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Asian shares pulled higher by China, eyes on Fed, U.S. GDP


4 Min Read
SYDNEY (Reuters) - Asian stocks rose on Monday with Chinese shares near three-week highs as signs the world economic recovery was well on track bolstered risk appetite, while the U.S. dollar slipped to a two-month low.
FILE PHOTO: A passersby wearing a protective face mask is reflected on screen displaying the Japanese yen exchange rate against the U.S. dollar and stock prices at a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan November 6, 2020. REUTERS/Issei Kato
MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.3% to surpass critical chart resistance of 700 points and reach its highest since March 18. ....

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UPDATE 2-Third COVID wave, supply bottlenecks hold back German recovery - Ifo


Much smaller increase than expected
Coronavirus curbs impair service sector
Supply bottlenecks hit manufacturers (Adds analysts, background on Volkswagen)
BERLIN, April 26 (Reuters) - German business morale improved only slightly in April as a third wave of COVID-19 infections and a semiconductor shortage in the motor vehicle sector slowed a recovery in Europe’s largest economy, a survey showed on Monday.
The Ifo institute said its business climate index edged up to 96.8 from 96.6 in March. A Reuters poll of analysts had pointed to a bigger increase to 97.8.
“Both the third wave of infections and bottlenecks in intermediate products are impeding Germany’s economic recovery,” Ifo President Clemens Fuest said in a statement. ....

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Asian shares at six-week highs, eyes on Fed, U.S. GDP


4 Min Read
SYDNEY (Reuters) - Asian stocks climbed to six-week highs on Monday amid signs the world economic recovery was still well on track, though rising COVID-19 cases in the region weighed on sentiment, pushing oil prices lower.
FILE PHOTO: A man is reflected on a stock quotation board in Tokyo, Japan February 26, 2021. REUTERS/Kim Kyung-Hoon
Futures for Eurostoxx 50 were flat as were those for Germany’s DAX while London’s FTSE futures were a shade weaker. E-mini futures for the S&P 500 were barely changed.
The mood was relatively upbeat in Asia where MSCI’s broadest index of Asia-Pacific shares outside Japan reached its highest since March 18, despite a late sell-off in Chinese shares. ....

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UPDATE 2-Pound rebounds on economic data, set for second week of gains vs. dollar


Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9Hv (Rewrites throughout, updates prices, adds further graphics)
LONDON, April 23 (Reuters) - Sterling rebounded on Friday from a sharp fall on Thursday, on track for a second week of gains against the dollar after strong retail sales data and business surveys showed Britain’s economy might already be recovering from its worst annual contraction in 300 years.
British retail sales rocketed last month as consumers prepared for a partial lifting of coronavirus lockdown restrictions, according to official data that also showed record peacetime government borrowing.
Sales volumes leapt by 5.4% in March from February, the Office for National Statistics said. Economists polled by Reuters had expected an increase of 1.5%. ....

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Sri Lankan shares close lower as industrials slump


By Reuters Staff
2 Min Read
April 23 (Reuters) - Sri Lankan shares ended lower on Friday, as industrial stocks slumped and financials slipped.
The CSE All-Share Index fell about 1.3% to close at 7,232.65 points. The index is up about 6.8% for the year.
Tiles and sanitary ware maker Royal Ceramics Lanka Plc and conglomerate Lanka ORIX Leasing Company Plc were the top drags to the index, plunging 90.8% and 2.4%, respectively.
According to media reports, Chinese Defence Minister Wei Fenghe is set to go to Sri Lanka on April 27 on a three-day visit (bit.ly/3dHL3zB)
Trading volumes fell to 103.9 million from 139.3 million in the previous session. ....

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