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LORI LOUGHLIN COULD FACE PRISON TIME: Sanders to release tax records #MAGAFirstNews with @PeterBoykin

Barr forms 'team' to investigate the FBI's Russia investigators; Sanders to release tax records #MAGAFirstNews with @PeterBoykin BARR INVESTIGATING THE INVESTIGATORS: Attorney General William Barr has assembled a "team" to investigate the origins of the FBI's counterintelligence investigation into the Trump campaign, Fox News has learned ...Republicans repeatedly have called for a thorough investigation of the FBI's intelligence practices and the basis of the ... See More since-discredited Russian collusion narrative following the conclusion of Special Counsel Robert Mueller's probe. Meanwhile, Barr is expected to return to Capitol Hill Wednesday for the second of two days of hearings about the Justice Department's budget. However, like House lawmakers on Tuesday, members of the subpanel of the Senate Appropriations Committee are expected to focus on Barr's plan release a redacted version of the Mueller report. Barr said Tuesday a redacted version of the Mueller report would be made available "within a week." HOMELAND SECURITY SHAKEUP CONTINUES: President Trump's high-level overhaul of the Department of Homeland Security continued on Tuesday, with the announcement that DHS' acting deputy secretary is resigning amid a reported historic surge in illegal immigrants and asylum seekers at the border ... Claire Grady was technically the next in line to replace Kirstjen Nielsen, who resigned Sunday. But Trump chose Kevin McAleenan, the head of Customs and Border Protection, as acting secretary. Acting Defense Secretary Shanahan: China is America's biggest threat, and southern border situation an 'emergency' BERNIE SANDERS, SOCIALIST MILLIONAIRE: 2020 presidential candidate Sen. Bernie Sanders, I-Vt., has announced that he'll release 10 years of tax returns next Monday -- filings expected to show that the Democratic socialist made millions from book sales ... Sanders told the New York Times in an interview published on Tuesday that he hopes that his release will make President Trump more inclined to follow suit. LORI LOUGHLIN COULD FACE PRISON TIME: Actress Lori Loughlin and her fashion designer husband, Mossimo Giannulli, two of the 16 parents indicted on new fraud and money laundering charges in the college admissions cheating scandal, could face up to 40 years in prison—a maximum of 20 years for each of the charges, a report said ...  The "Fuller House" star and her husband, along with 14 other parents, are being charged with a "second superseding indictment with conspiring to commit fraud and money laundering," the Department of Justice revealed in a statement to Fox News on Tuesday. Last month, Loughlin and Giannulli were charged with conspiracy to commit mail fraud for allegedly paying $500,000 to get their daughters into the University of Southern California as crew recruits. (The young women did not play the sport.) NETANYAHU APPEARS HEADED TOWARD RE-ELECTION: Benjamin Netanyahu appeared to be headed toward a historic fifth term as Israel's prime minister on Wednesday, with close-to-complete unofficial election results giving his right-wing Likud and other nationalist and religious parties a solid majority in parliament ... The outcome affirmed Israel's continued tilt to the right and further dimmed hopes of a negotiated solution to the Israeli-Palestinian conflict. Re-election will also give Netanyahu an important boost as he braces for the likelihood of criminal charges in a series of corruption scandals. - The Associated Press

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The Latest: Praise for restraint in charging Closs abductor

The Latest on Wednesday's arraignment of the man suspected of kidnapping 13-year-old Jayme Closs, slaying her parents and holding her captive for 88 days (all times local):

4:35 p.m.

A Wisconsin legal expert is praising prosecutors' restraint in handling the case of abducted teenager Jayme Closs.

Thirteen-year-old Jayme was taken in October in an attack at her family's home in northwest Wisconsin that included the slaying of her parents.

Suspect Jake Patterson was charged only in the county where Jayme was abducted, and he pleaded guilty Wednesday to charges that could send him to prison for life.

Prosecutors in the county where Jayme was held for 88 days never filed charges, a move widely seen as aiming to spare Jayme's privacy.

University of Wisconsin law professor Cecelia Klingele praised that decision, saying it would have been unnecessary "piling on." She says people may be interested in salacious details, but there's no public right to know details of a crime victim's suffering.

___

1:20 p.m.

Attorneys for a Wisconsin man who admitted to abducting 13-year-old Jayme Closs and killing her parents say he wanted to plead guilty "from the day we met him."

Jake Patterson pleaded guilty Wednesday to two counts of intentional homicide and one count of kidnapping.

Attorney Richard Jones says Patterson rejected all options that defense attorneys presented him, including trying to suppress his statements to investigators in which he confessed.

Jones told Judge James Babler that Patterson "decided this is what he wants to do."

Patterson said in a letter from jail last month that he planned to plead guilty to spare Jayme and her family the ordeal of a trial.

Jayme Closs was held for 88 days in a cabin about an hour north of her home before she escaped in January.

___

1:05 p.m.

A Wisconsin man has pleaded guilty to kidnapping 13-year-old Jayme Closs and killing her parents.

Twenty-one-year-old Jake Patterson pleaded guilty Wednesday to two counts of intentional homicide and one count of kidnapping. A count of armed burglary was dropped. The intentional homicide counts carry a sentence of life in prison.

Patterson admitted to kidnapping Jayme after killing her parents, James and Denise Closs, at the family's home on Oct. 15. Patterson held her at a remote cabin for 88 days before she escaped in January. A criminal complaint says Patterson told authorities he decided to "take" Jayme after he saw her getting on a school bus near her home.

___

11 a.m.

Residents in a small Wisconsin town say they're hoping to see a guilty plea from the man accused in the kidnapping of 13-year-old Jayme Closs and slaying of her parents.

Jake Patterson faces arraignment Wednesday afternoon on charges of homicide and kidnapping. He wrote to a Minneapolis TV station that he intended to plead guilty, but his defense attorneys have not confirmed that.

John Terpstra is a church pastor in Barron. He says he hopes Patterson keeps his word so the Closs family doesn't have to go through a court case.

Retiree Kathy Wirth says she's sorry for what Jayme went through and still has to go through.

Jayme was held for 88 days in a cabin about an hour north of her family's home before she escaped in January.

___

12:01 a.m.

A man charged with kidnapping a 13-year-old Wisconsin girl and killing her parents is expected to enter a formal plea when he appears in court for an arraignment.

Twenty-one-year-old Jake Patterson wrote a letter to Minneapolis television station KARE saying he intends to plead guilty. His attorneys and prosecutors have not commented ahead of Wednesday's arraignment.

He's accused of killing James and Denise Closs and kidnapping their daughter, Jayme, on Oct. 15. Jayme was held for 88 days before escaping in January.

Patterson is charged with two counts of intentional homicide and one count each of kidnapping and armed burglary. He faces life in prison if convicted on the homicide counts.

___

Check out AP's complete coverage of Jayme Closs' abduction and her parents' deaths.

Source: Fox News National

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U.S. weekly jobless claims unexpectedly fall

File photo of a man looking at employment opportunities at a jobs center in San Francisco
FILE PHOTO: A man looks over employment opportunities at a jobs center in San Francisco, California, in this February 4, 2010 file photo. REUTERS/Robert Galbraith/Files

March 28, 2019

WASHINGTON (Reuters) – The number of Americans filing applications for unemployment benefits unexpectedly fell last week, suggesting labor market conditions remained solid, despite slowing job growth.

Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 211,000 for the week ended March 23, the Labor Department said on Thursday. Data for the prior week was revised to show 5,000 fewer applications received than previously reported.

Economists polled by Reuters had forecast claims rising to 225,000 in the latest week. The Labor Department said no states were estimated. The government revised the claims data and the so-called seasonal factors from 2014 through 2018. It also updated the seasonal factor for 2019.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 3,250 to 217,250 last week.

Job growth has slowed after last year’s robust gain. The pace, however, remains more than enough to keep up with growth in the working age population. The unemployment rate is currently at 3.8 percent. The moderation in job growth also reflecting a shortage of workers and softening economic growth as the stimulus from a $1.5 trillion tax cut package fades.

Thursday’s claims report showed the number of people receiving benefits after an initial week of aid rose 13,000 to 1.76 million for the week ended March 16. The four-week moving average of the so-called continuing claims fell 4,250 to 1.75 million.

The continuing claims data covered the survey week for March’s unemployment rate. The four-week average of continuing claims rose slightly between the February and March survey periods, suggesting little change in the unemployment rate.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Source: OANN

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Protests in Algeria against president's bid for 5th term

Demonstrators have taken to the streets in several Algerian towns to denounce President Abdelaziz Bouteflika's bid for a fifth term.

Security was tight Friday in the capital, Algiers, where hundreds of protesters headed to Martyrs Square in the city center.

The 81-year-old Bouteflika announced this month that he plans to seek a new term in April presidential elections despite serious questions over his fitness for office after a 2013 stroke left him largely infirm.

Other demonstrations have taken place in Oran, the country's second most important city, and in the northern towns of Akbou and Annaba.

Protesters are responding to anonymous calls on Algerian social media. Another demonstration is planned on Sunday in Algiers.

Source: Fox News World

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Crackdown: More ISIS Brides Stripped of Citizenship

The debates over how the UK should treat so-called “cubs of the caliphate” and their mothers, who fled to Syria to marry ISIS fighters but want to return back to Europe as the jihadists were curbed, has flared up over the case of one of such women – Londoner Shamima Begum who had her citizenship revoked.

Two more ISIS wives from the UK, sisters Reema (30) and Zara (28) Iqbal have had their passports revoked since marrying jihadists linked to murdering western hostages, The Sunday Times reports, citing legal sources. According to the outlet the young women are in separate camps Syria, where they fled after ISIS were curbed and squeezed from the occupied territories.

The Iqbals, whose parents are reportedly originally from Pakistan, left London for Syria in 2013 after they married suspected jihadists, who were linked the murder of western hostages, who were butchered on camera. The women have five boys, aged not older than 8, between them. The younger sister gave birth to two children in Syria, where she traveled already heavily pregnant with her second boy, while her older sister gave birth to children both in the UK and Syria.


Paul Joseph Watson urges Westerners not to make the same mistake again.

As the BBC reports, the Home Office refused to comment on individual cases, adding that decisions to strip citizenships were “evidence-based and not taken lightly.”

The news comes hot on the heels of the latest development in the case of 19-year-old Shamima Begum from London, whose story put Home Secretary Sajid Javid on the hot seat following media reports about the death of her baby son. Upon hearing the news, UK Shadow Home Secretary Diane Abbott slammed Sajid Javid for behaving “shamefully”, saying that he was responsible for the boy’s death.

(Photo by Scott Bobb / Wikimedia Commons)

The minister has not provided any comment since the boy’s death, he said prior to this news that he felt “nothing but sympathy” for “perfectly innocent” children born in the war zone.

Begum, currently staying at a refugee camp in Syria, has voiced a desire to come back to the United Kingdom, but the Home Office has been unwilling to authorise her return. The Home Office was ready to accept the boy while she was deprived of her citizenship, but the young woman did not want to be separated from her son until his death from pneumonia just three weeks after he was born.

Shamima Begum, who joined the ISIS terror group in Syria back in 2015, when she was aged 15. Her newborn son died of pneumonia, less than three weeks after his birth. Begum has previously lost two children. Her husband, a Dutch ISIS fighter called Yago Riedijk, is currently in a prison in Syria.


David Knight reminds the celebrators of International Women’s Day not to forget about Asia Bibi, a Christian woman in Pakistan who has been imprisoned for drinking from the community well water, which is blasphemy according to the majority Muslim people of her country.

Source: InfoWars

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Edwards scores 42 as Purdue ends Villanova’s reign

NCAA Basketball: NCAA Tournament-Second Round- Villanova vs Purdue
Mar 23, 2019; Hartford, CT, USA; Purdue Boilermakers guard Carsen Edwards (3) attempt a layup against the Villanova Wildcats during the second half of a game in the second round of the 2019 NCAA Tournament at XL Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports

March 24, 2019

Carsen Edwards recorded career highs with nine 3-pointers and 42 points as third-seeded Purdue eliminated defending champion Villanova on Saturday with an 87-61 victory in an NCAA Tournament South Region second-round game at Hartford, Conn.

Matt Haarms collected 18 points and nine rebounds and Ryan Cline added 12 points for the Boilermakers (25-9), who were 16 for 30 from 3-point range to advance to the Sweet 16 for the third straight year. Purdue will face the winner of Sunday’s contest between second-seeded Tennessee and No. 10 Iowa.

Eric Paschall scored 19 points and Phil Booth added 15 on 5-of-13 shooting from the field for the sixth-seeded Wildcats (26-10), who were denied in their bid for a third NCAA title in four years.

The Boilermakers made seven of their first 11 3-point attempts and finished 9 for 18 from beyond the arc to seize a 43-24 lead at intermission. Villanova, conversely, went 3 for 14 from deep in the first half.

Edwards, who had a team-high 26 points in a 61-48 win over 14th-seeded Old Dominion on Thursday, drained four 3-pointers before Saturday’s game was six minutes old to stake Purdue to an early 19-10 lead.

The Boilermakers kept their foot on the gas, as Edwards and Cline each drilled another 3-pointer and Haarms’ emphatic dunk capped a 14-2 run to give Purdue a 41-22 lead with 1:25 left in the first half.

Edwards continued his torrid stretch by sinking an uncontested 3-pointer and working the baseline to set up a reverse layup to begin the second half. Cline drained two more 3-pointers and Edwards drilled his seventh shot from beyond the arc to highlight a 16-0 run and give Purdue a 59-24 lead just 5:37 into the second half.

Jermaine Samuels and Booth made 3-pointers on consecutive possessions to chip into the sizable deficit, but Edwards stopped the momentum with a three-point play.

Paschall ignited a 10-0 run for Villanova, but the deficit proved too great and the Boilermakers began making free throws. Edwards ended any doubt with his eighth 3-pointer to give Purdue a 71-42 lead with 6:35 to play.

–Field Level Media

Source: OANN

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Biden’s Senate record, advocacy of 1994 crime bill will be used against him, ex-Sanders staffer says

Former Vice President Joe Biden will face scrutiny over his record in the U.S. Congress and particularly his strong advocacy for the 1994 crime bill, says Independent voter and former Bernie Sanders staffer Tezlyn Figaro.

“I grew up in the 1990s. And my entire adult generation, those around me, really suffered a major consequence with that bill,” Figaro said on “Fox and Friends” Thursday, just minutes after Biden announced his candidacy for president.

“First time nonviolent offenders who went to prison for 15, 16, 17 years. People are still in prison right now as a result of that crime bill,” she added, noting that while the former Veep somewhat apologized for his support of the bill, he hasn’t spoken about how that will be fixed.

JOE BIDEN ANNOUNCES 2020 PRESIDENTIAL BID: 3 THINGS TO KNOW ABOUT THE FORMER VICE PRESIDENT

“I appreciate Joe Biden has atoned and said that he regrets the consequences of that bill. But the issue is we haven't seen anything to talk about how we are going to fix it. I want to talk about the policies. What are you going to do as president to fix what happened in the 1990s with that bill,” she said.

“But the issue is we haven't seen anything to talk about how we are going to fix it. I want to talk about the policies. What are you going to do as president to fix what happened in the 1990s with that bill.”

— Tezlyn Figaro

Figaro also said that Biden’s campaign launch, which featured footage from the deadly 2017 rally in Charlottesville, appeals to the emotions but detracts from the debate about policies.

“A lot of people are upset about Charlottesville, it’s an emotional trigger race right now,” Figaro said. “Certainly emotional trigger that the left is talking about and, again, it's moving us away from actually talking about policy and actually looking at these things a little bit closer.”

“We didn't have a chance to adjudicate these issues when Joe Biden was the vice president. Bottom line they let it slide in 2008 and 2012. It was all about Uncle Joe helping out Barack Obama. No one really looked at his record,” she added.

BIDEN'S SENATE RECORDS HELD BY HIS ALMA MATER WON'T BE RELEASED UNTIL LATE 2019, POSSIBLY EVEN LATER

“The good thing about having so many candidates run, we actually will be forced to adjudicate the issues. Look at it a little bit closer and I think he is going to have a lot of criticism. Nice guy, but a lot of criticism.”

Figaro concluded that Biden’s centrist credentials are likely to make him appear more authentic than many other candidates who are currently following the lead of Sanders and pushing the party further to the left, without taking into account if such policies would be competitive against President Trump in the general election.

“It is important to have somebody who is center. I think everyone can't follow Bernie Sanders' lead, which clearly they are all doing. Some are just pretending to be progressives on TV. I think that's a bad thing. It's not authentic and doesn't match up to the resumes,” she said.

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“As far as the energy of the party, yeah, they are moving left. But is that going to be what is going to beat Donald Trump? That's an entirely different question, for right now everybody is left and everybody is Bernie Sanders and I don't know if that will work in a general election.”

Source: Fox News Politics

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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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