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Israel stocks higher at close of trade; TA 35 up 1.42%

October 16, 2018, 03:00

Investing.com – Israel stocks were higher after the close on Tuesday, as gains in the Biomed, Technology and Real Estate sectors led shares higher.

At the close in Tel Aviv, the TA 35 rose 1.42%.

The best performers of the session on the TA 35 were Ormat Technologies (TA:ORA), which rose 4.19% or 760 points to trade at 18890 at the close. Meanwhile, OPKO Health Inc (TA:OPK) added 3.66% or 48 points to end at 1358 and Elbit Systems Ltd (TA:ESLT) was up 3.18% or 1360 points to 44160 in late trade.

The worst performers of the session were Fattal 1998 Holdings Ltd (TA:FATTAL), which fell 1.87% or 770 points to trade at 40400 at the close. Bazan Oil Refineries Ltd (TA:ORL) declined 1.17% or 2.1 points to end at 177.0 and Phoenix Holdings Ltd (TA:PHOE1) was down 1.06% or 23 points to 2150.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 247 to 128 and 25 ended unchanged.

Crude oil for November delivery was down 0.15% or 0.11 to $71.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.11% or 0.09 to hit $80.69 a barrel, while the December Gold Futures contract rose 0.18% or 2.20 to trade at $1232.50 a troy ounce.

USD/ILS was down 0.13% to 3.6416, while EUR/ILS fell 0.11% to 4.2179.

The US Dollar Index Futures was down 0.05% at 94.72.

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Gold Prices Mark Fresh 3-Month High as Dollar Continues Decline

October 16, 2018, 01:46

Investing.com - Gold prices headed higher on Friday, marking fresh 3-month highs, as investors continued to seek out the precious metal as a safe haven against a sea of geopolitical tensions and global macro uncertainties, while a falling dollar also lent support.

At 9:44 AM ET (13:44 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $4.20, or 0.34%, to $1,234.50 a troy ounce. Tuesday’s intraday high of $1,235.90 is its highest level since July 16.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of six major currencies, was down 0.19% to 94.59.

A weaker dollar boosts demand for gold as it makes dollar-denominated commodities more affordable for holders of other currencies.

Gold is still down about 9% from its April peak, as the dollar had benefited from early signs of the Federal Reserve’s preference for a higher-for-longer interest rate plan.

But after the Fed increased rates for the third time this year, the recent spike in U.S. bond yields coupled with last week’s downturn in U.S. equities (their largest weekly decline since March), have shifted demand from the greenback to gold.

U.S. President Donald Trump’s renewed attacks on the Fed’s policy tightening have also highlighted the political pressure on the U.S. central bank.

Former Fed Chief Janet Yellen reportedly warned Monday that the president’s remarks were “essentially damaging to the Fed and to financial stability,” adding that she did not believe that it was “a desirable thing for a president to comment so explicitly on Fed policy”.

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Stocks - Wall Street Rises on Upbeat Earnings

October 16, 2018, 01:39

Investing.com – Wall Street opened higher on Tuesday as upbeat earnings from financial companies boosted investor confidence.

The S&P 500 rose 19 points or 0.70% to 2,770.08 as of 9:37 AM ET (13:37 GMT), while the Dow increased 196 points, or 0.78%, to 25,447.51 and the tech-heavy Nasdaq Composite was up 72 points, or 0.98% to 7,503.52.

A flurry of better-than-expected earnings results from major financial institutions bolstered the market. Morgan Stanley (NYSE:MS) rose 4.10% after its earnings came in better than expected, while Goldman Sachs (NYSE:GS) increased 1.57% after it beat expectations.

BlackRock (NYSE:BLK) fell 4.90% despite reporting better-than-expected results as it reported the lowest intake of new funds in two years.

In other earnings news, UnitedHealth (NYSE:UNH) was up 4.3% after it raised its full-year earnings outlook after its earnings beat, while Walmart (NYSE:WMT) inched up 0.82% despite cutting its full-year earnings guidance.

Netflix (NASDAQ:NFLX) and IBM (NYSE:IBM) are expected to report earnings after the bell. Netflix rose 1.32%, while IBM increased 1.13%.

Elsewhere, Adobe (NASDAQ:ADBE) jumped 6.25% after the company forecast a 20% increase in 2019 revenue and a 25% rise in its digital experience subscriptions as part of its growth strategy. Tesla (NASDAQ:TSLA) gained 4.2% and Citigroup (NYSE:C) rose 0.61%.

In commodities, gold futures increased 0.36% to $1,234.70 a troy ounce, while crude oil futures fell 0.70% to $71.28 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, decreased 0.22% to 94.56.

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BlackRock Falls 4%

October 16, 2018, 01:32

Investing.com - BlackRock fell by 3.97% to trade at $410.00 by 09:31 (13:31 GMT) on Tuesday on the NYSE exchange.

The volume of BlackRock shares traded since the start of the session was 106.44K. BlackRock has traded in a range of $407.06 to $410.71 on the day.

The stock has traded at $477.0000 at its highest and $409.0000 at its lowest during the past seven days.

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UnitedHealth Rises 3%

October 16, 2018, 01:32

Investing.com - UnitedHealth (NYSE:UNH) rose by 3.06% to trade at $268.21 by 09:31 (13:31 GMT) on Tuesday on the NYSE exchange.

The volume of UnitedHealth shares traded since the start of the session was 245.19K. UnitedHealth has traded in a range of $267.36 to $269.77 on the day.

The stock has traded at $271.9500 at its highest and $255.7800 at its lowest during the past seven days.

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Adobe Rises 7%

October 16, 2018, 01:32

Investing.com - Adobe (NASDAQ:ADBE) rose by 6.61% to trade at $253.74 by 09:31 (13:31 GMT) on Tuesday on the NASDAQ exchange.

The volume of Adobe shares traded since the start of the session was 471.66K. Adobe has traded in a range of $252.11 to $255.27 on the day.

The stock has traded at $263.4600 at its highest and $234.7200 at its lowest during the past seven days.

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Progressive Earnings, Revenue beat in Q3

October 16, 2018, 01:18

Investing.com - Progressive reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.

The firm reported earnings per share of $1.57 on revenue of $8.61B. Analysts polled by Investing.com forecast EPS of $1.13 on revenue of $8.37B. That compared to EPS of $0.82 on revenue of $7.14B in the same period a year earlier The company had reported EPS of $1.15 on revenue of $8.1B in the previous quarter.

Progressive shares gained 2,64% to trade at $67.99 in pre-market trade following the report.

For the year, Progressive shares are up 17.32%, outperforming the S&P 500 which is up 2.5% year to date.

Progressive follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

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

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Saudi Arabia stocks higher at close of trade; Tadawul All Share up 1.31%

October 16, 2018, 01:15

Investing.com – Saudi Arabia stocks were higher after the close on Tuesday, as gains in the Telecoms&IT, Financial Services and Cement sectors led shares higher.

At the close in Saudi Arabia, the Tadawul All Share added 1.31%.

The best performers of the session on the Tadawul All Share were Saudi Industrial Export Co (SE:4140), which rose 9.96% or 6.90 points to trade at 76.20 at the close. Meanwhile, Saudi Ceramic Co. (SE:2040) added 7.42% or 1.28 points to end at 18.54 and Basic Chemical Industries Co (SE:1210) was up 5.78% or 1.30 points to 23.80 in late trade.

The worst performers of the session were Al Alamiya Cooperative Insurance (SE:8280), which fell 5.06% or 1.55 points to trade at 29.10 at the close. Eastern Province Cement Co. (SE:3080) declined 4.96% or 0.94 points to end at 18.00 and Saudi Cable Company (SE:2110) was down 4.80% or 1.55 points to 30.75.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 132 to 50 and 5 ended unchanged.

Shares in Saudi Industrial Export Co (SE:4140) rose to 52-week highs; up 9.96% or 6.90 to 76.20. Shares in Eastern Province Cement Co. (SE:3080) fell to all time lows; losing 4.96% or 0.94 to 18.00.

Crude oil for November delivery was down 0.47% or 0.34 to $71.44 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.52% or 0.42 to hit $80.36 a barrel, while the December Gold Futures contract rose 0.24% or 2.90 to trade at $1233.20 a troy ounce.

EUR/SAR was up 0.31% to 4.3590, while USD/SAR fell 0.05% to 3.7510.

The US Dollar Index Futures was down 0.30% at 94.49.

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U.S. Industrial Production Rises in September

October 16, 2018, 01:15

Investing.com - U.S. industrial production rose in September, according to data released on Tuesday.

The Federal Reserve reported that industrial output rose 0.3% last month after gaining 0.4% in August.

Economists had forecast industrial production rising 0.2%.

Meanwhile, manufacturing production increased 0.2% in September, in line with the previous month’s gain and consensus..

The report also showed that the capacity utilization rate, a measure of how fully firms are using their resources, held steady at 78.1% in September.

Economists had forecast it to rise to 78.2%.

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Cryptos Lower, Bitcoin Falls From Three-Week High

October 16, 2018, 12:42

Investing.com - Cryptocurrencies were mostly lower on Tuesday, as Bitcoin fell from a three-week high.

Bitcoin fell 2.14% to $6,701.20 on the Bitfinex exchange as of 8:42 AM ET (12:42 GMT) after surging to a three-week high of $7,262.40 on Monday.

Cryptocurrencies overall were lower, with the otal coin market capitalization at $211 billion at the time of writing, compared to a peak of $221 billion on Monday.

Ethereum,or Ether, decreased 2.70% to $213.51 and Litecoin was at $56.074, down 1.41%, while XRP inched up 0.04% to $0.46656.

Tether recovered from its slump on Monday, as investors remain worried about the coin that the company claims is backed by one U.S. dollar. USDT/USD rose 3.16% to 0.95681 after falling to as low as 0.87934 during the prior session.

Meanwhile, Fidelity Investments has launched a new company to help institutional clients trade and store digital assets, the asset manager said on Monday.

The company, called Fidelity Digital Asset Services, will buy and sell virtual coins on behalf of its clients.

“Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” Abigail Johnson, chairman and chief executive of Fidelity Investments, said in a statement.

In other news, U.S.-based Coinbase, one of the biggest cryptocurrency exchanges globally, is expanding its newly-opened Dublin office, which will allow it sell to EU markets after Brexit.

"It ticks a lot of boxes, ranging from giving us a contingency, helping us plan for all eventualities for Brexit and engaging with Europe through another base," UK Chief Executive Officer Zeeshan Feroz told Reuters in an interview.

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Oil Prices Edge Lower Ahead of API Data

October 16, 2018, 12:28

Investing.com - Oil prices ticked lower on Tuesday as investors looked ahead to fresh weekly data on U.S. commercial crude inventories.

The American Petroleum Institute, an industry group, is due to release its weekly report for the week ended Oct. 12 at 4:30 PM ET (2030 GMT), amid expectations of an increase of about 1.1 million barrels.

The Energy Information Administration's more-closely-followed report will be released Wednesday.

November West Texas Intermediate crude, the U.S. benchmark contract, slumped 36 cents, or around 0.5%, to $71.42 a barrel at 8:40 AM ET (12:40 GMT) on the New York Mercantile Exchange.

Meanwhile, international benchmark Brent crude oil futures were at $80.28 a barrel on ICE Futures Europe, down 50 cents, or about 0.6%.

Losses were limited amid indications that Iranian oil exports have fallen ahead of U.S. sanctions taking effect in November.

The sanctions are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.

Iran is the third-biggest producer in OPEC, supplying around 2.5 million barrels per day (bpd) of crude and condensate to markets this year, equivalent to around 2.5% of global consumption.

Meanwhile, oil traders were keeping an eye on mounting geopolitical tensions between OPEC kingpin Saudi Arabia and the U.S. over the disappearance of a prominent Saudi journalist earlier this month.

Jamal Khashoggi, a U.S. resident and prominent critic of Crown Prince Mohammed bin Salman, disappeared after entering the Saudi consulate in Istanbul, Turkey on Oct. 2. Turkish authorities claim Khashoggi was murdered and his body removed. Saudi Arabia has fiercely denied that.

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Stocks - Goldman Sachs, Morgan Stanley Gain in Pre-market; BlackRock Falls

October 16, 2018, 12:31

Investing.com - Stocks in focus in pre-market trade Tuesday:

• Goldman Sachs (NYSE:GS) stock gained 1.18% by 8:16 AM ET (12:16 GMT) as the company topped expectations for third quarter results on the top and bottom lines.

Morgan Stanley (NYSE:MS) stock advanced 2.84% after the company reported better-than-expected third quarter profit and revenue that topped consensus.

• UnitedHealth (NYSE:UNH) stock gained 1.06% after the company reported better-than-expected third quarter results and raised its full-year outlook.

• Walmart (NYSE:WMT) stock traded up 0.19% despite cutting its full-year earnings guidance, as its forecast for annual same-store sales topped expectations.

• Ford Motor (NYSE:F) stock rose 0.68% after the company announced a new China sport utility vehicle as part its plan to release new models and turn around declining sales.

• Adobe Systems (NASDAQ:ADBE) stock jumped 5.88% after the company forecast a 20% increase in 2019 revenue and a 25% rise in its digital experience subscriptions as part of its growth strategy.

• BlackRock (NYSE:BLK) stock fell 2.58% as new investment in its iShares ETFs declined from a year earlier and investors pulled out $24.76 billion from its portfolio managed index funds.

• Johnson & Johnson (NYSE:JNJ) slipped 0.04% despite reporting better-than-expected quarterly results.

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Goldman Sachs Reports 25% Increase in Q3 Earnings

October 16, 2018, 11:42

Investing.com - Goldman Sachs reported third quarter earnings that beat analysts expectations on Tuesday and revenue that topped forecasts.

The firm reported earnings per share of $6.28, up 25.1% from a year earlier. Revenue came in at $8.65 billion, ahead of forecasts for $8.37 billion.

The “solid results” were driven by contributions from across the franchise and highlighted that year-to-date earnings per share of $19.21 is the highest in the company’s history while the year-to-date return on equity is the highest in nine years, Chief Executive David Solomon said.

“We remain well positioned to continue delivering for our clients and shareholders,” he added.

At 7:53 AM ET (11:53 GMT) Goldman Sachs shares (NYSE:GS) gained 0.99% to trade at $271.49 in pre-market trade following the report.

For the year, Goldman Sachs shares are down 16.51% as of Monday’s close, under-performing the S&P 500 which is up 2.5% year to date.

Goldman Sachs follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

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

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United Arab Emirates stocks mixed at close of trade; DFM General up 0.55%

October 16, 2018, 11:15

Investing.com – United Arab Emirates stocks were mixed after the close on Tuesday, as gains in the Services, Consumer Staples and Real Estate&Construction sectors led shares higher while losses in the Finance&Investment, Transport and Telecoms sectors led shares lower.

At the close in Dubai, the DFM General rose 0.55%, while the ADX General index fell 0.04%.

The best performers of the session on the DFM General were Deyaar Development PJSC (DU:DEYR), which rose 9.95% or 0.043 points to trade at 0.475 at the close. Meanwhile, DXB Entertainments (P.J.S.C.) (DU:DXBE) added 1.93% or 0.007 points to end at 0.370 and National Central Cooling Co. (DU:TABR) was up 1.91% or 0.030 points to 1.600 in late trade.

The worst performers of the session were Drake&Scull International PJSC (DU:DSI), which fell 1.70% or 0.007 points to trade at 0.404 at the close. Takaful House (DU:DTKF) declined 1.49% or 0.009 points to end at 0.596 and Dubai Islamic Insurance Co. (DU:AMAN) was down 1.43% or 0.009 points to 0.620.

The top performers on the ADX General were Rak Cement Co (AD:RKCC) which rose 5.15% to 0.715, Ad Natl Energy (AD:TAQA) which was up 3.60% to settle at 1.150 and Eshraq Properties Co PJSC (AD:ESHR) which gained 3.12% to close at 0.6280.

The worst performers were Gulf Cement Co (AD:GCEM) which was down 4.35% to 0.8800 in late trade, Rak Ceramics (AD:RKCE) which lost 3.93% to settle at 2.200 and Arkan Building Materials Co PJSC (AD:ARKN) which was down 3.17% to 0.5200 at the close.

Rising stocks outnumbered declining ones on the Dubai Stock Exchange by 14 to 13 and 8 ended unchanged; on the Abu Dhabi, 16 fell and 7 advanced, while 5 ended unchanged.

Shares in Takaful House (DU:DTKF) fell to 52-week lows; falling 1.49% or 0.009 to 0.596. Shares in Gulf Cement Co (AD:GCEM) fell to 52-week lows; losing 4.35% or 0.0400 to 0.8800.

Crude oil for November delivery was down 0.82% or 0.59 to $71.19 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.73% or 0.59 to hit $80.19 a barrel, while the December Gold Futures contract rose 0.25% or 3.10 to trade at $1233.40 a troy ounce.

USD/AED was down 0.01% to 3.6730, while EUR/AED fell 0.01% to 4.2526.

The US Dollar Index Futures was down 0.05% at 94.72.

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Morgan Stanley Reports Better-Than-Expected Q3 Profit

October 16, 2018, 10:58

Investing.com - Morgan Stanley reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.

The firm reported earnings per share of $1.17, a 26% increase versus a year ago. Revenue came in at $9.87 billion, compared to $9.2 billion a year ago.

Analysts polled by Investing.com anticipated EPS of $1.02 on revenue of $9.56 billion.

“Despite the seasonal summer slowdown in the third quarter, we reported solid revenue and earnings growth demonstrating the stability of the franchise,” Chief Executive James Gorman said.

“We remain well positioned and optimistic for the remainder of the year,” he added.

At 7:07 AM ET (11:07 GMT), Morgan Stanley shares (NYSE:MS) jumped 1.69% to trade at $44.20 in pre-market trade.

For the year, Morgan Stanley shares are down 17.61% as of Monday's close, under-performing the S&P Global 100 which is down 0.49% year to date.

Morgan Stanley follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

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

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Stocks- U.S. Futures Rise Amid Upbeat Earnings Results

October 16, 2018, 11:00

Investing.com - U.S. stock futures pointed to a higher open on Wall Street on Tuesday amid a flurry of earnings reports with several big name companies, including Morgan Stanley (NYSE:MS) and BlackRock, beating expectations.

The S&P 500 futures was up 11 points or 0.42% to 2,760.50 as of 6:59 AM ET (10:59 GMT) while Dow futures were up 111 points, or 0.44%, to 25,312.0. Meanwhile tech heavy Nasdaq 100 futures increased 44 points, or 0.63%, to 7,120.75.

Morgan Stanley (NYSE:MS) rose 2.24% in premarket trading after its earnings came in better than expected.

BlackRock (NYSE:BLK) also reported larger-than-expected quarterly earnings results, while UnitedHealth (NYSE:UNH) raised its full year earnings outlook after its earnings beat.

Goldman Sachs (NYSE:GS) was also expected to report earnings results ahead of the open, while Netflix (NASDAQ:NFLX) and IBM (NYSE:IBM) are to report after the market close.

Ford Motor Company (NYSE:F) was among the top gainers, surging 2.16% after the carmaker launched a new SUV in China. Meanwhile medical marijuana company Tilray Inc (NASDAQ:TLRY) increased 5.65% while Adobe (NASDAQ:ADBE) jumped 5.88% after it launched a video editing app.

Elsewhere Walmart (NYSE:WMT) slumped 1.75% after it cut its fiscal outlook for 2019.

On the data front, the U.S. Redbook data is due at 8:55 AM ET (12:55 GMT), followed by industrial production numbers for September at 9:15 AM ET (13:15 GMT).

The latest Housing Market Index comes out at 10:00 AM ET (14:00 GMT), along with the August report on JOLTs job openings.

In commodities, gold futures rose 0.14% to $1,232.00 a troy ounce while crude oil futures decreased 0.89% to $71.14 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.02% to 94.75.

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Walmart Cuts Full Year Earnings Guidance

October 16, 2018, 10:42

Investing.com - Walmart (NYSE:WMT) cut its full-year guidance for earnings per share, according to a release on Tuesday.

The company said it now expects it fiscal 2019 earnings per share to be $2.65 to $2.80 and its adjusted earnings per share estimate to be $4.65 to $4.65. That compared to the previous projection of $2.90 to $3.05 and $4.90 to $5.05, respectively.

The company released the updated outlook ahead of its annual meeting for investors.

Walmart President and CEO Doug McMillon indicated that the company was adapting and transforming in an attempt to better serve current customers and capture new clients.

“We’re operating with discipline, balancing our short and long-term opportunities,” he said. “While we’re excited about what we’ve done so far, we aren’t satisfied,” he said.

This is a breaking news story; please refresh the page for updates.

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J&J Earnings, Revenue beat in Q3

October 16, 2018, 10:48

Investing.com - J&J (NYSE:JNJ) reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.

The firm reported earnings per share of $2.05 on revenue of $20.35B. Analysts polled by Investing.com anticipated EPS of $2.03 on revenue of $20.04B. That compared to EPS of $1.9 on revenue of $19.65B in the same period a year earlier The company had reported EPS of $2.1 on revenue of $20.83B in the previous quarter.

For the year, J&J shares are down 4.09%, under-performing the S&P 500 which is up 2.5% year to date.

J&J follows other major Healthcare sector earnings this month

On September 27, Cantel Medical reported fourth quarter EPS of $0.62 on revenue of $228.85M, compared to forecasts of EPS of $0.58 on revenue of $225.98M.

Neogen earnings matched analyst's expectations on September 25, with first quarter EPS of $0.29 on revenue of $99.63M. Investing.com analysts expected EPS of $0.29 on revenue of $104.57M

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

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India stocks higher at close of trade; Nifty 50 up 0.69%

October 16, 2018, 10:45

Investing.com – India stocks were higher after the close on Tuesday, as gains in the Oil&Gas, Real Estate and Public Sector Undertakings sectors led shares higher.

At the close in NSE, the Nifty 50 added 0.69%, while the BSE Sensex 30 index added 0.85%.

The best performers of the session on the Nifty 50 were Mahindra&Mahindra Ltd. (NS:MAHM), which rose 4.01% or 30.00 points to trade at 777.70 at the close. Meanwhile, Adani Port and Special Economic Zone Ltd (NS:APSE) added 4.00% or 12.85 points to end at 333.35 and Tech Mahindra Ltd (NS:TEML) was up 2.94% or 20.45 points to 718.70 in late trade.

The worst performers of the session were Indiabulls Housing Finance Ltd (NS:INBF), which fell 5.15% or 48.90 points to trade at 907.35 at the close. Eicher Motors Ltd. (NS:EICH) declined 1.34% or 314.50 points to end at 23002.15 and Cipla Ltd. (NS:CIPL) was down 1.21% or 7.85 points to 639.75.

The top performers on the BSE Sensex 30 were Mahindra&Mahindra Ltd. (BO:MAHM) which rose 3.97% to 778.30, Adani Port and Special Economic Zone Ltd (BO:APSE) which was up 3.54% to settle at 333.00 and Oil And Natural Gas Corporation Ltd (BO:ONGC) which gained 3.44% to close at 165.50.

The worst performers were HDFC Bank Ltd (BO:HDBK) which was down 0.77% to 1992.40 in late trade, Bajaj Auto Ltd (BO:BAJA) which lost 0.54% to settle at 2611.15 and Maruti Suzuki India Ltd. (BO:MRTI) which was down 0.45% to 7149.95 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 1183 to 419 and 54 ended unchanged; on the Bombay Stock Exchange, 1711 rose and 835 declined, while 156 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 8.01% to 17.3725.

Gold Futures for December delivery was up 0.20% or 2.50 to $1232.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.82% or 0.59 to hit $71.19 a barrel, while the December Brent oil contract fell 0.85% or 0.69 to trade at $80.09 a barrel.

USD/INR was down 0.14% to 73.615, while EUR/INR fell 0.15% to 85.2925.

The US Dollar Index Futures was down 0.06% at 94.71.

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Sri Lanka stocks higher at close of trade; CSE All-Share up 0.37%

October 16, 2018, 10:45

Investing.com – Sri Lanka stocks were higher after the close on Tuesday, as gains in the Diversified Holdings, Plantations and Banking, Financials&Insurance sectors led shares higher.

At the close in Colombo, the CSE All-Share added 0.37%.

The best performers of the session on the CSE All-Share were Adam Investments Ltd (CM:ADAM), which rose 100.00% or 0.100 points to trade at 0.200 at the close. Meanwhile, Sunshine Holdings PLC (CM:SUN) added 19.57% or 9.00 points to end at 55.00 and Beruwala Resorts PLC (CM:BERU) was up 16.67% or 0.100 points to 0.700 in late trade.

The worst performers of the session were Printcare PLC (CM:CARE), which fell 12.67% or 3.80 points to trade at 26.20 at the close. Hayleys Fibre PLC (CM:HEXP) declined 5.04% or 3.40 points to end at 64.10 and Lighthouse Hotel PLC (CM:LHL) was down 5.04% or 1.70 points to 32.00.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 91 to 63 and 58 ended unchanged.

Crude oil for November delivery was down 0.86% or 0.62 to $71.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.87% or 0.70 to hit $80.08 a barrel, while the December Gold Futures contract rose 0.20% or 2.40 to trade at $1232.70 a troy ounce.

GBP/LKR was up 0.69% to 225.845, while USD/LKR rose 0.32% to 170.910.

The US Dollar Index Futures was down 0.06% at 94.71.

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UnitedHealth Tops Consensus on Q3 Earnings, Raises 2018 Outlook

October 16, 2018, 10:00

Investing.com - UnitedHealth (NYSE:UNH) reported third quarter earnings that beat analysts’ expectations on Tuesday and revenue that topped forecasts, while the company also raised its full-year outlook.

The company reported earnings per share of $3.41, an increase of 29% year-over-year. Revenue came in at $56.56 billion, up 12% on a year-over-year basis. Analysts polled by Investing.com forecast EPS of $3.29 on revenue of $56.36 billion.

The company also raised its outlook for 2018 net earnings per share to now approach $12.10, from the prior range of $11.80 to $12.05 and lifted its estimate for adjusted net earnings per share to now approach $12.80, from the prior range of $12.50 to $12.75.

“These results reflect our businesses delivering increased value at an accelerating pace to society and the millions of people we serve – one person at a time,” said David S. Wichmann, chief executive officer of UnitedHealth Group.

At 6:19 AM ET (10:19 GMT), UnitedHealth stock gained 1.06% to $263.00 in pre-market trade on Tuesday. For the year, shares are up 17.75% as of Monday's close, outperforming the S&P 500 which is up 2.5% year to date.

UnitedHealth follows other major Financial sector earnings this month

On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.

Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B

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

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Indonesia stocks higher at close of trade; IDX Composite Index up 1.28%

October 16, 2018, 10:15

Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Consumer Industry, Infrastructure and Manufacturing sectors led shares higher.

At the close in Jakarta, the IDX Composite Index rose 1.28%.

The best performers of the session on the IDX Composite Index were Natura City Developments Tbk PT (JK:CITY), which rose 25.00% or 109 points to trade at 545 at the close. Meanwhile, Arkadia Digital Media Tbk PT (JK:DIGI) added 24.84% or 200 points to end at 1005 and Argha Karya Prima Ind Tbk (JK:AKPI) was up 17.58% or 145 points to 970 in late trade.

The worst performers of the session were Inti Bangun Sejahtera Tbk (JK:IBST), which fell 19.79% or 1425 points to trade at 5775 at the close. Verena Multi Finance Tbk (JK:VRNA) declined 13.39% or 17 points to end at 110 and Lippo Cikarang Tbk (JK:LPCK) was down 13.36% or 185 points to 1200.

Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 199 to 193 and 112 ended unchanged.

Shares in Natura City Developments Tbk PT (JK:CITY) rose to all time highs; up 25.00% or 109 to 545. Shares in Inti Bangun Sejahtera Tbk (JK:IBST) fell to 52-week lows; falling 19.79% or 1425 to 5775. Shares in Lippo Cikarang Tbk (JK:LPCK) fell to 5-year lows; down 13.36% or 185 to 1200.

Crude oil for November delivery was down 0.89% or 0.64 to $71.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.82% or 0.66 to hit $80.12 a barrel, while the December Gold Futures contract rose 0.16% or 2.00 to trade at $1232.30 a troy ounce.

USD/IDR was down 0.05% to 15193.4, while AUD/IDR rose 0.23% to 10861.50.

The US Dollar Index Futures was up 0.02% at 94.79.

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German Economic Expectations Deteriorate on U.S.-China Trade Tensions - ZEW

October 16, 2018, 09:00

Investing.com - The mood among German investors worsened in October due to concerns over the continuing trade dispute between the U.S. and China while concerns over the pending exit of the UK from the European Union also dampened sentiment, a survey showed on Tuesday.

The Mannheim-based ZEW research institute said its monthly survey showed its German economic sentiment fell to a negative 24.7 in October, matching the level seen in July which had been its lowest since 2012.

According to the Institute, the 14.1 point decline in the index was “remarkably strong”, surpassed only in the aftermath of the 2016 Brexit vote when the UK decided to leave the EU.

“Expectations for the German economy are dampening above all due to the intensifying trade dispute between the USA and China,” ZEW president Professor Achim Wambach explained, noting that negative expectations were beginning to impact German exports.

He added that additional negative influence on economic and export expectations could be seen from the “ever more likely” danger of a hard Brexit and a more unstable governing coalition in Germany.

According to the report, the deterioration in sentiment also spread to the wider euro zone which experienced a “very significant drop” to minus 19.4 points.

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Top 5 Things to Know in The Market on Tuesday

October 16, 2018, 09:35

Investing.com - Here are the top five things you need to know in financial markets on Tuesday, October 16:

1. Netflix Reports Earnings

Netflix (NASDAQ:NFLX) results due out after the closing bell will be today's main event, as a busy week for earnings rolls along.

The streaming giant is forecast to report adjusted earnings per share (EPS) of $0.68 on revenue of $4.0 billion for the third quarter, according to estimates.

Perhaps of greater interest, Wall Street will be closely watching subscriber growth numbers. Netflix said in its second quarter letter to shareholders that it expects to add 5 million subscribers in the third quarter, down from 5.3 million adds in the same quarter last year.

It was up around 0.8% in Tuesday's pre-market.

Shares have gotten pounded over the last three months, plunging into a bear market after the company posted a huge miss in subscriber growth for the second quarter back in July. Netflix is still up around 75% this year.

2. Goldman Sachs, Morgan Stanley Results Also In focus

Besides Netflix, market participants will focus on financial results from two of the U.S.' largest investment banks.

Morgan Stanley (NYSE:MS) is slated release third quarter earnings at 6:55AM ET (1055GMT). Analysts are forecasting earnings per share (EPS) of $1.02 on revenue of $9.56 billion. The same period of last year had $0.88 in EPS and $10.75 billion in revenue.

Goldman Sachs (NYSE:GS) is set to follow with its Q3 report at 7:30AM ET (1130GMT). Wall Street analysts expect the firm to post EPS of $5.40 and revenue of $8.37 billion.

Also on the earnings docket for today are Blackrock (NYSE:BLK), Johnson & Johnson (NYSE:JNJ), and UnitedHealth (NYSE:UNH), all set to post results in the morning, while IBM (NYSE:IBM) is due after the close along with CSX (NASDAQ:CSX) and United Continental (NASDAQ:UAL).

3. Wall Street Set for Modest Bounce

U.S. stock index futures indicated a slightly higher open, as investors looked ahead to a slew of corporate releases and economic data.

At 5:30AM ET, the blue-chip Dow futures were up 48 points, or about 0.2%, the S&P 500 futures gained 7 points, or around 0.3%, while the tech-heavy Nasdaq 100 futures indicated a rise of 28 points, or roughly 0.4%.

U.S. stocks finished lower on Monday, led by tech, continuing from their overall trend last week.

Elsewhere, in Europe, the region's major bourses were mixed, as investors continued to watch developments surrounding Brexit talks and Italy's budget saga.

Earlier, stocks in Asia closed mixed, with markets in China losing their earlier gains to land in negative territory. The mainland's benchmark Shanghai Composite fell by 0.8% to close at its lowest since November 2014.

4. Oil Prices Dip Ahead of API Report

In commodity markets, oil prices ticked lower ahead of the release of fresh weekly data on U.S. commercial crude inventories.

The American Petroleum Institute is due to release its weekly report for the week ended October 12 at 4:30PM ET (2030GMT), amid expectations of an increase of about 1.1 million barrels.

U.S. West Texas Intermediate WTI crude futures were down 59 cents, or 0.8% at $71.19 a barrel.

International Brent crude oil futures were at $80.20 per barrel, 58 cents, or 0.7%, lower from their last close.

Oil traders were also keeping an eye on mounting geopolitical tensions between Saudi Arabia and the West over the disappearance of a prominent Saudi journalist.

5. Upcoming Data

On the data front, the U.S. Redbook data is due at 8:55AM ET (1255GMT), followed by industrial production numbers for September at 9:15AM ET (1315GMT).

The latest Housing Market Index is then due at 10AM ET (1400GMT), along with the August report on JOLTs job openings, which should give investors a sense of how much slack remains in the labor market.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was largely unchanged at the 94.80-level.

There was some focus on the U.S. Treasury’s semiannual currency report due later in the day, with investors waiting to see Washington’s view on China after media reports last week that it has not labeled Beijing a currency manipulator.

Meanwhile, in the bond market, U.S. Treasury prices held steady, with the benchmark 10-year yield standing at around 3.17%.

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Pound Touches Day’s Highs on Strong Wage Growth Figures

October 16, 2018, 09:07

Investing.com - The pound rose to the day’s highs on Tuesday after data showing that wage growth in the UK accelerated at the fastest pace in nearly 10 years in August, bolstering the outlook for the economy.

GBP/USD hit a high of 1.3209 and was at 1.3194 by 04:57 AM ET (08:58 AM GMT), up 0.33% for the day.

Average earnings, excluding bonuses, rose by an annual 3.1% in the three months to August, the Office of National Statistics reported. It was the fastest increase since Jan. 2009.

Including bonuses, pay growth rose by an annualized 2.7%, the quickest growth since February.

The annual rate of inflation in the UK was 2.5% in August, indicating only a modest boost to workers spending power.

The unemployment rate held as expected at 4.0% in August.

"People’s regular monthly wage packets grew at their strongest rate in almost a decade but, allowing for inflation, the growth was much more subdued. The number of people in work remained at a near record high, while the unemployment rate was at its lowest since the mid-1970s", said ONS head of labor market David Freeman.

Sterling was also higher against the euro, with EUR/GBP slipping 0.3% to 0.8776 from around 0.8789 earlier.

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Japan stocks higher at close of trade; Nikkei 225 up 1.25%

October 16, 2018, 08:35

Investing.com – Japan stocks were higher after the close on Tuesday, as gains in the Mining, Transport and Fishery sectors led shares higher.

At the close in Tokyo, the Nikkei 225 gained 1.25%.

The best performers of the session on the Nikkei 225 were Toho Zinc Co., Ltd. (T:5707), which rose 6.27% or 260.0 points to trade at 4410.0 at the close. Meanwhile, Nippon Telegraph&Telephone Corp (T:9432) added 4.50% or 215.0 points to end at 4991.0 and Fast Retailing Co., Ltd. (T:9983) was up 3.96% or 2120.0 points to 55660.0 in late trade.

The worst performers of the session were Terumo Corp. (T:4543), which fell 3.78% or 250.0 points to trade at 6370.0 at the close. Showa Shell Sekiyu K.K. (T:5002) declined 2.58% or 63.0 points to end at 2378.0 and Shiseido Co., Ltd. (T:4911) was down 2.35% or 172.0 points to 7138.0.

Rising stocks outnumbered declining ones on the Tokyo Stock Exchange by 1910 to 1543 and 217 ended unchanged.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 9.01% to 27.71 a new 6-months high.

Crude oil for November delivery was down 0.77% or 0.55 to $71.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 0.74% or 0.60 to hit $80.18 a barrel, while the December Gold Futures contract rose 0.20% or 2.40 to trade at $1232.70 a troy ounce.

USD/JPY was up 0.31% to 112.13, while EUR/JPY rose 0.39% to 129.94.

The US Dollar Index Futures was down 0.06% at 94.71.

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Philippines stocks higher at close of trade; PSEi Composite up 0.87%

October 16, 2018, 08:35

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

At the close in Philippines, the PSEi Composite rose 0.87%.

The best performers of the session on the PSEi Composite were Megaworld Corp (PS:MEG), which rose 5.00% or 0.210 points to trade at 4.410 at the close. Meanwhile, Universal Robina Corp (PS:URC) added 3.93% or 5.20 points to end at 137.50 and Manila Electric Co (PS:MER) was up 3.16% or 11.00 points to 359.00 in late trade.

The worst performers of the session were First Gen Corp (PS:FGEN), which fell 3.43% or 0.54 points to trade at 15.22 at the close. Puregold Price Club Inc (PS:PGOLD) declined 2.38% or 1.000 points to end at 41.000 and San Miguel Corp (PS:SMC) was down 1.63% or 2.70 points to 163.30.

Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 100 to 83 and 50 ended unchanged.

Gold Futures for December delivery was up 0.19% or 2.30 to $1232.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.78% or 0.56 to hit $71.22 a barrel, while the December Brent oil contract fell 0.76% or 0.61 to trade at $80.17 a barrel.

CNY/PHP was down 0.16% to 7.8003, while USD/PHP fell 0.11% to 53.971.

The US Dollar Index Futures was down 0.05% at 94.72.

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UK Wage Growth Accelerates, Unemployment Rate Steady at 4%

October 16, 2018, 08:33

Investing.com - Pay growth in the UK accelerated at the fastest pace in nearly 10 years in August, while the unemployment rate remained steady, according to official data released Tuesday.

Average earnings, excluding bonuses, rose by an annual 3.1% in the three months to August, the Office of National Statistics reported. It was the fastest increase since Jan. 2009 and came in above expectations for growth of 2.9%.

Including bonuses, pay growth rose by an annualized 2.7%, the quickest growth since February. Analysts had expected the reading to remain steady at 2.6%.

The annual rate of inflation in the UK was 2.5% in August, indicating only a modest boost to workers spending power.

The unemployment rate held steady at 4.0% in August.

"People’s regular monthly wage packets grew at their strongest rate in almost a decade but, allowing for inflation, the growth was much more subdued. The number of people in work remained at a near record high, while the unemployment rate was at its lowest since the mid-1970s", said ONS head of labor market David Freeman.

The number of people in employment fell by 5,000 in the three months to August, compared to expectations for an increase of 11,000.

The claimant count, which measures the change in the number of people claiming unemployment benefits rose by 18,500 in the three months to September, from an upwardly revised 14,200 in the previous three month period.

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Dollar Rebounds From 1-Month Lows against Yen

October 16, 2018, 07:45

Investing.com - The dollar rebounded from one-month lows against the yen on Tuesday as a selloff in global equities markets eased, while the New Zealand dollar pushed higher after upbeat inflation data overnight.

USD/JPY was up 0.31% to 112.13 by 03:41 AM ET (07:41 AM GMT) after hitting a one-month trough of 111.61 on Monday.

The Japanese currency, sought by investors as a haven during bouts of market turmoil, weakened as major Asian stock markets rose overnight, but markets remained wary after a week of steep losses.

Stock markets have been hard hit after U.S. Treasury yields soared to their highest level since 2011 last week amid expectations that the Federal Reserve will keep raising interest rates, eroding the value of equities.

Concerns over the impact of trade conflict on the health of the global economy and fears over higher oil prices have also fueled the selloff.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, dipped 0.07% to 94.70.

Sentiment on the dollar was hit on Monday after data showing that U.S. retail sales barely edged higher in September, but the same report also indicated that consumer spending ended the third quarter with strong momentum.

The euro pushed higher, with EUR/USD rising 0.11% to 1.1592, but gains were held in check after Italy’s populist government approved its new budget, despite criticism from Brussels that it is in breach of European Union fiscal rules.

Sterling gained ground, with GBP/USD up 0.28% to 1.3187 as markets awaited the latest UK jobs report in the face of deadlocked Brexit negotiations.

The pound was also a touch higher against the euro, with EUR/GBP dipping 0.11% to 0.8791.

Meanwhile, the New Zealand dollar was stronger, with NZD/USD up 0.31% to 0.6569 after data overnight showing that inflation rose more strongly than expected in the third quarter.

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China stocks lower at close of trade; Shanghai Composite down 0.85%

October 16, 2018, 07:35

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

At the close in Shanghai, the Shanghai Composite declined 0.85% to hit a new 3-years low, while the SZSE Component index declined 1.95%.

The best performers of the session on the Shanghai Composite were Shanghai Laimu Electronics Co Ltd (SS:603633), which rose 10.04% or 1.020 points to trade at 11.180 at the close. Meanwhile, YanTai Yuancheng Gold Co Ltd (SS:600766) added 10.02% or 0.590 points to end at 6.480 and Bomin Electronics Co Ltd (SS:603936) was up 10.00% or 1.390 points to 15.290 in late trade.

The worst performers of the session were Shanghai Hongda Mining Co Ltd (SS:600532), which fell 10.06% or 0.490 points to trade at 4.380 at the close. Joincare Pharmaceutical Group Industry Co Ltd (SS:600380) declined 10.05% or 0.840 points to end at 7.520 and Shanghai Material Trading Co Ltd A (SS:600822) was down 10.02% or 1.050 points to 9.430.

The top performers on the SZSE Component were Goldleaf Jewelry Co Ltd (SZ:000587) which rose 10.13% to 2.50, Guangdong Golden Dragon Development Inc (SZ:000712) which was up 9.88% to settle at 8.01 and Xingyuan Environment Technology Co Ltd (SZ:300266) which gained 9.87% to close at 3.45.

The worst performers were Iflytek Co Ltd (SZ:002230) which was down 10.02% to 20.30 in late trade, Da An Gene Co Ltd of Sun Yat-Sen University (SZ:002030) which lost 10.01% to settle at 14.20 and Beijing Sinnet Technology Co Ltd (SZ:300383) which was down 10.01% to 12.94 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 1209 to 219 and 36 ended unchanged.

Shares in Joincare Pharmaceutical Group Industry Co Ltd (SS:600380) fell to 3-years lows; losing 10.05% or 0.840 to 7.520. Shares in Iflytek Co Ltd (SZ:002230) fell to 52-week lows; falling 10.02% or 2.26 to 20.30.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was down 0.67% to 28.32.

Gold Futures for December delivery was up 0.11% or 1.30 to $1231.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 0.43% or 0.31 to hit $71.47 a barrel, while the December Brent oil contract fell 0.38% or 0.31 to trade at $80.47 a barrel.

USD/CNY was up 0.06% to 6.9209, while EUR/CNY rose 0.18% to 8.0231.

The US Dollar Index Futures was down 0.06% at 94.71.

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