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European Stocks Hold Steady After Longest Slump Since November

European stocks were little changed, after a four-day decline, as losses in commodity producers offset further gains in builders. The Stoxx Europe 600 Index climbed less than 0.2 percent at 8:32 a.m. in London. The benchmark trimmed intraday declines on Monday as construction companies rallied on U.S. President Donald Trump’s comments about “big” spending on infrastructure. Investors are seeking details of his economic plans from his address to a joint session of Congress, due after European markets close. “While markets no doubt appear to like what they are hearing, the ...

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Asian shares on track for monthly gains, await Trump policy speech

Asian shares lost their grip on Tuesday but were still on track for a winning month, bolstered by gains on Wall Street as investors awaited a speech by U.S. President Donald Trump for signals on tax reform and infrastructure spending. In Europe, Germany’s DAX and Britain’s FTSE were expected to open higher. MSCI’s broadest index of Asia-Pacific shares outside Japan erased earlier modest gains and edged down slightly by mid-afternoon. But it was still up more than 3 percent this month and more than 9 percent for the year so ...

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MARKETS SNAPSHOT FOR 27/02/17

NASDAQ-Adv: 1,883 Dec: 1,022 NYSE-Adv: 1,814 Dec: 1,181 (Source: Nasdaq)

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Dollar steady before Trump speech, yen weakens

The U.S. dollar was steady against a basket of currencies on Monday ahead of a busy week that will include a speech by U.S. President Donald Trump on the economy and numerous comments from Federal Reserve officials. Treasury Secretary Steven Mnuchin said on Sunday that Trump, in an address to Congress on Tuesday, will preview some elements of his plans to cut taxes for the middle class, simplify the tax system and make U.S. companies more globally competitive. Some investors are worried, however, that specific economic plans may be scarce ...

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China Will Allow More IPOs to Lure Capital, Regulator Says

China will allow more companies to list on its stock market to boost support for its economy, the nation’s top securities regulator said, dismissing concerns that more supplies of shares can depress the market. The capital market’s recovery from a 2015 rout has been stronger than expected and is now ready for “appropriately” larger supplies of initial public offerings, China Securities Regulatory Commission Chairman Liu Shiyu said Sunday in Beijing, citing a “mainstream” view. The regulator’s faster approval of IPOs last year had been “welcomed” by the market, he said, ...

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Record-setting stock rally faces test in Trump speech

U.S. President Donald Trump’s planned economic agenda has fanned the flames for Wall Street’s record-setting run, but some investors worry that his first major address to Congress next week risks dousing it if his plans look slow to execute or are overly vague. The benchmark S&P 500 has surged 10 percent since Trump’s Nov. 8 election, with optimism running high over the Republican administration’s domestic proposals, including plans to reform taxes paid by businesses. But there have been few specifics so far, and some investors believe Trump may need to ...

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Investors pile into stocks, closer to ‘sell’ territory -BAML

The rise in world stocks this week to fresh all-time highs drew an eighth straight weekly inflow into equity funds, Bank of America Merrill Lynch said, while bond funds also chalked up their ninth straight weekly inflow. The $8.5 billion equity fund inflow in the week to February 22 pushed BAML’s “Bull & Bear” indicator deeper into bullish territory and closer to levels that generate a contrarian ‘sell’ signal. For that to happen, however, investors need to reduce their cash holdings a little further and buy more emerging market and ...

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The Trump Team’s Evolving Currency-Market Rhetoric: A Timeline

U.S. Said to Eye Plan for China Currency Manipulation Donald Trump continues to be perhaps the biggest single influence over the dollar, more than three months after his shock election victory. While policy pledges drove the greenback’s 3.9 percent gain in November, its best rally in more than two years, pronouncements on the currency, and its peers, from him and his administration have whiplashed traders over the past six weeks. Treasury Secretary Steven Mnuchin has also helped muddy the waters at times, either on his own or in combination with ...

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Dollar falls vs yen on U.S. policy doubts

The U.S. dollar fell to a more than two-week low against the Japanese yen on Friday as investors doubted the likelihood of swift tax reform and a quick spending boost from U.S. President Donald Trump’s administration. On Thursday, U.S. Treasury Secretary Steven Mnuchin suggested that much work was still needed on key elements of a tax reform plan, one of the policies investors had anticipated would spur inflation and drive up U.S. interest rates. Analysts noted that Federal Reserve meeting minutes released on Wednesday reinforced doubts about a rate hike ...

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MARKETS SNAPSHOT FOR 24/02/17

NASDAQ-Adv: 1,336 Dec: 1,557 NYSE-Adv: 1,555 Dec: 1,447 (Source: Nasdaq)

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Asian Emerging Market Stocks Poised to Relive Glory Days: Old Mutual

After shrugging off their U.S. election hangover, Asia’s emerging-market stocks scrub up rather well. That is the view of Joshua Crabb, head of Asian equities at a unit of Old Mutual Plc, who draws hope from 10 to 15 years ago, when the U.S. Federal Reserve embarked on a series of interest-rate increases and Asia Pacific ex-Japan stocks stormed higher. “If you look at the period between 2003 and 2007 we saw a very similar scenario — a well-valued U.S. and a stronger global economy and Asia actually performed very ...

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Banks, BASF weigh on European shares at end of positive week

European shares slipped on Friday with banks falling and German chemical heavyweight BASF being hit by an underwhelming outlook. The STOXX 600 was down 0.4 percent. The index did, however, remain near its 14-month high hit on Wednesday and was set for its third positive week in a row – a rally fuelled by solid company updates and upbeat economic data. BASF fell 3.1 percent, the biggest drag on the STOXX. The world’s largest chemicals group said it would return to earnings growth after higher petrochemical prices bolstered fourth-quarter profit. ...

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Stocks ease, dollar poised for weekly loss as Trump rally pauses

Commodity-related sectors led European shares lower for a third straight session on Friday while the dollar was poised for a weekly losses as the “Trumpflation trade” lost momentum. World stocks have hit record highs, emerging markets have come back in favor and the dollar has climbed to a 14-year peak in recent weeks on the back of expectations that U.S. President Donald Trump’s economic agenda will stoke growth and inflation. New U.S. Treasury Secretary Steven Mnuchin took the edge off that optimism overnight when he said any policy steps by ...

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Dollar slips as ‘Trumpflation trade’ fades

The dollar slipped on Friday and was set for its first week of falls in three, after the new U.S. finance chief poured a little cold water on the “Trumpflation trade” that had taken the greenback to 14-year highs earlier this year. Treasury Secretary Steven Mnuchin said on Thursday that any steps that U.S. President Donald Trump’s administration takes on policy would probably have only a limited impact this year, though he wants to see tax reform passed before by August. The comments — made in his first televised interviews ...

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Dollar dips on Mnuchin tax comments, Fed expectations

The U.S. dollar fell against a basket of major currencies on Thursday on a perceived lack of progress on U.S. tax reform, while Wednesday’s more dovish-than-expected Federal Reserve meeting minutes continued to weigh on the greenback. The dollar fell as much as 0.6 percent against the yen to a two-week low of 112.55 yen JPY=, while the euro rose as much as 0.4 percent against the dollar to $1.0595 EUR=. Concerns over politics on both sides of the Atlantic helped the safe-haven yen, with anti-EU French presidential candidate Marine Le ...

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