junes

US STOCKS-Wall St lower on weak data, slump in oil prices

* June consumer spending records smallest gain in four months

* Oil prices hit six-month low

* Tyson Foods (NYSE: TSN - news) falls after profit forecast cut

* S&P down 0.12 pct, Nasdaq up 0.18 pct, Dow down 0.32 pct (Updates to open)

By Tanya Agrawal

Aug 3 (Reuters) - Wall Street was lower on the first trading day in August as oil prices touched a six-month low and data showed U.S. economy lost some momentum at the end of the second quarter.

Oil prices hit six-month lows earlier in the day, knocked by fresh evidence of growing oversupply and data highlighting slowing demand in China, leaving crude prices on course for their weakest third-quarter performance since the financial crisis in 2008.

Energy stocks were the biggest losers among the main S&P sectors, with Exxon Mobil (Swiss: XOM.SW - news) and Chevron (Swiss: CVX.SW - news) leading the losers. The companies also reported poor results on Friday.

In U.S. data, consumer spending recorded its smallest gain in four months, while the pace of growth in the U.S. manufacturing sector slowed in July.

On Friday, wage data showed that U.S. labor costs in the second quarter rose the least in 33 years.

Investors have been keeping a sharp eye on economic data for clues regarding the timing of the first rate increase in nearly a decade. The U.S. Federal Reserve has said it will hike rates only when it sees a sustained recovery in the economy.

“There are temporary setbacks but overall the Fed is on course to raise rates in September. The market is also more focused on the pace rather than the timing of the increase,” said Peter Cardillo, chief market economist at Rockwell Global Capital (Other OTC: CGHC - news) in New York.

At 9:51 a.m. ET (1351 GMT) the Dow Jones industrial average was down 55.85 points, or 0.32 percent, at 17,634.01, the S&P 500 was down 2.58 points, or 0.12 percent, at 2,101.26 and the Nasdaq Composite was up 9.21 points, or 0.18 percent, at 5,137.49.

Five of the 10 major S&P sectors were lower.

Investors are awaiting another batch of earnings this week - AIG, Allstate and General Growth Properties (NYSE: GGP - news) report after the market closes on Monday.

With more than half of the S&P 500 companies having reported their second-quarter results, analysts expect overall earnings to edge up 0.9 percent and revenue to decline 3.3 percent, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data.

Tyson Foods shares fell 9.5 percent to $40.14 after the biggest U.S. meat processor cut its profit forecast for the year, citing export market disruptions in its beef business and high cattle costs.

PartnerRe (NYSE: PRE - news) was up 2.1 percent at $138.87 after Italian holding company Exor said it would buy the company for $6.9 billion, ending a prolonged battle for the reinsurer and trumping a rival bid from Axis Capital Holdings . Axis (Stockholm: AXIS.ST - news) was unchanged at $57.56.

Declining issues outnumbered advancers on the NYSE by 1,634 to 1,125. On the Nasdaq, 1,317 issues fell and 1,061 advanced.

The S&P 500 index showed 15 new 52-week highs and 14 new lows, while the Nasdaq recorded 39 new highs and 39 new lows. (Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty)

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How I wish I could lie down on these fluffy clouds. :) | June 2015

Stocks Start Little Changed; CDW Jumps On Earnings

Stocks opened narrowly mixed on this first trading day of August amid some mixed economic reports. The Nasdaq rose 0.1%, while the S&P 500 slipped 0.1%. Meanwhile, the Dow Jones industrial average fell 0.3%, hurt once again by Chevron (CVX) and Exxon Mobil (XOM). Volume was running higher on both major exchanges compared with the same time Friday. In economic news, Markit’s PMI for July edged up to 53.8, matching views. But the ISM’s manufacturing index for July came in at 52.7, missing views for 53.7. Construction spending ticked up 0.1% in June, missing views for a 0.6% increase. Earlier, the Commerce Department reported that consumer spending rose 0.2% in June. While that matched expectations, it was the smallest gain in four months. CDW (CDW) gapped up and rallied 7% after beating views. Earlier in the stock market today, the provider of IT products reported Q2 earnings of 81 cents a share on sales of $3.31 billion. Views were for 70 cents a share on revenue of $3.24 billion. The stock is in a consolidation with a 39.42 buy point. Expedia (EXPE) added a little more than 1%, following through from Friday’s breakout past a 115.10 buy point from a flat base. Better-than-expected earnings from late Thursday fueled the breakout. Rival Priceline (PCLN) rose a fraction ahead of its quarterly results Wednesday morning. The stock is in a cup-with-handle base with a 1265.09 buy point. On the downside, Taser International (TASR) came under pressure for a third straight day. The stock dropped an additional 4% and breached support at its 200-day moving average. The stock has erased a 27% gain from a 28.40 buy point in a flat base and then some. Last week, the stun-gun maker posed Q2 results above views, but gave weak guidance. Immunogen (IMGN) fell 3% after getting a couple of downgrades. Cantor Fitzgerald cut shares to hold from buy, but raised its price target to 21 from 12. Despite the drop, the stock is still 6% past a 15.98 buy point from a flat base. However, it had been up nearly 22%. Eagle Materials (EXP), Nautilus (NLS), Noah (NOAH), Qualys (QLYS), Tenet Healthcare (THC) and Texas Roadhouse (TXRH) are a few highly rated companies reporting earnings after the close.

Questions

Name: heather
Nickname: Hevdog 🙈
Birthday: June
Star sign: Gemini
Gender: Female
Height: 5′7
Favorite color: Blue
Average hours of sleep: 7 hours
Favorite famous person: Tyler posey ATM 
Favorite book: Harry Potter 
Favorite band: All american rejects 
Last movie I saw: Jurassic world 
Dream job: Actress (in pretty little liars!)
Dream trip: any tropical island !

TABLE-U.S. June construction spending rises 0.1 pct

Aug 3 (Reuters) - U.S. Commerce Department seasonally adjusted annual rates of construction spending, with comparisons: PERCENT CHANGE: June May June'15/14 Total Spending 0.1 1.8 12.0 Private Spending -0.5 1.7 13.7

Residential 0.4 0.9 12.8

Lodging 3.4 8.3 41.9

Office -0.7 2.6 27.5

Commercial -4.4 0.5 7.4

Transportation -0.3 0.4 16.1

Manufacturing -0.8 6.0 62.0 Public Spending 1.6 2.1 8.0

Educational 0.2 0.1 3.6

Highways/streets 1.2 4.5 14.2

BILLIONS OF U.S. DOLLARS:

June May June'14 Total Spending 1064.6 1063.5 950.3 Private Spending 766.4 770.0 674.0

Residential 371.6 370.0 329.5

Lodging 21.5 20.8 15.1

Office 47.2 47.5 37.0

Commercial 62.7 65.6 58.4

Transportation 13.8 13.8 11.9

Manufacturing 88.3 89.1 54.5 Public Spending 298.2 293.5 276.2

Educational 67.2 67.1 64.9

Highways/streets 90.9 89.8 79.6

PREVIOUSLY REPORTED PCT CHANGES:

May April

Total Spending 0.8 2.1

Private Spending 0.9 2.2

Public Spending 0.7 1.7

Reuters survey of Wall Street economists forecast:

U.S. June construction spending +0.6 pct

European shares rise, ignoring slump in Greece market

* Athens reopens, slumps around 16 percent

* Major European stock markets gain

* Markets buoyed by Heineken, Commerzbank results

* Weak China data weigh on mining stocks (Adds quote, fresh prices)

By Sudip Kar-Gupta and Alistair Smout

LONDON, Aug 3 (Reuters) - European shares rose on Monday, shrugging off a slump by the Greek stock market when it reopened after a five-week shutdown, as strong results from Heineken and banks supported the broader market.

The pan-European FTSEurofirst 300 index rose 0.7 percent and the euro zone’s blue-chip Euro STOXX 50 index gained 1 percent. Germany’s DAX advanced 1.2 percent and France’s CAC 0.8 percent.

However, Athens’ benchmark ATG equity index dropped by around 16 percent, led by shares in the country’s major banks .

Trading was suspended in Athens in late June as part of capital controls imposed to stem an outflow of euros that threatened to collapse Greece’s banks and push the indebted country out of the euro zone.

Since then, Athens and the European Union have agreed a bailout plan in exchange for stringent reforms and budget austerity. But implementation of the deal is some way off, keeping alive the threat of political and economic instability.

Nevertheless, the impact of Greece on the rest of Europe has been mitigated by economic stimulus measures from the European Central Bank, whose record-low interest rates and liquidity have helped prop up European equities.

“A lot of overseas investors have stopped paying too much attention to Greece,” said Andreas Clenow, hedge fund manager and principal at ACIES Asset Management. “The ECB’s measures are helping to limit the negative fallout from Greece.”

Heineken shares rose 5.2 percent after the drinks company’s second-quarter results beat expectations.

“The makeup of the results is consistent with our argument of why Heineken is on a sustainable trajectory of margin growth,” James Edwardes Jones, analyst at RBC Capital Markets, said in a note. “Both brand and product mix look to be contributing.”

According to data from Thomson Reuters StarMine, 55 percent of companies listed on the European STOXX 600 index have beaten or met market expectations with their results so far this quarter.

The STOXX European 600 Banking Index gained 0.6 percent. Shares in HSBC edged up after the bank reported higher first-half earnings and announced the sale of its Brazilian unit to Banco Bradesco SA for $5.2 billion. .

Commerzbank also advanced, up 2.6 percent after the German lender reported higher profits.

Mining stocks fell, however, after weak economic data from China, the world’s biggest metals consumer.

The data showed that China’s factory activity shrank more than initially estimated in July.

Europe bourses in 2015: http://link.reuters.com/pap87v

Asset performance in 2015: http://link.reuters.com/gap87v

Today’s European research round-up (Editing by Robin Pomeroy)

China's slowdown threatens the euro zone core more than the fragile South

By Jamie McGeever

LONDON, Aug 3 (Reuters) - Few parts of the world will remain unscathed by the plunging stock markets and economic slowdown rocking China, but the companies of Europe’s soft underbelly may weather it best.

Countries comprising the euro zone’s periphery, such as Spain, Italy and Portugal, have relatively small exposure to the world’s growth engine. Core countries like Germany, France and The Netherlands have much deeper links.

Strong demand from China has fueled the boom in Germany’s German auto industry, the success of France’s luxury and fashion empires and solid growth in the Dutch and Finnish chemicals and capital goods sectors. Investment by their companies has grown accordingly.

But that demand may be cooling. China’s factory activity shrank in July at the fastest rate in two years, the country’s stock markets have slumped 30 percent since mid-June and growth could soon fall below 7 percent for the first time since early 2009.

“Germany has products China wants. But we’ve got slowing global trade, slowing global growth, and Germany has already benefited from its currency weakness advantage,” said Stewart Richardson, partner at RMG Wealth Management in London.“

"Germany suffers if China suffers. So on European equities, the periphery outperforms Germany,” he said.

European stocks have been the destination of choice for investors this year, with cash flowing in from emerging markets and the United States. A net $80 billion has gone into European equity funds this year, according to Bank of America Merrill Lynch.

The difference between core and peripheral euro zone countries’ exposure to China is clear from trade flows.

Around 8 percent of Germany’s exports go to China and about 5 percent of both France and Finland’s, according to Marc Chandler, head of global currency strategy at Brown Brothers Harriman in New York.

Compare that with the periphery: 3 percent of Italy’s overseas sales go to China, around 2.5 percent of Spain and Ireland’s, and only 2 percent of Portugal’s.

Of the top 37 European companies’ exposed to China in a list drawn up by UBS, only 16 are from the euro zone. Of those, 15 are from core countries Germany, France, Finland and The Netherlands.

Spanish retailer Inditex is the only company from the so-called euro zone periphery to appear on the list. And it is near the bottom, with only 10 percent of revenues coming from China.

ECB FACTOR

German automaker Daimler posted a 54 percent surge in second-quarter operating profit, to a record high of 3.8 billion euros, as sales of trucks and new luxury car model launches helped it defy a slowdown in China.

It remains to be seen how long it can defy gravity, though. Rival Audi last week lowered its global sales forecast because of slumping demand in China, the luxury-car brand’s biggest market.

China’s impact on European government bond markets has been muddied by the Greek crisis, which ultimately saw agreement between Athens and its creditors that should lead to a third multi-billion-euro aid programme for the cash-strapped nation.

July also saw the biggest monthly fall in Chinese stocks since the global financial crisis in late 2008.

In that roller-coaster month, the price of peripheral euro zone countries’ bonds rose faster than Germany’s, narrowing yield spreads. The premium demanded by investors to hold Spanish bonds over German bonds fell to 110 basis points from 165 basis points at the end of June.

And it’s worth noting that the peripheral countries are also the principle direct beneficiaries of the European Central Bank’s 1 trillion-euro bond-buying stimulus programme, which will run through September next year.

But to paraphrase the adage about the United States and the rest of the world, If China sneezes, won’t everyone else catch a cold? And within Europe, if Germany sneezes, won’t the rest of the continent catch a cold?

Fahd Rachidy, partner and chief investment officer at Sparrows Capital in London, played down the current economic relative outperformance of some peripheral countries like Spain and Ireland. Much of that just reflects their collapse in labour costs vis-à-vis the rest of the euro zone, he said.

“If Germany performs poorly because of the Chinese impact on international trade, then the periphery will follow as most of the intra-euro zone exchanges are with Germany,” said

“Extrapolating the Chinese situation to infer that investors favour the periphery over the core is a bit far-fetched,” he said.

(Reporting by Jamie McGeever; Additional reporting by Atul Prakash; Editing by Larry King)

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Pick a member

Tagged by captain-minhobi, thank youuu~. ♥( ´∀`) 

I’ll do it on this account tho.

Pick a member- BTS rules: pick ONE of the members listed for each question and explain why!! Be honest and don’t just pick your favorite for every answer. DO not choose a member who is not listed and answer all questions [credit to maker of got7 question tag] tag 10 peeps!

1. Amusement Park date with? ((Jin / Taehyung / Jimin))

Taehyung - do I really have to explain why?? xD 

2. Spend a lazy afternoon with? ((Jin / Jungkook / Yoongi))

Yoongi - sometimes I don’t feel like talking, though that doesn’t mean I don’t want to be around people I care about. Yoongi seems to be the type that is comfortable with silence and is ok with only a person’s presence

3. Play 1v1 sports with? ((Jimin / Hoseok / Taehyung))

Hoseok - he isn’t competitive, he would try his best to make it a fun game. I think I would really enjoy playing any sport with him hihi~

4. Make out session with? ((Yoongi / Jungkook / Jimin))

Jimin - daaamn, have you seen those lips???

5. Cheek kisses? ((Jin / Hoseok / Jimin))

Jin - JIN IS SUCH A CUTIE, I BET HIS KISSES ARE SO DAMN CUTE TOO ARDFADFAFGHF

6. Do a YouTube “boyfriend does your makeup” with? ((Hoseok / Namjoon / Taehyung))

Hoseok - he would be gentle like Namjoon, but still funny like Taehyung. Yup, he would be the best

7. Introduce to your parents? ((Jimin / Jungkook / Taehyung))

Jungkook - my mom likes Jungkook a lot lol

8. Go to a Haunted House with? ((Yoongi / Namjoon / Hoseok))

Namjoon - it would be so funny to see him struggling not to be scared because he wants to look manly awwww

9. Drunk nights with? ((Hoseok / Jimin / Jin))

Jimin - I get this feeling a drunk Jimin would be extra cuddlish xD

10. Who would you want to see do aegyo for a whole day as punishment? ((Namjoon / Yoongi / Jungkook))

Yoongi - HE IS THE KING OF AEGYO

11. Who would help you pick out outfits? ((Taehyung / Namjoon / Yoongi))

Namjoon - I like his style and…idk 

12. School Dance date? ((Jin / Namjoon / Hoseok))

Hoseok - I am an awful dancer, he is amazing -> balanced pair??

13. Sing a duet with? ((Taehyung / Jimin / Jungkook))

Taehyung - WE WOULD SCREAM OUR LUNGS OUT AND TRANSFORM A BALLAD INTO A DEATH METAL SONG AAAAA

14. Would make you breakfast in bed? ((Yoongi / Jin / Jungkook))

Jin - he is Bangtan’s mother, I bet his food is delicious. Plus, he would make the whole thing a romantic but still cute date aweeee

15. Go on a late night adventure with? ((Jungkook / Taehyung / Namjoon))

Taehyung - we’d have the time of our life, doing the craziest things without hesitating and not minding others

16. First time? ((Taehyung / Jimin / Yoongi)) omg

Jimin - his hormones are doing a mosh pit inside his little body, you feel me? However, we are talking about Jimin, so he would still keep it romantic and gentle

17. Whose clothes would you steal and wear? ((Jin / Taehyung / Hoseok))

Taehyung - THEY LOOK SO COMFY and they are hugeee, I could make a dress using only a t-shirt

18. Late night deep conversations? ((Namjoon, Yoongi, Jungkook))

Namjoon - he’s open minded, I could talk about anything with him

19. Who’d you have a play water fight with? ((Jimin / Hoseok / Taehyung))

Taehyung - becoming wild sharks together would be amazing

20. Who would you say you’re most compatible with? ((Chose any of the seven members, but remember, favoritism and compatibility are two different things))

Jungkook - our interests and hobbies are pretty similar, in certain situations we have the same reactions and he’s not the type to be taken aback if you’re not that feminine (which is good, cause I’m not thaaat feminine). He’s also a huge tease and I get really turned on when boys tease me lol.

I will be tagging szpeje, jamlesschimchim, great-person, curlybaek, june-bug24, bangtansus, yoru1ame, kastromical, sugatittaes, petrichoraline (don’t do it if you don’t want to!)

Clorox (CLX) Stock Up on Earnings Beat

NEW YORK (TheStreet) – Clorox stock is rising 2.12% to $114.31 on Monday morning after the company reported better than expected earnings results for the 2015 fourth quarter and fiscal 2015.

The company posted earnings of $1.46 per diluted share on revenue of $1.6 billion for the quarter ended June 30.

Analysts were expecting earnings of $1.37 per share on revenue of $1.5 billion.

Last year, Clorox reported earnings of $1.29 per diluted share on $1.5 billion in revenue for the fourth quarter.

The cleaning segment had the largest increase in sales, up 9%, followed by the household segment with a 4% increase, while the lifestyle and international sales were flat.

Additionally, Clorox reported earnings of $4.37 per diluted share on revenue of $5.7 billion for the year ended June 30.

The company was expected to post earnings of $4.52 per share on revenue of $5.6 billion, according to analysts surveyed by Thomson Reuters.

Clorox posted earnings of $4.32 per diluted share on $5.5 billion in revenue for fiscal 2014.

The company is expecting up to a 1% sales increase for fiscal 2016 with earnings of $4.68 to $4.83 per diluted share.

Separately, TheStreet Ratings team rates CLOROX CO/DE as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

“We rate CLOROX CO/DE (CLX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”

You can view the full analysis from the report here: CLX Ratings Report

CLX data by YCharts
TEN PEOPLE I WANNA KNOW BETTER TAG

Thanks to a-baka-fangirl   for tagging me! ^^

Name: Maria

Birthday: June 13th

Star sign: Gemini

Where I live: Italy

Height: 155 cm

Sexual Orientation:Heterosexual but slightly bi curious

Favorite Color: Blue

Current date and time: August 3rd

Average hours of sleep: in general about 7/8 hours

Lucky numbers: idk… 3 and 4 maybe?

Last thing I googled: “animeclick” , an italian website about anime/manga/ games/Japan

First thing that comes to mind: lemon popsicle

Words that comes to mind: hair and cushion

One thing that ticks me off: loud and/or repetitive noises (car alarms, dogs barks…) while I’m trying to sleep or read

Meaning of my URL: It doesn’t have a particular and deep meaning. Simply “sapphire” is my fave gemstone and “miko”, a japanese shintoist priestess, is a “character” that has always fascinated me.

Most used phrases: “uhm”, “I don’t know”, “It’s up to you”, “ok”, “whatever” and some idiotic italian phrases.

Number of blankets I sleep under: In the last 2 months I’ve slept with no sheets

Favorite fictional character(s): I’ve a lot of them but the main ones are currently Kasamatsu Yukio, Natsume Takashi, Aika Fuwa, Yona

Favorite famous people: at the moment I don’t have a particular one(s)

Favorite book(s): “Pride and prejudice” of J. Austen

Favorite band(s): Kalafina *^*

Most recently watched and enjoyed movie: I watched some movies recently but I didn’t really enjoyed them. However I remember the last one I actually liked is “Nausicaa of the valley of wind” (watched about 2 months ago)

Fav food: That’s difficult choosing only one but in general besides tomatoes I like vegetables (I think I’m the only one in the universe who loves them more than sweets)

Fav drink: orange juice (not the one producted by industries though)

Dream trip: Visiting all main european art towns ( like Paris, Madrid…)

Dream job: one that allows me to travel around the world and/or regarding history and art

Relationship status: *cough* DatingFictionalAnimeGuys *cough* single

I tag:   eagle-kun-is-love   naturalmesspotato    oh-god-its-aomine    steftraumer   alylu1999    fabulouspotatocat    ookaikeishin  kageyama-tobaeo  pyunsukee   furi-furihata-hata

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Comentarios y analisis general de actualidad.




Tomado de: Field Artillery Journal, May-June, 1950, vol. 40, No. 3.
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Comentando…
© Derechos Reservados

  Si War Against All Puerto Ricans es una novela o
historia novelada, todo lo que yo pueda decir aquí sale
sobrando, parcialmente.  Pero, como el mismo Nelson
Denis insiste en su entrevista con José Delgado de El
Nuevo Día, que se trata de un libro de Historia de
Puerto Rico, no queda más remedio que hacerle varios
señalamientos muy serios.  Ya que casualmente me
encuentro en una buena posición para opinar sobre el
tema, me veo forzado a elaborar un análisis en el que
contrasto las afirmaciones que hace Denis en esas
páginas, con información que vengo examinando
cuidadosamente a partir de diversas fuentes
documentales.

Antes de proseguir, aclaro que me concentro en
examinar solamente, por ahora, el capítulo 14,“The
OSS Agent”, del libro War against all Puerto Ricans.  
Señalaré punto por punto lo que a mi juicio y a partir
de la documentación y mejor evidencia disponible son
errores y omisiones imperdonables que podrían inducir
a error al lector. Vea más  
Tomado de: Waller Booth. Mission
Marcel-Proust: The Story of an Unusual OSS
Undertaking
. Philadelphia, Dorrance and
Company, 1972, back flap, dust jacket.
Por: Miguel A. Santiago Ríos
Nelson Denis y el espía que surgió de… ¿dónde?

2

I graduated back in May :) Whoop! Here’s a picture of my mister man, Cruize AKA Snuggles back in June. Also an illustration I did for an ongoing project with the AKC breed club, Collie Club of America. The illustration will appear in informative pamphlets soon. I will be sharing more of these over the next couple weeks so stay tuned!

THE NEW CHARLES XAVIER SCHOOL, established in June 2015, is the premiere school and training grounds for a new generation of mutant-kind. Based on Jeju Island, South Korea; the staff provide a learning experience for mutants of all ages and skill-sets that can’t be replicated elsewhere. Join squadrons of mutant trainees to learn how to not only control your abilities, but hone them as well. Humankind isn’t prepared for the threats that face them, but we will be.

         Only we have the power to change the world and give ourselves a future.

                                                                                                             This is our last chance!

          NOW ACCEPTING RESERVES & APPLICATIONS!

China's slowdown threatens the euro zone core more than the fragile South

By Jamie McGeever

LONDON (Reuters) - Few parts of the world will remain unscathed by the plunging stock markets and economic slowdown rocking China, but the companies of Europe’s soft underbelly may weather it best.

Countries comprising the euro zone’s periphery, such as Spain, Italy and Portugal, have relatively small exposure to the world’s growth engine. Core countries like Germany, France and The Netherlands have much deeper links.

Strong demand from China has fuelled the boom in Germany’s German auto industry, the success of France’s luxury and fashion empires and solid growth in the Dutch and Finnish chemicals and capital goods sectors. Investment by their companies has grown accordingly.

But that demand may be cooling. China’s factory activity shrank in July at the fastest rate in two years, the country’s stock markets have slumped 30 percent since mid-June and growth could soon fall below 7 percent for the first time since early 2009.

“Germany has products China wants. But we’ve got slowing global trade, slowing global growth, and Germany has already benefited from its currency weakness advantage,” said Stewart Richardson, partner at RMG Wealth Management in London.“

"Germany suffers if China suffers. So on European equities, the periphery outperforms Germany,” he said.

European stocks have been the destination of choice for investors this year, with cash flowing in from emerging markets and the United States. A net $80 billion has gone into European equity funds this year, according to Bank of America Merrill Lynch.

The difference between core and peripheral euro zone countries’ exposure to China is clear from trade flows.

Around 8 percent of Germany’s exports go to China and about 5 percent of both France and Finland’s, according to Marc Chandler, head of global currency strategy at Brown Brothers Harriman in New York.

Compare that with the periphery: 3 percent of Italy’s overseas sales go to China, around 2.5 percent of Spain and Ireland’s, and only 2 percent of Portugal’s.

Of the top 37 European companies’ exposed to China in a list drawn up by UBS, only 16 are from the euro zone. Of those, 15 are from core countries Germany, France, Finland and The Netherlands.

Spanish retailer Inditex is the only company from the so-called euro zone periphery to appear on the list. And it is near the bottom, with only 10 percent of revenues coming from China.

ECB FACTOR

German automaker Daimler posted a 54 percent surge in second-quarter operating profit, to a record high of 3.8 billion euros, as sales of trucks and new luxury car model launches helped it defy a slowdown in China.

It remains to be seen how long it can defy gravity, though. Rival Audi last week lowered its global sales forecast because of slumping demand in China, the luxury-car brand’s biggest market.

China’s impact on European government bond markets has been muddied by the Greek crisis, which ultimately saw agreement between Athens and its creditors that should lead to a third multi-billion-euro aid programme for the cash-strapped nation.

July also saw the biggest monthly fall in Chinese stocks since the global financial crisis in late 2008.

In that roller-coaster month, the price of peripheral euro zone countries’ bonds rose faster than Germany’s, narrowing yield spreads. The premium demanded by investors to hold Spanish bonds over German bonds fell to 110 basis points from 165 basis points at the end of June.

And it’s worth noting that the peripheral countries are also the principle direct beneficiaries of the European Central Bank’s 1 trillion-euro bond-buying stimulus programme, which will run through September next year.

But to paraphrase the adage about the United States and the rest of the world, If China sneezes, won’t everyone else catch a cold? And within Europe, if Germany sneezes, won’t the rest of the continent catch a cold?

Fahd Rachidy, partner and chief investment officer at Sparrows Capital in London, played down the current economic relative outperformance of some peripheral countries like Spain and Ireland. Much of that just reflects their collapse in labour costs vis-à-vis the rest of the euro zone, he said.

“If Germany performs poorly because of the Chinese impact on international trade, then the periphery will follow as most of the intra-euro zone exchanges are with Germany,” said

“Extrapolating the Chinese situation to infer that investors favour the periphery over the core is a bit far-fetched,” he said.

(Reporting by Jamie McGeever; Additional reporting by Atul Prakash; Editing by Larry King)

Vietnam comspanletes TPP bilateral negotiations with US, Jaspanan; finishes talks with all spanarties

New Post has been published on http://www.vntravelnews.com/vietnam-comspanletes-tpp-bilateral-negotiations-with-us-jaspanan-finishes-talks-with-all-spanarties.html

Vietnam comspanletes TPP bilateral negotiations with US, Jaspanan; finishes talks with all spanarties

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Vietnam has finished bilateral negotiations with two top economies, the U.S. and Japan, on the Trans-Pacific Partnership (TPP) trade agreement, according to the Vietnamese Multilateral Trade Policy Department.

Minister of Industry and Trade Vu Huy Hoang joined his counterparts from eleven other countries in negotiating the TPP in a ministerial meeting from June 28 to July 31 in Hawaii, in order to address remaining issues before concluding the TPP talks, the department under the Ministry of Industry and Trade said on Monday.

The TPP is a proposed regional free trade agreement aimed at eliminating tariffs and lowering non-tariff barriers that is being negotiated by 12 countries throughout the Asia-Pacific region.

The countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam, which collectively contribute almost half of global output and over 40 percent of world trade.

Minister Hoang was accompanied by a Vietnamese delegation of the leaders and representatives of some relevant ministries and state agencies, the department said.

After all the negotiations within the Hawaii meeting, Vietnam has completed all bilateral talks with all of the countries concerned.

The Vietnamese delegation involved in the negotiations worked with a positive attitude to protect the interests of Vietnam, while also willing to cooperate with the other TPP countries on the principle of mutual benefits in an effort to conclude their talks.

During the four-day meeting, Minister Hoang engaged in bilateral talks with U.S. Trade Representative Michael Froman and Japanese Economy Minister Akira Amari.

The Vietnamese minister also partook in meetings with Malaysian Minister for International Trade and Industry Dato’ Sri Mustapa Mohamed and Mexican Secretary of Economy Ildefonso Guajardo Villarreal.

He also talked to Minister for Trade and Industry of Singapore Lim Hng Kiang and Minister for International Trade of Canada Ed Fast on the sidelines of the meeting, the department added.

Talking to the press recently, Minister-Chairman of the Government Office Nguyen Van Nen said that the central government focused on directing the Vietnamese delegation to join the TPP negotiations.

These efforts included lobbying the U.S. delegation so that the U.S. will recognize Vietnam as a market economy to reduce barriers to Vietnamese goods when they are shipped to other markets in the TPP area, Nen said.

The TPP countries have made significant progress, leaving only a handful of issues that need more time for consultation locally following the meeting in Hawaii, according to the Vietnamese department.

They have pledged to continue maintaining the momentum of negotiations to resolve the outstanding issues as soon as possible, the department said.

Pacific Rim trade ministers on July 31 failed to clinch a deal to free up trade between the participating nations after a dispute flared up over auto trade between Japan and North America, New Zealand dug in over dairy trade and no agreement was reached on monopoly periods for next-generation drugs, Reuters reported.

Trade ministers from the 12 nations negotiating the TPP pact fell just short of a deal at talks on the Hawaiian island of Maui but were confident an agreement was within reach, according to Reuters.

Speaking at a press meeting after the negotiations ended in Hawaii on July 31, Japanese Economy Minister Akira Amari said it is likely that the next round of TPP talks will take place late this month.

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