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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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Goldman Says Growth Trumps Strong Euro for European Stocks

The thesis that a stronger euro is bad for European equities isn’t as clear-cut as many in the investment community believe. That’s the message from Goldman Sachs Group Inc., which says that a solid global economic backdrop can outweigh the threat that gains in the shared currency pose for earnings in the euro zone. While investors are starting to worry about the extent to which the euro will weigh on the region’s exporters, Goldman’s Christian Mueller-Glissmann says the currency’s advance doesn’t completely change the case for European equities. “It’s possible ...

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European Stocks Rebound From Three-Day Decline as Banks Advance

Gains in lenders boosted European stocks for the first time in four days, with earnings reports also moving some shares. The Stoxx Europe 600 Index rose 0.3 percent at 8:32 a.m. in London. Informa Plc and Segro Plc lifted media and real estate shares respectively, after reporting positive results. The Stoxx 600 and Germany’s DAX Index fell in recent sessions as allegations of collusion hit carmakers. The DAX was little changed on Tuesday. The Stoxx 600 is entering its busiest period of the earnings season so far, with about a ...

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Technology Stocks Lead Declines in Asia Ahead of Fed Meeting

Technology and industrial stocks dragged Asian shares lower for a second day as investors await the Federal Reserve’s statement after its Wednesday meeting. The MSCI Asia Pacific Index slipped 0.2 percent to 159.20 as of 4:48 p.m. in Hong Kong, with major gauges in the region trading in narrow ranges. Japan’s Topix fell 0.3 percent, while the Shanghai Composite Index closed 0.2 percent lower. Indian stocks hit yet another record as the NSE Nifty 50 Index briefly breached the record 10,000 mark amid better-than-expected earnings. Asia’s equity benchmark is running into resistance ...

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High-flying euro lays European shares low as oil picks up

The euro hit an almost two-year high against an ailing dollar on Monday, largely shrugging off data showing euro zone business growth slowed last month and weighing on exporters’ shares. Strength in the euro, which helped pitch the dollar to a 13-month low against a basket of major currencies, depressed European automakers, other sectors and major stock indexes, while Wall Street was also indicated lower. The euro touched $1.1684 in Asian trade, before pulling back to trade at $1.1648, down 0.2 percent on the day. The European single currency hit ...

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Pullback worries are not derailing Jim Paulsen’s bullish forecast for 2600 on the S&P 500

Wall Street bull Jim Paulsen isn’t downplaying risks that a stock market pullback is climbing. He acknowledges one will be in the cards… eventually. Right now, he’s arguing that the S&P 500 will get to 2600 this year before the rally suffers a setback. If his forecast proves correct, that means a five percent gain from current levels. “We’re going to continue to go higher for most of this year. We’ve got a pretty good environment where we’ve got real growth that’s okay — it’s not spectacular — but it’s ...

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Investors Underestimate Fed Unwind Risk, UBP’s Villamin Says

Bond market investors aren’t prepared for the full impact of the Federal Reserve’s planned unwinding of its balance sheet after years of asset purchases, according to Union Bancaire Privee Ubp SA’s Norman Villamin. With the Fed preparing to remove its support for the Treasury market as economic conditions improve, investors should brace for losses in fixed income, Villamin, the firm’s chief investment officer for private banking, said in an interview in Hong Kong this week. “The bond market is pricing in an environment where the Fed does almost nothing, and ...

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European Stocks Head for Weekly Drop as Exporters Slide on Euro

European exporters extended declines, sending benchmark stock indexes toward their first weekly drop since June, as weaker oil prices and a stronger euro undercut sentiment among investors who increasingly expect word later this year that monetary stimulus will be reigned in. The Stoxx Europe 600 Index fell 0.4 percent at 12:43 p.m. in London, with carmakers as the biggest losers. Banks and construction companies also declined. Friday is last trading day before some equity-index options expire. Options expiration can add to market volatility. The euro’s appreciation versus the dollar is ...

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Euro Rally Shows Few Signs of Stopping as Draghi Appears Unfazed

The euro’s rally may have only just begun. While the European Central Bank made few changes Thursday to its forward guidance and Mario Draghi said that policy makers were still waiting for wages and prices to match the region’s improving economic growth, the common currency rallied to its highest level in nearly two years. It’s the best performer among Group-of-10 currencies this year and could still have further to run with the bank likely to announce the scaling back of its quantitative easing program in either September or October. “It’s ...

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Asian Markets Cool Off Following Recent Surge

Australian dollar weighs ASX 200; energy stocks drag Nikkei Equities across the Asia-Pacific region were lower on Friday, taking a breather from the recent surge where gains in Australian shares lagged behind other indexes as sharp moves its currency plagued stocks. Australia’s S&P/ASX 200 was down 0.7%, as shares with exposure to export markets were pressured by worries about the impact of the Australian dollar’s rapid strengthening against the U.S. dollar. Though the Aussie dollar retreated slightly against the greenback Friday after hitting a two-year high on Wednesday, it was ...

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European Stocks Climb Amid Earnings as Investors Await Draghi

European stocks extended their biggest gain in a week as investors prepared for the European Central Bank’s rate decision and remarks by its president. The Stoxx Europe 600 Index climbed 0.3 percent at 8:29 a.m. in London. The benchmark is advancing for a second day after Tuesday’s selloff, the biggest in three weeks. Earnings reports are also providing impetus for stock traders this week. Equity investors are weaning themselves off reliance on the ECB to provide a floor to markets, instead focusing on corporate health. European stocks remain cheaper than ...

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Asian Stocks Extends Gains Ahead of ECB, BOJ Policy Reviews

Asian equities rose to the highest level in almost 10 years as the euro weakened and U.S. dollar remained near its one-year low on hopes the European Central Bank and Bank of Japan will keep policies supportive amid concerns over the pace of reforms in the U.S.. The MSCI Asia Pacific Index rose for an eighth straight day, adding 0.3 percent to 158.64 as of 4:32 p.m. in Hong Kong. Financial and technology shares were the top gainers. “The inability for the Republican party to legislate is putting downward pressure ...

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Technology Stocks Lead Asia Rally Amid Earnings Outlook Optimism

Asian equities rose, erasing earlier declines, as shares of software companies and chip makers gained on hopes that a weaker U.S. dollar may improve their outlook for earnings. The MSCI Asia Pacific Index rose for a seventh day in a row, adding 0.1 percent to 157.82 as of 4:38 p.m. in Hong Kong, heading toward its longest winning streak since March. The dollar slid to a 10-month low as Senate Majority Leader Mitch McConnell abandoned efforts to pass a broad Republican-only replacement of Obamacare. “Broad decline in U.S dollar amid less aggressive bets on Fed ...

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Europe Stocks Halt Three-Day Gain on Inflation Data; Miners Rise

European stocks snapped a winning streak as a report showed June consumer prices in the euro area were unchanged from a month earlier, while miners climbed after China’s economic growth exceeded estimates. The Stoxx Europe 600 Index fell 0.1 percent at 10:21 a.m. in London, erasing gains after the June inflation data. Industrial shares slid after the report, posting the worst declines among industry groups. Miners were the best performers, tracking copper prices higher. Investors in European equities are switching into stocks most geared to benefit from a pickup in ...

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China bulls keep stocks near record high

Strong data from China kept world shares near a record high on Monday, sent copper to a 4-1/2 month peak and left emerging market stocks buyers cheering a near five percent gain in the last five days. Figures from Beijing showed China’s economy grew at a faster-than-forecast 6.9 percent year-on-year in the second quarter thanks to a pick-up in industrial output and domestic consumption and as investment remained strong. Asia shares <.MIAPJ0000PUS> had hit a 2-year high overnight and Europe’s bourses <0#.INDEXE> rose early on as they looked to score ...

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