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Market Updates

Crude prices hold gains in Asia with API estimates eyed

Investing.com - Crude prices rebounded in Asia on Tuesday with industry data on inventories ahead expected to set the near-term tone and comments by the an official with the Paris-based International Energy Agency (IEA) suggesting solid demand from Asia.

"Both the very robust demand growth and declining supply will increase the import requirement of the Asian continent," Keisuke Sadamori, director of the Energy Markets and Security Directorate, told CNBC.

On the New York Mercantile Exchange crude futures for May delivery rose 0.50% to $47.97 a barrel. On London's Intercontinental Exchange, Brent gained 0.37% to $51.09 a barrel.

Ahead, the American Petroleum Institute will release its estimates of crude oil and refined product stockpiles at the end of last week, followed by official data from the U.S. Department of Energy on Wednesday. A 1.183 million barrels build in crude is seen with a 1.106 million barrels fall in distillates and a 1.933 million drop in gasoline stocks.

Overnight, crude settled lower on Monday, as investors questioned whether an OPEC-led production cut would be extended beyond June amid worries over a glut in supply.

Oil prices fell to November lows during the U.S. session, as concerns over a glut in U.S. inventories, continued to weigh on sentiment, despite an agreement from a join committee of ministers from OPEC and non-OPEC oil producers to review whether the current OPEC-led deal to cut production should be extended for an additional six-months.

Investors focused on a significant change in tone from the joint committee, as an earlier draft of the statement had said the committee “reports high level of conformity and recommends a six-month extension” but the final version omitted the recommendation, and called for “a technical group and the OPEC Secretariat to review oil market condition and revert … in April 2017.”

In November last year, OPEC and other producers, including Russia agreed to cut output by about 1.8 million barrels per day (bpd) in an effort to combat the oversupply issue that has pressured prices over the last two years.

Investors fear that the sharp increase in U.S. crude and shale production could dampened OPEC’s efforts to rebalance supply and demand in the industry, after a report last week revealed U.S. crude oil stockpiles rose to an all-time high of 533.1 million barrels.

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PBOC Sets yuan parity rate at 6.8782 against dollar

Investing.com - The People's Bank of China set the yuan mid-point at 6.8782 against the dollar on Tuesday, compared with the previous close of 6.8767.

The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate.

Market watchers see a yuan level of 7 against the dollar as a key touchstone for sentiment in the near term.

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Peru stocks lower at close of trade; S&P Lima General down 0.33%

Investing.com – Peru stocks were lower after the close on Monday, as losses in the Mining, Food&Beverages and Banking&Financials sectors led shares lower.

At the close in Lima, the S&P Lima General fell 0.33%.

The best performers of the session on the S&P Lima General were Panoro (LM:PML), which rose 8.93% or 0.010 points to trade at 0.122 at the close. Meanwhile, Grana Y Monter (LM:GRA) added 6.17% or 0.100 points to end at 1.720 and Relapasa (LM:REL) was up 5.00% or 0.011 points to 0.231 in late trade.

The worst performers of the session were Southern Copper Corp (LM:SPC), which fell 4.06% or 1.48 points to trade at 34.95 at the close. Backus Johnsto (LM:BKJi) declined 3.31% or 0.510 points to end at 14.900 and Ferreyros (LM:FER) was down 2.10% or 0.040 points to 1.860.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 13 to 11 and 7 ended unchanged.

Crude oil for May delivery was down 0.27% or 0.13 to $47.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 0.10% or 0.05 to hit $51.03 a barrel, while the April Gold Futures contract rose 0.46% or 5.75 to trade at $1254.25 a troy ounce.

USD/PEN was unchanged 0.00% to 3.2520, while EUR/PEN unchanged 0.00% to 3.5257.

The US Dollar Index Futures was down 0.56% at 99.03.

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Dow slides for 8th day as 'Trump trade' takes a breather

Investing.com – U.S. stocks closed mostly lower on Monday, as investors mulled over President Trump’s ability to push through key proposals, which include tax reform, after the healthcare bill was dropped on Friday.

In what was quiet day on the economic calendar, the U.S. House of Representatives’ decision to withdraw a healthcare bill to repeal and replace Obamacare on Friday remained front and center.

Investors eased off the ‘Trumpflation trade’, which had pushed U.S equities to all-time highs in February, based on Trump’s promise to introduce pro-growth policies, as worries mounted that the healthcare bill setback could weigh on the success of Trump’s pro-growth policies being passed.

Hospital stocks offered investors some respite, as the proposed healthcare bill to replace Obamacare was viewed as a threat to hospitals and physicians, as it would have significantly reduce the number of Americans with health insurance.

Meanwhile, President Trump moved on from the setback as he rolled back more Obama-era regulations, after signing four bills that reverse rules on education, land use and federal purchasing.

Elsewhere, investors digested comments from Chicago Fed President Charles Evans on Monday, after he said that inflation is “well underway” to reaching the U.S. economic objectives but raised concerns over long-term inflation expectations.

Chicago Fed member Evans’ comments had little impact on U.S. stocks.

In corporate news, Snap Inc (NYSE:SNAP) closed nearly 5% higher at $23.83, after several Wall Street analysts initiated coverage on the stock with a “buy” rating.

The Dow Jones Industrial Average closed 0.22% lower at 20,550. The S&P 500 shed 0.10% and the Nasdaq Composite closed higher at 5840.37. The Dow closed lower for an eighth-straight session.

The top S&P 500 gainers included HCA Holdings Inc (NYSE:HCA) up 5.2%, and Universal Health Services Inc (NYSE:UHS) up 3.3%, while Best Buy Co Inc (NYSE:BBY) added 3%.

Freeport-McMoran Copper & Gold Inc (NYSE:FCX) down 4.7%, Halliburton Company (NYSE:HAL) down 3.3% and Kimco Realty Corporation (NYSE:KIM) slumped 2.6%, were among the worst S&P 500 performers of the session.

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Brazil stocks higher at close of trade; Bovespa up 0.71%

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

At the close in Sao Paulo, the Bovespa gained 0.71%.

The best performers of the session on the Bovespa were Usinas Siderurgicas de Minas Gerais (SA:USIM5), which rose 8.64% or 0.35 points to trade at 4.40 at the close. Meanwhile, Cia Siderurgica Nacional SA (SA:CSNA3) added 4.09% or 0.40 points to end at 10.19 and Smiles ON (SA:SMLE3) was up 3.79% or 2.20 points to 60.20 in late trade.

The worst performers of the session were Centrais Eletricas Brasileiras SA (SA:ELET3), which fell 5.42% or 1.03 points to trade at 17.99 at the close. Klabin Unt (SA:KLBN11) declined 3.72% or 0.53 points to end at 13.72 and Fibria Celulose SA (SA:FIBR3) was down 2.62% or 0.73 points to 27.10.

Falling stocks outnumbered advancing ones on the Sao Paulo Stock Exchange by 194 to 158 and 37 ended unchanged.

Shares in Klabin Unt (SA:KLBN11) fell to 52-week lows; down 3.72% or 0.53 to 13.72.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 2.78% to 35.55.

Gold Futures for April delivery was up 0.44% or 5.50 to $1254.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.35% or 0.17 to hit $47.80 a barrel, while the May US coffee C contract rose 1.27% or 1.75 to trade at $139.32 .

USD/BRL was up 0.55% to 3.1268, while EUR/BRL rose 1.15% to 3.3972.

The US Dollar Index Futures was down 0.58% at 99.01.

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.22%

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the Basic Materials, Healthcare and Technology sectors led shares higher while losses in the Telecoms, Financials and Utilities sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 0.22% to hit a new 1-month low, while the S&P 500 index declined 0.10%, and the NASDAQ Composite index climbed 0.20%.

The best performers of the session on the Dow Jones Industrial Average were E I du Pont de Nemours&Co (NYSE:DD), which rose 1.23% or 0.98 points to trade at 80.58 at the close. Meanwhile, Intel Corporation (NASDAQ:INTC) added 0.65% or 0.23 points to end at 35.39 and Pfizer Inc (NYSE:PFE) was up 0.53% or 0.18 points to 34.18 in late trade.

The worst performers of the session were Chevron Corporation (NYSE:CVX), which fell 1.58% or 1.71 points to trade at 106.28 at the close. Goldman Sachs Group Inc (NYSE:GS) declined 1.28% or 2.93 points to end at 225.48 and Verizon Communications Inc (NYSE:VZ) was down 1.09% or 0.54 points to 49.14.

The top performers on the S&P 500 were HCA Holdings Inc (NYSE:HCA) which rose 5.17% to 90.49, Universal Health Services Inc (NYSE:UHS) which was up 3.35% to settle at 125.97 and Best Buy Co Inc (NYSE:BBY) which gained 3.01% to close at 46.20.

The worst performers were Freeport-McMoran Copper&Gold Inc (NYSE:FCX) which was down 4.64% to 12.21 in late trade, Frontier Communications Corporation (NASDAQ:FTR) which lost 3.35% to settle at 2.02 and Halliburton Company (NYSE:HAL) which was down 3.30% to 47.78 at the close.

The top performers on the NASDAQ Composite were Cellect Biotechnology Ltd (NASDAQ:APOP) which rose 74.00% to 10.90, Impax Laboratories Inc (NASDAQ:IPXL) which was up 37.30% to settle at 12.70 and Staffing 360 Solutions Inc (NASDAQ:STAF) which gained 30.34% to close at 0.952.

The worst performers were Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) which was down 41.76% to 5.30 in late trade, G-III Apparel Group Ltd (NASDAQ:GIII) which lost 14.09% to settle at 19.69 and Zais Group Holdings Inc (NASDAQ:ZAIS) which was down 13.36% to 2.530 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1636 to 1575 and 43 ended unchanged; on the Nasdaq Stock Exchange, 1438 rose and 1073 declined, while 100 ended unchanged.

Shares in HCA Holdings Inc (NYSE:HCA) rose to 52-week highs; up 5.17% or 4.45 to 90.49. Shares in Cellect Biotechnology Ltd (NASDAQ:APOP) rose to all time highs; rising 74.00% or 4.64 to 10.90. Shares in Foamix Pharmaceuticals Ltd (NASDAQ:FOMX) fell to 52-week lows; down 41.76% or 3.80 to 5.30. Shares in G-III Apparel Group Ltd (NASDAQ:GIII) fell to 3-years lows; losing 14.09% or 3.23 to 19.69.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 3.09% to 12.56.

Gold Futures for April delivery was up 0.48% or 6.05 to $1254.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.40% or 0.19 to hit $47.78 a barrel, while the June Brent oil contract fell 0.02% or 0.01 to trade at $50.91 a barrel.

EUR/USD was up 0.61% to 1.0864, while USD/JPY fell 0.66% to 110.64.

The US Dollar Index Futures was down 0.57% at 99.02.

Read More

Fed’s Evans: Inflation on path toward 2% target

Investing.com – Chicago Fed President Charles Evans said Monday that inflation is “well underway” to reaching the U.S. economic objectives but raised concerns over long-term inflation expectations.

Evans talked up the strong rebound in short-term inflation and suggested that shorter term prices are more likely to reach the Fed’s 2% target than longer term prices.

"Inflation is well under way toward our 2 percent target," Evans told a conference in Madrid. "I'd like to see it happen a little bit sooner than many forecast. I still worry that long term inflation expectations are running below our 2 percent inflation objective." Evans said on Monday at Global Interdependence Center Central Banking Series held in Madrid.

After the Fed’s less hawkish than expected statement on March 15, investors continued to digest comments from Federal Reserve officials to gauge the pulse of Fed, as the U.S. central bank seeks to gradually remove accommodative policy.

Chicago Fed member Evans’ comments had little impact on markets.

The U.S. dollar index traded at 99.01, down 0.57%.

Gold futures continued to trade close to session highs at $1,255 while Treasury yields remained in negative territory with U.S. 10-Year trading at around 2.375.

The Dow Jones Industrial Average traded 0.21% lower at 20,553. The S&P 500 shed 0.25% and the Nasdaq Composite traded higher at 5,845. The Nasdaq rebounded from a 1% loss sustained during early morning trade.

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Gold glitters to 1-month high as ‘Trumpflation trade’ fades

Investing.com - Gold prices traded higher on Monday, as investors raised concerns over President Trump’s ability to deliver on his pro-growth policies, after the Trump administration failed to push a health care bill through congress on Friday.

Gold for April delivery on the Comex division of the New York Mercantile Exchange gained $6.75 or 0.54%, to trade at $1,255.25 a troy ounce by 13:47 EDT. Gold prices rose to a session of high of $1,260.95 in early morning trade.

Gold prices remained at session highs, after a slump in the dollar continued to lend support to dollar-denominated gold, as investors fled the so-called ‘Trumpflation trade’ amid worries that the healthcare bill setback could weigh on the success of Trump’s pro-growth policies being passed.

The dollar had rallied post-election, as investors piled into the so-called ‘Trumpflation trade’ based on the notion that President Trump’s promise to increase spending, speed up deregulation and introduce tax-reform, viewed as inflationary, would perk up the dollar.

House Speaker Ryan, failed to address concerns regarding Trump’s ability to push through his pro-growth economic agenda, which includes tax reform, after Mr Ryan admitted on Friday that “it [the withdrawal of the healthcare bill] does make tax reform more difficult but it does not make it impossible”.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, lost 0.63% to 98.96 by 13:59 EDT. The dollar sank to a four-month low of 98.67 at the start of the U.S. session.

The slump in the dollar supported commodity prices across the board, as silver futures rose 2.03% to $18.11, a troy ounce while copper traded mostly flat.

Platinum tacked on 0.33% to $974.45 while Natural Gas traded 0.27% lower to $3.151.

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Dollar continues to wobble amid Trump jitters

Investing.com - The dollar fell against a basket of major currencies on Monday, as investors dumped the dollar amid doubts over President Trump’s ability to deliver on his pro-growth economic agenda.

The dollar dropped to its lowest level since November, as the U.S. House of Representatives’ decision to withdrew a healthcare bill to repeal and replace Obamacare on Friday, continued to weigh on sentiment.

Investors viewed the failure to pass the bill as a major setback for the Trump administration and started to question President Trump’s ability to push through more ‘market sensitive’ legislation such as tax reform.

House Speaker Ryan, added to fears that the healthcare reform setback could impact the future success of future legislation being passed, after he admitted on Friday that “it [the withdrawal of the healthcare bill] does make tax reform more difficult but it does not make it impossible”

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, dipped 0.68% to 98.91 by 12:40 EDT.

Elsewhere, sterling reached an eight-week high against the dollar of $1.2616, ahead of busy week, as the calendar features the start of formal Brexit proceedings, after Theresa May said that Article 50, would be triggered on March 29.

GBP/USD traded at $1.2567, up 0.75%, while EUR/USD gained 0.69% to $1.0873, after a stronger than expected German IFO print added a layer of support to the single currency.

Meanwhile, the USD/JPY offered the strongest moves overnight as the dollar fell more than 1% to a session low of 110.12, after investors piled into the yen, a safe haven currency, amid wobbles in U.S. equity markets.

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Portugal stocks higher at close of trade; PSI 20 up 0.69%

Investing.com – Portugal stocks were higher after the close on Monday, as gains in the Financials, Consumer Services and Utilities sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.69% to hit a new 1-month high.

The best performers of the session on the PSI 20 were Banco Comercial Portugues (LS:BCP), which rose 4.76% or 0.0082 points to trade at 0.1804 at the close. Meanwhile, Montepio (LS:MPIO) added 1.42% or 0.006 points to end at 0.429 and J. Martins SGPS (LS:JMT) was up 1.27% or 0.2000 points to 15.9700 in late trade.

The worst performers of the session were Pharol SGPS SA (LS:PHRA), which fell 1.81% or 0.0070 points to trade at 0.3800 at the close. Altri SGPS (LS:ALSS) declined 1.66% or 0.0690 points to end at 4.0900 and CTT Correios de Portugal SA (LS:CTT) was down 1.54% or 0.0790 points to 5.0410.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 17 to 14 and 8 ended unchanged.

Brent oil for June delivery was down 0.31% or 0.16 to $50.76 a barrel. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.81% or 0.39 to hit $47.58 a barrel, while the April Gold Futures contract rose 0.54% or 6.75 to trade at $1255.25 a troy ounce.

EUR/USD was up 0.69% to 1.0873, while EUR/GBP fell 0.08% to 0.8652.

The US Dollar Index Futures was down 0.65% at 98.94.

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Spain stocks lower at close of trade; IBEX 35 down 0.06%

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

At the close in Madrid, the IBEX 35 lost 0.06%.

The best performers of the session on the IBEX 35 were Melia Hotels (MC:MEL), which rose 2.12% or 0.265 points to trade at 12.785 at the close. Meanwhile, Iberdrola (MC:IBE) added 1.34% or 0.087 points to end at 6.572 and Grifols SA (MC:GRLS) was up 1.22% or 0.270 points to 22.420 in late trade.

The worst performers of the session were Arcel. Mittal (MC:MTS), which fell 4.66% or 0.372 points to trade at 7.604 at the close. International Consolidated Airlines Group SA (MC:ICAG) declined 2.80% or 0.178 points to end at 6.183 and Acerinox (MC:ACX) was down 2.69% or 0.355 points to 12.865.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 98 to 62 and 15 ended unchanged.

Shares in Melia Hotels (MC:MEL) rose to 52-week highs; rising 2.12% or 0.265 to 12.785. Shares in Iberdrola (MC:IBE) rose to 5-year highs; up 1.34% or 0.087 to 6.572. Shares in Grifols SA (MC:GRLS) rose to 52-week highs; up 1.22% or 0.270 to 22.420.

Gold Futures for April delivery was up 0.49% or 6.15 to $1254.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.73% or 0.35 to hit $47.62 a barrel, while the June Brent oil contract fell 0.22% or 0.11 to trade at $50.81 a barrel.

EUR/USD was up 0.70% to 1.0874, while EUR/GBP fell 0.09% to 0.8651.

The US Dollar Index Futures was down 0.65% at 98.94.

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Netherlands stocks lower at close of trade; AEX down 0.43%

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

At the close in Amsterdam, the AEX declined 0.43%.

The best performers of the session on the AEX were Heineken (AS:HEIN), which rose 1.24% or 0.97 points to trade at 79.27 at the close. Meanwhile, Koninklijke Ahold Delhaize NV (AS:AD) added 0.96% or 0.19 points to end at 19.99 and Akzo Nobel (AS:AKZO) was up 0.82% or 0.64 points to 78.34 in late trade.

The worst performers of the session were ArcelorMittal SA (AS:ISPA), which fell 4.87% or 0.389 points to trade at 7.598 at the close. Aegon (AS:AEGN) declined 2.32% or 0.113 points to end at 4.754 and Gemalto (AS:GTO) was down 1.54% or 0.77 points to 49.22.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 87 to 31 and 16 ended unchanged.

Shares in Akzo Nobel (AS:AKZO) rose to all time highs; gaining 0.82% or 0.64 to 78.34.

The AEX Volatility, which measures the implied volatility of AEX options, was up 6.12% to 14.14.

Crude oil for May delivery was down 0.75% or 0.36 to $47.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.24% or 0.12 to hit $50.80 a barrel, while the April Gold Futures contract rose 0.50% or 6.25 to trade at $1254.75 a troy ounce.

EUR/USD was up 0.70% to 1.0874, while EUR/GBP fell 0.09% to 0.8651.

The US Dollar Index Futures was down 0.65% at 98.94.

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Russia stocks lower at close of trade; MICEX down 1.30%

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

At the close in Moscow, the MICEX fell 1.30%.

The best performers of the session on the MICEX were Megion (MCX:MFGS), which rose 1.61% or 10.0 points to trade at 630.0 at the close. Meanwhile, Polymetal International PLC (MCX:POLY) added 0.54% or 4.00 points to end at 742.50 and Tatneft OAO Pref (MCX:TATN_p) was up 0.10% or 0.20 points to 205.90 in late trade.

The worst performers of the session were FSK EES (MCX:FEES), which fell 5.99% or 0.0114 points to trade at 0.1790 at the close. AK Transneft OAO Pref (MCX:TRNF_p) declined 5.72% or 11400 points to end at 187750 and Rosseti ao (MCX:RSTI) was down 5.00% or 0.0497 points to 0.9435.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 161 to 57 and 19 ended unchanged.

The Russian VIX, which measures the implied volatility of MICEX options, was up 0.08% to 24.750.

Gold Futures for April delivery was up 0.50% or 6.25 to $1254.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.75% or 0.36 to hit $47.61 a barrel, while the June Brent oil contract fell 0.24% or 0.12 to trade at $50.80 a barrel.

USD/RUB was up 0.11% to 56.9550, while EUR/RUB rose 0.73% to 61.957.

The US Dollar Index Futures was down 0.65% at 98.94.

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U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.60%

Investing.com – U.K. stocks were lower after the close on Monday, as losses in the Industrial Metals&Mining, Mining and Construction&Materials sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 declined 0.60% to hit a new 1-month low.

The best performers of the session on the Investing.com United Kingdom 100 were Next PLC (LON:NXT), which rose 2.47% or 102.00 points to trade at 4232.00 at the close. Meanwhile, Centrica PLC (LON:CNA) added 1.43% or 3.10 points to end at 219.50 and Shire PLC (LON:SHP) was up 0.96% or 45.00 points to 4721.50 in late trade.

The worst performers of the session were Antofagasta PLC (LON:ANTO), which fell 4.70% or 39.00 points to trade at 791.50 at the close. Glencore PLC (LON:GLEN) declined 4.38% or 14.00 points to end at 305.75 and Babcock International Group PLC (LON:BAB) was down 4.31% or 39.50 points to 877.00.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1364 to 587 and 419 ended unchanged.

Gold Futures for April delivery was up 0.44% or 5.45 to $1253.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in May fell 0.73% or 0.35 to hit $47.62 a barrel, while the June Brent oil contract fell 0.14% or 0.07 to trade at $50.85 a barrel.

GBP/USD was up 0.84% to 1.2578, while EUR/GBP fell 0.17% to 0.8644.

The US Dollar Index Futures was down 0.65% at 98.94.

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Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.33%

Investing.com – Sweden stocks were lower after the close on Monday, as losses in the Basic Materials, Oil&Gas and Industrials sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 lost 0.33%.

The best performers of the session on the OMX Stockholm 30 were Fingerprint Cards AB ser. B (ST:FINGb), which rose 4.65% or 1.65 points to trade at 37.14 at the close. Meanwhile, Telefonaktiebolaget LM Ericsson B (ST:ERICb) added 1.58% or 0.92 points to end at 59.17 and AstraZeneca PLC (ST:AZN) was up 1.09% or 6.0 points to 555.0 in late trade.

The worst performers of the session were SSAB AB ser. A (ST:SSABa), which fell 3.86% or 1.37 points to trade at 34.09 at the close. Boliden AB (ST:BOL) declined 2.67% or 7.30 points to end at 265.70 and Alfa Laval AB (ST:ALFA) was down 1.87% or 3.1 points to 163.1.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 484 to 204 and 65 ended unchanged.

Crude oil for May delivery was down 0.44% or 0.21 to $47.76 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 0.10% or 0.05 to hit $50.97 a barrel, while the April Gold Futures contract rose 0.46% or 5.75 to trade at $1254.25 a troy ounce.

EUR/SEK was up 0.37% to 9.5448, while USD/SEK fell 0.40% to 8.7745.

The US Dollar Index Futures was down 0.68% at 98.91.

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Norway stocks lower at close of trade; Oslo OBX down 2.02%

Investing.com – Norway stocks were lower after the close on Monday, as losses in the Diversified Financials, Pharma Biotech&Life Sciences and Materials sectors led shares lower.

At the close in Oslo, the Oslo OBX declined 2.02% to hit a new 3-months low.

The best performers of the session on the Oslo OBX were Gjensidige Forsikring ASA (OL:GJFS), which fell 0.45% or 0.6 points to trade at 132.2 at the close. Meanwhile, Orkla ASA (OL:ORK) fell 0.52% or 0.40 points to end at 76.05 and Schibsted ASA A (OL:SBSTA) was down 0.59% or 1.3 points to 217.9 in late trade.

The worst performers of the session were REC Silicon ASA (OL:REC), which fell 5.74% or 0.07 points to trade at 1.07 at the close. Seadrill Limited (OL:SDRL) declined 5.17% or 0.63 points to end at 11.56 and Aker BP ASA (OL:AKERBP) was down 5.05% or 7.10 points to 133.60.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 160 to 22 and 17 ended unchanged.

Crude oil for May delivery was down 0.42% or 0.20 to $47.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June rose 0.12% or 0.06 to hit $50.98 a barrel, while the April Gold Futures contract rose 0.45% or 5.65 to trade at $1254.15 a troy ounce.

EUR/NOK was up 0.49% to 9.2163, while USD/NOK fell 0.23% to 8.4725.

The US Dollar Index Futures was down 0.68% at 98.91.

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Dollar index hits November lows on Trump trade doubts

Investing.com - The dollar slumped to the lowest level since November against a basket of the other major currencies on Monday amid growing doubts over the Trump administration’s ability to deliver on a pro-growth economic agenda.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.71% at 98.88 by 11.00 ET, after plumbing 98.67, its lowest trough since November 11.

The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump trade’.

A planned vote on legislation to repeal and replace the Affordable Care Act was pulled on Friday night after it became apparent that it didn’t have enough support from Republicans.

The vote had been viewed by investors as a critical test of President Trump's ability to work with Congress to deliver on his campaign economic pledges, including tax cuts and infrastructure spending.

The dollar was lower against the traditional safe haven yen, with USD/JPY last at 110.40 after earlier falling as low as 110.12, the weakest level since November 18.

The euro hit its highest level since November, with EUR/USD climbing 0.81% to 1.0885.

The single currency was boosted after European Central Bank executive board member Sabine Lautenschlager said the markets should get ready for “a change” in ECB policy.

The remarks, made during the ECB’s annual press conference on banking supervision, added to speculation that it could soon slow its quantitative easing stimulus program.

Sterling was also higher against the weaker dollar, with GBP/USD advancing 0.79% to 1.2571.

The selloff in the dollar overshadowed concerns about Britain beginning the formal process of exiting the European Union later in the week.

Sterling was little changed against the euro, with EUR/GBP at 0.8656.

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Wall St lower as 'Trump trade' bets pulled

Investing.com - U.S. stocks lower Monday in line with global pullback as Trump's healthcare deal stymied.
Trump's failure to get House approval to replace Obamacare reduced his stock as a political deal maker.
The DJI was off 0.65% at 10:15 ET. The S&P 500 lost 0.64%.
The tech-heavy Nasdaq composite fell 0.60%.
Thedollar index fell below 99 for the first time since just after the November elections.
Oil was lower as doubts rose about an extension of OPEC-led output cuts.
Banks were lower as U.S. Treasury yields fell. The 10-year dipped to the 2.36% mark.
(NYSE:Snap) was up 2.86% at $23.39 as IPO underwriters started coverage with buy recommendations.

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Dallas Fed Manufacturing Business Index 16.9 vs. 22.0 forecast

The Federal Reserve Bank of Dallas manufacturing business index rose less-than-expected last month, official data showed on Monday.

In a report, Dallas Fed said that Dallas Fed Mfg Business Index rose to a seasonally adjusted annual rate of 16.9, from 24.5 in the preceding month.

Analysts had expected Dallas Fed Mfg Business Index to rise 22.0 last month.
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Mexican economic activity 3.00% vs. 1.90% forecast

Economic activity in Mexico rose unexpectedly last month, official data showed on Monday.

In a report, Instituto Nacional de Estadistica y Geografia said that Mexican Economic Activity rose to a seasonally adjusted 3.00%, from 2.10% in the preceding month.

Analysts had expected Mexican Economic Activity to fall to 1.90% last month.
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Canadian dollar little changed on weak oil prices

Investing.com - The Canadian dollar was little changed against its broadly weaker U.S. counterpart on Monday as gains were held in check by weaker prices for oil, a major Canadian export.

USD/CAD was at 1.3377 by 09.40 ET, not far from Friday’s close of 1.3375.

The U.S. dollar remained broadly weaker as doubts about the Trump administration’s ability to deliver on campaign economic pledges rattled investors.

A planned vote on a healthcare overhaul was pulled late Friday after it didn’t gather enough support from Republicans.

The vote had been viewed by investors as a critical test of President Trump's ability to work with Congress to deliver on his pro-growth economic agenda, including tax cuts and infrastructure spending.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.87% at 98.87, its lowest trough since November 11.

The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.

Gains for the loonie, as the Canadian dollar is also known, were checked as oil prices fell towards $50 a barrel amid a lack of clarity on whether an OPEC-brokered output cut will be extended beyond June in a bid to support the market.

Friday’s lackluster domestic inflation data also weighed on the Canadian dollar.

The annual inflation rate dipped to 2.0% in February from 2.1% in January, Statistics Canada said, in a report that gave the Bank of Canada leeway to keep interest rates on hold for longer.

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U.S. natural gas builds on gains to reach 6-week high

Investing.com - U.S. natural gas futures extended gains to a third session on Monday, reaching a six-week high as forecasts showing cooler weather on the way boosted the heating fuel.

U.S. natural gas for May delivery rallied 3.6 cents, or around 1.2% to $3.189 per million British thermal units by 9:00AM ET (13:00GMT), after hitting $3.208, a level not seen since early February.

A colder weather system will arrive over the Northeast later this week, according to forecasters at NatGasWeather.com, which should result in a modest increase in heating demand.

About half of U.S. homes use natural gas for heating.

Prices of the heating fuel are up around 15% so far this month after plunging by almost 30% in the first two months of the year.

Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 43 and 54 billion cubic feet in the week ended March 24.

That compares with a withdrawal of 150 billion cubic feet in the preceding week, a decline of 25 billion a year earlier and a five-year average drop of 27 billion cubic feet.

Total natural gas in storage currently stands at 2.092 trillion cubic feet, according to the U.S. Energy Information Administration, 16% lower than levels at this time a year ago but 12.7% above the five-year average for this time of year.

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Gold rises to highest level in a month amid doubts over Trump's policies

Investing.com - Gold prices rose to a one-month high during North American morning hours on Monday, as the dollar and global equities sank following President Donald Trump's failure to pass healthcare reform.

Investors viewed the Trump administration's failure to push through the healthcare bill as a sign he may also face further setbacks delivering on other policy pledges, including corporate tax cuts, regulatory reform and infrastructure spending.

Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It was last at $1,258.45 by 8:30AM ET (12:30GMT), up $10.00, or around 0.8%.

Meanwhile, spot gold was up $13.60 at $1,258.40.

The dollar slid to a near five-month low against a basket of currencies, while global stock markets sold off after President Donald Trump's failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on growth policies that have been priced in since his election.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down almost 0.9% at 98.74 in early New York morning trade, a level not seen since November 11.

The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.

Meanwhile, U.S. Treasury yields edged lower, with the benchmark 10-year note yield falling to a four-week low of 2.357%.

Also on the Comex, silver futures for May delivery jumped 27.9 cents, or about 1.6%, to $18.02 a troy ounce, the most since March 2.

Meanwhile, platinum added 1.5% to $985.75, while palladium shed 0.6% to $808.92 an ounce.

Elsewhere in metals trading, copper futures dropped 5.0 cents, or 1.9%, to $2.581 a pound.

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Dollar slumps after healthcare bill failure

Investing.com - The dollar slumped to the lowest levels in four months against a basket of the other major currencies on Monday as doubts about the Trump administration’s ability to deliver on campaign economic pledges rattled investors.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.72% at 98.87, its lowest trough since November 11.

The index had surged to almost 14-year highs in early January on the back of expectations for a strong economic recovery and higher inflation, the so called ‘Trump Trade’.

A planned vote on legislation to repeal and replace the Affordable Care Act was pulled on Friday night after it became apparent that it didn’t have enough support from Republicans.

The vote had been viewed by investors as a critical test of President Trump's ability to work with Congress to deliver on his pro-growth economic agenda, including tax cuts and infrastructure spending.

The dollar was down more than 1% against the traditional safe haven yen, with USD/JPY last at 110.23 after plumbing 110.12, the lowest level since November 18.

The euro advanced to its highest levels since early December, with EUR/USD climbing 0.74% to 1.0878.

The single currency hit the day’s highs after European Central Bank executive board member Sabine Lautenschlager said markets should prepare for a change in ECB policy.

The remarks added to speculation that the central bank is preparing for a withdrawal of quantitative easing.

Earlier in the day a report showed that German investor sentiment hit a 68-month high this month, suggesting that concerns over protectionism are easing.

The Ifo business climate survey jumped to 112.3 this month, from 111.1 in February.

Sterling was also higher against the weaker dollar, with GBP/USD advancing 0.96% to 1.2592.

The selloff in the dollar overshadowed concerns about Britain beginning the formal process of exiting the European Union later in the week.

Meanwhile, the Australian and New Zealand dollars were higher, with AUD/USD up 0.29% to 0.7646 and NZD/USD rising 0.56% to 0.7064.

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EC approved Dow/DuPont merger subject to conditions

Investing.com - The EC Monday conditionally approved (NYSE:Dow) and (NYSE:DuPont's) proposed merger.
Approval is subject to divestiture of major parts of DuPont's global pesticide business.
Commissioner Margrethe Vestager said the U.S. chemical firms had addressed pesticide price competition concerns.
They also agreed to sell part of Dow’s petrochemical business to preserve competition.

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Charts suggest dollar may face critical point this week

Investing.com – Technical charts for the dollar suggest the currency could face a critical juncture as soon as this week.
The 20-year weekly chart shows a steeper upward trend for the dollar from early 2014.
If this uptrend breaks down, the dollar will very likely have signaled its top within its longer, 15-year super cycle.
Charts of dollar movements over the past several months indicate the U.S. currency is at a short-term inflection point.
It may be forming a double bottom pattern from which it will bounce off.
The alternative would be for it to break down creating a failed trading cycle.
We are either on day 35 of the current trading cycle or on day 2 of a new trading cycle.
This suggests the direction the dollar takes will be decided rather soon.

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U.S. futures point to triple-digit drop in Dow after health-care fail

Investing.com - Wall Street stock futures pointed to a lower open on Monday as investors fretted that U.S. President Donald Trump’s failure to gather enough support to repeal and replace health care was an indicator of troubles he may have in the future with other promised fiscal policies, such as tax reform or infrastructure spending.

The blue-chip Dow futures fell 129 points, or 0.63%, by 6:57AM ET (10:57GMT), the S&P 500 futures lost 19 points, or 0.80%, while the tech-heavy Nasdaq 100 futures traded down 37 points, or 0.69%.

In the risk-off trade environment, safe-haven assets such as the Japanese yen and precious metals were in demand, as the U.S. dollar took a hit.

The dollar against a basket of currencies on Monday after Trump's failure to push through a healthcare reform bill prompted investors to question the extent to which he can deliver on growth policies that have been priced in since his election.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.64% at 98.95 by 6:59AM ET (10:59GMT). It fell to an overnight low of 98.87, a level not seen since November 11.

The index had risen to a 14-year high near 104.00 early in January when expectations for significant stimulus under the Trump presidency were at their peak.

Against the yen, the dollar fell more than 1% to 110.12 at one point, its weakest since November 18. It last traded at 110.34, down around 0.9% for the day (USD/JPY).

Meanwhile, the euro rose to 1.0874 against the greenback, its highest since December 8, and was last at around 1.0865 (EUR/USD).

Gold prices rallied to a four-week high on Monday, as concern that markets had overpriced the impact of Trump fiscal policies pushed investors toward safe haven assets.

Comex gold futures reached a session peak of $1,259.20 a troy ounce, the highest since February 27. It last traded at $1,256.75, up $8.25, or 0.66%.

Monday’s session lacked any major economic reports stateside, but market players will still gauge the pulse of the Federal Reserve (Fed) in its intentions to gradually remove accommodative policy.

Both Chicago Fed president Charles Evans and Dallas Fed chief Robert Kaplan were scheduled for separate appearances at 1:15PM (17:15GMT) and 6:30PM (22:45GMT), respectively.

Meanwhile, oil prices started the week lower on Monday, holding near the weakest level since the end of November as uncertainty over whether an OPEC-led production cut will be extended beyond June fed concerns about a global supply glut.

A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months once again in April, it said in a statement on Sunday.

U.S. crude futures fell 0.75% to $47.61 by 7:01AM ET (11:01GMT), while Brent oil lost 0.51% to $50.66.

Elsewhere, European stocks were under pressure in mid-morning trade, with Germany's DAX down 1%, while London's FTSE100 dipped 0.9%.

Earlier, in Asia, markets ended in negative territory, with the Shanghai Composite in China closing down around 0.1%, while Japan's Nikkei sank 1.5% to its lowest levels since early February.

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U.S. stock index futures lower as Trump healthcare deal flops

Investing.com - U.S. stock index futures were lower Monday as the House pulled a healthcare bill vote on a lack of support.
That raised doubts about Trump's ability to push ahead with his pro-growth agenda.
The Dow futures was off 0.69% at 06:45 ET. The DJI shed 0.29% on Friday.
The S&P 500 futures shed 0.86%. The tech-heavy Nasdaq 100 futures lost 0.78%.
The dollar index fell below 99 to levels last seen in November.
Oil was lower as Baker Hughes rig count rose amid doubts about extension of output cuts.
Healthcare stocks are likely to be in focus after Trump's setback.
Banks were lower pre-market as U.S. Treasury yields retreated.

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Sri Lanka stocks lower at close of trade; CSE All-Share down 0.36%

Investing.com – Sri Lanka stocks were lower after the close on Monday, as losses in the Information Technology, Land&Property and Diversified Holdings sectors led shares lower.

At the close in Colombo, the CSE All-Share declined 0.36% to hit a new 52-week low.

The best performers of the session on the CSE All-Share were Kelsey Developments PLC (CM:KDL), which rose 20.10% or 7.70 points to trade at 46.00 at the close. Meanwhile, Adam Investments Ltd (CM:ADAM) added 20.00% or 0.100 points to end at 0.600 and Ceylon Printers PLC (CM:CPRT) was up 15.80% or 7.90 points to 57.90 in late trade.

The worst performers of the session were PC Pharma PLC (CM:PCPH), which fell 50.00% or 0.2000 points to trade at 0.2000 at the close. SMB Leasing PLC (CM:SEMB) declined 20.00% or 0.1000 points to end at 0.4000 and Serendib Land PLC (CM:SLND) was down 18.67% or 310.20 points to 1351.00.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 93 to 74 and 63 ended unchanged.

Shares in PC Pharma PLC (CM:PCPH) fell to all time lows; losing 50.00% or 0.2000 to 0.2000. Shares in SMB Leasing PLC (CM:SEMB) fell to 5-year lows; falling 20.00% or 0.1000 to 0.4000.

Crude oil for May delivery was down 0.75% or 0.36 to $47.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.51% or 0.26 to hit $50.66 a barrel, while the April Gold Futures contract rose 0.70% or 8.75 to trade at $1257.25 a troy ounce.

GBP/LKR was up 0.89% to 191.295, while USD/LKR rose 0.15% to 151.990.

The US Dollar Index Futures was down 0.65% at 98.94.

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Indonesia stocks lower at close of trade; IDX Composite Index down 0.47%

Investing.com – Indonesia stocks were lower after the close on Monday, as losses in the Financials, Trade and Property sectors led shares lower.

At the close in Jakarta, the IDX Composite Index declined 0.47%.

The best performers of the session on the IDX Composite Index were Tirta Mahakam Resources Tbk (JK:TIRT), which rose 24.37% or 58 points to trade at 296 at the close. Meanwhile, Mahaka Radio Integra Tbk PT (JK:MARI) added 22.00% or 220 points to end at 1220 and Asiaplast Industries Tbk (JK:APLI) was up 18.55% or 23 points to 147 in late trade.

The worst performers of the session were Atlas Resources Tbk (JK:ARII), which fell 23.35% or 92 points to trade at 302 at the close. Fks Multi Agro Tbk (JK:FISH) declined 20.90% or 700 points to end at 2650 and Asuransi Jasa Tania Tbk (JK:ASJT) was down 11.29% or 56.00 points to 440.00.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 205 to 114 and 105 ended unchanged.

Shares in Tirta Mahakam Resources Tbk (JK:TIRT) rose to all time highs; gaining 24.37% or 58 to 296. Shares in Atlas Resources Tbk (JK:ARII) fell to 52-week lows; falling 23.35% or 92 to 302. Shares in Mahaka Radio Integra Tbk PT (JK:MARI) rose to all time highs; rising 22.00% or 220 to 1220.

Crude oil for May delivery was down 0.88% or 0.42 to $47.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in June fell 0.67% or 0.34 to hit $50.58 a barrel, while the April Gold Futures contract rose 0.72% or 9.05 to trade at $1257.55 a troy ounce.

USD/IDR was up 0.02% to 13303.2, while AUD/IDR fell 0.31% to 10118.35.

The US Dollar Index Futures was down 0.67% at 98.92.

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