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Wires

  • LONDON, May 26- Europe's brightening economic prospects are unlikely to insulate regional stocks from any sharp pullback on Wall Street where a wobble last week heightened anxiety about whether a market at record highs is due a correction. Darkening clouds in the United States contrast with an acceleration of the euro zone economy and an ebbing of political...

  • HONG KONG— Asian stock markets were mixed Friday as investors weighed Wall Street's latest gains on strong earnings reports against the latest oil production cut, which dragged down crude prices and commodity shares. KEEPING SCORE: Japan's benchmark Nikkei 225 index slipped 0.3 percent to 19,749.59 but South Korea's Kospi climbed 0.6 percent to 2,357.06.

  • *iVX, China's anxiety gauge, jumps to 4- month high. SHANGHAI, May 26- China stocks held steady on Friday after a tumultuous week, with the Shanghai index holding above the key 3,000- point level even after Moody's downgraded the country's sovereign credit rating. But iVX- dubbed China's anxiety gauge- has jumped to a four-month high, while trading in stock options...

  • SINGAPORE, May 26- Sterling fell on Friday after a poll showed a narrowing lead for British Prime Minister Theresa May over her opposition ahead of elections next month, while weakness in oil prices dragged on commodity-linked currencies. In a sign that the June 8 election could be more closely contested than previously thought, a YouGov poll published on...

  • SINGAPORE, May 26- Sterling fell on Friday after a poll showed a narrowing lead for British Prime Minister Theresa May over her opposition ahead of elections next month, while weakness in oil prices dragged on commodity-linked currencies. In a sign that the June 8 election could be more closely contested than previously thought, a YouGov poll published on...

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting Countries and...

  • SHANGHAI, May 26- China's yuan on Friday extended the previous day's big gain, hitting its strongest level in more than three months, and the Chinese currency was on track for its best week since mid-January. China plans to change the way it calculates the yuan's daily midpoint rate against the dollar, adding a "counter-cyclical adjustment factor" that may blunt...

  • NEW YORK, May 26- Two fossil fuel industry groups dropped their attempts to intervene in a court case over climate change this week after failing to reach an agreement on a unified legal position on climate science, court filings show. The American Petroleum Institute and the National Association of Manufacturers, prominent trade groups in the oil and gas...

  • *Australia selling record volumes of wheat, barley, canola. *But rival Black Sea exports could dent Aus volumes later in year. SINGAPORE/ SYDNEY, May 26- Australia's grain exports have shot to record volumes this year as bumper crops push down prices, but levels may fade towards year-end as rival shipments step up from the Black Sea region.

  • *Spot gold could test resistance at $1,264 per ounce- technicals. May 26- Gold prices held steady after dipping slightly earlier in the session on Friday as Asian stocks eased following an extension of output curbs by OPEC and other producing nations that left investors hoping for bigger cuts disappointed. Spot gold was up 0.1 percent at $1,257.01 per ounce U.S....

  • *OPEC, other producers extend production cut to March 2018. SINGAPORE, May 26- Oil extended falls on Friday after tumbling in the previous session when OPEC and allied producers extended output cuts but disappointed investors betting on longer or larger supply curbs. At Thursday's meeting in Vienna, the Organization of the Petroleum Exporting Countries and...

  • BEIJING, May 26- China's structural reforms will not be enough to arrest its rising debt, and another credit rating downgrade for the country is possible unless it gets its ballooning credit in check, two officials at Moody's ratings agency said on Friday. The comments came days after Moody's Investors Service downgraded China's sovereign ratings on...

  • *China's soy crush margins drop to weakest since Sept 2014. SINGAPORE, May 26- Chicago soybean futures dropped to a more than six-week low on Friday and were poised for a third weekly fall as a deep fall in crude oil prices and plentiful world supplies put pressure on the oilseed. The Chicago Board Of Trade most-active soybean contract has declined 1.8 percent so...

  • *Asia stocks slip despite Wall Street scaling new highs. SINGAPORE, May 26- Crude prices were on the defensive on Friday after an agreement by OPEC to extend existing supply curbs disappointed investors wagering on larger cuts, prompting a move away from riskier assets and depressing Asian stocks. The Organization of Petroleum Exporting Countries and some non-...

  • Louis Federal Reserve President James Bullard said on Friday that he sees minimal impact on long-term bond yields from reductions in the Fed's balance sheet, which he hopes will start in the second half of this year. Bullard also said it was good to cap the amount of mortgage-backed securities allowed to run off the Fed's balance sheet, but he was indifferent to...

  • *Tokyo May core CPI up 0.1 pct vs f'cast flat growth. TOKYO, May 26- Japan's core consumer prices rose 0.3 percent in April from a year earlier to mark a fourth straight month of increases, offering policymakers some hope a steady economic recovery will convince consumers to start spending again. They thus try to trim costs by keeping wages low, "said Takeshi Minami,...

  • May 25- A federal judge ordered United Parcel Service Inc to pay nearly $247 million in damages and penalties for "illegally shipping" large volumes of untaxed cigarettes in New York state and City, a court filing showed on Thursday. In total, New York state is awarded $165.8 million and plaintiff New York City is awarded $81.2 million. The federal judge in March...

  • Louis Federal Reserve President James Bullard said on Friday that the Bank of Japan must communicate carefully with markets if it decides to taper its purchases of Japanese government bonds. "It's very important to get the communication right," Bullard said at lecture hosted by Keio University. "Otherwise there will be outsize reaction and cause a lot of global...

  • TOKYO— Japan's core consumer price index climbed to a two-year high in April of 0.3 percent, as costs for energy rose. Economists said the increase reported Friday was not likely to persist and that prices for imported consumer goods actually fell. The government said the cost of gasoline surged 15 percent and the cost of kerosene jumped 28 percent, as U.S....

  • *Stronger yen offsets effect of record closes on Wall Street. TOKYO, May 26- Japan's Nikkei share average remained solidly on track for a winning week on Friday, underpinned by record closing highs on Wall Street even as a firmer yen put a damper on sentiment. "The Nikkei is getting a drag today from a stronger yen, which has offset the impact of yesterday's Wall Street...