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MIDEAST STOCKS-Saudi succession, positive Q4 results may lift Gulf

After the death of King Abdullah at the weekend, his successor King Salman pledged continuity in energy and foreign policies and appointed younger men as his heirs, settling the succession issue for years to come. Some analysts think the Saudi succession could benefit the stock market because King Salman will face pressure to ensure public support with state sector wage increases and other populist steps that could accelerate the consumer spending boom. Stocks benefiting from this would include consumer-oriented firms Jarir Marketing, United Electronics Co and Fawaz Alhokair Co, as well as banks such as Al Rajhi if they are permitted by regulators to loosen consumer credit, Exotix said. The kingdom's market was closed on Sunday following King Abdullah's death, along with bourses in Bahrain, Kuwait and Oman.

Bank of England's Forbes hints rates could rise sooner than expected - WSJ

Pedestrians walk past the Bank of England in the City of London(Reuters) - Interest rates in Britain may need to start rising sooner than many expectations, Kristin Forbes, a member of the Bank of England's Monetary Policy Committee, said in an interview with the Wall Street Journal. Healthy growth in the United States and low oil prices could trigger consumption and investments in the UK that would help the cause for hiking interest rates sooner than market expectations by mid-2016, Forbes told the Journal. Tumbling oil prices in the UK have brought the inflation rate to its lowest in more than a decade, which would further bring down interest rates in the near term. The Bank of England has the ability and the duty to return usually low British inflation to its 2 percent target within the next two years, Forbes said.


Eyes on Fed after ECB, other bank stimulus moves

Detail from the front of the United States Federal Reserve Board building is shown in WashingtonBy Caroline Valetkevitch NEW YORK (Reuters) - The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Thursday's larger-than-expected stimulus package from the ECB lifted U.S. stocks, helping indexes post gains for the week after three straight weeks of losses.


Anglo American units lower earnings outlooks

People walk past a board outside the Anglo American offices in JohannesburgBy Ed Stoddard JOHANNESBURG (Reuters) - Two units of global mining group Anglo American flagged sharp falls in their full-year earnings on Friday, underscoring the impact of labour unrest and falling prices. Anglo's shares shed over 2.5 percent after the news from South African-based Anglo American Platinum and Kumba Iron Ore. Anglo, which has lagged its peers for years, is already struggling and in December warned of a delay in reaching a return on capital target. Its platinum unit Amplats said it expects full-year headline earnings to fall between 40 and 55 percent as it still counts the costs of a five-month strike. Amplats said in December headline earnings were likely to fall by at least 20 percent, without specifying the depth of any drop.


Rupee closes 27 paise stronger at 61.44 per dollar

The Indian rupee on Friday strengthened against the US dollar after the European Central Bank (ECB) announced larger-than-expected measures to stimulate the region's sagging economy. The local currency largely mirrored the stock market, while strength in other Asian currencies boosted the sentiment. Most of the Asian currencies ended higher against the dollar. The Taiwan dollar was up 0.46%, Indonesian rupiah 0.23% higher, Japanese yen was up 0.14%, Philippines peso rose 0.11%, South Korean won increased 0.1%, Malaysian ringgit rose 0.03% against the dollar.

Wall St Week Ahead - Eyes on Fed after ECB, other bank stimulus moves

Man carries an umbrella in the rain as he passes the New York Stock ExchangeBy Caroline Valetkevitch NEW YORK (Reuters) - The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Thursday's larger-than-expected stimulus package from the ECB lifted U.S. stocks, helping indexes post gains for the week after three straight weeks of losses.


McDonald's earnings fall; changes afoot to woo customers

This Sept. 5, 2014 photo shows a McDonald's restaurant in New York's Times Square. McDonald's reports quarterly financial results on Friday, Jan. 23, 2015. (AP Photo/Mark Lennihan)NEW YORK (AP) ? McDonald's isn't lovin' it, and it's going to do something about it.


Stocks fall, snapping 4-day winning streak; UPS slumps

Trader Daniel Ryan works on the floor of the New York Stock Exchange Friday, Jan. 23, 2015. The stock market finished lower, snapping a four-day winning streak, as U.S. companies report mixed quarterly results. The Dow Jones industrial average dropped 141 points, or 0.8 percent, to 17,672. (AP Photo/Richard Drew)NEW YORK (AP) ? A batch of mixed earnings reports Friday helped push the stock market to its first day of losses this week.


 
 
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