NEW YORK (AP) — Major U.S. indexes closed mostly lower Monday as investors bought banks but sold most other types of stocks, including health care and technology companies. Energy stocks sank along with oil prices.
(For a live blog on European stocks, type LIVE/ in an Eikon news window) LONDON, July 16 (Reuters) - Strong industrials and pharma stocks helped European shares make hesitant gains on Monday while data showing slowing economic growth from China kept a lid on the market's progress. The pan-European STOXX 600 inched up 0.2 percent by 0725 GMT, in line with Germany's DAX, which is heavily exposed to China. Basic resources and autos were among the worst-performing sectors as they are both reliant on solid Chinese growth, but industrials merger speculation helped outweigh the overall negative impact of the data. The top European mover was drugmaker Indivior, jumping 26 percent after a U.S. court blocked
By Caroline Valetkevitch NEW YORK (Reuters) - The S&P 500 ended slightly lower on Monday following a drop in oil prices that weighed on energy shares and offset a jump in financials as Bank of America's ...
By Lewis Krauskopf NEW YORK (Reuters) - Oil prices dropped about 5 percent on Monday, putting pressure on energy shares and keeping global stock markets in check, although financial shares rallied after ...
Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. Brent crude (LCOc1) futures fell $3.49 to settle at $71.84 a barrel, a 4.63 percent loss, while U.S. West Texas Intermediate (WTI) crude (CLc1) futures fell $2.95 to settle at $68.06 a barrel, a 4.15 percent loss. Brent's dive pushed it to a session low of $71.52 during the session, its lowest since mid-April.
NEW YORK (Reuters) - Oil prices dropped about 5 percent on Monday, putting pressure on energy shares and keeping global stock markets in check, although financial shares rallied after upbeat news from Bank of America and Deutsche Bank.
Deutsche Bank expects second-quarter net profits will be more than double analysts' forecasts in a rare piece of good news for Germany's largest bank which is cutting costs to try to revive profitability. It is a positive sign for new chief executive Christian Sewing, who took over in April and has embarked on plans to cut more than 7,000 jobs in an overhaul of the bank. "Management believes that these results demonstrate the resilience of the franchise," Deutsche Bank said ahead of its full earnings report due on July 25.
Shares of video streaming giant Netflix, Inc. ( NFLX) have posted a year-to-date gain of 106.2%, but with a P/E ratio of 265.64, a downgrade by UBS and cautious comments by Deutsche Bank, the stock closed Friday at $395.80, which is 6.5% below its all-time intraday high of $423.20 set on June 21. Analysts expect Netflix to report earnings per share of 80 cents when the company releases second quarter earnings results after the closing bell on Monday, July 16. The media giant should continue to see subscriber growth, particularly globally, but warnings from UBS and Deutsche Bank indicate that there is significant downside risk on a negative reaction to earnings.
Deutsche Bank AG jumped after saying it expects to report net income of about 400 million ($468 million) euros for the second quarter. That compares with a consensus estimate of 159 million euros, the ...