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U.S. Housing Starts Fall in June

Investing.com - U.S. homebuilding fell in June, according to data released on Wednesday.

Housing starts decreased 12.3% to a seasonally adjusted annual rate of 1.173 million units last month, the Commerce Department said.

Economists had forecast housing starts declining to a pace of 1.320 million units last month.

Building permits fell 2.2% to a rate of 1.273 million units in June.

Economists had forecast building permits increasing to a pace of 1.330 million units last month.

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IMF Warns On Trade, Lowers Outlook For Key Economies

Investing.com - An escalation of trade tensions between the U.S. and other major countries is the biggest threat to the global economy, according to the International Monetary Fund's latest economic forecast.
The IMF's World Economic Outlook report said additional tariffs by the U.S., China and others could knock half of one percent off of global growth.
Despite that warning, the IMF did not change its forecast for global growth for 2018. It still expects the global economy to grow by 3.9%. Forecasts for China and the U.S. were also unchanged.
It did, however, lower its GDP growth forecasts for the euro zone, Japan and the U.K. in 2018.

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UPS In, FedEx Out For UBS

Investing.com - UBS has upgraded UPS and downgraded FedEx (NYSE:FDX).

The Wall Street firm lowered its rating on FedEx to neutral, while trimming its stock price forecast 10% to $256 a share.

UBS said the shipper is "exposed to risks from tariffs", noting that 55% of FedEx's revenue comes from its Global Express business.

Meanwhile, UBS upgraded UPS to buy, and raised its price target about 3% to $125 a share.

The firm said UPS could generate "significant cost savings", which will improve domestic margins and operating income.

Shares in both firms are down in 2018. UPS is off about 8%. FedEx is down about 5%.

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Morgan Stanley Shares Break Above $50 as Q2 Earnings Beat

Investing.com – Shares in Morgan Stanley extended gains in pre-market trade on Wednesday as the firm's second quarter results beat on the top and bottom line.

The financial services firm reported diluted earnings per share (EPS) of $1.30 in the April to June period.

Analysts had forecast $1.11 per share.

Meanwhile, the firm’s revenue increased to $10.6 billion from $9.5 billion in the same quarter a year earlier, beating the forecast for $10.05 billion.

“We reported robust revenue and earnings growth this quarter with strength across all businesses and geographies,” JP Morgan chief executive and chairman James Gorman said in the press release.

Gorman noted that second quarter performance reflected active markets and healthy client engagement.

“Our strong global franchise positions us well to continue to grow organically across each of our businesses and to deliver operating leverage,” he added.

At 7:02 AM ET (11:02 GMT), shares soared 3.96% to $51.15, compared to the previous closing price of $49.18. Ahead of the release, Morgan Stanley had been up 0.43% to $49.39 in pre-market trade.

Traders will now turn their attention to the firm’s conference call due to start at 9:30AM ET (13:30GMT).

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India stocks lower at close of trade; Nifty 50 down 0.25%

Investing.com – India stocks were lower after the close on Wednesday, as losses in the Metals, Real Estate and Auto sectors led shares lower.

At the close in NSE, the Nifty 50 lost 0.25%, while the BSE Sensex 30 index lost 0.40%.

The best performers of the session on the Nifty 50 were Indiabulls Housing Finance Ltd (NS:INBF), which rose 4.03% or 46.45 points to trade at 1199.65 at the close. Meanwhile, Oil And Natural Gas Corporation Ltd (NS:ONGC) added 2.66% or 4.15 points to end at 160.30 and Bharat Petroleum Corp. Ltd. (NS:BPCL) was up 2.25% or 8.85 points to 402.35 in late trade.

The worst performers of the session were Tata Steel Ltd (NS:TISC), which fell 5.33% or 28.35 points to trade at 504.25 at the close. Hindalco Industries Ltd. (NS:HALC) declined 3.01% or 6.60 points to end at 212.40 and Vedanta Ltd (NS:VDAN) was down 2.95% or 6.20 points to 203.70.

The top performers on the BSE Sensex 30 were Oil And Natural Gas Corporation Ltd (BO:ONGC) which rose 2.69% to 160.30, Asian Paints Ltd. (BO:ASPN) which was up 0.95% to settle at 1391.00 and Yes Bank Ltd (BO:YESB) which gained 0.92% to close at 384.25.

The worst performers were Tata Steel Ltd (BO:TISC) which was down 5.22% to 504.70 in late trade, Tata Motors Ltd DVR (BO:TAMdv) which lost 3.90% to settle at 137.95 and Vedanta Ltd (BO:VDAN) which was down 2.74% to 204.40 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1161 to 444 and 43 ended unchanged; on the Bombay Stock Exchange, 1665 fell and 840 advanced, while 132 ended unchanged.

Shares in Vedanta Ltd (NS:VDAN) fell to 52-week lows; falling 2.95% or 6.20 to 203.70. Shares in Asian Paints Ltd. (BO:ASPN) rose to all time highs; gaining 0.95% or 13.10 to 1391.00. Shares in Tata Motors Ltd DVR (BO:TAMdv) fell to 3-years lows; falling 3.90% or 5.60 to 137.95. Shares in Yes Bank Ltd (BO:YESB) rose to all time highs; up 0.92% or 3.50 to 384.25. Shares in Vedanta Ltd (BO:VDAN) fell to 52-week lows; losing 2.74% or 5.75 to 204.40.

The India VIX, which measures the implied volatility of Nifty 50 options, was up 6.69% to 13.6825.

Gold Futures for August delivery was down 0.36% or 4.40 to $1222.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.52% or 0.35 to hit $66.81 a barrel, while the September Brent oil contract fell 0.42% or 0.30 to trade at $71.86 a barrel.

USD/INR was up 0.32% to 68.585, while EUR/INR fell 0.12% to 79.7070.

The US Dollar Index Futures was up 0.36% at 95.07.

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Philippines stocks higher at close of trade; PSEi Composite up 0.94%

Investing.com – Philippines stocks were higher after the close on Wednesday, as gains in the Property, Holding Firms and Mining&Oil sectors led shares higher.

At the close in Philippines, the PSEi Composite added 0.94% to hit a new 1-month high.

The best performers of the session on the PSEi Composite were Megaworld Corp (PS:MEG), which rose 4.01% or 0.180 points to trade at 4.670 at the close. Meanwhile, Ayala Land Inc (PS:ALI) added 2.94% or 1.100 points to end at 38.500 and Ayala Corp (PS:AC) was up 2.73% or 26.00 points to 979.00 in late trade.

The worst performers of the session were LT Group Inc (PS:LTG), which fell 1.69% or 0.300 points to trade at 17.400 at the close. International Container Terminal Services Inc (PS:ICT) declined 0.62% or 0.500 points to end at 80.500 and Metropolitan Bank and Trust Co (PS:MBT) was down 0.36% or 0.25 points to 69.75.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 108 to 73 and 51 ended unchanged.

Gold Futures for August delivery was down 0.46% or 5.70 to $1221.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.80% or 0.54 to hit $66.62 a barrel, while the September Brent oil contract fell 1.03% or 0.74 to trade at $71.42 a barrel.

CNY/PHP was down 0.36% to 7.9642, while USD/PHP rose 0.09% to 53.483.

The US Dollar Index Futures was up 0.43% at 95.14.

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UK Inflation Rises by 2.4% in June

Investing.com - Inflation in the UK rose at a slower than expected rate in June, adding to the Bank of England's dilemma as it considers whether to raise interest rates next month.

The Office for National Statistics reported that the annual rate of inflation rose by 2.4% in June, matching May's figure which was a one-year low and falling short of expectations for an increase of 2.6%.

Underlying inflation rose by 1.9% on a year-over-year basis, slowing from 2.1% in the previous month and missing forecasts of 2.2%.

Consumer prices were flat for the month in June, down from 0.4% a month earlier and compared to forecasts of 0.2%.

The inflation figures came a day after data showing that wage growth in the UK slowed to its weakest rate in six months in the three months to May, despite record employment.

The steep drop in sterling in the wake of the June 2017 Brexit referendum drove up the cost of imports, leading to a spike in inflation. Although it has pulled back from its November peak of 3.1%, it is still running above the BoE’s target of 2%.

With inflation outstripping wage growth consumers are facing a cost of living squeeze, potentially making an August interest rate rise less likely.

The retail price index, published at the same time as the inflation data, ticked up to 3.4% from 3.3% year-on-year. The index is used to price some government debt.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.59%

Investing.com – Taiwan stocks were higher after the close on Wednesday, as gains in the Oil, Gas&Electricity, Computers&Peripherals and Cement sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted rose 0.59%.

The best performers of the session on the Taiwan Weighted were JSL Construction&Development Co Ltd (TW:2540), which rose 10.00% or 2.40 points to trade at 26.40 at the close. Meanwhile, Sunonwealth Electric Machine Industry Co Ltd (TW:2421) added 9.94% or 4.20 points to end at 46.45 and Arcadyan Technology Corp (TW:3596) was up 9.91% or 7.30 points to 81.00 in late trade.

The worst performers of the session were Darfon Electronics Corp (TW:8163), which fell 9.99% or 7.00 points to trade at 63.10 at the close. Pan Jit International Inc (TW:2481) declined 9.92% or 5.05 points to end at 45.85 and Green Seal Holding Ltd (TW:1262) was down 9.88% or 2.80 points to 25.55.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 520 to 287 and 114 ended unchanged.

Shares in Arcadyan Technology Corp (TW:3596) rose to all time highs; up 9.91% or 7.30 to 81.00. Shares in Green Seal Holding Ltd (TW:1262) fell to all time lows; falling 9.88% or 2.80 to 25.55.

Crude oil for September delivery was down 0.49% or 0.33 to $66.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.62% or 0.45 to hit $71.71 a barrel, while the August Gold Futures contract fell 0.25% or 3.10 to trade at $1224.20 a troy ounce.

USD/TWD was up 0.21% to 30.613, while TWD/CNY fell 0.18% to 0.2181.

The US Dollar Index Futures was up 0.22% at 94.94.

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Australia stocks higher at close of trade; S&P/ASX 200 up 0.61%

Investing.com – Australia stocks were higher after the close on Wednesday, as gains in the Metals&Mining, Healthcare and Materials sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 rose 0.61%.

The best performers of the session on the S&P/ASX 200 were Technology One Ltd (AX:TNE), which rose 5.70% or 0.270 points to trade at 5.010 at the close. Meanwhile, Afterpay Touch Group Ltd (AX:APT) added 4.79% or 0.500 points to end at 10.940 and Bega Cheese Ltd (AX:BGA) was up 4.03% or 0.310 points to 8.010 in late trade.

The worst performers of the session were Navitas Ltd (AX:NVT), which fell 3.55% or 0.150 points to trade at 4.080 at the close. Beach Energy Ltd (AX:BPT) declined 2.76% or 0.050 points to end at 1.760 and Oil Search Ltd (AX:OSH) was down 2.39% or 0.210 points to 8.590.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 720 to 502 and 350 ended unchanged.

Shares in Navitas Ltd (AX:NVT) fell to 52-week lows; falling 3.55% or 0.150 to 4.080. Shares in Bega Cheese Ltd (AX:BGA) rose to all time highs; gaining 4.03% or 0.310 to 8.010.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.12% to 12.464.

Gold Futures for August delivery was down 0.23% or 2.80 to $1224.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.61% or 0.41 to hit $66.75 a barrel, while the September Brent oil contract fell 0.64% or 0.46 to trade at $71.70 a barrel.

AUD/USD was down 0.32% to 0.7365, while AUD/JPY fell 0.22% to 83.23.

The US Dollar Index Futures was up 0.20% at 94.92.

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Oil Prices Drop as U.S. Crude Inventories Unexpectedly Rise

Investing.com - Oil prices declined on Wednesday after a slight increase in the previous session amid a surprise surge in US crude inventories reported last week.

Crude Oil WTI Futures for September delivery fell 0.42% to $66.88 per barrel at 12:22AM ET (04:22 GMT), while Brent Oil Futures dropped 0.3% to $71.94 for one barrel.

After rising to over $72 per barrel yesterday, Brent oil went back on the dropping track, as the American Petroleum Institute revealed a rise of over 600,000 barrels in US crude stockpiles last week.

Meanwhile, Libya reopened its ports and started exporting oil again after the closures of its oil field. The country’s National Oil Corporation announced its force majeure on exports from Zawiya oil terminal on Tuesday, in a bid to boosting national production.

The organisation’s Chairman Mustafa Sanalla said, “We have to prioritize local demand for fuel. For the time being all, Sharara production will go to the refinery.”

Iran, the world’s fifth largest oil producer, filed a lawsuit at the International Court of Justice against sanctions imposed by the U.S. in May, alleging that they violated a 1955 bilateral treaty between the two countries. The Islamic country asked the sanctions to be lifted provisionally.

On Monday, the US Treasury Secretary Steven Mnuchin said Washington might grant waivers to Iran oil purchases.

In other news, BMI Research said on Wednesday that the burgeoning US-China trade tensions can drag on the global economic outlook.

"Slowing trade growth will weigh on physical demand for oil, with the shipping, road and air freight sectors an important pillar of demand globally," BMI said.

Bart Melek, head of global commodity strategy at TD Securities in Toronto, said: “The combination of the supply-side effect and the potential for less demand as a result of trade woes that we’re seeing are prompting people to take some of the long bets off oil right now.”

Official numbers from the U.S. Department of Energy's Energy Information Administration are due at 10:30AMET (14:30 GMT) on Wednesday.

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Asian Stocks Gain as Powell Boosts U.S. Confidence; South Korea Cut Growth Outlook

Investing.com – Asian stocks rose in afternoon trade on Wednesday, tracking a Wall Street rally after Federal Reserve Chairman Jerome Powell gave a positive assessment of the U.S. economy during his congressional testimony. 

Overnight, The Dow rose 55.53 points to 25,119.89, the S&P 500 gained 0.4%, while the Nasdaq hit a record high as Netflix (NASDAQ:NFLX) and tech stocks rebounded.  

Powell noted that the central bank is on track to gradually raise interest rate, but warned that protectionism could potentially hinder economic growth. 

“In general, countries that have remained open to trade, that haven’t erected barriers including tariffs, have grown faster. They’ve had higher incomes, higher productivity,” he said. 

Meanwhile, another U.S. central banker said that the Fed should ease away from money policy accomodation and raise interest rate to avoid inflation as data showed the U.S. economy has improved in recent months.  

"At a time of full employment with price stability, policy should be a neutral influence on economic activity," Kansas City Federal Reserve Bank President Esther George said in remarks prepared for delivery to an agricultural symposium. "Gradual further increases in our policy rate will be necessary to return policy to a neutral stance, although there is considerable uncertainty about exactly how far or fast we need to go." 

In Asia, China’s Shanghai Composite rose 0.5%, while the Shenzhen Component climbed 0.1%. Hong Kong’s Hang Seng Index also rose 0.3%. 

Markets now shift their focus to how the government would react to mitigate the effects of the recent trade dispute with the U.S., after data released Monday showed that output in the second quarter slowed and factory activity cooled more than expected. 

Elsewhere, Japan and the European Union signed a trade agreement on Tuesday that would allow more movement of goods and services between the two economies as they seek countermeasures against U.S.’s protectionism. The Economic Partnership Agreement would help Japanese car exports and making it easier for European farmers to sell their produce in the Asian nation. The Nikkei 225 gained 0.6% following the news.

South Korea’s KOSPI added 0.3%. The Bank of Korea cut the country’s economic growth forecast for 2018 in its bi-annual economic policy report, and cited a weak labor market recovery and global trade tension as the reason for the cut.

"Apart from shipments of semiconductors, exports growth came to a halt and investment is shrinking," Do Kyu-sang, a director general at the ministry, said in a press conference. "The economy's capacity to create jobs is weakening," Do said.

Down under, Australia’s S&P/ASX 200 rose 0.8%. 

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Gold Prices Edge Lower After Fed Comments

Investing.com – Gold Prices were slightly lower on Wednesday and hovered near a one-year low as the dollar strengthened following Federal Reserve Chairman Jerome Powell’s comments on Tuesday that reinforced views the central bank is on track to gradually raise interest rates.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 0.04% to $1,226.80 a troy ounce by 12:55AM ET (04:55 GMT).      

A U.S. central banker said on Tuesday that the Fed should ease away from money policy accomodation and raise interest rate to avoid inflation as data showed the U.S. economy has improved in recent months.

"At a time of full employment with price stability, policy should be a neutral influence on economic activity," Kansas City Federal Reserve Bank President Esther George said in remarks prepared for delivery to an agricultural symposium. "Gradual further increases in our policy rate will be necessary to return policy to a neutral stance, although there is considerable uncertainty about exactly how far or fast we need to go."

His comments came after official data showed the country’s industrial production rose in June, boosted by a sharp rebound in manufacturing and further gains in mining output, the latest sign of robust economic growth in the second quarter.

The U.S. Dollar Index, which tracks the greenback against a basket of currencies, was up 0.13% to 95.05 on Wednesday.  

The dollar hit a six-month high against the yen, as the USD/JPY pair rose 0.1% to 112.97 after going as high as 113.08 earlier in the day, its strongest since January 9, following the upbeat remarks from Powell.  

In other news, Japan and the European Union signed a trade agreement on Tuesday that would allow more movement of goods and services between the two economies as they seek countermeasures against U.S.’s protectionism. The Economic Partnership Agreement would help Japanese car exports and making it easier for European farmers to sell their produce in the Asian nation.

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Forex – Dollar Strengthens After Powell Gives Upbeat Assessment of U.S. Economy

Investing.com – The dollar strengthened on Wednesday as Federal Reserve Chairman Jerome Powell presented a positive assessment of the U.S. economy during his semi-annual congressional testimony on Tuesday.

Powell also noted that the central bank is on track to gradually raise interest rate. 

The U.S. Dollar Index, which tracks the greenback against a basket of currencies, was up 0.13% to 95.05 on Wednesday.

The dollar hit a six-month high against the yen, as the USD/JPY pair rose 0.1% to 112.97 after going as high as 113.08 earlier in the day, its strongest since January 9, following the upbeat remarks from Powell.

"The dollar stands to gain further, particularly against the yen, with risk aversion in the equity markets petering out," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

"And while long-term Treasury yields are not rising prominently, this is a reflection of investor demand for U.S. assets that generates a degree of dollar-buying."

Powell also noted in his testimony that protectionism could potentially hinder economic growth. “In general, countries that have remained open to trade, that haven’t erected barriers including tariffs, have grown faster. They’ve had higher incomes, higher productivity,” he said. 

In addition, trade concerns “may well” have an impact on wages and capital expenditures, Powell added. “We don’t see it in the numbers yet, but we’ve heard a rising chorus of concern which now begins to speak of actual capex plans being put on ice for the time being,” he said. 

Elsewhere, the AUD/USD pair was 0.14% lower at $0.7381, extending the retreat from Tuesday when it lost 0.45% against a broadly stronger greenback.

The yuan was little changed against the dollar, as the USD/CNY pair slipped 0.02% to 6.7065 on Wednesday.

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Peru stocks higher at close of trade; S&P Lima General up 1.39%

Investing.com – Peru stocks were higher after the close on Tuesday, as gains in the Mining, Food&Beverages and Non-Metal Minerals sectors led shares higher.

At the close in Lima, the S&P Lima General rose 1.39%.

The best performers of the session on the S&P Lima General were Buenaventura (LM:BVN), which rose 6.74% or 0.840 points to trade at 13.300 at the close. Meanwhile, Grana Y Monter (LM:GRA) added 3.75% or 0.090 points to end at 2.490 and Casa Grande (LM:CSG) was up 3.75% or 0.150 points to 4.150 in late trade.

The worst performers of the session were Bco Continenta (LM:CON), which fell 2.12% or 0.090 points to trade at 4.150 at the close. Inversiones Centenario SAA (LM:ICE) declined 1.15% or 0.040 points to end at 3.430 and Milpo (LM:MIL) was 0.00% or 0.000 points to 4.000.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 20 to 2 and 9 ended unchanged.

Crude oil for September delivery was down 0.58% or 0.39 to $66.68 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September unchanged 0.00% or 0.00 to hit $71.70 a barrel, while the August Gold Futures contract fell 0.99% or 12.30 to trade at $1227.40 a troy ounce.

USD/PEN was up 0.12% to 3.2725, while EUR/PEN fell 0.46% to 3.8095.

The US Dollar Index Futures was up 0.49% at 94.73.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 0.52%

Investing.com – Mexico stocks were higher after the close on Tuesday, as gains in the Materials, Industrials and Consumer Staples sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC rose 0.52%.

The best performers of the session on the S&P/BMV IPC were Nemak SAB de CV (MX:NEMAKA), which rose 5.22% or 0.70 points to trade at 14.10 at the close. Meanwhile, Mexichem , S.A.B. De C.V. (MX:MEXCHEM) added 3.58% or 2.110 points to end at 61.000 and Grupo Carso, S.A.B. De C.V. (MX:GCARSOA1) was up 3.54% or 2.450 points to 71.610 in late trade.

The worst performers of the session were VOLARIS A (MX:VOLARA), which fell 2.59% or 0.31 points to trade at 11.64 at the close. Grupo Bimbo, S.A.B. De C.V. (MX:BIMBOA) declined 1.77% or 0.690 points to end at 38.290 and Alsea , S.A.B. De C.V. (MX:ALSEA) was down 1.67% or 1.110 points to 65.260.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 152 to 127 and 13 ended unchanged.

Shares in Mexichem, S.A.B. De C.V. (MX:MEXCHEM) rose to 3-years highs; rising 3.58% or 2.110 to 61.000.

Gold Futures for August delivery was down 0.94% or 11.70 to $1228.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.34% or 0.23 to hit $66.84 a barrel, while the September Brent oil contract fell 0.04% or 0.03 to trade at $71.81 a barrel.

USD/MXN was up 0.43% to 18.9002, while EUR/MXN rose 0.01% to 22.0440.

The US Dollar Index Futures was up 0.48% at 94.72.

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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.22%

Investing.com – U.S. stocks were higher after the close on Tuesday, as gains in the Basic Materials, Consumer Goods and Technology sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average added 0.22% to hit a new 1-month high, while the S&P 500 index climbed 0.40%, and the NASDAQ Composite index climbed 0.63%.

The best performers of the session on the Dow Jones Industrial Average were Johnson&Johnson (NYSE:JNJ), which rose 3.54% or 4.42 points to trade at 129.11 at the close. Meanwhile, DowDuPont Inc (NYSE:DWDP) added 2.04% or 1.34 points to end at 67.06 and United Technologies Corporation (NYSE:UTX) was up 1.34% or 1.73 points to 130.71 in late trade.

The worst performers of the session were UnitedHealth Group Incorporated (NYSE:UNH), which fell 2.60% or 6.69 points to trade at 250.29 at the close. International Business Machines (NYSE:IBM) declined 1.35% or 1.97 points to end at 143.49 and Chevron Corp (NYSE:CVX) was down 0.87% or 1.07 points to 121.91.

The top performers on the S&P 500 were Perrigo Co (NYSE:PRGO) which rose 3.98% to 78.03, The Charles Schwab Corporation (NYSE:SCHW) which was up 3.56% to settle at 52.88 and Johnson&Johnson (NYSE:JNJ) which gained 3.54% to close at 129.11.

The worst performers were Omnicom Group Inc (NYSE:OMC) which was down 9.49% to 70.69 in late trade, Interpublic Group of Companies Inc (NYSE:IPG) which lost 6.08% to settle at 22.26 and Netflix Inc (NASDAQ:NFLX) which was down 5.24% to 379.48 at the close.

The top performers on the NASDAQ Composite were Ameri Holdings Inc (NASDAQ:AMRH) which rose 47.46% to 1.74, Riot Blockchain Inc (NASDAQ:RIOT) which was up 37.64% to settle at 6.2900 and Champions Oncology Inc (NASDAQ:CSBR) which gained 25.43% to close at 7.3000.

The worst performers were Alliance MMA Inc (NASDAQ:AMMA) which was down 31.09% to 0.20 in late trade, MER Telemanagement Solutions Ltd (NASDAQ:MTSL) which lost 27.46% to settle at 2.0600 and AVEO Pharmaceuticals Inc (NASDAQ:AVEO) which was down 24.21% to 2.1600 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1755 to 1273 and 130 ended unchanged; on the Nasdaq Stock Exchange, 1443 rose and 1121 declined, while 126 ended unchanged.

Shares in Alliance MMA Inc (NASDAQ:AMMA) fell to all time lows; falling 31.09% or 0.09 to 0.20. Shares in Champions Oncology Inc (NASDAQ:CSBR) rose to 52-week highs; up 25.43% or 1.4800 to 7.3000.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 6.16% to 12.04.

Gold Futures for August delivery was down 0.96% or 11.90 to $1227.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.03% or 0.02 to hit $67.09 a barrel, while the September Brent oil contract rose 0.19% or 0.14 to trade at $71.98 a barrel.

EUR/USD was down 0.41% to 1.1662, while USD/JPY rose 0.50% to 112.85.

The US Dollar Index Futures was up 0.48% at 94.72.

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Brazil stocks higher at close of trade; Bovespa up 1.93%

Investing.com – Brazil stocks were higher after the close on Tuesday, as gains in the Financials, Consumption and Industrials sectors led shares higher.

At the close in Sao Paulo, the Bovespa rose 1.93% to hit a new 1-month high.

The best performers of the session on the Bovespa were Metalurgica Gerdau SA (SA:GOAU4), which rose 5.83% or 0.42 points to trade at 7.62 at the close. Meanwhile, Viavarejo Unt (SA:VVAR11) added 5.03% or 0.88 points to end at 18.38 and Localiza Rent a Car SA (SA:RENT3) was up 4.49% or 1.05 points to 24.44 in late trade.

The worst performers of the session were Estacio Participacoes SA (SA:ESTC3), which fell 4.10% or 1.10 points to trade at 25.70 at the close. Engie Brasil Energia SA (SA:EGIE3) declined 1.96% or 0.71 points to end at 35.50 and Suzano Papel e Celulose SA (SA:SUZB3) was down 1.40% or 0.62 points to 43.69.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 271 to 147 and 24 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 2.60% to 31.14 a new 1-month low.

Gold Futures for August delivery was down 0.95% or 11.80 to $1227.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.03% or 0.02 to hit $67.09 a barrel, while the September US coffee C contract fell 1.18% or 1.30 to trade at $109.12 .

USD/BRL was down 0.46% to 3.8454, while EUR/BRL fell 0.87% to 4.4845.

The US Dollar Index Futures was up 0.48% at 94.72.

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Stocks - Nasdaq Closes at Record High as Netflix Pares Losses

Investing.com – The tech-heavy Nasdaq closed at record highs Tuesday, led by a rebound in Netflix from its lows and a surge in Amazon, as the e-commerce giant's 'Prime Day' sales bonanza triggered a sharp uptick in sales.

The Dow Jones Industrial Average rose about 0.22%. The S&P 500 gained roughly 0.40%, while the Nasdaq Composite added about 0.63%.

Bargain-hunting investors piled into Netflix (NASDAQ:NFLX) stock after it plunged more than 14% intraday on the back of a weaker-than-expected quarterly report.

The streaming giant said Monday after markets closed that it added just 5.2 million subscribers in the second quarter of the year. That was well below the company's own guidance of about 6.2 million new user additions for the quarter.

Tech was further bolstered by a surge in Amazon (NASDAQ:AMZN) to record highs after a report suggested the e-commerce giant 'Prime Day' sales growth soared year on year in the first 12 hours of the sales event.

Sales soared by 89% in the first 12 hours of Prime Day compared to the first 12 hours last year, according to Feedvisor.

Positive earnings from Goldman Sachs, Johnson & Johnson and UnitedHealth Group also boosted the broader market.

Goldman Sachs posted earnings that topped consensus, while UnitedHealth reported above-consensus earnings, but premiums fell short. Johnson & Johnson, meanwhile, topped consensus on both the top and bottom lines.

Goldman Sachs also revealed, as was widely expected, that David M. Solomon would succeed Lloyd Blankfein as the bank's chief executive officer.

Sentiment on equities was also supported by Federal Reserve Chairman Jerome Powell's upbeat assessment of the economy.

"Our policies reflect the strong performance of the economy and are intended to help make sure that this trend continues," Powell said.

Powell will remain in focus Wednesday as he slated to testify before the House Financial Services Committee.

The rally in the broader market was held back, however, by continued weakness in the energy sector, as oil prices remained under pressure despite rebounding from a nearly one-month low intraday.

On the New York Mercantile Exchange crude futures for August delivery gained 2 cents to settle at $68.08 a barrel.

In economic news, a rebound in U.S. industrial production in June amid a renewed manufacturing output, and gains in mining production, had a somewhat muted impact on market direction.

On the political front, U.S. President Donald Trump walked back his comments on Russia's meddling in the U.S. election, insisting that he had meant to say: "I don’t see any reason why it wouldn’t be Russia.”

Top Gainers and Losers on Wall Street Today:

The top Dow gainers for the session: Johnson & Johnson (NYSE:JNJ) gained roughly 3.5%, DowDuPont (NYSE:DWDP) rose about 2.04% and Microsoft (NASDAQ:MSFT) added about 0.99%.

UnitedHealth Group (NYSE:UNH) down about 2.6%, IBM (NYSE:IBM) off 1.35% and Chevron (NYSE:CVX) down roughly 0.87%, were among the worst Dow performers of the session.

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Fed Fund Futures Take Powell’s Testimony in Stride, 2 Rate Hikes Remain on Tap

Investing.com - As Federal Reserve chairman Jerome Powell emphasized the need for gradual rate hikes in the U.S. on Tuesday, markets left forecasts unchanged for the future path of monetary policy, predicting a further two increases this year.

After Powell’s semiannual monetary policy report to Congress, odds for the next Fed hike in September were virtually unchanged at 89%, according to Investing.com’s Fed Rate Monitor Tool.

Fed fund futures priced in the probability of a second hike in December at nearly 65%, up slightly from the odds earlier in the day.

Powell emphasized that it was appropriate to follow the central bank’s current plan to gradually increase interest rates.

“With a strong job market, inflation close to our objective, and the risks to the outlook roughly balanced, the FOMC believes that--for now--the best way forward is to keep gradually raising the federal funds rate,” Powell said.

While once again emphasizing his upbeat outlook for the economy with a strong jobs market and the Fed’s belief that inflation will remain near the 2% target for several years, Powell admitted that trade uncertainty complicated the outlook.

He explained that financial conditions remained favorable to growth, that a stronger financial system was in a good position to meet the credit needs of households and businesses, tax and spending policies would likely continue to support the expansion and the outlook for economic growth abroad remains solid despite greater uncertainties in several parts of the world.

However, he admitted that “it is difficult to predict the ultimate outcome of current discussions over trade policy as well as the size and timing of the economic effects of the recent changes in fiscal policy.”

With the Fed closely monitoring wage inflation for evidence of diminishing slack in the labor market and upward pressure on inflation, Powell admitted that increases have not been as rapid as prior to the crisis.

“Wages are growing a little faster than they did a few years ago. That said, they still are not rising as fast as in the years before the crisis,” he stated.

Powell attributed the fact to lack of growth in productivity and said that the only way wage growth can go up is by productivity growth.

The Fed chief stressed the need for the central bank to monitor a wide range of relevant information when deciding what monetary policy will be appropriate.

“As always, our actions will depend on the economic outlook, which may change as we receive new data,” he warned.

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Gold Prices Sink to Year Low as Dollar Reigns Supreme on Powell's Upbeat Outlook

Investing.com – Gold prices fell to a year low Tuesday, pressured by a rally in the greenback as Federal Reserve Chairman Jay Powell said gradual rate hikes would continue.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $11.60, or 0.94%, to $1,228.00 a troy ounce, after trading as high as $1,245.10 intraday.

In his semi-annual testimony to Congress Tuesday, Powell said the "best way forward" is to continue raising rates, as the job market has strengthened and inflation has met the Fed's 2% target.

That reaffirmed investor expectations that the Federal Reserve will increased interest rates twice more this year, prompting investors to pile into the dollar, reducing demand for the yellow metal.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.45% to 94.69.

Gold is sensitive to moves higher in both bond yields and the U.S. dollar. A stronger dollar makes gold more expensive for holders of foreign currency, while a rise in U.S. rates lifts the opportunity cost of holding gold as it pays no interest.

The stronger dollar also saw other metals retreat sharply as aluminum gave up gains to trade near session lows, while platinum futures fell to a two-week low.

Copper prices fell 0.56% to $2.75, while zinc prices rose 0.96% to 2,507.50.

Aluminium prices fell 1.25% to 2,033.00, while Nickel futures lost 0.868% to 13,545.00.

Silver futures fell 1.25% to $15.61 a troy ounce, while platinum futures fell 0.57% to $821.70.

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Nigeria stocks lower at close of trade; NSE 30 down 1.15%

Investing.com – Nigeria stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Food, Beverages&Tobacco and Banking sectors led shares lower.

At the close in Lagos, the NSE 30 declined 1.15% to hit a new 1-month low.

The best performers of the session on the NSE 30 were Wemabank (LAGOS:WEMABAN), which rose 7.94% or 0.050 points to trade at 0.660 at the close. Meanwhile, Dangsugar (LAGOS:DANGSUG) added 2.57% or 0.45 points to end at 17.85 and Union Bank LG (LAGOS:UBN) was up 0.88% or 0.05 points to 5.75 in late trade.

The worst performers of the session were Pz Cussons LG (LAGOS:PZ), which fell 9.94% or 1.70 points to trade at 15.50 at the close. Wapco (LAGOS:WAPCO) declined 8.00% or 3.00 points to end at 34.50 and Stanbicibtc Hl (LAGOS:IBTC) was down 7.67% or 3.95 points to 47.25.

Falling stocks outnumbered advancing ones on the Lagos by 66 to 24 and 14 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; falling 9.94% or 1.70 to 15.50.

Crude oil for September delivery was up 0.55% or 0.37 to $67.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.79% or 0.57 to hit $72.41 a barrel, while the August Gold Futures contract fell 0.97% or 12.00 to trade at $1227.70 a troy ounce.

EUR/NGN was up 0.23% to 358.500, while USD/NGN fell 0.14% to 361.000.

The US Dollar Index Futures was up 0.52% at 94.76.

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Morocco stocks lower at close of trade; Moroccan All Shares down 0.74%

Investing.com – Morocco stocks were lower after the close on Tuesday, as losses in the Holding Companies, Food Producers&Processors and Construction&Building Materials sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares fell 0.74% to hit a new 52-week low.

The best performers of the session on the Moroccan All Shares were S2M (CS:S2M), which rose 6.42% or 17.00 points to trade at 282.00 at the close. Meanwhile, Taslif (CS:TSF1) added 5.26% or 1.40 points to end at 28.00 and Med Paper (CS:PAP) was up 4.55% or 1.00 points to 23.00 in late trade.

The worst performers of the session were SMI (CS:SMI), which fell 5.99% or 154 points to trade at 2418 at the close. Disway SA (CS:DWY) declined 3.95% or 17.00 points to end at 413.00 and Delta Holding S.A (CS:DHO) was down 3.47% or 1.18 points to 32.80.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 21 to 14 and 4 ended unchanged.

Shares in SMI (CS:SMI) fell to 52-week lows; down 5.99% or 154 to 2418.

Crude oil for September delivery was up 0.22% or 0.15 to $67.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.57% or 0.41 to hit $72.25 a barrel, while the August Gold Futures contract fell 1.06% or 13.20 to trade at $1226.50 a troy ounce.

EUR/MAD was down 0.23% to 11.0460, while USD/MAD rose 0.27% to 9.4786.

The US Dollar Index Futures was up 0.53% at 94.77.

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Dollar Rallies as Powell Signals Rate Hikes to Continue

Investing.com – The dollar rose against its rivals Tuesday, as Federal Reserve Chairman Jay Powell gave lawmakers a positive assessment of the economy, and expects to continue raising interest rates gradually.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.52% to 94.76.

In his semi-annual testimony to Congress Tuesday, Powell said the "best way forward" is to continue raising rates, as the job market has strengthened and inflation has moved above the Fed's 2% target.

Powell largely echoed the Fed's recent comments from its June meeting, when the Fed raised interest rates, and hinted at two further rate hikes for this year. Powell could offer further clues on monetary policy when he testifies before the House Financial Services Committee Wednesday.

According to Investing.com's Fed Rate Monitor Tool, 85.6% of traders expect the Fed to hike rates in September, and 56.2% of traders expect the Fed to hike rates again in December.

Economic data showing U.S. industrial production rebounded in June, boosted by a sharp rebound in manufacturing, and gains in mining output, had a somewhat muted impact on the greenback.

Industrial production - a measure of output at factories, mines and utilities - rose to a seasonally-adjusted 0.6% in June from a revised 0.5% decline the prior month, the Federal Reserve said Tuesday. This was slightly above the 0.5% rise forecast by economists.

The dollar's move higher was also supported by a fall in both the pound and euro. Sterling came under pressure amid soft UK data and expectations that Prime Minister Theresa May's Brexit bill could face another challenge in Parliament.

GBP/USD fell 0.76% to $1.3135, while EUR/USD fell 0.47% to $1.1654.

USD/JPY rose 0.53% to Y112.88, while USD/CHF rose 0.31% to 0.9998 as demand for safe-haven currencies fell.

USD/CAD rose 0.59% to C$1.3213 as a rise in expectations for a Bank of Canada rate hike on the back of bullish factory sales data failed to lift the loonie.

The upbeat report reinforces the Bank of Canada's forecast for second-quarter GDP growth and "incrementally lends itself" toward another possible interest rate rise in September, Bank of Nova Scotia said Tuesday.

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Finland stocks higher at close of trade; OMX Helsinki 25 up 1.85%

Investing.com – Finland stocks were higher after the close on Tuesday, as gains in the Industrials, Basic Materials and Consumer Goods sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 added 1.85%.

The best performers of the session on the OMX Helsinki 25 were KONE Oyj (HE:KNEBV), which rose 7.89% or 3.51 points to trade at 47.98 at the close. Meanwhile, Valmt (HE:VALMT) added 4.92% or 0.83 points to end at 17.69 and Metso Oyj (HE:METSO) was up 3.02% or 0.86 points to 29.30 in late trade.

The worst performers of the session were Telia Company AB (HE:TELIA1), which fell 3.76% or 0.149 points to trade at 3.819 at the close. Elisa Oyj (HE:ELISA) declined 1.03% or 0.37 points to end at 35.72 and Nokia Oyj (HE:NOKIA) was down 0.68% or 0.034 points to 4.970.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 80 to 59 and 19 ended unchanged.

Shares in KONE Oyj (HE:KNEBV) rose to 5-year highs; gaining 7.89% or 3.51 to 47.98.

Brent oil for September delivery was up 0.49% or 0.35 to $72.19 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.01% or 0.01 to hit $67.06 a barrel, while the August Gold Futures contract fell 0.98% or 12.20 to trade at $1227.50 a troy ounce.

EUR/USD was down 0.44% to 1.1658, while EUR/GBP rose 0.27% to 0.8872.

The US Dollar Index Futures was up 0.49% at 94.73.

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Netherlands stocks higher at close of trade; AEX up 0.15%

Investing.com – Netherlands stocks were higher after the close on Tuesday, as gains in the Basic Materials, Consumer Services and Technology sectors led shares higher.

At the close in Amsterdam, the AEX gained 0.15%.

The best performers of the session on the AEX were ASR Nederland NV (AS:ASRNL), which rose 3.10% or 1.10 points to trade at 36.58 at the close. Meanwhile, ArcelorMittal SA (AS:MT) added 2.45% or 0.615 points to end at 25.730 and Wolters Kluwer (AS:WLSNc) was up 1.10% or 0.56 points to 51.56 in late trade.

The worst performers of the session were Koninklijke KPN NV (AS:KPN), which fell 1.99% or 0.049 points to trade at 2.411 at the close. Altice NV (AS:ATCA) declined 1.62% or 0.05 points to end at 3.09 and ING Groep NV (AS:INGA) was down 1.17% or 0.146 points to 12.354.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 69 to 53 and 12 ended unchanged.

Shares in Wolters Kluwer (AS:WLSNc) rose to all time highs; up 1.10% or 0.56 to 51.56.

The AEX Volatility, which measures the implied volatility of AEX options, was down 2.41% to 11.47.

Crude oil for September delivery was down 0.06% or 0.04 to $67.03 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.47% or 0.34 to hit $72.18 a barrel, while the August Gold Futures contract fell 0.98% or 12.10 to trade at $1227.60 a troy ounce.

EUR/USD was down 0.44% to 1.1658, while EUR/GBP rose 0.27% to 0.8872.

The US Dollar Index Futures was up 0.51% at 94.75.

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France stocks higher at close of trade; CAC 40 up 0.24%

Investing.com – France stocks were higher after the close on Tuesday, as gains in the Basic Materials, Consumer Goods and Industrials sectors led shares higher.

At the close in Paris, the CAC 40 rose 0.24%, while the SBF 120 index added 0.16%.

The best performers of the session on the CAC 40 were ArcelorMittal SA (AS:MT), which rose 2.45% or 0.615 points to trade at 25.730 at the close. Meanwhile, Solvay SA (BR:SOLB) added 1.78% or 1.90 points to end at 108.90 and Kering SA (PA:PRTP) was up 1.45% or 7.10 points to 497.30 in late trade.

The worst performers of the session were Orange SA (PA:ORAN), which fell 2.54% or 0.37 points to trade at 14.20 at the close. Publicis Groupe SA (PA:PUBP) declined 2.29% or 1.38 points to end at 58.76 and Bouygues SA (PA:BOUY) was down 1.51% or 0.57 points to 37.07.

The top performers on the SBF 120 were Eramet (PA:ERMT) which rose 3.61% to 111.90, Casino Guichard (PA:CASP) which was up 3.16% to settle at 34.97 and Arkema (PA:AKE) which gained 2.65% to close at 104.55.

The worst performers were Rubis SCA (PA:RUBF) which was down 8.19% to 47.74 in late trade, SES (PA:SESFd) which lost 3.33% to settle at 16.43 and Iliad (PA:ILD) which was down 3.03% to 134.45 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 291 to 260 and 106 ended unchanged.

Shares in Rubis SCA (PA:RUBF) fell to 52-week lows; falling 8.19% or 4.26 to 47.74.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 3.40% to 12.20.

Gold Futures for August delivery was down 0.98% or 12.10 to $1227.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.07% or 0.05 to hit $67.02 a barrel, while the September Brent oil contract rose 0.43% or 0.31 to trade at $72.15 a barrel.

EUR/USD was down 0.45% to 1.1657, while EUR/GBP rose 0.27% to 0.8872.

The US Dollar Index Futures was up 0.51% at 94.75.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 0.34%

Investing.com – U.K. stocks were higher after the close on Tuesday, as gains in the Forestry&Paper, Industrial Metals&Mining and Beverage sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 rose 0.34%.

The best performers of the session on the Investing.com United Kingdom 100 were The Berkeley Group Holdings plc (LON:BKGH), which rose 2.53% or 91.00 points to trade at 3685.00 at the close. Meanwhile, Antofagasta PLC (LON:ANTO) added 2.22% or 20.80 points to end at 958.80 and Mondi PLC (LON:MNDI) was up 2.16% or 44.00 points to 2079.00 in late trade.

The worst performers of the session were Paddy Power Betfair PLC (LON:PPB), which fell 3.23% or 275.00 points to trade at 8225.00 at the close. WPP PLC (LON:WPP) declined 2.96% or 36.00 points to end at 1180.00 and Provident Financial PLC (LON:PFG) was down 2.78% or 18.00 points to 628.80.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1031 to 900 and 328 ended unchanged.

Gold Futures for August delivery was down 0.98% or 12.20 to $1227.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.39% or 0.26 to hit $66.81 a barrel, while the September Brent oil contract rose 0.15% or 0.11 to trade at $71.95 a barrel.

GBP/USD was down 0.63% to 1.3152, while EUR/GBP rose 0.23% to 0.8868.

The US Dollar Index Futures was up 0.46% at 94.70.

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Sweden stocks higher at close of trade; OMX Stockholm 30 up 0.25%

Investing.com – Sweden stocks were higher after the close on Tuesday, as gains in the Financials, Basic Materials and Consumer Services sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 added 0.25%.

The best performers of the session on the OMX Stockholm 30 were Getinge AB ser. B (ST:GETIb), which rose 10.47% or 9.1 points to trade at 96.0 at the close. Meanwhile, Skandinaviska Enskilda Banken AB A (ST:SEBa) added 4.27% or 3.64 points to end at 88.92 and Alfa Laval AB (ST:ALFA) was up 4.09% or 9.4 points to 239.3 in late trade.

The worst performers of the session were Telia Company AB (ST:TELIA), which fell 4.05% or 1.66 points to trade at 39.28 at the close. Tele2 AB (ST:TEL2b) declined 1.95% or 2.00 points to end at 100.55 and Essity AB B (ST:ESSITYb) was down 1.73% or 3.80 points to 215.50.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 308 to 296 and 67 ended unchanged.

Shares in Alfa Laval AB (ST:ALFA) rose to all time highs; gaining 4.09% or 9.4 to 239.3.

Crude oil for September delivery was down 0.33% or 0.22 to $66.85 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.19% or 0.14 to hit $71.98 a barrel, while the August Gold Futures contract fell 0.91% or 11.30 to trade at $1228.40 a troy ounce.

EUR/SEK was down 0.34% to 10.2990, while USD/SEK rose 0.07% to 8.8301.

The US Dollar Index Futures was up 0.43% at 94.68.

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Norway stocks higher at close of trade; Oslo OBX up 0.19%

Investing.com – Norway stocks were higher after the close on Tuesday, as gains in the Media, Materials and Auto&components sectors led shares higher.

At the close in Oslo, the Oslo OBX added 0.19%.

The best performers of the session on the Oslo OBX were Schibsted ASA A (OL:SBSTA), which rose 12.59% or 33.1 points to trade at 296.0 at the close. Meanwhile, Yara International ASA (OL:YAR) added 4.52% or 14.4 points to end at 340.0 and DNO International ASA (OL:DNO) was up 4.40% or 0.68 points to 16.02 in late trade.

The worst performers of the session were Aker Solutions OL (OL:AKSOL), which fell 4.45% or 2.46 points to trade at 52.84 at the close. Telenor ASA (OL:TEL) declined 3.95% or 6.5 points to end at 158.0 and Norwegian Air Shuttle ASA (OL:NWC) was down 3.18% or 7.80 points to 237.50.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 100 to 73 and 25 ended unchanged.

Shares in Schibsted ASA A (OL:SBSTA) rose to 52-week highs; rising 12.59% or 33.1 to 296.0.

Crude oil for September delivery was down 0.34% or 0.23 to $66.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.19% or 0.14 to hit $71.98 a barrel, while the August Gold Futures contract fell 0.90% or 11.20 to trade at $1228.50 a troy ounce.

EUR/NOK was up 0.04% to 9.4920, while USD/NOK rose 0.45% to 8.1372.

The US Dollar Index Futures was up 0.42% at 94.67.

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