Wednesday, August 17th, 2016

 

Stocks fall as investors take profits ahead of Fed minutes

Stocks fall as investors take profits ahead of Fed minutes

NEW YORK (Aug 17): Stocks around the globe turned lower on Wednesday as investors sold equities, ahead of the release of minutes from the Federal Reserve’s July meeting a day after two Fed officials said U.S. short-term interest rates could rise as soon as next month.

The Fed left benchmark short-term U.S. rates unchanged at its last meeting in July but said near-term risks to the economy had diminished, leaving the door open for a possible rate hike this year.

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Source: The Edge Markets


Wall St lower as investors cautious ahead of Fed minutes

NEW YORK, Aug 17 — US stocks were trading at their lowest in one week today as investors held off from making big bets ahead of the release of the minutes of the Federal Reserve’s July policy meeting. The Fed left interest rates unchanged at… Source: The Malay Mail Online


Paramount Corp, MRCB, Ranhill, Amway, Maybulk, Pestech, Malakoff, MFM, Hume Industries, Classic Scenic and KLK

Paramount Corp, MRCB, Ranhill, Amway, Maybulk, Pestech, Malakoff, MFM, Hume Industries, Classic Scenic and KLK

KUALA LUMPUR (Aug 17): Based on corporate announcements and news flow today, companies that might be in focus tomorrow (Thursday, Aug 18) include: Paramount Corp, MRCB, Ranhill Holdings, Amway (M) Holdings, Malaysian Bulk Carriers (Maybulk), Pestech International, Malakoff Corp, Malayan Flour Mills (MFM), Hume Industries, Classic Scenic and Kuala Lumpur Kepong (KLK).

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Source: The Edge Markets


Aetna threatened to quit Obamacare if deal blocked, letter shows

Aetna threatened to quit Obamacare if deal blocked, letter shows

(Aug 17): Aetna Inc warned antitrust officials more than a month ago that it would pull out of Obamacare’s government-run markets for health insurance, if the U.S. attempted to block its US$37 billion merger with Humana Inc.

Source: The Edge Markets


Destini sees 3.11% stake cross off-market

Destini sees 3.11% stake cross off-market

KUALA LUMPUR (Aug 17): Aviation and maritime maintenance, repair and overhaul (MRO) group Destini Bhd saw 31 million shares, worth RM19.22 million, exchange hands off-market today. The 3.11% stake crossed in a single direct trade at 62 sen.

At press time, no announcement has been made that identifies the seller of the shares. Interestingly, the shares were sold at a 15.6% discount to Destini’s closing price of 73.5 sen a piece on the same day.

Destini’s share price has rallied since end-June, rising 31.25% since last month.

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Source: The Edge Markets


Britons’ confidence in economy falls after Brexit vote – TNS poll

Britons' confidence in economy falls after Brexit vote - TNS poll

LONDON (Aug 17): The British public’s confidence in the economy has fallen sharply since the vote to leave the European Union, according to an opinion poll published on Thursday.

Thirty-three percent of Britons think the economy has worsened compared with a year ago, up 11 points from April, pollster TNS said.

A lack of confidence can cause people to stop spending, which hurts the economy and can lead to a self-perpetuating cycle.

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Source: The Edge Markets


U.S. crude down ahead of inventory data; OPEC speculation lingers

U.S. crude down ahead of inventory data; OPEC speculation lingers

NEW YORK/LONDON/SINGAPORE (Aug 17): U.S. crude futures fell nearly 1% on Wednesday ahead of important inventory data, while Brent steadied near 5-week highs on speculation that the world’s crude producers might still be able to strike a deal to support the market.

Analysts expect the U.S. Energy Information Administration to announce a fourth straight weekly rise in domestic crude stockpiles and draws in gasoline and distillates for the week ended Aug 12, in data due at 10:30 a.m. EDT (1430 GMT).

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Source: The Edge Markets


Wall Street lower ahead of Fed minutes

Wall Street lower ahead of Fed minutes

BENGALURU (Aug 17): Wall Street was lower on Wednesday as investors awaited the release of the minutes of the Federal Reserve’s July policy meeting.

The Fed left interest rates unchanged at its meeting last month but said near-term risks to the economy had diminished, leaving the door open for a possible rate hike this year.

Investors will parse the minutes, due at 2:00 p.m. ET (1800 GMT), for hints on when the Fed would next raise rates, in light of New York Fed President William Dudley’s hawkish comments on Tuesday.

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Source: The Edge Markets


Indonesian crewman swims to freedom from militants in Philippines

Indonesian crewman swims to freedom from militants in Philippines

MANILA (Aug 17): An Indonesian tugboat crewman escaped from his Islamist militant captors in the Philippines on Wednesday by swimming out to sea, after the militants threatened to cut his head off, a Philippine army spokesman said.

Members of the Islamic State-linked Abu Sayyaf group captured the Indonesian, Mohammad Safyan, 28, and six other Indonesian seamen from their boat, as it was passing through waters off southern Philippine islands on June 23.

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Source: The Edge Markets


Norway’s oil fund pares UK property portfolio after Brexit vote

OSLO (Aug 17): Norway’s US$893-billion sovereign wealth fund cut the value of its UK property portfolio by 5%, after Britain’s vote to leave the EU, and is concerned at the prospect that Brexit might limit free movement of goods, services and people, it said on Wednesday.

The world’s largest sovereign fund is one of Britain’s biggest foreign investors, owning shares in most top UK companies and holding US$11 billion in government bonds. It co-owns Regent Street, one of London’s premier shopping streets.

Source: The Edge Markets