Bloomberg Business -Oil falls: Oil is trading lower after U.S. crude inventories rose to their highest level since at least 1930 with a barrel of West Texas Intermediate 65 cents lower at $30.12 at 10:55 a.m. London time. Oil industry leaders are gathering in Houston, Texas next week for the IHS CREAWeek conference – often....
Bloomberg Business -China FX reserves stabilize: China’s foreign-exchange reserves fell at a slower pace last month as the nation’s financial markets stabilized and policy makers took more steps toward shoring up growth. The world’s largest currency hoard dropped by $28.6 billion to $3.2 trillion in February, the smallest decline since June, and less than the....
Bloomberg Business -S&P 500 bull market turns seven: The bull market in the S&P 500 celebrates its seventh anniversary today, making it the third longest bull market in the history of the index, and possibly also the least loved. With the index gaining just 0.5 percent over the past 18 months, this may be the....
Bloomberg Business -European markets surge: The Stoxx Europe 600 index climbed 2.4 percent by 10.45 a.m. London time, with the gains led by euro area banks which saw a rally of over 6 percent in the Euro Stoxx Banks (price) Index of over 6 percent. Italy’s FTSE-MIB gained 4.1 percent, while Germany’s Dax was 2.7....
Bloomberg Business -Stocks : The Standard & Poor’s 500 Index declined 0.6 percent at 10:26 a.m. in New York, after U.S. equities closed little changed on Monday. Data showed U.S. retail sales dropped in February and the prior month’s gain was revised to a decline, while a separate report showed manufacturing activity in the state of....
Bloomberg Business -Currencies: South Africa’s rand and Brazil’s real were among the biggest gainers in emerging-market currencies, jumping at least 1.9 percent. Currencies from other commodity-producing nations also strengthened. Australia’s dollar advanced 0.9 percent after the nation’s jobless rate unexpectedly declined, while New Zealand’s currency strengthened 1.5 percent after fourth-quarter economic growth beat projections. “In....
Bloomberg Business -Stocks: The Standard & Poor’s 500 Index declined 0.1 percent at 10:40 a.m. in New York, as the gauge fell from its highest level of the year. Transportation stocks posted the biggest decline out of 24 groups, with Delta Air Lines Inc. and American Airlines Group Inc. losing more than 1.8 percent. The....
Bloomberg Business -Stocks: The S&P 500 rose 0.1 percent at 10:43 a.m in New York, poised for a gain of 1.1 percent in the first quarter. The index is coasting to the end of the three-month period defined by two distinct halves, with a blistering comeback in the last six weeks erasing losses from the....
Bloomberg Business -Pfizer/Allergan merger terminated: Pfizer Inc. has decided to end its $160 billion merger with Allergan Plc, according to a person familiar with the matter. The cancellation comes after the Treasury Department unveiled new rules to combat tax inversions. The cancellation of the deal, which was to be the the largest ever in the....
Bloomberg Business -Stocks: Energy producers and banks led the rebound in the Stoxx Europe 600 Index, up 1.3 percent, the most this month on a closing basis, at 8:41 a.m. in New York. BP Plc and Royal Dutch Shell Plc rose more than 2.5 percent. Banca Popolare dell’Emilia Romagna SC, Banca Monte dei Paschi di....
Bloomberg Business -Stocks rise, bonds fall: The MSCI Asia Pacific Index gained 0.9 percent overnight, with Japan’s Topix jumping 1.5 percent as the yen weakened. Equities in Europe were slightly higher, with the Stoxx 600 Index gaining 0.1 percent at 10:18 a.m. London time after falling as much as 0.7 percent earlier in the session.....
Bloomberg Business -China GDP: China’s gross domestic product rose 6.7 percent in the first quarter from a year earlier, in line with the median expectation of economists surveyed by Bloomberg. The People’s Bank of China also released data on credit growth in the economy in March with an expansion of aggregate financing to 2.34 trillion....
Bloomberg Business -Stocks: The Stoxx Europe 600 Index jumped 1.4 percent as a measure of energy shares snapped a two-day decline, tracking oil higher. Fresnillo Plc and Anglo American Plc led commodity producers higher with gains of at least 3.3 percent. L’Oreal rallied 4.8 percent after its quarterly sales beat analysts’ estimates. Standard & Poor’s....
Bloomberg Business -ECB day: The European Central Bank will announce its latest interest rate decision at 7:45 a.m. Eastern Time today. With 100 percent of economist surveyed by Bloomberg expecting no change, investor interest will focus on ECB President Mario Draghi’s press conference beginning 45 minutes later. With doubts remaining over the efficacy of the....
Bloomberg Business -Stocks: The Stoxx Europe 600 Index rose 0.4 percent as of 8:49 a.m. New York time. BP rallied 4.6 percent and Standard Chartered jumped 12 percent in London after the bank reported a decline in loan impairments and capital increased more than some analysts estimated. Futures on the Standard & Poor’s 500 Index....