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Euro zone governments worry over Italy’s low growth: Eurogroup

FILE PHOTO: Eurozone finance ministers meeting in Brussels
FILE PHOTO: Eurogroup President Mario Centeno attends a news conference at the end of a eurozone finance ministers meeting in Brussels, Belgium, December 4, 2018. REUTERS/Yves Herman/File Photo

April 23, 2019

By Axel Bugge and Sergio Goncalves

LISBON (Reuters) – The euro zone is worried about the heavily indebted Italian economy’s weak growth and needs Rome to implement its budget plans “with credibility”, the head of the currency bloc’s group of finance ministers said.

Speaking in an interview with Reuters, Mario Centeno, who leads the Eurogroup of 19 ministers, said it was essential that the euro zone’s third-largest economy returned to growth while meeting its budget targets.

“It is a challenge we should never be complacent about and that is why there is worry. That is where the big challenge of the Italian economy is — to grow,” he said.

Centeno was speaking late on Monday, on the eve of a Rome cabinet meeting to discuss stimulus measures. That meeting on Tuesday evening is expected to sign off on tax breaks, investment incentives and debt relief for local government.

Italy last year unveiled a big-spending budget for 2019, rattling the euro and other financial markets, but it has so far had little impact on growth. The economy slipped into technical recession at the end of 2018 and is now barely expanding.

The government, a fractious two-party coalition, downgraded its 2019 growth outlook this month to just 0.2 percent, from a December forecast of 1 percent. Its budget deficit is now set to climb to 2.4 percent of gross domestic product, above a goal of 2.04 percent previously agreed with the European Commission.

“Italy is facing some difficulties in this economic cycle,” Centeno said.

“The message is relatively simple: the government has a demanding budget to execute and it needs to be executed with credibility, and we need to gather all our efforts to reverse Italy’s growth tendency.”

Italy’s mix of high debt and low growth has shaken investors who have pushed relative yields on sovereign debt to high levels not only against German government bonds, considered the euro zone’s safest, but also above Spanish and Portuguese paper.

Centeno is also the finance minister of Portugal, which is often praised as an example in Europe for its combination of budget discipline with economic growth over the past few years.

Italy, the euro zone’s second-most indebted nation after Greece, had public debts equaling 132.2 percent of GDP in 2018, up from 131.4 percent in 2017. This year, its economy is again expected to expand less than all its euro-zone peers.

EURO ZONE REFORM

Despite the challenges of Italy and broadly slower growth across Europe, Centeno stressed that the euro zone had experienced a record 22 quarters of uninterrupted growth.

The budget positions of the euro zone’s 19 members are closer than at any time since 1995, thanks to reforms carried out during the debt crisis, he said.

That has resulted in the creation of about 10 million jobs in the euro area since 2013 and brought investment levels close to where they were before the 2009-14 euro debt crisis, he said.

“Europe reformed, today the euro zone is more robust and credible than it was five, six years ago,” he said.

To further reform the euro area and boost competitiveness, Centeno said a common budgetary instrument would go into effect in 2021 when the EU’s next multi-year budget began.

The new tool would set aside existing European funds to support reforms and convergence between economies and to help investments in countries facing temporary economic shocks.

A final decision on funding it is likely to be made in October.

Centeno has pushed hard for the creation of a common budget for the euro, calling it a longer-term project that would “make the euro area more robust and resilient”.

(Editing by Mark Bendeich and Andrei Khalip)

Source: OANN

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Trump backs away from Special Olympics funding cut

After days of controversy and criticism, President Trump said he is backing off a budget request that would have cut funding for the Special Olympics.

Trump told reporters at the White House on Thursday, “I’ve overridden my people for funding the Special Olympics.”

The president added: “I’ve been to the Special Olympics. I think it’s incredible.”

The Trump administration’s education budget proposal called for the elimination of $17.6 million for the Special Olympics, roughly 10 percent of the group’s overall revenue.

“We express our gratitude to President Trump for reauthorizing funding for Special Olympics school-based programming. He joins a long history of over 50 years of United States presidents and members of Congress on both sides of the aisle in their support of Special Olympics and the work we do in communities throughout the country,” the organization said in a statement after Trump’s announcement. “This is a nonpartisan issue and we are proud of our work to create inclusion in schools and among young people."

Trump officials previously called for the elimination of Special Olympics funding in their budget proposal for 2019, but Congress rejected the idea. Lawmakers from both parties said they would reject it again for 2020.

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Democrats pressed Education Secretary Betsy DeVos on the topic during a Senate budget hearing Thursday, just days after House Democrats grilled her on the proposal and sparked criticism online.

In a heated exchange with Sen. Dick Durbin, D-Ill., DeVos said she “wasn’t personally involved” in pushing for the cut, but she defended it as her agency seeks to pare $7 billion from the 2020 budget.

The Special Olympics provides both training and competition for children and adults with disabilities, with partners around the globe.

The Associated Press contributed to this report.

Source: Fox News Politics

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Exclusive: U.S. accelerates plan to drastically downsize Kabul embassy – sources

FILE PHOTO: View of the U.S. Embassy in Kabul
FILE PHOTO: View of the U.S. Embassy (front buildings) in Kabul, Afghanistan, January 20, 2016. REUTERS/Omar Sobhani/File Photo/File Photo

April 25, 2019

By Jonathan Landay and Phil Stewart

WASHINGTON (Reuters) – Secretary of State Mike Pompeo is accelerating a plan to cut up to half of the workforce at the U.S. embassy in Kabul starting at the end of next month, sparking concern it will undermine the fragile Afghan peace process, U.S. officials and congressional aides said.

Pompeo’s order for the largest U.S. diplomatic mission comes about a year earlier than expected, a surprise development given the meager progress in U.S. talks with Taliban militants on an agreement that would pave the way for a U.S. troop withdrawal and an end to America’s longest war.

The Taliban, their negotiating leverage bolstered by U.S. President Donald Trump’s public impatience to end the war, could dig in further because they would regard a large embassy drawdown as more confirmation of his eagerness to reduce the U.S. role in Afghanistan.

The Kabul embassy is a testament to the size of America’s investment in Afghanistan since it went to war there in 2001 after the September 11 attacks. With a workforce of about 1,500, the heavily fortified compound underwent an $800 million expansion four years ago and now includes 700 beds for staff.

One U.S. official said the reduction should be seen as part of a global redistribution of U.S. diplomats required by the Trump administration’s national security strategy shift from emphasizing counter-terrorism to confronting renewed “great power” rivalry with Russia and China.

But a drastic embassy workforce cut – which State Department officials briefed key congressional committees about last week in advance of a formal notification – will likely reverberate throughout Afghanistan.

It could erode a strained U.S. relationship with Afghan President Ashraf Ghani’s government a month after the allies publicly clashed over Kabul’s exclusion from the negotiations with the Taliban in Doha, Qatar.

Ghani “would see this as another step in a betrayal,” said Thomas Lynch, a U.S. National Defense University fellow focused on Afghanistan and former adviser to the U.S. military’s Joint Chiefs of Staff.

U.S. officials and congressional aides said that among the concerns about a major drawdown was the risk that it could alarm NATO allies, already at odds with Trump over a host of issues, and ordinary Afghans.

A State Department spokeswoman said in an email when asked about the planned embassy cuts that the department “regularly reviews our presence at our overseas missions to reflect changing circumstances and our policy goals.”

Trump’s priorities are “ending the war in Afghanistan through a sustainable peace settlement and focusing on counterterrorism,” she said, adding that Washington will maintain “a robust” presence in Afghanistan.

She did not explain why Pompeo moved up the embassy staff reduction plan.

‘SHOCK AND STUPEFACTION’

U.S. negotiator, Zalmay Khalilzad, has reported some progress toward an accord on a U.S. troop withdrawal and on how the Taliban would prevent extremists from using Afghanistan to launch attacks as al Qaeda did on Sept. 11, 2001.

The insurgents, however, so far have rejected U.S. demands for a ceasefire and talks on the country’s political future that would include Afghan government officials.

News that Washington was examining a workforce cut in Kabul first was reported by National Public Radio in February. Foreign Policy magazine reported earlier this month that the State Department was preparing to reduce personnel by half in 2020.

Now, the reduction “is starting as soon as May 31 and they want to have it done by September,” said one congressional aide.

Four other sources, including three U.S. officials, confirmed the plan to reduce the embassy staff by up to half. One said it would be achieved by not filling posts that regularly go vacant.

Pompeo’s order was not accompanied by a justification, such as cost-cutting, said a U.S. official and a congressional aide.

“You have to have some parameters, some guidelines, and there weren’t any,” said the U.S. official, adding that Pompeo’s directive triggered “shock and stupefaction” in the State Department when it was issued about two weeks ago.

The congressional aide said that when asked to justify the drawdown in congressional briefings last week, State Department officials said,

(Reporting by Jonathan Landay and Phil Stewart Additional reporting by Patricia Zengerle; Editing by Mary Milliken and Alistair Bell)

Source: OANN

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First LGBT Forum EVER at @NC GOP HQ – Trump Pardons Jack Johnson – Gang of 8 & SPYGATE

MAGA FIRST NEWS MAY 24th 2018   Articles Featured in Maga First News May 24th 2018 [Video] North Carolina Republicans host civilized discussion on LGBT issues-Triangle Urban Republicans   [North Carolina] Lt. Governor Forest hosted FCC Chairman: “NC Schools can be model for the Country” Trump posthumously pardons Jack Johnson, boxing’s first black heavyweight champion […]

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Benedict says Vatican legal system protected accused clergy

Emeritus Pope Benedict XVI says in a new document that protections built into the Vatican's legal protections worked in favor of clergy accused of sex abuse to the point of making a conviction "nearly impossible" in past decades.

Corriere della Sera on Thursday quoted from the 18-page document titled "The Church and the sex abuse scandal," which was published by the German monthly Klerusblatt. The diocesan association was unable to provide a copy of the original text.

Benedict wrote that during the 1980s and 1990s, "the right to a defense was so broad as to make a conviction nearly impossible."

Benedict took a hard line against clerical sex abuse as the Vatican's conservative doctrine chief, and later as pope, defrocking hundreds of priests accused of raping and molesting children.l

Source: Fox News World

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Nike Unveils New Kaepernick Jersey After NFL Settlement

Nike is selling a new Colin Kaepernick jersey now that the controversial former quarterback has settled his grievance with the National Football League.

The sports apparel company is offering the black jersey for $150. It has Kaepernick's former No. 7 on the front and back, while his last name is emblazoned across the back.

"The Kaepernick Icon Jersey is a celebration of those who seek truth in their communities, and those who remain true to themselves," the product description reads. "Built with Dri-FIT technology, the jersey is made to keep you dry and comfortable wherever you go."

Kaepernick gained notoriety for taking a knee during the pregame playing of the National Anthem in 2016. He became a free agent at the start of the next season, but no team has opted to sign him to a contract.

Kaepernick and Eric Reid settled with the NFL last week after they claimed the league blackballed them for their National Anthem protests.

"We believe Colin Kaepernick is one of the most inspirational athletes of this generation, who has leveraged the power of sport to help move the world forward," Nike's Sandra Carreon-John told USA Today. "The jersey marks Nike's continued product collaboration with Colin, and will be available for a limited time on Nike.com and the Nike App."

Kaepernick's protests were over perceived injustices of minorities, particularly those killed in police shootings.

Source: NewsMax America

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Investigators find flight recorders from Ethiopian jet crash

Authorities in Ethiopia, China and Indonesia grounded all Boeing 737 Max 8 aircraft Monday following the crash of an Ethiopian Airlines jetliner that killed 157 people, and investigators found the flight recorders from the field where the plane went down.

The new plane crashed shortly after takeoff in clear weather outside Addis Ababa on Sunday, and the airline decided to ground its remaining four 737 Max 8s until further notice as "an extra safety precaution," spokesman Asrat Begashaw said. Ethiopian Airlines had been using five of the planes and awaiting delivery of 25 more.

As Ethiopia observed a day of mourning, Red Cross workers slowly picked through the widely scattered debris near the blackened crash crater, looking for the remains of the dead, while heavy machinery dug for larger pieces of the plane.

The plane's flight data and cockpit voice recorders were found, Ethiopian Airlines said. An airline official, however, said one of the recorders was partially damaged and "we will see what we can retrieve from it." The official spoke on condition of anonymity for lack of authorization to speak to the media.

Ethiopian authorities are leading the investigation into the crash, assisted by the U.S., Kenya and others.

"These kinds of things take time," Kenya's Transport Minister James Macharia told reporters.

Sunday's crash was strikingly similar to that of a Lion Air jet of the same Boeing model in Indonesian seas last year, killing 189 people. The crash was likely to renew questions about the 737 Max 8, the newest version of Boeing's popular single-aisle airliner, which was first introduced in 1967 and has become the world's most common passenger jet.

Safety experts cautioned against drawing too many comparisons between the two crashes until more is known about the disaster. Besides the groundings in China and Indonesia, Caribbean carrier Cayman Airways temporarily grounded their Max 8s.

People from 35 countries died in the crash six minutes after the plane took off from Ethiopia's capital for Nairobi. Ethiopian Airlines said the senior pilot issued a distress call and was told to return but all contact was lost shortly afterward. The plane plowed into the ground at Hejere near Bishoftu, scattering debris like a shredded book, a battered passport and business cards in multiple languages.

"I heard this big noise," resident Tsegaye Reta told the AP. "The villagers said that it was a plane crash, and we rushed to the site. There was a huge smoke that we couldn't even see the plane. The parts of the plane were falling apart."

Kenya lost 32 people, more than any country. Relatives of 25 of the victims had been contacted, Macharia said, and taking care of their welfare was of utmost importance.

"Some of them, as you know, they are very distressed," he said. "They are in shock like we are. They are grieving."

In Addis Ababa, members of an association of Ethiopian airline pilots cried uncontrollably for their dead colleagues. Framed photos of seven crew members sat in chairs at the front of a crowded room.

Canada, Ethiopia, the U.S., China, Italy, France, Britain, Egypt, Germany, India and Slovakia all lost four or more citizens.

At least 21 staff members from the United Nations were killed in the crash, said U.N. Secretary-General Antonio Guterres, who led a moment of silence at a meeting where he said "a global tragedy has hit close to home."

Both Addis Ababa and Nairobi are major hubs for humanitarian workers, and some had been on their way to a large U.N. environmental conference set to begin Monday in Nairobi. The U.N. flag at the event flew at half-staff.

The crash shattered more than two years of relative calm in African skies, where travel had long been chaotic. It also was a serious blow to the Ethiopian Airlines, which has expanded to become the continent's largest and best-managed carrier and turned Addis Ababa into the gateway to Africa.

The state-owned carrier has a good reputation and the company's CEO told reporters no problems were seen before Sunday's fight. But investigators also will look into the plane's maintenance, which may have been an issue in the Lion Air crash.

The plane was delivered to Ethiopian Airlines in November. The jet's last maintenance was on Feb. 4, and it had flown just 1,200 hours.

China's Civil Aviation Administration said that it ordered airlines to ground all 737 Max 8 aircraft as of 6 p.m. (1000 GMT) Monday, in line with the principle of "zero tolerance for security risks."

It said it would issue further notices after consulting with the U.S. Federal Aviation Administration and Boeing.

China Southern Airlines is one of Boeing's biggest customers for the aircraft.

Chicago-based Boeing said it did not intend to issue any new guidance to its customers. It plans to send a technical team to the crash site to help Ethiopian and U.S. investigators, however, and issued a statement saying it was "deeply saddened to learn of the passing of the passengers and crew" on the Ethiopian Airlines Max airplane.

The 737 is the best-selling airliner in history, and the Max, the newest version of it with more fuel-efficient engines, is a central part of Boeing's strategy to compete with European rival Airbus.

"Safety is our No. 1 priority and we are taking every measure to fully understand all aspects of this accident, working closely with the investigating team and all regulatory authorities involved," the company said in a statement.

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Meseret reported from Addis Ababa. Associated Press writer Niniek Karmini in Jakarta, Indonesia, Edith M. Lederer at the United Nations and AP Airlines Writer David Koenig in Dallas, Texas, contributed.

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Follow Africa news at https://twitter.com/AP_Africa

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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