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Groundbreaking Indian Ocean science mission reaches an end

The British-led Nekton scientific mission on Thursday completed a seven-week expedition in the Indian Ocean aimed at documenting changes beneath the waves that could affect billions of people in the surrounding region over the coming decades.

Little is known about the watery world below depths of 30 meters (yards), the limit to which a normal scuba diver can go. Operating down to 450 meters with manned submersibles and underwater drones off the island nation of the Seychelles, the scientists were the first to explore areas of great diversity where sunlight weakens and the deep ocean begins.

The oceans' role in regulating climate and the threats they face from global warming are underestimated by many. Scientific missions are crucial in taking stock of underwater ecosystems' health.

Principal scientist Lucy Woodall called the mission "massively successful," saying that members believe they have found evidence near several coral islands of a so-called rariphotic zone, or "twilight zone," located between 130 and 300 meters deep.

"The rariphotic zone has been shown in a number of papers in the Atlantic and Caribbean but has never previously been shown in the Indian Ocean," Woodall said, adding that months of analysis will be needed to confirm the discovery.

In this twilight zone that sunlight barely reaches, photosynthesis is no longer possible and species that cannot move toward the ocean's surface rely on particles falling from above for sustenance.

Woodall also said she was excited to see "vibrant" communities of fish during the mission.

"We're seeing schools of small fish — that middle of the food chain — but we're also seeing a large number of big predators — the sharks and all the other fish predators as well that are there. So this shows that protection works," she said.

With the expedition over, the long work of analysis begins. Researchers conducted over 300 deployments, collected around 1,300 samples and 20 terabytes of data and surveyed about 30 square kilometers (11.5 sq. miles) of seabed using high-resolution multi-beam sonar equipment.

Woodall estimated her team will need up to 18 months of lab work to process and make sense of the data gathered during the expedition.

The data will be used to help the Seychelles expand its policy of protecting almost a third of its national waters by 2020. The initiative is important for the country's "blue economy," an attempt to balance development needs with those of the environment.

On Sunday, President Danny Faure visited the Nekton team and delivered a striking speech broadcast live from deep below the ocean's surface, making a global plea for stronger protection of the "beating blue heart of our planet."

For Nekton mission director Oliver Steeds, Faure's visit was a win for the ocean.

"I hope our ability to broadcast live from the ocean has helped put the oceans back on the map in the boardrooms, the corridors of power and in the classrooms," Steeds said. "That's where the decisions need to be made to fundamentally secure our future and the improved management and conservation of our ocean."

He said mission members hope that nations across the Indian Ocean will have the political will to improve the management and conservation of their waters.

"It's been an extraordinary aquatic adventure," Steeds said. "We're delighted that so many people around the world have been following our progress but it only really matters if the Seychelles can continue to take a lead on the world stage as a beacon of hope for ocean conservation."

This is the first of a half-dozen regions the mission plans to explore before the end of 2022, when scientists will present their research at a summit on the state of the Indian Ocean.

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More on the mission at https://apnews.com/SeychellesOceanMission

Source: Fox News World

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Romania’s Black Sea gas projects hanging by a thread

The logo of Romanian integrated oil company OMV Petrom is pictured outside its headquarters in Bucharest
The logo of Romanian integrated oil company OMV Petrom is pictured outside its headquarters in Bucharest, Romania, March 28, 2019. Inquam Photos/Octav Ganea via REUTERS

April 1, 2019

By Luiza Ilie and Kirsti Knolle

BUCHAREST (Reuters) – Romania’s new energy regulations risk undermining plans by companies to develop big offshore gas projects in the Black Sea, putting billions of dollars of revenue at risk and squandering a chance to challenge Russia’s Gazprom in the region.

Oil industry officials have warned the changes, which include a cap on some gas prices for local producers until 2022 and a 2 percent turnover tax on all energy firms bar state-owned coal-fired power plants, could slash investment plans.

OMV Petrom, which is developing a Romanian gas field with ExxonMobil, said key conditions for the project were still not in place while Black Sea Oil & Gas, controlled by private equity firm The Carlyle Group, warned it could pull out of another project if the rules remain.

The European Commission also told Romania in March that gas export restrictions and regulated prices probably contravene EU rules and could be challenged by Brussels.

Most of the new measures, first announced in an emergency decree in December, were confirmed on Friday.

The government made a last-minute concession, eliminating a cap on gas prices for industrial consumers. That means producers only have to sell about a third of their output at a fixed price – to households and heating plants – rather than more than half.

But the concession was not enough to placate the companies, given that the turnover tax and new export restrictions approved last year remain in force, coupled with the risk the state could simply shift the goal posts again.

Romania now risks delaying offshore gas projects and playing into the hands of Russia, which blocked Ukraine from exploring its Black Sea resources by occupying Crimea, analysts said.

“Postponement doesn’t benefit anyone, not the state, consumers, the economy, investors,” said Razvan Nicolescu, executive lead advisor in Deloitte’s energy and resources division in Bucharest. “The only winner is Gazprom, the sole gas provider in the region.”

Romania’s Black Sea gas has the potential to challenge Gazprom’s dominant role in central and eastern Europe, diversify gas supplies and bring the Romanian government revenue of $26 billion by 2040, according to the consultancy.

Romania’s offshore gas reserves are estimated at 200 billion cubic metres. Russia, meanwhile, has proven reserves of 35 trillion cubic metres, according to BP’s statistical review.

But while German consumption alone would empty the Romanian gas fields in two years, they could cover the combined 2017 demand of Romania, Bulgaria, Serbia, Hungary and Moldova for more than six years.

“Any cubic metre of gas produced in Romania means one less cubic metre produced and sold by Russia. Access to markets and a market share as high as possible are very important economic stakes,” said Nicolescu.

DEAL BREAKERS?

Several gas producers have spent upwards of a decade and billions of dollars preparing to tap Romania’s Black Sea gas, but they were blindsided by the government decree. Lawmakers also approved export restrictions on offshore gas producers.

The ruling Social Democrats, gearing up for four elections this year and next, have said the gas price cap was designed to keep tariffs low for domestic users.

“As we have said before, we want to protect the household consumer,” Energy Minister Anton Anton said on Friday.

Black Sea Oil & Gas (BSOG) decided earlier this year to press ahead with plans to extract an estimated 10 billion cubic metres of gas from shallow waters – given the amount of money it has already invested.

But CEO Mark Beacom told Reuters the changes undermined the willingness of investors to move forward and were contrary to earlier assurances and legal provisions provided by the state.

“The new proposed measures taken by the government are not the best way to protect vulnerable consumers and are not sufficient to mitigate all the harmful measures recently put in place,” he said on Monday.

Beacom said the entire emergency decree should be revoked, as well as additional fees and export restrictions brought in by parliament last year.

“There are always deal breakers in many different areas that could cause the investment to be terminated,” he said in March.

“We look forward to having a constructive engagement with the relevant authorities to seek resolution on these issues but do not exclude the possibility of pursuing a legal course of action should such engagement not result in a positive outcome.”

ExxonMobil and OMV Petrom, controlled by Austria’s OMV, had planned to give the final green light for their deep water Neptun project last year, having spent nearly $2 billion to prepare for production at one of the EU’s most significant natural gas deposits.

The project is now on hold.

OMV Petrom chief executive Christina Verchere said on Friday that removing the gas price cap for industrial customers answered some but not all of the industry’s concerns and further talks were needed.

“Development of the Black Sea is a huge opportunity for both OMV Petrom and Romania, however, key requirements are currently not in place,” she said. “Consultation with the business environment, predictability and legislative and fiscal stability are the foundation for stimulating investment.”

ExxonMobil spokeswoman Julie King said the company was looking forward “to continuing our discussions with the Romanian government, parliament and relevant institutions as project evaluations continue”.

SORE POINT

According to a study commissioned by Romanian oil producers (ROPEPCA), the measures would cost the government $540 million in taxes a year and slash investment and production.

While Romania is almost energy independent – it only gets 10 percent of its needs from Russia – gas imports in the first month of 2019 were roughly 60 percent higher than a year ago, data from gas pipeline operator Transgaz showed.

“It is a negative message for the business sector in general, and the result is a feeling of uncertainty and distrust,” ROPEPCA told Reuters.

“Major infrastructure and development projects, both on and offshore will most likely be suspended.”

In March, Transgaz shareholders rejected its 1.9 billion euro ($2.1 billion) investment program, which includes works on an EU-backed pipeline connecting Bulgaria, Romania, Hungary and Austria (BRUA) as well as a domestic pipeline to transport future offshore gas production.

A sore point for gas producers is the obligation to sell gas at 68 lei ($16) per megawatt hour until Feb. 2022, about 15 percent lower than the estimated average market price.

While only capping prices for some gas consumers takes some of the sting out of the measures, energy companies said enforcing it solely for producers but excluding distributors was discriminatory as they could pass on their costs to households.

“You can look after the vulnerable customer while at the same time not taking it at the cost of energy supply that you want on the market,” OMV Petrom’s Verchere has said.

(Reporting by Luiza Ilie in Bucharest and Kirsti Knolle in Vienna; additional reporting by Gary McWilliams in Houston; editing by David Clarke)

Source: OANN

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China’s central bank says will gradually set up rules to regulate fintech

Headquarters of the PBOC, the central bank, is pictured in Beijing
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

March 16, 2019

SHANGHAI (Reuters) – China’s central bank said on Saturday it will gradually set up a system of rules to regulate fintech, and will fully utilize the technology to optimize the flow of credit and reduce financing costs for businesses.

The People’s Bank of China (PBOC), in a statement on its website, also said it would enhance the application of new technologies in regulation, and improve the ability to prevent risks.

(Reporting by Samuel Shen and Josh Horwitz, editing by Richard Pullin)

Source: OANN

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Ukraine presidential candidate wants debate with drug tests

The debate about a presidential runoff debate in Ukraine is escalating.

Volodymyr Zelenskiy, the comic actor who easily beat President Petro Poroshenko in the first round, is proposing that a debate between the two before Ukraine's April 21 presidential runoff be moderated by the candidate who came in third place, former prime minister Yulia Tymoshenko.

Zelenskiy on Thursday said that Tymoshenko could guarantee an honest debate because she doesn't support either candidate.

Tymoshenko, however, has consistently denounced Poroshenko for failing to rein in corruption and has run against him for president twice.

Zelenskiy wants the debate to be held April 19 in Kiev's Olimpiskiy Stadium, the country's biggest arena and said both candidates should take drug tests. Poroshenko's campaign spokesman said the president will wait for Zelenskiy at the stadium Friday morning for the tests.

Source: Fox News World

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Euro zone budget tool to start with less resources than desired: Centeno

Eurogroup President Centeno attends a eurozone finance ministers meeting in Brussels
FILE PHOTO: Portugal's Finance Minister and Eurogroup President Mario Centeno attends a eurozone finance ministers meeting in Brussels, Belgium February 11, 2019. REUTERS/Francois Lenoir

March 25, 2019

LISBON (Reuters) – Eurogroup head Mario Centeno said on Monday that a new budget instrument to promote reforms and investment in the euro zone will start with less than hoped but will end up becoming a crucial tool for the bloc.

Describing it as a “new avenue of integration”, Centeno said the tool’s key strands will be defined by June this year, and it will then be framed in the EU’s budget.

“We will certainly start with resources below what some would like but I believe that, over time, this tool will become central to the euro zone, making it more cohesive, inclusive and attractive to the rest of the EU,” he told a conference.

The new EU budget tool will set aside funds to support reforms and convergence between economies and to help investments in countries facing temporary economic shocks.

(Reporting by Sérgio Gonçalves and Catarina Demony; Editing by Axel Bugge)

Source: OANN

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Daimler suspends Mercedes franchise in China after customer complaint goes viral

FILE PHOTO: A Mercedes Benz logo is pictured at a Mercedes Benz branch in Stuttgart
FILE PHOTO: A Mercedes Benz logo is pictured at a Mercedes Benz branch in Stuttgart, Germany, April 15, 2019. REUTERS/Ralph Orlowski/File Photo

April 16, 2019

BEIJING (Reuters) – Germany’s Daimler has suspended a local sales franchise for its Mercedes-Benz brand in China after a customer complaint about service from the dealership went viral on social media.

Daimler said in a statement on Tuesday that the dealership in Xi’an city in the northwestern province of Shaanxi had reached an agreement with the customer and was investigating its customer service and business operations, and had suspended the franchise in the meantime.

It made no further comment about the move, which came after a video emerged on Chinese social media showing an unhappy Chinese customer protesting at a dealership, and which also prompted a critical response from regulators.

In the video, the customer complained that a car she had recently bought was leaking oil and that she was subsequently treated poorly by the dealer, highlighting poor consumer rights in the world’s second largest economy.

She also said she had paid a “financial service fee” of 15,000 yuan ($2,235) to an employee at the dealership when she bought the car.

China’s banking and insurance regulator has asked Mercedes-Benz’s car finance unit to investigate its dealership arrangements, state media said on Tuesday.

Car dealers should not be allowed to collect so-called financial services fees and should make efforts to protect customers’ rights, China National Radio quoted Pang Xuefeng, an official from China’s Banking and Insurance Regulatory Commission, as saying.

(Reporting by Min Zhang and Sun Yilei in Beijing and Lee Chyen Yee in Singapore; Editing by David Holmes)

Source: OANN

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Three Things The DHS Needs To Do Right Now

Former Kansas Secretary of State Kris Kobach called Department of Homeland Security the "biggest impediment" President Trump has faced while trying to implement his immigration agenda in an interview with FOX News' Tucker Carlson on Monday. Kobach offered three things the DHS needs to do to fight back at the border, notably building FEMA camps at key border areas to house immigrants so they are not separated before they see a judge instead of sending them around the country.

"Let's ship the judges in and have the claims processed right there," Kobach said. "As soon as their claim is denied, put them on a passenger plane."

"Word will get out in the villages back home it doesn't work to get in these caravans anymore," he said. "You're not going to be released into the United States."

TUCKER CARLSON, FOX NEWS HOST: So if you are running DHS tomorrow, what would you do first?

KRIS KOBACH, FMR. KANSAS SECRETARY OF STATE: First 3 things I would do to address this current problem on the border is number 1, we would publish the final version of the regulation that settles the Flores settlement, it supersedes the Flores settlement. Basically, it is how the United States can detain an entire family unit together so you wouldn't have separation of families and detain them as long as necessary. That could be done tomorrow.

Second thing is, I would deploy the thousands of FEMA trailers either to border cities or to military bases in Texas and Arizona and set up processing centers. Instead of turning loose these bogus asylum applicants onto the American streets never to be seen again, let's put them into mobile homes. Let's process their claims. Let's ship the judges in. Have the claims processed right there. As soon as their claim is denied, put them on a passenger plane and fly them right back home. Word will get out in the villages back home it doesn't work to get in these caravans anymore. You're not going to be released into the United States.

The third thing that I would do is publish a regulation that tells Mexico in so many words, no, your illegal aliens in the United States can not send remittances home anymore, you can't wire things through Western Union. You could do that with a Treasury regulation. Tell Mexico, look, that regulation's going to take effect and become final unless you sign a Safe third country like we have with Canada so that any asylum applicant, when they safe country they step foot in, mainly Mexico they have to apply there for asylum. They can't walk all the way through Mexico and then say, 'Oh, we're applying for asylum in the United States.'

I'd do those three things right away, keep building the wall, and then there is about 50 other executive actions.

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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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