Tuesday, April 18th, 2017

 

US stocks down as Goldman earnings disappoint

NEW YORK, April 18 — US stocks followed European equities lower, while the pound soared and UK shares tanked after British Prime Minister Theresa May called for surprise early elections to strengthen her hand in Brexit negotiations. Treasuries…


May’s election gamble offers longer-term turnaround for sterling, but at FTSE’s expense

LONDON, April 18 — Running contrary to the norm on shock election announcements, the pound’s steep gains today point to hope among investors that the June poll may stabilise domestic UK politics as the country faces its biggest challenges…


In rare fumble, Goldman stuns Wall Street with weak trading

NEW YORK, April 18 — In a rare fumble for what is usually a market-savvy Wall Street bank, Goldman Sachs Group Inc missed earnings expectations today due to a drop in trading revenue even as its rivals reported major trading gains. Goldman,…


Volkswagen brand recovery helps to power Volkswagen profit rise

FRANKFURT, April 18 — Volkswagen reported a 28 per cent jump in first-quarter operating profit, helped by a return to earnings growth at its core VW brand which has struggled to recover from the German carmaker’s diesel emissions scandal….


Sarawak to have methanol plant by 2021

KUALA LUMPUR, April 18 — Sarawak will undertake a methanol and methanol derivatives project with the first plant worth US$800 million (US$1=RM4.40)  expected to be ready by 2021, Chief Minister Datuk Amar Abang Johari Abang Openg said. The…


Stocks dip as North Korea, France keep investors on edge

LONDON, April 18 — Shares and the dollar fell today as a snap general election call in Britain added to a lengthening list of uncertainties for investors already on edge over tensions simmering from North Korea to France. Wall Street also…


Ringgit lower agains US dollar on falling crude oil prices

KUALA LUMPUR: The ringgit reversed yesterday's gains to close lower against the US dollar today, mainly dragged down by the weak crude oil prices.

At 6pm, the local unit stood at 4.4090/4120 against the greenback compared with Monday's close of 4.4030/4060.

A dealer said crude oil prices fell on Tuesday on expectation of a rising US shale production which was slated to grow by 124,000 barrels per day next month.

It was reported that global benchmark Brent crude oil futures dropped by 26 US cents to US$55.10 per barrel, and the US West Texas Intermediate crude oil futures hit the lowest level since April 10 and traded 21 US cents lower at US$52.44 (RM243) per barrel today.

“The decline in the global crude oil prices would hamper the country's revenue from oil and gas sector, and therefore, it would diminish investors' interest towards the local note,” he said.

Besides, the dealer said, news on US Treasury Secretary Steven Mnuchin's support of US President Donald Trump's strong US dollar view also resulted in a steady greenback against its peers.

“Mnuchin agreed that the stronger US dollar in the short term would hurt exports, but it would post a positive impact if the currency strengthens over the long term,” he was cited in a news report as saying.

Meanwhile, the ringgit was traded mixed against a basket of other major currencies.

It fell against the British pound to 5.5355/5410 from Monday's close of 5.5244/5300 and was traded lower against the euro at 4.6978/6028 from 4.6782/6818 yesterday.

However, the ringgit appreciated against the Singapore dollar to 3.1497/1530 from 3.1542/1575 on Monday and rose against the yen to 4.0539/0581 from 4.0648/0687 previously. — Bernama


Goldman Sachs quarterly profit surges 80pc

NEW YORK, April 18 — Goldman Sachs Group Inc reported an 80 per cent jump in quarterly profit as the Wall Street bank benefited from a pickup in global equity and debt offerings. Net income applicable to common shareholders jumped to…


Ringgit lower against US dollar on falling crude oil prices

KUALA LUMPUR, April 18 — The ringgit reversed yesterday’s gains to close lower against the US dollar today, mainly dragged down by the weak crude oil prices. At 6pm, the local unit stood at 4.4090/4120 against the greenback compared with…


Saudi oil exports drop to 2015 low as kingdom sticks to cuts

DUBAI, April 18 — Saudi Arabia, the world’s largest crude shipper, trimmed exports to a 21-month low in February as local refineries took advantage of more abundant supplies and processed a record amount of crude. Oil exports fell to 6.95…