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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.88% By Investing.com

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© Reuters. U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.88%

Investing.com – U.S. stocks were higher after the close on Monday, as gains in the , and sectors led shares higher.

At the close in NYSE, the added 0.88% to hit a new 1-month high, while the index climbed 1.64%, and the index gained 2.56%.

The best performers of the session on the were Apple Inc (NASDAQ:), which rose 6.35% or 7.43 points to trade at 124.40 at the close. Meanwhile, Goldman Sachs Group Inc (NYSE:) added 3.17% or 6.58 points to end at 214.12 and Microsoft Corporation (NASDAQ:) was up 2.59% or 5.59 points to 221.40 in late trade.

The worst performers of the session were Dow Inc (NYSE:), which fell 1.58% or 0.78 points to trade at 48.58 at the close. Nike Inc (NYSE:) declined 1.16% or 1.52 points to end at 129.46 and International Business Machines (NYSE:) was down 0.45% or 0.58 points to 127.21.

The top performers on the S&P 500 were Apple Inc (NASDAQ:) which rose 6.35% to 124.40, Ford Motor Company (NYSE:) which was up 5.79% to settle at 7.67 and Twitter Inc (NYSE:) which gained 5.12% to close at 48.25.

The worst performers were CF Industries Holdings Inc (NYSE:) which was down 5.78% to 29.52 in late trade, Coty Inc (NYSE:) which lost 4.51% to settle at 3.39 and Apache Corporation (NASDAQ:) which was down 3.72% to 9.31 at the close.

The top performers on the NASDAQ Composite were Wah Fu Education Group Ltd (NASDAQ:) which rose 114.69% to 6.870, Hexindai Inc (NASDAQ:) which was up 58.52% to settle at 2.6000 and Iconix Brand Group Inc (NASDAQ:) which gained 41.80% to close at 1.030.

The worst performers were Avenue Therapeutics Inc (NASDAQ:) which was down 58.97% to 4.53 in late trade, Lonestar Resources US Inc (OTC:) which lost 39.80% to settle at 0.150 and Oasis Petroleum Inc (OTC:) which was down 37.94% to 0.096 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1848 to 1215 and 105 ended unchanged; on the Nasdaq Stock Exchange, 1689 rose and 1197 declined, while 81 ended unchanged.

Shares in Twitter Inc (NYSE:) rose to 5-year highs; gaining 5.12% or 2.35 to 48.25. Shares in Avenue Therapeutics Inc (NASDAQ:) fell to 52-week lows; losing 58.97% or 6.51 to 4.53. Shares in Lonestar Resources US Inc (OTC:) fell to all time lows; falling 39.80% or 0.100 to 0.150. Shares in Oasis Petroleum Inc (OTC:) fell to all time lows; falling 37.94% or 0.059 to 0.096.

The , which measures the implied volatility of S&P 500 options, was up 0.28% to 25.07.

Gold Futures for December delivery was up 0.06% or 1.20 to $1927.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 2.71% or 1.10 to hit $39.50 a barrel, while the December Brent oil contract unchanged 0.00% or 0.00 to trade at $41.75 a barrel.

EUR/USD was down 0.03% to 1.1809, while USD/JPY rose 0.02% to 105.33.

The US Dollar Index Futures was up 0.01% at 93.073.

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.





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Stock Markets

European stocks fall as healthcare, construction sectors drag By Reuters

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

By Sruthi Shankar

(Reuters) – European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson (BS:).

The pan-European STOXX 600 () fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package.

Most European sectors slipped, with healthcare stocks () proving the biggest drag, while banking stocks () were supported by rising U.S. and European government bond yields.

Nestle (S:) lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains.

Sweden’s Ericsson (ST:) jumped 5.5% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.

“Earnings have been generally well above expectations, and guidance has been a positive surprise,” said Patrick Moonen, principal strategist in the multi-asset team at NN (NASDAQ:) Investment Partners.

“But there are other elements that are currently at play and may have a bigger impact on the market performance than earnings.”

Moonen pointed to many European countries reimposing mobility restrictions following a surge in COVID-19 cases that could weigh on fourth-quarter economic activity.

The STOXX 600 has struggled to break out of a trading range since June, when it recouped a large part of the early pandemic-driven losses. The benchmark is still about 16% below its all-time high.

London markets underperformed, with the exporter-heavy FTSE 100 () hit by a surge in pound after bullish Brexit comments. ()

Vivendi (PA:) rose 2.9% after the French media group reported a bigger-than-expected quarterly sales and unveiled plans to list its most-prized asset, Universal Music Group, in 2022.

Third-quarter profits for companies on the STOXX 600 are expected to drop 34.8%, according to Refinitiv data, a slight improvement from the 36.7% predicted at the start of the earnings season.

Of the 29 companies that reported so far, 75.9% have topped earnings expectations.

Gold miner Centamin Plc (L:) slumped 20.7% to the bottom of STOXX 600 after cutting its 2020 production forecast.

Construction companies also took a knocking, with Assa Abloy (ST:), the world’s biggest lockmaker, falling 3.9% after it reported a drop in quarterly sales.

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.





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Japan stocks higher at close of trade; Nikkei 225 up 0.31% By Investing.com

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© Reuters. Japan stocks higher at close of trade; Nikkei 225 up 0.31%

Investing.com – Japan stocks were higher after the close on Wednesday, as gains in the , and sectors led shares higher.

At the close in Tokyo, the added 0.31%.

The best performers of the session on the were Takara Holdings Inc. (T:), which rose 7.67% or 83.0 points to trade at 1165.0 at the close. Meanwhile, The Japan Steel Works, Ltd. (T:) added 7.40% or 157.0 points to end at 2280.0 and Pacific Metals Co., Ltd. (T:) was up 5.92% or 95.0 points to 1701.0 in late trade.

The worst performers of the session were NEC Corp. (T:), which fell 2.25% or 130.0 points to trade at 5640.0 at the close. Yahoo Japan Corp. (T:) declined 1.82% or 14.0 points to end at 756.0 and Olympus Corp. (T:) was down 1.79% or 37.0 points to 2027.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 2348 to 1140 and 212 ended unchanged.

The , which measures the implied volatility of Nikkei 225 options, was unchanged 0% to 20.83.

Crude oil for December delivery was down 1.08% or 0.45 to $41.25 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 1.14% or 0.49 to hit $42.67 a barrel, while the December Gold Futures contract rose 0.35% or 6.75 to trade at $1922.15 a troy ounce.

USD/JPY was down 0.35% to 105.12, while EUR/JPY fell 0.09% to 124.58.

The US Dollar Index Futures was down 0.26% at 92.812.

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.





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Iberdrola’s Avangrid to buy U.S. firm PNM Resources for $4.3 billion By Reuters

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2/2
© Reuters. The logo of Spanish utility company Iberdrola is seen outside its headquarters in Madrid

2/2

By Isla Binnie

MADRID (Reuters) – Spanish renewable energy firm Iberdrola (MC:) announced plans to expand in the United States on Wednesday with a deal to buy utility PNM Resources (N:) through its U.S. unit Avangrid (N:) worth $8.3 billion including debt.

Absorbing PNM into Avangrid will create the third-largest renewable energy operator in the United States, with business spanning 24 states, Iberdrola said in a statement.

On Tuesday Reuters reported that the deal was being discussed.

PNM’s board unanimously approved the $4.3 billion offer to its shareholders of $50.3 per share, the filing said. Iberdrola expects the deal to close in 2021 and start boosting financial results from the first year.

Green energy targets and increasing investor interest in protecting the environment have buoyed Iberdrola and other renewables-focused utilities.

The pandemic has also seen U.S. utilities look harder at consolidation to cut costs and spur investment.

Active in New Mexico and Texas, PNM gives Avangrid a route to expand its regulated business beyond the U.S. northeast.

PNM could also benefit from Avangrid’s renewables experience as it works to cut emissions.

Iberdrola said the merged company would have assets worth $40 billion, generate core earnings of around $2.5 billion and net profit of $850 million.

This is Iberdrola’s eighth deal this year as part of a 10 billion euro ($11.85 billion) investment drive in which it has already bought assets in France, Australia and Japan.

CEO Ignacio Galan said his strategy consisted of: “Friendly transactions, focused on regulated businesses and renewable energy, in countries with good credit ratings and legal and regulatory stability, offering opportunities for future growth”.

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.





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