(RTTNews) - European stocks were moving higher on Monday as German retail sales data for March beat forecasts, boosting hopes of a rapid economic recovery.
German retail sales grew by a real 7.7 percent on a monthly basis in March, Destatis reported. That was faster than the 2.7 percent increase in February and 3 percent rise economists had forecast.
On a yearly basis, retail sales rebounded 11 percent, reversing a 6.6 percent fall in the previous month and confounding expectations for a decrease of 0.3 percent.
Eurozone PMI Manufacturing was finalized at 62.9 in April, up from March's 62.5, highest since record began in 1997, Markit said earlier in the day.
The pan European Stoxx 600 rose 0.3 percent to 438.63 after declining 0.3 percent on Friday. The German DAX rose half a percent and France's CAC 40 index was up 0.4 percent, while the U.K. markets were closed for a public holiday.
Novartis shares gained about 1 percent. Sandoz, a Novartis unit, said it will begin enrolling the first patient in MYLIGHT, a clinical Phase III confirmatory efficacy and safety study, shortly.
Dutch telecom firm Royal KPN NV tumbled 3.6 percent. The company confirmed that it has rejected an unsolicited takeover offer from a private equity consortium comprising EQT and Stonepeak.
German medical technology company Siemens Healthineers rose over 1 percent.
The company has again raised outlook for fiscal 2021 based on continued strong business development in the second quarter and the transformative merger with Varian.
(RTTNews) - The Australian stock market is marginally lower in chopping trading on Monday, with the benchmark S&P/ASX 200 hovering below the 7,100 level, as gains in financial and materials stocks is offset by gold miners and energy stocks. However, the cues from Wall Street on Friday were broadly positive.
The benchmark S&P/ASX 200 Index is losing 8.60 points or 0.12 percent to 7,052.10, after touching a high of 7,075.20 and low of 7,048.40 earlier. The broader All Ordinaries Index is down 8.40 points or 0.12 percent to 7,312.30. Australian stocks closed marginally higher or flat on Friday.
Among the major miners, BHP Group and Mineral Resources are edging up 0.5 percent each, while Rio Tinto is gaining almost 1 percent and Fortescue Metals is up more than 1 percent.
Oil stocks are lower, with oil Search and Santos flat, while Woodside Petroleum is edging down 0.2 percent.
The big four banks are higher. National Australia Bank is gaining more than 1 percent and Westpac is adding almost 1 percent, while ANZ Banking and Commonwealth Bank are edging up 0.3 percent each.
Westpac reported that its first-half profit will take a $282 million hit from provisions for refunds and litigation, write-downs and various other 'notable items.' The lender also added that It had made a $288 million gain on the revaluation of its minority stake in crypto-currency exchange Coinbase.
Among tech stocks, Afterpay is gaining almost 1 percent, while WiseTech Global is edging down 0.3 percent and Appen is losing almost 1 percent.
Gold miners are lower after gold prices softened on Friday. Newcrest Mining and Evolution Mining are losing more than 2 percent, while Star Resources is down almost 2 percent.
Shares in nib Holdings are soaring more than 12 percent after the health insurer reinstated profit guidance for the first time since pandemic lockdowns began. The company predicted a full year profit of between $200 million and $225 million.
In the currency market, the Aussie dollar is trading at $0.776 on Monday.
On Wall Street, stocks showed a strong move back to the upside during trading on Friday after coming under pressure over the course of the previous session. The major averages all moved to the upside on the day, although the Dow underperformed its counterparts.
The major averages pulled back off their highs going into the close but remained firmly positive. The Dow climbed 227.59 points or 0.7 percent to 34,043.49, while the Nasdaq surged up 198.40 points or 1.4 percent to 14,016.81 and the S&P 500 jumped 45.19 points or 1.1 percent to 4,180.17.
Meanwhile, European stocks climbed off their worst levels of the day but still closed mostly lower. While the U.K.'s FTSE 100 Index closed nearly unchanged, the French CAC 40 Index dipped by 0.2 percent and the German DAX Index fell by 0.3 percent.
Crude oil prices moved higher on Friday, lifted by buoyant demand for energy in the U.S. despite a weak global outlook. West Texas Intermediate Crude futures for June ended up by $0.71 or 1.2 percent at $62.14 a barrel. WTI crude futures shed 1.7 percent in the week.
All amounts expressed in US dollars TORONTO, May 01, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) confirmed today that it had referred a tax claim by the Senegalese Revenue Authority (SRA) to the International Chamber of Commerce (ICC) for arbitration after numerous attempts to resolve the issue with the government had failed.The SRA has levied an unaudited assessment totaling $208 million (calculated as of March 31, 2021) for taxes it claims arose from Barrick’s sale of its interest in the Massawa project to Teranga Gold Corporation last year. Barrick said the proposed assessment was not in accordance with its investment agreement and relevant legislation in place, and in order to resolve the dispute, Barrick has referred the matter to the ICC which is the dispute resolution forum provided for in its agreement with the State of Senegal.The arbitration process will start when the SRA has appointed its arbitrator. Barrick said in the meantime it would continue to engage with the government to resolve this matter. Barrick and its predecessor Randgold has been a partner and investor in the Senegalese mining industry since 1995, and continues to invest in its exploration projects, as well as through its investment in Endeavour Mining Corp.Enquiries
President and CEOMark Bristow+1 647 205 7694+44 788 071 1386Country Manager SenegalDavid Mbaye+221 76 33 93 714Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: email@example.comWebsite: www.barrick.com Cautionary Statement on Forward-Looking InformationCertain information contained in this press release, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “will”, “would”, “continue” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Barrick’s strategy for the resolution of the Senegalese tax dispute through arbitration and continued engagement with the Senegalese Revenue Authority, and Barrick’s continuing investment in exploration projects in Senegal.Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: timing of receipt of, or failure to comply with, necessary permits and approvals, including with respect to the assumption of closure obligations; the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Senegal; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; failure to comply with environmental and health and safety laws and regulations; litigation, arbitration and legal and administrative proceedings; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; and damage to Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements.Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.