08272016Sat
Last update: Sat, 27 Aug 2016 12am

Americas

Markets - Equity - Americas

US equity fund managers see reason to worry ahead of September NEW YORK: The rally in US stocks since late June is prompting some mutual fund managers to prepare for a rocky September. In part, the concerns are seasonal: September has seen more monthly declines of 5 percent or more in the S&P 500 than any other month since 1945 and is tied with August for the worst month in average returns overall, according to S&P Capital IQ. Poor corporate earnings or outlooks for the upcoming year, mutual funds selling before the end of their fiscal years and reduced capital inflows all work against the stock market in September, said Sam Stovall, US equity strategist at S&P Global Market Intelligence. Though volatility as measured by the CBOE Volatility index has fallen by half since late June, there are several triggers that could send the US stock market down by 5 percent or more in September after reaching a string of record ...

Markets - Equity - Americas

TSX rises to 1-week high as bank earnings support financials TORONTO: Canada's main stock index rose to a one-week high on Tuesday, led by financial shares after one of the country's major banks reported better-than-expected earnings, while lower oil prices weighed on energy stocks.Bank of Montreal rose 2.5 percent to C$86.50. Canada's fourth largest bank reported quarterly results which beat analysts' expectations, benefiting from strength in its commercial banking and capital markets businesses.Gains for bank stocks helped drive the financials group 0.9 percent higher, while ...

Markets - Equity - Americas

US stocks flat; oil, Treasury yields fall as investors await Fed NEW YORK: US stocks and oil edged lower while US Treasury yields fell on Monday on expectations the Federal Reserve will signal this week that it is preparing to raise US interest rates.An upbeat assessment of the US economy's strength from Fed Vice Chairman Stanley Fischer on Sunday was viewed as raising the prospect of Fed Chair Janet Yellen flagging a rate rise at a meeting with world central bankers on Friday. Treasury yields rose ...

Markets - Equity - Americas

Wall St flat as biotechs offset energy NEW YORK: US stocks were little changed on Monday as a drop in oil prices that weighed on the energy sector was offset with a strong showing by biotech stocks. The Dow Jones industrial average fell 22.46 points, or 0.12 percent, to 18,530.11, the S&P 500 lost 1.2 points, or 0.05 percent, to 2,182.67 and the Nasdaq Composite added 6.23 points, or 0.12 percent, to 5,244.60. Copyright Reuters, 2016 ...

Markets - Equity - Americas

TSX up despite commodity weakness; Couche-Tard, Valeant jump TORONTO: Canada's main stock index rose on Monday as Alimentation Couche-Tard Inc jumped after the convenience store operator bought a US chain in an expansion move and drugmaker Valeant Pharmaceuticals rose after it hired a new chief financial officer. Lower oil and metal prices weighed on energy and mining stocks. Couche-Tard jumped 7.5 percent to C$66.78 after the company said it would buy US chain CST Brands Inc in a roughly $4.4 billion deal. "They're ...

Markets - Equity - Americas

Brent slides under $50 as Iraq moves to boost output NEW YORK: World oil prices slid Monday, slamming the brakes on last week's rally as events in Nigeria and Iraq pointed to a possible surge in supplies.in London, trade on Brent North Sea crude for delivery in October slumped $1.72 from Friday to $49.16 a barrel.In New York trade, US benchmark West Texas Intermediate for September delivery shed $1.47 to $47.05 a barrel.The fall came as Iraq signaled a likely increase in output from Kirkuk's ...

Markets - Equity - Americas

Medivation surges on Pfizer takeover as US markets stay flat NEW YORK: Cancer drugmaker Medivation on Monday gained nearly 20 percent after the announcement it would be bought by Pfizer, but Wall Street stocks were otherwise generally flat.The Dow Jones Industrial Average closed down 0.1 percent at 18,529.42 while the S&P 500 fell less than 0.1 percent to 2,182.64.The tech-heavy Nasdaq, where Medivation is listed, rose 0.1 percent 5,244.60 Chris Low of FTN Financial said the markets were in wait-and-see mode, with a lack of ...