The Dark Side of Technology: Part 2

By MoneyMorning.com.au

Yesterday we told you your online activities have likely been monitored and your information already gleaned. But with some simple checks and measures in place you can reduce your risk.

Aside from The Dark Web, the shadowy underworld of online activity, there are some other aspects of technology that you need to concern yourself with.

Take for instance our ever increasing knowledge of the human genome and the current work to map the neurones and connections of the brain. This will help take the world forward in neuroscience and our understanding of human biology. It will also help us develop computer and artificial intelligence systems to improve the efficiencies of the world.

Don’t Think About It, It Might Land You in the Slammer

But of course there is a dark side to all this. What if particular brain activity and genes that you had meant that were potentially a psychopath, or a career criminal?

Think about it. What if because of your DNA, and your brainwaves, scientists could predict that you were more likely to commit crime in your life?

What if they had the power to lock you up…even before you’d actually committed a crime? And who’s to say you would ever commit a crime? Because science also says environmental factors play a significant role in criminal activity.

We all know governments love to find a way to control citizens and they always find a way to take an authoritarian approach to crime. With the use of powerful supercomputers, algorithms, molecular and neuroscience maybe the next step in fighting crime is to predict it. It’s already happening.

Scientists in New Mexico are already using brain scans to predict criminal behaviour,

The scientists studied the brains of 3,000 convicted criminals using magnetic resonance imaging. They specifically studied the anterior cingulated cortex (ACC), a brain region associated with error processing. What they found is that inmates with low ACC activity were twice as likely to commit crimes within four years of being released as those with high ACC activity.

And if the study of the brain goes a way to predicting criminal behaviour, what if even before a child is born genetics will be able to determine criminal traits?

With readily available technology you could manipulate the unborn child’s genes to silence the unwanted genes, breeding crime out of future generations.

Not only does that kind of genetic manipulation throw up a whole range of ethical issues, but it also goes a long way towards generations of genetically modified children. Is that wrong? Or is that the inevitable way of the future?

That’s a whole different discussion which we won’t delve into now. But one thing’s for sure, molecular technology will have a big impact on the lives of generations now and generations that aren’t even born yet.

Iraq, Iran…What About Albert Park?

Finally one of the more underground elements of the dark side of technology is accessibility of illegal things to everyone.

With the internet effectively connecting everyone it means more and more people have the resources available to take part in illegal activity.

Put it this way. Right now without too much stress we could anonymously get online, find our way through to a black market website and purchase guns, high powered lasers or illegal substances.  It’s as easy as shopping on Catch of The Day or eBay.

And if you’re a smart kid, with an interest in science, there’s opportunity (with the wrong influences) to start down a path that leads to some pretty terrifying stuff. Michio Kaku, a famous Theoretical Physicist, describes the potential dark side technology has for the generations to come,

You can create a laser beam, a laser beam with exactly the energy of the difference between these two [Uranium, U235 and U238] so that you can activate one but not the other. In other words laser beams can be used to zap these atoms and separate out U235 from U238. Well this means in some sense somebody in their basement at some point in the future might be able to build a separation device to create U235. That’s a nightmare we don’t have yet, but it’s a nightmare we will have in the coming years as the price of laser enrichment of uranium goes down.

What Kaku is describing is the potential for someone with access to the right tools in the near future to create enriched uranium. In other words weapons grade uranium. Forget Iraq and Iran, it might mean weapons of mass destruction (WMD’s) next door!

The building works across from our office looks to have a suspiciously fortified basement being constructed…maybe it’ll be a secret science lab? A nuclear test facility? It’s unlikely, but it’s possible in the near future. Who really knows what goes on in the neighbour’s basement science lab?

It’s a pretty extreme example of the kind of dark activity technology provides access to. But you need to understand that it’s something that will always lurk around the corner in the shadows. The dark side of technology is always going to be complimentary to the positive advances it brings.

The best way to combat the dark side of technology is to understand it and don’t get paranoid about it. By getting a grasp of the things that are possible, and the likelihood of things actually occurring, you will have a better understanding of how to deal with it.

Yes you will likely be hit with a virus of malware, yes your information at some point will likely be used without permission and yes your neighbour will likely make some homemade rockets (WMD’s are unlikely). But don’t get paranoid about it. There are more positives  to take out of technology than bad points.

Just be smart. Have secure passwords, don’t divulge with information so freely, be aware of your surroundings and take care online just like you would if you were walking the streets at night on your own.

When you see the warning signs, when you notice something is awry in your bank account, when you read that Nigerian email, or notice your son is spending way too much time in the basement with his lasers, you’ll be able to take action.

As we all have a greater understanding of technology, the good and the bad, we will be able to help shape the future to ensure good technology always outstrips the dark side.

Sam Volkering+
Technology Analyst, Revolutionary Tech Investor

Join Money Morning on Google+

From the Archives…

Why Invest ‘Hard’ When You Can Invest ‘Easy’?
19-07-2013 – Kris Sayce

Read This Before You Buy Another Stock or Bond…
18-07-2013 – Murray Dawes

Could Uranium be the Best Investment in 2013?
17-07-2013 – Dr Alex Cowie

Asteroid Mining and the Commercialisation of Space
16-07-2013 – Sam Volkering

Why the Australian Share Market is Heading Even Higher
15-07-2013 – Kris Sayce

AUDUSD is facing 0.9305 resistance again

AUDUSD is facing 0.9305 resistance again, a break above this level will indicate that the downtrend from 1.0582 (Apr 11 high) had completed at 0.8998 already, then the following upward movement could bring price back to 1.0000 zone. On the downside, as long as 0.9305 resistance holds, the price action from 0.8998 could be treated as consolidation of the downtrend, one more fall towards 0.8500 is still possible after consolidation.

audusd

Provided by ForexCycle.com

3 Ways to Boost Your Investing IQ

By The Sizemore Letter

From Covestor:

A good investing IQ goes hand in hand with strong financial knowledge and decision-making skills. That’s something that the majority of Americans lack, according to the latest nationwide study that seeks to measure the financial capability of U.S. adults.

The National Financial Capability Study sponsored by the FINRA Investor Education Foundation asked participants five questions that tested their fundamental financial knowledge. They attempted to cover only the basics, such as principles related to risk and diversification, the relationship between bond prices and interest rates, and principles of compound interest and inflation.

Only 39% of those questioned were able to get the right answer for four or more of the questions.

“In other words, the average investor would have a failing grade,”  says Charles Sizemore, portfolio manager on the Covestor platform.”This is very troubling because never before have investors had to take this much responsibility for their own finances. They lack the basic knowledge they need to invest and manage their financial lives.”

In his latest Google Hangout interview, Sizemore says to read these three things if you want to start boosting your investment IQ:

1) “Financial Times”. He calls it the “best newspaper available” for understanding how current events relate to your investments. It’s a daily read, he says.

2) Fooled by Randomness” by Nassim Nicholas Taleb. It’s a book that deals with the frailty of human knowledge as it relates to the markets, and how luck is often mistaken for skill.

3) Go to sites including www.covestor.com to track what other investors are doing in the markets and to learn about the reasons behind their moves.

This replay represents statements made live on July 18, 2013. All opinions included in this material are as of July 18, 2013 and are subject to change. The opinions and views expressed herein are of the portfolio manager and may differ from other managers, or the firm as a whole.

SUBSCRIBE to Sizemore Insights via e-mail today.

OANDA Partners with Autochartist to Deliver Innovative Automated Forex Technical Analysis

Editor’s Note: Oanda, one of the largest and most popular online forex brokers, has teamed up with Autochartist to allow customers of Oanda to use Autochartist with their accounts. See full explanation press release below:

————————————————————————————–

New technical research solution integrates the power of Autochartist with OANDA’s award-winning fxTrade platform and MT4 offering

  • Clients benefit from unique fxTradeNOW functionality that enables them to trade directly from the analysis screen, for faster reaction to trading opportunities

NEW YORK – July 22, 2013 – OANDA has introduced a powerful new solution for currency traders who use technical analysis in their trading strategies. The pioneering retail forex dealer has partnered with Autochartist to develop OANDA Technical Analysis, an automated technical research application that is integrated with OANDA’s popular trading platform, fxTrade. It also has an optional MT4 plug-in for traders who use automated trading strategies.

OANDA Technical Analysis is available free to all OANDA trading clients (practice account users will have access for a limited time; analysis in the demo environment is delayed by five candlesticks). The software scans more than 10,000 market data points per minute to identify price trends and chart patterns. It then automatically alerts clients to potential trading opportunities as they emerge and enables them to trade directly from the analysis screen using OANDA’s unique fxTradeNOW feature.

“Trading forex is risky and traders often use technical analysis to look for price trends that help inform their decisions in this highly volatile market. OANDA Technical Analysis automates that process,” said Trevor Young, Senior Director of Product Management, OANDA. “It’s a powerful tool that helps traders include advanced technical analysis as part of their overall trading strategy, without the need to spend time developing complex algorithms. The solution’s large-scale automated market scanning and customizable auto-alerts help to call out potential trading opportunities that traders may otherwise overlook.”

Young added that the Autochartist-powered solution is the first to come from OANDA’s new industry partnership program.

“We are working with a select group of trusted partners, such as Autochartist, that complement our technology and enable us to enrich the trading experience we offer to clients,” he said. “The goal is to broaden OANDA’s offering through a software development ecosystem based on strategic partnerships with companies that share our values of fairness, transparency, and innovation.”

Ilan Azbel, President and CEO of Autochartist, said his firm is excited to be part of OANDA’s partner ecosystem and contributing to the development of innovative solutions.

“With OANDA Technical Analysis, OANDA has launched a revolutionary product that enables clients to execute trades from directly inside the application through integrated ‘fxTradeNOW’ functionality – this saves traders the time and hassle of launching a separate browser window to execute trades once they’ve done their technical analysis,” Mr. Azbel said. “It’s exciting for us that OANDA has plans to go way beyond our ‘vanilla’ offering to fully integrate the Autochartist API with their Java web and mobile platforms, bringing the power of our two platforms together for the benefit of traders.”

 

Gold Jump Pulls Miners Higher as Asian Dealers Fear Summer Shortage

London Gold Market Report
from Adrian Ash
BullionVault
Monday, 22 July 08:10 EST

The WHOLESALE price of gold leapt in thin Asian trade Monday morning, jumping 1.7% inside half-a-minute and then extending its run in London to new 1-month highs at $1322 per ounce.

 London-listed gold equities followed, with shares in Randgold Resources – tipped today by analysts at both J.P.Morgan and Morgan Stanley as better able to cut costs and avoid write-downs than competitors – rose 2.5%.

 So too however did shares in African Barrick Gold – named by Morgan Stanley as a gold miner facing “heightened risks [with] limited scope to raise returns.”

 Russian gold miner Petropavlovsk, which by end-May had sold forward 70% of its 2013 output to hedge the falling gold price, meantime rose over 4.3% on the London stock market, taking its rally of the last two weeks above 40%.

 Shares in the former million-ounce miner remained 75% below the start of 2013, however.

 Randgold Resources was trading today 25% down for the year so far.

 “Gold broke through a key technical level at $1300,” said one Singapore trader to Reuters this morning.

 The first breach of this “psychologically important” level since end-June, however, gold “is still a good $230 off the technically important 200-day moving average,” says the daily note from Germany’s Commerzbank.

“For a month,” adds technical analysis from Societe Generale analysts, “the price has been evolving within a steep corrective channel.”

 “Gold is now facing short-term resistance at April’s low of $1322.”

 Cutting its forecast gold price average for 2013 by 6% last week, Barclays Capital says nearly 1-in-6 miner operations in South Africa will lose money if its $1200 prediction for July to October proves true.

 South African gold mine workers are demanding “up to 61% pay increases,” saysThe Daily Telegraph, citing Commerzbank analysis.

 Last week the world’s third-largest gold miner, AngloGold Ashanti, said it’s likely to writedown between $2.2 and $2.6 billion on its assets following the spring’s 25% drop in the gold price.

 “The mining companies,” says Commerzbank, “which have their backs against the wall in any case on account of the fallen gold prices, are unable to meet such unrealistic demands.”

 Back in Asia overnight, “We heard some gold refiners in Switzerland will close in August for the summer holidays,” a Hong Kong dealer told Reuters.

 “They have stopped taking orders.”

 Switzerland is the major producer of the 1-kilo gold bullion bars preferred by Asian investors with 0.9999 fineness as opposed to the wholesale standard of 0.995.

Gold premiums in Shanghai however, over and above the international benchmark of London settlement, edged another dollar lower again today, falling to $21 per ounce.

 Interest rates for borrowing gold were meantime unchanged Monday from Friday in London, heart of the world’s wholesale bullion market.

 Rising demand from gold miners wanting to hedge their exposure to further price falls ahead was last week cited for driving up gold borrowing costs so far in July.

 “Demand has slowed down” in India – the world’s No.1 gold consumer market – according to Bombay Bullion Association director Suresh Jain, pointing to the traditional summer shutdown in gold-buying festivals and weddings.

 US gold futures and options meantime saw a marked rise in speculative bullishness last week, new data showed after Friday’s close.

 The so-called speculative “net long” position – meaning the balance of all bullish minus bets held by non-industry players – jumped 37% to a four-week high equal to 135 tonnes of gold bullion.

 The sharpest percentage jump since November 2008, however, the move – which was driven by bearish speculators closing their positions as prices rose – was only a four-month record by weight.

 Compared to the end of 2012, the spec’ net long position stood 78% lower.

 “Despite the pullback in gold equities,” says Morgan Stanley’s note, “we see risk of further de-rating triggered by reserve downgrades and weak cash flows.”

 “We believe,” says J.P.Morgan’s analysis, “that premium ratings are appropriate for [producers] with…high-quality assets and operational capability to cut their cloth according to prevailing market conditions.”

Adrian Ash

BullionVault

Gold price chart, no delay | Buy gold online

 

Adrian Ash is head of research at BullionVault, the secure, low-cost gold and silver market for private investors online, where you can buy gold and silver in Zurich, Switzerland for just 0.5% commission.

 

(c) BullionVault 2013

Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.

 

Will GBPUSD Sustain The Upward Momentum?

By ForexAbode.com

After some struggle against the 55-day EMA, GBP/USD ultimately broke that resistance and closed above it. The high of this upward move was 1.5282.

GBP/USD retracements and 55-day EMA

Isn’t it interesting that this high where some resistance was seen was also the 50% Fibonacci retracement of the downward move from 1.5751 to 1.4813? Not only this level brings in the resistance of the 50% retracement but is also slightly below 1.5304 which had proved to be a strong resistance earlier.

But what if both these resistances are broken?

GBP/USD retracements and 200-day EMA

If both these resistances are broken then the next level will have the combined forces of the resistance of 61.8% retracement and the 200-day moving average. The current 200-day SMA is at 1.5404 i.e. just 22 pips above the 61.8% retracement level.

Longer view of the price action w.r.t. the 200-day moving average 

Lets also have a peek into the important economic releases from the U.K. and The U.S. during the last week.

Recent Economic Releases

U.K.

GBP: Consumer Price Index: Year on year CPI 2.9% was slightly less than the expected 3.0% but was better than the previous 2.7%. The core CPI was same as the consensus of 2.3% and slightly better than the previous 2.2%.

GBP: Producer price Index: Year on year PPI for Input was 2.2% and positive as compared to the consensus (1.9%) as well as the previous 1.2%. PPI Core (output) was 1.0% and though slightly less than the consensus of 1.1% but was better than the previous 0.8%. The year on year PPI for Input was same as the consensus of 4.2% and quite better than the previous 1.8%.

GBP: Claimant Count: The change in June was -21.2K and was better as compared to the consensus (-8.0K) as well as the previous -16.2K. The claimant count rate came down to 4.4% from the previous 4.5%.

GBP: Average Earnings Including Bonus (3 months/year): 1.7%, positive as compared to the consensus (1.4%) as well as the previous 1.3%.

GBP: ILP Unemployment Rate: no change from the previous 7.8%.

GBP: Retail Sales (YoY): 2.2%, positive as compared to the consensus (1.7%) as well as the previous 2.1%. Year on year retail sales ex-fuel was 2.1% and though better than the expected 1.6% but was less than the previous 2.3%.

GBP: Public Sector Net Borrowing: GBP 10.234 billion and though more than the consensus of GBP 9.450 billion but was better than the previous 12.770 billion British pounds.

 

U.S.A.

USD: Retail Sales: Month on month change was 0.4% and negative as compared to the consensus (0.8%) as well as the previous 0.5%. Same was the case with retail sales ex-autos which was 0.0% against the consensus of 0.4% and previous 0.3%.

USD: Consumer Price Index: Year on year CPI 1.8% and positive as compared to the consensus a(1.5%) s well as the previous 1.4%. Year on year CPI ex food and energy was same as the consensus of 1.6% and slightly less than the previous 1.7%.

USD: Net Long-Term TIC flows: USD -27.2 billion, negative as compared to the consensus (US$ 14.3 billion) as well as the previous -21.8 billion US dollars.

USD: Industrial production (MoM): 0.3%, positive as compared to the consensus (0.2%) as well as the previous 0.0%.

USD: Housing: Housing starts were 0.836 million and hence negative as compared to the consensus (0.960 million) as well as the previous 0.928 million. Same with the building permits of 0.911 million against the consensus of 1.000 million and previous 0.985 million.

USD: Initial Jobless Claims: 334K, positive as compared to the consensus (345K) as well as the previous 358K.

USD: CB Leading Indicator: 0.0%, negative as compared to the consensus (0.3%) as well as the previous 0.2%.

USD: Philadelphia Fed Manufacturing Survey: 19.8, quite positive as compared to the consensus (7.8) as well as the previous 12.5.

 

Comparative weight on the basis of last week’s economic releases: 

 

What can we Expect

By touching a.5282 the currency pair has completed the 50% retracement of its fall from 1.5751 to 1.4813. Though the strong jump has strengthened the short-term bullish outlook but please note that the resistance came exactly at 50% retracement level. Not only that but this level is just below 1.5304 which had proved to be a strong resistance on July 3rd 2013. Because of these facts we will remain neutral till any decisive break over 1.5304 does not take place.

 

On the upside if there is a decisive break of 1.5304 then we will expect further gains towards 1.5392/1.5404. As indicated in the above mentioned alert, this zone is expected to be a very strong resistance because of the combined powers of the 61.8% retracement, 200-day moving average and also the approaching psychological zone of 1.5500 level. Even if the pair manages to break this resistance zone a stronger resistance will be expected near 1.5477

 

On the downside support should come neat 1.5171 where the 38.2% retracement of the above mentioned fall should now act as support level. Any decisive break of this support will be the first sign of topping but even in that case we would expect a strong support near/above 1.5027. In case the support near 1.5027 does not hold then the focus will turn back towards downside for a move to retest the 1.4813 or possibly below that.

GBP/USD outlook is also available at ForexAbode.com

Connect with the author at Google: +Himanshu Jain.

 

Five Signs That the U.S. Economy isn’t on the Brink of Collapse

By WallStreetDaily.com

We’re just one misstep away from another recession!

At least, that’s what many in the financial media would like us to believe, with headlines like USA Today’s “U.S. Economy isn’t Yet a Pretty Picture” and The Wall Street Journal’s “Global Tumult Grips Markets.”

Heck, even overeducated analysts are in on the act. In recent research reports, PIMCO’s top brass keeps referring to the current economic environment as a “stable disequilibrium.”

I guess that whole “new normal” and “death of equities” thing wasn’t working out for them (I told you so) with the S&P 500 Index up by double digits and all.

In any event, whatever you do, don’t believe the hype! We’re not even close to another recession.

And seeing that it’s Myth-Busting Monday, here are five irrefutable signs to prove it…

Rates Rising Ahead of the Fed

In anticipation of a formal hike from the Federal reserve, investors shouldn’t be freaking out over rising interest rates on U.S. Treasury bonds. They should be celebrating.

Why?

“When rates rise, it is a reflection that the economy is recovering,” says Morgan Stanley’s (MS) CEO, James Gorman. And he’s absolutely right.

Contrary to conventional wisdom that rising rates will undercut this economic recovery, it’s actually a sign that the economy is getting back to normal and won’t need the Fed to prop it up much longer.

The sooner we can get off the Fed sauce, which we’ve been drunk on for months, the better.

Pennywise, Finally

A recent Bloomberg article suggests that consumer spending makes up 70% of the U.S. economy. Of course, we know the real number is closer to 40%.

Either way, consumer spending is still a big deal.

The good news? Americans learned their lesson from the Great Recession. We’re finally living within our means.

The latest data from RBC Capital Markets reveals that the correlation between wages and purchases during the recovery is the highest it’s ever been since 1965.

“The consumer really has cleaned up their balance sheet… They’re growing consumption based on the rate of growth of their earnings, which at the end of the day builds a more solid foundation,” says Jacob Oubina, Senior Economist at RBC.

Oubina adds, “We’d like to see a little bit more credit usage, because it’s been non-existent.”

Speak for yourself, Mr. Oubina! Too much credit is what got us into this whole mess to begin with. I’ll start worrying when consumers are quick to swipe the plastic. Thankfully, that’s not happening now.

Raising the Roofs

For years the real estate market has been a drag on the U.S. economy. Specifically, residential fixed investment (RFI) detracted from GDP growth. But not anymore!

In the first quarter, RFI increased 14% to account for almost one-fifth of overall economic growth.

As you can see in the chart, this isn’t an anomaly, either. It’s a clear reversal in the trend.

Since 1947, RFI accounted for an average of 4.6% of GDP. But even after the most recent uptick, it’s only running at about 2.6% of GDP. So that means there’s much more building to be done before we even get back to normal.

It’s Sunny in Philly and New York

If the economy is in such trouble, somebody forgot to let manufacturers (and economists) know. I say that because the two latest manufacturing reports came in way ahead of expectations…

In July, the Empire State Manufacturing Survey hit 9.5 and the Philadelphia Fed Manufacturing Index hit 19.8. (Keep in mind, any reading above zero signals expansion.)

No economist expected it to be that sunny.

The median projection of 50 economists for the Empire State reading checked in at just 5, whereas the median projection of 57 economists for the Philadelphia Index was only 10.

Much Less Joblessness

While no one can say that the labor market is healthy, it’s definitely improving. Case in point: New applications for jobless benefits dipped to their lowest level in four months last week.

Scott Brown, Chief Economist at Raymond James, says, “This [level] is consistent with moderate job growth.” Agreed. And it’s way better than the 650,000 jobless claims we witnessed at the peak of the unemployment crisis.

It’s also important to realize that the number of applications for jobless benefits serves as a proxy for layoffs. So the drop indicates that companies aren’t cutting back on workers. In fact, the total number of layoffs over the last six months was the lowest since 2000.

Yes, the unemployment rate is still uncomfortably high. But, again, the labor market is on the mend, which is a sign of economic strength.

Bottom line: The U.S. economy is on solid ground, not quicksand. If you’re still not convinced, consider that the two most reliable recession indicators on Earth aren’t flashing any warning signals, either.

Ahead of the tape,

Louis Basenese

The post Five Signs That the U.S. Economy isn’t on the Brink of Collapse appeared first on  | Wall Street Daily.

Article By WallStreetDaily.com

Original Article: Five Signs That the U.S. Economy isn’t on the Brink of Collapse

Asian Stocks traded mixed on Abe’s victory

By HY Markets Forex Blog

Stocks in Asia were seen traded mixed after the Japanese Prime Minister Shinzo Abe won the upper-house elections on Sunday, as China‘s central bank decide to liberalize interest rates .

Hong Kong’s Hang Seng dropped 0.16% to 21, 3328.35 at the time of writing, while the Chinese Mainland Shanghai Composite declined 0.23% to 1,988.08 at the same time.

The Nikkei 225 rose 0.47% higher at 14,658.04 at the time of writing, while the broader Topix closed at 0.38% high at 1,216.53 at the same time.

Australia’s S&P/ASX 200 gained 0.51% high, closing at 4,997.40, while the South Korean Kospi closed 0.48% higher to 1,880.35.

Over the weekend, the Prime Minster Shinzo Abe won the majority of the seats in the upper-house election, handing over the control over both houses to Abe, which will support his efforts to restore the country’s economy.

Shares in China were seen dropping, following the announcement of the People’s Bank of China (PBoC) , loosening the rules of lending, with a low bench-mark rate.

“This will support the real economy and improve economic restructuring and upgrading,” the PBoC representative said in a statement.

In Japan, Sony Financial was seen 3.18% higher, while Mitsubishi declined 4.10%.

In Hong Kong, the Chinese Resources Power rose 5.46%, while the coal miner China Shenhua Energy lost 3.90%.

In Australia, contracting company Leighton Holdings gave up 4.88%.

 

The post Asian Stocks traded mixed on Abe’s victory appeared first on | HY Markets Official blog.

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Europe Share opens green after earnings

By HY Markets Forex Blog

Shares in Europe opened positive on Monday after the release of the better-than-expected results, with investors focused on reports from the region’s major companies.

The pan-European Euro Stoxx 50 gained 0.11% to 2,719.18, as the German’s DAX rose 0.20% to 8,347.71. The French CAC 40 advanced 0.80% to 3,928.52, as the UK’s FTSE 100 was up 0.05% to 6,633.80.

The Portuguese intended exit from its bailout program was expected by next year; however it could be due to the stalemate over further reforms.

Portugal’s President Anibal Cavaco Silva said that he wanted the center-right coalition government to remain at its current position to keep the bailout on track.

Electronic manufacturers Philips net profit rose from previous record of 102 million euros to 317 million euros, according to the reported second-quarter results.

While the Swiss bank Julius Baer reported the better-than-expected results for the first half of year, recording its net profit up by over 25% at 261 million Swiss francs, exceeding analysts’ forecast of 238 million francs.

In Asia, stocks were traded mixed following the news that Japan’s Prime Minister Shinzo Abe’s Liberal Democratic Party won majority of the 121 seats in the upper-house election over the weekend.

Meanwhile, the People’s Bank of China (PBoC) announced to loosen rules for lending, allowing bank loans to be made at a low rate.

The Chinese Shanghai Composite declined 0.61% to 2,004.76, while In Hong Kong; the Hang Seng advanced 0.07% to 21,376.51 at the time of writing.

The post Europe Share opens green after earnings appeared first on | HY Markets Official blog.

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