Connect with us

Stock Markets

Germany stocks higher at close of trade; DAX up 1.06%

Published

on


© Reuters Germany stocks higher at close of trade; DAX up 1.06%

Investing.com – Germany stocks were higher after the close on Monday, as gains in the Utilities, Retail and Telecoms sectors led shares higher.

At the close in Frankfurt, the DAX gained 1.06%, while the MDAX index gained 1.56%, and the TecDAX index climbed 0.41%.

The best performers of the session on the DAX were MTU Aero Engines NA O.N. (ETR:MTXGn), which rose 5.29% or 9.05 points to trade at 180.25 at the close. Meanwhile, Beiersdorf AG O.N. (ETR:BEIG) added 4.28% or 3.84 points to end at 93.56 and HelloFresh SE (ETR:HFGG) was up 4.05% or 1.14 points to 29.27 in late trade.

The worst performers of the session were Qiagen NV (ETR:QIA), which fell 2.83% or 1.17 points to trade at 40.22 at the close. Brenntag AG (ETR:BNRGn) declined 2.24% or 1.52 points to end at 66.20 and Sartorius AG VZO O.N. (ETR:SATG_p) was down 1.59% or 4.90 points to 303.20.

The top performers on the MDAX were Deutsche Lufthansa AG (ETR:LHAG) which rose 7.62% to 6.43, Commerzbank AG O.N. (ETR:CBKG) which was up 4.48% to settle at 8.21 and Encavis AG (ETR:ECVG) which gained 3.96% to close at 17.87.

The worst performers were Gerresheimer AG (ETR:GXIG) which was down 4.19% to 68.55 in late trade, Rational AG (ETR:RAAG) which lost 3.22% to settle at 556.50 and Befesa SA (ETR:BFSA) which was down 1.49% to 52.95 at the close.

The top performers on the TecDAX were Verbio Vereinigte Bioenergie AG (ETR:VBKG) which rose 5.97% to 47.60, CompuGroup Medical AG O.N. (ETR:COP1n) which was up 5.28% to settle at 40.28 and Morphosys AG O.N. (ETR:MORG) which gained 4.43% to close at 19.57.

The worst performers were Qiagen NV (ETR:QIA) which was down 2.83% to 40.22 in late trade, Suse SA (ETR:SUSEG) which lost 1.64% to settle at 22.80 and Sartorius AG VZO O.N. (ETR:SATG_p) which was down 1.59% to 303.20 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 471 to 222 and 69 ended unchanged.

Shares in Befesa SA (ETR:BFSA) fell to 52-week lows; down 1.49% or 0.80 to 52.95.

The DAX volatility index, which measures the implied volatility of DAX options, was down 6.93% to 27.52.

Gold Futures for August delivery was down 0.15% or 2.80 to $1,837.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.96% or 1.04 to hit $109.03 a barrel, while the August Brent oil contract rose 1.12% or 1.27 to trade at $114.39 a barrel.

EUR/USD was unchanged 0.15% to 1.05, while EUR/GBP unchanged 0.01% to 0.86.

The US Dollar Index Futures was down 0.28% at 104.20.

Stock Markets

China Evergrande faces winding-up lawsuit for $110 million deal obligation

Published

on


© Reuters. The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021. REUTERS/Aly Song

(Reuters) – China Evergrande Group said on Tuesday a winding-up petition was filed against it by investment holding firm Top Shine Global Ltd in Hong Kong for not fulfilling a financial obligation of HK$862.5 million ($109.91 million).

On Monday, Reuters reported that Top Shine Global, an investor in Evergrande’s unit Fangchebao (FCB), had filed the petition saying the embattled property developer had not obliged to a deal to repurchase shares it bought in FCB.

Top Shine in March last year bought 0.46% of FCB, a Chinese online real estate and automobile marketplace, for HK$750 million.

Evergrande in an exchange filing said it will oppose the petition, adding, it would not impact its offshore debt restructuring plan in works that is slated to be announced before the end of next month.

Filed by Top Shine Global of Intershore Consult (Samoa) Ltd on Friday, it is the first known winding-up petition to have been lodged against the Chinese property developer, which has more than $300 billion in liabilities.

($1 = 7.8472 Hong Kong dollars)

Continue Reading

Stock Markets

Heineken to expand Mexico operations with $90 million plant

Published

on


© Reuters. FILE PHOTO: Heineken beer bottles are seen at a bar in Monterrey, Mexico June 20, 2017. REUTERS/Daniel Becerril/File Photo

MEXICO CITY (Reuters) – Heineken (OTC:HEINY) will build a 1.8 billion peso, or $90 million, can manufacturing plant in the northern Mexican state of Chihuahua near its brewery in the town of Mequoi, the company said on Monday.

The plant, Heineken’s seventh in the country, will bring around 120 direct jobs after opening and around 150 during the construction phase, it said in a press release.

The beermaker said it had seen increased demand for cans in the country, as other national alcoholic drink producers like Becle, Jose Cuervo’s parent company, say they are struggling to obtain glass to bottle their spirits.

Around 40% of beer in Mexico is currently made in cans, while the rest is made in glass bottles, according to the National Chamber of Beer and Malted Drinks.

Continue Reading

Stock Markets

U.S. commerce secretary presses lawmakers to greenlight $52 billion for chipmaking

Published

on


© Reuters. FILE PHOTO: Commerce Secretary Gina Raimondo testifies on Capitol Hill in Washington, D.C., U.S., February 1, 2022. Andrew Harnik/Pool via REUTERS/File Photo

WASHINGTON (Reuters) – U.S. Commerce Department Secretary Gina Raimondo on Monday stepped up pressure on Congress to approve $52 billion in funding for chipmakers to expand operations, warning that firms would abandon American expansion plans without the legislation.

“Mark my words … if Labor Day comes and goes and this Chips Act isn’t passed by Congress, these companies will not wait and they will expand in other countries,” she warned in an interview on CNBC.

Both houses of Congress have passed versions of legislation to make the United States more competitive with China that include the chip funding.

However, lawmakers have so far failed to reach consensus on a final version of the sprawling package, despite a global chip crunch.

Raimondo’s warning came after Taiwan’s GlobalWafers announced plans earlier on Monday to build a $5 billion plant in Sherman, Texas to produce the silicon wafers needed for chipmaking. Raimondo said the company’s CEO told her the investment was contingent on Congress approving the funding.

“The consequences to our national security are grave. If we don’t get this passed, and if you’re not going to be able to get everything you want in this, it’s time to move on because we cannot wait,” she admonished lawmakers.

GlobalWafers did not immediately respond to a Reuters’ request for comment.

The persistent industry-wide shortage of chips has disrupted production in the automotive and electronics industries, forcing some firms to scale back production.

Continue Reading

News

Commodities24 seconds ago

U.S. hostage envoy visits Venezuela for talks about jailed Americans-official

© Reuters. FILE PHOTO: Venezuelan President Nicolas Maduro speaks during a meeting with Iranian President Ebrahim Raisi (not pictured) after...

Sports & General34 seconds ago

Mexican consul en route to Texas site where migrants found dead in trailer

© Reuters. Law enforcement officers work at the scene where people were found dead inside a trailer truck in San...

Economy43 seconds ago

Euro gains traction ahead of inflation data, dollar steadies

© Reuters. A shopper pays with a ten Euro bank note at a local market in Nice, France, June 7,...

Sports & General31 mins ago

At least 40 people found dead in truck in San Antonio – source

2/2 © Reuters. Law enforcement officers work at the scene where people were found dead inside a trailer truck in...

Commodities1 hour ago

Venezuelan officials meet US delegation, Maduro says

© Reuters. FILE PHOTO: Venezuelan President Nicolas Maduro speaks during a meeting with Iranian President Ebrahim Raisi (not pictured) after...

Sports & General1 hour ago

Twenty people found dead in truck in San Antonio, local media report

© Reuters (Reuters) – At least 20 people were found dead inside a trailer truck in San Antonio, Texas, local...

Stock Markets1 hour ago

China Evergrande faces winding-up lawsuit for $110 million deal obligation

© Reuters. The Evergrande Center of China Evergrande Group is seen amid other buildings in Shanghai, China, September 24, 2021....

Stock Markets2 hours ago

Heineken to expand Mexico operations with $90 million plant

© Reuters. FILE PHOTO: Heineken beer bottles are seen at a bar in Monterrey, Mexico June 20, 2017. REUTERS/Daniel Becerril/File...

Cryptocurrency2 hours ago

‘Crypto is just like the end of the 90s with the internet bubble,’ says Hodl CEO Maurice Mureau

‘Crypto is just like the end of the 90s with the internet bubble,’ says Hodl CEO Maurice Mureau For Maurice...

Stock Markets2 hours ago

U.S. commerce secretary presses lawmakers to greenlight $52 billion for chipmaking

© Reuters. FILE PHOTO: Commerce Secretary Gina Raimondo testifies on Capitol Hill in Washington, D.C., U.S., February 1, 2022. Andrew...

Stock Markets3 hours ago

JetBlue refuses to give up its quest for Spirit Airlines

© Reuters. Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21,...

World3 hours ago

Biden pick for immigration enforcement withdraws after long delay

© Reuters. FILE PHOTO: Ed Gonzalez testifies on his nomination as director of the U.S. Immigration and Customs Enforcement (ICE)...

Stock Markets3 hours ago

Four big U.S. banks raise dividends after stress tests

2/2 © Reuters. A person walks past a Bank of America sign in the Manhattan borough of New York City,...

Stock Markets3 hours ago

Blackstone, Carlyle, Apollo to cover U.S. abortion-related travel costs

2/2 © Reuters. Signage is seen outside The Blackstone Group headquarters in Manhattan, New York, U.S., November 12, 2021. REUTERS/Andrew...

Stock Markets3 hours ago

Nike forecasts downbeat quarterly revenue on lingering China worries

© Reuters. FILE PHOTO: People walk past a store of the sporting goods retailer Nike Inc at a shopping complex...

World3 hours ago

Trump’s election attorney John Eastman says FBI seized his phone

© Reuters. FILE PHOTO: John Eastman, former attorney for former U.S. President Donald Trump, is seen speaking in a video...

Sports & General3 hours ago

Three dead in Amtrak train crash and derailment in Missouri

(Reuters) -An Amtrak train carrying hundreds of passengers derailed in northern Missouri on Monday after hitting a dump truck at...

Stock Markets3 hours ago

Dow Futures Move Higher Following Negative Session

© Reuters. By Oliver Gray  Investing.com – U.S. stock futures were trading slightly higher in Monday’s evening deals after major...

Sports & General3 hours ago

New Mexico shields abortion clinics ahead of expected patient surge

© Reuters. FILE PHOTO: Democratic candidate for governor Michelle Lujan Grisham sits down for a meal at Barelas Coffee House...

Stock Markets3 hours ago

Bankman-Fried’s FTX says no talks to acquire Robinhood

© Reuters. The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s...

World3 hours ago

Missiles strike Ukraine shopping mall; G7 vows to keep pressure on Russia

6/6 © Reuters. FILE PHOTO: A smoke rises over remains of a building destroyed by a military strike, as Russia’s...

Stock Markets4 hours ago

JetBlue sweetens Spirit takeover offer with ‘ticking fee’

© Reuters. Airplane model is placed on displayed Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21,...

World4 hours ago

Biden to announce extension of U.S. troop presence in Poland -NBC News

© Reuters. FILE PHOTO: A U.S. Army soldier takes an oath as he reenlists next to the site where U.S....

Cryptocurrency4 hours ago

Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000 Bear markets have historically been challenging to navigate for...

Stock Markets4 hours ago

Lockheed wins $2.3 billion contract to build Black Hawk helicopters

© Reuters. A U.S. Army Black Hawk helicopter flies over the Rzeszow-Jasionka Airport as U.S. President Joe Biden also arrives...

World4 hours ago

New York judge rules law allowing noncitizens to vote for mayor is unconstitutional

© Reuters. FILE PHOTO: People take part in a rally ‘Victory Rally’ to allow non-citizen NYC residents to vote in...

Sports & General4 hours ago

New Mexico shields abortion providers ahead of expected patient surge

© Reuters. FILE PHOTO: Democratic candidate for governor Michelle Lujan Grisham sits down for a meal at Barelas Coffee House...

Stock Markets4 hours ago

Goldman Sachs to Raise Dividend by 25% Following Stress Test

© Reuters Goldman Sachs (GS) to Raise Dividend by 25% Following Stress Test By Davit Kirakosyan The Goldman Sachs Group...

World4 hours ago

FBI seized phone of Trump’s election attorney John Eastman – CNN

© Reuters. FILE PHOTO: John Eastman, former attorney for former U.S. President Donald Trump, is seen speaking in a video...

Sports & General4 hours ago

Amtrak train hits truck, derails in Missouri; injuries reported

(Reuters) -An Amtrak train derailed in northern Missouri on Monday after hitting a dump truck at a crossing, the U.S....

Trending