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Today's Top Market Headlines – Jul 28, 2017
Barclays suffers $1.6 billion first-half loss from Africa sale

Barclays (L:BARC) reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring.

The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group (J:BGAJ), and took a further 1.1 billion pound impairment charge on the sale.

Barclays in June cut its stake in Barclays Africa Group (J:BGAJ) to 15 percent, ending more than 90 years as a major presence in the continent as it shifts its focus back to Britain and the United States.

By Lawrence White and Andrew MacAskill

Source: http://bit.ly/2w5K9Es

Intel lifts forecasts as driverless tech, AI add to PC gains

Chipmaker Intel Corp (NASDAQ:INTC) raised its full-year revenue and profit forecasts on higher expectations for its mainstay personal computer business and growth in newer areas such as artificial intelligence and autonomous driving.

Shares of the world’s largest chipmaker, which also beat second-quarter estimates, were up 1.3 percent in after-hours trading on Thursday.

Intel has been grappling with a declining PC industry it helped found and has been pushing into making chips that power data centers and also into autonomous vehicle technology.


By Ismail Shakil

Source: http://bit.ly/2tIoG3F

UK consumer morale slips as economic mood hits four-year low - GfK

British consumer morale has sunk back to depths hit just after last year’s Brexit vote and worse may be to come as households’ view of the broader economic situation dropped to a four-year low, according to a survey on Friday.

Market research firm GfK’s consumer confidence index fell to -12 in July from -10 in June, a one-year low and slightly below the median forecast in a Reuters poll of economists.

The figures are likely to strengthen the conviction of Bank of England officials who want to keep interest rates on hold ahead of next Thursday’s policy decision.

“All bets must now be on a further drift downwards in confidence,” said Joe Staton, head of market dynamics at GfK.


Source: http://bit.ly/2tOVcVP

Tech sector depresses European shares on busy earnings day

European shares were led lower by tech stocks on Friday as they tracked losses among global peers following an earning miss at Amazon (NASDAQ:AMZN), while a flurry of company results failed to provide support.

The region’s tech index, the top performer so far this year, was down 1.5 percent, helping drag the pan-European STOXX 600 index down 1.1 percent by 0839 GMT. Britain’s FTSEfell 0.5 percent, while export-orientated German blue-chips, lately penalized by a strong euro, fell 0.7 percent.

“Weighing on the markets is not only disappointing results from Amazon and the strong euro, seasonally we are also nearing the end of July where traders like to take some profits,” City of London Markets trader Markus Huber said.


By Danilo Masoni

Source: http://bit.ly/2uEyXB3