News 

Iranian companies are top priority in Syria’s reconstruction projects: envoy

“The ambassador stressed the need for providing facilities in order to further expand the economic cooperation between the two countries” reports tehrantimes.com. Also in January, the 14th preparatory meeting of Iran-Syria high joint technical committee of economic cooperation was held at Damascus.Speaking in a meeting between the representatives of Syrian private sector with the Iranian Minister of Industry, Mines and Trade Reza Rahmani along with officials of the Iranian cooperatives chamber, Mahmoud noted that the Iranian private sector is a key partner in reconstruction of Syria’s infrastructure.Amini had also said…

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News Regulators 

Basel Committee Warns Banks Against “Immature” Digital Assets

“The Basel Committee has issued a fresh warning to the banks against the risks associated with digital assets” writes Arnab Shome for financemagnates.com. Compared to the mainstream financial sector, the size of the digital asset industry is small and banks all over the globe also have a “very limited direct exposures” to the cryptocurrency sector.This is not the first warning issued by the committee as, last year, it criticized the digital assets for their lack of scalability. Source: financemagnates.com

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Markets News Stocks 

Marijuana sector trades higher after Aurora Cannabis hires Nelson Peltz

“Aurora stock trades under the ticker ACB on both the New York Stock Exchange and the Toronto Stock Exchange” reports etfdailynews.com. Aurora Cannabis announced Wednesday that it has appointed longtime activist investor Nelson Peltz as a strategic advisor.But Peltz will also prove a valuable addition to Aurora for his deep knowledge of the consumer goods industry, where he’s tended to focus his investments.The company added that it has granted Peltz options to purchase 19.96 million common Aurora shares at a price of 10.34 Canadian dollars ($7.74). Source: etfdailynews.com

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Nasdaq’s 2% late-afternoon rally puts index on the brink of best day in about 6 weeks

“BA, -5.33% fell 5.8%, cutting nearly 170-points from the price-weighted index, after a Boeing-made 737 Max 8 plane crashed on Sunday, resulting in 157 deaths” writes Mark Decambre for marketwatch.com. A popular exchange-traded fund used to bet on the tech sector, the Technology Select Sector SPDR ETF XLK, +2.15% was up 2.2%, also tracking its best daily climb since late January.More broadly, the S&P 500 index SPX, +1.25% was up 1.4% at 2,781, while the Dow Jones Industrial Average DJIA, +0.70% was gaining 0.7% at 25,624. Source: marketwatch.com

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Markets News Stocks 

Cronos weighs on cannabis sector as BMO becomes latest to downgrade stock

“That compares with rivals Aurora Cannabis Inc., trading at 40 times estimated EBTIDA and Tilray Inc., trading at 70 times estimated Ebitda” writes Ciara Linnane for marketwatch.com. Valens shares VGWCF, +16.47%  were up 6.8%, while TGOD TGODF, +2.98% TGOD, +2.58%  was up 2.7%.Shares of Canadian cannabis company Cronos Group Inc. fell in a rising market Monday, after BMO Capital Markets became the latest house to downgrade the stock that has gained more than 100% in the year to date.Cowen initiated coverage of the stock on March 5 with a market…

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News Oil Stocks 

Oil Stocks Slide as Crude Prices Slump

“Hence, it is more accurate to seel companies which explore and produce oil and gas, rather than selling a broadly diversified energy sector” writes Martin Baccardax for thestreet.com. Global oil prices plunged Friday, taking U.S. crude to a three week low, as investors reacted to a worrying slump in China exports, alongside slowing growth in Europe, that have raised serious questions over the health of the global economy.Norges Bank Investment Management had asked the Finance Ministry in late 2017 for permission to dump some of its oil and gas holdings…

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News 

Technical Analysis EU50: 2019-03-07

“The pace of private sector activities expansion in February was boosted due to the services sector expansion while manufacturing shrank for the first time since June of 2013” reports fxstreet.com. Latest euro-zone economic data were positive: retail sales in January rose more than expected, and private sector expansion accelerated more than forecast.Retail sales increase and private business sector expansion were better than expected in euro-zone.If the price meets the stop-loss level (3251.18) without reaching the order (3341.01) we recommend cancelling the order: the market sustains internal changes which were not…

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High rollers are staying away from the gambling capital of the world and it’s the latest sign that China is slowing down

“The bank says now is the time to reduce exposure to the Macau gaming sector” writes Finanzen Net Gmbh for businessinsider.com. Declining activity among high rollers and weaker than expected gaming numbers in Macau are further evidence that the slowdown in China is having an impact on the gambling capital of the world. Source: businessinsider.com

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Wall Street eyes third day of losses as healthcare sector weighs

“UnitedHealth Group, Amgen Inc and Pfizer Inc dropped between 1.2 percent and 2.8 percent and weighed on the healthcare sector” writes Midwest Communications Inc for 95kqds.com. The healthcare sector was the biggest drag on the benchmark index, falling 1.6 percent.(Reuters) – Wall Street’s three main indexes were on track to record their third session of losses as healthcare stocks fell and investors booked profits after a stellar run in equities this year. Source: 95kqds.com

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