Home » Economy » +++ Stock ticker +++ – Wall Street starts slightly higher despite cyclone «Harvey» | News

+++ Stock ticker +++ – Wall Street starts slightly higher despite cyclone «Harvey» | News

Monday, August 28th, 2017 | Economy

The cyclone "Harvey" in Texas has only moderately busy the US stock exchanges at weekends. "Up to now it does not seem to hit the shares," said Andre Bakhos, managing director of the investment firm Janlyn Capital. The Dow Jones Index of Standard Values ​​recorded 0.2 percent higher at 21.849 points in the first few minutes. The broader S & P-500 rose 0.2 percent to 2448 counts. The index of the Nasdaq technology market also gained 0.2 percent to 6278 positions.
Investors focused on oil refineries, pipeline operators and insurers. DIY chain stores were in high demand. Investors are hoping that the recovery will boost their business after storm damage.
In addition, a large takeover in the pharma sector on the Wall Street caused a sensation. Thus, Gilead Sciences wants to buy the cancer specialist Kite Pharmaceuticals for approximately twelve billion dollars.
Novartis competition – US company Gilead buys Krebsspezialisten for 12 billion dollars https://t.co/myqCF2UwOv
– cash (@cashch) August 28, 2017
The Swiss equities market continues to decline in the afternoon on Monday afternoon. The leading index, SMI, remained below the 8,900 points mark throughout the morning. Continued decline in the SMI: trader declares the charges with the slightly attractive franc. In addition, the impact of the note meeting of Jackson Hole by the end of last week, which had been sobering under the line.
The Swiss Market Index (SMI) trades at 11.50 am 0.38% lower at 8'872.43 points. The 30 Swiss Leading Swiss Index (SLI), which does not contain the largest weightings, is 0.46% down on the previous year.
The blasts in the blue chips are limited. Only three titles – Novartis, SGS and Clariant – suffer losses of 1% or more. At Novartis (-1.1%) over the weekend study results aroused doubts about the potential of the new heart medication Ilaris.
With SGS (-1.1%) and Clariant (-1.0%) the storm "Harvey" is blamed for the losses. The Geneva Product Inspection Group is also active in the oil and gas sector. The storm has hit an important area in Texas with Texas. At Clariant, investors apparently wondered whether the Texas merger partner Huntsman had been affected.
Read the full stock market report from noon here.
Earnings have pushed the shares of U-Blox on Monday to the minus. The title of the GPS chip manufacturer broke into a weaker market by six percent to 177.10 francs. On Friday, sales after the publication of the semi-annual figures and a confident forecast had led to a price jump.
The strong euro weighs on: The European stock exchanges have linked their lethargy of the previous week on Monday. Investors still lacked ideas at the beginning of the week that could help the market in the midst of the much-cited "summer hole". The EuroStoxx50 stood at 0.334 percent in the morning at 3'426.79 points. With regard to the most important country exchanges, investors also hesitated in Paris. The French leading index CAC-40 -Index fell by 0.32 percent to 5'087.97 points.
Top and flop at EuroStoxx50 this morning:

From disappointment over the performances of Janet Yellen and Mario Draghi at the top of the note bankers summit in Jackson Hole, investors were covered with gold on Monday. The precious metal rose by 0.5 per cent to 1297 dollars per ounce. The US Fed Chairman and his colleague from the European Central Bank (ECB) have not sent clear signals, analyst Barnabas Gan told OCBC Bank. "This gives investors the reason to raise the gold price because of the uncertainty about monetary policy."
USD fell to the knees on Friday after Yellen speech; Euro jumps to 1.1941 – peak in 20 months. Your capital is at risk #EURUSD pic.twitter.com/uEs1tVPUQt
– ActivTrades Germany (@Activtrades) 28 August 2017
The Swiss Market Index starts trading negatively. According to disappointing students, the Novartis titles show the strongest discount. The Swiss Market Index (SMI) starts the new week at minus 0.5 percent and currently stands at 8863 points. The leading index is thus again falling below the 8,900 point mark, after having recorded in the previous week for the most part above this threshold. Traders refer to the Texas Hold'em meeting in Jackson Hole, which has delivered more questions than answers. In addition, the Novartis shares impacted the overall market after disappointing study data.
At the meeting of the central bankers on Friday, neither Fed President Janet Yellen nor ECB boss Mario Draghi had expressed their views on monetary policy, failing to meet the hopes of some experts. In addition, no negative comments were heard from Draghi on the currently strong euro exchange rate, which led the euro-dollar exchange rate to the highest level for two and a half years. The franc also weakened somewhat as a result of the euro.
According to the SMI, the shares of Novartis are the most significant (-1.3 percent). Over the weekend new studies have raised doubts about the potential of a new cardiac medicine. Although the drug Ilaris reduced the risk of heart attack in a Phase III study, there was at the same time an increased risk for the patient to die of infection.
The Swiss Re and Zurich insurance units (-0.5 percent) are also negative. The hurricane "Harvey" had been raging during the weekend in South Texas. Experts from the analysis service CoreLogic now reckon with insured property losses in billions. The "Wall Street Journal" tried to calm the investors meanwhile something: the insurers were financially so good that they would hit the hurricane not too hard, it said.
The lowest among the SMIs is the discount for Roche (-0.1 percent). The Group has received the Priority Review status from the US regulatory authority, FDA, and thus the assurance of an accelerated procedure for the drug Gazyva (Obinutuzumab) for the treatment of lymph gland cancer. According to Roche, the supplementary authorization application is based on the Gallium study, which showed a superiority to treatment with the medium Rituxan.
Aryzta (+0.3 percent) is now a prominent member of the Board of Directors. Jürgen Steinemann, who is known for his many years as chief chef of chocolate manufacturer Barry Callebaut, is to be elected to the committee.
Alpiq (not yet a course) has presented figures before the market. The electricity group suffered a surprisingly high loss in the first half of 2017. In addition, the partial sale of the hydropower portfolio announced in March 2016 is to be put on hold for the time being. In addition, there are definite figures for Ems Chemie (-1.2 percent) and a US license for Kuros (no course yet).
Asia's stock exchanges have begun the new week mixed. While in mainland China and Hong Kong the courses on Monday rose, they fell in Australia and South Korea. In Japan, they hardly came out of the spot.
Investors were waiting for news as to how strong cyclone "Harvey" hit US oil production. Violent winds and falls had severely devastated parts of Texas. Oil prices remained stable until recently.
The American bank note meeting in the US Jackson Hole, which took place at the end of last week, left little mark on the stock market.
The Nikkei 225 in Tokyo closed practically unchanged at 19'449.90 points. The Chinese CSI 300, which lists the most important values ​​of the continent, increased by 1.71 percent in late trading to 3,860.69 points.
The Swiss Market Index (SMI) fell by 0.4 percent in the pre-market, which was calculated by Julius Baer. Last week the leading index rose by 0.4 percent.
Roche is the only SMI-listed company (+0.2 percent). The US drug agency FDA has tested the Roche drug Gazyva in an accelerated procedure for use against previously untreated follicular lymphoma.
Novartis is clearly negative with minus 1.7 percent. New clinical trial results have raised doubts about the potential of a new heart drug from the pharmaceutical group.
The remaining stocks in the lead index range between minus 0.1 and minus 0.3 percent.
SWITZERLAND SWITZERLAND: $ SMI -0.42%. $ NOVN -1.7% (study), $ ROG + 0.2%. Other standard and secondary values ​​are posed without any conspicuousness.
– cashInsider (@cashInsider) August 28, 2017
The oil prices have shown unevenly on Monday. A barrel (159 liters) of the North Sea Brent for delivery in October cost 52.56 USD in the morning. That was 15 cents more than on Friday. The price of a barrel of the American variety West Texas Intermediate (WTI), however, fell by 17 cents to 47.70 dollars.
Why the next oil price spike may cripple the oil industry https://t.co/FS1CxCqct1 #energy #oilgascoal #carbonbubble #climatechange
– Matthew James (@MJ_Energy_Post) August 28, 2017
The impact of a severe cyclone in the oil production areas on the south coast of the USA had somewhat supported the prices for the week's start, according to market observers. Large parts of the South Texas had been flooded during the weekend by the tropical cyclone "Harvey" and President Donald Trump declared the affected region a disaster area.
According to the expert Mark Pervan of the Australian analysis house AME Group, however, the cyclone has not as much impact on oil prices as hurricanes in recent years. In the US, the focus of oil production has recently shifted increasingly to the interior of the country. The mining areas on the Gulf of Mexico have therefore lost importance for oil production in the country.
At the start of the week, the euro largely defended its profits on Friday night after the speech of US bank banker Janet Yellen and ECB President Mario Draghi. On Monday morning the European Community currency costs 1.1921 dollars and is thus as expensive as since the beginning of 2015 no more. On Sunday evening, the euro had even reached 1.1965 dollars, but could not quite keep this level. Before the speeches of the two top central bank representatives the currency had still cost 1.18 dollars.
Euro rises to 2-1 / 2-year high https://t.co/CUWluypmGD Reverse BUY EURUSD on corrective wave iv, Hold BUY Gold Bitcoin Holdsell GBPUSD
– CTASaham-Komoditi-FX (@andri_zakarias) 28 August 2017
The euro rose above the 1.14 Swiss franc mark on the Sunday evening, but it fell back slightly in the morning. Currently, one euro costs 1.1399 francs. In the meantime, the US dollar is trading slightly on Friday night with 0.9561 Swiss francs. Compared to Friday morning, this means a difference from a horse.
With the profits from the speeches of Yellen and Draghi, the euro continued its recent high-altitude flight. Six months ago, the price had moved in the direction of parity – that is, 1 dollar. Some experts, such as the analysts of Deutsche Bank and Goldman Sachs, had even seen it well below this mark because of the problems in the Eurozone and the interest rate reversal in the USA. However, since the multi-year stance of the beginning of March of 1.0341 dollars, the euro rose by about 15 percent.
The stock market in Tokyo has started with losses in the new week. A stronger yen and uncertainty about the impact of Hurricane "Harvey" on the US economy made it to investors. "The focus of investors has shifted over the weekend from Jackson Hole to the storm," said investment strategist Norihiro Fujito of Mitsubishi UFJ Morgan Stanley Securities. There were still no details on the storm, but the pictures indicated serious consequences.
The Nikkei index dropped 0.1 percent on Monday to 19,430 points. The broader topix also fell 0.1 percent to 1596 counts.
The euro continued to rise as ECB President Mario Draghi did not oppose the strength of the Euro at the Bankers' Meeting in Jackson Hole. At 1.1925 dollars, the European Community currency was worth as much as two and a half years ago. The dollar fell to 109.15 yen.
(Cash / AWP / Reuters)


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