alra7ma-akhawat.com

Japan Manufacturing PMI Slows In October – Nikkei

The manufacturing sector in Japan continued to expand in October, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Tuesday with a manufacturing PMI score of 52.5.

That’s down from 52.9 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output, new orders, new export orders and quantity of purchases all increased but at a slower pace.

Employment, backlogs and output prices all increased at a faster rate.

Business confidence fell to an 11-month low.

The material has been provided by InstaForex Company – www.instaforex.com

The post Japan Manufacturing PMI Slows In October – Nikkei appeared first on forexarabicnetwork.com.

ARGENTINA: Merval Climbs 3.06% After Ruling Coalition Election Triumph

Merval, the main index of the Buenos Aires Stock Exchange, surged 3.06% Monday, closing at 27,806.16 after the ruling coalition victory in Sunday’s legislative election. The result was widely expected by investors.

“With this result, Cambiemos [ruling coalition] now consolidates as the first political force at the national level, hence the euphoria that was experienced on Monday in the local equity segment,” said Eduardo Fern?ndez, an analyst at Rava Burs?til.

Also, the oil companies posted strong highs after the increase in fuel prices announced today. YPF gained 5.11%, while Pampa rose 2.79%.

The shares of Macro (+8.02%), Cresud (+6.36%), Telecom (+6.33%), and Comercial del Plata (+6.30%) rose the most in Monday’s session.

Meanwhile, the locally traded U.S. dollar fell 0.11%, closing at 17.41 Argentinean pesos, after the expected victory of the ruling coalition in Sunday’s legislative elections.

The material has been provided by InstaForex Company – www.instaforex.com

The post ARGENTINA: Merval Climbs 3.06% After Ruling Coalition Election Triumph appeared first on forexarabicnetwork.com.

BRAZIL: Caution With Politics Dictates Stock Market Tone

Ibovespa, the benchmark stock index in Brazil, fell 1.27% Monday, closing at 75,413.12 while investors await the result of the House of Representatives vote on the criminal complaint against Michel Temer.

Analysts consider that the vote not only decides the future of the Brazilian President, but will serve as a “thermometer” regarding the pension reform future in the Congress.

“The market will wait for Wednesday, and it is looking at how many votes the government has and how much it will represent in a future deal on pension reform. There are already foreign investors working with the possibility that there will not be time for the Pension Fund to be voted on,” said Jos? Costa, an economist at Codepe Corretora.

According to Vitor Suzaki, an analyst at Lerosa Investimentos, there was a risk aversion mood abroad today, but caution about the vote on the complaint against Temer weighed even more in the Ibovespa.

The wait for the decision of the Central Bank’s Monetary Policy Committee (Copom), that will meet tomorrow and Wednesday, also made price Monday, holding the index in the negative field.

The cautious mood, say Suzaki and Costa, is expected to get even stronger Tuesday, which could lead the Ibovespa down.

The locally traded U.S. dollar accelerated gains near the closing to rise 1.31%, ending at R$ 3.2320. The third greenback’s appreciation in a row against the Brazilian real reflects the greater concern with the foreign scene and the caution among investors regarding the vote on the second criminal complaint against President Michel Temer.

The material has been provided by InstaForex Company – www.instaforex.com

The post BRAZIL: Caution With Politics Dictates Stock Market Tone appeared first on forexarabicnetwork.com.

VENEZUELA: CNE Did Not Receive Formal Challenge To Electoral Process

Venezuela’s National Electoral Council (CNE) director Tania D ‘Amelio said that she did not receive any formal challenge from the opposition to the October 15 regional elections.

Ruling candidates won in 18 out of 23 provinces. The opposition to the President Nicol?s Maduro claims that there was fraud in the electoral results in the province of Bol?var, but still have not filed any formal challenge to the result.

“I urge political organizations, especially in the opposition, which are the ones who are saying that there is fraud, that formally challenges the process in the CNE, which is the first administrative instance of appeal,” she said. “If you have doubts about the process and you do not agree, you must challenge.”

The material has been provided by InstaForex Company – www.instaforex.com

The post VENEZUELA: CNE Did Not Receive Formal Challenge To Electoral Process appeared first on forexarabicnetwork.com.

COLOMBIA: Colcap Drops 0.32% On Fears Of Possible U.S. Rate Hike

Colcap, the main index of the Colombian Stock Exchange, fell 0.32% Monday, closing at 1,460.36 amid fears over the consequences of an expected interest rate hike in the United States.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said that a report presented by Morgan Stanley points out to Colombia as the country most at risk of negative consequences of an interest rate hike by the U.S. Federal Reserve bank.

Meanwhile, the state-owned oil company Ecopetrol rose 0.35% after signing a memorandum with Malaysia’s Petronas to negotiate trade agreements that allow both companies to develop exploration and production projects in the Americas.

Besides, Ecopetrol, the shares of Nutresa (+0.52%), Canacol (+0.43%), ?xito (+0.38%), and Celsia (+0.11%) rose, while ETB (-2.56%), Sura (-1.50%), Grupo Aval (-1.12%), Cemargos (-1.03%), Davivienda (-0.62%), Banco de Bogot? (-0.41%), Conconcreto (-0.40%), Avianca (-0.18%), and Preferencial Bancolombia (-0.12%) fell.

Meanwhile, the locally traded U.S. dollar closed the day at 2,952 Colombian pesos, marking a 0.49% rise, due to the decline of the euro. Agust?n Vera, an analyst at Global Securities, said that investors continue to punish the common European currency for political uncertainty in Catalonia.

The material has been provided by InstaForex Company – www.instaforex.com

The post COLOMBIA: Colcap Drops 0.32% On Fears Of Possible U.S. Rate Hike appeared first on forexarabicnetwork.com.

VENEZUELA: Country And China Strengthen Strategic Alliance In Energy

Venezuela and China strengthened their strategic alliance in energy, primarily aiming at increasing crude oil output in their joint ventures, investments, financing and trade. The compromise was agreed at a meeting between Venezuelan officials and a delegation from China National Petroleum Corporation (CNPC).

“Energy cooperation has been a fundamental basis for strengthening political, social, cultural and economic ties. We better know our friends at difficult times, and CNPC will continue to be a partner of Venezuela,” CNPC Vice-President Wang Dongjin told Venezuela’s Oil Minister, Eulogio Del Pino, and state-owned PDVSA chairman, Nelson Mart?nez.

Both companies set up six joint crude oil production companies operating in the Orinoco Oil Belt and advanced in energy trading through the Chinese currency, the yuan.

The material has been provided by InstaForex Company – www.instaforex.com

The post VENEZUELA: Country And China Strengthen Strategic Alliance In Energy appeared first on forexarabicnetwork.com.

COLOMBIA: Economy Expands 1.80% In August On Annual Basis

Colombia’s Economic Monitoring Indicator (ISE) reached 160.2 in August, increasing by 1.80% on a yearly basis, but slowing from July’s 3.11% advance, said the country’s statistics office. On a monthly basis, Colombia’s ISE climbed 1.97%, the highest acceleration since May.

Seasonally adjusted, which eliminates the effects of holidays and the periods are homogenized, the August ISE stood at 161.5 – a 1.5% year-on-year increase, higher than the 1.2% advance in the previous month.

For the period from January to August 2017, the Economic Monitoring Indicator rose 1.4% against the same period in the previous year, at a slower pace than the 2.1% increase recorded between January and August 2016.

The material has been provided by InstaForex Company – www.instaforex.com

The post COLOMBIA: Economy Expands 1.80% In August On Annual Basis appeared first on forexarabicnetwork.com.

OI: Company Shares Fall More Than 6% After Vote On Recovery Plan Postponed

Brazilian telecommunications company Oi’s preferred shares are falling by more than 6% on news that a meeting of creditors scheduled for Monday was postponed once again. Also, Oi stock’s were affected by reports that the telecom sector regulator in Brazil (ANATEL) decided not to engage in a deal to convert the company’s fines in investments.

Last Friday, a Brazilian court upheld the request by Oi’s creditor banks and bondholders to postpone a vote on the company’s judicial recovery plan until November 6th. According to the creditors, it would be premature to hold the meeting once there is the intention to evolve in the talks on feasible alternatives.

The government has also been seeking more time to find a solution that may please public entities and other creditors and shareholders, in the face of conflicts over the company’s plan.

According to Coinvalores brokerage analysts, “the new delay makes clear the opposition of Oi’s creditors to the conditions of the new plan.” According to the analysts, Oi’s papers should react negatively in the short term.

The material has been provided by InstaForex Company – www.instaforex.com

The post OI: Company Shares Fall More Than 6% After Vote On Recovery Plan Postponed appeared first on forexarabicnetwork.com.

ARGENTINA: After Elections, Gasoline Prices Raised By 10% Nationwide

One day after the victory of the ruling coalition Cambiemos in Argentina’s legislative election, fuel prices were raised across the country. While gasoline prices increased by 10%, diesel oil was 9% more expensive on Monday.

YPF – which controls 55% of the market – raised the price by 10% on average. Shell adjusted its rates by 9.9%, while Axion and Petrobras are expected to announce their new prices in the coming hours.

The oil companies claim that the increase in fuel prices was needed after the devaluation of the Argentinean peso against the U.S. dollar and the rising crude oil prices abroad in the last quarter.

The material has been provided by InstaForex Company – www.instaforex.com

The post ARGENTINA: After Elections, Gasoline Prices Raised By 10% Nationwide appeared first on forexarabicnetwork.com.

Scroll To Top