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Saudi Arabia stocks lower at close of trade; Tadawul All Share unchanged

अगस्त 21, 2018, 01:15

Investing.com – Saudi Arabia stocks were lower after the close on Tuesday, as in the sectors led shares .

At the close in Saudi Arabia, the Tadawul All Share unchanged 0.00%.

The best performers of the session on the Tadawul All Share were Al Baha Investment and Development Company SJSC (SE:4130), which rose 1.16% or 0.18 points to trade at 15.64 at the close. Meanwhile, Al Mashaar REIT (SE:4337) unchanged 0.00% or 0.00 points to end at 7.63 and The Mediterranean&Gulf Insurance Co (SE:8030) was unchanged 0.00% or 0.00 points to 20.90 in late trade.

The worst performers of the session were Al Mashaar REIT (SE:4337), which unchanged 0.00% or 0.00 points to trade at 7.63 at the close. Malath Cooperative Insurance Co (SE:8020) unchanged 0.00% or 0.00 points to end at 13.88 and The Mediterranean&Gulf Insurance Co (SE:8030) was 0.00% or 0.00 points to 20.90.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 0 to 0.

Crude oil for October delivery was up 1.22% or 0.80 to $66.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.79% or 0.57 to hit $72.78 a barrel, while the December Gold Futures contract rose 0.26% or 3.10 to trade at $1197.70 a troy ounce.

EUR/SAR was up 0.19% to 4.3153, while USD/SAR fell 0.02% to 3.7501.

The US Dollar Index Futures was down 0.16% at 95.53.

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Bitcoin Remains Bearish as Cryptos Fall

अगस्त 21, 2018, 12:13

Investing.com - Cryptocurrencies continued to fall on Tuesday, as Bitcoin remained in bearish territory.

Bitcoin fell 0.56% to $6,405.60 on the Bitfinex exchange, as of 8:13 AM ET (12:13 GMT).

Cryptocurrencies overall were down, with the coin market cap of total market capitalization was at $210 billion at the time of writing compared to $212 billion on Monday.

Ethereum, the second biggest alternative currency by market cap, fell 3.84% to $280.18 while Ripple, the third largest virtual currency, decreased 2.02% to $0.32992 and Litecoin was at $55.50, down 1.46%.

In other news, trading volumes at virtual currency exchange Coinbase fell by 83% to $3.9 billion from their all-time high of nearly $21 billion in January. Financial research company Bernstein said in a recent report that Coinbase could end up with an “unassailable competitive position” as traditional financial firms are unlikely to push into crypto spot trading in the near future due to worry over regulations and money laundering.

Still, exchanges are likely to double the amount of money they made last year, despite the fall in bitcoin and other digital coins, the report from Bernstein found, with Coinbase receiving about 50% of total revenues. Revenue at digital exchanages could increase to as much as $4 billion in 2018, compared to $1.8 billion in 2017.

Meanwhile, the volume of bitcoin futures listed at CME Group (NASDAQ:CME) doubled in July and rose in August, while Chicago-based rival Bitcoin Futures CBOE failed to grow as much, the Financial Times reported. The two exchanges are under pressure as a third company, Intercontinental Exchange, plans to offer its own bitcoin futures in November.

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Stocks - Discount Brokers Plunge in Pre-market, Toll Brothers Soars

अगस्त 21, 2018, 12:03

Investing.com - Stocks in focus in pre-market trade Tuesday:

• TD Ameritrade (NASDAQ:AMTD) stock tumbled 5.90%, Charles Schwab (NYSE:SCHW) fell 4.38% and E-TRADE Financial Corporation (NASDAQ:ETFC) sank 5.63% by 8:10 AM ET (12:10 GMT) as JPMorgan Chase (NYSE:JPM) announced it would offer free trades via a new investing app.

Toll Brothers (NYSE:TOL) stock jumped 6.54% as the company reported fiscal third quarter results that beat on the top and bottom line.

• Tesla (NASDAQ:TSLA) stock gained 0.77% despite a Wall Street Journal report that 18 of 22 respondents in a survey of suppliers think the auto maker is a financial risk to their companies.

Twitter Inc (NYSE:TWTR) stock advanced 0.49% and Facebook (NASDAQ:FB) stock rose 0.52% despite U.S. President Donald Trump’s warning that it was “very dangerous” for social media companies to silence voices on their platforms.

• Kohl’s (NYSE:KSS) traded down 1.92% despite reporting better-than-expected second quarter numbers and lifting its full-year guidance.

• JM Smucker (NYSE:SJM) stock dropped 0.32% as fiscal first quarter revenue came in slightly below expectations.

Medtronic (NYSE:MDT) stock jumped 3.77% after fiscal first quarter results beat consensus.

Fabrinet (NYSE:FN) stock soared 7.39% as the company reported better-than-expected quarterly results.

• J.Jill Inc (NYSE:JILL) stock plummeted 11.11% after the company forecast that fiscal third quarter comparable sales would fall 2% to 4%.

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United Arab Emirates stocks higher at close of trade; DFM General up 0.44%

अगस्त 21, 2018, 11:15

Investing.com – United Arab Emirates stocks were higher after the close on Tuesday, as gains in the Consumer Staples, Banking and Insurance sectors led shares higher.

At the close in Dubai, the DFM General rose 0.44%, while the ADX General index unchanged 0.00%.

The best performers of the session on the DFM General were AJMAN BANK PJSC (DU:AJBNK), which rose 3.30% or 0.030 points to trade at 0.940 at the close. Meanwhile, DXB Entertainments (P.J.S.C.) (DU:DXBE) added 2.34% or 0.008 points to end at 0.350 and Emirates NBD PJSC (DU:ENBD) was up 2.25% or 0.200 points to 9.100 in late trade.

The worst performers of the session were Amanat Holdings PJSC (DU:AMANT), which fell 8.62% or 0.100 points to trade at 1.060 at the close. Emirate Integrated Telecom Co PJSC (DU:DU) declined 1.36% or 0.070 points to end at 5.060 and Amlak Finance PJSC (DU:AMLK) was down 1.21% or 0.008 points to 0.654.

The top performers on the ADX General were Sharjah Group Co (AD:SG) which unchanged 0.00% to 1.30, Finance House (AD:FH) which was unchanged 0.00% to settle at 1.680 and Emirates Ins C (AD:EIC) which unchanged 0.00% to close at 7.20.

The worst performers were Sharjah Group Co (AD:SG) which was unchanged 0.00% to 1.30 in late trade, Finance House (AD:FH) which unchanged 0.00% to settle at 1.680 and Emirates Ins C (AD:EIC) which was unchanged 0.00% to 7.20 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 0 to 0; on the Abu Dhabi, 0 fell and 0 advanced.

Shares in Amanat Holdings PJSC (DU:AMANT) fell to 52-week lows; losing 8.62% or 0.100 to 1.060. Shares in Amlak Finance PJSC (DU:AMLK) fell to all time lows; down 1.21% or 0.008 to 0.654.

Crude oil for October delivery was up 0.12% or 0.08 to $65.50 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.29% or 0.21 to hit $72.42 a barrel, while the December Gold Futures contract rose 0.43% or 5.10 to trade at $1199.70 a troy ounce.

USD/AED was unchanged 0.00% to 3.6732, while EUR/AED rose 0.29% to 4.2304.

The US Dollar Index Futures was down 0.22% at 95.47.

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Stocks- U.S. Futures Increase on Hope of U.S.-China Trade Talks

अगस्त 21, 2018, 10:51

Investing.com – U.S. futures were higher on Tuesday, as hope that the U.S. and China will tone down trade hostilities pushed the S&P and Nasdaq near all-time highs.

The S&P 500 futures rose 5 points, or 0.18%, to 2,863.75 as of 6:50 AM ET (10:50 GMT) while Dow futures were up 54 points, or 0.21%, to 25,812.0. Meanwhile tech heavy Nasdaq 100 futures increased 20 points, or 0.28%,to 7,407.75.

U.S. and Chinese officials are expected to meet in Washington on Wednesday and Thursday to discuss trade disagreements, shortly before the latest round of trade tariffs go into effect.

However, U.S. President Donald Trump told Reuters that he does not expect much progress from the talks, dampening expectations that an agreement will be reached before the tariff deadline.

In earnings news, a handful of retailers are expected to report their earnings before the opening bell, including Kohl’s Corporation (NYSE:KSS) and TJ Maxx parent company TJX Companies (NYSE:TJX).

Technology stocks were among the top gainers in pre-market trading, with Tesla (NASDAQ:TSLA) rising 1.82% and Facebook (NASDAQ:FB) up 0.23%. Chinese e-commerce company Jd.Com Inc Adr (NASDAQ:JD) surged 2.14% while Apple (NASDAQ:AAPL) gained 0.66%.

Elsewhere Sodastream International Ltd (NASDAQ:SODA) fell 0.35% while Perrigo Co (NYSE:PRGO) dipped 0.70%.

In Europe stocks were mostly higher. Germany’s DAX rose 89 points or 0.73% while in France the CAC 40 increased 41 points or 0.78% and in London, the FTSE 100 was down 29 points or 0.39%. Meanwhile the pan-European Euro Stoxx 50 gained 23 points or 0.69% while Spain’s IBEX 35 surged 102 points or 1.08%.

In commodities, gold futures rose 0.49% to $1,200.40 a troy ounce while crude oil futures inched up 0.03% to $65.44 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.25% to 95.44.

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Sri Lanka stocks lower at close of trade; CSE All-Share down 0.06%

अगस्त 21, 2018, 10:45

Investing.com – Sri Lanka stocks were lower after the close on Tuesday, as losses in the Footwear&Textile, Trading and Healthcare sectors led shares lower.

At the close in Colombo, the CSE All-Share declined 0.06% to hit a new 52-week low.

The best performers of the session on the CSE All-Share were Adam Investments Ltd (CM:ADAM), which rose 50.00% or 0.100 points to trade at 0.300 at the close. Meanwhile, SMB Leasing PLC (CM:SEMB) added 25.00% or 0.1000 points to end at 0.5000 and PCH Holdings PLC (CM:PCHH) was up 25.00% or 0.100 points to 0.500 in late trade.

The worst performers of the session were Beruwala Resorts PLC (CM:BERU), which fell 14.29% or 0.100 points to trade at 0.600 at the close. Muller&Phipps PLC (CM:MULL) declined 12.50% or 0.100 points to end at 0.700 and Kelani Valley Plantations PLC (CM:KVAL) was down 10.83% or 8.50 points to 70.00.

Falling stocks outnumbered advancing ones on the Colombo Stock Exchange by 103 to 73 and 48 ended unchanged.

Shares in Beruwala Resorts PLC (CM:BERU) fell to all time lows; down 14.29% or 0.100 to 0.600.

Crude oil for October delivery was up 0.15% or 0.10 to $65.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.36% or 0.26 to hit $72.47 a barrel, while the December Gold Futures contract rose 0.52% or 6.20 to trade at $1200.80 a troy ounce.

GBP/LKR was up 0.59% to 206.095, while USD/LKR rose 0.08% to 160.640.

The US Dollar Index Futures was down 0.28% at 95.41.

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India stocks higher at close of trade; Nifty 50 up 0.17%

अगस्त 21, 2018, 10:45

Investing.com – India stocks were higher after the close on Tuesday, as gains in the Power, Healthcare and IT sectors led shares higher.

At the close in NSE, the Nifty 50 gained 0.17% to hit a new all time high, while the BSE Sensex 30 index gained 0.02%.

The best performers of the session on the Nifty 50 were UPL Ltd (NS:UPLL), which rose 4.41% or 27.30 points to trade at 646.20 at the close. Meanwhile, Tech Mahindra Ltd (NS:TEML) added 3.12% or 21.45 points to end at 709.40 and Coal India Ltd (NS:COAL) was up 2.52% or 7.15 points to 291.40 in late trade.

The worst performers of the session were Tata Steel Ltd (NS:TISC), which fell 2.88% or 17.25 points to trade at 582.15 at the close. Bharat Petroleum Corp. Ltd. (NS:BPCL) declined 1.92% or 7.20 points to end at 368.75 and Hindustan Unilever Ltd. (NS:HLL) was down 1.38% or 24.50 points to 1752.50.

The top performers on the BSE Sensex 30 were Coal India Ltd (BO:COAL) which rose 2.59% to 291.55, AXIS Bank Ltd. (BO:AXBK) which was up 1.92% to settle at 636.20 and NTPC Ltd (BO:NTPC) which gained 1.70% to close at 161.20.

The worst performers were Tata Steel Ltd (BO:TISC) which was down 2.86% to 582.25 in late trade, Hindustan Unilever Ltd. (BO:HLL) which lost 1.30% to settle at 1752.40 and Vedanta Ltd (BO:VDAN) which was down 1.17% to 219.20 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 832 to 792 and 47 ended unchanged; on the Bombay Stock Exchange, 1353 fell and 1281 advanced, while 160 ended unchanged.

Shares in AXIS Bank Ltd. (BO:AXBK) rose to 3-years highs; gaining 1.92% or 12.00 to 636.20.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 1.00% to 12.9025.

Gold Futures for December delivery was up 0.51% or 6.10 to $1200.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.15% or 0.10 to hit $65.52 a barrel, while the October Brent oil contract rose 0.36% or 0.26 to trade at $72.47 a barrel.

USD/INR was up 0.06% to 69.805, while EUR/INR rose 0.39% to 80.4855.

The US Dollar Index Futures was down 0.26% at 95.43.

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.88%

अगस्त 21, 2018, 10:15

Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Basic Industry, Consumer Industry and Manufacturing sectors led shares higher.

At the close in Jakarta, the IDX Composite Index rose 0.88%.

The best performers of the session on the IDX Composite Index were Andira Agro Tbk PT (JK:ANDI), which rose 25.00% or 106 points to trade at 530 at the close. Meanwhile, Pembangunan Graha Lestari Tbk (JK:PGLI) added 24.62% or 49 points to end at 248 and MD Pictures Tbk PT (JK:FILM) was up 13.60% or 185 points to 1545 in late trade.

The worst performers of the session were Sidomulyo Selaras Tbk (JK:SDMU), which fell 15.53% or 16 points to trade at 87 at the close. Multi Prima Sejahtera Tbk (JK:LPIN) declined 11.06% or 120 points to end at 965 and Pyridam Farma Tbk (JK:PYFA) was down 10.05% or 19 points to 170.

Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 211 to 157 and 125 ended unchanged.

Shares in Andira Agro Tbk PT (JK:ANDI) rose to all time highs; up 25.00% or 106 to 530. Shares in Sidomulyo Selaras Tbk (JK:SDMU) fell to all time lows; down 15.53% or 16 to 87. Shares in Pembangunan Graha Lestari Tbk (JK:PGLI) rose to all time highs; up 24.62% or 49 to 248. Shares in MD Pictures Tbk PT (JK:FILM) rose to all time highs; up 13.60% or 185 to 1545. Shares in Pyridam Farma Tbk (JK:PYFA) fell to 52-week lows; losing 10.05% or 19 to 170.

Crude oil for October delivery was up 0.03% or 0.02 to $65.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.17% or 0.12 to hit $72.33 a barrel, while the December Gold Futures contract rose 0.44% or 5.30 to trade at $1199.90 a troy ounce.

USD/IDR was up 0.17% to 14598.2, while AUD/IDR fell 0.47% to 10632.30.

The US Dollar Index Futures was down 0.22% at 95.47.

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Top 5 Things to Know in The Market on Tuesday

अगस्त 21, 2018, 09:40

Investing.com - Here are the top five things you need to know in financial markets on Tuesday, August 21:

1. Dollar Drops on Trump Fed Criticism

The U.S. dollar was broadly lower against a basket of the other major currencies, after President Donald Trump reiterated his displeasure at the Federal Reserve's monetary policy.

Just before the market close on Monday, Reuters published an interview with Trump during which the president said he was “not thrilled” with Fed Chairman Jerome Powell for raising rates and added that the Fed should do more to help him to boost the economy.

“We’re negotiating very powerfully and strongly with other nations. We’re going to win. But during this period of time I should be given some help by the Fed. The other countries are accommodated,” Trump said.

This is not the first time Trump has called out the Fed for raising rates. When he did so in July, Powell stressed that the Fed operated independently of political considerations.

The president's latest criticism of the Fed comes three days before Friday's much anticipated speech by Powell at the central bank's annual Jackson Hole Symposium.

The Fed has been hiking rates and is expected to continue doing so, with another two increases expected this year.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.2% to 95.50, after touching an overnight low of 95.31, a level not seen since August 9.

The index is facing its fifth straight losing session, which would mark the first such streak since the start of the year.

In the bond market, Treasury prices slipped, pushing yields a tad higher across the curve. The benchmark 10-year yield ticked up to around 2.835% while the 2-year yield rose to 2.605%.

Elsewhere in foreign exchange markets, the euro rose 0.3% to 1.1520, after climbing as high as 1.1541 overnight.

The offshore Chinese yuan was 0.2% stronger against the greenback at 6.8420.

Trump also accused China and Europe of manipulating their respective currencies.

2. Trump Pessimistic on This Week's China Trade Talks

On the trade front, Trump told Reuters that he does not expect much progress from talks with China this week in Washington, dashing hopes it will lead to an easing of their ongoing trade conflict.

Trump said Chinese negotiators would be arriving shortly, adding he did not "anticipate much" from the mid-level discussions.

A nine-member delegation from Beijing, led by Vice Commerce Minister Wang Shouwen, will hold meetings with U.S. officials led by the Treasury undersecretary, David Malpass, in Washington on Wednesday and Thursday.

Washington and Beijing have been locked in escalating rounds of tit-for-tat tariffs since the start of the year, with $34 billion in goods targeted by each country and another $16 billion slated to go into effect this week.

Trump has threatened further tariffs on exports worth as much as $500 billion, as he tries to reduce a trade deficit and protect intellectual property rights.

3. U.S. Stock Futures Tick Higher; S&P, Nasdaq Eye Records

On Wall Street, U.S. stock futures pointed to a higher open, with the S&P and Nasdaq set to edge closer to their respective all-time highs.

The blue-chip Dow futures were up 48 points, or around 0.2%, at 5:40AM ET, the S&P 500 futures tacked on 4 points, or around 0.1%, while the tech-heavy Nasdaq 100 futures indicated a gain of 14 points, or roughly 0.2%.

At current levels, the S&P is less than 0.6% below all-time highs set in January, while the Nasdaq is 1.4% below its record, last reached in late July.

Elsewhere, in Europe, the majority of the region's major bourses were higher in mid-morning trade, with most sectors in positive territory.

Earlier, Chinese markets led gains in a mostly positive trading session across Asia, after the country's banking regulator urged institutions to boost lending in the country, the latest in Beijing's effort to boost policy stimulus.

4. Kohl's, TJX Reports Earnings

The second quarter earnings season has all but wound down, however results today are expected from a couple of retailers, including Kohl’s (NYSE:KSS) and TJ Maxx parent company TJX Companies (NYSE:TJX).

Both are due to post earnings ahead of Tuesday's opening bell.

Wall Street analysts expect same-store sales at Kohl’s rose 2.7% during the second quarter while TJX’s same-store sales are projected to rise 2.4%, according to estimates.

Shares of both companies have outperformed the S&P 500 handily over the last year, with TJX rising 41% over that period while Kohl’s stock has more than doubled.

Other companies reporting results ahead of the opening bell include Toll Brothers (NYSE:TOL), and Smuckers (NYSE:SJM).

After the close, Urban Outfitters (NASDAQ:URBN), and Red Robin (NASDAQ:RRGB) are on deck.

5. Metals Lead Commodities Higher Once Again

Commodities that are priced in dollars and so benefit from any weakness were higher across the board, with metals leading the charge once again.

Gold futures rose 0.5% to $1,200.60 an ounce, extending gains into a third session.

Copper climbed for a second day, rising around 1% to $2.695 a pound.

Among other metals, silver climbed 0.8% to $14.78 an ounce. Platinum rose 0.8% to $800.10, while palladium added 0.8% to $906.00.

Oil prices were slightly lower however, amid worries over a slowdown in global demand.

The American Petroleum Institute is due to release its weekly report for the week ended August 10 at 4:30PM ET.

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Philippines stocks lower at close of trade; PSEi Composite down 1.09%

अगस्त 21, 2018, 08:35

Investing.com – Philippines stocks were lower after the close on Tuesday, as losses in the Holding Firms, Mining&Oil and Industrials sectors led shares lower.

At the close in Philippines, the PSEi Composite lost 1.09%.

The best performers of the session on the PSEi Composite were LT Group Inc (PS:LTG), which rose 1.14% or 0.200 points to trade at 17.700 at the close. Meanwhile, First Gen Corp (PS:FGEN) added 0.78% or 0.12 points to end at 15.52 and Globe Telecom Inc (PS:GLO) was up 0.76% or 15.00 points to 1985.00 in late trade.

The worst performers of the session were Ayala Corp (PS:AC), which fell 4.40% or 44.00 points to trade at 955.00 at the close. JG Summit Holdings Inc (PS:JGS) declined 4.11% or 2.200 points to end at 51.300 and Manila Electric Co (PS:MER) was down 3.53% or 12.80 points to 350.20.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 0 to 0.

Gold Futures for December delivery was up 0.51% or 6.10 to $1200.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.03% or 0.02 to hit $65.44 a barrel, while the October Brent oil contract rose 0.21% or 0.15 to trade at $72.36 a barrel.

CNY/PHP was up 0.15% to 7.7957, while USD/PHP rose 0.02% to 53.334.

The US Dollar Index Futures was down 0.24% at 95.45.

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Japan stocks higher at close of trade; Nikkei 225 up 0.09%

अगस्त 21, 2018, 08:35

Investing.com – Japan stocks were higher after the close on Tuesday, as gains in the Paper&Pulp, Chemical and Pharmaceutical Industry sectors led shares higher.

At the close in Tokyo, the Nikkei 225 gained 0.09%.

The best performers of the session on the Nikkei 225 were Tokai Carbon Co., Ltd. (T:5301), which rose 4.37% or 78.0 points to trade at 1861.0 at the close. Meanwhile, Terumo Corp. (T:4543) added 3.09% or 180.0 points to end at 6010.0 and Yaskawa Electric Corp. (T:6506) was up 2.56% or 90.0 points to 3600.0 in late trade.

The worst performers of the session were Familymart Ltd (T:8028), which fell 5.47% or 560.0 points to trade at 9670.0 at the close. KDDI Corp. (T:9433) declined 5.22% or 162.5 points to end at 2953.5 and NTT Docomo, Inc. (T:9437) was down 4.00% or 117.5 points to 2820.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2396 to 1004 and 197 ended unchanged.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 1.28% to 17.02.

Crude oil for October delivery was up 0.03% or 0.02 to $65.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.19% or 0.14 to hit $72.35 a barrel, while the December Gold Futures contract rose 0.50% or 6.00 to trade at $1200.60 a troy ounce.

USD/JPY was up 0.11% to 110.19, while EUR/JPY rose 0.44% to 126.94.

The US Dollar Index Futures was down 0.24% at 95.45.

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Dollar Broadly Lower after Trump Criticizes Fed Rate Hikes

अगस्त 21, 2018, 07:56

Investing.com - The U.S. dollar was broadly lower against a basket of the other major currencies on Tuesday after President Donald Trump said he disagreed with the Federal Reserve's decision to raise interest rates.

The dollar was also softer ahead of expected trade talks between Chinese and U.S. officials in Washington in the coming days that investors hope will ease tensions between the world’s two largest economies.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.2% to 95.5 by 03:53 AM ET (07:53 AM GMT) after touching an overnight low of 95.31, the weakest level since August 9.

The dollar weakened after Trump said in an interview with Reuters on Monday that he was "not thrilled" with Fed Chairman Jerome Powell for raising rates and added that the Fed should do more to help him to boost the economy.

Trump nominated Powell to succeed former Fed Chair Janet Yellen earlier this year.

The president said he would criticize the Fed if it continues to raise rates. The Fed has been hiking rates and is expected to continue doing so, with another two increases expected this year.

Trump also accused China and Europe of manipulating their respective currencies and said he did not expect much progress from this week’s trade talks with Chinese officials.

The comments come ahead of Wednesday’s minutes of the Fed’s August meeting, with investors on the lookout for any tweaks to the Fed’s outlook on inflation, the economy and trade war fears.

On Friday, Jerome Powell is to make his first appearance as Fed chairman at the annual economic symposium in Jackson Hole.

The dollar was flat against the safe haven yen, with USD/JPY at 110.08, after touching a two-month low of 109.78 overnight.

The euro pushed higher, with EUR/USD last at 1.1513 after rising as high as 1.1541 overnight.

The single currency plumbed 13-month lows against the dollar last week amid fears over contagion effects on European banks from Turkey’s currency crisis.

The Turkish lira was lower in thin trade, with Turkish financial markets closed for holidays for the week. The lira came under renewed selling pressure after Trump said there will be "no concessions" in a standoff with Turkey over a detained U.S. pastor.

Meanwhile, the pound gained ground, with GBP/USD rising 0.26% to 1.2828.

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China stocks higher at close of trade; Shanghai Composite up 1.31%

अगस्त 21, 2018, 07:35

Investing.com – China stocks were higher after the close on Tuesday, as gains in the Travel&Leisure, Life Insurance and Oil Equipment Services&Distribution sectors led shares higher.

At the close in Shanghai, the Shanghai Composite gained 1.31%, while the SZSE Component index added 1.60%.

The best performers of the session on the Shanghai Composite were Beih-Property Co Ltd (SS:600791), which rose 10.13% or 0.390 points to trade at 4.240 at the close. Meanwhile, Yibin Paper Industry Co Ltd (SS:600793) added 10.02% or 1.65 points to end at 18.12 and DELIXI XINJIANG Transportation Co Ltd (SS:603032) was up 10.01% or 1.18 points to 12.97 in late trade.

The worst performers of the session were MeiDu Energy Corp (SS:600175), which fell 10.09% or 0.340 points to trade at 3.030 at the close. Gangtai Holdin (SS:600687) declined 10.02% or 0.820 points to end at 7.360 and Shangying Global Co Ltd (SS:600146) was down 10.01% or 1.46 points to 13.12.

The top performers on the SZSE Component were Jiangsu Sanyou Group Co Ltd (SZ:002044) which rose 10.00% to 15.84, Chongqing Zhifei Bio Products (SZ:300122) which was up 9.15% to settle at 41.97 and Livzon Pharmaceutical Group Inc (SZ:000513) which gained 8.57% to close at 38.65.

The worst performers were Yinyi Real Estate Co Ltd (SZ:000981) which was down 10.06% to 6.26 in late trade, Jiangsu Aucksun Co Ltd (SZ:002245) which lost 8.56% to settle at 4.70 and Shandong Qixing Iron Tower Co Ltd (SZ:002359) which was down 5.52% to 18.50 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 1181 to 205 and 55 ended unchanged.

Shares in MeiDu Energy Corp (SS:600175) fell to 5-year lows; down 10.09% or 0.340 to 3.030. Shares in Gangtai Holdin (SS:600687) fell to 3-years lows; falling 10.02% or 0.820 to 7.360. Shares in Shangying Global Co Ltd (SS:600146) fell to 3-years lows; falling 10.01% or 1.46 to 13.12. Shares in Yinyi Real Estate Co Ltd (SZ:000981) fell to 5-year lows; losing 10.06% or 0.70 to 6.26. Shares in Jiangsu Aucksun Co Ltd (SZ:002245) fell to 3-years lows; falling 8.56% or 0.44 to 4.70. Shares in Shandong Qixing Iron Tower Co Ltd (SZ:002359) fell to 52-week lows; losing 5.52% or 1.08 to 18.50.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was down 8.17% to 23.27.

Gold Futures for December delivery was up 0.51% or 6.10 to $1200.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.05% or 0.03 to hit $65.45 a barrel, while the October Brent oil contract rose 0.07% or 0.05 to trade at $72.26 a barrel.

USD/CNY was down 0.21% to 6.8443, while EUR/CNY rose 0.03% to 7.8774.

The US Dollar Index Futures was down 0.20% at 95.49.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.87%

अगस्त 21, 2018, 06:45

Investing.com – Taiwan stocks were higher after the close on Tuesday, as gains in the Textile, Machinery and Trading&Consumer Goods sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 0.87%.

The best performers of the session on the Taiwan Weighted were Li Cheng Enterprise Co Ltd (TW:4426), which rose 9.99% or 3.60 points to trade at 39.65 at the close. Meanwhile, Bestec Power Electronics Co Ltd (TW:3308) added 9.95% or 0.79 points to end at 8.73 and Green Seal Holding Ltd (TW:1262) was up 9.87% or 3.10 points to 34.50 in late trade.

The worst performers of the session were Tung Kai Technology Engineering Co Ltd (TW:3018), which fell 9.91% or 4.50 points to trade at 40.90 at the close. Sumagh High Tech Corp (TW:1475) declined 9.78% or 1.75 points to end at 16.15 and Hotel Holiday Garden (TW:2702) was down 9.59% or 1.65 points to 15.55.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 592 to 215 and 115 ended unchanged.

Shares in Tung Kai Technology Engineering Co Ltd (TW:3018) fell to 52-week lows; down 9.91% or 4.50 to 40.90. Shares in Sumagh High Tech Corp (TW:1475) fell to 52-week lows; losing 9.78% or 1.75 to 16.15.

Crude oil for October delivery was up 0.15% or 0.10 to $65.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.10% or 0.07 to hit $72.14 a barrel, while the December Gold Futures contract rose 0.59% or 7.00 to trade at $1201.60 a troy ounce.

USD/TWD was down 0.06% to 30.703, while TWD/CNY rose 0.13% to 0.2244.

The US Dollar Index Futures was down 0.25% at 95.44.

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Vanke’s First Half Profit Rises 25% to $1.3B; Revenue Jumps 52%

अगस्त 21, 2018, 06:11

Investing.com - China Vanke Co Ltd (HK:2202), China’s third largest property developer by sales, reported a 25% increase in its first-half profit, according to a company statement.

The company’s core profit hiked to $1.32 billion in the first half of this year, up by 27.7%, while its net profit increased by 24.9% to $1.33 billion and its revenue surged 51.8% to $15.5 billion.

In terms of outlook, the developer said it is set to expand its long-term rental housing business, and currently leases 40,000 flats in 30 cities that target youngsters and families.

Other major developers including China Evergrande Group and Country Garden also said they expect their net profit to grow more than 50% and 125% respectively in the first six months.

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Asian Stocks Extend Gains; ASX Slips After RBA Policy Meeting

अगस्त 21, 2018, 06:03

Investing.com - Asian markets extended their gains in afternoon trade on Tuesday, while Australia’s S&P/ASX 200 underperformed its regional peers following the Reserve Bank of Australia’s (RBA) August policy meeting.

China’s Shanghai Composite and the SZSE Component rose 1.2% and 1.4% respectively by 1:55AM ET (05:55 GMT), while Hong Kong’s Hang Seng Index edged up 0.5%.

Low level trade talks between U.S. and China are due to start later in the day, although Trump said he does not expect much to happen during the meeting. Traders will also be closely watching this week’s Jackson Hole symposium for clues on U.S. monetary policy.

China Vanke Co Ltd (HK:2202), China’s third largest property developer by sales, reported a 25% increase in its first-half profit, according to a company statement.

The company’s core profit hiked to $1.32 billion in the first half of this year, up by 27.7%, while its net profit increased by 24.9% to $1.33 billion and its revenue surged 51.8% to $15.5 billion. 

Other major developers including Evergrande and Country Garden also said they expect their net profit to grow more than 50% and 125% respectively in the first six months.

Down under, the S&P/ASX 200 was down 0.9% on Tuesday. The RBA took centre stage on Tuesday as it said it saw “no strong case” for a near-term shift in cash rate. It also stressed the need for interest rates to stay at record lows. Earlier this month, the central bank left the cash rate unchanged at 1.5%, noting that business conditions in the economy remained positive.

BHP Billiton Ltd (AX:BHP) received some focus after it paid out a record annual dividend of $1.18 per share. Full year earnings jumped 33% to $8.9 billion, according to a statement on Tuesday. That compared with a $9.2 billion average estimates.

Meanwhile, markets were under pressure earlier in the day after U.S. president Donald Trump accused China and the EU for manipulating their currencies.

“I think China’s manipulating their currency, absolutely. And I think the euro is being manipulated also,” Trump said in an interview with Reuters published Monday.

Trump then added that he believed the Federal Reserve should do “what’s good for the country,” and that he disagreed with the Federal Reserve's decision to raise interest rates.

"I should be given some help by the Fed,” he said.

The Fed is due to meet again in meets to consider rates. Markets widely expect it to raise them in September and also later this year. So far, the central bank has raised rates five times since Trump took office.

Elsewhere, the Nikkei 225 edged up 0.2%, while South Korea’s KOSPI gained 1.0%.

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Australia stocks lower at close of trade; S&P/ASX 200 down 0.92%

अगस्त 21, 2018, 06:00

Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the Energy, Resources and Financials sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 0.92%.

The best performers of the session on the S&P/ASX 200 were Super Retail Group Ltd (AX:SUL), which rose 8.67% or 0.790 points to trade at 9.900 at the close. Meanwhile, Vocus Group Ltd (AX:VOC) added 4.77% or 0.115 points to end at 2.525 and Syrah Resources Ltd (AX:SYR) was up 4.07% or 0.100 points to 2.560 in late trade.

The worst performers of the session were Ausdrill Ltd (AX:ASL), which fell 4.36% or 0.085 points to trade at 1.865 at the close. Greencross Ltd (AX:GXL) declined 4.11% or 0.170 points to end at 3.970 and Amcor Ltd (AX:AMC) was down 3.92% or 0.560 points to 13.720.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 628 to 582 and 406 ended unchanged.

Shares in Super Retail Group Ltd (AX:SUL) rose to 52-week highs; gaining 8.67% or 0.790 to 9.900.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 0.31% to 11.968.

Gold Futures for December delivery was up 0.63% or 7.50 to $1202.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.24% or 0.16 to hit $65.58 a barrel, while the October Brent oil contract rose 0.14% or 0.10 to trade at $72.31 a barrel.

AUD/USD was up 0.26% to 0.7358, while AUD/JPY rose 0.24% to 80.98.

The US Dollar Index Futures was down 0.29% at 95.40.

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Gold Prices Gain as Dollar Softens After Trump’s Comments

अगस्त 21, 2018, 05:47

Investing.com - Gold prices rose on Tuesday as the dollar softens after U.S. President Donald Trump said he is “not thrilled” with the Federal Reserve’s decision to raise interest rates.

Gold Futures for December delivery gained 0.6% to $1,201.9 per troy ounce at 1:40AM ET (05:40 GMT) on the Comex division of the New York Mercantile Exchange. 

Gold futures ended last week down 2.86%, the largest weekly decline since early May 2017, after hitting $1,176.20 last Thursday, the lowest level since early January 2017.

Gold prices are down around 10.8% so far this year, pressured lower by the stronger dollar and rising interest rates.

Meanwhile, the U.S. Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.3% to 95.39 by 1:20AM ET (05:20 GMT).

"I should be given some help by the Fed,” Trump said, adding that he believed the Federal Reserve should do “what’s good for the country,”

The Fed is due to meet again in meets to consider rates. Markets widely expect it to raise them in September and also later this year. So far, the central bank has raised rates five times since Trump took office.

Mizuho Securities' Masafumi Yamamoto said Fed officials don't seem to be influenced by Trump's comments. "As long as the U.S. economy is okay...then I think there is no reason to stop the rate hikes from the Fed's point of view," he said.

Reports that China and the U.S. will hold talks this week was also cited as headwind for the dollar as analysts expect the meeting might lead to an easing in trade disputes.

Escalating trade tensions and the recent Turkish lira crisis had pushed the dollar index to 96.984 on Aug. 15, its highest since June 2017.

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Dollar Slips After Trump Disagrees with Fed’s Decision to Raise Rates

अगस्त 21, 2018, 05:34

Investing.com - The U.S. dollar slipped on Tuesday after U.S. President Donald Trump said he disagreed with the Federal Reserve’s decision to raise interest rates.

The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.3% to 95.39 by 1:20AM ET (05:20 GMT).

"I should be given some help by the Fed,” Trump said, adding that he believed the Federal Reserve should do “what’s good for the country,”

The Fed is due to meet again in meets to consider rates. Markets widely expect it to raise them in September and also later this year. So far, the central bank has raised rates five times since Trump took office.

Trump also accused China and the EU on Monday for manipulating their currencies.

“I think China’s manipulating their currency, absolutely. And I think the euro is being manipulated also,” Trump said in an interview with Reuters published Monday.

Mizuho Securities' Masafumi Yamamoto said Fed officials don't seem to be influenced by Trump's comments. "As long as the U.S. economy is okay...then I think there is no reason to stop the rate hikes from the Fed's point of view," he said.

Reports that China and the U.S. will hold talks this week was also cited as headwind for the dollar as analysts expect the meeting might lead to an easing in trade disputes.

Escalating trade tensions and the recent Turkish lira crisis had pushed the dollar index to 96.984 on Aug. 15, its highest since June 2017.

Meanwhile, the USD/JPY pair was unchanged at 110.08. The pair on Tuesday fell below the psychologically-significant 110 level for the first time since June 28.

Elsewhere, the AUD/USD pair was up 0.3%, while the NZD/USD pair also gained 0.6%.

The CNY/USD slipped 0.3% to 6.8500 on Tuesday after the People's Bank of China (PBOC) set the Yuan reference rate at 6.8360 vs. Monday's fix of 6.8718.

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Oil prices mixed as U.S. Readies Sanctions on Iran

अगस्त 21, 2018, 05:05

Investing.com - Oil prices were mixed on Tuesday as the crude supply is expected to lower due once U.S. beings imposing economic sanctions against Iran in November.

Brent Oil Futures for October delivery dropped by 0.07% to $72.16 per barrel at 1:05AM ET (05:05 GMT), while Crude Oil WTI Futures for October delivery rose by 0.09% to $65.48 a barrel.

Traders expect a drop of crude supply in November when the U.S. sanctions against Iran will take effect. U.S. offered on Monday 11 million barrels of crude from its Strategic Petroleum Reserve for delivery from Oct. 1 to Nov. 31 to prevent a huge jump in oil prices once the sanctions kick in.

French oil giant Total, one of the largest European buyers of Iranian oil, said it will halt imports and abandon Iranian projects for operations in the U.S.

Meanwhile, China will use oil tankers from Iran to purchase its crude and has cut imports of U.S. oil amid a trade war with Washington. The two are set to have a trade talk on Tuesday and Wednesday, but Trump said in an interview with Reuters that he does not expect much to happen at the meeting. The US is expected on Thursday to impose 25% tariffs on an additional $16 billion in Chinese imports, and Beijing has threatened to retaliate with 25% tariffs as well.

In other news, Saudi Arabia might be seeking to expand its oil production by building an oil port in Yemen’s al-Mahra governorate, where the Saudi-led coalition troops are present. Yemen has resumed its oil exports amid humanitarian crisis and wars.

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Crypto Prices Plunge; Coinbase’s Trading Volume Down 83% From All-Time High in Jan

अगस्त 21, 2018, 04:34

Investing.com - Cryptocurrency prices plunged on Tuesday, with Ethereum down more than 9%, while Litecoin and Ripple slumped 7%.

Bitcoin was down 2.8% to $6,317.8 at 12:30AM ET (04:30 GMT) on the Bitifinex exchange.       

Ethereum plunged 9.3% to $275.1 on the Bitifinex exchange.           

Ripple slumped 7.5% to $0.32155 in the last 24 hours on the Poloniex exchange, while Litecoin was also down 7.5% to $53.935.

Reports this week revealed that Coinbase, the most well-known cryptocurrency trading platform in the U.S., saw its trading volume plunge by 83% to $3.9 billion from their all-time high of nearly $21 billion in January.

The research came after Bernstein said in a report titled “Crypto Trading – the Next Big Thing is Here” over the weekend that Coinbase may end up with an “unassailable competitive position” as traditional financial firms are unlikely to push into crypto spot trading in the near future as they are concerned over regulations and money laundering.

In other news, State-backed Bank of China (BOC) has signed a deal with China UnionPay to jointly develop a blockchain-enabled payment system

The system is expected to provide more opportunities for cooperation between enterprises, particularly in cross-border digital payments, the BOC said.

“The two parties will continue to take advantage of their respective fields, actively implement the requirements of mobile payment convenience demonstration projects, deepen all-round cooperation in the field of mobile payment, promote the healthy and rapid development of the payment industry, and provide intelligent, open, integrated and characteristic digital mobile finance for customers,” the bank said in a statement.

Elsewhere, the UK Financial Conduct Authority (FCA) updated its warning on cryptocurrency-related scams, as it has been getting a rising number of complaints in recent months.

In some cases, the fraud involves FCA-regulated activities, such as offering investment products with cryptocurrencies as an underlying asset. In most cases these are advertised on social media, the guidelines stated.

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Asian Equities Rise, ASX Falls After RBA Policy Meeting

अगस्त 21, 2018, 02:26

Investing.com – Asian equities were mostly higher in morning trade on Tuesday. Australia’s S&P/ASX 200 underperformed its regional peers following the Reserve Bank of Australia’s (RBA) August policy meeting.

The ASX was down 0.9% by 9:55PM ET (01:55GMT). The RBA took centre stage on Tuesday as it said it saw “no strong case” for a near-term shift in cash rate. It also stressed the need for interest rates to stay at record lows. Earlier this month, the central bank left the cash rate unchanged at 1.5%, noting that business conditions in the economy remained positive.

BHP Billiton Ltd (AX:BHP) received some focus after it paid out a record annual dividend of $1.18 per share. Full year earnings jumped 33% to $8.9 billion, according to a statement on Tuesday. That compared with a $9.2 billion average estimates.

Meanwhile, markets were under pressure earlier in the day after U.S. president Donald Trump accused China and the EU for manipulating their currencies.

“I think China’s manipulating their currency, absolutely. And I think the euro is being manipulated also,” Trump said in an interview with Reuters published Monday.

Trump then added that he believed the Federal Reserve should do “what’s good for the country,” and that he disagreed with the Federal Reserve's decision to raise interest rates.

"I should be given some help by the Fed,” he said.

The Fed is due to meet again in meets to consider rates. Markets widely expect it to raise them in September and also later this year. So far, the central bank has raised rates five times since Trump took office.

China’s Shanghai Composite and the Shenzhen Component rose 0.9% and 0.4% respectively, while Hong Kong’s Hang Seng Index edged up 0.2%.

Low level trade talks between U.S. and China are due to start later in the day, although Trump said he does not expect much to happen during the meeting. Traders will be closely watching this week’s Jackson Hole symposium for clues on U.S. monetary policy.

Elsewhere, the Nikkei 225 was unchanged at 22,201.0, while South Korea’s KOSPI gained 0.6%.

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Peru stocks higher at close of trade; S&P Lima General up 0.42%

अगस्त 20, 2018, 09:25

Investing.com – Peru stocks were higher after the close on Monday, as gains in the Banking&Financials, Mining and Electricity sectors led shares higher.

At the close in Lima, the S&P Lima General rose 0.42%.

The best performers of the session on the S&P Lima General were Andino Investment Holding SAA (LM:AIH), which rose 3.70% or 0.100 points to trade at 2.800 at the close. Meanwhile, Compania Minera Milpo SAA Class I (LM:MILi) added 3.14% or 0.070 points to end at 2.300 and Relapasa (LM:REL) was up 2.27% or 0.004 points to 0.180 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 5.45% or 0.0030 points to trade at 0.0520 at the close. Rimac Seguros y Reaseguros (LM:RSR) declined 2.33% or 0.030 points to end at 1.260 and Trevali Mining (LM:TV) was down 1.85% or 0.010 points to 0.530.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 12 to 11 and 16 ended unchanged.

Shares in Rimac Seguros y Reaseguros (LM:RSR) fell to 52-week lows; falling 2.33% or 0.030 to 1.260.

Crude oil for October delivery was up 0.35% or 0.23 to $65.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.11% or 0.08 to hit $72.11 a barrel, while the December Gold Futures contract rose 1.11% or 13.10 to trade at $1197.30 a troy ounce.

USD/PEN was down 0.47% to 3.3075, while EUR/PEN rose 0.16% to 3.7974.

The US Dollar Index Futures was down 0.33% at 95.68.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 1.07%

अगस्त 20, 2018, 08:29

Investing.com – Mexico stocks were higher after the close on Monday, as gains in the Telecoms Services, Financial Services and Materials sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC gained 1.07%.

The best performers of the session on the S&P/BMV IPC were GMexico Transportes SA de CV (MX:GMXT), which rose 3.48% or 1.100 points to trade at 32.720 at the close. Meanwhile, Alpek, S.A.B. De C.V. (MX:ALPEKA) added 3.43% or 0.980 points to end at 29.570 and Industrias Penoles Sab De CV (MX:PENOLES) was up 3.21% or 9.64 points to 309.97 in late trade.

The worst performers of the session were Nemak SAB de CV (MX:NEMAKA), which fell 1.44% or 0.23 points to trade at 15.73 at the close. Arca Continental , S.A.B. De C.V. (MX:AC) declined 1.03% or 1.29 points to end at 123.58 and Wal - Mart De Mexico, SAB De CV (MX:WALMEX) was down 0.83% or 0.440 points to 52.870.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 179 to 89 and 18 ended unchanged.

Gold Futures for December delivery was up 1.11% or 13.20 to $1197.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 0.31% or 0.20 to hit $65.41 a barrel, while the October Brent oil contract rose 0.54% or 0.39 to trade at $72.22 a barrel.

USD/MXN was up 0.49% to 18.9800, while EUR/MXN rose 0.88% to 21.7962.

The US Dollar Index Futures was down 0.34% at 95.67.

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