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Tag: September

Airbus deliveries reach monthly high in September but sales stay subdued

October 10, 2020
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So far this year, Airbus has sold 379 planes or a net total of 300 after cancellations. Photo: Getty
So far this year, Airbus has sold 379 planes or a net total of 300 after cancellations. Photo: Getty

Airbus (AIR.PA) reached the highest number of monthly deliveries in September, although order activity remained quiet as COVID-19 continues to hammer the aviation sector.

It delivered 57 jets in September this year, up from 39 in August and exceeding the 55 achieved in February 2020, just before the onset of the airline crisis.

The European planemaker made 341 deliveries over the last nine months including 18 A220s, 282 A320 Family, 9 A330s and 32 A350s. This figure was down 40% from the 571 deliveries the same period last year, with the fall in output triggered by the pandemic.

A significant number of planes were delivered from a parked backlog. Its backlog stands at 7,441 aircraft compared to 7,133 at the same point in 2019.

The only order change registered was the

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Airbus ramps up deliveries in September, seen targeting 500 jets in 2020

October 9, 2020
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By Tim Hepher

PARIS, Oct 9 (Reuters) – Airbus AIR.PA reached the highest number of monthly deliveries of passenger planes so far this year in September, but logged no new sales as crisis-hit airlines continue to bleed cash.

The European planemaker delivered 57 jets in September, up from 39 in August, bringing nine-month deliveries to 341, down 40% from the same period of 2019, company data showed on Friday.

The drop matches a 40% output fall triggered by the coronavirus crisis, with Airbus deciding last month to maintain the new rates unchanged. A significant number of jets were delivered from a parked backlog.

Airbus axed guidance at the outset of the pandemic but is internally targeting around 500 deliveries in 2020 and is three quarters of the way towards its goal, industry sources said.

It delivered a record annual total of 863 jets in 2019.

Jet markets are moribund

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Canada added 378,000 mostly full-time jobs in September as COVID-19 case spike

October 9, 2020
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(Getty Images)
(Getty Images)

Canada’s COVID-19 ravaged economy created 378,000 jobs in September, even as COVID-19 cases surged.

The bulk of them, 334,000, were full-time positions, according to Statistics Canada.

“The surprising advance was also heavily tilted toward the hard-hit services sector (+303K), particularly accommodation and food services, education, and information, culture and recreation, each of which had seen a significant impact from COVID-19,” said CIBC Economist Royce Mendes.

The strong month brings the unemployment rate down to 9 per cent from 10.2 per cent. It also brings the job market to within 720,000 jobs of its February pre-pandemic level.

The number of Canadians who were employed but worked less than half their usual hours due to the pandemic fell by 108,000. Of those who are still working their usual number of hours, work from home fell to 25.6 per cent from 26.4 per cent

Employment among core-aged women (25 to 54

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Tradeweb Government Bond Update – September 2020

October 8, 2020
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August’s government debt sell-off proved to be short-lived. Amid a flurry of central bank and economic news, 10-year government bond yields fell in September, with some pushed further into negative territory.

Italy’s 10-year bond mid-yield saw the largest decline, plunging 26 basis points to finish the month at 0.82%. Yields on Portugal and Spain’s benchmark notes also posted significant drops, decreasing by 15 basis points to 0.26% and 0.25%, respectively. While Portuguese Finance Minister Joao Leao said the economy was recovering better than expected, the European Commission still predicts a GDP contraction of 9.8% this year. Similarly, Spain’s GDP is expected to contract by 10.9% this year, however, the country’s Economy Minister Nadia Calvino forecasted an expansion of more than 10% in the third quarter.

Meanwhile, the German 10-year Bund yield fell by nearly 12.5 basis points to close at -0.53%. Data from Germany’s Federal Statistical Office showed that consumer

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Why These Oil and Gas Companies Got Clobbered in September

October 8, 2020
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What happened

Shares of top oil and gas companies Parsley Energy (NYSE: PE), Kinder Morgan (NYSE: KMI), and Phillips 66 (NYSE: PSX) tumbled more than 10% in September, according to data provided by S&P Global Market Intelligence. That was much worse than the S&P 500, which only slipped 3.9% during the month.

Reflecting broad underperformance across the industry, shares of Permian Basin driller Parsley Energy plunged 12.9% during the month, while big natural gas pipeline operator Kinder Morgan’s shares fell 10.8%, and refiner and gas station operator Phillips 66 saw its shares drop 11.3%. For the year, shares of all three companies are down between 40.5% (Kinder Morgan) and 53.4% (Phillips 66).

A man makes a face as a fist punches him in the cheek.

Image source: Getty Images.

So what

The oil industry has had a lot to contend with in 2020. While September didn’t see the massive swings in oil and gas prices that rocked the sector earlier

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Dividend Stock Purchase: Lanny’s September 2020 Summary

October 8, 2020
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Welcome back to another month of Dividend Stock Purchases! The last 3 months have been heavy on our investment front. Now the question that the community is wondering – was I able to keep the dividend stock purchase pace up? The journey to financial freedom does not take breaks and one must continue to persevere through uncertainty, put cash to work and push that forward dividend income forward. September was no different, time to dive in!

Dividend stock purchase and dividend income: Path to financial freedom

Investing consistently in Dividend Income Stocks allows you to create & build another income source. Dividend Income is our primary vehicle on the road to Financial Freedom, which you can see through my Dividend Portfolio, which continues to build and build. Further, I have written about every stock purchase and month of dividend income since we started this site, plenty of dividend history

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Why These 3 High-Yielding Pipeline Stocks Tumbled in September

October 8, 2020
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What happened

Three master limited partnerships (MLPs) with double-digit yields — Magellan Midstream Partners (NYSE: MMP), Plains All American Pipeline (NYSE: PAA), and MPLX (NYSE: MPLX) — suffered double-digit price declines in September, according to data provided by S&P Global Market Intelligence.

The companies’ unit prices (the MLP version of share prices) lost out to the S&P 500, which only slipped 3.9% for the month. Meanwhile, Magellan’s unit price fell by 10%, MPLX’s was down 13.8%, and Plains’ dropped 15.5%. The year-to-date picture is even worse, with MPLX’s shares down more than 35% so far in 2020, while Magellan’s have fallen 44% and Plains’ a jaw-dropping 68.5% this year. 

An oil pipeline covered with icicles in a snowy landscape.

Image source: Getty Images.

So what

The three companies operate North American pipeline and storage-terminal networks for crude oil and other products. But within that universe, the companies are differentiated by what they transport and where it goes.

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Ohio casinos, racinos continue hot streak post-coronavirus closings with a September record

October 7, 2020
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CLEVELAND, Ohio – Ohio’s casino and racino industry continued its hot streak in September with its third consecutive month of record gambling revenue, after reopening from months of state-ordered closings over coronavirus concerns.

Revenue in last month- the money kept by the house after paying out winnings – totaled a September record $164.5 million, up 6.1% from September a year ago, following monthly records in August and July.

For the year, however, revenue of just over $1 billion is down 30.8% from nearly $1.5 billion during the first nine months of 2019, a direct result of closings from mid-March through mid-June. Records have been set each month of full operation this year.

About a third of this money, or close to $335 million for gambling year-to-date, will be turned over the state in the form of taxes or fees.

Topping all Ohio operations in September was MGM Northfield Park with

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Eurozone Economic Rebound Stalls In September Amid Renewed Fall In Service Sector Activity

October 6, 2020
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The eurozone’s economic recovery ground almost to a halt in September, as a renewed fall in service sector activity countered faster manufacturing growth.

The IHS Markit Composite PMI output index, a GDP-weighted average of the manufacturing and service sector survey gauges, fell from 51.9 in August to 50.4, signalling only a mild increase in business activity.

While the survey continues to indicate that the economy rebounded strongly over the third quarter as a whole, thanks to a strong surge at the start of the quarter (after business activity contracted sharply during the height of the Covid-19 pandemic in the second quarter), the rebound lost almost all of its momentum as the third quarter progressed. As such, the survey indicates an increased risk of the economy sliding back into contraction in the fourth quarter.

Spain suffers greatest hit, only Germany shows resilient recovery

A downturn in service sector activity during September

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US Service Sector Gathers Pace in September: 4 Fund Winners

October 6, 2020
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On Sep 5, the Institute for Supply Management (ISM) reported that its index for activity among non-manufacturing companies rose to 57.8% in September from 56.9% the month before. A reading above 50 indicates growth in the service sector, which accounts for nearly 90% of the U.S. economy. September’s figure points to the fact that the sector grew at an unexpectedly faster rate. In fact, the ISM non-manufacturing index now stands above its pre-pandemic level of 57.3% in February and marked growth for the fourth straight month in September.

The report highlights that September’s uptick was due to a surge in new orders, as the sub-index jumped to 61.5% from 56.8% in August. The survey highlighted comments from respondents who stated that new orders grew significantly as business activity resumed and as retail activity picked up. Moreover, increase in demand as businesses reopen and more people driving also let to the

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