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U.S. Stocks End Two-Week Losing Streak as Industrials Rally

U.S. stocks posted their first weekly advance since the end of March as bond yields rose amid gains in industrial and financial companies. While the “Trump Trade” may not be the force it was in the months after the election, it showed some signs of life as the S&P 500 Index rallied 0.9 percent in its biggest weekly gain in two months. Eight of 11 industry groups climbed, with industrial stocks advancing 2 percent and financials gaining more than 1 percent. The Dow Jones Industrial Index increased 0.5 percent, weighed ...

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Traders Are Losing Faith in European Banks as Earnings Loom

Riding on a wave of optimism over the economic and earnings outlook, an index of the region’s banks rallied to a 15-month high in March — before posting the second-biggest decline among industry groups this month. At the same time, bets for swings in lenders’ stocks have jumped, and options reached their highest prices since February 2016 relative to those for euro-area blue chips. There’s little doubt the environment for European banks has brightened, with profits forecast to grow at the fastest pace in three years in 2017 as quicker ...

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MARKETS SNAPSHOT FOR 21/04/17

NASDAQ-Adv: 1,195 Dec: 1,660 NYSE-Adv: 1,359 Dec: 1,590 (Source: Nasdaq)

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Dollar firms vs euro with French election in focus

The euro weakened against the U.S. dollar on Friday as investors braced for Sunday’s first round of a tight French presidential election. The euro was down 0.14 percent against the dollar at $1.0699, off the session low of $1.0683. The common currency was 0.33 percent lower against the yen and down 0.27 percent against the Swiss franc. “We have got overall de-risking happening. You have people keeping the powder dry ahead of Sunday,” said Karl Schamotta, director of global product and market strategy at Cambridge Global Payments in Toronto. “Traders ...

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Southeast Asian Stocks Are Poised to Start Outperforming Peers

After lagging behind the wider region since 2013’s taper tantrum, Southeast Asian stocks are poised to start outperforming their peers. That’s the view from Morgan Stanley and Nomura Holdings Inc. in research notes released Thursday and Friday respectively. A completion of cyclical gains in earnings of technology and commodity companies, only modest dollar strength versus Asian currencies and a small deterioration in sentiment in China will benefit Asean markets over the next few months, according to Japan’s biggest brokerage. The “dovish tightening” by the Federal Reserve is supportive of emerging-market ...

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Asian stocks rise as steelmakers dismiss U.S. probe, euro fretful before French vote

Asian stocks were set to end the week on a positive note, unscathed by a U.S. trade probe on Chinese steel exports, while the euro remained on edge ahead of Sunday’s first round in a tight French presidential election after a shooting overnight in Paris that was claimed by Islamic State. European stocks were headed for a more muted start, with financial spreadbetters expecting Britain’s FTSE 100 <.FTSE> to open flat and Germany’s DAX <.GDAXI> to start the day up 0.1 percent. France’s CAC 40 <.FCHI> is also expected to ...

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Euro steady below three-week high, focus on French election

The euro inched higher in early European trade on Friday but remained almost a cent off this week’s highs as investors battened down the hatches for results of the first round of a tightly-fought French presidential election. Traders said an upbeat flash purchasing manager survey from France, added to polls showing centrist Emmanuel Macron still in pole position ahead of Sunday’s voting had again been enough to settle nerves after a dip late on Thursday. There was no obvious reaction to the shooting of a French policeman in central Paris ...

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Euro rises as French election jitters abate; dollar weak

The euro rose to a three-week high against the U.S. dollar on Thursday as some traders shut down broad bets against the common currency ahead of the first round of the French presidential elections on Sunday. The dollar remained weak against a basket of major currencies as the latest data on domestic jobless claims and business activity in the mid-Atlantic region did not change traders’ views of modest U.S. economic growth and low inflation. Traders were taking their cues from polls showing French centrist Emmanuel Macron easily beating far-right candidate ...

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MARKETS SNAPSHOT FOR 20/04/17

NASDAQ-Adv: 2,079 Dec: 823 NYSE-Adv: 2,121 Dec: 856 (Source: Nasdaq)

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China Sage Tips ‘Destruction’ of Leverage Trades as Stocks Slide

Markets are only starting to feel the heat from China’s campaign to cleanse its financial system of risk. That’s the view of Hao Hong, chief strategist at Bocom International Holdings Co. in Hong Kong who accurately called China’s boom-and-bust equity cycle of 2015. Tightening in the money markets as China seeks to reduce leverage saw the bond market sell off at the end of last year. Now it’s equities’ turn. After barely moving for most of March as traders chased gains in Hong Kong, mainland-traded shares have slumped this week ...

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Stocks struggle as French elections loom, North Korea worries

World stocks eked out small gains on Thursday as investors resisted risky bets ahead of the first round of the French presidential election over the weekend. Oil prices, which fell sharply on Wednesday on supply news, regained some of their losses. In general, markets cautiously stuck to well-worn trading ranges buffeted by concern over political risks and continued tensions over North Korea. Europe’s STOXX 600 rose 0.1 percent bolstered by strong sales reported by consumer sector bellwether Unilever . The FTSE 100, which has slid into negative territory for the ...

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Dollar edges down, euro resists French election volatility

The dollar inched lower against a basket of major currencies on Thursday, suffering from a solid performance by the euro before the first round of French presidential elections and from an improvement in sentiment towards Britain’s pound this week. The biggest mover overnight was the New Zealand dollar, jetting higher after inflation surged past 2 percent to its highest in five years, bolstering the case for a rise in kiwi interest rates over the next year. Attention is largely focused on the French vote, however. Despite a surge in measures ...

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Dollar rebounds from three-week low; sterling retreats

The dollar recovered on Wednesday, a day after hitting a three-week low against major currencies on lowered expectations for U.S. interest rate hikes and concerns about President Donald Trump’s ability to deliver a promised fiscal boost. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.31 percent at 99.81. It fell to 99.465, the lowest since March 28, on Tuesday. “It’s a reversion to normalcy after the market got caught running for the exits on long dollar positions,” said Greg Anderson, global head ...

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MARKETS SNAPSHOT FOR 19/04/17

NASDAQ-Adv: 1,728 Dec: 1,146 NYSE-Adv: 1,382 Dec: 1,590 (Source: Nasdaq)

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Markets Start to Ponder the $13 Trillion Gorilla in the Room

After heading into the uncharted territory of quantitative easing, the world’s central banks are starting to plan their course through the uncharted waters of quantitative tightening. How the Federal Reserve, European Central Bank and — eventually — the Bank of Japan handle the transition could make the difference between a global rerun of the 2013 “taper tantrum,” or the near undetectable market response to China’s run-down of U.S. Treasuries in recent years. Combined, the balance sheets of the three now total about $13 trillion, equating to greater than either China’s ...

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