MARKET REVIEW

Russia stocks higher at close of trade; MOEX Russia up 0.02%

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

At the close in Moscow, the MOEX Russia rose 0.02%.

The best performers of the session on the MOEX Russia were Rosseti ao (MCX:RSTI), which rose 5.56% or 0.0495 points to trade at 0.9400 at the close. Meanwhile, X5 Retail Group NV (MCX:FIVEDR) added 2.97% or 52.5 points to end at 1822.5 and SG mechel (MCX:MTLR) was up 2.96% or 2.41 points to 83.81 in late trade.

The worst performers of the session were ALROSA ao (MCX:ALRS), which fell 2.49% or 2.550 points to trade at 100.000 at the close. Rostelecom (MCX:RTKM) declined 1.86% or 1.37 points to end at 72.13 and United Company Rusal Plc (MCX:RUAL) was down 1.77% or 0.560 points to 31.100.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 113 to 97 and 25 ended unchanged.

Shares in Rosseti ao (MCX:RSTI) rose to 52-week highs; gaining 5.56% or 0.0495 to 0.9400.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 3.08% to 22.050.

Gold Futures for February delivery was down 0.16% or 2.05 to $1280.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 3.07% or 1.66 to hit $52.38 a barrel, while the March Brent oil contract fell 2.84% or 1.78 to trade at $60.96 a barrel.

USD/RUB was up 0.06% to 66.4271, while EUR/RUB rose 0.01% to 75.4533.

The US Dollar Index Futures was down 0.02% at 95.972.

EBay Soars on Activist Interest Midday

Investing.com - Shares of eBay jumped sharply in midday trading as stakes from activist investors were revealed.

Elliott Management announced a stake of more than 4% in the online retail and auction company, while Starboard Value also has a stake of less than 4%, according to The Wall Street Journal.

EBay (NASDAQ:EBAY) stock gained about 8%.

Among the corporate moves recommended by Elliott are the sales of ticket broker StubHub and eBay’s classified’s business.

“(W)e appreciate Elliott's recognition of the strength and power of eBay's business and will carefully review and evaluate Elliott's proposals,” the company said in a statement. “We look forward to the opportunity to engage with Elliott, as we do with all shareholders."

The company is set to report earnings on Jan. 29 after the bell.

Oil Prices Slide as Global Growth Concerns Spark Flight from Risk

Investing.com - Oil prices slumped on Tuesday as U.S. traders returned from the Martin Luther King Jr. Day holiday to face a gloomy outlook for the world economy, sparking a flight from risky assets.

New York-traded West Texas Intermediate crude futures tumbled $1.79, or 3.31%, at $52.25 a barrel by 10:43 AM ET (15:43 GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., slid $1.88, or 3.00%, to $60.86.

The World Economic Forum (WEF) in Davos, Switzerland, officially kicked off on Tuesday where political and business leaders warned of escalating risks to global growth.

The International Monetary Fund released its updated World Economic Outlook on Monday on the eve of the event and cut its forecasts for global growth.

“After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising,” IMF Managing Director Christine Lagarde told reporters.

The IMF explained that a bigger-than-expected slowdown in China and the euro zone had forced it to cut its outlook for this year and 2020 and warned that a failure to resolve trade tensions could further destabilize a slowing global economy.

The IMF’s downgrade on Monday came just hours after China reported its slowest quarterly economic growth since the financial crisis and its weakest annual expansion since 1990.

“Slowing manufacturing activity in China is likely weighing on demand," said Singapore-based tanker brokerage Eastport.

Adding to worries over the state of the world’s second biggest economy and the largest importer of oil, the National Development and Reform Commission (NDRC), China's top economic planner, warned on Tuesday that economic pressure will hit the job market.

“From the viewpoint of ‘changes’, the external environment is complex and austere,” said Meng Wei, spokeswoman at the NDRC. “Within the changes, there is something to worry about, and there is downward pressure on the economy. To a certain extent, the pressure will be passed onto jobs.”

In other energy trading, gasoline futures sank 3.69% to $1.3992 a gallon by 10:48 AM ET (15:48 GMT), while heating oil lost 2.26% to $1.8727 a gallon.

Lastly, natural gas futures tumbled 9.56% to $3.149 per million British thermal unit.

-- Reuters contributed to this report.

Netflix Falls 3%

Investing.com - Netflix (NASDAQ:NFLX) fell by 3.03% to trade at $328.84 by 09:53 (14:53 GMT) on Tuesday on the NASDAQ exchange.

The volume of Netflix shares traded since the start of the session was 2.83M. Netflix has traded in a range of $328.77 to $336.87 on the day.

The stock has traded at $358.8500 at its highest and $328.5200 at its lowest during the past seven days.

NVIDIA Falls 3%

Investing.com - NVIDIA (NASDAQ:NVDA) fell by 3.09% to trade at $152.08 by 09:46 (14:46 GMT) on Tuesday on the NASDAQ exchange.

The volume of NVIDIA shares traded since the start of the session was 2.09M. NVIDIA has traded in a range of $151.80 to $156.18 on the day.

The stock has traded at $157.9800 at its highest and $143.2100 at its lowest during the past seven days.

Altria Falls 3%

Investing.com - Altria (NYSE:MO) fell by 3.31% to trade at $46.71 by 09:34 (14:34 GMT) on Tuesday on the NYSE exchange.

The volume of Altria shares traded since the start of the session was 1.07M. Altria has traded in a range of $46.55 to $47.49 on the day.

The stock has traded at $49.4500 at its highest and $46.5600 at its lowest during the past seven days.

Stocks - Wall Street Weaker on Global Growth Concerns

Investing.com - Stocks started the holiday-shortened week lower Tuesday as concerns about global growth weighed on Wall Street.

The Dow fell 0.61% at 9:32 AM ET (14:32 GMT), while the broader S&P 500 lost 61%. The tech-heavy Nasdaq Composite dropped 0.73%.

The IMF cut its forecast for global growth on Monday when the U.S. markets were closed in observance of Martin Luther King, Jr. Day.

The IMF predicted the global economy will grow at 3.5% in 2019 and 3.6% in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts.

The downgrades reflected weakness in Europe and were on the same day China released data that confirmed its slowest growth rate in 28 years.

A survey by PwC offered investors little hope after it showed 29% of nearly 1,400 CEOs believed global economic growth will decline over the next 12 months, the highest percentage since 2012.

Investors will also be looking for headlines from the sidelines of the World Economic Forum in Davos, Switzerland about the state of the global economy.

Among individual stocks, Johnson & Johnson (NYSE:JNJ) stock fell 2.4% after the company forecast worse-than-expected revenue for 2019.

Tesla (NASDAQ:TSLA) rose 1.2% after its Model 3 received European approval ahead of an expected release date in the region next month.

Chip stocks were on the back foot in the wake of China’s slow growth numbers, with Advanced Micro Devices (NASDAQ:AMD) falling 1.7% and Micron (NASDAQ:MU) losing 2.8%.

And Snap (NYSE:SNAP) stock dipped 0.7% after The Wall Street Journal reported that the company pushed out two senior executives following an investigation that found that one of them had allegedly engaged in an inappropriate relationship with an outside contractor.

-- Reuters contributed to this report.

Stocks - J&J, Mastercard, Halliburton Slide in Premarket, Tesla Rises

Investing.com - Stocks in focus in premarket trade Tuesday:

• Johnson & Johnson (NYSE:JNJ) stock fell 1.60% by 8:06 AM ET (13:06 GMT) after the company forecast worse-than-expected revenue for 2019.

• Tesla (NASDAQ:TSLA) stock rose 1.02% after its Model 3 received European approval ahead of an expected release date in the region next month. Separately, the company said it had received quotes from Tianjin Lishen to supply batteries for its new Shanghai electric car factory although no deal had been signed.

• Travelers (NYSE:TRV) stock edged forward 0.03% after the company reported mixed results for the fourth quarter.

• Halliburton (NYSE:HAL) stock lost 0.78% as quarterly revenue from North America declined even though fourth-quarter earnings and revenue topped analysts’ estimates.

• Mastercard (NYSE:MA) stock fell 1.68% after the European Commission fined the company nearly $650 million on the grounds that it had artificially raised the costs of card payments by limiting the possibility for merchants to benefit from better conditions offered by banks elsewhere in the European Union.

• Stanley Black & Decker (NYSE:SWK) stock sank 6.78% after the company forecast adjusted earnings per share for 2019 that missed consensus. Its fourth-quarter results beat on the top and bottom lines.

• FedEx (NYSE:FDX) stock dropped 0.51% after the company announced that it had begun offering buyouts to its employees in the U.S. and expects the program to cost between $450 million and $575 million before taxes.

• Snap (NYSE:SNAP) stock slumped 2.10% after The Wall Street Journal reported that the company pushed out two senior executives following an investigation that found that one of them had allegedly engaged in an inappropriate relationship with an outside contractor.

• Tilray (NASDAQ:TLRY) stock traded up 1.94% after the company announced its acquisition of Natura Naturals Holdings in a deal valued at up to C$70 million ($52.5 million).

NN (NASDAQ:NNBR) stock could see upside in the regular session after an SEC filing showed that Legion Partners Asset Management had a 6.53% stake in the company.

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.03%

Investing.com – Saudi Arabia stocks were lower after the close on Tuesday, as losses in the Agriculture&Food, Cement and Insurance sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share lost 0.03%.

The best performers of the session on the Tadawul All Share were Alujain Corporation (SE:2170), which rose 9.95% or 2.12 points to trade at 23.42 at the close. Meanwhile, Saudi Steel Pipe Company (SE:1320) added 8.40% or 1.52 points to end at 19.62 and Saudi Industrial Services Co. (SE:2190) was up 3.78% or 0.42 points to 11.54 in late trade.

The worst performers of the session were Saudi Cable Company (SE:2110), which fell 3.13% or 1.40 points to trade at 43.30 at the close. United Int Transportation Company (SE:4260) declined 2.42% or 0.70 points to end at 28.20 and Mobile Telecommunications Company (SE:7030) was down 1.90% or 0.18 points to 9.30.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 100 to 75 and 16 ended unchanged.

Crude oil for March delivery was down 1.52% or 0.82 to $53.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 1.37% or 0.86 to hit $61.88 a barrel, while the February Gold Futures contract fell 0.03% or 0.35 to trade at $1282.25 a troy ounce.

EUR/SAR was down 0.09% to 4.2581, while USD/SAR rose 0.00% to 3.7505.

The US Dollar Index Futures was up 0.07% at 96.058.

MarketPulse Europe: UBS Earnings Miss Drags Financial Sector Lower

Investing.com - The European financial sector was on the backfoot in midday trade on Tuesday, as sentiment was dampened after fourth-quarter earnings from UBS (SIX:UBSG) fell short of expectations.

The Swiss bank generated $862 million in fourth-quarter pre-tax earnings, missing analyst expectations for $985 million in its own consensus report.

Results were hit by an outflow of funds in its flagship wealth management business and a slide in investment bank earnings.

UBS said client activity in the first quarter of 2019 would be affected by a "lack of progress in resolving geopolitical tensions, rising protectionism and trade disputes along with increased volatility."

Shares were down by more than 4% in Zurich by 6:40AM ET (11:40 GMT).

The worrying news also had an impact on shares of rivals Credit Suisse (SIX:CSGN) and Julius Baer (SIX:BAER), which fell 1% and 3% respectively.

The pan-European Stoxx 600 Banks index was down by around 1.3%.

Some of the notable decliners across the continent include Germany's Deutsche Bank (DE:DBKGn), France's BNP Paribas (PA:BNPP) and Italy's Unicredit (MI:CRDI), which were down 3.7%, 2.4% and 2.3% respectively.

-- Reuters contributed to this report

India stocks lower at close of trade; Nifty 50 down 0.36%

Investing.com – India stocks were lower after the close on Tuesday, as losses in the Metals, Auto and Green Energy sectors led shares lower.

At the close in NSE, the Nifty 50 fell 0.36%, while the BSE Sensex 30 index lost 0.37%.

The best performers of the session on the Nifty 50 were Sun Pharmaceutical Industries Ltd. (NS:SUN), which rose 4.80% or 19.10 points to trade at 418.95 at the close. Meanwhile, Wipro Ltd (NS:WIPR) added 3.09% or 10.45 points to end at 346.50 and Titan Company Ltd (NS:TITN) was up 1.99% or 19.15 points to 982.65 in late trade.

The worst performers of the session were Vedanta Ltd (NS:VDAN), which fell 3.65% or 7.25 points to trade at 191.50 at the close. Tata Steel Ltd (NS:TISC) declined 3.26% or 15.40 points to end at 456.55 and Mahindra&Mahindra Ltd. (NS:MAHM) was down 3.09% or 22.55 points to 708.50.

The top performers on the BSE Sensex 30 were Sun Pharmaceutical Industries Ltd. (BO:SUN) which rose 4.95% to 418.05, Kotak Mahindra Bank Ltd. (BO:KTKM) which was up 1.92% to settle at 1291.60 and Bajaj Finance Ltd (BO:BJFN) which gained 1.07% to close at 2616.65.

The worst performers were Vedanta Ltd (BO:VDAN) which was down 3.50% to 191.45 in late trade, Tata Steel Ltd (BO:TISC) which lost 3.13% to settle at 456.80 and Mahindra&Mahindra Ltd. (BO:MAHM) which was down 3.08% to 708.05 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 1110 to 479 and 63 ended unchanged; on the Bombay Stock Exchange, 1560 fell and 908 advanced, while 162 ended unchanged.

Shares in Wipro Ltd (NS:WIPR) rose to 5-year highs; up 3.09% or 10.45 to 346.50. Shares in Tata Steel Ltd (NS:TISC) fell to 52-week lows; losing 3.26% or 15.40 to 456.55. Shares in Tata Steel Ltd (BO:TISC) fell to 52-week lows; losing 3.13% or 14.75 to 456.80. Shares in Mahindra&Mahindra Ltd. (BO:MAHM) fell to 52-week lows; falling 3.08% or 22.50 to 708.05.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 0.90% to 17.9850.

Gold Futures for February delivery was up 0.08% or 1.05 to $1283.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 1.55% or 0.84 to hit $53.20 a barrel, while the March Brent oil contract fell 1.63% or 1.02 to trade at $61.72 a barrel.

USD/INR was up 0.21% to 71.345, while EUR/INR rose 0.22% to 81.0660.

The US Dollar Index Futures was up 0.01% at 95.998.

German ZEW Economic Sentiment Improves Unexpectedly in January

Investing.com - German economic sentiment improved unexpectedly in January, but an index of current conditions tumbled to a four-year low, underlining concerns over the health of the euro zone's largest economy.

The ZEW Centre for Economic Research said that its index of German economic sentiment rose to -15.0 points this month from a reading of -17.5 in December.

Analysts had expected the index to fall to -18.4 points.

However, the Current Conditions Index dropped to 27.6 from 45.3, much worse than expectations for a reading of 43.5.

On the index, a level above 0.0 indicates optimism, a level below 0.0 indicates pessimism.

Recent data showed that the German economy only narrowly avoided slipping into recession at the end of last year, amid global trade conflicts, messy Brexit negotiations and the after-effects of the diesel emissions scandal on its auto sector.

China stocks lower at close of trade; Shanghai Composite down 1.18%

Investing.com – China stocks were lower after the close on Tuesday, as losses in the Technology Hardware&Equipment, Technology and Software&Computer Services sectors led shares lower.

At the close in Shanghai, the Shanghai Composite lost 1.18%, while the SZSE Component index declined 1.44%.

The best performers of the session on the Shanghai Composite were Citic Guoan Wine Co Ltd (SS:600084), which rose 10.15% or 0.330 points to trade at 3.580 at the close. Meanwhile, Tianjin Tianhai Investment Co Ltd A (SS:600751) added 10.14% or 0.290 points to end at 3.150 and Zhejiang Huazheng New Material Co Ltd (SS:603186) was up 10.03% or 1.81 points to 19.86 in late trade.

The worst performers of the session were Qingdao Topscomm Communication Inc (SS:603421), which fell 6.98% or 1.820 points to trade at 24.240 at the close. Tonghua Dongbao Pharmaceutical Co Ltd (SS:600867) declined 6.19% or 0.820 points to end at 12.420 and Guangdong Rongtai Industry Co Ltd (SS:600589) was down 5.70% or 0.280 points to 4.630.

The top performers on the SZSE Component were Beihai Yinhe Industry Investment Co Ltd (SZ:000806) which rose 10.02% to 4.94, Zhejiang Transfar Co Ltd (SZ:002010) which was up 8.42% to settle at 7.08 and Shenzhen Fenda Technology Co Ltd (SZ:002681) which gained 3.46% to close at 4.48.

The worst performers were Zhejiang Jingsheng Mech Electric (SZ:300316) which was down 8.49% to 9.38 in late trade, Shaanxi J&R Fire Protection Co Ltd (SZ:300116) which lost 7.14% to settle at 1.69 and AVIC Electromechanical Systems Co Ltd (SZ:002013) which was down 5.83% to 6.95 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 1174 to 258 and 48 ended unchanged.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 21.02 a new 3-months low.

Gold Futures for February delivery was down 0.22% or 2.85 to $1279.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 0.59% or 0.32 to hit $53.72 a barrel, while the March Brent oil contract fell 0.70% or 0.44 to trade at $62.30 a barrel.

USD/CNY was up 0.20% to 6.8064, while EUR/CNY rose 0.09% to 7.7263.

The US Dollar Index Futures was up 0.13% at 96.120.

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

Investing.com – Taiwan stocks were higher after the close on Tuesday, as gains in the Auto, Construction and Semiconductor sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 0.05% to hit a new 1-month high.

The best performers of the session on the Taiwan Weighted were Green Energy Technology Inc (TW:3519), which rose 9.88% or 0.41 points to trade at 4.56 at the close. Meanwhile, Fortune Electric Co Ltd (TW:1519) added 7.25% or 1.40 points to end at 20.70 and Tri Ocean Textile Co Ltd (TW:1472) was up 7.14% or 2.10 points to 31.50 in late trade.

The worst performers of the session were Arcadyan Technology Corp (TW:3596), which fell 7.89% or 6.90 points to trade at 80.50 at the close. Mercuries Data Systems Ltd (TW:2427) declined 7.83% or 0.85 points to end at 10.00 and Gold Circuit Electronics Ltd (TW:2368) was down 5.76% or 0.80 points to 13.10.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 509 to 290 and 111 ended unchanged.

Crude oil for March delivery was down 0.85% or 0.46 to $53.58 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 0.99% or 0.62 to hit $62.12 a barrel, while the February Gold Futures contract fell 0.31% or 3.95 to trade at $1278.65 a troy ounce.

USD/TWD was up 0.05% to 30.901, while TWD/CNY rose 0.25% to 0.2203.

The US Dollar Index Futures was up 0.08% at 96.067.

Oil Prices Slide 1% on Global Economic Growth Concerns

Investing.com - Oil prices slid about 1% on Tuesday in Asia as global growth worries continued to stoke concerns over future fuel demand.

International Brent Oil Futures were at $62.07 per barrel at 1:31 AM ET (06:31 GMT), down 1.1%.

U.S. Crude Oil WTI futures were at $53.55 per barrel, down 0.9%.

Weakening global economic data were cited as a headwind for oil prices. On Monday, China reported that its 2018 economic growth dropped to its slowest pace in nearly three decades, although analysts later pointed to the fact that the slowdown was in line with expectations and simply reflected a normal part of the economic cycle.

"Slowing manufacturing activity in China is likely weighing on demand," said Singapore-based tanker brokerage Eastport in a Reuters report.

Just hours after the release of the GDP data, the International Monetary Fund (IMF) announced it is cutting its 2019 and 2020 global growth forecasts.

The IMF now projects a 3.5% growth rate worldwide for 2019 and 3.6% for 2020. These are 0.2 and 0.1% points below its last forecasts in October.

The fund cited China-U.S. trade disputes, a renewed tightening of financial conditions, and the risks of a “no deal” Brexit and a deeper-than-anticipated slowdown in China as the reasons for the downgrade.

Meanwhile, the National Development and Reform Commission, China's top economic planner, warned on Tuesday that economic pressure will hit the job market.

"From the viewpoint of 'changes', the external environment is complex and austere," said Meng Wei, spokeswoman at the NDRC.

"Within the changes, there is something to worry about, and there is downward pressure on the economy. To a certain extent, the pressure will be passed onto jobs," Meng added.

Crypto Prices Little Changed; Bank of England Adviser Criticizes Digital Assets

Investing.com - Bitcoin and other major digital coin prices were little changed on Tuesday in Asia, marking very small losses following a setback over the weekend. Reports that the senior adviser to Bank of England commented that cryptocurrencies fail fundamental financial tests generated some attention.

Bitcoin lost 0.12% to $3,538.5 by 11:30 PM ET (04:30 GMT).

Ethereum edged up 0.1% to $116.2, XRP was down 0.5% to $ 0.31545, while Litecoin slipped 0.2% to $30.675.

In an interview with Bloomberg, Huw van Steenis, senior adviser to Bank of England Governor Mark Carney, said digital currencies such as Bitcoin are not high on his list of concerns. Van Steenis is heading a review of the future of finance for the Bank.

“I’m not so worried about cryptocurrencies. They fail the basic tests of financial services. They’re not a great unit of exchange, they don’t hold value, and they’re slower,” he said, when asked if crypto could be a threat to economic stability.

The British government has set up a 'Cryptoassets Taskforce' to help its work on developing a legal framework for cryptocurrencies.

In other news, Wyoming could be the first U.S. state to provide clear banking permissions for cryptocurrencies and digital assets. Last Friday, the state legislators introduced a bill to classify digital assets as property within existing laws.

“The legislation, all taken together, make Wyoming the Silicon Valley of Blockchain and Cryptocurrency of the nation and arguably—the world,” said Senator Ogden Driskill of Wyoming 1st District.

U.S. Dollar Steadies as IMF’s New Warning Supports Safe-Haven Demand

Investing.com - The U.S. dollar steadied on Tuesday in Asia after the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts overnight.

The IMF now projects a 3.5% growth rate worldwide for 2019 and 3.6% for 2020. These are 0.2 and 0.1% points below its last forecasts in October.

The fund cited China-U.S. trade disputes, a renewed tightening of financial conditions, and the risks of a “no deal” Brexit and a deeper-than-anticipated slowdown in China as the reasons for the downgrade.

The news came just hours after China reported its slowest quarterly economic growth since the financial crisis on Monday.

China's economy grew 6.4% in the fourth quarter of 2018 from a year earlier, as expected, official data from the National Bureau of Statistics showed on Monday. The growth was slower than the previous quarter's 6.5% growth.

Full-year growth for 2018 came in at 6.6%, also in line with expectations.

The U.S. dollar index edged up 0.1% at 96.058 on Tuesday following the news.

Traders are also awaiting further news on the U.S.-China trade development, as Chinese Vice Premier Liu He is set to visit the U.S. on Jan. 30 and 31 for a new round of trade talks.

The Japanese yen, another safe-haven currency, also rose on Tuesday as the USD/JPY pair lost 0.2% to 109.43.

Meanwhile, the Chinese yuan fell to 6.8022 against the dollar, its lowest in nearly two weeks, as the People's Bank of China set the yuan reference rate at 6.7854 vs the previous day's fix of 6.7774.

Analysts at Morgan Stanley (NYSE:MS) said in a Reuters report last week that they had turned bullish on the yuan, as they believed the People's Bank of China (PBOC) would refrain from intervening during trade talks.

Companies would also sell more dollars to buy yuan ahead of the upcoming Lunar New Year payments, the analysts added.

Elsewhere, the AUD/USD pair and the NZD/USD pair slipped 0.3% and 0.1% respectively.

Asian Stocks Fall After IMF Cuts Global Growth Forecast

Investing.com - Asian stocks fell in morning trade on Tuesday after the International Monetary Fund (IMF) cut its global growth forecast to the weakest in three years.

China’s Shanghai Composite and the Shenzhen Component were down 0.7% and 0.9% 9:46 PM ET (02:46 GMT). Hong Kong’s Hang Seng Index lost 1.1%.

Tencent Holdings Ltd (HK:0700) was in focus on Tuesday as it was again absent from the list of the latest video games titles approved by Chinese authorities.

The company’s domestic rival NetEase Inc (NASDAQ:NTES) was also absent from the list.

The list was the third since December 2018. China previously approved a batch of 84 new video games earlier in January.

Japan’s Nikkei 225 and South Korea’s KOSPI both fell 0.7%.

Down under, Australia’s ASX 200 was also down 0.7%.

Reports that the IMF forecasted the world economy would grow at the weakest pace in three years in 2019 were cited as the catalyst for the selling in equities. The Fund cited multiple threats as the reason for the downgrade, including China-U.S. trade disputes, a renewed tightening of financial conditions, a “no deal” Brexit and a deeper-than-anticipated slowdown in China.

"A range of triggers beyond escalating trade tensions could spark a further deterioration in risk sentiment with adverse growth implications, especially given high levels of public and private debt," the Fund said.

The IMF now projects a 3.5% growth rate worldwide for 2019 and 3.6% for 2020. These are 0.2 and 0.1% points below its last forecasts in October.

In other news, U.K. Prime Minister Theresa May refused to rule out a delay to the March 29 Brexit exit date.

Meanwhile, the main opposition Labour party called for a vote that could pave the way to a second referendum, according to reports.

Mexico stocks lower at close of trade; S&P/BMV IPC down 0.68%

Investing.com – Mexico stocks were lower after the close on Monday, as losses in the Financial Services, Consumer Staples and Materials sectors led shares lower.

At the close in Mexico, the S&P/BMV IPC fell 0.68%.

The best performers of the session on the S&P/BMV IPC were BanRegio Grupo Financiero SAB de CV (MX:RA), which rose 4.49% or 4.31 points to trade at 100.40 at the close. Meanwhile, Mexichem , S.A.B. De C.V. (MX:MEXCHEM) added 2.33% or 1.100 points to end at 48.370 and Megacable Holdings, S.A.B. De C.V. (MX:MEGACPO) was up 1.69% or 1.470 points to 88.460 in late trade.

The worst performers of the session were PINFRA SAB De CV (MX:PINFRA), which fell 2.86% or 5.51 points to trade at 186.86 at the close. Gruma SAB de CV (MX:GRUMAB) declined 2.63% or 6.05 points to end at 224.10 and Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) was down 2.59% or 4.66 points to 175.20.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 81 to 76 and 18 ended unchanged.

Gold Futures for February delivery was down 0.23% or 2.90 to $1279.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.06% or 0.03 to hit $54.22 a barrel, while the March Brent oil contract rose 0.21% or 0.13 to trade at $62.83 a barrel.

USD/MXN was up 0.47% to 19.1665, while EUR/MXN rose 0.47% to 21.7914.

The US Dollar Index Futures was down 0.00% at 95.990.

Canada stocks higher at close of trade; S&P/TSX Composite up 0.07%

Investing.com – Canada stocks were higher after the close on Monday, as gains in the Industrials, Materials and Clean Technology sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite gained 0.07% to hit a new 1-month high.

The best performers of the session on the S&P/TSX Composite were Aphria Inc (TO:APHA), which rose 11.59% or 1.030 points to trade at 9.920 at the close. Meanwhile, Turquoise Hill Resources Ltd. (TO:TRQ) added 4.63% or 0.100 points to end at 2.260 and Cronos Group Inc (TO:CRON) was up 4.36% or 0.8600 points to 20.5900 in late trade.

The worst performers of the session were Crescent Point Energy Corp . (TO:CPG), which fell 4.94% or 0.23 points to trade at 4.43 at the close. Pan American Silver Corp (TO:PAAS) declined 3.62% or 0.68 points to end at 18.13 and BRP Inc (TO:DOO) was down 3.56% or 1.44 points to 39.00.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 592 to 465 and 119 ended unchanged.

Shares in Cronos Group Inc (TO:CRON) rose to all time highs; rising 4.36% or 0.8600 to 20.5900.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 3.85% to 17.54.

Gold Futures for February delivery was down 0.23% or 3.00 to $1279.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.06% or 0.03 to hit $54.22 a barrel, while the March Brent oil contract rose 0.18% or 0.11 to trade at $62.81 a barrel.

CAD/USD was down 0.34% to 0.7521, while CAD/EUR fell 0.34% to 0.6614.

The US Dollar Index Futures was down 0.00% at 95.990.

Brazil stocks lower at close of trade; Bovespa down 0.12%

Investing.com – Brazil stocks were lower after the close on Monday, as losses in the Financials, Consumption and Real Estate sectors led shares lower.

At the close in Sao Paulo, the Bovespa fell 0.12%.

The best performers of the session on the Bovespa were Localiza Rent a Car SA (SA:RENT3), which rose 3.59% or 1.12 points to trade at 32.30 at the close. Meanwhile, Suzano Papel e Celulose SA (SA:SUZB3) added 2.77% or 1.23 points to end at 45.60 and Cia de Saneamento Basico do Estado (SA:SBSP3) was up 2.07% or 0.84 points to 41.51 in late trade.

The worst performers of the session were Estacio Participacoes SA (SA:ESTC3), which fell 5.12% or 1.55 points to trade at 28.75 at the close. Magazine Luiza SA (SA:MGLU3) declined 4.13% or 7.20 points to end at 167.00 and B2W Cia Digital (SA:BTOW3) was down 3.26% or 1.50 points to 44.50.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 227 to 193 and 36 ended unchanged.

Shares in Localiza Rent a Car SA (SA:RENT3) rose to all time highs; gaining 3.59% or 1.12 to 32.30.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 3.99% to 30.06 a new 6-months low.

Gold Futures for February delivery was down 0.24% or 3.10 to $1279.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.06% or 0.03 to hit $54.22 a barrel, while the March US coffee C contract rose 2.98% or 3.05 to trade at $105.45 .

USD/BRL was up 0.13% to 3.7550, while EUR/BRL rose 0.14% to 4.2697.

The US Dollar Index Futures was down 0.00% at 95.990.

Colombia stocks higher at close of trade; COLCAP up 0.18%

Investing.com – Colombia stocks were higher after the close on Monday, as gains in the Investment, Public Services and Industrials sectors led shares higher.

At the close in Colombia, the COLCAP gained 0.18% to hit a new 1-month high.

The best performers of the session on the COLCAP were Cemex Latam Holdings SA (CN:CLH), which rose 2.68% or 120.0 points to trade at 4600.0 at the close. Meanwhile, Banco De Bogota SA (CN:BBO) added 2.18% or 1240.0 points to end at 58000.0 and Pfgrupoarg (CN:ARG_p) was up 1.86% or 260.0 points to 14240.0 in late trade.

The worst performers of the session were Avianca Holdings Pf (CN:AVT_p), which fell 1.66% or 30.0 points to trade at 1775.0 at the close. Banco Davivienda Pf (CN:DVI_p) declined 1.17% or 400.0 points to end at 33900.0 and Canacol Energy Ltd (CN:CNE) was down 0.79% or 80.0 points to 10020.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 13 to 7 and 3 ended unchanged.

US coffee C for March delivery was up 2.98% or 3.05 to $105.45 . Elsewhere in commodities trading, US cocoa for delivery in March fell 1.22% or 28.50 to hit $2306.50 , while the February Gold Futures contract fell 0.24% or 3.10 to trade at $1279.50 a troy ounce.

USD/COP was up 0.15% to 3126.50, while BRL/COP rose 0.02% to 832.84.

The US Dollar Index Futures was down 0.00% at 95.990.

Spain stocks lower at close of trade; IBEX 35 down 0.17%

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

At the close in Madrid, the IBEX 35 lost 0.17%.

The best performers of the session on the IBEX 35 were Tecnicas Reunidas (MC:TRE), which rose 3.02% or 0.670 points to trade at 22.890 at the close. Meanwhile, Mediaset ESP (MC:TL5) added 2.54% or 0.146 points to end at 5.900 and Viscofan (MC:VIS) was up 2.48% or 1.180 points to 48.700 in late trade.

The worst performers of the session were B. Sabadell (MC:SABE), which fell 1.79% or 0.019 points to trade at 1.044 at the close. Bankia SA (MC:BKIA) declined 1.58% or 0.041 points to end at 2.556 and Repsol (MC:REP) was down 1.33% or 0.200 points to 14.800.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 103 to 70 and 19 ended unchanged.

Gold Futures for February delivery was down 0.24% or 3.10 to $1279.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.02% or 0.01 to hit $54.20 a barrel, while the March Brent oil contract rose 0.18% or 0.11 to trade at $62.81 a barrel.

EUR/USD was up 0.07% to 1.1368, while EUR/GBP fell 0.10% to 0.8814.

The US Dollar Index Futures was down 0.01% at 95.985.

Netherlands stocks higher at close of trade; AEX up 0.04%

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

At the close in Amsterdam, the AEX rose 0.04% to hit a new 1-month high.

The best performers of the session on the AEX were Philips Lighting NV (AS:LIGHT), which rose 2.34% or 0.49 points to trade at 21.46 at the close. Meanwhile, Akzo Nobel NV (AS:AKZO) added 1.22% or 0.90 points to end at 74.58 and Wolters Kluwer (AS:WLSNc) was up 0.86% or 0.46 points to 53.82 in late trade.

The worst performers of the session were Koninklijke KPN NV (AS:KPN), which fell 1.35% or 0.034 points to trade at 2.491 at the close. Aalberts Industries NV (AS:AALB) declined 0.96% or 0.29 points to end at 29.98 and ArcelorMittal SA (AS:MT) was down 0.81% or 0.162 points to 19.848.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 65 to 56 and 19 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was up 6.87% to 15.18.

Crude oil for March delivery was up 0.02% or 0.01 to $54.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 0.16% or 0.10 to hit $62.80 a barrel, while the February Gold Futures contract fell 0.25% or 3.15 to trade at $1279.45 a troy ounce.

EUR/USD was up 0.07% to 1.1369, while EUR/GBP fell 0.09% to 0.8815.

The US Dollar Index Futures was down 0.01% at 95.982.

Italy stocks higher at close of trade; Investing.com Italy 40 up 0.11%

Investing.com – Italy stocks were higher after the close on Monday, as gains in the Healthcare, Technology and Industrials sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 gained 0.11% to hit a new 3-months high.

The best performers of the session on the Investing.com Italy 40 were Juventus Football Club (MI:JUVE), which rose 5.32% or 0.0750 points to trade at 1.4840 at the close. Meanwhile, Leonardo SpA (MI:LDOF) added 2.41% or 0.190 points to end at 8.084 and Recordati (MI:RECI) was up 2.30% or 0.71 points to 31.62 in late trade.

The worst performers of the session were Telecom Italia (MI:TLIT), which fell 2.62% or 0.0128 points to trade at 0.4757 at the close. Salvatore Ferragamo SpA (MI:SFER) declined 2.31% or 0.41 points to end at 17.57 and Enel (MI:ENEI) was down 2.30% or 0.122 points to 5.186.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 192 to 174 and 28 ended unchanged.

Shares in Telecom Italia (MI:TLIT) fell to 5-year lows; losing 2.62% or 0.0128 to 0.4757.

Crude oil for March delivery was up 0.02% or 0.01 to $54.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 0.16% or 0.10 to hit $62.80 a barrel, while the February Gold Futures contract fell 0.24% or 3.05 to trade at $1279.55 a troy ounce.

EUR/USD was up 0.07% to 1.1369, while EUR/GBP fell 0.10% to 0.8814.

The US Dollar Index Futures was down 0.01% at 95.980.

Finland stocks higher at close of trade; OMX Helsinki 25 up 0.59%

Investing.com – Finland stocks were higher after the close on Monday, as gains in the Telecoms, Oil&Gas and Utilities sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 rose 0.59% to hit a new 1-month high.

The best performers of the session on the OMX Helsinki 25 were DNA Oyj (HE:DNAO), which rose 2.66% or 0.4800 points to trade at 18.5500 at the close. Meanwhile, Elisa Oyj (HE:ELISA) added 2.43% or 0.94 points to end at 39.60 and Neste Oil Oyj (HE:NESTE) was up 1.95% or 1.54 points to 80.40 in late trade.

The worst performers of the session were Cargotec Oyj (HE:CGCBV), which fell 1.32% or 0.40 points to trade at 29.96 at the close. Outokumpu Oyj (HE:OUT1V) declined 1.29% or 0.0520 points to end at 3.9920 and Kesko Oyj (HE:KESKOB) was down 1.28% or 0.66 points to 51.00.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 81 to 69 and 20 ended unchanged.

Shares in Neste Oil Oyj (HE:NESTE) rose to all time highs; gaining 1.95% or 1.54 to 80.40.

Brent oil for March delivery was up 0.18% or 0.11 to $62.81 a barrel. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.04% or 0.02 to hit $54.21 a barrel, while the February Gold Futures contract fell 0.25% or 3.15 to trade at $1279.45 a troy ounce.

EUR/USD was up 0.08% to 1.1370, while EUR/GBP fell 0.10% to 0.8814.

The US Dollar Index Futures was down 0.01% at 95.980.

Belgium stocks lower at close of trade; BEL 20 down 0.52%

Investing.com – Belgium stocks were lower after the close on Monday, as losses in the Healthcare, Media and Industrial Engineering sectors led shares lower.

At the close in Brussels, the BEL 20 lost 0.52%.

The best performers of the session on the BEL 20 were Argen-X (BR:ARGX), which rose 2.00% or 1.80 points to trade at 91.80 at the close. Meanwhile, Galapagos NV (AS:GLPG) added 0.76% or 0.700 points to end at 92.880 and UCB (BR:UCB) was up 0.58% or 0.44 points to 76.28 in late trade.

The worst performers of the session were bpost NV (BR:BPOST), which fell 3.18% or 0.27 points to trade at 8.07 at the close. Ontex Group (BR:ONTEX) declined 2.69% or 0.48 points to end at 17.36 and Solvay SA (BR:SOLB) was down 2.26% or 2.16 points to 93.60.

Falling stocks outnumbered advancing ones on the Brussels Stock Exchange by 61 to 54 and 10 ended unchanged.

Gold Futures for February delivery was down 0.23% or 2.95 to $1279.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 0.07% or 0.04 to hit $54.23 a barrel, while the March Brent oil contract rose 0.21% or 0.13 to trade at $62.83 a barrel.

EUR/USD was up 0.07% to 1.1368, while EUR/GBP fell 0.12% to 0.8812.

The US Dollar Index Futures was down 0.01% at 95.982.

Germany stocks mixed at close of trade; DAX down 0.62%

Investing.com – Germany stocks were mixed after the close on Monday, as gains in the Media, Financial Services and Food&Beverages sectors led shares higher while losses in the Consumer&Cyclical, Telecoms and Utilities sectors led shares lower.

At the close in Frankfurt, the DAX lost 0.62%, while the MDAX index gained 0.76%, and the TecDAX index added 0.41%.

The best performers of the session on the DAX were Wirecard AG (DE:WDIG), which rose 2.77% or 4.150 points to trade at 154.000 at the close. Meanwhile, Vonovia SE (DE:VNAn) added 1.50% or 0.63 points to end at 42.64 and Adidas AG (DE:ADSGN) was up 0.98% or 2.00 points to 206.00 in late trade.

The worst performers of the session were Henkel&Co KGaA AG Pref (DE:HNKG_p), which fell 9.99% or 9.69 points to trade at 87.33 at the close. RWE AG ST O.N. (DE:RWEG) declined 3.11% or 0.630 points to end at 19.620 and Deutsche Telekom AG Na (DE:DTEGn) was down 2.42% or 0.360 points to 14.530.

The top performers on the MDAX were Evotec AG O.N. (DE:EVTG) which rose 3.46% to 20.330, Siltronic AG (DE:WAFGn) which was up 3.24% to settle at 82.740 and Fraport AG (DE:FRAG) which gained 2.98% to close at 66.280.

The worst performers were Norma Group AG NA O.N. (DE:NOEJ) which was down 1.74% to 47.440 in late trade, K+S AG NA O.N. (DE:SDFGn) which lost 1.64% to settle at 16.815 and Rocket Internet (DE:RKET) which was down 1.37% to 21.60 at the close.

The top performers on the TecDAX were Aumann AG (DE:AAGG) which rose 5.18% to 35.5500, Carl Zeiss Meditec AG (DE:AFXG) which was up 3.66% to settle at 77.900 and Baywa AG Vink. NA O.N. (DE:BYWGnx) which gained 3.12% to close at 24.800.

The worst performers were Tele Columbus AG (DE:TC1n) which was down 4.40% to 2.71 in late trade, SLM Solutions Group AG (DE:AM3D) which lost 3.77% to settle at 9.70 and HelloFresh SE (DE:HFGG) which was down 3.76% to 8.45 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 366 to 340 and 73 ended unchanged.

Shares in Henkel&Co KGaA AG Pref (DE:HNKG_p) fell to 3-years lows; down 9.99% or 9.69 to 87.33. Shares in Carl Zeiss Meditec AG (DE:AFXG) rose to all time highs; up 3.66% or 2.750 to 77.900.

The DAX volatility index, which measures the implied volatility of DAX options, was up 6.11% to 17.19.

Gold Futures for February delivery was down 0.23% or 2.95 to $1279.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 0.11% or 0.06 to hit $54.13 a barrel, while the March Brent oil contract rose 0.05% or 0.03 to trade at $62.73 a barrel.

EUR/USD was up 0.10% to 1.1372, while EUR/GBP fell 0.08% to 0.8816.

The US Dollar Index Futures was down 0.01% at 95.980.

Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.40%

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

At the close in Stockholm, the OMX Stockholm 30 declined 0.40%.

The best performers of the session on the OMX Stockholm 30 were Sandvik AB (ST:SAND), which rose 1.54% or 2.15 points to trade at 141.40 at the close. Meanwhile, AstraZeneca PLC (ST:AZN) added 1.00% or 6.6 points to end at 666.1 and Svenska Cellulosa SCA AB B (ST:SCAb) was up 0.31% or 0.2 points to 78.0 in late trade.

The worst performers of the session were Getinge AB ser. B (ST:GETIb), which fell 3.24% or 2.7 points to trade at 81.9 at the close. Alfa Laval AB (ST:ALFA) declined 1.66% or 3.4 points to end at 198.1 and H&M Hennes&Mauritz AB B (ST:HMb) was down 1.59% or 2.2 points to 134.6.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 362 to 253 and 57 ended unchanged.

Crude oil for March delivery was down 0.13% or 0.07 to $54.12 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 0.05% or 0.03 to hit $62.73 a barrel, while the February Gold Futures contract fell 0.22% or 2.85 to trade at $1279.75 a troy ounce.

EUR/SEK was down 0.12% to 10.2496, while USD/SEK fell 0.14% to 9.0128.

The US Dollar Index Futures was down 0.02% at 95.970.

Russia stocks lower at close of trade; MOEX Russia down 0.22%

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

At the close in Moscow, the MOEX Russia fell 0.22%.

The best performers of the session on the MOEX Russia were AFK Sistema (MCX:AFKS), which rose 4.51% or 0.410 points to trade at 9.510 at the close. Meanwhile, SG mechel (MCX:MTLR) added 2.58% or 2.05 points to end at 81.40 and Moskovskaya Birzha OAO (MCX:MOEX) was up 1.47% or 1.37 points to 94.70 in late trade.

The worst performers of the session were Aeroflot (MCX:AFLT), which fell 1.12% or 1.20 points to trade at 105.80 at the close. RusHydro JSC (MCX:HYDR) declined 0.95% or 0.0049 points to end at 0.5100 and ALROSA ao (MCX:ALRS) was down 0.92% or 0.950 points to 102.550.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 108 to 102 and 19 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 1.16% to 21.850.

Gold Futures for February delivery was down 0.23% or 2.95 to $1279.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 0.65% or 0.35 to hit $53.84 a barrel, while the March Brent oil contract fell 0.46% or 0.29 to trade at $62.41 a barrel.

USD/RUB was up 0.15% to 66.3698, while EUR/RUB rose 0.19% to 75.4375.

The US Dollar Index Futures was down 0.01% at 95.988.