A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
European markets closed higher on Friday as investors monitored earnings reports and reacted to a new U.S. jobs report.
The pan-European Stoxx 600 was up 0.95 percent with all sectors in positive territory. The benchmark was 1.3 percent up from last week.
Food and beverages outperformed its peers, up by 1.6 percent. Earlier in the session, basic resources had registered the biggest gains.
Insurance stocks struggled on weaker-than-anticipated earnings news but erased losses by the end of the session. The world's second-largest reinsurer, Swiss Re, reported first-half net profit had slipped 35 percent after claims from natural disasters, falling prices and a resulting cutback in its business. Shares were more than 3 percent lower on the news.
U.K. housebuilders sank on Friday after media reports that the government is putting an end to the Help to Buy Scheme earlier than expected. Shares of Persimmon, Barratt Developments and Taylor Wimpey were lower by more than 3 percent.
Looking at individual stocks, RBS reported a large earnings beat on Friday morning with the U.K. lender highlighting that it had swung back to a first-half profit for the first time in three years. The bank also announced it planned to make Amsterdam its EU base after Brexit. Shares were 1.9 percent higher.
Shares of Adidas were among the best performers on Friday after some losses on Thursday on earnings news. Both RBC and Barclays raised their target prices for the stock.
Hargreaves Lansdown said Friday it would not be paying a special dividend this financial year as the financial services firm claimed it would not have a sufficient regulatory capital stimulus. The company, which is to report earnings mid-August, said it would pay a final dividend for the year ending June 30 in line with its policy. Shares tumbled almost 3 percent.
The Austrian engineering group Andritz fell 6 percent after reporting earnings below consensus.
Meanwhile, in the U.S., data showed that 209,000 new jobs were created in July, beating analysts expectations. The Dow Jones moved higher on the news and hit a new record high after having surpassed the 22,000 benchmark earlier this week.
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