Crude gains in Asia ahead of API estimates, upbeat OPEC views

Investing.com - Crude gains in Asia on Tuesday ahead of industry estimates of U.S. crude and refined product stocks and with sentiment on output curbs supporting markets.

On the New York Mercantile Exchange crude futures for August delivery rose 0.60% to settle at $46.62 a barrel, while on London's Intercontinental Exchange, Brent added 0.39% to $48.85 a barrel.

Overnight, crude futures settled higher on Monday, after Opec producer Saudi Arabia pledged to lower crude exports in August while Nigeria agreed to curb production.

At a gathering of ministers from major crude-producing nations in St. Petersburg, Russia on Monday, Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago.

The Saudi energy minster added that the production-cut agreement could be extended beyond March if necessary but any further extension would rely on non-compliant nations adhering to the agreement.

Also adding to positive sentiment on oil, were reports suggesting that Nigeria committed to take part in production if it reaches a production level of 1.8m bpd.

Nigeria output reached 1.7 million bpd in June, according to independent sources cited by OPEC in a monthly report.

Some analysts praised Nigeria decision to agree to cap production but expressed concerns about Opec’s compliance rate – with the deal to curb production – which fell to 78% June, the IEA said in its report earlier this month.

In May, Opec and non-Opec members agreed to extend production cuts of 1.8m bpd for a period of nine months until March but rising production from the U.S., Nigeria and Libya has undermined the cartel’s efforts to curb excess supply.

PBOC Sets yuan parity rate at 6.7485 against dollar

Investing.com - The People's Bank of China set the yuan mid-point at 6.7485 against the dollar on Tuesday, compared with the previous close of 6.7502.

The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate.

Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term.

The Day Ahead: 3 things to watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow

Alphabet to drag the Nasdaq down?

Google parent company Alphabet Inc Class A (NASDAQ:GOOGL) is likely to be ‘one of the stocks to watch’ on Tuesday, after the tech giant posted a 27.7% drop in quarterly profit on Monday after the U.S. closing bell, following the $2.74 billion regulatory fine levied by the European Union.

Alphabet beat expectations on both the top and bottom line, reporting earnings of $5.01 per share on $26.01 billion in revenue, compared to earnings of $4.49 per share on $21.5 billion in revenue a year ago.

A dip in net income for the quarter, however, to $3.52 billion compared to $4.88 billion a year ago offset better-than-expected earnings and revenue, as shares of Alphabet slipped more than 2% in after-hours trade.

Investors are expected to closely monitor the tech giant's share price for any further downside movement.

The pound awaits fresh direction

A speech by Bank of England MPC member Andy Haldane is expected to provide further insight on whether the central bank continues to support the idea of tapering its ultra-accommodative monetary policy measures later this year.

Haldane’s MPC colleague, Ben Broadbent, recently said the central bank should resist increasing interest rates while the direction of the economy remains unclear.

Despite Broadbent’s dovish comments, GBP/USD has edged higher on expectations that the Bank of England would adopt tighter monetary policy measures, following hawkish comments in June from Bank of England governor Mark Carney.

Are US consumers confident about the US economy?

Consumer confidence data for July will provide investors with a fresh opportunity to gauge sentiment concerning US economic activity.

Economists forecast consumer confidence to show a decline for July, falling to 116.5 compared to a reading of 118.9 in June.

The consumer confidence data for July is slated for Tuesday 10am ET, a day before the Federal Reserve’s policy decision.

Ahead of the Fed’s policy decision, the dollar has struggle to hold onto gains falling to 93.82 against it rivals on Tuesday.

Brazil stocks higher at close of trade; Bovespa up 0.64%

Investing.com – Brazil stocks were higher after the close on Monday, as gains in the Basic Materials, Real Estate and Consumption sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.64%.

The best performers of the session on the Bovespa were Metalurgica Gerdau SA (SA:GOAU4), which rose 4.18% or 0.22 points to trade at 5.48 at the close. Meanwhile, Estacio Participacoes SA (SA:ESTC3) added 3.35% or 0.54 points to end at 16.67 and Tim Participacoes SA (SA:TIMP3) was up 3.35% or 0.34 points to 10.49 in late trade.

The worst performers of the session were Banco Santander Brasil SA Unit (SA:SANB11), which fell 2.43% or 0.63 points to trade at 25.25 at the close. Natura Cosmeticos SA (SA:NATU3) declined 2.31% or 0.55 points to end at 23.30 and Braskem SA (SA:BRKM5) was down 1.57% or 0.61 points to 38.24.

Rising stocks outnumbered declining ones on the Sao Paulo Stock Exchange by 218 to 170 and 38 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 1.58% to 25.66.

Gold Futures for August delivery was up 0.05% or 0.58 to $1255.48 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.46% or 0.67 to hit $46.44 a barrel, while the September US coffee C contract fell 2.66% or 3.62 to trade at $132.70 .

USD/BRL was up 0.11% to 3.1463, while EUR/BRL fell 0.08% to 3.6627.

The US Dollar Index Futures was up 0.03% at 93.81.

Mexico stocks higher at close of trade; IPC up 0.19%

Investing.com – Mexico stocks were higher after the close on Monday, as gains in the Healthcare, Telecoms Services and Industrials sectors led shares higher.

At the close in Mexico, the IPC added 0.19%.

The best performers of the session on the IPC were Genomma Lab Internacional SAB De CV (MX:LABB), which rose 3.68% or 0.880 points to trade at 24.800 at the close. Meanwhile, Kimberly - Clark De Mexico A (MX:KIMBERA) added 2.17% or 0.790 points to end at 37.130 and Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) was up 2.08% or 4.29 points to 210.65 in late trade.

The worst performers of the session were Coca Cola Femsa SAB De CV (MX:KOFL), which fell 5.09% or 8.13 points to trade at 151.54 at the close. VOLARIS A (MX:VOLARA) declined 2.49% or 0.65 points to end at 25.46 and Grupo Financiero Santander Mexico SAB De CV (MX:SANMEXB) was down 2.22% or 0.830 points to 36.540.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 142 to 97 and 15 ended unchanged.

Shares in Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) rose to all time highs; gaining 2.08% or 4.29 to 210.65.

Gold Futures for August delivery was up 0.06% or 0.78 to $1255.68 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.40% or 0.64 to hit $46.41 a barrel, while the September Brent oil contract rose 1.25% or 0.60 to trade at $48.66 a barrel.

USD/MXN was up 0.28% to 17.7039, while EUR/MXN rose 0.07% to 20.6109.

The US Dollar Index Futures was up 0.03% at 93.81.

U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.31%

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the Technology, Financials and Healthcare sectors led shares higher while losses in the Telecoms, Utilities and Consumer Goods sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average fell 0.31%, while the S&P 500 index declined 0.11%, and the NASDAQ Composite index added 0.36%.

The best performers of the session on the Dow Jones Industrial Average were Caterpillar Inc (NYSE:CAT), which rose 1.49% or 1.59 points to trade at 108.18 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 1.21% or 1.82 points to end at 152.09 and The Travelers Companies Inc (NYSE:TRV) was up 0.98% or 1.23 points to 126.38 in late trade.

The worst performers of the session were General Electric Company (NYSE:GE), which fell 1.85% or 0.48 points to trade at 25.43 at the close. Johnson&Johnson (NYSE:JNJ) declined 1.70% or 2.30 points to end at 133.01 and Nike Inc (NYSE:NKE) was down 1.67% or 1.00 points to 58.95.

The top performers on the S&P 500 were Xerox Corp (NYSE:XRX) which rose 3.77% to 30.56, Wynn Resorts Limited (NASDAQ:WYNN) which was up 3.27% to settle at 138.53 and NRG Energy Inc (NYSE:NRG) which gained 3.23% to close at 25.28.

The worst performers were Hasbro Inc (NASDAQ:HAS) which was down 9.44% to 105.00 in late trade, Foot Locker Inc (NYSE:FL) which lost 4.56% to settle at 45.05 and Halliburton Company (NYSE:HAL) which was down 4.21% to 42.51 at the close.

The top performers on the NASDAQ Composite were Top Ships Inc (NASDAQ:TOPS) which rose 71.15% to 0.4450, Eltek Ltd (NASDAQ:ELTK) which was up 53.23% to settle at 0.950 and ESSA Pharma Inc (NASDAQ:EPIX) which gained 41.71% to close at 0.440.

The worst performers were Cytori Therapeutics Inc (NASDAQ:CYTX) which was down 56.77% to 0.4799 in late trade, Hibbett Sports Inc (NASDAQ:HIBB) which lost 33.50% to settle at 13.10 and MagneGas Corp (NASDAQ:MNGA) which was down 25.81% to 0.920 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1761 to 1330 and 149 ended unchanged; on the Nasdaq Stock Exchange, 1330 rose and 1141 declined, while 149 ended unchanged.

Shares in Xerox Corp (NYSE:XRX) rose to 52-week highs; rising 3.77% or 1.11 to 30.56. Shares in Foot Locker Inc (NYSE:FL) fell to 3-years lows; falling 4.56% or 2.15 to 45.05. Shares in NRG Energy Inc (NYSE:NRG) rose to 52-week highs; gaining 3.23% or 0.79 to 25.28. Shares in General Electric Company (NYSE:GE) fell to 52-week lows; losing 1.85% or 0.48 to 25.43. Shares in Cytori Therapeutics Inc (NASDAQ:CYTX) fell to 52-week lows; losing 56.77% or 0.6301 to 0.4799. Shares in Hibbett Sports Inc (NASDAQ:HIBB) fell to 5-year lows; down 33.50% or 6.60 to 13.10. Shares in MagneGas Corp (NASDAQ:MNGA) fell to 52-week lows; losing 25.81% or 0.320 to 0.920.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 1.28% to 9.48.

Gold Futures for August delivery was up 0.06% or 0.74 to $1255.64 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.40% or 0.64 to hit $46.41 a barrel, while the September Brent oil contract rose 1.25% or 0.60 to trade at $48.66 a barrel.

EUR/USD was down 0.19% to 1.1642, while USD/JPY fell 0.01% to 111.11.

The US Dollar Index Futures was up 0.04% at 93.82.

Crude futures settle higher as Saudi oil chief pledges export cuts

Investing.com – Crude futures settled higher on Monday, after Opec producer Saudi Arabia pledged to lower crude exports in August while Nigeria agreed to curb production.

On the New York Mercantile Exchange crude futures for August delivery rose 1.3% to settle at $46.34 a barrel, while on London's Intercontinental Exchange, Brent added 1.21% to trade at $48.64 a barrel.

At a gathering of ministers from major crude-producing nations in St. Petersburg, Russia on Monday, Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago.

The Saudi energy minster added that the production-cut agreement could be extended beyond March if necessary but any further extension would rely on non-compliant nations adhering to the agreement.

Also adding to positive sentiment on oil, were reports suggesting that Nigeria committed to take part in production if it reaches a production level of 1.8m bpd.

Nigeria output reached 1.7 million bpd in June, according to independent sources cited by OPEC in a monthly report.

Some analysts praised Nigeria decision to agree to cap production but expressed concerns about Opec’s compliance rate – with the deal to curb production – which fell to 78% June, the IEA said in its report earlier this month.

“The only significant thing about the meeting is that Nigeria has voluntarily agreed that they will not increase their production above 1.8 [million barrels a day] once they have achieved that level,” said Naeem Aslam, chief market analyst at ThinkMarkets U.K.

But when it comes to the “compliance side of things,” that’s getting “really ugly,” he said. “A lot of cheating is already happening and we are only half [way] through this agreement,”

In May, Opec and non-Opec members agreed to extend production cuts of 1.8m bpd for a period of nine months until March but rising production from the U.S., Nigeria and Libya has undermined the cartel’s efforts to curb excess supply.

Dollar steadies above 13-month lows as US data top expectations

Investing.com – The dollar steadied above thirteenth-month lows against a basket of global currencies on Monday, as mostly upbeat U.S. economic data helped offset U.S. political jitters.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.09% to 93.86.

Fresh on the heels of posting a two-week losing streak, the greenback attempted to make a positive start to the week, after manufacturing and services data topped forecasts, easing concerns about a slowdown in the U.S. economy.

On Monday, Markit's manufacturing and services flash surveys both showed the U.S. beating expectations.

The pair of bullish economic reports were partly offset, however, by weaker-than-expected housing data and continued U.S. political uncertainty.

Sales of second-hand homes slid in June to the lowest level since February as tight supply and high prices weighed on housing activity despite strong demand.

Sales of previously-owned homes fell 1.8% in June from the previous month, to an annualized pace of 5.52m units, the National Association of Realtors said on Monday.

President Donald Trump's son-in-law and senior advisor Jared Kusher said neither he nor anyone in the Trump campaign team colluded with Russian officials over the US election.

The pound was the main beneficiaries of dollar weakness, rising 0.26% to $1.3027, despite the International Monetary Fund (IMF) slashing its UK GDP growth forecast from 2% to 1.7% amid concerns about a slowdown in economic activity.

EUR/USD erased some of its recent gains, falling 0.23% to $1.1637, while EUR/GBP dipped 0.47% to 0.8931, as Eurozone manufacturing and services data undershot forecasts.

USD/CAD traded at $1.2520, down 0.15%, following a bounce in the oil-sensitive loonie after oil prices ticked higher in the wake of the Opec meeting on Monday while USD/JPY rose to Y111.20, up 0.05%.

Portugal stocks lower at close of trade; PSI 20 down 0.61%

Investing.com – Portugal stocks were lower after the close on Monday, as losses in the Consumer Services, Basic Materials and Telecoms sectors led shares lower.

At the close in Lisbon, the PSI 20 declined 0.61%.

The best performers of the session on the PSI 20 were Banco Comercial Portugues (LS:BCP), which rose 0.76% or 0.0019 points to trade at 0.2512 at the close. Meanwhile, Novabase SGPS (LS:NBA) added 0.66% or 0.021 points to end at 3.200 and Corticeira Amorim (LS:CORA) was up 0.57% or 0.070 points to 12.435 in late trade.

The worst performers of the session were J. Martins SGPS (LS:JMT), which fell 1.76% or 0.3100 points to trade at 17.2700 at the close. REN (LS:RENE) declined 1.71% or 0.0480 points to end at 2.7550 and Ibersol SGPS (LS:IBS) was down 1.58% or 0.230 points to 14.320.

Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 18 to 16 and 8 ended unchanged.

Brent oil for September delivery was up 0.96% or 0.46 to $48.52 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.11% or 0.51 to hit $46.28 a barrel, while the August Gold Futures contract rose 0.03% or 0.39 to trade at $1255.29 a troy ounce.

EUR/USD was down 0.23% to 1.1637, while EUR/GBP fell 0.45% to 0.8933.

The US Dollar Index Futures was up 0.09% at 93.86.

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 1.31%

Investing.com – Denmark stocks were lower after the close on Monday, as losses in the Healthcare, Software&Computer Services and Technology sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 fell 1.31%.

The best performers of the session on the OMX Copenhagen 20 were FLSmidth&Co. (CO:FLS), which rose 0.21% or 0.8 points to trade at 390.0 at the close. Meanwhile, Nordea Bank AB (CO:NDA) added 0.19% or 0.15 points to end at 80.30 and Jyske Bank A/S (CO:JYSK) was up 0.13% or 0.5 points to 385.0 in late trade.

The worst performers of the session were Novozymes A/S B (CO:NZYMb), which fell 3.21% or 9.4 points to trade at 283.0 at the close. Novo Nordisk A/S B (CO:NOVOb) declined 2.20% or 6.0 points to end at 267.3 and Genmab (CO:GEN) was down 1.88% or 27.0 points to 1411.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 72 to 42 and 15 ended unchanged.

Crude oil for September delivery was up 1.03% or 0.47 to $46.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.89% or 0.43 to hit $48.49 a barrel, while the August Gold Futures contract fell 0.00% or 0.01 to trade at $1254.89 a troy ounce.

USD/DKK was up 0.24% to 6.3910, while EUR/DKK unchanged 0.00% to 7.4357.

The US Dollar Index Futures was up 0.11% at 93.88.

France stocks higher at close of trade; CAC 40 up 0.20%

Investing.com – France stocks were higher after the close on Monday, as gains in the Basic Materials, Financials and Consumer Services sectors led shares higher.

At the close in Paris, the CAC 40 added 0.20%, while the SBF 120 index climbed 0.05%.

The best performers of the session on the CAC 40 were Lafargeholcim Ltd (PA:LHN), which rose 2.04% or 1.04 points to trade at 52.05 at the close. Meanwhile, Publicis Groupe SA (PA:PUBP) added 1.43% or 0.93 points to end at 65.95 and Societe Generale (PA:SOGN) was up 1.19% or 0.56 points to 48.16 in late trade.

The worst performers of the session were Peugeot SA (PA:PEUP), which fell 1.30% or 0.24 points to trade at 18.16 at the close. Carrefour SA (PA:CARR) declined 1.21% or 0.26 points to end at 20.73 and Danone SA (PA:DANO) was down 0.93% or 0.60 points to 64.05.

The top performers on the SBF 120 were GTT (PA:GTT) which rose 7.29% to 39.32, Air France KLM SA (PA:AIRF) which was up 3.49% to settle at 12.015 and Ipsos (PA:ISOS) which gained 3.11% to close at 33.30.

The worst performers were Gemalto (AS:GTO) which was down 19.73% to 44.15 in late trade, Sartorius Stedim Biotech (PA:STDM) which lost 4.27% to settle at 59.16 and Genfit (PA:GNFT) which was down 3.42% to 25.690 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 356 to 231 and 104 ended unchanged.

Shares in Gemalto (AS:GTO) fell to 5-year lows; falling 19.73% or 10.85 to 44.15.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 0.63% to 14.55.

Gold Futures for August delivery was up 0.00% or 0.02 to $1254.92 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.01% or 0.46 to hit $46.23 a barrel, while the September Brent oil contract rose 0.89% or 0.43 to trade at $48.49 a barrel.

EUR/USD was down 0.26% to 1.1634, while EUR/GBP fell 0.47% to 0.8931.

The US Dollar Index Futures was up 0.11% at 93.88.

Italy stocks higher at close of trade; Investing.com Italy 40 up 0.66%

Investing.com – Italy stocks were higher after the close on Monday, as gains in the Telecoms, Chemicals and Healthcare sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 added 0.66%.

The best performers of the session on the Investing.com Italy 40 were Unione di Banche Italiane SpA (MI:UBI), which rose 4.50% or 0.1720 points to trade at 3.9960 at the close. Meanwhile, Telecom Italia (MI:TLIT) added 3.82% or 0.0310 points to end at 0.8435 and Banco Bpm (MI:BAMI) was up 2.88% or 0.088 points to 3.146 in late trade.

The worst performers of the session were Enel (MI:ENEI), which fell 1.02% or 0.050 points to trade at 4.860 at the close. Salvatore Ferragamo (MI:SFER) declined 0.70% or 0.17 points to end at 24.14 and Banca Popolare dell’Emilia Romagna (MI:EMII) was down 0.68% or 0.032 points to 4.688.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 194 to 166 and 17 ended unchanged.

Crude oil for September delivery was up 1.03% or 0.47 to $46.24 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.89% or 0.43 to hit $48.49 a barrel, while the August Gold Futures contract rose 0.00% or 0.03 to trade at $1254.93 a troy ounce.

EUR/USD was down 0.26% to 1.1634, while EUR/GBP fell 0.47% to 0.8931.

The US Dollar Index Futures was up 0.11% at 93.88.

Finland stocks lower at close of trade; OMX Helsinki 25 down 0.90%

Investing.com – Finland stocks were lower after the close on Monday, as losses in the Utilities, Industrials and Oil&Gas sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 lost 0.90% to hit a new 1-month low.

The best performers of the session on the OMX Helsinki 25 were Outokumpu Oyj (HE:OUT1V), which rose 2.32% or 0.1650 points to trade at 7.2800 at the close. Meanwhile, Tieto Oyj (HE:TIE1V) added 1.55% or 0.41 points to end at 26.93 and Valmt (HE:VALMT) was up 0.11% or 0.02 points to 17.83 in late trade.

The worst performers of the session were Metso Oyj (HE:METSO), which fell 3.90% or 1.13 points to trade at 27.82 at the close. Fortum Oyj (HE:FORTUM) declined 1.49% or 0.21 points to end at 13.86 and Nokian Renkaat Oyj (HE:NRE1V) was down 1.47% or 0.53 points to 35.62.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 83 to 47 and 23 ended unchanged.

Brent oil for September delivery was up 0.96% or 0.46 to $48.52 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.09% or 0.50 to hit $46.27 a barrel, while the August Gold Futures contract fell 0.02% or 0.29 to trade at $1254.61 a troy ounce.

EUR/USD was down 0.26% to 1.1634, while EUR/GBP fell 0.48% to 0.8930.

The US Dollar Index Futures was up 0.11% at 93.88.

Belgium stocks lower at close of trade; BEL 20 down 0.28%

Investing.com – Belgium stocks were lower after the close on Monday, as losses in the Consumer Goods, Healthcare and Utilities sectors led shares lower.

At the close in Brussels, the BEL 20 lost 0.28%.

The best performers of the session on the BEL 20 were Aperam SA (AS:APAM), which rose 1.34% or 0.56 points to trade at 42.21 at the close. Meanwhile, Telenet Group (BR:TNET) added 0.76% or 0.43 points to end at 57.08 and Solvay SA (BR:SOLB) was up 0.33% or 0.40 points to 121.95 in late trade.

The worst performers of the session were NV Bekaert SA (BR:BEKB), which fell 2.26% or 1.05 points to trade at 45.29 at the close. Galapagos NV (AS:GLPG) declined 1.07% or 0.750 points to end at 69.470 and Etablissementen Fr Colruyt NV (BR:COLR) was down 0.87% or 0.41 points to 45.89.

Falling stocks outnumbered advancing ones on the Brussels Stock Exchange by 64 to 47 and 13 ended unchanged.

Gold Futures for August delivery was down 0.07% or 0.83 to $1254.07 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.25% or 0.57 to hit $46.34 a barrel, while the September Brent oil contract rose 1.14% or 0.55 to trade at $48.61 a barrel.

EUR/USD was down 0.27% to 1.1633, while EUR/GBP fell 0.43% to 0.8934.

The US Dollar Index Futures was up 0.14% at 93.91.

U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 1.02%

Investing.com – U.K. stocks were lower after the close on Monday, as losses in the Household Goods&Home Construction, Gas, Water&Multiutilities and Mobile Telecommunications sectors led shares lower.

At the close in London, the Investing.com United Kingdom 100 lost 1.02%.

The best performers of the session on the Investing.com United Kingdom 100 were Micro Focus International (LON:MCRO), which rose 1.46% or 32.00 points to trade at 2227.00 at the close. Meanwhile, Anglo American PLC (LON:AAL) added 1.19% or 13.00 points to end at 1104.50 and Burberry Group PLC (LON:BRBY) was up 0.55% or 9.00 points to 1652.00 in late trade.

The worst performers of the session were Reckitt Benckiser Group PLC (LON:RB), which fell 3.27% or 258.00 points to trade at 7623.00 at the close. Next PLC (LON:NXT) declined 3.06% or 117.00 points to end at 3710.00 and Provident Financial (LON:PFG) was down 2.92% or 69.00 points to 2297.00.

Falling stocks outnumbered advancing ones on the London Stock Exchange by 1180 to 759 and 459 ended unchanged.

Gold Futures for August delivery was up 0.03% or 0.37 to $1255.27 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.18% or 0.54 to hit $46.31 a barrel, while the September Brent oil contract rose 1.08% or 0.52 to trade at $48.58 a barrel.

GBP/USD was up 0.18% to 1.3018, while EUR/GBP fell 0.41% to 0.8936.

The US Dollar Index Futures was up 0.13% at 93.90.

Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.92%

Investing.com – Sweden stocks were lower after the close on Monday, as losses in the Consumer Services, Healthcare and Telecoms sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 declined 0.92% to hit a new 3-months low.

The best performers of the session on the OMX Stockholm 30 were Fingerprint Cards AB ser. B (ST:FINGb), which rose 3.50% or 1.21 points to trade at 35.80 at the close. Meanwhile, Svenska Cellulosa SCA AB B (ST:SCAb) added 1.79% or 1.1 points to end at 65.3 and Boliden AB (ST:BOL) was up 0.73% or 1.80 points to 249.80 in late trade.

The worst performers of the session were H&M Hennes&Mauritz AB B (ST:HMb), which fell 2.56% or 5.6 points to trade at 213.3 at the close. Alfa Laval AB (ST:ALFA) declined 1.81% or 3.4 points to end at 184.1 and ABB Ltd (ST:ABB) was down 1.73% or 3.4 points to 192.7.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 463 to 244 and 78 ended unchanged.

Crude oil for September delivery was up 1.16% or 0.53 to $46.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.04% or 0.50 to hit $48.56 a barrel, while the August Gold Futures contract rose 0.06% or 0.76 to trade at $1255.66 a troy ounce.

EUR/SEK was down 0.40% to 9.5744, while USD/SEK fell 0.18% to 8.2270.

The US Dollar Index Futures was up 0.09% at 93.86.

Turkey stocks lower at close of trade; BIST 100 down 0.12%

Investing.com – Turkey stocks were lower after the close on Monday, as losses in the Food&Beverages, Metal Products&Machinery and Basic Metals sectors led shares lower.

At the close in Istanbul, the BIST 100 declined 0.12%.

The best performers of the session on the BIST 100 were Bizim Toptan Satis Magazalari AS (IS:BIZIM), which rose 5.54% or 0.69 points to trade at 13.15 at the close. Meanwhile, Koza Altin Isletmeleri AS (IS:KOZAL) added 4.78% or 1.44 points to end at 31.54 and Ihlas Holding AS (IS:IHLAS) was up 4.76% or 0.020 points to 0.440 in late trade.

The worst performers of the session were Anadolu Cam Sanayi AS (IS:ANACM), which fell 40.53% or 1.540 points to trade at 2.260 at the close. Turkiye Sise ve Cam Fabrikalari AS (IS:SISE) declined 8.06% or 0.390 points to end at 4.450 and Ayen Enerji AS (IS:AYEN) was down 3.25% or 0.160 points to 4.760.

Rising stocks outnumbered declining ones on the Istanbul Stock Exchange by 226 to 131 and 51 ended unchanged.

Shares in Koza Altin Isletmeleri AS (IS:KOZAL) rose to 52-week highs; gaining 4.78% or 1.44 to 31.54.

Gold Futures for August delivery was up 0.07% or 0.83 to $1255.73 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.16% or 0.53 to hit $46.30 a barrel, while the September Brent oil contract rose 1.08% or 0.52 to trade at $48.58 a barrel.

USD/TRY was up 0.58% to 3.5564, while EUR/TRY rose 0.37% to 4.1397.

The US Dollar Index Futures was up 0.09% at 93.86.

Greece stocks higher at close of trade; Athens General Composite up 0.18%

Investing.com – Greece stocks were higher after the close on Monday, as gains in the Industrials, Oil&Gas and Construction sectors led shares higher.

At the close in Athens, the Athens General Composite added 0.18%.

The best performers of the session on the Athens General Composite were Iaso (AT:IASr), which rose 8.47% or 0.100 points to trade at 1.280 at the close. Meanwhile, Techn Olympic (AT:OLYr) added 4.12% or 0.070 points to end at 1.770 and Viohalco SA (AT:VIOH) was up 3.83% or 0.110 points to 2.980 in late trade.

The worst performers of the session were Select Textile (AT:EPIr), which fell 11.26% or 0.033 points to trade at 0.260 at the close. Intracom Hold (AT:INRr) declined 4.14% or 0.029 points to end at 0.671 and ThesKi Port (AT:OLTr) was down 4.00% or 0.95 points to 22.80.

Rising stocks outnumbered declining ones on the Athens Stock Exchange by 52 to 45 and 15 ended unchanged.

Shares in Iaso (AT:IASr) rose to 3-years highs; rising 8.47% or 0.100 to 1.280. Shares in Techn Olympic (AT:OLYr) rose to 3-years highs; rising 4.12% or 0.070 to 1.770.

Gold Futures for August delivery was up 0.09% or 1.11 to $1256.01 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.31% or 0.60 to hit $46.37 a barrel, while the September Brent oil contract rose 1.19% or 0.57 to trade at $48.63 a barrel.

EUR/USD was down 0.21% to 1.1640, while EUR/GBP fell 0.47% to 0.8931.

The US Dollar Index Futures was up 0.06% at 93.84.

Israel stocks lower at close of trade; TA 35 down 0.06%

Investing.com – Israel stocks were lower after the close on Monday, as losses in the Oil&Gas, Insurance and Financials sectors led shares lower.

At the close in Tel Aviv, the TA 35 fell 0.06%.

The best performers of the session on the TA 35 were Frutarom Industries Ltd (TA:FRUT), which rose 3.18% or 790 points to trade at 25620 at the close. Meanwhile, Teva Pharmaceutical Industries Ltd (TA:TEVA) added 0.87% or 100 points to end at 11630 and Amot Investments Ltd (TA:AMOT) was up 0.80% or 15 points to 1889 in late trade.

The worst performers of the session were Airport City Ltd (TA:ARPT), which fell 1.66% or 78 points to trade at 4616 at the close. Cellcom Israel Ltd (TA:CEL) declined 1.33% or 45 points to end at 3338 and Nice Ltd (TA:NICE) was down 1.31% or 360 points to 27130.

Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 265 to 139 and 15 ended unchanged.

Shares in Frutarom Industries Ltd (TA:FRUT) rose to all time highs; gaining 3.18% or 790 to 25620.

Crude oil for September delivery was up 1.11% or 0.51 to $46.28 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.98% or 0.47 to hit $48.53 a barrel, while the August Gold Futures contract rose 0.02% or 0.26 to trade at $1255.16 a troy ounce.

USD/ILS was up 0.01% to 3.5699, while EUR/ILS fell 0.13% to 4.1573.

The US Dollar Index Futures was up 0.02% at 93.80.

Dollar remains in doldrums after U.S. data

Investing.com - The dollar continued to tread water at lower levels after a mixed bag of U.S. economic data.
The dollar index was up 0.06% at 93.84, little changed from just prior to the release of the data.
The index received some support from a weaker euro, although the single currency held above $1.16.
Existing home sales fell 1.8% last month from May to 5.52 million units, the National Association of Realtors said.
Analysts had expected a 1.0% fall to 5.58 million from May's reading of a rise of 1.1% to 5.62 million units.
House prices have hit record highs of late.
Markit's purchasing managers' services and manufacturing indexes beat estimates.
The dollar remains under pressure from political considerations and lower market odds of a further U.S. rate hike this year.
The Trump administration remains under the cloud of a probe into alleged Russian meddling in the U.S. 2016 presidential election.

Halliburton Q2 earnings boosted by higher U.S. drilling activity

Investing.com - U.S. oil services firm (NYSE:Halliburton)'s second quarter earnings were boosted by a pick-up in U.S. drilling activity.
Halliburton reported basic, diluted earnings per share from continuing operations in the June quarter of $0.03, compared with a loss of $3.73 per share in the same period a year earlier.
It reported a loss per share of $0.04 in the first quarter of this year.
Adjusted income per share from continuing operations on a diluted basis came at $0.23, compared with an estimate of $0.18 and $0.04 a year earlier.
Revenues in the period climbed to $4.96 billion from $3.84 billion a year earlier. Revenues were forecast at $4.86 billion.
“Our performance this quarter demonstrates that Halliburton is the execution company,"" Executive Chairman Dave Lesar said.
North America revenue growth came in at 24% as the U.S. land rig count grew 21%.
Halliburton said it posted double-digit margin growth in the quarter.
Halliburton shares were off 2.01% at $43.49 at 09:45 ET after an early high of $45.30.

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.15%

Investing.com – Saudi Arabia stocks were lower after the close on Monday, as losses in the Telecoms&IT, Agriculture&Food and Petrochemicals sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share lost 0.15%.

The best performers of the session on the Tadawul All Share were Tihama Advertising&Public Relations (SE:4070), which rose 5.87% or 2.15 points to trade at 38.80 at the close. Meanwhile, United Electronics Company (SE:4003) added 5.04% or 2.05 points to end at 42.75 and Allied Cooperative Insurance Group (SE:8150) was up 3.42% or 0.50 points to 15.10 in late trade.

The worst performers of the session were Etihad Etisalat Co (SE:7020), which fell 7.23% or 1.46 points to trade at 18.74 at the close. Malath Cooperative Insurance Co (SE:8020) declined 3.08% or 0.80 points to end at 25.20 and Red Sea Housing Services Company (SE:4230) was down 2.54% or 0.50 points to 19.20.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 78 to 78 and 25 ended unchanged.

Shares in United Electronics Company (SE:4003) rose to 52-week highs; gaining 5.04% or 2.05 to 42.75.

Crude oil for September delivery was up 0.85% or 0.39 to $46.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.92% or 0.44 to hit $48.50 a barrel, while the August Gold Futures contract rose 0.20% or 2.49 to trade at $1257.39 a troy ounce.

EUR/SAR was down 0.11% to 4.3688, while USD/SAR rose 0.02% to 3.7506.

The US Dollar Index Futures was down 0.01% at 93.77.

Gold starts busy week on upbeat note

Investing.com - Gold prices rose to their highest level in around a month in North American trade on Monday, ahead of a busy week of economic events, including a Federal Reserve policy decision and U.S. second quarter growth data.

In recent trading, Comex gold was at $1,258.03 a troy ounce by 8:40AM ET (1240GMT), up $3.20, or around 0.3%. It touched its highest since June 26 at $1,258.60 earlier in the session.

Futures notched their sixth gain in a row on Friday, matching the streak of wins logged through May 17.

Prices of the yellow metal logged a gain of more than 2% last week, as ongoing political turmoil in the White House and weakness in the U.S. dollar spurred haven demand for the precious metal.

In the coming week, global financial markets will focus on the outcome of Wednesday's Federal Reserve policy meeting for any new insight on the timing of the next U.S. rate hike and clues on how the central bank plans to pare back its massive balance sheet.

There are also several key U.S. economic reports, with the biggest being second quarter GDP due on Friday.

Besides the GDP report, this week's calendar also features U.S. data on both existing and new home sales, as well as consumer confidence, durable goods orders and weekly jobless claims.

According to Investing.com’s Fed Rate Monitor Tool, conviction for another rate hike before the end of the year has faded, with just 35% of market players expecting another move by December, as the subdued inflation outlook raised doubts over whether policymakers will be able to stick to their planned tightening path.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

Focus will also be on headlines coming out of Washington, where the Senate is expected to continue working to repeal Obamacare. The investigation into U.S. President Donald Trump campaign's ties to Russia will continue to get attention.

Elsewhere on the Comex, silver futures climbed 10.3 cents, or roughly 0.6%, to a more than three-week high of $16.56 a troy ounce.

U.S. stock index futures lower ahead of earnings, data

Investing.com - U.S. stock index futures were lower Monday ahead of more earnings reports and economic data.
The Dow futures was off 0.08% at 6:45 ET. TheDJI closed off 0.15% Friday.
The S&P 500 futures fell 0.14%. The tech-heavy Nasdaq 100 futures shed 0.10%.
The Trump administration remains under the shadow of a probe into alleged Russian interference in the 2016 presidential race.
Trump's son-in-law Jared Kushner begins two days of closed-door testimony to Congress later in the session.
The imbroglio has thrown into question Trump's ability to deliver on his economic stimulus plans.
Existing home sales and PMI figures are due out later in the session.
The dollar index remained under pressure, with the FOMC Wednesday expected to stand pat on policy.
Oil was firm ahead of the outcome of an OPEC-led producers' meeting in Russia.
(NASDAQ:Alphabet) is due to report earnings after the market close.

United Arab Emirates stocks higher at close of trade; DFM General up 0.08%

Investing.com – United Arab Emirates stocks were higher after the close on Monday, as gains in the Consumer Staples, Telecoms and Real Estate&Construction sectors led shares higher.

At the close in Dubai, the DFM General added 0.08%, while the ADX General index added 0.12%.

The best performers of the session on the DFM General were Commercial Bank of Dubai P.S.C. (DU:CBD), which rose 3.22% or 0.140 points to trade at 4.490 at the close. Meanwhile, Drake&Scull International PJSC (DU:DSI) added 1.98% or 0.008 points to end at 0.413 and DXB Entertainments (P.J.S.C.) (DU:DXBE) was up 1.32% or 0.010 points to 0.766 in late trade.

The worst performers of the session were AJMAN BANK PJSC (DU:AJBNK), which fell 3.20% or 0.040 points to trade at 1.210 at the close. Dubai Financial Market PJSC (DU:DFM) declined 2.48% or 0.030 points to end at 1.180 and SHUAA Capital PSC (DU:SHUA) was down 2.16% or 0.030 points to 1.360.

The top performers on the ADX General were Rak Cmt&Cons (AD:RAKC) which rose 12.77% to 1.060, Al Khazna Ins (AD:AKIC) which was up 2.70% to settle at 0.380 and Agthia Group (AD:AGTH) which gained 1.74% to close at 5.27.

The worst performers were Sharjah Cement AD (AD:SCID) which was down 9.17% to 0.990 in late trade, Sharjah Islami (AD:SIB) which lost 4.23% to settle at 1.360 and Ad Aviation (AD:ADAV) which was down 3.70% to 2.600 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 17 to 17 and 2 ended unchanged; on the Abu Dhabi, 10 fell and 9 advanced, while 9 ended unchanged.

Crude oil for September delivery was up 0.85% or 0.39 to $46.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.96% or 0.46 to hit $48.52 a barrel, while the August Gold Futures contract rose 0.15% or 1.83 to trade at $1256.73 a troy ounce.

USD/AED was up 0.01% to 3.6732, while EUR/AED fell 0.13% to 4.2784.

The US Dollar Index Futures was unchanged 0.00% at 93.78.

U.S. stock futures point to softer open, politics in focus

Investing.com - U.S. stock futures pointed to a lower open on Wall Street on Monday after the International Monetary Fund cut its growth forecast for the U.S. and investors remained perturbed by political upheaval in Washington.

The blue-chip Dow futures was down 2 points, or 0.1% by 07.10 a.m. ET (11.10 a.m. GMT), the S&P 500 futures slipped 3.5 points or 0.14%, while the tech-heavy Nasdaq 100 futures fell 6 points, or 0.1%.

The dip came after stocks finished lower on Friday. For the week, the Dow lost 0.3%, but the S&P 500 and the Nasdaq Composite Index posted gains of 0.5% and 1.2%, respectively.

Risk appetite was hit after the IMF cut its growth forecast for the U.S. this year from 2.3% to 2.1%, while 2018’s forecast was slashed from 2.5% to 2.1% amid the view that U.S. President Donald Trump will struggle to deliver the infrastructure plan he promised.

Political developments remained in the spotlight following reports that President Trump was set make a statement on health care at 3:15 p.m. ET.

An attempt by Republican lawmakers to replace Obamacare collapsed last week, delivering a major policy blow to the Trump administration.

The failure to pass healthcare reform has dampened hopes for the passage of Trump’s other legislative efforts, such as overhauling the tax code and implementing fiscal stimulus.

In currency markets, the dollar was nursing losses near 13-month lows.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 93.78 after touching 93.65 overnight, its lowest since June 22, 2016.

Hopes for tax reforms and fiscal stimulus under the Trump administration helped drive the dollar to a 14-year high after the November election. The dollar has now given up all of its post-election gains.

Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness.

The Fed is to hold its next meeting on Wednesday and is widely expected to hold policy steady. Officials may also give some insight into its plans to start normalizing its balance sheet.

Oil prices rally to session highs after Saudis pledge to cut exports

Investing.com - Oil prices rallied to the highest levels of the session in North American trade on Monday, after Saudi Arabia pledged to make deep cuts to its crude exports in August in an effort to ease a global supply glut.

Saudi Arabia, OPEC’s largest producer, will limit exports to 6.6 million barrels a day in August, energy minister Khalid Al-Falih said after a meeting with fellow producers who gathered to discuss compliance with the cartel's deal to cut production.

The oil ministers gathering in St. Petersburg, Russia, made no major changes to their wider supply agreement, stopping short of capping output of Libya and Nigeria.

However, multiple reports said Nigeria committed to voluntarily taking part in cuts if it reaches a production level of 1.8 million barrels a day. Libya, which has increased output above 1 million barrels a day, is not planning to limit production until reaching its target of pumping 1.25 million a day.

The two countries had been exempted from the pact among major oil producers to allow their production to recover from years of unrest.

In May, OPEC and some non-OPEC producers, such as Russia, extended an agreement to slash 1.8 million barrels per day in supply until March 2018.

Energy ministers at the meeting said the output-cap agreement could be extended beyond next year’s first quarter if needed, according to multiple reports.

The U.S. West Texas Intermediate crude September contract was at $46.22 a barrel by 7:05AM ET (1105GMT), up 45 cents, or around 1%. It touched its lowest since July 13 at $45.41 earlier in the session.

Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London rose 53 cents, or about 1.1%, to $48.59 a barrel, after touching a more than one-week low of $47.70 in overnight trade.

WTI posted a nearly 1.7% decline last week, while Brent lost about 1.8%, as sentiment soured amid indications that supply from OPEC was set to rise, despite the cartel's agreement to curb production.

Meanwhile, in the U.S., weekly figures from energy services company Baker Hughes showed that the number of active rigs drilling for oil declined by 1 to 764 last week, suggesting early signs of moderating domestic production growth.

The count is often seen as proxy for the outlook on domestic production.

In the week ahead, market participants will eye fresh weekly information on U.S. stockpiles of crude and refined products on Tuesday and Wednesday to gauge the strength of demand in the world’s largest oil consumer.

Sri Lanka stocks lower at close of trade; CSE All-Share down 0.08%

Investing.com – Sri Lanka stocks were lower after the close on Monday, as losses in the Footwear&Textile, Trading and Services sectors led shares lower.

At the close in Colombo, the CSE All-Share fell 0.08% to hit a new 1-month low.

The best performers of the session on the CSE All-Share were Samson International PLC (CM:SIL), which rose 23.05% or 21.90 points to trade at 116.90 at the close. Meanwhile, Capital Alliance Finance PLC (CM:CAFL) added 16.00% or 2.00 points to end at 14.50 and Tea Smallholder Factories PLC (CM:TSML) was up 11.11% or 4.00 points to 40.00 in late trade.

The worst performers of the session were Indo Malay PLC (CM:INDO), which fell 24.80% or 354.50 points to trade at 1075.10 at the close. Paragon Ceylon PLC (CM:PARA) declined 22.91% or 17.30 points to end at 58.20 and Serendib Land PLC (CM:SLND) was down 19.01% or 281.70 points to 1200.00.

Falling stocks outnumbered advancing ones on the Colombo Stock Exchange by 112 to 67 and 62 ended unchanged.

Shares in Indo Malay PLC (CM:INDO) fell to 3-years lows; down 24.80% or 354.50 to 1075.10. Shares in Serendib Land PLC (CM:SLND) fell to 52-week lows; falling 19.01% or 281.70 to 1200.00.

Crude oil for September delivery was up 1.16% or 0.53 to $46.30 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.37% or 0.66 to hit $48.72 a barrel, while the August Gold Futures contract rose 0.13% or 1.57 to trade at $1256.47 a troy ounce.

GBP/LKR was up 0.48% to 200.190, while USD/LKR fell 0.03% to 153.610.

The US Dollar Index Futures was down 0.03% at 93.75.

Top 5 things to watch today

Investing.com - All eyes on OPEC committee meeting.
Google (NASDAQ:GOOGL) parent (NASDAQ:Alphabet) among companies reporting earnings.
President Trump to make statement on healthcare.
German automakers sink on collusion accusations.
Euro-zone private sector output loses momentum.

IMF affirms global growth outlook, cuts U.S. forecasts

Investing.com - The IMF Monday affirmed its outlook for global economic growth this year and the next but cut its forecasts for the U.S.
In an update of its World Economic Outlook, the IMF forecast global growth for 2017 and 2018 at 3.5% and 3.6% respectively.
Those were the same forecasts the IMF gave in April.
The multilateral agency lowered its forecasts for U.S. growth to 2.1% for this year and the next from 2.3% and 2.5% in 2018.
It dropped its assumption of the introduction of economic stimulus measures by the Trump administration.
"While risks around the global growth forecast appear broadly balanced in the near term, they remain skewed to the downside over the medium term," the IMF said.
Euro-zone GDP growth forecast for this year was raised to 1.9% from 1.7% and to 1.7% in 2018 from 1.6%.
The IMF slightly raised its forecast for Chinese growth to 6.7% this year and 6.4% in 2018.
It slightly raised its outlook for Japan growth this year to 1.3% with output expected to slow to 0.6% in 2018.
The U.K. economy is now seen growing 1.7%, down from a forecast of 2.0% in April
The IMF maintained its forecast for U.K. 2018 growth of 1.5%.

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