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Europe Stocks Set for Weekly Loss as Renault Drags on Carmakers

Declines in auto-related shares and commodity producers dragged European stocks lower as a busy earnings week drew to a close. The Stoxx Europe 600 Index fell 0.9 percent at 8:30 a.m. in London, extending its second weekly drop. Renault SA fell 6.2 percent, pulling down carmakers, after its profit missed estimates and the company said price pressures are rising in some markets. Miners snapped a three-day advance. -Among shares moving on corporate results: -L’Oreal SA fell 2.2 percent after reporting second-quarter sales that missed estimates. -Credit Suisse Group AG gained ...

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U.S. fund investors prefer bonds to stocks in latest week: Lipper

U.S. fund investors poured $2.5 billion into taxable bonds during the latest week, marking the third straight week of inflows for those products, Lipper data showed on Thursday. Stock funds recorded $1.4 billion in outflows during the week ended Wednesday. Those funds have recorded withdrawals in five of the last six weeks, the data showed. Source: Reuters (Reporting by Trevor Hunnicutt)

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Pound Gains in Week Even as BOE Tightening Odds Ease

The pound was on track for weekly advances against most major peers ahead of the Bank of England’s policy decision, even though the prospect of near-term monetary tightening has been dimmed by lackluster economic data. Sterling held its weekly gain versus the dollar, with the BOE due to announce its decision on interest rates and release the quarterly inflation report on Aug. 3. The market-implied probability of a rate increase by year-end has fallen to 34.5 percent, from 41.4 percent before a July 26 report that showed growth held near ...

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Amazon wobble creates ripples across worldwide stock markets

An earnings miss by Amazon that hit U.S. technology stocks overnight rippled through into other markets on Friday, with Asian stocks retreating from recent highs and European tech shares opening sharply lower. Amazon’s stock tumbled over 2 percent on Thursday after it reported a slump in profits, as its rapid and costly expansion into new shopping categories and countries showed no sign of slowing. “It has been a pretty good season for earnings and this is the first big company that has sown a few doubts on that, and it ...

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Dollar stalls after bounce, U.S. GDP awaited for potential support

The dollar stalled against its major peers on Friday, its mild bounce earlier petering out ahead of the second quarter U.S. economic growth data due later in the session. The dollar index against a basket of six major currencies was flat at 93.872 after edging up 0.2 percent the previous day. The greenback, which had sunk to a 13-month low midweek after the Federal Reserve’s policy statement suggested it was in no hurry to raise interest rates again, received a lift on Thursday as Treasury yields rose on the back of upbeat U.S. ...

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MARKETS SNAPSHOT FOR 27/07/17

NASDAQ-Adv: 974 Dec: 1,949 NYSE-Adv: 1,320 Dec: 1,615 (Source: Nasdaq)

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Dollar bounces back after hitting long-term lows, bolstered by U.S. data

The U.S. dollar rallied on Thursday after solid U.S. economic data, bouncing back from months- and years-long lows plumbed in early trading that followed Wednesday’s Federal Reserve policy statement. Data released on Thursday showed U.S. durable goods orders rose more than expected last month and a fifth straight monthly increase in shipments suggested that business spending on equipment would support economic growth in the second quarter. The solid durable goods orders data was a welcome sign to dollar bulls, as U.S. economic data and uncertainty surrounding U.S. President Donald Trump’s ...

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European Stocks Hold Steady as AstraZeneca Sinks, Diageo Climbs

European stock investors weighed mixed corporate results on one of the earnings season’s busiest days, leaving the region’s equity benchmark little changed. The Stoxx Europe 600 Index added 0.1 percent at 8:33 a.m. in London, with AstraZeneca Plc sinking 15 percent after a setback for its cancer therapy in one of the industry’s most-anticipated drug studies. Beverage companies Diageo Plc and Anheuser-Busch InBev NV climbed at least 4.6 percent each after their results. A long-awaited earnings revival has boosted European equities in 2017, even though a recent rally in the ...

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Global Shares Rise on Fed Signals

Global markets advanced and the dollar fell Thursday after the Federal Reserve damped expectations for U.S. interest-rate increases and investors focused on upbeat earnings reports. The Stoxx Europe 600 was up 0.1% in early trading, led by the technology and the food and beverages sectors amid a flurry of earnings reports. That followed gains in indexes across Asia. Futures suggested the S&P 500 would add 0.3% at the opening bell. U.S. stock indexes climbed to fresh records Wednesday after investors found a dovish tilt in the Fed’s latest statement and ...

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Dollar Approaches Key Support After Fed’s Dovish Inflation View

The dollar extended its decline as traders in Asia joined the selloff after the U.S. Federal Reserve indicated that a period of weak inflation continues and left rates on hold. The Bloomberg Dollar Spot Index, already at its lowest since May 2016, slipped 0.2 percent Thursday, toward the 1,150 support level. Clients are still getting on the trade against the greenback, with momentum funds adding to long positions on the Australian dollar, according to a sales trader who asked not to be identified as he isn’t authorized to speak publicly. Treasury yields fell ...

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MARKETS SNAPSHOT FOR 26/07/17

NASDAQ-Adv: 1,421 Dec: 1,488 NYSE-Adv: 1,505 Dec: 1,457 (Source: Nasdaq)

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Dollar falls, stocks stay higher after Fed statement

The dollar turned lower while U.S. stocks stayed higher on Wednesday after the Federal Reserve signaled it could begin to cut its massive bond portfolio “relatively soon.” U.S. Treasury yields fell to a session low after briefly rising following the statement. The U.S. central bank, which also kept its benchmark lending rate in a target range of 1.00 to 1.25 percent, said it was continuing the slow path of monetary tightening that has lifted benchmark U.S. interest rates by a percentage point since 2015. It said it expected to start ...

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Thursday Is the ‘Day From Hell’ for Europe’s Stock Watchers

If you think your Thursday looks bad, spare a thought for James Edwardes Jones. The RBC analyst is bracing for what he calls the busiest earnings day he’s experienced in about 20 years covering the consumer-goods industry. Edwardes Jones plans to arrive at RBC Europe’s London offices along the River Thames about the time the world’s largest brewer, Anheuser-Busch InBev NV, reports results at 6 a.m. local time. Fifteen minutes later he has Nestle SA, followed by Danone at 6:30. Then come Diageo Plc and British American Tobacco Plc, along ...

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Sterling Retreats as U.K. Economy Extends Lackluster Performance

The pound reversed an earlier advance against the dollar and gilts rose after data showed the U.K. economy extended its lackluster performance into the quarter through June. The Office for National Statistics said the economy experienced a “notable slowdown” in the first half, reporting a modest 0.3 percent increase in gross domestic product for the period. The growth figures follow last week’s data that showed inflation unexpectedly slowed in June, damping expectations for monetary tightening by the Bank of England. The central bank’s next policy decision is on Aug. 3. ...

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Oil bounce, results keep stocks on high

Oil’s rise back above $50 a barrel helped prod stock markets higher on Wednesday and company results and economic data continued to soothe worries that the world economy may be ripe for a another slowdown. European stock markets were mainly higher, led by energy and commodity-linked companies after Brent crude topped the $50 mark for the first time since early June. A slightly less bullish performance in Asia pulled the MSCI world equity index, which tracks shares in 46 countries, off all-time highs overnight. But early in the European session, ...

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