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Soccer legend Pele back in Brazil, healthy but undergoing tests

FILE PHOTO: Brazilian soccer legend Pele is seen in Paris
FILE PHOTO: Brazilian soccer legend Pele is seen in Paris, April 2, 2019. Picture taken April 2, 2019. REUTERS/Christian Hartmann/File Photo

April 9, 2019

SAO PAULO (Reuters) – Brazilian soccer legend Pele arrived home in Brazil after a spell in a French hospital on Tuesday and was immediately taken to a Sao Paulo clinic for further urinary tests, doctors said.

“At the moment, he is undergoing admission exams and his health is good,” doctors at the Israelite Albert Einstein Hospital said in a brief statement.

Considered by many as the game’s finest player and the only man to have won three World Cups, Pele was hospitalized in France last Wednesday after suffering a fever following an event in the city with French World Cup-winner Kylian Mbappe.

The 78-year old former Santos player was diagnosed as suffering from a urinary infection and was treated with antibiotics and released on Monday.

He arrived back in his home state on Tuesday morning.

Doctors said the urinary infection had been cured but did not give more details about what were believed to be routine tests at the hospital where he has been treated on several occasions previously.

(Reporting by Andrew Downie; Editing by Hugh Lawson)

Source: OANN

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Ethiopian Airlines black boxes show similarities to Lion Air crash: ministry

A woman mourns next to coffins during the burial ceremony of the Ethiopian Airline Flight ET 302 crash victims at the Holy Trinity Cathedral Orthodox church in Addis Ababa
A woman mourns next to coffins during the burial ceremony of the Ethiopian Airline Flight ET 302 crash victims at the Holy Trinity Cathedral Orthodox church in Addis Ababa, Ethiopia, March 17, 2019. REUTERS/Maheder Haileselassie

March 17, 2019

By Maggie Fick

ADDIS ABABA (Reuters) – Ethiopia said on Sunday the crash of an Ethiopian Airlines plane that killed 157 people had “clear similarities” with October’s Lion Air crash, according to analysis of the black boxes recovered from the wreckage of the March 10 disaster.

Both planes were Boeing 737 MAX 8s, and both crashed minutes after take off after pilots reported flight control problems. Concern over the plane’s safety caused aviation authorities worldwide to ground the model, wiping billions of dollars off Boeing’s market value.

Investigators are trying to determine why the aircraft plunged into a field shortly after take off from Addis Ababa, searching for possible similarities to an October Lion Air crash that killed 189 people.

“It was the same case with the Indonesian (Lion Air) one. There were clear similarities between the two crashes so far,” Ethiopian transport ministry spokesman Muse Yiheyis said.

“The data was successfully recovered. Both the American team and our (Ethiopian) team validated it. The minister thanked the French government. We will let you know more after three or four days,” he told Reuters.

In Washington, U.S. officials told Reuters that the U.S. Federal Aviation Administration and U.S. National Transportation Safety Board have not validated the data yet.

When investigators, after reviewing black box data, return to Addis Ababa and start conducting interpretive work, the NTSB and FAA will assist in verification and validation of the data, an official said.

In Paris, France’s BEA air accident investigation agency said data from the jet’s cockpit voice recorder had been successfully downloaded. The French agency said in a tweet it had not listened to the audio files and that the data had been transferred to Ethiopian investigators.

In Addis Ababa, a source who has listened to the air traffic control recording of the plane’s communications said flight 302 had an unusually high speed after take-off before the plane reported problems and asked permission to climb quickly.

Ethiopian Airlines crash: https://tmsnrt.rs/2Hn6V4k

SAFETY ANALYSIS

A preliminary report on the crash is to be released within 30 days, the Wall Street Journal reported, citing the transport minister.

The Seattle Times reported that Boeing’s safety analysis of a new flight control system on 737 MAX jets had several crucial flaws.

The analysis of the system called MCAS (Maneuvering Characteristics Augmentation System) understated the power of this system, the Seattle Times said, citing current and former engineers at the U.S. Federal Aviation Administration (FAA).

The FAA also did not delve into any detailed inquiries and followed a standard certification process on the MAX, the Seattle Times reported citing an FAA spokesman.

The FAA declined to comment on the Seattle Times report but referred to previous statements about the certification process. It has said the 737-MAX certification process followed the FAA’s standard certification process.

The report also said both Boeing and the FAA were informed of the specifics of this story and were asked for responses 11 days ago, before the crash of an Ethiopian Airlines 737 MAX last Sunday that killed all 157 people on board. The same model flown by Lion Air crashed off the coast of Indonesia in October, killing all 189 on board.

Last Monday Boeing said it would deploy a software upgrade to the 737 MAX 8, a few hours after the FAA said it would mandate “design changes” in the aircraft by April.

A Boeing spokesman said 737 MAX was certified in accordance with the identical FAA requirements and processes that have governed certification of all previous new airplanes and derivatives. The spokesman said the FAA concluded that MCAS on 737 MAX met all certification and regulatory requirements.

In Addis Ababa, aviation staff gathered at Bole International Airport to remember the two pilots and six crew, who perished along with the 149 passengers.

Weeping women held single stems in their shaking hands. Banks of the white flowers, the traditional color of mourning, were placed in front of a row of empty coffins at the ceremony.

The grounded 737 Max fleet: https://tmsnrt.rs/2u5sZYI

(Additional reporting by David Shepardson, Gaurika Juneja, Editing by William Maclean)

Source: OANN

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U.S. housing starts fall on weak single-family homebuilding

A single family home is shown under construction by Toll Brothers Inc, the largest U.S. luxury homebuilder, in Carlsbad, California
A single family home is shown under construction by Toll Brothers Inc, the largest U.S. luxury homebuilder, in Carlsbad, California, United States May 23, 2016. REUTERS/Mike Blake/File Photo

March 26, 2019

WASHINGTON, March 26 (Reuters) – U.S. homebuilding fell more than expected in February as construction of single-family homes dropped to more than a 1-1/2-year low, but the outlook for the housing market is improving amid declining mortgage rates.

Housing starts decreased 8.7 percent to a seasonally adjusted annual rate of 1.162 million units last month, the Commerce Department said on Tuesday. The percent decline was the largest in eight months, and bad weather could have contributed to the sharp drop in homebuilding last month.

Data for January and December were revised higher.

Building permits fell 1.6 percent to a rate of 1.296 million units in February. While that was the second straight monthly drop in permits, they are now outpacing starts, which suggests a pickup in homebuilding in the months ahead.

Economists polled by Reuters had forecast housing starts falling to a pace of 1.213 million units in February.

The housing market hit a soft patch last year, squeezed by higher mortgage rates, pricey lumber, and land and labor shortages, which led to tight inventories and more expensive homes. But borrowing costs have eased as the Federal Reserve signaled it was halting further interest rates increases this year amid growing headwinds to the economy.

The 30-year fixed mortgage rate dropped to an average of 4.28 percent last week, the lowest in more than a year, from 4.31 in the prior week, according to data from mortgage finance agency Freddie Mac. House price inflation is also slowing.

Still, homebuilders remain constrained in their ability to construct more homes for the lower end of the market. A survey last week showed confidence among homebuilders was steady in March, with builders still complaining about the scarcity of skilled workers, land and zoning restrictions in many major metro areas.

Investment in homebuilding contracted 0.2 percent in 2018, the weakest performance since 2010.

Single-family homebuilding, which accounts for the largest share of the housing market, tumbled 17.0 percent to a rate of 805,000 units in February, the lowest level since May 2017. The percentage drop in single-family homebuilding was the largest since February 2015.

Single-family homebuilding fell in all four regions last month. Permits to build single-family homes were unchanged in February at a pace of 821,000. These permits are now leading housing starts, suggesting a rebound in single-family construction in the coming months.

Starts for the volatile multi-family housing segment jumped 17.8 percent to a rate of 357,000 units in February. Permits for the construction of multi-family homes fell 4.2 percent to a pace of 475,000 units last month.

(Reporting by Lucia Mutikani Editing by Paul Simao) ((Lucia.Mutikani@thomsonreuters.com; 1 202 898 8315; Reuters Messaging: lucia.mutikani.thomsonreuters.com@reuters.net)

Source: OANN

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Fourteen killed in Colombia plane crash: civil aviation agency

Wreckage is seen from a Douglas DC-3 passenger aircraft which crashed on the Colombian plains province of Meta, San Martin
Wreckage is seen from a Douglas DC-3 passenger aircraft which crashed on the Colombian plains province of Meta, San Martin, Colombia March 9, 2019. REUTERS/Santiago Molina

March 10, 2019

BOGOTA (Reuters) – Fourteen people were killed in a plane crash in the Colombian plains province of Meta on Saturday, the country’s civil aviation agency said.

The Special Administrative Unit of Civil Aeronautics said there were no survivors of the crash, which occurred after the DC-3 aircraft made a distress call at 10:40 a.m. local time (1540 GMT).

The plane, which is owned by Laser Aereo airlines, was en route from the southern city of San Jose del Guaviare to central Villavicencio, the agency said.

It crashed about midway through its flight, in San Carlos de Guaroa municipality.

The airline said it had no immediate comment.

In a later statement posted on Twitter, the agency named those who had died, including the mayor of a small town in the jungle province of Vaupes.

The aircraft’s navigability permissions were up-to-date, as were the medical certifications of its crew, the agency added.

(Reporting by Julia Symmes Cobb and Luis Jaime Acosta in Bogota; Editing by Matthew Lewis and Diane Craft)

Source: OANN

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U.S. shale producers turn to jobs cuts as investor pressures mount

FILE PHOTO: Workers hired by U.S. oil and gas company Apache Corp drill horizontal well in the Wolfcamp Shale in west Texas’ Permian Basin near the town of Mertzon
FILE PHOTO: Workers hired by U.S. oil and gas company Apache Corp drill a horizontal well in the Wolfcamp Shale in west Texas’ Permian Basin near the town of Mertzon, Texas October 29, 2013. REUTERS/Terry Wade/File Photo

April 9, 2019

By Jennifer Hiller

HOUSTON (Reuters) – Having slashed spending plans and run out of willing buyers for assets, some U.S. shale producers are turning to workforce cuts as investors step up demands for returns.

Pioneer Natural Resources Co, one of the largest producers in the Permian Basin of West Texas and New Mexico, and Laredo Petroleum Inc another Permian producer, this week disclosed plans to shed workers.

Irving, Texas-based Pioneer declined to say how many of its about 3,200 employees would be cut. The company has not had a layoff since 1998.

Severance packages will be offered and the company said it expects to dismiss workers by June. Pioneer has been trying to sell assets in South Texas to concentrate on the Permian for more than a year.

In February, it released fourth-quarter financial results that fell short of Wall Street expectations and that same month Chief Executive Tim Dove agreed to retire.

Shale firms have pushed U.S. oil output to record levels. But years of heavy spending led to investor pressure to reduce spending and use the cash to provide payouts, rather than produce more oil.

Pioneer employees told a Midland, Texas, TV station that the company wanted to cut about 300 workers, or about 10 percent of its workforce.

Tulsa, Oklahoma-based Laredo Petroleum said on Tuesday it cut about 20 percent of its 340 employees, which would save the firm around $30 million per year. It also replaced its finance chief.

Laredo had to make the staff cuts to “focus on increasing corporate-level returns and growing within cash flow from operations,” CEO Randy A. Foutch said in a statement.

Cash-strapped shale companies can expect increasing pressure from shareholders, analysts at Tudor, Pickering, Holt & Co said in a note to clients Tuesday. It forecast more industry job cuts “over the coming quarters as companies address right-sizing the corporate cost structure.”

(Reporting by Jennifer Hiller)

Source: OANN

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UK government claims to win Brexit deal changes in last-minute talks

The British government said Monday that frenzied last-minute diplomacy had won "legally binding changes" to overcome a roadblock in its divorce deal with the European Union, hours before Parliament was due to decide the fate of Prime Minister Theresa May's hard-won agreement -- and of Britain's departure from the EU.

On the eve of Tuesday's vote, May flew to the French city of Strasbourg, where EU legislators were meeting, for nighttime talks with European Commission President Jean-Claude Juncker. The prime minister was seeking revisions, guarantees or other changes to persuade reluctant British legislators to back her withdrawal agreement with the EU, which they resoundingly rejected in January.

Late Monday, Cabinet Office Minister David Lidington announced in the House of Commons that the two sides had agreed on "legally binding changes" to a portion of the deal relating to the Irish border.

He said the changes should overcome lawmakers' qualms about a mechanism in the deal designed to keep an open border between Britain's Northern Ireland and EU member Ireland. The mechanism, known as the backstop, is a safeguard that would keep the U.K. in a customs union with the EU until a permanent new trading relationship is in place.

Brexit-supporting lawmakers in Britain fear the backstop could be used to bind the country to EU regulations indefinitely.

Lidington said the new guarantee "provides confirmation that the EU cannot try to trap the U.K. in the backstop indefinitely."

Lidington said lawmakers faced "a fundamental choice ... to vote for the improved deal or to plunge this country into a political crisis."

Pro-Brexit lawmakers said they would read the fine print before deciding how to vote on Tuesday.

Lidington spoke before May and Juncker emerged from their talks. Earlier, Juncker kissed May twice on the cheeks when she arrived at the commission's headquarters in the European Parliament building. EU Brexit negotiator Michel Barnier kissed her hand before they went inside for talks.

When negotiations between the EU and the British government were at a low ebb, Juncker shook the British leader's hand before a similar meeting.

The EU is unwilling to reopen an agreement it spent a year and a half negotiating, while British legislators remain split over whether to leave the bloc and, if so, on what terms.

Britain is due to pull out of the EU in less than three weeks, on March 29, but the government has not been able to win parliamentary approval for its agreement with the bloc on withdrawal terms and future relations. The impasse has raised fears of a chaotic "no-deal" Brexit that could mean major disruption for businesses and people in Britain and the 27 remaining EU countries.

"This is a government in chaos, with a country in chaos because of this mess," Labour Party leader Jeremy Corbyn said.

May has staked her political reputation on securing an exit deal with the EU and is under mounting pressure to quit if it is defeated again. She survived a bid to oust her through a no-confidence vote in December. As a result, she cannot be forced from office for a year.

The EU is frustrated at what it sees as the inability of Britain's weak and divided government to lay out a clear vision for Brexit. It is irritated, too, that Britain is seeking changes to an agreement that May herself helped negotiate.

May has been working frantically to save her deal, speaking by phone to eight EU national leaders since Friday, including French President Emmanuel Macron and German Chancellor Angela Merkel.

Merkel said Monday that Juncker and Barnier had made "a multitude of suggestions" over the weekend on the backstop.

"I think that an important offer has again been made to Britain, and now it is of course for Britain to respond to these offers," she said.

If Parliament throws out May's deal again on Tuesday, lawmakers will vote over the following two days on whether to leave the EU without an agreement -- an idea likely to be rejected -- or to ask the EU to delay Brexit beyond the scheduled March 29 departure date.

May warned last week that any delay could mean "we may never leave the EU at all."

Conservative lawmaker Nicky Morgan said May's position will become "less and less tenable" if she suffers more defeats in Parliament this week.

"If the votes go this week in a way which means that the prime minister's policy as she has set out and stuck to rigidly over the course of the last two and a bit years is taken away, dismantled slowly by Parliament this week, I think it would be very difficult for the prime minister to stay in office for very much longer," Morgan told the BBC.

Alan Wager, a Brexit expert at the U.K. in a Changing Europe think tank, said Parliament this week could decisively rule out both May's deal and a no-deal departure.

That, in turn, would make such options as a new Brexit referendum or a "softer" withdrawal from the EU lot more likely, he said.

"Finally, the House of Commons is going to have to make a final judgment on what it wants in terms of Brexit," he said.

Source: Fox News World

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Economist named as Mali’s prime minister amid violence

Mali's president has chosen an economist to replace the prime minister following growing violence by ethnic militias in the country's center.

Boubou Cisse, the 45-year-old finance minister, is seen as a close ally of President Ibrahim Boubacar Keita.

Cisse's appointment was the sixth made by the president since he took power in 2013.

Mali's former prime minister, Soumeylou Boubeye Maiga, resigned under pressure amid the insecurity in central Mali.

The conflict drew an international outcry after an attack last month left 154 people dead.

Members of ethnic groups on both sides of the rival militias say the army has failed to protect them, complicating government efforts to disarm the fighters.

Source: Fox News World

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Britain's Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador's residence in Beijing
Britain’s Chancellor of the Exchequer Philip Hammond looks on during an interview with Reuters at the British Ambassador’s residence in Beijing, China April 26, 2019. REUTERS/Florence Lo/Pool

April 26, 2019

BEIJING (Reuters) – British finance minister Philip Hammond said on Friday that he had a “very constructive meeting” with his counterpart in the opposition Labour Party before leaving for Beijing and that he was optimistic about finding common ground.

Hammond, speaking on the sidelines of a summit on China’s Belt and Road initiative in Beijing, said talks with Labour aimed at finding a way forward on Brexit had not stalled.

“I’m optimistic that we will find common ground,” he said. “Both sides have got clear positions and both sides will have to compromise in order to reach an agreement.”

Hammond added that he absolutely did not favor a no deal exit from the European Union.

(Reporting by Ben Blanchard; editing by Darren Schuettler)

Source: OANN

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Police secure the area where the body of a woman was discovered near the village of Orounta
Police secure the area where the body of a woman was discovered near the village of Orounta, Cyprus, April 25, 2019. REUTERS/Stefanos Kouratzis

April 26, 2019

NICOSIA (Reuters) – Cypriot police searched on Friday for more victims of a suspected serial killer, in a case which has shocked the Mediterranean island and exposed the authorities to charges of “criminal indifference” because the dead women were foreigners.

The main opposition party, the left-wing AKEL, called for the resignation of Cyprus’s justice minister and police chief.

Police were combing three different locations west of the capital Nicosia for victims of the suspected killer, a 35-year-old army officer who has been in detention for a week.

The bodies of three women, including two thought to be from the Philippines, have been recovered. Police sources said the suspect had indicated the location of the third body, found on Thursday, and had said the person was “either Indian or Nepali”.

Police said they were searching for a further four people, including two children, based on the suspect’s testimony.

“These women came here to earn a living, to help their families. They lived away from their families. And the earth swallowed them, nobody was interested,” AKEL lawmaker Irene Charalambides told Reuters.

“This killer will be judged by the court but the other big question is the criminal indifference shown by the others when the reports first surfaced. I believe, as does my party, that the justice minister and the police chief should resign. They are irrevocably exposed.”

Police have said they will investigate any perceived shortcomings in their handling of the case.

One person who did attempt to alert the authorities over the disappearances, a 70-year-old Cypriot citizen, said his motives were questioned by police.

The bodies of the two Filipino women reported missing in May and August 2018 were found in an abandoned mine shaft this month. Police discovered the body of the third woman at an army firing range about 14 km (9 miles) from the mine shaft.

Police are now searching for the six-year-old daughter of the first victim found, a Romanian mother who disappeared with her eight-year-old child in 2016, and a woman from the Phillipines who vanished in Dec. 2017.

The suspect has not been publicly named, in line with Cypriot legal practice.

A public vigil for the missing was planned later on Friday.

(Reporting By Michele Kambas; Editing by Gareth Jones)

Source: OANN

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An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard
FILE PHOTO: An employee looks up at goods at the Miniclipper Logistics warehouse in Leighton Buzzard, Britain December 3, 2018. REUTERS/Simon Dawson

April 26, 2019

LONDON, April 26 – British factories stockpiled raw materials and goods ahead of Brexit at the fastest pace since records began in the 1950s, and they were increasingly downbeat about their prospects, a survey showed on Friday.

The Confederation of British Industry’s (CBI) quarterly survey of the manufacturing industry showed expectations for export orders in the next three months fell to their lowest level since mid-2009, when Britain was reeling from the global financial crisis.

The record pace of stockpiling recorded by the CBI was mirrored by the closely-watched IHS Markit/CIPS purchasing managers’ index published earlier this month.

(Reporting by Andy Bruce, editing by David Milliken)

Source: OANN

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Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing
Malaysian Prime Minister Mahathir Mohamad speaks at the opening ceremony for the second Belt and Road Forum in Beijing, China April 26, 2019. REUTERS/Florence Lo

April 26, 2019

KUALA LUMPUR (Reuters) – Fewer than half of Malaysians approve of Prime Minister Mahathir Mohamad, an opinion poll showed on Friday, as concerns over rising costs and racial matters plague his administration nearly a year after taking office.

The survey, conducted in March by independent pollster Merdeka Center, showed that only 46 percent of voters surveyed were satisfied with Mahathir, a sharp drop from the 71 percent approval rating he received in August 2018.

Mahathir’s Pakatan Harapan coalition won a stunning election victory in May 2018, ending the previous government’s more than 60-year rule.

But his administration has since been criticized for failing to deliver on promised reforms and protecting the rights of majority ethnic Malay Muslims.

Of 1,204 survey respondents, 46 percent felt that the “country was headed in the wrong direction”, up from 24 percent in August 2018, the Merdeka Center said in a statement. Just 39 percent said they approved of the ruling government.

High living costs remained the top most concern among Malaysians, with just 40 percent satisfied with the government’s management of the economy, the survey showed.

It also showed mixed responses to Pakatan Harapan’s proposed reforms.

Some 69 percent opposed plans to abolish the death penalty, while respondents were sharply divided over proposals to lower the minimum voting age to 18, or to implement a sugar tax.

“In our opinion, the results appear to indicate a public that favors the status quo, and thus requires a robust and coordinated advocacy efforts in order to garner their acceptance of new measures,” Merdeka Center said.

The survey also found 23 percent of Malaysians were concerned over ethnic and religious matters.

Some groups representing Malays have expressed fear that affirmative-action policies favoring them in business, education and housing could be taken away and criticized the appointments of non-Muslims to key government posts.

Last November, the government reversed its pledge to ratify a UN convention against racial discrimination, after a backlash from Malay groups.

Earlier this month, Pakatan Harapan suffered its third successive loss in local elections since taking power, which has been seen as a further sign of waning public support.

Despite the decline, most Malaysians – 67 percent – agreed that Mahathir’s government should be given more time to fulfill its election promises, Merdeka Center said.

This included a majority of Malay voters who were largely more critical of the new administration, it added.

(Reporting by Rozanna Latiff; Editing by Nick Macfie)

Source: OANN

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The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 25, 2019. REUTERS/Staff

April 26, 2019

By Medha Singh and Agamoni Ghosh

(Reuters) – European shares slipped on Friday after losses in heavyweight banks and Glencore outweighed gains in healthcare and auto stocks, while investors remained on the sidelines ahead of U.S. economic data for the first quarter.

The pan-European STOXX 600 index was down 0.1 percent by 0935 GMT, eyeing a modest loss at the end of a holiday-shortened week. Banks-heavy Italian and Spanish indices were laggards.

The banking index fell for a fourth day, at the end of a heavy earnings week for lenders.

Britain’s Royal Bank of Scotland tumbled after posting lower first quarter profit, hurt by intensifying competition and Brexit uncertainty, while its investment bank also registered poor returns.

Weakness in investment banking also dented Deutsche Bank’s quarterly trading revenue and sent its shares lower a day after the German bank abandoned merger talks with smaller rival Commerzbank.

“The current interest rate environment makes it challenging for banks to make proper earnings because of their intermediary function,” said Teeuwe Mevissen, senior market economist eurozone, at Rabobank.

Since the start of April, all country indexes were on pace to rise between 1.8 percent and 3.4 percent, their fourth month of gains, while Germany was strongly outperforming with 6 percent growth.

“For now the current sentiment is very cautious as markets wait for the first estimates of the U.S. GDP growth which could see a surprise,” Mevissen said.

U.S. economic data for the first-quarter is due at 1230 GMT. Growth worries outside the United States resurfaced this week after South Korea’s economy unexpectedly contracted at the start of the year and weak German business sentiment data for April also disappointed.

Among the biggest drags on the benchmark index in Europe were the basic resources sector and the oil and gas sector, weighed down by Britain’s Glencore and France’s Total, respectively.

Glencore dropped after reports that U.S authorities were investigating whether the company and its subsidiaries violated certain provisions of the commodity exchange act.

Energy major Total said its net profit for the first three months of the year fell compared with a year ago due to volatile oil prices and debt costs.

Chip stocks in the region including Siltronic, Ams and STMicroelectronics lost more than 1 percent after Intel Corp reduced its full-year revenue forecast, adding to concerns that an industry-wide slowdown could persist until the end of 2019.

Meanwhile, healthcare, which is also seen as a defensive sector, was a bright spot. It was helped by French drugmaker Sanofi after it returned to growth with higher profits and revenues for the first-quarter.

Luxembourg-based satellite operator SES led media stocks higher after it maintained its full-year outlook on the back of the company’s Networks division.

Automakers in the region rose 0.4 percent, led by Valeo’s 6 percent jump as the French parts maker said its performance would improve in the second half of the year.

Continental AG advanced after it backed its outlook for the year despite reporting a fall in first-quarter earnings.

Renault rose more than 3 percent as it clung to full-year targets and pursues merger talks with its Japanese partner Nissan.

(Reporting by Medha Singh and Agamoni Ghosh in Bengaluru; Editing by Gareth Jones and Elaine Hardcastle)

Source: OANN

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