central bank condemns foreign media reports on yuan
Fri 5:21am China's central bank on Friday condemned two news reports from foreign media outlets published this week about currency reforms and monetary policy. The People's Bank of China (PBOC) said in a statement on its official Weibo account the reports "fabricated facts, misled readers, misled markets", and that it reserved the right to take legal action. The headlines appeared on articles published this week by the Wall Street Journal and Bloomberg.
Saudi Aramco boosting market share as it prepares for listing: ...
By Reem Shamseddine KHOBAR, Saudi Arabia (Reuters) - Saudi oil giant Aramco is gaining market share and pushingFri 5:15am By Reem Shamseddine KHOBAR, Saudi Arabia (Reuters) - Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as a "bridge" to a future when the nation relies less on energy exports. Nasser also told Reuters that the state-owned group was pressing on with preparations for its partial privatization via a stock market listing, which he said lay at the heart of Riyadh's "Vision 2030", a long-term economic plan headed by Deputy Crown Prince Mohammed bin Salman. Riyadh has been the driving force behind OPEC's decision in November 2014 to refuse to cut supply to boost prices.
Malaysian PM says police to investigate Wall Street Journal over ...
Malaysian Prime Minister Najib Razak said on Friday the central bank governor has asked the police to inFri 4:23am Malaysian Prime Minister Najib Razak said on Friday the central bank governor has asked the police to investigate the Wall Street Journal for leaking a confidential document related to an inquiry into scandal-hit government fund. Publishing confidential documents under OSA (Official Secrets Act) is a very serious action on (their) part. Earlier on Friday, the Wall Street Journal published a copy of a letter said to be from Malaysia's central bank and addressed to Hasan Arifin, the chairman of a parliamentary committee investigating the state investment fund, 1Malaysia Development Bhd. When asked if the letter was authentic, Najib said: "I don't know.
Philips Lighting shines in stock market debut
By Toby Sterling AMSTERDAM (Reuters) - Philips Lighting enjoyed a positive first day of trading as a newly indFri 3:07am By Toby Sterling AMSTERDAM (Reuters) - Philips Lighting enjoyed a positive first day of trading as a newly independent company on Friday after its Dutch parent spun off the business upon which it was founded more than 120 years ago. Philips set an IPO price of 20 euros (15 pounds) Thursday night, implying a market capitalisation of 3 billion euros ($3.4 billion), or an enterprise value of 4.5 billion euros including debt.. The shares rose eight percent to 21.45 euros in early trading in Amsterdam. The move signals a historic shift for Philips, set up in 1891 as a maker of light bulbs before expanding into consumer electronics.
Bidders Circle £7bn Credit Cards Giant MBNA
MBNA, one of Britain's biggest credit card issuers, is being circled by pFri 1:57am MBNA, one of Britain's biggest credit card issuers, is being circled by potential buyers after being put up for sale by its US owner. Sky News has learnt that Bank of America (Swiss: BAC.SW - news) (BoA) has initiated plans for an auction of MBNA, which has a loan book of about £7bn - equivalent to roughly 11% of the UK credit card market. The sale comes more than four years after a previous sale attempt by BoA attracted a failed offer from Apollo Management, a private equity firm, and an arm of Goldman Sachs (NYSE: GS-PB - news) , the Wall Street bank.
KCOM expects lower full-year core earnings as costs rise
Fri 12:31am (Reuters) - KCOM Group Plc said on Friday it expected core earnings for the current financial year to be slightly lower than a year earlier, as the telecoms services provider ramps up investments in its Hull and East Yorkshire market to accelerate growth. Shares in KCOM, whose customers include chip maker ARM Holdings and Domino's Pizza Group, were down 2.7 percent at 103.18 pence in early trading on the London Stock Exchange. Hull-based KCOM said it expected capital expenditure to be more than 40 million pounds per annum for the next two financial years, reflecting increased fibre investment.
Wall Street hits 'pause' after two-day surge
Investors this week have grown more comfortable with expectations the Federal Reserve could raise intereThu 2:12pm Investors this week have grown more comfortable with expectations the Federal Reserve could raise interest rates as soon as June, with many taking the view that such a hike would reflect improvement in the country's economy. "People are taking their foot off the gas after making a bunch of money, and now they're waiting for the next data point," said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York. Trading near 16.5 times expected earnings, the S&P 500 appears fairly priced, said Michael Mussio, managing director with FBB Capital Partners.