Connect with us

Stock Markets

Audi says plant in Mexico remains open, debt dispute denied by company By Reuters

Published

on


4/4
© Reuters. FILE PHOTO: Employees work at an Audi Q5 2.0 production line of the German car manufacturer’s plant during a media tour in San Jose Chiapa

2/4

MEXICO CITY (Reuters) – A Mexican auto plant belonging to German carmaker Audi (DE:) remains open and did not close following a dispute over unpaid bills that the firm denies, as was reported by local media, an official with the company told Reuters on Saturday.

The plant is located in the central state of Puebla. Media had reported officials from the local municipality shut the facility on Friday after several hours of failed talks to resolve a dispute over an alleged 90 million pesos ($4.3 million) in outstanding debts on items including local property taxes and water bills.

“There was never any closure,” said Christine Kuhlmeyer, a communications official with Audi Mexico.

“We comply on time with our obligations,” she added.

Asked about the figures circulating in local media about the allegation of unpaid debts, Kuhlmeyer said she could not comment on any specific amounts, but said plant representatives would be talking with state authorities on Monday.

“There were efforts like what’s been reported in the news, but they weren’t able to close the plant,” she said. Friday night and Saturday morning work shifts were not interrupted, she added.

Audi is the luxury car unit of Europe’s biggest carmaker, Volkswagen (DE:).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Stock Markets

Earnings nudge European stocks higher, virus concerns limit gains By Reuters

Published

on

By


© Reuters. FILE PHOTO: The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) – European stocks inched higher on Friday, boosted by positive earnings updates from Barclays and carmakers, while nagging concerns about the economic impact of surging COVID-19 cases put markets on course for weekly losses.

The pan-European STOXX 600 index () rose 0.2% by 0711 GMT, with Asian markets stuck in a trading range as investors treaded with caution with less than two weeks to go before the U.S. presidential election.

London’s FTSE 100 () was supported by a 2.8% jump in Barclays (L:) after it reported much better than expected quarterly earnings.

Carmaker Daimler (DE:) rose 1.9% after it raised its 2020 profit outlook, while Renault (PA:) was up 1.5% after saying it should have positive cash flow from cars by the end of 2020 as sales recovered.

However, gains were limited as France looked set to widen a curfew to more than two thirds of its population after the country set an all-time daily high of new coronavirus cases on Thursday.

IHS Markit’s early reading of euro zone and UK business activity for October is due later in the day.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Stock Markets

Australia stocks lower at close of trade; S&P/ASX 200 down 0.11% By Investing.com

Published

on

By


© Reuters. Australia stocks lower at close of trade; S&P/ASX 200 down 0.11%

Investing.com – Australia stocks were lower after the close on Friday, as losses in the , and sectors led shares lower.

At the close in Sydney, the fell 0.11%.

The best performers of the session on the were Bluescope Steel Ltd (ASX:), which rose 10.86% or 1.560 points to trade at 15.920 at the close. Meanwhile, Cooper Energy Ltd (ASX:) added 4.35% or 0.015 points to end at 0.360 and Santos Ltd (ASX:) was up 3.94% or 0.200 points to 5.280 in late trade.

The worst performers of the session were Iluka Resources Ltd (ASX:), which fell 48.28% or 4.780 points to trade at 5.120 at the close. Regis Resources Ltd (ASX:) declined 4.32% or 0.210 points to end at 4.650 and United Malt Group Ltd (ASX:) was down 3.49% or 0.15 points to 4.15.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 648 to 640 and 340 ended unchanged.

Shares in Iluka Resources Ltd (ASX:) fell to 3-years lows; losing 48.28% or 4.780 to 5.120.

The , which measures the implied volatility of S&P/ASX 200 options, was down 1.95% to 19.015.

Gold Futures for December delivery was up 0.11% or 2.10 to $1906.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 0.74% or 0.30 to hit $40.34 a barrel, while the December Brent oil contract fell 0.64% or 0.27 to trade at $42.19 a barrel.

AUD/USD was down 0.08% to 0.7109, while AUD/JPY fell 0.20% to 74.45.

The US Dollar Index Futures was up 0.11% at 93.067.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Stock Markets

Asian Stocks Up, After “Slightly More Civilized” Trump-Biden Debate By Investing.com

Published

on

By


© Reuters.

By Gina Lee

Investing.com – Asia Pacific stocks were mostly up on Friday morning, with investors digesting the final presidential debate between President Donald Trump and Democratic candidate Joe Biden ahead of the Nov. 3 presidential election.

“It was a slightly more civilized debate this time around, but Trump failed to make up for lost ground from the first debate. Biden came through better than Trump in this debate and this should help to cement his lead over Trump and may just help him to cross the final line with a win,” OCBC Wealth Management senior strategist Vasu Menon told Reuters.

Japan’s was up 0.43% by 11:10 PM ET (3:10 AM GMT) and South Korea’s gained 0.50%.

In Australia, the inched down 0.10% and Hong Kong’s rose 0.60%.

China’s edged up 0.20%, while the inched down 0.04%.

Some investors warned of market volatility ahead as markets in the region opened.

“There will be a positive bias to the opening tone in Asian trade,” CommSec market analyst Tom Piotrowski told Reuters.

“But regional investors won’t necessarily hang their hats on that outcome, the markets can move around quite quickly,” he added.

Other developments in Washington on investors’ radar is progress on the latest stimulus measures. Continuous, staunch Republican opposition to the measures’ price tag makes the likelihood that Congress will pass them before the election slim. However, U.S. House of Representatives Speaker Nancy Pelosi continued to be optimistic that a deal can be reached soon.

Pelosi and Treasury Secretary Steven Mnuchin are “just about there” vis-a-vis a deal and are currently resolving how to allocate money for testing and tracing to safely reopen schools and the economy, a key part of the measures.

The continuing uncertainty has a big move in the bond market over expectations that a deal will materialize soon.

“The big move in the bond market has been going on for the past few days and it’s mostly because the market is expecting that one way or another there will be a stimulus package, if not before the election then after the election” Yardeni Research president and chief investment strategist Ed Yardeni told Bloomberg.

There are over 41.5 million COVID-19 cases globally as of Oct. 23, according to Johns Hopkins University data. In Europe, which is fighting a second wave, Germany recorded a record number of cases and Spanish health minister Salvador Illa warned that the spread of the virus is out of control in certain parts of his country.

Stocks received a boost, however, from the news of the first approved COVID-19 treatment, after Gilead Sciences (NASDAQ:) received FDA approval on Thursday for its antiviral therapy Veklury (remdesivir) to treat the virus. The approval is for the use of remdesivir in adult and pediatric patients 12 years of age and older weighing at least 40 kilograms (around 88 pounds), the FDA said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme.