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Tag: FINS08

  • Dow posts record closing high, stocks gain for 3rd week; dollar dips

    Dow posts record closing high, stocks gain for 3rd week; dollar dips

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    • S&P 500, Nasdaq end session lower
    • Evergrande averts default with surprise interest payment
    • U.S. 10-year yields lower

    NEW YORK, Oct 22 (Reuters) – The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.

    On the day, MSCI’s broadest gauge of global shares (.MIWD00000PUS) was flat, and the S&P 500 (.SPX) and Nasdaq (.IXIC) ended lower.

    Stocks came under pressure after Federal Reserve Chair Jerome Powell said the U.S. central bank was “on track” to begin reducing its purchases of assets. read more

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    Intel’s stock (INTC.O)fell 11.7% and was among the biggest drags on the S&P 500. Late Thursday, Intel reported sales that missed expectations and pointed to shortages of chips holding back sales of its flagship processors. read more

    American Express Co’s stock (AXP.N) gained, boosting the Dow after the company beat profit estimates for the fourth straight quarter.

    Next week brings reports from several key mega-cap names including Amazon (AMZN.O). read more

    The dollar pared losses after Powell’s comments, but the dollar index was last down 0.10% at 93.64, and is off from a one-year high of 94.56 last week. read more

    “There’s a bit of a positioning unwind taking place. We’ve obviously seen a firmer dollar since the September” Fed meeting, said Mazen Issa, senior FX strategist at TD Securities in New York. “That also dovetails with the seasonal tendency for the dollar to soften into the end of the month.”

    Investors also digested news that China Evergrande Group (3333.HK) appeared to avert default with a source saying it made a last-minute bond coupon payment. read more

    The Dow Jones Industrial Average (.DJI) rose 73.94 points, or 0.21%, to 35,677.02, the S&P 500 (.SPX) lost 4.88 points, or 0.11%, to 4,544.9 and the Nasdaq Composite (.IXIC) dropped 125.50 points, or 0.82%, to 15,090.20.

    The pan-European STOXX 600 index (.STOXX) rose 0.46% and MSCI’s gauge of stocks across the globe shed 0.03%.

    The MSCI index posted gains for a third straight week along with the three major U.S. stock indexes.

    In the U.S. bond market, yields on longer-dated U.S. Treasuries slid.

    The yield on 10-year Treasury notes was down 1.6 basis points to 1.659% after rising to a five-month high of 1.7064% late Thursday.

    Oil rose and ended up for the week, near multi-year highs. Brent crude futures rose 92 cents to settle at $85.53 a barrel, and registered its seventh weekly gain. U.S. crude futures gained $1.26, to settle at $83.76, and rose for a ninth straight week. read more

    Spot gold was up 0.6% at $1,793.82 per ounce.

    Among cryptocurrencies, bitcoin last fell 2.21% to $60,841.96.

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    Additional reporting by Simon Jessop in London, and Karen Brettell, Sinead Carew and Herbert Lash in New York and Kevin Buckland in Tokyo
    Editing by Hugh Lawson Mark Potter and David Gregorio

    Our Standards: The Thomson Reuters Trust Principles.

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  • Israel designates Palestinian civil society groups as terrorists, U.N. ‘alarmed’

    Israel designates Palestinian civil society groups as terrorists, U.N. ‘alarmed’

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    • Palestinians, rights watchdogs reject the designations
    • Israel accuses groups of funnelling aid to militants

    TEL AVIV, Oct 22 (Reuters) – Israel on Friday designated six Palestinian civil society groups as terrorist organisations and accused them of funnelling donor aid to militants, a move that drew criticism from the United Nations and human rights watchdogs.

    Israel’s defence ministry said the groups had ties to the Popular Front for the Liberation of Palestine (PLFP), a left-wing faction with an armed wing that has carried out deadly attacks against Israelis.

    The groups include Palestinian human rights organisations Addameer and Al-Haq, which document alleged rights violations by both Israel and the Western-backed Palestinian Authority in the occupied West Bank.

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    “(The) declared organizations received large sums of money from European countries and international organizations, using a variety of forgery and deceit,” the defence ministry said, alleging that the money had supported PFLP’s activities.

    The designations authorise Israeli authorities to close the groups’ offices, seize their assets and arrest their staff in the West Bank, watchdogs Human Rights Watch and Amnesty International said in a joint statement.

    Addameer and another of the groups, Defense for Children International – Palestine, rejected the accusations as an “attempt to eliminate Palestinian civil society.”

    The United Nations Human Rights Office in the Palestinian territories said it was “alarmed” by the announcement.

    “Counter-terrorism legislation must not be used to constrain legitimate human rights and humanitarian work,” it said, adding that some of the reasons given appeared vague or irrelevant.

    “These designations are the latest development in a long stigmatizing campaign against these and other organizations, damaging their ability to deliver on their crucial work,” it said.

    Israel’s ally the United States was not given advance warning of the move and would engage Israel for more information about the basis for the designations, State Department spokesperson Ned Price told reporters.

    “We believe respect for human rights, fundamental freedoms and a strong civil society are critically important to responsible and responsive governance,” he said.

    But Israel’s defence ministry said: “Those organizations present themselves as acting for humanitarian purposes; however, they serve as a cover for the ‘Popular Front’ promotion and financing.”

    An official with the PFLP, which is on United States and European Union terrorism blacklists, did not outright reject ties to the six groups but said they maintain relations with civil society organisations across the West Bank and Gaza.

    “It is part of the rough battle Israel is launching against the Palestinian people and against civil society groups, in order to exhaust them,” PFLP official Kayed Al-Ghoul said.

    Human Rights Watch and Amnesty International said the “decision is an alarming escalation that threatens to shut down the work of Palestine’s most prominent civil society organizations.”

    Israel captured the West Bank, Gaza Strip and East Jerusalem in the 1967 Middle East war. Palestinians seek the territories for a future state.

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    Reporting by Rami Ayyub in Tel Aviv; Additional reporting by Ali Sawafta in Ramallah, Nidal al-Mughrabi in Gaza and Stephen Farrell in Jerusalem; Editing by William Maclean and Mark Porter

    Our Standards: The Thomson Reuters Trust Principles.

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