Asia FX Edges Higher, Korean Won Surges Even As BOK Holds
Most Asian currencies rose on Thursday, recovering a measure of recent losses as the dollar saw some profit taking, with the won appreciating sharply even as the Bank of Korea held interest rates after 18 months of hikes. The South Korean won rose 0.6%...
Price Hikes Propel Danone’s Fourth Quarter Sales Above Estimates
Shares in Danone SA (EPA:DANO) rose on Wednesday after the French food products group reported better-than-expected fourth quarter sales that were fueled by higher prices. Total sales during the three months to the end of December jumped by 12% on a reported basis to...
Dollar Edges Lower; Fed Minutes Loom Large
The U.S. dollar edged lower in early European trade Wednesday, handing back some of the previous session’s gains as traders cautiously await the release of the minutes of the Federal Reserve’s February meeting. At 02:55 ET (07:55 GMT), the Dollar Index, which tracks the...
Asian Stocks Hit By Tech Rout, More Fed Cues Awaited
Most Asian stock markets sank on Wednesday tracking overnight losses on Wall Street, with technology-heavy indexes losing the most as caution kicked in ahead of the minutes of the Federal Reserve’s February meeting. Japan’s Nikkei 225, the Taiwan Weighted index, and South Korea’s KOSPI...
Home Depot Shares Slide On Weak Sales, Annual Profit Forecast
Home Depot Inc (NYSE:HD) forecast annual profit below Wall Street expectations on Tuesday, hurt by higher supply chain costs amid weakening demand for home improvement products due to inflation. The No. 1 U.S. home improvement chain also missed fourth-quarter comparable sales estimates, sending its...
IHG Adds $750 Million To Buyback, Raises Dividend As Travel Rebounds in 2022
InterContinental Hotels Group (LON:IHG) said it will buy back another $750 million of stock after the post-pandemic recovery in travel allowed it to post its best results in three years. The owner of the Crowne Plaza and Holiday Inn hotel chains profited handsomely from...
HSBC Logs Sharp Jump In Q4 Profit, Flags Special Dividend
HSBC Holdings PLC (LON:HSBA) logged a sharp jump in its fourth-quarter profit on Tuesday as rising interest rates greatly boosted its net interest income, while the bank also flagged a special dividend on the sale of its Canadian business. HSBC’s profit before tax for...
Raiffeisen Slumps After Confirming OFAC Request For Information On Russia Business
Shares in Raiffeisen Bank International (VIE:RBIV) slumped in early trade in Vienna on Monday, hurt by a report that it may be in trouble with U.S. authorities over its operations in Russia. The Austrian bank confirmed on Friday that the U.S. Office of Foreign...
Maersk Nears Complete Russia Exit After Selling Logistics Sites
Shipping and logistics group A.P. Moller-Maersk has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking the end of its business activities in the country. The group said the sale of its inland...
Asian Stocks Muted Amid Fed Fears, China Buoyed By Stimulus Hopes
Most Asian stocks kept to a tight range on Monday as markets awaited more cues on monetary policy from a slew of Federal Reserve events this week, while Chinese stocks rose sharply on the prospect of more stimulus spending by the government. China’s Shanghai...