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  1. #1021
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    Fairfax Media Acquires Revised $2.04 Billion Offer from TPG



    Fairfax Media Ltd, which is one of the biggest media companies in Australia, announced it has obtained a revised A$2.76 billion ($2.04 billion) cash offer led by American investment firm TPG Capital Management for all of the company.

    The offer from TPG and the Ontario Teachers' Pension Plan Board (OTPP) values the Australian newspaper publisher at A$1.29 per share, and compares with an initial proposal to purchase the firm's top mastheads, like The Sydney Morning Herald and The Australian Financial Review, as well as its property listings unit Domain for A$0.95 per share.

    Investors would be left with scrip exposure to the Fairfax radio division, regional and New Zealand titles, a stake in an online television streaming startup and its debt. The TPG consortium valued such assets at A$0.25 to A$0.30 per share. The offer represents a 12 percent premium to the publisher's A$1.07 closing price.

    If accepted, the offer will end Fairfax's plan to unlock shareholder value by offshooting it's profitable property listings unit, Domain.

    A TPG spokesperson has declined to comment on the topic.

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  2. #1022
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    Fxwirepro: Usd/sgd Hits Fresh 2-Week Low at 1.3965 Mark, Stay Bearish



    USD/SGD is currently trading around 1.3973 marks.

    It made intraday high at 1.3982 and low at 1.3965 levels.

    Intraday bias remains bearish till the time pair holds key resistance at 1.4046 marks. A daily close above 1.3982 will test key resistances at 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.

    Alternatively, a consistent close below 1.3982 will drag the parity down towards key supports at 1.3964/1.3919/1.3851/1.3775/1.3704/1.3646 levels respectively.

    Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take short position in USD/SGD around 1.3980, stop loss 1.4027 and target of 1.3919.

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  3. #1023
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    Tesla Shares Sink after Losing Morgan Stanley’s Rating Cut

    Morgan Stanley, one of Tesla's biggest and longtime bulls, downgraded the stock as it cited the increased projection of the carmakers' expenses and the competitive risk from well-capitalized rivals.

    Morgan Stanley analyst Adam Jonas, has been one of the biggest champion for the Tesla stock, visualizing offerings of a ride-for-hire service that could increase the value of the firm by two-fold. But now, the top auto analyst sees operating losses extending into the next year and project the company will burn through $3.1 billion of cash this 2017, up from the prior estimate of $2.3 billion.

    In a note to clients, Jonas stated they expect Tesla's larger and better capitalized rivals to launch strategies that will tackle sustainable transportation and movability.

    Jonas slashed Tesla's rating to “equalweight” from “overweight” but retained his $305 stock price target, causing its shares to fall by as much as 3.8 percent to $312.53. It was last trading down 2.6 percent to $316.46. With the downgrade, the electric carmaker's bull camp fell to just 37.5 percent of Wall Street with ratings on the stock.

    Currently, Elon Musk's company has has nine “buy” ratings, “10” hold ratings and 5 “sell” ratings. Tags: Industry, Investments, Share, Stocks, bonds

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  4. #1024
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    New Zealand Producer Price Index Continues to rise in Q1

    New Zealand producer prices continued to rise in the first quarter of this year. The producer output prices were up 1.4 percent sequentially, while the input prices were up 0.8 percent quarter-on-quarter, stated Statistics New Zealand. The producer output prices were mainly driven by increased prices of dairy products, whereas the increased crude oil prices drove up the input costs at oil refineries. On a year-on-year basis, producer output prices rose 4.1 percent, whereas input prices were up 4.2 percent.

    The prices paid by fuel manufacturers rose 43 percent in the year, owing to higher crude oil prices. Meanwhile, prices received by dairy cattle farmers and dairy product manufacturers in March rose 49 percent and 22 percent respectively.

    Meanwhile, the consumer price index rose 2.2 percent in the year to the March quarter. This was also driven by fuel prices.

    Read more: https://www.instaforex.com/forex-new...rise_in_q.html
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  5. #1025
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    Wall Street Mixed as Nasdaq Hits 3-Day Winning Streak



    U.S. stocks finished mixed as investors brushed off latest news coming from Washington. The S&P 500 and the Dow closed little changed after mixed economic data and retail earnings, as the Nasdaq touched another record close with the help from technology stocks.

    The Dow Jones industrial average slipped 0.01 percent to end at 20,979.75, as UnitedHealth led losses while Microsoft was the best performer. The S&P 500 dropped 0.07 percent to finish at 2,400.67, as utilities led nine sectors down and financials and information technology were the only gainers. The Nasdaq jumped 0.33 percent to end at 6,169.87.

    The S&P's financial sector closed the day with a 0.2 percent advance.

    Utilities were the S&P's largest decliner of the day with a 0.8 percent loss. UnitedHealth and Pfizer weighed on the S&P the most. Shares of Pfizer dropped 1.6 percent to $32.60 after Citigroup downgraded the drug developer's stock to “sell” from “neutral”.

    Technology provided the biggest boost to the S&P, climbing 0.5 percent, with an outsized gain from Microsoft which traded two percent higher.

    Home Depot contributed gains on the Dow after posting first-quarter earnings of $1.67 per share on revenue of $23.89 billion. Shares of Home Depot gained around 1.5 percent.

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  6. #1026
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    Dollar Tumbles on Trump’s Political Uncertainty

    The dollar pared gains from the post election rally that drove the currency to its highest level since 2002, in an indication that investors are losing more faith in the so-called Trump trade. The ICE U.S. dollar index, which tracks the dollar versus a basket of six peers, dropped 0.8 percent in late Wednesday in New York to 97.39. The greenback fell versus the Japanese yen, euro and the British pound. Just days ahead of the election of President Donald Trump, the dollar surged in a wide market rally.

    Several investors fear that political turmoil in Washington is wearing away the U.S. administration's ability to deliver on its tax-overhaul and fiscal-spending proposals. Such plans were highly anticipated to stimulate U.S. economic growth and also helped sent the greenback to a 14-year peak following the election.

    Hedge funds and other investors have pulled back wagers on a firmer dollar, which has fallen to its weakest level since early October.

    The dollar dropped two percent against the perceived safe-haven yen. It is the largest daily percentage fall since July 2016. Other assets seen as safe, which includes the Swiss franc and gold, have all gained.

    Markets are implying a 65 percent likelihood that the Federal Reserve will hike interest rates at its next meeting in June, CME Group data revealed.

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  7. #1027
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    Fxwirepro: Eur/krw Remains Well supported Above 1,251 Mark, sustained Close Above Targets 1,287 Mark

    EUR/KRW is currently trading around 1,252 mark.

    Pair made intraday high at 1,252 and low at 1,251 levels.

    Intraday bias remains neutral till the time pair holds key support at 1,251 mark.

    A daily close below 1,251 will drag the parity down towards key supports around 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.

    Alternatively, a sustained close above 1,251 will take the parity higher towards key resistances around 1,260, 1,274, 1,287 and 1,304 marks respectively.

    Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    Seoul shares open up 0.08 pct at 2292.90. We prefer to take long position in EUR/KRW around 1,251, stop loss at 1,240 and target of 1,260/1,287.

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  8. #1028
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    Wall Street Gains, Rebounds from Largest Sell-Off in the Year

    EUR/KRW is currently trading around 1,252 mark.

    U.S. equities advanced, recovering from their worst day of the year, with investors pricing in President Donald Trump's chances of proceeding with his pro-growth agenda.

    Investors remain focused on Washington following reports that Trump attempted to interfere with a probe into former National Security Adviser Michael Flynn's relations with Russia.

    The Dow Jones industrial average climbed 0.27 percent to 20,663.02, as Wal-Mart led gains and Cisco lagged behind. The S&P 500 rose 0.37 percent to close at 2,365.72, with telecommunications leading nine sectors up while energy led losses. The Nasdaq composite was up 0.73 percent at 6,055.13.

    The Telecommunications Services sector was the S&P's largest percentage advancer with a 1.2 percent gain. U.S. telecom regulators voted to proceed with a Republican plan to reverse a 2015 “net neutrality” order. The S&P 500's technology sector rebounded 0.6 percent.

    Among shares active on corporate news, Cisco Systems dropped 7.2 percent after the firm issued weak guidance. Shares of Wal-Mart climbed 3.2 percent at $77.54 after its quarterly earnings exceeded analysts' forecasts.


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  9. #1029
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    Fxwirepro: South Korean Won Marginally Higher Despite Lower Than expected Ppi Growth Data



    EUR/KRW is currently trading around 1,249 mark.

    Pair made intraday high at 1,251 and low at 1,248 levels.

    Intraday bias remains neutral till the time pair holds key support at 1,250 mark.

    A daily close below 1,250 will drag the parity down towards key supports around 1,242, 1,234, 1,225, 1,218, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.

    Alternatively, a sustained close above 1,250 will take the parity higher towards key resistances around 1,260, 1,274, 1,287 and 1,304 marks respectively.

    Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

    Seoul shares open up 0.53 pct at 2300.68.

    South Korea’s April PPI growth m/m decrease to -0.1 % vs previous 0.0 % (revised from -0.1 %).

    South Korea’s April PPI growth y/y decrease to 4 % vs previous 4.3 % (revised from 4.2 %).

    We prefer to take short position in EUR/KRW only below 1,247, stop loss at 1,260 and target of 1,240/1,234.

    News are provided byInstaForex.

  10. #1030
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    Subaru Plans to Spend $1.2 Billion on R&D, Considers Electric Vehicles



    Subaru Corp. is weighing on electric versions of its current models for the company's first venture into technology, as it looks into battery-powered vehicles in the face of tightening emissions rules. The Japanese automaker is planning to make record investments in research and development during this financial year. It is considering installing electric powertrains in existing models instead of producing an all-new vehicle, according to Chief Executive Officer Yasuyuki Yoshinaga.

    The decision will provide Subaru the advantage of capitalizing on its reputation for safety while also removing the need to team up with another automaker, Yoshinaga said.

    Subaru aims to spend more on electrification than other technologies as it quickly moves into plug-in a hybrid model to market in 2018 and an all-electric vehicle by 2021. The Japanese company is budgeting 134 billion yen ($1.2 billion) on research and development in the 12 months through March 2018.

    Other big Japanese automakers have also stepped up efforts to produce electric vehicles. Toyota Motor Corp. is planning to spend 1.05 trillion yen on R&D while Honda Motor Co. is aiming to invest 750 billion yen.

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  11. #1031
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    Euro Area Manufacturing Pmi Index Likely to have dropped Slightly in May



    Manufacturing industry globally has been rebounding from quite a subdued performance recorded in the last few years. The markets would be able to measure if the recent improvement in the manufacturing continues to be in place after the flash manufacturing PMIs are released for the euro area and Germany.

    In April, the euro area manufacturing PMI was at a high of 56.7 in April. According to consensus expectations, the manufacturing PMI is expected to have dropped slightly to 56.5 in May. The manufacturing PMI has been gradually improving in the euro area since August 2016. In the meantime, the German manufacturing PMI is expected to have come down a bit to 58 in May from April’s reading of 58.2. If the projections are correct, it would be the second straight drop in the index in 2017.

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  12. #1032
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    Gold Holds on to Gains, Supported by US Political Concerns



    Gold prices were steady on Tuesday in spite of the explosion at a concert in the English city of Manchester which killed nearly 19 people in what British police said was being treated as a terrorist incident.

    The precious metal has been lifted as the dollar fell versus the euro amid political uncertainty in the United States due to the controversies surrounding President Donald Trump.

    Spot gold rose 0.1 percent at $1,261.62 an ounce. U.S. gold futures were little changed at $1,261 per ounce. Spot gold gained 2.2 percent the previous week as the uproar on Trump's alleged links to Russia and his dismissal of former Federal Bureau of Investigation chief James Comey have raised doubts on his ability to push through pledged fiscal stimulus.

    Holdings in SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, climbed 0.21 percent to 852.48 tonnes.

    Investors' net long position in COMEX gold has dropped to a two month-low, according to data from the U.S. Commodity Futures Trading Commission (CFTC).

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  13. #1033
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    New Zealand Has NZ$578 Million Trade Surplus

    New Zealand saw a merchandise trade surplus of NZ$578 million in April, Statistics New Zealand said on Wednesday.

    That beat forecasts for a surplus of NZ$267 million following the NZ$332 million surplus in March.

    Exports climbed 9.8 percent on year to NZ$4.75 billion - also exceeding expectations for NZ$4.40 billion and up from NZ$4.65 billion in the previous month.

    Imports gained an annual 4.9 percent to NZ$4.17 billion versus forecasts for NZ$4.10 billion and down from NZ$4.31 billion a month earlier.

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    HP Inc. Lifts Profit Guidance as PC, Printer Units Outperform

    HP Inc.'s sales strongly performed in the second quarter, posting growth in both PC and printer units for the first time in over five years.

    The company also reported better-than-anticipated revenue on stronger consumer demand, prompting it to lift its annual profit projection. Shares of the firm climbed 3.6 percent to $19.7 in extended trading.

    Revenue from the personal computer business surged 9.6 percent to $7.66 billion in the period ending April 30. The unit represents almost two-third of the firm's overall sales. The firm's printer and copier division also posted its first increase in revenue since 2011, driven partially by the strong demand for its handheld photo printer, HP Sprocket.

    Total revenue jumped 6.9 percent to $12.4 billion during the second quarter, as strong consumer demand caused a 12 percent jump in laptop deliveries. Earnings before adjustments registered at 40 cents per share, marginally higher than the expected 39 cents per share.

    The firm also lifted its projection for third-quarter profit that beat estimates and also raised its outlook for the entire fiscal year. Full-year adjusted profit is seen to clock in between a range of $1.59-$1.66 per share, exceeding average estimates of $1.62 per share.

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  15. #1035
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    Gold Prices End Lower as Dollar Stabilizes

    Gold Prices eased as the dollar pulled away from lows and steadied, while world stock markets reached fresh highs, reversing some gains from the prior session when U.S. Federal Reserve meeting minutes indicated it is more cautious on pulling the trigger on another rate hike.

    Spot gold ended ended down 0.2 percent at $1, 255.91 per ounce, while U.S. gold futures ended up 0.3 percent at $1, 256 .50.

    Economists anticipate the gold's resilience to fluctuate in the following weeks, citing hints in the Fed minutes that further monetary policy tightening is on the table as early as June.

    Minutes of the May policy meeting showed policymakers generally agreed that they should postpone raising rates until it is sure that a recent U.S. economic slump is only transitory. Despite the cautious tone, majority of the rate-setting committee said a hike is coming soon.

    Federal fund futures indicated traders are pricing in an 83 percent odds of a quarter percentage point rate hike during the Fed's june meeting.

    Bets for U.S. interest rates to increase next month and possibly rise once more in the year have helped kept gold prices under $1,300.

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    Lenovo Turns to Pricier Models to Stop Bleeding in its Smartphone Business

    Chinese multinational technology firm Lenovo Group Ltd is currently relying on a push upmarket to stop the losses incurred in its smartphone business following its acquisition of Motorola three years ago.

    The company announced that it will reorganize its China business which is aimed at sharpening the PC brand's consumer focus amid the effort to strengthen its mobile branding and also shift the focus to more expensive models under the Moto brand.

    The group's smartphone concerns began after it acquired Motorola Mobility from Google for $2.9 billion back in 2014 but have since then struggled to integrate the assets. Although the company returned to profit in the year to March, the group's phone problems worsened as marketing expenses for new products and key components costs increased.

    In its home base of China, Lenovo's shipments have domestically dropped 80 percent year-on-year or 55 percent quarter-on-quarter during the first three months of 2017, according to Canalys data.

    However, shipments in Brazil climbed 56 percent in the first quarter of this year according to Lenovo, exceeding India as its largest market, where volumes rose 34 percent.

    Chairman Yang Yuanqing said Lenovo is poised to reach its goal of turning around the mobile business by the second half of the fiscal year starting in April. He added that the company will also have three more telecom partners in the U.S. in 2017 as its performance in Western Europe continues to improve.

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    Japan Industrial Output Rises 4.0% In April

    Industrial output in Japan advanced 4.0 percent on month in April, the Ministry of Economy, Trade and Industry said in Wednesday's preliminary reading.

    That was shy of expectations for an increase of 4.2 percent following the 1.9 percent decline in March.

    On a yearly basis, industrial production climbed 5.7 percent - again missing forecasts for a gain of 6.1 percent following the 3.5 percent increase in the previous month.

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  18. #1038
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    Japan Capex Jumps 4.5% In Q1

    Capital spending in Japan was up 4.5 percent on quarter in the first three months of 2017, the Ministry of Finance said on Thursday.

    That beat forecasts for an increase of 4.0 percent following the 3.8 percent gain in the previous three months.

    Excluding software, capex climbed 5.2 percent - again exceeding expectations for 4.1 percent and up from 3.3 percent in Q4.

    Company profits surged 26.6 percent after jumping 16.9 percent three months earlier, while company sales climbed 5.6 percent - up from 2.0 percent in Q4.

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    Australia Q1 Inventories Jump 1.2% On Quarter

    Inventories in Australia were up a seasonally adjusted 1.2 percent on quarter in the first three months of 2017, the Australian Bureau of Statistics said on Monday.

    That beat forecasts for a rise of 0.5 percent following the 0.3 percent gain in the previous three months.

    Inventories were up 2.5 percent on year. Company operating profits advanced 6.0 percent on quarter - also exceeding expectations for 5.0 percent but down from 20.1 percent in the three months prior.

    Profits were up 39.7 percent on year.

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    Dollar Nurses Losses after Weak U.S. Data, Pound Slips after London Attacks

    The dollar came close near a seven-month low touched after latest U.S. jobs growth in May fell short of expectations while terror attacks in London which left nearly seven people dead and 48 injured ahead of the national election dented the sterling.

    The dollar index against a basket of six major currencies touched its lowest level since the November election. It last stood little changed in early Asian trading at 96.736, but not far from Friday's low of 96.654, its weakest since Nov. 9.

    The sterling inched down, under pressure after the third terrorist attack in Britain. It fell as much as 0.3 percent against the dollar. Sterling trimmed losses to trade 0.2 percent lower at $1.2871 early on Monday.

    The pound was battered over the past two weeks with polls showing a tightening race, which raises the possibility of a hung parliament. Leveraged clients await the results of new polls taken after the incident, according to a trader.

    The greenback was stable at 110.40 yen, after slipping 0.8 percent on Friday.

    The U.S. 10-year Treasury yield was at 2.1547 on Monday, having dropped from Thursday's close of 2.217 before the jobs data was released.

    The euro was down 0.1 percent to $1.12745 on Monday, holding on to most of Friday's 0.6 percent gain.

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