2 hours ago
European stocks start higher
European stock markets opened higher on Wednesday, with the Stoxx 600 index up 0.6% as of 8:20 a.m. London time, with all sectors rising.
Germany's DAX and Britain's FTSE 100 both rose about 0.6%, while France's CAC40 rose 0.5%.
See chart…
STOXX 600 index.
4 hours ago
Fitch downgrades China's outlook to 'negative', maintains A+ rating
Ratings agency Fitch revised its outlook for China from “stable” to “negative,” citing “increasing risks to China's fiscal outlook.”
The agency said in a report that the country faces an increasingly uncertain economic outlook and a shift away from real estate-dependent growth.
Moreover, fiscal buffers have been eroded by widening fiscal deficits and rising government debt in recent years, and debt is likely to continue to rise as fiscal policy plays an increasingly important role in supporting growth in the coming years. he pointed out.
However, Fitch affirmed its 'A+' rating for China, citing supporting factors such as China's large and diverse economy, robust GDP growth prospects relative to its peers, and integral role in global merchandise trade.
— Lim Huijie
8 hours ago
NetEase and Microsoft bring gaming back to China
Chinese internet technology giant NetEase has partnered with Microsoft to bring back Blizzard Entertainment's games to the world's second-largest economy.
The move comes after Blizzard ended the partnership between the two companies in 2023, citing disagreements over intellectual property management.
The press release states that the new publishing agreement includes games that Chinese players had access to under the previous agreement, such as World of Warcraft and Overwatch.
Separately, Microsoft and NetEase also signed an agreement to explore bringing new NetEase titles to Xbox consoles and other platforms.
9 hours ago
Japan's corporate inflation rate rose to 0.8% in March as expected
Japan's corporate goods price index rose 0.8% year-on-year in March, accelerating from February's revised 0.7% rise and in line with economists' forecasts compiled by Reuters.
Corporate inflation also rose for the third consecutive month.
Month-on-month, the CGPI rose 0.2%, slightly below the 0.3% rise expected by Reuters.
CGPI measures the price changes of products traded within the corporate sector.
— Lim Huijie
11 hours ago
PriceSmart, WD-40 are among the moving stocks in after-hours trading.
Check out some of the stocks that made headlines in after-hours trading on Tuesday.
- PriceSmart shares rose 3.2%, beating second-quarter estimates. The company, which operates U.S.-style members-only shopping warehouse clubs in Latin America and the Caribbean, reported adjusted earnings per share of $1.31 on revenue of $1.29 billion. Analysts surveyed by FactSet had expected sales of $1.29 billion and earnings excluding items of $1.24 for the quarter.
- Smart Global Holdings shares fell 7% after disappointing second-quarter revenue estimates, with sales at $284.8 million, compared to analyst estimates compiled by FactSet of $285.1 million. A profit of $1 million was recorded. The memory and storage solutions provider reported non-item earnings of 27 cents per share, while analysts surveyed by FactSet expected earnings of 25 cents per share.
- WD-40 shares fell 0.5% after falling short of analysts' second-quarter sales estimates. The company beat earnings, but had quarterly revenue of $139.1 million, compared to the $140.5 million expected by analysts surveyed by FactSet.
— Peer Singh
11 hours ago
Stock futures open higher on Tuesday
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024 in New York City.
Michael M. Santiago | Getty Images