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Peru stocks higher at close of trade; S&P Lima General up 0.02%

Investing.com – Peru stocks were higher after the close on Friday, as gains in the Banking&Financials, Non-Metal Minerals and Industrials sectors led shares higher.

At the close in Lima, the S&P Lima General gained 0.02%.

The best performers of the session on the S&P Lima General were Credicorp (LM:BAP), which rose 2.33% or 5.10 points to trade at 224.15 at the close. Meanwhile, Cerro Verde (LM:CVE) added 1.78% or 0.490 points to end at 27.990 and Casa Grande (LM:CSG) was up 0.95% or 0.050 points to 5.300 in late trade.

The worst performers of the session were Trevali Mining (LM:TV), which fell 3.61% or 0.030 points to trade at 0.800 at the close. Volcan Minera (LM:VOL_pb) declined 2.86% or 0.030 points to end at 1.020 and PPX Mining Corp (LM:PPX) was 2.63% or 0.00 points to 0.07.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 14 to 7 and 18 ended unchanged.

Shares in Trevali Mining (LM:TV) fell to 52-week lows; falling 3.61% or 0.030 to 0.800.

Crude oil for July delivery was down 4.57% or 3.23 to $67.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 3.30% or 2.60 to hit $76.19 a barrel, while the June Gold Futures contract fell 0.25% or 3.20 to trade at $1301.20 a troy ounce.

USD/PEN was up 0.09% to 3.2705, while EUR/PEN fell 0.58% to 3.8139.

The US Dollar Index Futures was up 0.52% at 94.21.

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CFTC: Speculators Less Bullish on Euro, Crude Oil, S&P 500

Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending May 22 on Friday.


Speculative positioning in the CME and ICE currency, commodity, energy and index futures:

LongShort
NetPriorChangeGrossChangeGrossChange
EUR109.7k115.1k-5.4k226.0k6.6k116.2k12.0k
GBP5.7k5.6k0.1k56.3k-5.0k50.6k-5.1k
JPY-2.8k3.7k-6.4k73.8k8.9k76.6k15.4k
CHF-37.3k-36.4k-0.9k25.4k-0.3k62.7k0.6k
CAD-26.2k-23.7k-2.6k23.6k-6.9k49.8k-4.3k
AUD-21.1k-23.1k2.0k56.1k-16.5k77.2k-18.4k
NZD-1.4k2.0k-3.3k27.1k-1.7k28.4k1.6k
MXN31.5k52.8k-21.2k78.8k-7.5k47.2k13.7k
S&P 500185.2k198.8k-13.6k520.1k-12.5k334.8k1.0k
Gold91.0k92.4k-1.5k189.7k-11.8k98.7k-10.3k
Silver15.2k0.7k14.6k78.0k5.3k62.8k-9.2k
Copper39.0k36.4k2.7k109.6k2.5k70.6k-0.2k
RUB11.4k10.9k0.5k12.3k0.0k0.9k-0.5k
Crude Oil633.4k644.4k-11.1k750.3k-22.2k116.9k-11.1k


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Top 5 Things That Moved Markets This Past Week

Investing.com – Top 5 things that rocked U.S. markets this week

1. Bullish Earnings Help S&P500 Avert Weekly Loss Despite Rising Geopolitical Tensions

Geopolitical fears swept through markets, causing large swings to the downside but a raft of solid corporate earnings ensured the S&P 500 held gains to post a weekly win.

President Donald Trump’s decision to cancel the planned summit with North Korea rocked markets on Thursday a day after the Federal Reserve’s dovish minutes had triggered a rally.

The Federal Reserve on Wednesday confirmed the need for gradual rate hikes but showed policymakers were comfortable with inflation overshooting target, lessening the prospect of a faster pace of rate hikes.

Trump’s reverse ferret on North Korea Friday, suggesting a meeting with North Korea’s Kim Jong Un could still take place drew muted supported in markets, but a bullish report from Foot Locker kept a lid on losses.

Foot Locker reported earnings of $1.45 per share on $2.03 billion revenue, topping consensus estimates, sending shares of Foot Locker Inc (NYSE:FL) soaring more than 20%.

The S&P 500 posted a weekly gain despite closing 0.24% lower on Friday.

2. Crude Oil Prices Post Worst Weekly Loss Since February

Crude oil prices suffered their biggest weekly loss since February after an ugly session on Friday saw traders reverse some of their bullish bets on a shortage in global supplies following reports major oil producers could lift output.

Major oil producers were reportedly eyeing an exit of the output-cut agreement to counter the falling Venezuelan output and the prospect of lower Iranian output as U.S. sanctions loom.

Oil prices were also rocked by an Energy Information Administration report Wednesday showing an unexpected build in U.S. crude stockpiles last week.

Crude futures settled 4% lower on Friday as data showed U.S. oil rigs resumed their expansion, pointing to signs of growing domestic output.

3. Dollar Notches Second Weekly Win

The dollar recorded its second-straight weekly gain after a mid-week wobble following the Federal Reserve's dovish minutes, denting expectations for a fourth rate hike at the U.S. central bank’s December meeting.

The prospect of a fourth rate has plunged to under 30% from nearly 45% earlier in the week, according to Investing.com’s Fed Rate Monitor.

The dollar's move higher was also supported by an ongoing slump in EUR/USD amid growing Eurozone geopolitical uncertainty as Spain’s Prime Minister Mariano Rajoy faces a vote of no confidence tabled by the main Socialist opposition party.

Political angst in Italy, meanwhile, continued to pressure the single currency, further boosting the greenback.

The dollar traded at a six-month high against a basket of major currencies on Friday.

4. Gold Finds Its Lustre

Gold prices posted a weekly win as falling bond yields cushioned pressure from a surging dollar.

The rampant rise in the 10-year treasury yield cooled, falling below 3% as the underlying dovish tone observed in the Fed minutes saw bond prices rise – which trade inversely to yields – supporting the yellow metal.

Also supporting gold was the return of safe-haven demand as U.S. and China tensions flared after President Trump said he was not satisfied with the progress of recent trade negotiations.

The yellow metal rose sharply on Thursday, when Trump cancelled a scheduled meeting with North Korea but changed tact a day later following conciliatory comments from North Korea overnight.

5. Bitcoin: Fool Me Once. . .

Fears of a widespread regulatory crackdown on cryptocurrencies saw nearly $40 billion wiped off the crypto market this week as traders abandon their bullish bets.

North American regulators launched “Operation Cryptosweep,” stepping up efforts to rid the crypto space of fraudulent activity, urging investors to carefully consider crypto purchases, particularly those that relate to initial coin offerings.

That halted the attempted recovery in cryptos from last week's slump, sounding the alarm bells for a further regulatory crackdown in the crypto industry.

Just days after “Operation Cryptosweep” was revealed, the Justice Department opened a criminal investigation into possible bitcoin price manipulation, adding to fears of regulatory pressures.

As negative sentiment on cryptos continued to gather pace, traders cut their crypto holdings, sending the total crypto market cap tumbling to about $328 billion, down nearly $40 billion, from about $367 billion last week.

Over the past seven days, Bitcoin fell 9.32% on the Bitfinex exchange, Ethereum fell 15.06%, while Ripple XRP fell 10.05% on the Poloniex exchange.

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Mexico stocks lower at close of trade; S&P/BMV IPC down 0.75%

Investing.com – Mexico stocks were lower after the close on Friday, as losses in the Telecoms Services, Financial Services and Healthcare sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC declined 0.75% to hit a new 52-week low.

The best performers of the session on the S&P/BMV IPC were Grupo LALA SA de CV (MX:LALAB), which rose 6.38% or 1.36 points to trade at 22.66 at the close. Meanwhile, Gentera SAB de CV (MX:GENTERA) added 3.20% or 0.470 points to end at 15.170 and BanRegio Grupo Financiero SAB de CV (MX:RA) was up 1.85% or 2.03 points to 111.73 in late trade.

The worst performers of the session were Infraestructura Energetica Nova SAB (MX:IENOVA), which fell 4.59% or 3.86 points to trade at 80.21 at the close. Megacable Holdings, S.A.B. De C.V. (MX:MEGACPO) declined 2.50% or 2.220 points to end at 86.530 and Grupo Bimbo, S.A.B. De C.V. (MX:BIMBOA) was down 2.49% or 0.980 points to 38.430.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 180 to 76 and 6 ended unchanged.

Gold Futures for June delivery was down 0.30% or 3.90 to $1300.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.43% or 3.13 to hit $67.58 a barrel, while the July Brent oil contract fell 3.19% or 2.51 to trade at $76.28 a barrel.

USD/MXN was down 0.18% to 19.5397, while EUR/MXN fell 0.66% to 22.7895.

The US Dollar Index Futures was up 0.46% at 94.15.

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Brazil stocks lower at close of trade; Bovespa down 1.60%

Investing.com – Brazil stocks were lower after the close on Friday, as losses in the Basic Materials, Financials and Consumption sectors led shares lower.

At the close in Sao Paulo, the Bovespa declined 1.60% to hit a new 3-months low.

The best performers of the session on the Bovespa were Centrais Eletricas Brasileiras SA (SA:ELET6), which rose 3.08% or 0.54 points to trade at 18.07 at the close. Meanwhile, EDP - Energias do Brasil SA (SA:ENBR3) added 2.14% or 0.29 points to end at 13.84 and Gol Linhas Aereas Inteligentes SA Pref (SA:GOLL4) was up 1.70% or 0.24 points to 14.39 in late trade.

The worst performers of the session were Usinas Siderurgicas de Minas Gerais (SA:USIM5), which fell 6.15% or 0.59 points to trade at 9.01 at the close. Cia Siderurgica Nacional SA (SA:CSNA3) declined 5.00% or 0.43 points to end at 8.17 and CEMIG - Companhia Energetica Minas Gerais Pref (SA:CMIG4) was down 4.78% or 0.39 points to 7.77.

Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 255 to 134 and 49 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 0.03% to 31.00.

Gold Futures for June delivery was down 0.31% or 4.00 to $1300.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.43% or 3.13 to hit $67.58 a barrel, while the July US coffee C contract unchanged 0.00% or 0.00 to trade at $120.58 .

USD/BRL was up 0.37% to 3.6612, while EUR/BRL fell 0.14% to 4.2687.

The US Dollar Index Futures was up 0.45% at 94.14.

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Colombia stocks lower at close of trade; COLCAP down 0.13%

Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Industrials, Services and Public Services sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.13%.

The best performers of the session on the COLCAP were Bcolombia (CN:BIC), which rose 2.72% or 880.0 points to trade at 33200.0 at the close. Meanwhile, Conconcret (CN:CIC) added 2.38% or 19.0 points to end at 818.0 and Bancolombia Pf (CN:BIC_p1) was up 2.10% or 680.0 points to 33100.0 in late trade.

The worst performers of the session were Ecopetrol SA (CN:ECO), which fell 3.74% or 115.0 points to trade at 2960.0 at the close. Etb (CN:ETB) declined 1.55% or 6.0 points to end at 381.0 and Cementos Argos Pf (CN:CCB_p) was down 1.39% or 110.0 points to 7800.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 15 to 8 and 6 ended unchanged.

Shares in Etb (CN:ETB) fell to 3-years lows; losing 1.55% or 6.0 to 381.0.

US coffee C for July delivery was unchanged 0.00% or 0.00 to $120.58 . Elsewhere in commodities trading, US cocoa for delivery in July fell 1.82% or 47.50 to hit $2561.50 , while the June Gold Futures contract fell 0.31% or 4.00 to trade at $1300.40 a troy ounce.

USD/COP was up 0.80% to 2886.12, while BRL/COP rose 0.79% to 787.88.

The US Dollar Index Futures was up 0.44% at 94.13.

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Crude Oil Prices Settle 4% Lower as Traders Cut Bets on Global Supply Shortage

Investing.com – A wave of selling hit crude oil prices Friday on signs of increasing U.S. oil expansion and reports OPEC and its allies could lift output to counter a supply shortage from Iran and Venezuela.

On the New York Mercantile Exchange crude futures for July delivery fell 4% to settle at $67.88 a barrel, while on London's Intercontinental Exchange, Brent fell 2.98% to trade at $76.44 a barrel.

The number of oil rigs operating in the US jumped by 15 to 859, its highest level since March 13, 2015, according to data from energy services firm Baker Hughes, pointing to signs of an expansion in U.S. output.

That comes as the Energy Information Administration said Wednesday U.S. oil output rose to 10.7 million barrels a day last week.

“The data is likely seen to be as a slight negative for WTI oil prices as the oil rig count had its biggest one week increase in three and a half months,” National Alliance said.

Oil prices started the session on the back foot as Reuters said major oil producers could raise output by as much as 1 million barrels, eroding the risk-premium in oil prices.

OPEC and its allies had been expected to adhere to the production-cut agreement to curb 1.8 million barrels of oil per day through 2018 but that now looks increasingly unlikely as major oil producers consider exiting the deal.

"The moment is coming when we should consider assessing ways to exit the deal very seriously and gradually ease quotas on output cuts," Novak said in televised comments, according to Reuters.

Over recent weeks, oil prices had rallied sharply on expectations that falling Venezuelan and Iranian output would disrupt global supplies.

Oil prices snapped a three-week winning streak and suffered their biggest weekly fall since February.

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Morocco stocks higher at close of trade; Moroccan All Shares up 0.32%

Investing.com – Morocco stocks were higher after the close on Friday, as gains in the Distributors, Pharmaceutical Industry and Construction&Building Materials sectors led shares higher.

At the close in Casablanca, the Moroccan All Shares rose 0.32%.

The best performers of the session on the Moroccan All Shares were AFMA SA (CS:AFM), which rose 9.89% or 94 points to trade at 1044 at the close. Meanwhile, Label Vie (CS:LBV) added 9.81% or 210 points to end at 2350 and Involys (CS:INV) was up 7.59% or 9.15 points to 129.65 in late trade.

The worst performers of the session were Ennakl Automobiles SA (CS:NKL), which fell 5.11% or 2.30 points to trade at 42.70 at the close. Med Paper (CS:PAP) declined 3.38% or 0.84 points to end at 24.01 and Alliances (CS:ADI) was down 2.96% or 4 points to 131.

Rising stocks outnumbered declining ones on the Casablanca Stock Exchange by 36 to 14 and 8 ended unchanged.

Shares in Ennakl Automobiles SA (CS:NKL) fell to 52-week lows; falling 5.11% or 2.30 to 42.70. Shares in Label Vie (CS:LBV) rose to all time highs; rising 9.81% or 210 to 2350. Shares in Med Paper (CS:PAP) fell to 52-week lows; losing 3.38% or 0.84 to 24.01. Shares in Alliances (CS:ADI) fell to 52-week lows; losing 2.96% or 4 to 131.

Crude oil for July delivery was down 4.30% or 3.04 to $67.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 3.36% or 2.65 to hit $76.14 a barrel, while the June Gold Futures contract fell 0.05% or 0.70 to trade at $1303.70 a troy ounce.

EUR/MAD was down 0.20% to 11.0820, while USD/MAD rose 0.30% to 9.4990.

The US Dollar Index Futures was up 0.36% at 94.06.

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Portugal stocks lower at close of trade; PSI 20 down 0.91%

Investing.com – Portugal stocks were lower after the close on Friday, as losses in the Technology, Industrials and Financials sectors led shares lower.

At the close in Lisbon, the PSI 20 fell 0.91%.

The best performers of the session on the PSI 20 were J. Martins SGPS (LS:JMT), which rose 0.58% or 0.0800 points to trade at 13.9900 at the close. Meanwhile, Ibersol SGPS (LS:IBS) added 0.45% or 0.050 points to end at 11.150 and EDP (LS:EDP) was up 0.41% or 0.0140 points to 3.4200 in late trade.

The worst performers of the session were Galp Energia Nom (LS:GALP), which fell 2.89% or 0.4800 points to trade at 16.1550 at the close. Pharol SGPS SA (LS:PHRA) declined 2.74% or 0.0075 points to end at 0.2665 and Banco Comercial Portugues (LS:BCP) was down 2.50% or 0.0069 points to 0.2693.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 20 to 13 and 6 ended unchanged.

Brent oil for July delivery was down 3.46% or 2.73 to $76.06 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.41% or 3.12 to hit $67.59 a barrel, while the June Gold Futures contract fell 0.05% or 0.70 to trade at $1303.70 a troy ounce.

EUR/USD was down 0.50% to 1.1660, while EUR/GBP unchanged 0.00% to 0.8759.

The US Dollar Index Futures was up 0.43% at 94.12.

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Italy stocks lower at close of trade; Investing.com Italy 40 down 1.46%

Investing.com – Italy stocks were lower after the close on Friday, as losses in the Financials, Chemicals and Oil&Gas sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 declined 1.46% to hit a new 1-month low.

The best performers of the session on the Investing.com Italy 40 were Moncler SpA (MI:MONC), which rose 3.78% or 1.43 points to trade at 39.26 at the close. Meanwhile, Leonardo SpA (MI:LDOF) added 2.18% or 0.192 points to end at 9.012 and Davide Campari Milano SpA (MI:CPRI) was up 2.04% or 0.13 points to 6.51 in late trade.

The worst performers of the session were Banco Bpm (MI:BAMI), which fell 7.34% or 0.191 points to trade at 2.410 at the close. FinecoBank Banca Fineco SpA (MI:FBK) declined 4.31% or 0.40 points to end at 8.79 and Mediobanca (MI:MDBI) was down 4.01% or 0.356 points to 8.520.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 259 to 115 and 20 ended unchanged.

Shares in Banco Bpm (MI:BAMI) fell to 52-week lows; down 7.34% or 0.191 to 2.410.

Crude oil for July delivery was down 4.30% or 3.04 to $67.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 3.39% or 2.67 to hit $76.12 a barrel, while the June Gold Futures contract fell 0.08% or 1.00 to trade at $1303.40 a troy ounce.

EUR/USD was down 0.50% to 1.1660, while EUR/GBP fell 0.02% to 0.8757.

The US Dollar Index Futures was up 0.43% at 94.12.

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Russia stocks higher at close of trade; MOEX Russia up 0.55%

Investing.com – Russia stocks were higher after the close on Friday, as gains in the Oil&Gas, Mining and Telecoms sectors led shares higher.

At the close in Moscow, the MOEX Russia rose 0.55%.

The best performers of the session on the MOEX Russia were NOVATEK (MCX:NVTK), which rose 6.72% or 50.90 points to trade at 808.10 at the close. Meanwhile, MMK (MCX:MAGN) added 2.18% or 1.010 points to end at 47.410 and SG mechel (MCX:MTLR) was up 2.12% or 2.30 points to 110.90 in late trade.

The worst performers of the session were RusHydro JSC (MCX:HYDR), which fell 1.65% or 0.0122 points to trade at 0.7270 at the close. NMTP (MCX:NMTP) declined 1.53% or 0.1050 points to end at 6.7700 and Tatneft OAO Pref (MCX:TATN_p) was down 1.12% or 5.40 points to 474.90.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 124 to 92 and 15 ended unchanged.

Shares in NOVATEK (MCX:NVTK) rose to all time highs; rising 6.72% or 50.90 to 808.10.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 3.52% to 24.090.

Gold Futures for June delivery was down 0.08% or 1.10 to $1303.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.30% or 3.04 to hit $67.67 a barrel, while the July Brent oil contract fell 3.39% or 2.67 to trade at $76.12 a barrel.

USD/RUB was up 1.02% to 62.2415, while EUR/RUB rose 0.47% to 72.5724.

The US Dollar Index Futures was up 0.43% at 94.12.

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Spain stocks lower at close of trade; IBEX 35 down 1.70%

Investing.com – Spain stocks were lower after the close on Friday, as losses in the Chemical, Petroleum&Plastic, Financial Services&Real Estate and Building&Construction sectors led shares lower.

At the close in Madrid, the IBEX 35 fell 1.70% to hit a new 1-month low.

The best performers of the session on the IBEX 35 were International Consolidated Airlines Group SA (MC:ICAG), which rose 2.23% or 0.174 points to trade at 7.990 at the close. Meanwhile, Amadeus IT (MC:AMA) added 0.87% or 0.580 points to end at 67.380 and Melia Hotels (MC:MEL) was up 0.17% or 0.020 points to 11.680 in late trade.

The worst performers of the session were Caixabank SA (MC:CABK), which fell 3.77% or 0.153 points to trade at 3.910 at the close. Gas Natural (MC:GAS) declined 3.29% or 0.720 points to end at 21.150 and Acciona (MC:ANA) was down 3.17% or 2.140 points to 65.460.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 138 to 44 and 18 ended unchanged.

Shares in Amadeus IT (MC:AMA) rose to all time highs; up 0.87% or 0.580 to 67.380.

Gold Futures for June delivery was down 0.08% or 1.10 to $1303.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.34% or 3.07 to hit $67.64 a barrel, while the July Brent oil contract fell 3.44% or 2.71 to trade at $76.08 a barrel.

EUR/USD was down 0.50% to 1.1660, while EUR/GBP fell 0.02% to 0.8757.

The US Dollar Index Futures was up 0.43% at 94.12.

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Belgium stocks lower at close of trade; BEL 20 down 0.16%

Investing.com – Belgium stocks were lower after the close on Friday, as losses in the Industrials, Utilities and Telecoms sectors led shares lower.

At the close in Brussels, the BEL 20 fell 0.16% to hit a new 1-month low.

The best performers of the session on the BEL 20 were Etablissementen Fr Colruyt NV (BR:COLR), which rose 2.50% or 1.11 points to trade at 45.55 at the close. Meanwhile, Galapagos NV (AS:GLPG) added 1.29% or 1.100 points to end at 86.420 and Solvay SA (BR:SOLB) was up 1.03% or 1.20 points to 118.25 in late trade.

The worst performers of the session were bpost NV (BR:BPOST), which fell 2.43% or 0.38 points to trade at 15.27 at the close. Telenet Group (BR:TNET) declined 2.22% or 1.04 points to end at 45.86 and Engie SA (PA:ENGIE) was down 1.48% or 0.21 points to 13.95.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 65 to 50 and 24 ended unchanged.

Shares in bpost NV (BR:BPOST) fell to 3-years lows; down 2.43% or 0.38 to 15.27. Shares in Telenet Group (BR:TNET) fell to 52-week lows; losing 2.22% or 1.04 to 45.86.

Gold Futures for June delivery was down 0.08% or 1.00 to $1303.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.19% or 2.96 to hit $67.75 a barrel, while the July Brent oil contract fell 3.34% or 2.63 to trade at $76.16 a barrel.

EUR/USD was down 0.47% to 1.1664, while EUR/GBP fell 0.02% to 0.8757.

The US Dollar Index Futures was up 0.39% at 94.09.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.10%

Investing.com – U.K. stocks were higher after the close on Friday, as gains in the Fixed Line Telecommunications, Automobiles&Parts and Food Producers sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 added 0.10%.

The best performers of the session on the Investing.com United Kingdom 100 were Capita PLC (LON:CPI), which rose 7.70% or 10.50 points to trade at 146.90 at the close. Meanwhile, Kingfisher PLC (LON:KGF) added 3.44% or 10.20 points to end at 307.10 and BT Group PLC (LON:BT) was up 3.35% or 6.80 points to 209.95 in late trade.

The worst performers of the session were Royal Mail PLC (LON:RMG), which fell 2.75% or 15.00 points to trade at 530.40 at the close. BP PLC (LON:BP) declined 2.01% or 11.40 points to end at 555.10 and Royal Dutch Shell PLC Class A (LON:RDSa) was down 1.50% or 39.00 points to 2559.00.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1128 to 874 and 308 ended unchanged.

Gold Futures for June delivery was down 0.08% or 1.00 to $1303.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.31% or 3.05 to hit $67.66 a barrel, while the July Brent oil contract fell 3.50% or 2.76 to trade at $76.03 a barrel.

GBP/USD was down 0.43% to 1.3322, while EUR/GBP fell 0.02% to 0.8757.

The US Dollar Index Futures was up 0.39% at 94.09.

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Germany stocks higher at close of trade; DAX up 0.65%

Investing.com – Germany stocks were higher after the close on Friday, as gains in the Financial Services, Software and Pharmaceuticals&Healthcare sectors led shares higher.

At the close in Frankfurt, the DAX added 0.65%, while the MDAX index climbed 0.62%, and the TecDAX index added 0.84%.

The best performers of the session on the DAX were Vonovia SE (DE:VNAn), which rose 2.21% or 0.85 points to trade at 39.35 at the close. Meanwhile, Merck KGaA (DE:MRCG) added 1.98% or 1.66 points to end at 85.36 and Covestro AG (DE:1COV) was up 1.79% or 1.380 points to 78.580 in late trade.

The worst performers of the session were E.ON SE NA (DE:EONGn), which fell 0.26% or 0.024 points to trade at 9.166 at the close. Daimler AG NA O.N. (DE:DAIGn) declined 0.23% or 0.150 points to end at 65.070 and Heidelbergcement AG O.N. (DE:HEIG) was down 0.18% or 0.140 points to 78.860.

The top performers on the MDAX were CTS Eventim AG (DE:EVDG) which rose 3.41% to 41.800, Fuchs Petrolub AG VZO Pref (DE:FPEG_p) which was up 2.57% to settle at 46.380 and Osram Licht AG (DE:OSRn) which gained 2.45% to close at 52.76.

The worst performers were Rocket Internet (DE:RKET) which was down 3.84% to 23.56 in late trade, Metro AG (DE:MEOG) which lost 0.98% to settle at 8.514 and Stroeer SE (DE:SAXG) which was down 0.95% to 57.600 at the close.

The top performers on the TecDAX were Evotec AG O.N. (DE:EVTG) which rose 3.81% to 15.140, Dialog Semiconductor (DE:DLGS) which was up 3.20% to settle at 19.530 and Carl Zeiss Meditec AG (DE:AFXG) which gained 2.99% to close at 60.250.

The worst performers were SMA Solar Technology AG (DE:S92G) which was down 5.81% to 52.700 in late trade, Medigene NA O.N. (DE:MDG1k) which lost 3.71% to settle at 14.290 and Jenoptik AG (DE:JENG) which was down 0.77% to 36.200 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 439 to 264 and 85 ended unchanged.

Shares in Metro AG (DE:MEOG) fell to 52-week lows; losing 0.98% or 0.084 to 8.514. Shares in Carl Zeiss Meditec AG (DE:AFXG) rose to all time highs; up 2.99% or 1.750 to 60.250.

The DAX volatility index, which measures the implied volatility of DAX options, was down 3.71% to 16.56.

Gold Futures for June delivery was down 0.06% or 0.80 to $1303.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 4.19% or 2.96 to hit $67.75 a barrel, while the July Brent oil contract fell 3.39% or 2.67 to trade at $76.12 a barrel.

EUR/USD was down 0.44% to 1.1667, while EUR/GBP unchanged 0.00% to 0.8759.

The US Dollar Index Futures was up 0.38% at 94.08.

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Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.41%

Investing.com – Sweden stocks were lower after the close on Friday, as losses in the Oil&Gas, Consumer Services and Telecoms sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 fell 0.41%.

The best performers of the session on the OMX Stockholm 30 were Securitas AB ser. B (ST:SECUb), which rose 2.41% or 3.35 points to trade at 142.40 at the close. Meanwhile, Volvo, AB ser. B (ST:VOLVb) added 0.96% or 1.53 points to end at 160.28 and Tele2 AB (ST:TEL2b) was up 0.87% or 0.95 points to 110.00 in late trade.

The worst performers of the session were H&M Hennes&Mauritz AB B (ST:HMb), which fell 2.92% or 4.2 points to trade at 139.9 at the close. Telia Company AB (ST:TELIA) declined 2.60% or 1.12 points to end at 42.02 and Essity AB B (ST:ESSITYb) was down 1.06% or 2.50 points to 233.00.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 333 to 275 and 59 ended unchanged.

Crude oil for July delivery was down 4.16% or 2.94 to $67.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 3.34% or 2.63 to hit $76.16 a barrel, while the June Gold Futures contract fell 0.07% or 0.90 to trade at $1303.50 a troy ounce.

EUR/SEK was down 0.60% to 10.2067, while USD/SEK fell 0.13% to 8.7491.

The US Dollar Index Futures was up 0.39% at 94.09.

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Greece stocks lower at close of trade; Athens General Composite down 1.98%

Investing.com – Greece stocks were lower after the close on Friday, as losses in the Banking, Technology and Oil&Gas sectors led shares lower.

At the close in Athens, the Athens General Composite lost 1.98% to hit a new 3-months low.

The best performers of the session on the Athens General Composite were Fourlis Hld (AT:FRLr), which rose 3.15% or 0.180 points to trade at 5.900 at the close. Meanwhile, Coca Cola HBC AG (AT:EEEr) added 2.44% or 0.7250 points to end at 30.4850 and Autohellas (AT:AUTr) was up 1.75% or 0.40 points to 23.20 in late trade.

The worst performers of the session were Iaso (AT:IASr), which fell 8.89% or 0.080 points to trade at 0.820 at the close. Attica Bank SA (AT:BOAr) declined 7.97% or 0.024 points to end at 0.277 and Piraeus Bank SA (AT:BOPr) was down 7.69% or 0.200 points to 2.400.

Falling stocks outnumbered advancing ones on the Athens Stock Exchange by 89 to 19 and 15 ended unchanged.

Shares in Coca Cola HBC AG (AT:EEEr) rose to all time highs; gaining 2.44% or 0.7250 to 30.4850. Shares in Attica Bank SA (AT:BOAr) fell to 52-week lows; falling 7.97% or 0.024 to 0.277.

Gold Futures for June delivery was down 0.09% or 1.20 to $1303.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 3.48% or 2.46 to hit $68.25 a barrel, while the July Brent oil contract fell 2.70% or 2.13 to trade at $76.66 a barrel.

EUR/USD was down 0.44% to 1.1667, while EUR/GBP rose 0.01% to 0.8760.

The US Dollar Index Futures was up 0.39% at 94.09.

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Oil Prices Slump As OPEC, Russia Consider Raising Oil Output

Investing.com - Oil prices slumped lower on Friday after news that Russia and the Organization of Petroleum Exporting Countries were discussing raising oil output by one million barrels per day (bpd).

Brent crude futures, the benchmark for oil prices outside the U.S., slumped 2.27% to $77.00 a barrel as of 10:02 AM ET (14:02 GMT). Meanwhile crude oil futures decreased 2.73% to $68.78 a barrel.

Oil prices have jumped over 70% in the last year due to a rise in demand and restricted supply by OPEC.

But OPEC and Russia could raise oil output by as much as one million bpd as soon as June after the White House raised concerns that oil prices were too high, Reuters reported.

Prices dipped lower after Saudi Arabia energy minister Khalid Al-Falih said the country was prepared to adjust its policy in June but did not confirm by how much output could increase. Saudi Arabia is concerned the de facto leader of OPEC.

OPEC has been cutting crude output by 1.8 million bpd to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018. The organization is set to meet in Vienna on June 22.

Prices were also held back by geopolitical concerns, including impeding U.S. sanctions against Iran, which produces 4% of global oil supplies. Elsewhere, U.S. President Donald Trump cancelled a planned summit with North Korea, increasing tensions in the region.

Investors were also looking ahead to inventory data later in the day. The weekly instalment of drilling activity from Baker Hughes will provide investors with fresh insight into U.S. oil production and demand.

Data last week showed the number of U.S. oil rigs steadied after rising for five weeks in a row.

In other energy trading, Gasoline RBOB Futures decreased 1.80% at $2.1933 a gallon, while heating oil fell 1.83% to $2.2252 a gallon. Natural gas futures was up 0.48% to $2.954 per million British thermal units.

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Cryptos Attempt to Rally as Regulation Worries Ease

Investing.com - Cryptocurrencies were steady on Friday, as regulation concerns eased among investors but the digital assets still remained lower.

Bitcoin was trading at $7,505.6 rising 0.31% as of 9:11 AM ET (13:11 GMT) on the Bitfinex exchange, after falling to an earlier low of $7,377.80. The digital currency was down over 7% over the week.

Bitcoin had fallen to a six-week low on Thursday amid reports that the U.S. Justice Department is looking into whether traders are manipulating the price of Bitcoin and other virtual currencies.

The justice department is working with the Commodity Futures Trading Commission, which regulates derivatives tied to Bitcoin, on the probe. It’s just the latest of regulatory pressure that digital currencies have faced in recent months.

The criminal investigation includes looking into tactics such as spoofing and wash trading. Spoofing is when a trader submits orders and then cancels them once prices move, while wash trades are when a trader gives a false impression of market demand.

As governments have increased regulation, digital currencies have fallen in value. The total market cap was at $336 billion at the time of writing, compared to $390 billion on Monday.

In other news, virtual currency exchange Coinbase acquired trading platform Paradex for an undisclosed sum.

Paradex allows customers to trade coins directly with each other using digital wallets, which will greatly expand the number and types of coins customers can trade through Coinbase.

Other digital coins were slightly higher with Ethereum, the world’s second largest cryptocurrency by market cap, up 3.57%% to $602.16 on the Bitfinex exchange. Ripple, the third largest virtual currency, decreased 0.32%% to $0.61219 while Litecoin was at $120.66, up 0.35%.

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Coinbase Acquires Paradex To Boost Crypto Trading Market Share

Investing.com - Coinbase has made another move to own a larger share of the growing cryptocurrency market.
The leading U.S. exchange has acquired the trading platform Paradex for an undisclosed sum.
Paradex allows customers to trade coins directly with each other using digital wallets, rather than through a centralized exchange like Coinbase's, which maintains custody of the tokens on behalf of its users.
The acquisition will greatly expand the number and types of coins customers can trade through Coinbase.
Right now, Coinbase only offers trading in four of the biggest cryptocurrencies: bitcoin, either, litecoin and bitcoin cash. The Paradex platform facilitates trading in hundreds of coins.
Coinbase recently announced a number of new products, including a dedicated trading platform, to attract institutional investors.

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Stocks- U.S. Futures Inch Up as Geopolitical Worries Ease

Investing.com – U.S. futures were up slightly on Friday as geopolitical worries cooled and investors looked ahead to a speech from Fed Chairman Jerome Powell.

The S&P 500 futures was up six points 0.35% to 2,734.25 as of 6:44 AM ET (10:44 GMT) while Dow futures increased 62 points or 0.25% to 24,865.0. Meanwhile tech heavy Nasdaq 100 futures rose 29 points or 0.42% to 6,986.25.

Markets closed in the red on Thursday after U.S. President Donald Trump cancelled a planned summit with North Korea.

On Friday North Korean leader Kim Jong Un said he was still open to talks after the White House said in a statement that it would be "inappropriate" to have a planned summit at this time. Trump and Kim Jong Un were set to meet in Singapore on June 12 to discuss possible denuclearization.

Investors will be listening into comments from Federal Reserve Chairman Jerome Powell after dovish Fed minutes on Wednesday. The Federal Reserve’s minutes showed policymakers were content with inflation temporarily overshooting the 2% target, pushing odds for a fourth rate hike this year back below the 50% threshold.

Powell will participate in a panel discussion of "Financial Stability and Central Bank Transparency" sponsored by the Sveriges Riskbank scheduled from 9:15AM ET (13:15GMT) to 10:30AM ET (14:30GMT) in Stockholm, Sweden.

Nuclear power firm Babcock & Wilcox Enterprises Inc (NYSE:BW) was among the biggest gainers in pre-market trading, rising 19.28%, while Bilibili Inc (NYSE:BILI) increase 2.38% and Chinese e-commerce firm Alibaba (NYSE:BABA) inched up 0.37%.

Elsewhere BP (LON:BP) PLC ADR (NYSE:BP) (LON:BP) was down 1.36%.

In earnings news, Foot Locker (NYSE:FL) is expected to report its earnings before the morning bell. On the economic front, core durable goods come out at 8:30 AM ET (12:30 GMT) followed by the Michigan Consumer Sentiment at 10:00 AM ET (14:00 GMT).

In Europe stocks were mostly up. Germany’s DAX rose 132 points or 1.03% while in France the CAC 40 increased 32 points or 0.58% and in London, the FTSE 100 was up 15 points or 0.20%. Meanwhile the pan-European Euro Stoxx 50 gained 16 points or 0.46% while Spain’s IBEX 35 fell 114 points or 1.14% after Spain’s main opposition group filed a no-confidence motion against Prime Minister Mariano Rajoy.

In commodities, gold futures rose 0.08% to $1,305.50 a troy ounce while crude oil futures decreased 1.95% to $69.33 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was up 0.01%% to 93.73.

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.49%

Investing.com – Indonesia stocks were higher after the close on Friday, as gains in the Basic Industry, Financials and Trade sectors led shares higher.

At the close in Jakarta, the IDX Composite Index rose 0.49%.

The best performers of the session on the IDX Composite Index were Hotel Mandarine Regency Tbk PT (JK:HOME), which rose 30.00% or 36 points to trade at 156 at the close. Meanwhile, Rimau Multi Putra Pratama (JK:CMPP) added 25.00% or 60 points to end at 300 and Guna Timur Raya PT (JK:TRUK) was up 24.42% or 105 points to 535 in late trade.

The worst performers of the session were Terregra Asia Energy PT (JK:TGRA), which fell 21.71% or 127 points to trade at 458 at the close. Yanaprima Hastapersada Tbk (JK:YPAS) declined 21.52% or 170 points to end at 620 and Sona Topas Tourism Industry (JK:SONA) was down 14.06% or 450 points to 2750.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 194 to 175 and 120 ended unchanged.

Shares in Guna Timur Raya PT (JK:TRUK) rose to all time highs; up 24.42% or 105 to 535.

Crude oil for July delivery was down 1.95% or 1.38 to $69.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 2.01% or 1.58 to hit $77.21 a barrel, while the June Gold Futures contract rose 0.02% or 0.20 to trade at $1304.60 a troy ounce.

USD/IDR was down 0.20% to 14102.0, while AUD/IDR fell 0.05% to 10728.00.

The US Dollar Index Futures was up 0.05% at 93.77.

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Top 5 Things to Know in the Market on Friday

Investing.com - Here are the top five things you need to know in financial markets on Friday, May 25:

1. Fed chair Powell in the spotlight

An appearance by Federal Reserve chairman Jerome Powell Friday will likely garner special attention following the release of dovish Fed minutes on Wednesday. The Federal Reserve’s minutes showed policymakers were content with inflation temporarily overshooting the 2% target, pushing odds for a fourth rate hike this year back below the 50% threshold.

Powell will participate in a panel discussion of "Financial Stability and Central Bank Transparency" sponsored by the Sveriges Riskbank scheduled from 9:15AM ET (13:15GMT) to 10:30AM ET (14:30GMT) in Stockholm, Sweden.

While markets have fully priced in a second hike at the June 12-13 meeting, traders have been considering whether the U.S. central bank may become slightly more aggressive in policy tightening, given recent signs of a pickup in inflation.

The June policy decision will be accompanied by updated economic projections and investors will keep a close eye on the “dot plot” which shows policymakers’ forecasts for interest rates.

Separately, Atlanta Fed president Raphael Bostic, Chicago Fed chief Charles Evans and Dallas Fed president Robert Kaplan will participate in a panel discussion at the Federal Reserve Bank of Dallas conference entitled "Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy" in Dallas at 11:45AM ET (15:45GMT).

2. Dollar steady ahead of Powell, durable goods

The dollar showed little movement in early morning trade on Friday, on track for slight weekly gains of around 0.3%, as investors looked forward to any clues on monetary policy from Fed chair Jerome Powell and waited for the day’s economic data.

The Commerce Department will release its preliminary report on April durable goods orders at 8:30AM ET (12:30GMT) with forecasts pointing to a 1.4% decline. The more closely watched core reading is expected to show a 0.5% increase.

The University of Michigan will also provide an updated reading of consumer sentiment in May. Markets are currently expecting no revision to the preliminary reading of 98.8.

At 5:52AM ET (9:52GMT), the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged forward 0.11% at 93.82.

3. Output concerns continue to slam oil ahead of U.S. shale output data

Oil slid on Friday amid growing concerns that the Organization of Petroleum Exporting Countries could increase output as soon as June and while market participants waited the most recent reading on U.S. shale production.

Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil output by around 1 million barrels per day (bpd), easing 17 months of strict supply curbs amid concerns that a price rally has gone too far, sources familiar with the matter told Reuters on Friday.

OPEC and non-OPEC producers led by Russia have been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018. The organization is set to meet in Vienna on June 22.

U.S. crude oil futures slid 1.91% to $69.36 at 5:57AM ET (9:57GMT), while Brent oil slumped 2.04% to $77.18.

Meanwhile, market participants looked ahead to the weekly instalment of drilling activity from Baker Hughes on Friday that will provide investors with fresh insight into U.S. oil production and demand.

Data last week showed the number of U.S. oil rigs steadied after rising for five weeks in a row.

4. Foot Locker quarterly results on tap

Foot Locker (NYSE:FL) is slated to release first-quarter earnings before U.S. markets open on Friday amid expectations that a stronger domestic performance from Nike (NYSE:NKE) bolstered the sports retailer’s same-store sales.

Foot Locker is expected to report earnings of $1.25 per share on $1.96 billion revenue.

While waiting for Foot Locker’s results, several firms were expected to see big moves after releasing their own earnings after the market close a day earlier.

Gap (NYSE:GPS) saw shares tumble nearly 8% in extended hours after the retailer reported worse-than-expected earnings per share, Ross Stores (NASDAQ:ROST) sank 5% after the department store chain disappointed with its second quarter same-store sales forecast and Autodesk (NASDAQ:ADSK) slid more than 5% as the software company also provided a weak outlook.

On the upside, Deckers Outdoor (NYSE:DECK) jumped more than 4% as the apparel retailer smashed consensus expectations on the top and bottom line.

5. Global shares find solace in North Korean response to Trump

Global stocks were trading mostly higher on Friday as markets appeared to take relief in the conciliatory response provided by North Korea after U.S. President Donald Trump cancelled a June 12 summit.

North Korean vice foreign minister Kim Kye Gwan said Pyongyang still hoped for a "Trump formula" to resolve the standoff over its nuclear weapons program, noting that the country was open to resolving issues with the United States.

European stocks traded mostly higher nearing midday trade on Friday, while Asian shares closed mixed, but off intraday lows thanks to the North Korean announcement.

U.S. futures pointed to a higher open Friday ahead of Powell and the economic data, although trading was expected to be light ahead of the long holiday weekend. Wall Street will remain closed on Monday for Memorial Day. At 5:58AM ET (9:58GMT), the blue-chip Dow futures gained 61 points, or 0.25%, S&P 500 futures rose 6 points, or 0.22%, while the Nasdaq 100 futures traded up 28 points, or 0.40%.

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Forex- Dollar Steady While Sterling Dips Ahead of Powell, Carney Speech

Investing.com - The greenback was flat on Friday while the pound inched down as investors looked ahead to testimony from Fed Chair Jerome Powell and Bank of England Governor Mark Carney.

Both Federal Reserve Chairman Jerome Powell and BOE Governor Mark Carney are expected to participate in a panel discussion of "Financial Stability and Central Bank Transparency" at the "Sveriges Riskbank Conference: 350 Years of Central Banking - The Past, The Present and The Future" in Stockholm, Sweden at 9:15 AM ET (13:15 GMT).

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up slightly by 0.03% to 93.75 as of 5:17 AM ET (9:17 GMT).

The dollar was also held back by Fed meeting notes on Wednesday that suggested that while another interest rate hike is warranted, the central bank would accept inflation rising above its target rate for a while.

This was a surprise to investors, who expected that the Fed will increase interest rates and tighten monetary policy in the coming months. The Fed raised rates in March and is expected to raise rates twice more, with a 95% chance of a hike in June.

The dollar was up against the safe haven yen, with USD/JPY rising 0.26% to 109.52.

Meanwhile sterling was slightly lower after data showed the annual UK economy was unrevised at 1.2%. GBP/USD fell 0.10% to 1.3365. The euro was also higher, but was held back by economic and political worries in Europe. The EUR/USD inched up 0.01% to 1.1719.

Elsewhere, the Australian dollar was higher, with AUD/USD up 0.11% to 0.7584 while NZD/USD rose 0.10% to 0.6933.

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Philippines stocks lower at close of trade; PSEi Composite down 0.07%

Investing.com – Philippines stocks were lower after the close on Friday, as losses in the Banking&Financials, Property and Services sectors led shares lower.

At the close in Philippines, the PSEi Composite declined 0.07%.

The best performers of the session on the PSEi Composite were JG Summit Holdings Inc (PS:JGS), which rose 2.20% or 1.300 points to trade at 60.300 at the close. Meanwhile, Universal Robina Corp (PS:URC) added 2.03% or 2.70 points to end at 135.70 and Robinsons Land Corp (PS:RLC) was up 2.01% or 0.400 points to 20.300 in late trade.

The worst performers of the session were Security Bank Corp (PS:SECB), which fell 4.00% or 8.00 points to trade at 192.00 at the close. Megaworld Corp (PS:MEG) declined 2.28% or 0.110 points to end at 4.710 and Bank of the Philippine Islands (PS:BPI) was down 2.02% or 2.00 points to 97.00.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 95 to 92 and 55 ended unchanged.

Gold Futures for June delivery was down 0.01% or 0.10 to $1304.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.83% or 0.59 to hit $70.12 a barrel, while the July Brent oil contract fell 1.31% or 1.03 to trade at $77.76 a barrel.

CNY/PHP was up 0.51% to 8.2404, while USD/PHP rose 0.15% to 52.626.

The US Dollar Index Futures was up 0.04% at 93.76.

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Oil Prices Continue to Fall Amid Output Concerns

Investing.com - Oil prices were lower on Friday amid increased output concerns from Russia and the Organization of Petroleum Exporting Countries.

Brent crude futures, the benchmark for oil prices outside the U.S., slumped 1.32% to $77.75 a barrel as of 4:33 AM ET (8:33 GMT). Meanwhile crude oil futures decreased 0.88% to $70.09 a barrel.

Oil prices have jumped over 70% in the last year due to a rise in demand and restricted supply by OPEC.

But OPEC and Russia could raise oil output as soon as June after the White House raised concerns that oil prices were too high, leading to a slump in prices this week.

Russian energy minister Alexander Novak said Thursday that restrictions on oil production could be eased “softly” if OPEC and non-OPEC countries see the oil market balancing in June.

OPEC has been cutting crude output by 1.8 million barrels per day (bpd) to prop up oil prices. The pact began in January 2017 and is set to expire at the end of 2018. The organization is set to meet in Vienna on June 22.

Meanwhile, increased production in the U.S. has also lowered prices, with U.S. oil inventories rising by 5.8 million barrels in the week to May 18 to 438.1 million barrels.

Prices were also held back by geopolitical concerns, including impeding U.S. sanctions against Iran, which produces 4% of global oil supplies. Elsewhere, U.S. President Donald Trump cancelled a planned summit with North Korea, increasing tensions in the region.

In other energy trading, Gasoline RBOB Futures decreased 0.90% at $2.2135 a gallon, while heating oil fell 1.04% to $2.2432 a gallon. Natural gas futures inched down 0.03% to $2.939 per million British thermal units.

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China stocks lower at close of trade; Shanghai Composite down 0.40%

Investing.com – China stocks were lower after the close on Friday, as losses in the Telecoms, Mobile and Software&Computer Services sectors led shares lower.

At the close in Shanghai, the Shanghai Composite declined 0.40%, while the SZSE Component index lost 1.10%.

The best performers of the session on the Shanghai Composite were Nanjing Inform Storage Equipment Group Co Ltd (SS:603066), which rose 10.03% or 1.12 points to trade at 12.29 at the close. Meanwhile, Suzhou Douson Drilling&Production Equipment Co Ltd (SS:603800) added 10.01% or 2.000 points to end at 21.990 and Hainan Haiqi Transportation Group Co Ltd (SS:603069) was up 9.98% or 1.140 points to 12.560 in late trade.

The worst performers of the session were Eagle Mining (SS:600711), which fell 8.82% or 1.030 points to trade at 10.650 at the close. Chahua Modern Housewares Co Ltd (SS:603615) declined 6.96% or 1.17 points to end at 15.65 and SDIC Zhonglu Fruit Juice Co Ltd (SS:600962) was down 6.94% or 0.760 points to 10.190.

The top performers on the SZSE Component were Lander Sports Development Co Ltd (SZ:000558) which rose 5.58% to 5.11, Jiangxi Zhengbang Technology Co Ltd (SZ:002157) which was up 4.73% to settle at 5.09 and Suning Commerce Group Co Ltd (SZ:002024) which gained 4.57% to close at 15.32.

The worst performers were Shenzhen Techand Eco Environment (SZ:300197) which was down 10.05% to 5.37 in late trade, Dalian Zeus Entertainment (SZ:002354) which lost 10.00% to settle at 11.88 and Inner Mongolia Hotision Monsod (SZ:300355) which was down 9.99% to 8.20 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 897 to 435 and 46 ended unchanged.

Shares in Shenzhen Techand Eco Environment (SZ:300197) fell to 5-year lows; falling 10.05% or 0.60 to 5.37. Shares in Dalian Zeus Entertainment (SZ:002354) fell to 3-years lows; losing 10.00% or 1.32 to 11.88. Shares in Suning Commerce Group Co Ltd (SZ:002024) rose to 52-week highs; up 4.57% or 0.67 to 15.32. Shares in Inner Mongolia Hotision Monsod (SZ:300355) fell to 52-week lows; losing 9.99% or 0.91 to 8.20.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was up 0.14% to 21.42.

Gold Futures for June delivery was down 0.11% or 1.40 to $1303.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.45% or 0.32 to hit $70.39 a barrel, while the July Brent oil contract fell 0.53% or 0.42 to trade at $78.37 a barrel.

USD/CNY was up 0.15% to 6.3894, while EUR/CNY fell 0.08% to 7.4723.

The US Dollar Index Futures was up 0.19% at 93.90.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.05%

Investing.com – Taiwan stocks were higher after the close on Friday, as gains in the Electronic Parts/Components, Other Electronic and Electronics sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted rose 0.05%.

The best performers of the session on the Taiwan Weighted were Chilisin Electronics Corp (TW:2456), which rose 10.00% or 13.50 points to trade at 148.50 at the close. Meanwhile, Lelon Electronics Corp (TW:2472) added 9.98% or 6.30 points to end at 69.40 and Episil-Precision Inc (TW:3016) was up 9.93% or 5.50 points to 60.90 in late trade.

The worst performers of the session were Abocom Systems Inc (TW:2444), which fell 9.83% or 1.75 points to trade at 16.05 at the close. Uniflex Technology Inc (TW:3321) declined 9.62% or 1.15 points to end at 10.80 and Taiwan Prosperity Chemical Corp (TW:4725) was down 6.91% or 2.35 points to 31.65.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 463 to 339 and 110 ended unchanged.

Shares in Chilisin Electronics Corp (TW:2456) rose to all time highs; gaining 10.00% or 13.50 to 148.50. Shares in Abocom Systems Inc (TW:2444) fell to 52-week lows; losing 9.83% or 1.75 to 16.05. Shares in Lelon Electronics Corp (TW:2472) rose to all time highs; up 9.98% or 6.30 to 69.40. Shares in Uniflex Technology Inc (TW:3321) fell to 3-years lows; losing 9.62% or 1.15 to 10.80. Shares in Episil-Precision Inc (TW:3016) rose to 5-year highs; rising 9.93% or 5.50 to 60.90.

Crude oil for July delivery was down 0.38% or 0.27 to $70.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.48% or 0.38 to hit $78.41 a barrel, while the June Gold Futures contract fell 0.15% or 2.00 to trade at $1302.40 a troy ounce.

USD/TWD was down 0.00% to 29.946, while TWD/CNY unchanged 0.00% to 0.2129.

The US Dollar Index Futures was up 0.16% at 93.87.

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Forex – Dollar Firmer Despite U.S.-North Korea Tensions

Investing.com – The dollar rose against the other major currencies in Asia in late morning trade Friday, with the U.S. dollar index testing the 94 level. The market appeared to take in stride news that U.S. President Donald Trump decided to cancel a planned summit with North Korean leader Kim Jong Un.

The greenback was not hit by Trump's decision to call off the June 12 summit, a move that may reignate geopolitical tensions in the region.

U.S. dollar index, which tracks the dollar against a basket of six major currencies, stood at 93.83, up 0.11%, at 11:42PM ET (03:42 GMT). This week the greenback climbed to its highest level for the year when the index hit 94.10 on Wednesday night.

The White House released a letter by Trump to Kim, in which the U.S. president regarding the cancelled summit. Trump cited “tremendous anger and open hostility” in recent statements from Pyongyang and called the outcome a setback for both North Korea and the world.

The USD/JPY pair added 0.27% to 109.54. The yen, which tends to rise in times of market turbulence, was not pushed higher by news of the cancelled summit, however. Tokyo Core CPI also came in slightly worse than expected, posting 0.5% versus the estimated 0.6%.

In Australia, the AUD/USD pair lost 0.11% at 0.7566. The geopolitical concerns sent the sentiment-linked Aussie a little lower.

In China, the People's Bank of China set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3867 versus the previous day's 6.3816. The USD/CNY pair gained 0.10% to trade at 6.3857.

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Oil Prices Dip On Potential Increase In Russian Output

Investing.com - Oil prices edged lower on Friday morning in Asia as Russia hinted it may increase output.

Crude Oil WTI Futuresfor July delivery were trading at $70.63 a barrel at 11:20PM ET (03:20 GMT), down 0.11%. Brent crude futures for July delivery, traded in London, were down 0.15% at $78.67 per barrel.

Shanghai Crude Oil WTI Futures for September delivery were down 0.50% at 480.60 yuan ($75.25) per barrel.

The Organization of the Petroleum Exporting Countries (OPEC) as well as a group of non-OPEC producers led by Russia started withholding output in 2017 to boost oil prices and clear a supply glut. The group had agreed to curb their output by about 1.8 million barrels per day (bpd).

But Russia, in particular, has shown eagerness to end the production cuts, with energy minister Alexander Novak saying on Thursday that restrictions on oil production could be eased “softly” if OPEC and non-OPEC countries see the oil market balancing in June.

OPEC and some non-OPEC major oil producers are scheduled to meet in Vienna on June 22.

Any signs that the group may be heading towards an early exit from the production cut agreement would weigh on prices.

While Russia and OPEC benefit from higher oil prices, which have risen by almost 20% since the end of last year, their voluntary production cuts have allowed other producers to ramp up output and gain market share.

U.S. crude oil production has risen by more than a quarter in the last two years, to 10.73 million bpd. Only Russia produces more, at around 11 million bpd.

Geopolitical risks remain the largest factor keeping oil markets on edge.

U.S. sanctions against Iran, which produces 4% of global oil supplies, will likely cause shortages later this year when trade restrictions take effect.

Production in Venezuela has also plunged to its lowest level in decades due to its ongoing economic crisis.

In the face of these worries, OPEC and Russia could step up production as soon as June to make up for the reduced supply.

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