Markets

Yen firms after North Korea says considering plan to strike Guam

Yen firms after North Korea says considering plan to strike Guam

Risk off sentiment was broadly pervasive through the currency markets especially with European stocks set to follow Asia's lead lower with major index futures indicating a 0.5 to 0.8 percent decline. That's the index's lowest level in two months.

On Wall Street, stocks closed modestly lower on Tuesday after remarks by President Donald Trump added to concerns about rising tensions between the US and North Korea.

"The typical text book trade is that investors rush for safe havens". -North Korea tension, though some analysts said gains may be overdone.

Donald Trump's threat to unleash "fire and fury like the world has never seen" upon North Korea sent people seeking refuge-in the Swiss franc. The VIX last stood at 11.49, just below Tuesday's high of 11.52.

Instead, investors turned to the traditional safe-haven assets sought in troubled times, the Japanese yen strengthened 0.5 percent to 109.73 to the dollar, an eight-week high, and the Swiss franc reversed a two-week losing streak and gained almost 1 percent to 0.9650 per dollar.

Kathleen Brooks, research director at City Index Direct, said: "The Swiss franc is the safe haven of choice today as risk sentiment gets hit from escalating nuclear fears between the United States and North Korea". The Russell 2000 index of smaller-company stocks gave up 13.20 points, or 0.9 percent, to 1,396.95.

Diageo plc (DGE) PT Raised to GBX 2700 at Credit Suisse Group
Henry Schein Inc. had 20 analyst reports since July 31, 2015 according to SRatingsIntel. $189,176 worth of Henry Schein, Inc. The shares were acquired at an average price of GBX 235 ($3.06) per share, for a total transaction of £3,532.05 ($4,599.62).

"Heightened geopolitical risks overnight have seen the markets flip from risk-on to risk-off and we have to wait and see how long this move runs before adding some positions", said Viraj Patel, an FX strategist at ING in London.

Tokyo was flat by the break as the yen stabilised against the U.S. dollar after the greenback edged higher from eight-week lows yesterday.

The euro slid 0.6 per cent to 128.92 yen, and fell 0.2 per cent against the dollar to $1.1732.

Yields on core government debt fell. Gold gained 1%, or $12.72 an ounce, to $1,275.32.

As well as monitoring the geopolitical backdrop, investors are looking ahead to an appearance Thursday by Bill Dudley, president of the U.S. Federal Reserve Bank of NY, for signs of the Fed's outlook on the economy.

Oil prices nudged higher with global benchmark Brent Crude up 0.65%, and USA benchmark West Texas Intermediate up 0.61% recently after OPEC made a decision to extend output cuts by nine months to March 2018.


  • N3 closed in Joburg as bridge collapses

    N3 closed in Joburg as bridge collapses

    Five people were injured when the structure came down in the early hours of Wednesday morning. But demolition teams and clean-up crews had it cleared and open to traffic by 6am on Thursday.
    Marijuana Use Triples Death Risk from Hypertension

    Marijuana Use Triples Death Risk from Hypertension

    Marijuana stimulates the sympathetic nervous system, leading to increases in heart rate, blood pressure, and oxygen demand. The study said there was no relationship between pot use and heart disease or cerebrovascular problems like strokes.
    TSX falls as North Korea tensions spur flight to safety

    TSX falls as North Korea tensions spur flight to safety

    TIME OUT: Fossil tumbled 23.6 percent after the watch maker said sales continued to weaken, falling short of analysts' estimates. ENERGY: Benchmark U.S. crude gained 1 cent to $49.57 a barrel in electronic trading on the New York Mercantile Exchange.
  • Japan says it 'can never tolerate' North Korea's provocations

    Japan says it 'can never tolerate' North Korea's provocations

    A Filipino community leader in Guam on Thursday said North Korea's threat to bomb the USA territory is a concern for many of them. Guam, the United States territory and military base in the Pacific Ocean, is rarely on the tips of our tongues.
    Reed Questions Trump's North Korea Saber-Rattling

    Reed Questions Trump's North Korea Saber-Rattling

    Hours later, the rogue state retaliated - saying it was "carefully examining" a plan to strike the US Pacific territory of Guam. Trump's tweet that America's nuclear arsenal is "now stronger and more powerful than ever before" is debatable.
    Rapoport Report: Reinstatement Of Martavis Bryant Could Be Days Away

    Rapoport Report: Reinstatement Of Martavis Bryant Could Be Days Away

    Bryant figures to slot alongside Antonio Brown and give Pittsburgh perhaps the best 1-2 wide receiver punch in the AFC this year. As we all know by now, that didn't happen and Bryant still isn't practicing with the team as of Wednesday afternoon.
  • The latest Game of Thrones trailer brings us a huge clue

    The latest Game of Thrones trailer brings us a huge clue

    In addition to the promo for Season 7, episode 5 , HBO has released eight new photos for " Eastwatch ", which can be viewed below. Before I started I went to lunch with David Nutter, who is another director who has done some incredible work on the show.
    Neymar Splashes $35m on Luxury Yacht Ahead of Paris Debut

    Neymar Splashes $35m on Luxury Yacht Ahead of Paris Debut

    Former PSG defender Alex is afraid for defenders who will have to come up against the trio of Neymar , Di Maria and Cavani. Alex added: "I hope that Neymar will arrive with the same football that he played in Barcelona ".
    Stocks down, gold up after North Korea threat

    Stocks down, gold up after North Korea threat

    It has limited self-government, with a popularly elected governor, small legislature, and non-voting delegate in the U.S. There's a sense of patriotism among those who cite the island's history of Guam residents serving in the US military.
  • Gov. Matt Bevin says Kentucky will fight for new Toyota-Mazda plant

    Gov. Matt Bevin says Kentucky will fight for new Toyota-Mazda plant

    The MPV is said to be based on the Mitsubishi XM concept which was showcased at the same auto show past year . The deal could be announced as soon as Friday, the newspaper said.
    Starbucks Corporation (SBUX) Earns News Sentiment Score of 0.12

    Starbucks Corporation (SBUX) Earns News Sentiment Score of 0.12

    BMO research lowered its 12-month price target to $56 from $64, representing almost 3 percent upside from Tuesday's close. The coffee company reported $0.55 EPS for the quarter, hitting the Thomson Reuters' consensus estimate of $0.55.

    GOP Sen.: Trump needs approval for preemptive strike on N Korea

    It is generally believed that foreign adversaries deliberately try to test a new USA president early in the first term. Tillerson says that "Americans should sleep well at night".