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CNBC Utilities Page Wires

  • LONDON, July 19- Sterling edged lower on Thursday thanks to a broad-based dollar rebound though monthly retail sales data kept the British currency above the $1.30 line. In early London trading, sterling edged 0.3 percent lower at $1.3028 and nearing an early September 2017 low of $1.3010 hit in the previous session. After narrowly escaping defeat in...

  • Shanghai zinc had earlier jumped by the daily limit of 6 percent to a one-week top following a report that China plans to boost liquidity in the banking sector, and was underpinned by falling inventories and a weaker yuan. The LME sell-off that followed came as a China foreign ministry spokeswoman described as "shocking" comments from U.S. economic adviser Larry...

  • *OPEC pared production cuts in June- sources. Brent has fallen almost 9 percent from last week's high above $79 on emerging evidence of higher production from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries as well as Russia and the United States. "The outlook remains negative," said Robin Bieber, technical analyst at...

  • KUALA LUMPUR, July 19- Malaysia's AirAsia Group Bhd said it would hold a media event on Thursday in Kuala Lumpur for a major announcement related to developing long-haul operations. The press conference, timed to start at 5:30 p.m., follows speculation that the company will order new planes. The announcement comes two days after Chief Executive Officer Tony...

  • LONDON, July 19- Britain's banks and insurers must plan for a "hard" Brexit in case a transition period is not in place next March, a senior British regulator said on Thursday. "With eight months until we exit the European Union in March 2019, it is important we all-- regulators and industry-- continue to plan for a range of scenarios," said Nausicaa Delfas, head of...

  • *Comes as U.S. demands nations stop taking oil cargoes from Iran. *Shippers tell Japan refiners will not carry Iran oil- sources. "Japanese oil refiners have been making preparations for lifting plans on the assumption that U.S. sanctions are to be applied," the president of the Petroleum Association of Japan, Takashi Tsukioka, said.

  • LONDON, July 19- British engineer Babcock cut its full-year revenue growth target on Thursday as delays in government spending on submarines hit its Marine division, sending its shares down more than 10 percent. The combination of the disposals and marine slowdown prompted Babcock, a FTSE 250 company with a market value of 4.1 billion pounds, to say it now...

  • KEEPING SCORE: Japan's Nikkei 225 dipped 0.1 percent to 22,764.68 while South Korea's Kospi shed 0.3 percent to 2,282.29. Shares rose in Singapore and Indonesia but fell in Taiwan and the Philippines. ASIAN DEVELOPMENT BANK OUTLOOK: The Manila, Philippines- based Asian Development Bank issued a revised economic forecast for the region and for major...

  • TOKYO— Japanese prosecutors are charging major steelmaker Kobe Steel for falsifying data on a wide range of products. Tokyo prosecutors said Thursday that Kobe Steel is being charged with violating laws overseeing fair competition. Kobe Steel has repeatedly apologized for the practice but declined comment, saying it had not yet been notified of the charges.

  • DUBAI, United Arab Emirates— Chinese President Xi Jinping is heading to Abu Dhabi in his first trip to the United Arab Emirates as the leader of China and as the two countries look to strengthen trade ties and expand investment. China and the UAE conduct some 50 billion dollars in annual trade, which they hope to double in the next decade. UAE Minister of State Sultan...

  • *Difficult for gold to break towards $1,236- $1,240- MKS trader. BENGALURU, July 19- Gold extended falls to a one-year low on Thursday as the U.S. dollar firmed after Federal Reserve Chairman Jerome Powell asserted the need for further interest rate hikes amid a strong economy. "Gold market is just following the U.S. dollar, the dollar is strong so it's pushing the...

  • *Q2 and 1 H sales miss estimates. *Pricing still weak but seen improving. LONDON, July 19- Unilever reported lower than expected second-quarter sales on Thursday, hurt by a Brazilian transport strike and weak pricing, setting a downbeat tone for the consumer goods sector.

  • LONDON, July 19- European stocks were caught in a tug-of-war on Thursday as results drove sharp price swings in advertising, tech and industrials stocks. Europe's biggest tech stock, business software provider SAP, was the heaviest drag on the index, falling 2.1 percent to the bottom of Germany's DAX after its second-quarter results showed weaker than expected...

  • *Spreads over Germany close to tightest level in weeks. Investors have bought up this debt in recent weeks-- particularly that of France-- as uncertainty over global growth fuelled the need for safe haven assets that offer a bit more yield than German Bunds. "For both France and Spain, the curves are quite flat and the spreads are very tight, maybe it's convenient that...

  • LONDON, July 19- British police have identified several Russians who they believe were behind the nerve agent attack on former double agent Sergei Skripal and his daughter, the Press Association reported on Thursday, citing a source close to the investigation. Skripal, a former colonel in Russian military intelligence who betrayed dozens of agents to...

  • SHANGHAI, July 19- China stocks fell on Thursday, dragged by airliners, as the yuan dropped to a one-year low against the dollar after news that Beijing plans to step up monetary easing measures. **The largest percentage gainers on the main Shanghai Composite index were Weifang Yaxing Chemical Co Ltd, up 10.1 percent, followed by Jiangsu Yulong Steel Pipe Co Ltd...

  • JAKARTA, July 19- Indonesia's central bank kept its benchmark interest rate unchanged on Thursday, as expected, taking a pause in a monetary tightening cycle aimed at supporting the fragile rupiah. Bank Indonesia held the 7- day reverse repurchase rate at 5.25 percent, as expected by 17 of 19 economists in a Reuters poll. 19- Jul-2018 5.25 29- Jun-2018 5.25 30-...

  • TAIPEI, July 19- Taiwan Semiconductor Manufacturing Co Ltd cut its annual revenue and capital expenditure estimates on Thursday, as the world's largest contract chipmaker braces for slowing growth in the smartphone and cryptocurrency mining industries. TSMC, which makes chips for technology giants such as Apple Inc, Qualcomm Inc and Nvidia Corp, its lowered...

  • TOKYO, July 19- Japan's Nikkei share average snapped a four-day winning streak in choppy trade on Thursday as investors took profits, with weakness in inbound-tourism related stocks offsetting gains in oil names and machinery makers. "The Nikkei's level of 23,000 has become its immediate resistance, and when the index nears this level, profit-taking occurs,"...

  • By Mathieu Rosemain and Gwénaëlle Barzic. PARIS, July 19- France's Publicis Groupe SA reported an unexpected drop in second-quarter sales that caused its shares to fall sharply, pointing to the steep underperformance of its U.S. healthcare communications business. Nevertheless, the company's shares fell sharply in early session trading, with Publicis...