News
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EU proposes cutting steel imports by 15% as Trump tariffs bite
BRUSSELS, March 19 (Reuters) - The European Union will tighten steel import quotas to reduce inflows by a further 15% from April, a senior EU official said on Wednesday, in a move aimed at preventing cheap steel flooding the European market after Washington imposed new tariffs.Reuters
Wed, Mar 19
US natural gas prices climb 2% to one-week high on record LNG flows, daily output drop
March 19 (Reuters) - U.S. natural gas futures climbed about 2% to a one-week high on Wednesday on record gas flows to liquefied natural gas (LNG) export plants and another drop in daily output.US gas output on track to hit monthly record in March.US LNG export feedgas set to hit monthly record...Reuters
Wed, Mar 19
Pfizer sells entire Haleon stake for $3.24 billion
March 19 (Reuters) - Drugmaker Pfizer PFE.N has sold its entire stake in Haleon HLN.L for about 2.5 billion pounds ($3.24 billion) to institutional investors and the consumer healthcare firm at 385 pence per share, a bookrunner for the deal said on Wednesday.
Reuters
Wed, Mar 19
Beijing woos global executives as FDI slides, trade tensions build
BEIJING, March 19 (Reuters) - Chinese trade officials are stepping up a charm offensive as Beijing seeks to assure global business leaders of the economy's long-term prospects despite a consumer slump and renewed trade tensions, meeting as many as four foreign executives early this week.
Reuters
Wed, Mar 19
REFILE-EU summit mustn't give impression of seeking US decoupling, Berlin says
BERLIN, March 19 (Reuters) - This week's European Union summit will discuss ways of strengthening Europe's ability to defend itself alone but try to avoid creating the impression Europe is distancing itself from the U.S., a German government official said on Wednesday. "We don't want...Reuters
Wed, Mar 19
Nvidia, Musk's xAI to join Microsoft, BlackRock and MGX to develop AI infrastructure
March 19 (Reuters) - Nvidia and Elon Musk's xAI have joined a consortium backed by Microsoft, investment fund MGX and BlackRock to expand AI infrastructure in the U.S., the companies said on Wednesday, as a global race to dominate the nascent technology intensifies.The group, formed last year wi...Reuters
Wed, Mar 19
Baird lowers Adobe's PT amid choppy macro, marketing challenges
Baird cuts PT on Adobe ADBE.O to $410 from $490, which represents a 4.7% upside from the co's last close. We believe a multiple near the low end is justified due to ongoing macro pressures on Adobe's business as well as increasing competitive threats - Brokerage
Reuters
Wed, Mar 19
Ark Invest dumps Meta shares as Big Tech stocks continue to struggle
Cathie Wood’s Ark Invest is pulling out of Meta. The firm sold 12,595 shares of the tech giant on March 17, followed by another 2,160 shares on Tuesday. This is the first time in a year that Wood’s fund has dumped shares of Meta, after spending most of 2024 buying up stock. Data compiled by...
Cryptopolitan
Wed, Mar 19
Tencent Q4 Profits Nearly Double! AI Dominates, But Can Growth Momentum Last Through 2025?
TradingKey — Driven by robust advertising and gaming performance, Tencent Holdings (0700.HK) delivered better-than-expected revenue and profit growth for Q4 2024 and the full year. While the tech giant is aggressively embracing AI, analysts warn that its 2024 momentum may struggle to sustain into...TradingKey
Wed, Mar 19
Diverging Fortunes of Auto Giants: BYD Hits Record High, Tesla Halved, Toyota’s P/E at Historic Low
TradingKey — Technological advancements are reshaping the global automotive landscape, and capital markets are reacting starkly differently to leading automakers across regions. While China’s BYD surges to new highs, Tesla’s stock has halved in three months, and Toyota’s P/E ratio languishes near...
TradingKey
Wed, Mar 19
Turkey in Turmoil! Stock Market Halts Trading, Lira Plunges to Record Low
TradingKey — On March 19, Turkish President Recep Tayyip Erdoğan’s main political rival, Istanbul Mayor Ekrem İmamoğlu, was abruptly detained by police, escalating political purges and triggering market turmoil that hammered Turkish stocks, bonds, and the currency.
TradingKey
Wed, Mar 19
More Significant Than Rate Cuts – Fed’s March Meeting Focuses on "QT Pause" Window
TradingKey — As Trump’s tariff policies rattle U.S. economic growth prospects and market confidence, the Federal Reserve’s March policy meeting has become a focal point for investors. Beyond Chair Jerome Powell’s remarks and the quarterly "dot plot," whether the Fed will end its QT...TradingKey
Wed, Mar 19
USD: Fed may defy dovish bets for now – ING
The US Dollar (USD) enters FOMC day with a good deal of bearish momentum. Despite Treasury Secretary Scott Bessent’s attempts to quell recessionary fears, high-frequency indicators have kept pointing down and still favour a rotation away from US assets. The latest Fund Manager Survey from Bank...Fxstreet
Wed, Mar 19
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $66.53 per barrel, down from Tuesday’s close at $66.55. Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $70.03 after its previous daily close at $70.07.
Fxstreet
Wed, Mar 19
PRECIOUS-Gold climbs to record high on safe-haven demand; Fed decision in focus
Gold hits all-time high of $3,045.24/ozU.S. Fed's interest rate verdict due later in the dayIsrael warns more to come as airstrikes kill over 400 in Gaza By Anjana Anil March 19 (Reuters) - Gold rose to a record high on Wednesday as tensions in the Middle East and U.S. tariff uncertainties li...Reuters
Wed, Mar 19
Pound Sterling trades with caution against US Dollar as Fed policy takes centre stage
The Pound Sterling (GBP) struggles to extend the rally above the key level of 1.3000 against the US Dollar (USD) in European trading hours on Wednesday. The GBP/USD pair trades cautiously ahead of the Federal Reserve’s (Fed) monetary policy decision at 18:00 GMT.
Fxstreet
Wed, Mar 19
METALS-Copper firms at five-month high; focus on potential Trump tariffS
SHANGHAI, March 19 (Reuters) - Copper prices on the London Metals Exchange (LME) held firm near a five-month high on Wednesday, with markets watching out for potential U.S. tariffs on copper.Benchmark three-month copper CMCU3 on the LME was up 0.2% to $9,923 a metric ton as of 0723 GMT. Prices hit a...Reuters
Wed, Mar 19
Tencent’s AI push could fuel China stock rally—but BoFA sees a correction coming
Tencent is betting big on AI, and investors are paying attention. The company’s upcoming earnings report will reveal just how much it plans to spend to compete with Alibaba, whose stock has already surged on the back of DeepSeek’s AI boom.Cryptopolitan
Wed, Mar 19
JGB yields steady as BOJ holds rates as expected
TOKYO, March 19 (Reuters) - Japan's government bond (JGB) yields were little changed on Wednesday after the Bank of Japan kept short-term interest rates steady at 0.5% as investors awaited comments from the central bank chief for hints on the monetary outlook.Reuters
Wed, Mar 19
Trump to clear Venture Global LNG exports from stalled Louisiana project, Bloomberg News reports
March 19 (Reuters) - U.S. President Donald Trump's administration is set to grant Venture Global LNG Inc. conditional approval to export natural gas from a proposed Louisiana facility, which had faced delays under former President Joe Biden, Bloomberg News reported on Wednesday.Reuters
Wed, Mar 19
Samsung CEO says company will pursue deals as it struggles for growth
Samsung is looking at major deals this year to drive growthVows to regain its chip competitiveness this yearSamsung shares up 2.3% vs 0.9% gain in broader marketBy Hyunjoo Jin and Heekyong Yang SUWON, South Korea, March 19 (Reuters) - Samsung Electronics 005930.KS said on Wednesday it is looking ...Reuters
Wed, Mar 19
FOREX-Yen choppy after BOJ holds, dollar dithers ahead of Fed outcome
Yen volatile after BOJ stands pat on ratesFed decision key for markets on WednesdayEuro near five-month peak on German fiscal reformBy Rae Wee SINGAPORE, March 19 (Reuters) - The yen swung between losses and gains on Wednesday after the Bank of Japan (BOJ) kept interest rates unchanged as widelyReuters
Wed, Mar 19
Japan's Nikkei rises as weaker yen boosts automakers; BOJ stands pat
By Kevin Buckland TOKYO, March 19 (Reuters) - Japan's Nikkei share average rose on Wednesday, with automaker shares helped by a weaker yen, while the Bank of Japan kept interest rates unchanged as widely expected.The Nikkei .N225 entered the midday trading recess 0.7% higher at 38,107.27, and...Reuters
Wed, Mar 19