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Investing.com -- A flurry of news from the banking sector stands out amid a generally weak start to Thursday in Europe’s stock markets.

Germany’s two biggest private-sector banks, Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG), have called off their merger talks, under pressure from shareholders, regulators and unions.

The mooted merger was never the preferred option of either bank, as both are more preoccupied with trying to turn round chronically unprofitable operations. The talks only came about largely because of political pressure from Germany’s finance ministry to ensure the survival of a national champion.

Such logic convinced neither regulators, who feared the creation of a new ‘too-big-to-fail’ bank that would hold German policy-makers hostage, nor the labor unions of both institutions, who feared up to 30,000 job cuts.

Deutsche was up 3.2% on relief at having escaped the nightmare of such a politically charged merger, although the shares’ valuation at only 0.24 times their book value shows that it still has huge challenges ahead. Commerzbank’s stock is down 2.0%, reflecting the loss of a potential buyer.

Even so, it’s not impossible that a bidding war of sorts could still emerge for the bank: Italy’s Unicredit (MI:CRDI) SpA and Dutch-based ING (AS:INGA) have both indicated interest, according to recent reports, and BNP Paribas (PA:BNPP) had also looked at Commerzbank a couple of years back. None of those shares is reacting with any enthusiasm to the notion that they may now be more likely to get their hands on it.

Elsewhere, Barclays (LON:BARC) was down 2% despite a generally decent set of results notable for its investment bank division again faring better than many U.S. rivals in the turmoil of the first quarter. That should bolster the position of CEO Jes Staley, who will face a motion at next week’s shareholder meeting to admit activist investor Edward Bramson on to the board. Bramson is pushing for the investment bank to be scaled back drastically.

Meanwhile, Royal Bank of Scotland's (LON:RBS) shareholder meeting was preceded today by news that CEO Ross McEwan is to step down. He’ll still serve for the next year. Under McEwan, RBS has returned to profitability and settled most of the governance-related scandals that plagued it for the last decade.

None of this is stopping a wave of profit-taking in markets across the continent, however, The benchmark Euro Stoxx 600 was down 1.10 points, or 0.3% at 389.78, while the FTSE 100 was down 0.5% and the German DAX down 0.3%, depressed by more gloomy statements from central banks in Canada and Japan, and by weak economic data out of South Korea.

Investing.com - XRP fell bellow the $0.29759 level on Thursday. XRP was trading at 0.29759 by 03:45 (07:45 GMT) on the Investing.com Index, down 6.46% on the day. It was the largest one-day percentage loss since April 11.

The move downwards pushed XRP's market cap down to $12.57304B, or 7.13% of the total cryptocurrency market cap. At its highest, XRP's market cap was $79.53400B.

XRP had traded in a range of $0.29619 to $0.30130 in the previous twenty-four hours.

Over the past seven days, XRP has seen a drop in value, as it lost 11.78%. The volume of XRP traded in the twenty-four hours to time of writing was $1.47768B or 2.81% of the total volume of all cryptocurrencies. It has traded in a range of $0.2923 to $0.3354 in the past 7 days.

At its current price, XRP is still down 90.95% from its all-time high of $3.29 set on January 4, 2018.

Elsewhere in cryptocurrency trading

Bitcoin was last at $5,402.3 on the Investing.com Index, down 3.02% on the day.

Ethereum was trading at $162.86 on the Investing.com Index, a loss of 3.67%.

Bitcoin's market cap was last at $96.21901B or 54.57% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.31176B or 9.82% of the total cryptocurrency market value.

Investing.com -- The dollar has come off Wednesday’s highs in early trade in Europe on Thursday, but is still well bid on the back of news flow suggesting the U.S. economy remains a pillar of relative strength.

The euro fell to its lowest level in nearly two years against the dollar late Wednesday, at $1.1141, after disappointing business surveys from Germany and France earlier in the day. It has barely recovered since. By 03:00 AM ET (0700 GMT), it was at $1.1160. The British pound also continues to languish at around $1.2911.

The dollar index, which measures the greenback against a basket of six major currencies, surged to its highest since May 2017 overnight after the Bank of Japan joined its counterpart in Canada in talking down the economic outlook.

The BoJ said it would hold off from any interest rate increases for at least another year, sending the dollar briefly to a new 2019 high of 112.38 yen, although it has since retreated to 111.78, failing yet again to make a sustained break through the 112 level.

The dollar also hit a three-month high of $1.3509 against the Canadian dollar Wednesday, when the Bank of Canada cut its growth forecast for this year to 1.2% from 1.7%, and dropped language about the possible need for future interest rate hikes from its policy statement.

Meanwhile, the drumbeat of weak economic news from elsewhere across the globe continues. The South Korean won fell to its lowest in over two years against the dollar after data showed the economy contracted by 0.3% in the first quarter, while the Indian rupee has fallen to just above 70 against the dollar on fears that the sharp rise in oil prices this week will hit its current account. India is one of the world’s largest oil importers.

The dollar’s rally may still be tempered by disappointments from the ongoing corporate earnings season, although results so far have generally outperformed expectations. That leaves Friday’s U.S. GDP report as the next likely big trigger for the greenback.

Investing.com - Oil prices were mixed on Thursday in Asia after a surprisingly big jump in American crude inventories.

U.S. Crude Oil WTI Futures traded 0.1% lower to $65.81 by 1:01 AM ET (05: 01 GMT). International Brent Oil Futures rose 0.1% to $74.61.

Crude stockpiles in the country rose about five times more than expected last week, the U.S. Energy Information Administration reported.

Inventories rose by 5.48 million barrels in the week ended April 19, compared with forecasts for a build of 1.26 million barrels. In the previous week to April 12, crude stockpiles fell by 1.4 million barrels.

Meanwhile, imports grew the most since mid-March amid new momentum in the market's four-month long rally.

Oil prices are on track for possible gains of 3% this week, boosted by reports that the U.S. would scrap all sanction waivers for importers of Iranian oil after May 2, heightening concerns about supply in the market.

On Wednesday, Brian Hook, U.S. Special Representative for Iran and Senior Policy Advisor to the Secretary of State, said the sanctions have slashed Iran’s government more than $10 billion in oil revenue.

"Before sanctions...Iran generated as much as $50 billion annually in oil revenue. We estimate that our sanctions have already denied the regime more than $10 billion since May (2018)," Hook said.

Saudi Arabian Energy Minister Khalid Al-Falih said there is no need for immediate action, while the International Energy Agency said “comfortable” levels of spare capacity remain.

Investing.com - Major cryptocurrencies traded in the red on Thursday morning in Asia, with Bitcoin losing steam after hitting a one-month high the day before.

Bitcoin dropped 2.25% to $5,409.4 by 12:46 PM ET (04:46 GMT), after rising to a one-month high of $5,586.3 mid-week.

Other coins also went downward. Ethereum shed 3.38% to $163.4, XRP lost 6.88% to $0.29792 and Litecoin slid 0.60% to $72.451.

The drop in crypto prices pushed the market cap down to $176.7 billion.

Sudden on-site inspections at the crypto exchanges in Japan two days ago shocked the crypto community.

Japan’s Financial Services Agency reportedly inspected crypto exchange Huobi Japan and Fisco Digital Asset Group without notice. Reuters reported that the regulators aimed to find out if the crypto exchanges have been doing enough to protect their customers and check for legal compliance.

Reuters also said that the regulators believe that Huobi and Fisco have failed to protect their customers adequately and comply with the anti-money laundering requirements. This could lead to a suspension of their operating licenses.

“The FSA conducted detailed checks with a view to administrative setup, considering that there are insufficient points in the management systems of the two companies and their efforts to protect customers,” Reuters reported.

Both Huobi and Fisco have not made a statement regarding the reported event.

In other news, South Korean tech giant Samsung (KS:005930) has invested $2.9 million into crypto hardware startup Ledger. Ledger manufactures hardware cryptocurrency wallets.

Samsung is reportedly tapping into the crypto and blockchain space. Earlier this year, it unveiled that its upcoming smartphone the Galaxy S10 series will support cryptocurrencies with crypto wallet functionality. It is also said to be developing its own private Ethereum-based blockchain.

Investing.com - The Japanese yen edged up on Thursday in Asia following the release of the Bank of Japan (BOJ)’s interest rate decision.

The BOJ said it would keep interest rates extremely low until at least 2020. The key monetary stimulus settings were also left unchanged unchanged.

The central bank noted that it mostly likely will not hit its 2% inflation target in the next three years.

The USD/JPY pair last traded at 111.90 by 11:30 PM ET (03:30 GMT), down 0.2%.

Meanwhile, the USD/CNY pair was up 0.1% to 6.7259.

The People’s Bank of China is not planning to tighten or relax monetary policy. Liu Guoqiang, vice governor of the central bank, said on Thursday at a briefing in Beijing, adding that the current policies are “appropriate.”

The USD/KRW pair was up 0.3% to 1,157.81 following the release of data that showed South Korea’s GDP shrank the most in a decade in the first quarter of 2019.

A South Korean Deputy Finance Minister reportedly said on Thursday that the government would intervene if there are any abnormal moves, including intensified volatility, in the foreign exchange markets.

Meanwhile, the euro was flat against the USD. Overnight, data showed German business sentiment unexpectedly fell in April.

The GBP/USD pair was also largely unchanged after Conservative lawmakers decided Wednesday against tweaking leadership rules that would have allowed a fresh attempt to oust U.K. Prime Minister Theresa May.

The USD/CAD pair rose 0.04% to 1.3492 after the Bank of Canada kept rates at 1.75%, citing a decline in global growth activity due to trade concerns.

“Ongoing uncertainty related to trade conflicts has undermined business sentiment and activity, contributing to a synchronous slowdown across many countries,” the bank said in a statement.

Investing.com - Asian markets were mixed in morning trade on Thursday. Chinese stocks continued to underperform while South Korea’s KOSPI slipped following the release of weak GDP data.

China’s Shanghai Composite and the SZSE Component were down 0.5% and 0.6% respectively by 10:45PM ET (02:45 GMT). Hong Kong’s Hang Seng Index traded near flat.

Chinese stocks were under pressure this week as traders questioned the likelihood of further stimulus in China after a politburo statement issued on Monday said regulators are getting increasingly concerned of asset bubbles.

Trade headlines are in focus as China and the U.S. prepare for another round of trade talks next week.

The discussions “will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases and enforcement,” according to a White House statement.

South Korea’s KOSPI slipped 0.1% after data showed the country’s GDP shrank the most in a decade in the first quarter of 2019.

Exports, which account for about half of Korea’s GDP, were weaker than expected amid weak demand from China, the nation’s biggest market.

Chipmaker SK Hynix Inc (KS:000660) surged 2% after the company reported a 69% drop in first-quarter operating profit, which was in line with expectations, but added that it expects demand for memory chips to recover later this year.

Meanwhile, LG Electronics Inc (KS:066570) also rose as much as 2.5% following the company’s announcement that it would move manufacturing to Vietnam, a lower cost location. The move could boost annual production capacity by 83%, the company said.

Japan’s Nikkei 225 rose 0.4%. The Bank of Japan is set to release its monetary policy statement later in the day. Markets widely expect the central to keep interest rates unchanged.

Prime Minister Shinzo Abe will meet leaders of the European Union today and U.S. President Donald Trump later this week.

Down under, Australia’s markets are closed due to a holiday.

Investing.com – U.S. stocks were lower after the close on Wednesday, as losses in the Telecoms, Oil&Gas and Basic Materials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average declined 0.22%, while the S&P 500 index declined 0.22%, and the NASDAQ Composite index fell 0.23%.

The best performers of the session on the Dow Jones Industrial Average were Walt Disney Company (NYSE:DIS), which rose 1.30% or 1.74 points to trade at 135.10 at the close. Meanwhile, McDonald’s Corporation (NYSE:MCD) added 1.21% or 2.37 points to end at 197.63 and Nike Inc (NYSE:NKE) was up 1.10% or 0.96 points to 88.39 in late trade.

The worst performers of the session were Chevron Corp (NYSE:CVX), which fell 3.07% or 3.74 points to trade at 118.28 at the close. Caterpillar Inc (NYSE:CAT) declined 3.03% or 4.30 points to end at 137.73 and Dow Inc (NYSE:DOW) was down 2.88% or 1.66 points to 55.98.

The top performers on the S&P 500 were Anadarko Petroleum Corp (NYSE:APC) which rose 11.58% to 71.40, TE Connectivity Ltd (NYSE:TEL) which was up 6.70% to settle at 95.83 and Pacific Gas&Electric Co (NYSE:PCG) which gained 6.50% to close at 22.93.

The worst performers were Robert Half International Inc (NYSE:RHI) which was down 8.42% to 63.00 in late trade, National Oilwell Varco Inc (NYSE:NOV) which lost 5.05% to settle at 26.49 and Avery Dennison Corp (NYSE:AVY) which was down 4.48% to 110.80 at the close.

The top performers on the NASDAQ Composite were Global Eagle Entertainment Inc (NASDAQ:ENT) which rose 47.57% to 0.769, Entegra Financial Corp (NASDAQ:ENFC) which was up 24.74% to settle at 29.50 and SSLJ.com Ltd (NASDAQ:SSLJ) which gained 23.46% to close at 4.0000.

The worst performers were Kona Grill Inc (NASDAQ:KONA) which was down 38.12% to 0.14 in late trade, Fusion Telecommunications International Inc (NASDAQ:FSNN) which lost 34.25% to settle at 0.132 and iRobot Corporation (NASDAQ:IRBT) which was down 23.09% to 100.42 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1493 to 1469 and 132 ended unchanged; on the Nasdaq Stock Exchange, 1383 fell and 1248 advanced, while 101 ended unchanged.

Shares in Walt Disney Company (NYSE:DIS) rose to all time highs; up 1.30% or 1.74 to 135.10. Shares in McDonald’s Corporation (NYSE:MCD) rose to all time highs; rising 1.21% or 2.37 to 197.63. Shares in Kona Grill Inc (NASDAQ:KONA) fell to all time lows; down 38.12% or 0.09 to 0.14. Shares in Fusion Telecommunications International Inc (NASDAQ:FSNN) fell to all time lows; falling 34.25% or 0.069 to 0.132.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 7.00% to 13.14.

Gold Futures for June delivery was up 0.37% or 4.70 to $1277.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June fell 0.78% or 0.52 to hit $65.78 a barrel, while the June Brent oil contract rose 0.03% or 0.02 to trade at $74.56 a barrel.

EUR/USD was up 0.03% to 1.1155, while USD/JPY fell 0.05% to 112.11.

The US Dollar Index Futures was up 0.48% at 97.792.

Investing.com – Shares of Facebook rallied in after-hours trade on Wednesday as first-quarter results topped expectations on both the top and bottom lines.

Facebook (NASDAQ:FB) rose more than 6% postmarket after closing down 0.85% to $182.58 in regular trading.

The social media giant reported earnings per share, excluding items, of $1.89 on $15.08 billion in revenue for the first quarter. Earnings were up That beat expectations from Investing.com for earnings of $1.61 a share on $14.97 billion in revenue.

Monthly active users (MAUs), one of the key metrics that analysts use to gauge the health of the company, increased 8% to 2.38 billion in the first quarter, above estimates for 2.36 billion. Daily active users (DAUs) showed robust growth for the quarter, rising 8% to 1.56 billion.

"(W)e estimate that more than 2.1 billion people now use Facebook, Instagram, WhatsApp, or Messenger (our "Family" of services) every day on average, and around 2.7 billion people use at least one of our Family of services each month," Facebook said in a statement.

Mobile advertising revenue represented about 93% of advertising revenue for the 2019 first quarter, up from approximately 91% of advertising revenue in the first quarter of 2018.

The social media company saw margins more than halve to 22% for the quarter from 46% a year earlier as costs surged 80% to $11.8 billion. Costs included $3 billion set aside for legal expenses due to the FTC inquiry. That reduced earnings under GAAP rules to 85 cents a share.

"In the first quarter of 2019, we reasonably estimated a probable loss and recorded an accrual of $3.0 billion in connection with the inquiry of the FTC into our platform and user data practices ... We estimate that the range of loss in this matter is $3.0 billion to $5.0 billion. The matter remains unresolved, and there can be no assurance as to the timing or the terms of any final outcome," Facebook added.

Facebook's better-than-expected quarterly results came as CEO Mark Zuckerberg reiterated plans to ramp up spending to beef up security on the platform in the wake of numerous security breaches.

"We had a good quarter and our business and community continue to grow," Zuckerberg said. "We are focused on building out our privacy-focused vision for the future of social networking, and working collaboratively to address important issues around the internet."

Investing.com - O'Reilly (NASDAQ:ORLY) reported first quarter earnings that matched analysts' expectations on Wednesday and revenue that fell short of forecasts.

The firm reported earnings per share of $4.05 on revenue of $2.41B. Analysts polled by Investing.com expected EPS of $4.05 on revenue of $2.44B. That compared to EPS of $3.61 on revenue of $2.28B in the same period a year earlier. The company had reported EPS of $3.72 on revenue of $2.31B in the previous quarter.

O'Reilly shares lost 7.10% to trade at $368.55 in after-hours trade following the report.

O'Reilly follows other major Consumer Cyclical sector earnings this month

On Wednesday, Stanley Black Decker reported first quarter EPS of $1.42 on revenue of $3.33B, compared to forecasts of EPS of $1.11 on revenue of $3.3B.

WW Grainger earnings Beat analysts' expectations on Monday, with first quarter EPS of $4.51 on revenue of $2.8B. Investing.com analysts expected EPS of $4.45 on revenue of $2.88B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Investing.com - Citrix Systems (NASDAQ:CTXS) reported first quarter earnings that Beat analysts' expectations on Wednesday and revenue that topped forecasts.

The firm reported earnings per share of $1.27 on revenue of $719.1M. Analysts polled by Investing.com expected EPS of $1.19 on revenue of $707.77M. That compared to EPS of $1.29 on revenue of $697.19M in the same period a year earlier. The company had reported EPS of $1.67 on revenue of $801.87M in the previous quarter.

Citrix Systems shares lost 4.44% to trade at $96.00 in after-hours trade following the report.

Citrix Systems follows other major Technology sector earnings this month

On Wednesday, Microsoft reported third quarter EPS of $1.14 on revenue of $30.57B, compared to forecasts of EPS of $1 on revenue of $29.89B.

Facebook earnings Beat analysts' expectations on Wednesday, with first quarter EPS of $1.89 on revenue of $15.08B. Investing.com analysts expected EPS of $1.61 on revenue of $14.97B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Investing.com - Facebook (NASDAQ:FB) reported first quarter earnings that Beat analysts' expectations on Wednesday and revenue that topped forecasts.

The firm reported earnings per share of $1.89 on revenue of $15.08B. Analysts polled by Investing.com expected EPS of $1.61 on revenue of $14.97B. That compared to EPS of $1.69 on revenue of $11.97B in the same period a year earlier. The company had reported EPS of $2.38 on revenue of $16.91B in the previous quarter.

Facebook shares gained 3.26% to trade at $188.74 in after-hours trade following the report.

Facebook follows other major Technology sector earnings this month

On April 17, Taiwan Semiconductor reported first quarter EPS of $0.38 on revenue of $7.09B, compared to forecasts of EPS of $0.4 on revenue of $7.14B.

SAP ADR earnings Beat analysts' expectations on Wednesday, with first quarter EPS of $1.01 on revenue of $6.86B. Investing.com analysts expected EPS of $0.95 on revenue of $6.74B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Investing.com - Chevron (NYSE:CVX) fell by 3.02% to trade at $118.32 by 15:10 (19:10 GMT) on Wednesday on the NYSE exchange.

The volume of Chevron shares traded since the start of the session was 17.80M. Chevron has traded in a range of $118.33 to $121.33 on the day.

The stock has traded at $122.5400 at its highest and $118.3300 at its lowest during the past seven days.

Investing.com - The U.S. dollar inched higher against a basket of major currencies Wednesday on a slump in the euro. But gains in the greenback were limited somewhat as the Canadian dollar moved off lows after the Bank of Canada governor left the door open to future rate hikes

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.36% to 97.675.

USD/CAD rose 0.39% to C$1.3474, but eased from its highs of C$1.3521, after Bank of Canada Governor Stephen Poloz suggested that a rate hike was more likely rather than a cut if growth forecasts of Canadian GDP bouncing back to 2.2% by the end of 2020 are correct.

The less dovish remarks comes after the Bank of Canada left its target rate unchanged at 1.75% and dropped its bias for future rate hikes, citing concerns about economic growth.

“Governing Council judges that an accommodative policy interest rate continues to be warranted,” the new policy statement says. “We will continue to evaluate the appropriate degree of monetary policy accommodation as new data arrive.”

The dollar was also supported by a drop in the euro as German business sentiment unexpectedly fell in April, raising fears that a significant rebound in euro area economic growth in the second half of the year is unlikely.

EUR/USD fell 0.33% to $1.1188.

GBP/USD fell 0.06% to $1.2929 after Conservative lawmakers decided Wednesday against tweaking leadership rules that would have allowed a fresh attempt to oust U.K. Prime Minister Theresa May.

The move comes as lawmakers within the prime minister's party call on her to step down as Brexit talks with opposition leader Jeremy Corbyn have reportedly hit a snag.

USD/JPY rose 0.08% ahead of the Bank of Japan's monetary policy announcement due later today.

The central bank is expected to stand pat on monetary policy, but its inflation and GDP projections will likely garner attention. Reuters reported last week that CPI is not expected to approach the Bank's 2.0% target by the end of the forecast period.

Investing.com – Netherlands stocks were lower after the close on Wednesday, as losses in the Basic Materials, Financials and Telecoms sectors led shares lower.

At the close in Amsterdam, the AEX declined 0.39%.

The best performers of the session on the AEX were Randstad NV (AS:RAND), which rose 3.92% or 1.94 points to trade at 51.42 at the close. Meanwhile, WFD Unibail Rodamco NV (AS:URW) added 3.08% or 4.65 points to end at 155.50 and Adyen NV (AS:ADYEN) was up 1.67% or 11.80 points to 718.80 in late trade.

The worst performers of the session were Akzo Nobel NV (AS:AKZO), which fell 3.69% or 2.94 points to trade at 76.73 at the close. Koninklijke Vopak NV (AS:VOPA) declined 2.76% or 1.14 points to end at 40.09 and ING Groep NV (AS:INGA) was down 1.84% or 0.220 points to 11.734.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 74 to 55 and 15 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was up 3.48% to 11.76.

Crude oil for June delivery was down 0.53% or 0.35 to $65.95 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 0.15% or 0.11 to hit $74.62 a barrel, while the June Gold Futures contract rose 0.45% or 5.75 to trade at $1278.95 a troy ounce.

EUR/USD was down 0.56% to 1.1162, while EUR/GBP fell 0.43% to 0.8638.

The US Dollar Index Futures was up 0.37% at 97.683.

Investing.com - Stellar fell bellow the $0.09980 level on Wednesday. Stellar was trading at 0.09980 by 14:08 (18:08 GMT) on the Investing.com Index, down 11.51% on the day. It was the largest one-day percentage loss since February 24.

The move downwards pushed Stellar's market cap down to $1.97878B, or 1.13% of the total cryptocurrency market cap. At its highest, Stellar's market cap was $12.12000B.

Stellar had traded in a range of $0.09980 to $0.10978 in the previous twenty-four hours.

Over the past seven days, Stellar has seen a drop in value, as it lost 12.16%. The volume of Stellar traded in the twenty-four hours to time of writing was $294.91013M or 0.52% of the total volume of all cryptocurrencies. It has traded in a range of $0.0998 to $0.1182 in the past 7 days.

At its current price, Stellar is still down 89.15% from its all-time high of $0.92 set on January 3, 2018.

Elsewhere in cryptocurrency trading

Bitcoin was last at $5,387.1 on the Investing.com Index, down 3.26% on the day.

Ethereum was trading at $161.25 on the Investing.com Index, a loss of 7.56%.

Bitcoin's market cap was last at $96.43822B or 54.94% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.24118B or 9.82% of the total cryptocurrency market value.

Investing.com - Anadarko Petroleum surged Wednesday after Occidental Petroleum topped Chevron 's takeover bid for the company, setting the stage for a bidding war in the Permian Basin.

Occidental proposed acquiring Anadarko for $76 per share -- $38 in cash and the rest in stock. The offer values the exploration-and-production company at $57 billion including debt. That's above Chevron's $65-per-share agreement to acquire the company.

Anadarko (NYSE:APC) rallied more than 11%, Occidental (NYSE:OXY) fell 2% and Chevron (NYSE:CVX) fell more than 2%.

Occidental's efforts to acquire Anadarko have been rebuffed several times. The latest offer suggests that Occidental it is prepared to engage in bidding war with Chevron to land Anadarko.

In March, Occidental laid out three acquisition proposals for Anadarko, in which it made the case that its offer represented both superior strategic and financial value.

"Occidental believes its proposal is superior both financially and strategically for Anadarko’s shareholders, creating a global energy leader with the scale and geographic diversification to drive growth and deliver compelling value and returns to the shareholders of both companies," the company said in a statement Wednesday.

The tie-up would create a production powerhouse and deliver $1.5 billion of cost cuts, improving free cash flow by $3.5 billion a year by 2021, according to Occidental, which is $1.5 billion more than the value Chevron believes it can extract from the deal.

"Anadarko has great assets," Occidental CEO Vicki Hollub said in a interview on CNBC Wednesday. "We are the right acquirer ... because we can get the most out of the shale."

Attention now turns to Chevron as many anticipate that the oil major may up its bid for Anadarko amid plans to enhance its upstream portfolio and strengthen its positions in large shale, deepwater and natural-gas basins.

Investing.com – Russia stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Telecoms and Mining sectors led shares lower.

At the close in Moscow, the MOEX Russia lost 0.33%.

The best performers of the session on the MOEX Russia were NPK OVK PAO (MCX:UWGN), which rose 2.78% or 12.0 points to trade at 444.0 at the close. Meanwhile, NMTP (MCX:NMTP) added 1.33% or 0.0950 points to end at 7.2600 and VTB (MCX:VTBR) was up 1.25% or 0.0004 points to 0.0358 in late trade.

The worst performers of the session were PIK (MCX:PIKK), which fell 1.48% or 5.50 points to trade at 365.50 at the close. Tatneft OAO Pref (MCX:TATN_p) declined 1.32% or 7.70 points to end at 574.10 and Unipro (MCX:UPRO) was down 1.27% or 0.0340 points to 2.6390.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 132 to 93 and 18 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 0.97% to 20.350.

Gold Futures for June delivery was up 0.37% or 4.65 to $1277.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in June fell 0.63% or 0.42 to hit $65.88 a barrel, while the June Brent oil contract fell 0.05% or 0.04 to trade at $74.47 a barrel.

USD/RUB was up 1.16% to 64.4266, while EUR/RUB rose 0.51% to 71.8650.

The US Dollar Index Futures was up 0.40% at 97.705.

Investing.com - Cardano fell bellow the $0.069991 level on Wednesday. Cardano was trading at 0.069991 by 12:42 (16:42 GMT) on the Investing.com Index, down 8.97% on the day. It was the largest one-day percentage loss since February 24.

The move downwards pushed Cardano's market cap down to $1.85734B, or 1.05% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.

Cardano had traded in a range of $0.069991 to $0.075180 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a drop in value, as it lost 13.9%. The volume of Cardano traded in the twenty-four hours to time of writing was $88.83651M or 0.16% of the total volume of all cryptocurrencies. It has traded in a range of $0.0700 to $0.0834 in the past 7 days.

At its current price, Cardano is still down 94.82% from its all-time high of $1.35 set on January 4, 2018.

Elsewhere in cryptocurrency trading

Bitcoin was last at $5,385.3 on the Investing.com Index, down 2.96% on the day.

Ethereum was trading at $161.18 on the Investing.com Index, a loss of 7.59%.

Bitcoin's market cap was last at $96.61974B or 54.78% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.31733B or 9.82% of the total cryptocurrency market value.

Investing.com – Denmark stocks were lower after the close on Wednesday, as losses in the Consumer Services, Chemicals and Financials sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.09%.

The best performers of the session on the OMX Copenhagen 20 were Pandora A/S (CO:PNDORA), which rose 1.53% or 4.2 points to trade at 279.0 at the close. Meanwhile, Vestas Wind Systems A/S (CO:VWS) added 0.99% or 6.0 points to end at 610.8 and GN Store Nord (CO:GN) was up 0.78% or 2.6 points to 336.2 in late trade.

The worst performers of the session were Novozymes A/S B (CO:NZYMb), which fell 2.49% or 7.9 points to trade at 309.0 at the close. Jyske Bank A/S (CO:JYSK) declined 1.09% or 3.0 points to end at 272.3 and Tryg A/S (CO:TRYG) was down 0.98% or 2.0 points to 201.2.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 66 to 64 and 19 ended unchanged.

Shares in Vestas Wind Systems A/S (CO:VWS) rose to 52-week highs; up 0.99% or 6.0 to 610.8.

Crude oil for June delivery was down 0.78% or 0.52 to $65.78 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.16% or 0.12 to hit $74.39 a barrel, while the June Gold Futures contract rose 0.38% or 4.85 to trade at $1278.05 a troy ounce.

USD/DKK was up 0.56% to 6.6869, while EUR/DKK rose 0.02% to 7.4667.

The US Dollar Index Futures was up 0.33% at 97.640.

Investing.com – Israel stocks were higher after the close on Wednesday, as gains in the Banking, Financials and Technology sectors led shares higher.

At the close in Tel Aviv, the TA 35 gained 1.17% to hit a new 3-months high.

The best performers of the session on the TA 35 were Phoenix Holdings Ltd (TA:PHOE1), which rose 3.24% or 66 points to trade at 2102 at the close. Meanwhile, OPKO Health Inc (TA:OPK) added 3.15% or 26 points to end at 866 and Israel Discount Bank Ltd (TA:DSCT) was up 2.77% or 37.0 points to 1371.0 in late trade.

The worst performers of the session were Bezeq Israeli Telecommunication Corp Ltd (TA:BEZQ), which fell 3.23% or 8.6 points to trade at 257.4 at the close. Delek Group (TA:DLEKG) declined 1.04% or 720 points to end at 68680 and Airport City Ltd (TA:ARPT) was down 0.23% or 14 points to 6076.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 218 to 147 and 47 ended unchanged.

Shares in Israel Discount Bank Ltd (TA:DSCT) rose to all time highs; up 2.77% or 37.0 to 1371.0.

Crude oil for June delivery was down 0.87% or 0.58 to $65.72 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.16% or 0.12 to hit $74.39 a barrel, while the June Gold Futures contract rose 0.42% or 5.40 to trade at $1278.60 a troy ounce.

USD/ILS was up 0.47% to 3.6187, while EUR/ILS fell 0.06% to 4.0408.

The US Dollar Index Futures was up 0.33% at 97.640.

Investing.com - The greenback rose on Wednesday, while the loonie slumped after the Bank of Canada kept interest rates steady as expected.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.1% to 97.41 as of 10:44 AM ET (14:44 GMT).

USD/CAD rose 0.6% to 1.3502 after the Bank of Canada kept rates at 1.75%, citing a decline in global growth activity due to trade concerns.

“Ongoing uncertainty related to trade conflicts has undermined business sentiment and activity, contributing to a synchronous slowdown across many countries,” the bank said in a statement.

Still, the central bank said it expects growth in Canada to pick up during the second half of the year.

Elsewhere, the euro was lower, as German business morale fell in April. EUR/USD slipped 0.2% to 1.1197, nearing its lowest level since early March.

“Trade pressure and concerns about global protectionism are weighing over Europe’s overall external position and challenging its growth trajectory. We are looking at underperformance relative to the U.S. for now,” said Karl Schamotta, director of foreign exchange strategy and structured products at Cambridge Global Payments.

Meanwhile, sterling was flat, with GBP/USD at 1.2955 as hopes of a breakthrough on Brexit faded.

The dollar was down against the safe-haven yen, with USD/JPY slipping 0.1% to 111.72.

-- Reuters contributed to this report.

Investing.com – Wall Street was muted on Wednesday, as investors digested results from Boeing and Caterpillar just a day after the S&P and Nasdaq reached record highs.

The S&P 500 fell 3 points or 0.1% by 9:50 AM ET (13:50 GMT), while the Dow was down 31 points or 0.1% and tech-heavy Nasdaq composite lost 11 points or 0.1%.

Boeing (NYSE:BA) inched up 0.7% on relief that there were no disappointments besides what was already expected in its first-quarter repprt. The company suffered a 21% fall in profit during the first-quarter due to the worldwide grounding of its 737 Max after two deadly crashes. It said it expects an initial financial hit of $1 billion.

Caterpillar (NYSE:CAT) fell 2.2% after posting a 4% decline in construction revenue in Asia-Pacific, while AT&T (NYSE:T) slipped 3.5% on a revenue miss.

"Thus far you've had pretty strong reactions to earnings and investor sentiment is nervously positive," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.

"The nervousness has to do with valuations and the concern being, 'Am I going to get good enough results and guidance to justify the markets going higher?'"

Elsewhere, Anadarko Petroleum (NYSE:APC) rose 11.2% after Occidental Petroleum (NYSE:OXY) launched a hostile bid at $76 a share, 17% above what Chevron (NYSE:CVX) had offered for the company. Apple (NASDAQ:AAPL) inched up 0.3%, while eBay (NASDAQ:EBAY) jumped 4.1% and Qualcomm (NASDAQ:QCOM) was up 1.5%.

In commodities, gold futures rose 0.1% to $1,274.15 a troy ounce, while crude oil fell 0.1% to $66.27, ending two consecutive days of gains. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.1% to 97.433.

-Reuters contributed to this report.

Investing.com - Stocks in focus in premarket trading on Wednesday:

• Boeing (NYSE:BA) rose 1.6% by 8:15 AM ET (12:15 GMT) as its first-quarter report brought no new disappointments beyond those already priced in. The company suffered a 21% fall in profit and suspended its 2019 guidance as it struggles to fix its 737 Max, grounded worldwide after two deadly crashes.

• Anadarko Petroleum (NYSE:APC) stock rose 11.4% after Occidental Petroleum(NYSE:OXY) bid $76 a share for the company, 17% more than Chevron (NYSE:CVX) had bid for it two weeks ago.

• AT&T (NYSE:T) stock was down 2.2% after its first quarter was hit by declining sales in its WarnerMedia unit.

• Snap (NYSE:SNAP) stock jumped 2.2% after it reported an increase in the number of daily active users and a net loss that was less than expected.

• Texas Instruments (NASDAQ:TXN) stock fell 1.4% after it said slowing demand for semiconductors could hit its sales over the next few quarters.

• Six Flags (NYSE:SIX) stock rose 1.7% after its reported loss of $0.82 per share on revenues of $128.2 million was better than forecast.

• Caterpillar (NYSE:CAT) inched up 0.2% after it raised its profit forecast for the year due to a tax gain from last year’s change of the U.S. tax code.

• Pacific Gas & Electric (NYSE:PCG) stock gained 4% even as Warren Buffett told CNBC that his company, Berkshire Hathaway (NYSE:BRKa), would not buy the troubled utility. The company had surged 25% earlier in the day after a report suggested the two were in talks over a possible buyout.

Investing.com - AT&T (NYSE:T) reported first quarter earnings that matched analysts' expectations on Wednesday and revenue that fell short of forecasts.

The firm reported earnings per share of $0.86 on revenue of $44.87B. Analysts polled by Investing.com forecast EPS of $0.86 on revenue of $45.13B. That compared to EPS of $0.85 on revenue of $38.04B in the same period a year earlier. The company had reported EPS of $0.86 on revenue of $48.04B in the previous quarter.

AT&T follows other major Services sector earnings this month

On Tuesday, Verizon reported first quarter EPS of $1.2 on revenue of $32.13B, compared to forecasts of EPS of $1.17 on revenue of $32.15B.

Netflix earnings Beat analysts' expectations on April 16, with first quarter EPS of $0.76 on revenue of $4.52B. Investing.com analysts expected EPS of $0.58 on revenue of $4.5B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Investing.com - U.S. futures were flat on Wednesday, pausing for breath after the S&P 500 and Nasdaq posted new record highs on the back of upbeat earnings reports.

Dow futures rose 29 points or 0.1% by 6:40 AM ET (10:40 GMT), while the S&P 500 futures contract was flat. Tech-heavy Nasdaq 100 futures inched up half a point.

Overnight news has clouded the macro outlook a little, with China appearing to rein in its monetary stimulus, and Germany's business climate failing to improve in April after signs of a turnaround in March.

There are 42 companies set to report on Wednesday, including Boeing (NYSE:BA), Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT) and Caterpillar (NYSE:CAT).

Snap (NYSE:SNAP) jumped 5.4% in premarket trading after saying its losses were less than expected for the first quarter. The company's number of active daily users also rose. eBay (NASDAQ:EBAY) gained 4.2% after it beat forecasts, while Procter & Gamble (NYSE:PG) inched up 0.5% after stronger-than-expected earnings.

Kraft Heinz (NASDAQ:KHC) slipped 0.5% after news that it is considering selling its Ore-Ida frozen potato business, while Texas Instruments (NASDAQ:TXN) fell 1.3% after it said the slowdown in demand for semiconductors could continue for the next few quarters and hit its sales.

Energy companies are likely to be in focus again, as oil prices fell after two days of gains on news of fresh U.S. moves to restrict Iranian oil exports. Crude oil fell 0.3% to $66.08 a barrel, after reaching a new 2019 high on Monday.

Gold futures inched up 0.1% to $1,274.15 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 97.325.

Investing.com - Anthem (NYSE:ANTM) reported first quarter earnings that Beat analysts' expectations on Wednesday and revenue that fell short of forecasts.

The firm reported earnings per share of $6.03 on revenue of $24.39B. Analysts polled by Investing.com expected EPS of $5.89 on revenue of $24.43B. That compared to EPS of $5.41 on revenue of $22.34B in the same period a year earlier. The company had reported EPS of $2.44 on revenue of $23.3B in the previous quarter.

Anthem follows other major Financial sector earnings this month

On April 12, JPMorgan reported first quarter EPS of $2.65 on revenue of $29.85B, compared to forecasts of EPS of $2.35 on revenue of $28.44B.

Bank of America earnings Beat analysts' expectations on April 16, with first quarter EPS of $0.7 on revenue of $23B. Investing.com analysts expected EPS of $0.66 on revenue of $23.16B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Investing.com - Here are the top five things you need to know in financial markets on Wednesday, April 24:

1. Boeing, Caterpillar , Facebook lead earnings parade

A whopping 42 companies out of the S&P 500 are set to release their numbers on Wednesday.

Ahead of the open, AT&T (NYSE:T) will be under the magnifying glass after Verizon (NYSE:VZ) reported mixed results on Tuesday, while investors digest details of how HBO plans to face off against Disney’s new streaming service.

Boeing (NYSE:BA) (NYSE:BA) also releases quarterly numbers with attention on the status of its grounded 737 MAX jetliner.

Fellow industrial bellwether Caterpillar (NYSE:CAT) will also provide insight into the state of the global economy.

The pace won’t slow at the market close as the focus shifts to numbers from Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT) and Visa (NYSE:V). Analysts will be on the watch for the social media company’s user engagement and the progress with the computer giant’s cloud business, while Visa may offer a glimpse into the current state of credit in the world’s largest economy.

Read more: After Rough 2018, Facebook’s Q1 Earnings May Prove Its Bulls Were Right - Haris Anwar

Tesla (NASDAQ:TSLA) fans and short-sellers will be set for the ongoing debate with the company expected to swing back to a loss after two consecutive quarters of profit.

2. Wall Street pauses near record highs

After earnings sent the S&P 500 and Nasdaq to record highs a day earlier, U.S. futures pointed to a more cautious open on Wednesday after signs that China is easing up on its monetary stimulus and after another disappointing German business confidence survey.

At 5:21 AM ET (9:21 GMT), the blue-chip Dow futures had gained 4 points, S&P 500 futures had slipped 1 point, while the Nasdaq 100 futures declined 7 points. None had fallen by more than 0.1%.

The S&P 500 managed to erase all the steep losses it saw in late 2018 by ending Tuesday above the previous record reached on Sept. 20. It closed just 0.3% below its intra-day record high of 2,940.91 hit on Sept. 21.

With the Federal Reserve signalling it's still in neutral gear, earnings will be the main factor determining whether the index hits news highs ahead of Friday’s reading on economic growth in the first quarter.

3. Oil breaks winning streak on surge in U.S. inventories

Oil prices broke a two-day winning streak on Wednesday as a larger-than-expected surge in U.S. crude stockpiles prompted profit-taking near six-month highs.

The International Energy Agency (IEA), a watchdog for oil consuming countries, also said Tuesday that markets are "adequately supplied" and that "global spare production capacity remains at comfortable levels."

That eased concerns about market tightness after Saudi Arabian Oil Minister Khalid al-Falih told a conference his country won't immediately increase oil output to offset the impact of fresh U.S. action against Iran. The U.S. said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action.

At 5:24 AM ET (9:24 GMT), U.S. crude oil futures were down 36 cents, or 0.6%, to $65.94, while Brent oil was down 21 cents, or 0.3%, at $74.30.

The American Petroleum Institute said Tuesday that crude stockpiles surged by 6.9 million barrels last week. Official government data from the Energy Information Administration will be released at 10:30 AM ET (14:30 GMT), amid expectations for a build of just 1.26 million barrels.

West Texas Intermediate oil was still on track for gains of 3% this week.

4. BoC set to stand pat on rates

The Bank of Canada will announce the results of its latest monetary policy meeting at 10:00 AM (14:00 GMT) Wednesday and is expected to keep interest rates on hold.

The Bank of Japan and Turkey’s central bank are both expected to follow suit with no changes expected on Thursday.

The three monetary policy announcements come ahead of the Federal Reserve and the Bank of England meetings next week.

The Fed, which was the first of the major central banks to begin policy tightening, shifted gears this year with a pledge to be “patient”. In fact, markets currently price in more than a 50% chance that Powell and team will cut rates by the end of the year, according to Investing.com's Fed Rate Monitor Tool.

5. U.S.-China trade talks to resume next week, target draft agreement

High-level trade talks between the world’s two largest economies are set to resume next week in Beijing with the intention to draft an agreement before June.

U.S. Press Secretary Sarah Huckabee Sanders indicated late Tuesday that Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet with Chinese Vice Premier Liu He on April 30 in Beijing.

Liu will then reciprocate by travelling to Washington for more talks on May 8.

“The subject of next week’s discussions will cover trade issues including intellectual property, forced technology transfer, non-tariff barriers, agriculture, services, purchases, and enforcement,” Sanders said in a statement.

The two sides are seeking to have a draft agreement by the end of May, a person familiar with the matter told Bloomberg.

Investing.com - Litecoin was trading at $70.740 by 03:50 (07:50 GMT) on the Investing.com Index on Wednesday, down 10.25% on the day. It was the largest one-day percentage loss since April 11.

The move downwards pushed Litecoin's market cap down to $4.480B, or 2.48% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B.

Litecoin had traded in a range of $70.643 to $74.729 in the previous twenty-four hours.

Over the past seven days, Litecoin has seen a drop in value, as it lost 9.24%. The volume of Litecoin traded in the twenty-four hours to time of writing was $2.932B or 6.00% of the total volume of all cryptocurrencies. It has traded in a range of $70.6429 to $82.9826 in the past 7 days.

At its current price, Litecoin is still down 83.16% from its all-time high of $420.00 set on December 12, 2017.

Elsewhere in cryptocurrency trading

Bitcoin was last at $5,427.7 on the Investing.com Index, down 1.40% on the day.

Ethereum was trading at $162.28 on the Investing.com Index, a loss of 7.40%.

Bitcoin's market cap was last at $98.852B or 54.76% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.726B or 9.82% of the total cryptocurrency market value.

Investing.com - XRP fell bellow the $0.29970 level on Wednesday. XRP was trading at 0.29970 by 03:43 (07:43 GMT) on the Investing.com Index, down 8.29% on the day. It was the largest one-day percentage loss since February 24.

The move downwards pushed XRP's market cap down to $13.35670B, or 7.34% of the total cryptocurrency market cap. At its highest, XRP's market cap was $79.53400B.

XRP had traded in a range of $0.29963 to $0.32424 in the previous twenty-four hours.

Over the past seven days, XRP has seen a drop in value, as it lost 2.07%. The volume of XRP traded in the twenty-four hours to time of writing was $1.01101B or 2.08% of the total volume of all cryptocurrencies. It has traded in a range of $0.2996 to $0.3447 in the past 7 days.

At its current price, XRP is still down 90.89% from its all-time high of $3.29 set on January 4, 2018.

Elsewhere in cryptocurrency trading

Bitcoin was last at $5,505.7 on the Investing.com Index, down 0.11% on the day.

Ethereum was trading at $164.41 on the Investing.com Index, a loss of 6.14%.

Bitcoin's market cap was last at $98.88716B or 54.34% of the total cryptocurrency market cap, while Ethereum's market cap totaled $17.88515B or 9.83% of the total cryptocurrency market value.