USD Rises Against a Variety of Currencies, Zurich Insurance Ends Takeover Talks With RSA
September 21, 2015 6:01 am
US Stocks closed in negative territory on Friday, with the Fed’s decision to not raise interest rates bringing Global growth concerns back into the spotlight, as well as some consideration of the impact that keeping interest rates as they are may have on US corporate earnings. The Dow finished Friday’s session 289 points lower at 16,384. The S&P500 lost 32 points to close at 1,958.
The Euro dipped to $1.1285, having dropped from Friday’s peak of $1.1460. Against the Yen, the Dollar rose to 120.08 moving up from a trough of around 119.04. The Dollar’s bounce back was hefty, knocking Sterling back to $1.5522 from a three-week high of $1.5659. Commodity currencies were not spared, with the Australian dollar dropping below 72 U.S. cents once again, from a high of $0.7280.
U.S. crude futures were up 0.4 percent at $44.85. Brent futures also rose 0.3 percent to $47.63. Spot gold was trading around $1138 per troy ounce.
Within the equity space, RSA Insurance has announced that Zurich Insurance has terminated discussions with the London-listed insurer regarding a possible offer. Zurich, which issued third-quarter results on Monday, said in a statement that it has terminated talks with RSA due to the recent deterioration in the trading performance of its general insurance business. “The group’s focus instead will be on taking the necessary actions to deliver on the required performance of the General Insurance business,” it said. RSA stock is down 21% in early trade at 398p per share.
US Stocks closed in negative territory on Friday, with the Fed’s decision to not raise interest rates bringing Global growth concerns back into the spotlight, as well as some consideration of the impact that keeping interest rates as they are may have on US corporate earnings. The Dow finished Friday’s session 289 points lower at 16,384. The S&P500 lost 32 points to close at 1,958.
The Euro dipped to $1.1285, having dropped from Friday’s peak of $1.1460. Against the Yen, the Dollar rose to 120.08 moving up from a trough of around 119.04. The Dollar’s bounce back was hefty, knocking Sterling back to $1.5522 from a three-week high of $1.5659. Commodity currencies were not spared, with the Australian dollar dropping below 72 U.S. cents once again, from a high of $0.7280.
U.S. crude futures were up 0.4 percent at $44.85. Brent futures also rose 0.3 percent to $47.63. Spot gold was trading around $1138 per troy ounce.
Within the equity space, RSA Insurance has announced that Zurich Insurance has terminated discussions with the London-listed insurer regarding a possible offer. Zurich, which issued third-quarter results on Monday, said in a statement that it has terminated talks with RSA due to the recent deterioration in the trading performance of its general insurance business. “The group’s focus instead will be on taking the necessary actions to deliver on the required performance of the General Insurance business,” it said. RSA stock is down 21% in early trade at 398p per share.
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