Market Update

Mercedes-Benz (MBGn.DE) raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15% this year, compared with a previous …

Gold rose on Wednesday as the dollar and US Treasury yields fell amid expectations that the Federal Reserve may slow the pace of interest rate hikes. And gold rose in spot transactions 0.7 percent, recording 1663.26 dollars an ounce by 0644 GMT. US gold futures rose 0.6 percent to $1,667.10 …

British Prime Minister Rishi Sunak held his first cabinet meeting on Wednesday, a day after taking office with a promise to fix the previous government’s mistakes and stabilize the economy. High on Sunak’s agenda is preparing the financial market’s eagerly awaited financial statement, due out on October 31, but the …

Wednesday reported an unexpected rise in third-quarter earnings on the back of strong trading revenues, despite a continued drag from a costly U.S. trading error. The British lender posted a net profit attributable to shareholders of £1.512 billion ($1.73 billion), above consensus analyst expectations of £1.152 billion and marking an …

Japanese shares closed higher for a third day in a row on Wednesday. Still, gains were limited amid a decline in US futures contracts and with local investors wary of unexpectedly weak business results from technology giants such as Alphabet and Microsoft. The Nikkei rose 0.67 percent and hit more …

European shares fell on Wednesday from their highest levels in a month, and technology stocks led the losses after disappointing results from major companies on Wall Street raised fears of slowing economic growth. The pan-European Stoxx 600 index was down 0.2 percent by 0719 GMT. In the previous session, the …

Turkey’s Competition Board, the competition protection and antitrust body, said on Wednesday (October 26) it had fined Facebook’s owner Meta platforms 346.72 million lira ($18.63 million) for violating competition law. The council added in a statement that it decided that the company obstructed its competitors operating in the field of …

Oil prices fell on Wednesday after industry data showed that crude stocks in the United States rose more than expected, but supply concerns limited losses. Brent crude futures for December were down 72 cents, or 0.8 percent, at $92.80 a barrel by 0330 GMT, after closing up 26 cents in …

The US dollar gave up during the US session, finishing the day with losses against its major rival currencies. The EUR/USD pair trades near parity early Wednesday and ahead of important monetary policy announcements scheduled for next Thursday.Commodity-linked currencies benefited from higher US equities. AUD/USD flirts with 0.6500 while the …

On Tuesday, US stocks closed another US session higher as investors monitored the performance of the US dollar and the declining Treasury yields in addition to fresh US macroeconomic data for extracting clues concerning the status of the United States economy.The Dow Jones Industrial Average closed 337.12 points higher, or …