Author: Kerry Lydon

Equities End Down on Broadcom Guidance Cut

Equities End Down on Broadcom Guidance Cut

Stocks ended down Friday, weighed down by chipmaker Broadcom’s (AVGO) $2 billion sales-guidance cut on weakening demand and the impending US government ban on American companies doing business with China’s Huawei Technologies. “We currently see a broad-based slowdown in the demand environment, which we believe is driven by continued geopolitical uncertainties, as well as the effects of export restrictions on […]

Encore Wire Backs US Government Anti-Dumping Probe of China’s Aluminium Wire, Cable – WIRE Weaker

Encore Wire Backs US Government Anti-Dumping Probe of China’s Aluminium Wire, Cable – WIRE Weaker

Encore Wire (WIRE) said on Friday it supports the US government’s anti-dumping and countervailing duty (CVD) investigations of aluminum wire and cable from China, accusing Chinese aluminum building wire producers of illegally dumping their product in the country in its preliminary ruling. “These illegal trade practices have undermined our investments in aluminum wire production, which is an important complement to […]

European Equity Benchmarks Close Lower on Trump’s Threat to Impose Tariffs on Mexico

European Equity Benchmarks Close Lower on Trump’s Threat to Impose Tariffs on Mexico

The broad-based major European indices closed lower in Friday trading, as investors were rattled by US President Donald Trump’s threat to impose new tariffs on Mexico, which he said wouldn’t be lifted until Mexico stops illegal immigration into the US. In economic news, Germany’s Federal Statistical Office (Destatis) reported that the price-adjusted turnover of the retail enterprises in the country […]