By Shashwat Chauhan and Ankika Biswas (Reuters) -European shares snapped a four-day losing streak on Monday as energy and miners rose, tracking higher global commodity prices, while Danish drugmaker Novo Nordisk steered gains in the healthcare sector. The pan-European STOXX 600 ended 0.1% higher, after rising as much as 0.9% intraday, having closed at a…
(Reuters) – Electric-vehicle maker Tesla’s shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its “best ideas” list. The brokerage said price cuts and their impact on margins will drive the narrative in the second half of the year but other potential catalysts for the…
(Reuters) -Industrial materials maker DuPont De Nemours said on Monday it has agreed to sell an 80.1% stake in its Delrin resins unit to private equity firm TJC, formerly known as The Jordan Company, in a deal that values the business at about $1.8 billion. Shares of the company fell 0.4% in morning trade after…
(Reuters) – The S&P 500 will likely struggle to make more headway after rallying almost 14% so far this year as investors start to question the sustainability of the U.S. economy’s resilience, Morgan Stanley equity strategists said. One reason is that a “sell-the news” mentality has taken hold following second-quarter earnings, potentially slowing price momentum,…
SHANGHAI (Reuters) -China’s major state-owned banks were seen actively mopping up the offshore yuan on Monday, three people with knowledge of the matter said, as the currency comes under growing pressure from a darkening economic outlook and strain in the property sector. State banks often act as agents for China’s central bank in the offshore…
(Reuters) – Seven major brokerages cut China’s economic growth forecast for the year as worries about contagion from debt repayment troubles at its top private property developer Country Garden deepened. There’s rising pressure on Beijing to deliver more stimulus to support the economy as it faces deflation and slower-than-expected growth in retail sales, industrial output…
By Stephen Culp (Reuters) -The Maui wildfires in Hawaii have killed at least 114, making it the deadliest U.S. wildfire in more than a century, with hundreds of people still unaccounted for nearly two weeks after the disaster. The causes of the Hawaii wildfires, which started the night of Aug. 8, have not yet been…
SHANGHAI/SINGAPORE (Reuters) -China cut its one-year benchmark lending rate on Monday as authorities seek to ramp up efforts to stimulate credit demand, but surprised markets by keeping the five-year rate unchanged amid broader concerns about a rapidly weakening currency. The recovery in the world’s second-largest economy has lost steam due to a worsening property slump,…
By Allison Lampert and Doyinsola Oladipo (Reuters) -Canadians vented their frustration against airlines on social media last week after prices of commercial flights out of Yellowknife soared up to 10-fold above normal just as residents were ordered to evacuate due to raging wildfires. Carriers including Air Canada have pledged to cap prices on Yellowknife flights…
A look at the day ahead in U.S. and global markets from Mike Dolan There’s been little let up in this month’s U.S. bond burn and China continues to fall short of what markets think is needed to stabilise its economy – making for another nervy start to the financial week. Although prompted by a…
