EUR/USD moves back toward parity, ending the week down more than 3%

Investing.com - Investing.com -- The U.S. dollar resumed its steady ascent against the euro on Friday, amid optimistic economic data as the pair continued its move back toward parity.

EUR/USD dove 0.0059 or 0.55% to slip under 1.06 at 1.059 – its lowest level since Mar. 18. On that date, the pair gained more than 2% after relatively dovish comments from Federal Reserve chair Janet Yellen on slow GDP and wage growth fueled speculation that a looming interest-rate hike could be delayed.

EUR/USD plunged to a daily-low of 1.0568 in European afternoon trading before paring some of its losses during the U.S. morning trading session.

The pair likely gained support at 1.05, the low on Mar. 13 and resistance at $1.12, the high from Mar. 2. Earlier this week, the euro moved above 1.10 against the dollar for the first time since Mar. 25 following a disappointing U.S. monthly jobs report for the month of March.

It has declined sharply since then and finished the week down more than 3.4% down against its U.S. counterpart. For the year as a whole, the pair is down roughly 12% as the start of a €60 million a month quantitative easing program coincided with expectations that the Fed appeared ready to raise rates.

Although Yellen's comments last month may have slowed the dollar's appreciation, many analysts believe that parity is inevitable. Last month, analysts from Goldman Sachs (NYSE:GS) said they expect the euro to reach $0.95 against the dollar by March, 2016 and to continue downward to $0.80 by the end of 2017.

The U.S. Bureau of Labor Statistics (BLS) said on Friday that U.S. import prices fell 0.3% in March, marking the eighth consecutive monthly decline. More critically, prices for domestic imports fell 10.5% on a year-over-year basis from March, 2014, representing the steepest decline since 2009.

A stronger dollar is considered to be a key factor in pulling down import prices. The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, ticked upward 0.43% on Friday to 99.68. The index is approximately 20% higher since last year at this time.

Next week, investors will await the release of the BLS' Consumer Price Index for the month of February on Friday. In January, the CPI-U for All Urban Consumers fell by 0.7% on a seasonally-adjusted basis and 0.1% over the last year, marking the first 12-month negative change since October, 2009. The CPI is the most widely used monthly indicator of inflation. Other key reports on U.S manufacturing and industrial production will be released early next week.

Also, the European Central Bank is expected to make key rate and monetary policy decisions at a Governing Council meeting on Wednesday. ECB president Mario Draghi is expected to make his first public comments on the euro zone's bond buying program at a press conference following the meeting.

Yields on U.S. 10-Year Treasuries fell slightly by 0.009 to 1.949, while yields on German 10-Year bunds ticked down 0.01 to 0.16.

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Crude oil futures rise amid sharpest U.S. rig reduction in four weeks

Investing.com - Investing.com -- Crude oil futures rose modestly on Friday, amid the sharpest rig reduction in the U.S. over the last four weeks.

After two consecutive weeks of minimal declines, oil services firm Baker Hughes (NYSE:BHI) said in its weekly report that the number of oil rigs nationwide declined by 42 to 760 rigs last week, its lowest weekly total since December, 2010. Oil and gas rigs dropped by a combined total of 40 on the week to 988, it lowest combined total since August, 2009.

Since last fall, oil rigs have been closing at an alarming rate. Rig use in the U.S. is down by more than 50% since exceeding a level of 1,600 last October. Rig counts have now declined for 18 straight weeks, marking the fastest decline in the U.S. in more than 25 years.

WTI crude for May delivery moved up roughly 30 cents to $51.85 following the report, building on minor gains earlier in the session. At the close, WTI crude dropped slightly to $51.70, up 0.91 or 1.79%. Crude futures fell to a daily-low of $50.11 in European afternoon trading, before steadily increasing in U.S. morning trading.

Energy traders are keeping a close eye on supply levels, after the U.S. Energy Information Administration reported that that U.S. crude oil storage increased by 10.95 million barrels for the week that ended April 3. The increase represented the largest weekly buildup for WTI crude nationwide since 2001. In addition, the massive buildup pushed U.S. crude stockpiles to 482.4 million barrels, the highest level in more than 80 years.

While rig counts in the U.S. have been declining exponentially, oil is still being pumped at one of its fastest rates in 30 years.

On the Intercontinental Exchange (ICE), brent crude for May delivery gained 1.34 or 2.37% to close at $57.91 a barrel. The spread between international and U.S. domestic benchmarks stood at $6.21, up from $5.74 on Thursday.

High geopolitical risk throughout the Persian Gulf has weighed on crude over the last two weeks. On April 2, crude prices plunged after Iran reached the framework of a deal with Western powers regarding its nuclear program. The preliminary accord resulted in the easing of economic and financial sanctions levied by the U.S. and the European Union that have limited Iranian exports to approximately a million barrels of crude oil per day since 2012.

On Thursday, Ayatollah Ali Khamenei, Iran's supreme leader, took a hard line against sanctions, asserting in an address in Theran that the restrictions "should be lifted all together on the same day of the agreement, not six months or one year later." The White House and its Western partners have been in favor of gradual easing of sanctions.

The release of a surfeit of Iranian oil into a global market that is already beset by a glut of supply has exacerbated concerns of a further decline in prices. Crude futures are down by more than 50% since last July.

Elsewhere, a large supply of Nigerian oil is expected to head to Europe following weak demand for West African light sweet crude in Asia over the last several months, Platts reported. Nigeria is the largest oil producer in Africa, according to the EIA.

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EUR/USD slips below 1.07 in spite of Greek repayment to IMF

Investing.com - Investing.com -- Although Greece fulfilled an obligation to repay a EUR 450 million loan to the International Monetary Fund on Thursday, the euro continued its descent against the dollar as IMF head Christine Lagarde sidestepped questions on whether she believes Athens will default on its next series of payments.

EUR/USD fell 0.0117 or more than 1% in U.S. afternoon trading to slip under 1.07 at 1.0664. The pair reached a session high of 1.0790 in European morning trading, before falling steadily throughout the session.

On Monday, EUR/USD moved above 1.10 following a disappointing U.S. monthly jobs report.

Speaking with CNBC on Thursday afternoon, Lagarde did not say definitively if she thinks Greece will default on a repayment of more than EUR 769 early next month. The loan is due to the international financial organization on May 11, as part of its first bailout program for Greece in 2010.

Greece is continuing talks with its troika of creditors, the IMF, the European Central Bank (ECB) and the European Commission in an effort to receive a stimulus package that could help the beleaguered European nation stave off bankruptcy.

"I think what really matters is for the Greek authorities and the three institutions to get to work and to really see together how we can identify the measures we will take to get Greece out of the bad economic situation it could be in if those measures are not taken," Lagarde told CNBC. "At the end of the day it's about making sure Greece has full sovereignty over its economic fate."

While Lagarde warned against the consequences of a potential Greek departure from the European Union, she reiterated that the area is better shape to guard against a default than it was during the IMF's initial bailout.

"I think it would be a terrible situation for the Greek people, equally I think that the firewalls, the banking union and the strengthened fiscal union have put the euro zone in a much stronger position than where it was four years ago."

GBP/USD dropped 0.0154 or 1.04% to 1.4713, following optimistic employment data in the U.S. In a weekly report, the U.S. Department of Labor said initial claims for state unemployment benefits increased by 14,000 last week to a seasonally-adjusted amount of 281,000 for the week ending April 4. The four-week moving average, which is viewed as a more accurate approximation of labor market trends, dropped 3,000 to 282,250 last week, the lowest level since June, 2000.

Also on Thursday, the Bloomberg Consumer Comfort Index rose from 46.2 to 47.9 last week, the highest level since May, 2007.

The pair was able to pare some losses on Thursday, after the Bank of England decided to keep its benchmark interest rate unchanged at 0.50%. The rate has remained at its current record-low since March, 2009.

Elsewhere, there was soft demand at Thursday's $13 billion U.S. 30-Year note auction. Yields on U.S. 30-year Treasuries rose 0.078 to 2.598, while yields on U.S. 10-Year Treasuries gained 0.068 to 1.963.

Yields on the German 10-Year bunds stood firm at 0.16.

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Shares in medical device maker AngioDynamics plummet after poor earnings

Investing.com - Investing.com -- Shares in medical device maker AngioDynamics Inc. (NASDAQ:ANGO) plunged more than 8% in after-hours trading after the Upstate New York company missed estimates for the quarter and trimmed its outlook.

AngioDynamics, a leading provider of minimally invasive medical devices to help treat vascular disease and oncology, posted sales of $46.2 million in the third quarter, down by approximately 2% on a year-over-year basis from the same period in 2014. The company reported declining sales in both its peripheral vascular and vascular access divisions.

AngioDynamics also attributed the poor sales figures partly to struggles with its Morpheus PICC catheter, which it decided to discontinue.

"We delivered mixed financial results in the fiscal 2015 third quarter," said Joseph M. DeVivo, President and Chief Executive Officer in a statement. "Facing an extremely difficult operating environment, coupled with a decision to withdraw from the market our Morpheus PICC product line, we delivered at the low end of our expectations, excluding currency effects. Otherwise our team continues to execute well, driving more of our top line to higher growth thanks to our focus on innovative products that improve patient outcomes and reduce overall healthcare costs."

Separately, the company announced on Thursday a licensing agreement with Minneapolis-based EmboMedics Inc., which is reputed for its development of injectable microspheres in interventional radiology. The agreement will help AngioDynamics re-enter the $150 global embolic market, the company said in a statement.

Still, the disappointing quarterly earnings prompted the company to lower its fourth quarter earnings estimates from 19 cents a share to 13 to 16 cents on revenues in between $90 and $94 million. AngioDynamics initially projected earnings of $96.9 million for the quarter.

Shares in AngioDynamics rebounded slightly to 17.29 on Thursday evening, but were still down 0.96 or 5.26%.

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Stocks on U.S. equities markets edge up following Shell-BG merger

Investing.com - Investing.com -- Stocks on the U.S. equities markets edged up on Wednesday as traders reacted to the third largest oil and gas merger ever, even as plunging crude prices weighed on the energy sector.

Hoping to challenge Exxon Mobil Corporation (NYSE:XOM) for dominance of the global oil markets, Royal Dutch Shell (LONDON:RDSa) plc. announced a $70 billion mega-merger with smaller rival BG on Wednesday. By 2018, the new company is expected to produce more oil and gas than ExxonMobil, Reuters reported, according to a forecast by analysts from Jeffries. Both Shell and ExxonMobil have intermittently considered acquiring BG over the last decade.

On the New York Stock Exchange, Shell fell 2.09 or 3.37% to 59.83, while BG Group (LONDON:BG) Plc (OTC:BRGYY) gained 3.69 or 27.17% to 17.27.

In reaction to the merger, the Dow Jones Industrial Average gained less than 0.20% to remain in the green for the year, while the NASDAQ Composite index and the S&P 500 Composite index also posted modest gains to rally from Tuesday's minor sell-off. Stocks were choppy in afternoon trading, following the release of the Federal Reserve's minutes from the Federal Open Market Committee's March meeting but still remained in positive territory for the day.

The Dow gained 27.09 points to close at 17,902.51 on Wednesday, while the NASDAQ gained 40.59 or 0.83% to end the session at 4,950.82.

Led by gains in the Health Care, Consumer Goods and Financial sectors, the S&P 500 gained 5.57 or 0.27% to 2,081.90. While seven of 10 sectors closed in the green, stocks in the Energy, Telecommunications and Utilities sectors lagged.

On the Dow, the merger prompted a mild sell-off among Shell's top competitors. ExxonMobil and Chevron Corporation (NYSE:CVX) finished as the worst performers on the index, as shares in both companies each fell by more than 1.5%. ExxonMobil lost 1.59 to close at 84.16, while Chevron dropped 1.77 points to end the session at 106.77. The top performer on the Dow was Nike Inc (NYSE:NKE), which gained 1.13% to 100.74.

The biggest gainer on the NASDAQ was Mylan (NASDAQ:MYL) N.V., after the West Virginia-based pharmaceutical company announced a proposal to acquire Dublin-based Perrigo Co (NYSE:PRGO). for $205 a share. Perrigo, which was the top performer on the S&P 500, soared more than 28% in mid-day trading before settling at 195.00 (up 18.39%). Mylan closed at 68.36 a share, up 8.79 or 14.76%.

The worst performer on the NASDAQ was VimpelCom (NASDAQ:VIP),which fell 0.16 or 2.73% to 5.71. The worst performer on the S&P 500 was Ensco, which dropped 0.78 points or 3.32% to close at 22.73.

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Shares in Alcoa Inc. fall in spite of strong first quarter earnings

Shares in Alcoa Inc. fall in spite of strong first quarter earnings

Investing.com - Investing.com -- Shares in Alcoa (NYSE:AA), Inc. fell more than 3% in after-hours trading after the aluminum giant slightly failed to reach projections with its first quarter earnings that were released on Wednesday.

Alcoa, the world's third-largest producer of aluminum, posted quarterly revenues of $5.82 billion, just below a $5.94 billion projection from analysts surveyed by Fact Sheet.

Bolstered by growth in its aerospace and automotive divisions, Alcoa increased its first quarter revenues by 7% on a year-over-year basis. The New York-based company which was founded in Pittsburgh in 1888, also reported net income of $195 million or 0.14 a share.

Alcoa attributed the earnings to the completion of a $204 million acquisition of TITAL, which it expects will expand the company's sale of titanium and aluminum structural castings for aerospace in Europe, as well as its plans to acquire RTI International Metals, which it says will further grow titanium offerings.

'First quarter results show our transformation is moving at ongoing high speed and is fully on course,' said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer. 'We are organically and inorganically broadening our innovative, multi-material value-add businesses, bringing new capabilities and materials to our aerospace and automotive offerings, and taking swift action in the upstream, making it more competitive. We are pulling on all levers to create sustainable shareholder value.'

Shares in Alcoa in after-hours trading dropped 0.44 or 3.15% to 13.24.

Aluminum prices on the London Metal Exchange averaged around $1,800 per ton in the first quarter, up from approximately $1,700 a ton over the first three months of 2014.

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Marsons appoints Ananchaperumal Pillai Subramonia Pillai as Compliance Officer

Marsons has informed that Mr. Ananchaperumal Pillai Subramonia Pillai has been appointed as Compliance Officer of the Company with effect from March 18, 2015.

Marsons Ltd has informed BSE that Mr. Ananchaperumal Pillai Subramonia Pillai has been appointed as Compliance Officer of the Company with effect from March 18, 2015.Source : BSE

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U.S. dollar continues rally against euro, amid possible rate hike delay

Investing.com - Investing.com -- The U.S. dollar rallied by more than 1% against the euro on Tuesday, amid weaker than expected services data in the euro zone and expectations for a delayed interest rate hike by the Federal Reserve.

EUR/USD fell 0.0116 or 1.06% in U.S. afternoon trading to 1.0807, moving steadily lower from a daily-high of 1.0956 in European morning trading. European markets reopened on Tuesday after a four-day weekend for the Easter holiday.

The pair likely gained support at a low of 1.05 from March 11 and resistance at 1.11, the high from Mar. 4. On Monday, EUR/USD moved above 1.10 for the first time since Mar. 25, before falling back to 1.094.

While the Markit Eurozone Services Business Activity Index increased from 53.7 in February to 54.2 in March, expansion in output still fell below previous estimates of a 54.3 reading. Increases in Germany, Italy and Spain accelerated growth while the United Kingdom's service-sector PMI peaked at 58.9, to reach a multi-month high.

Price discounting throughout the euro zone drove growth on the continent.

'The PMIs are indicating somewhat sluggish GDP growth of 0.3% for the first quarter.," said Chris Williamson, Chief Economist at Markit. "However, the important message from the survey data is that the pace of expansion looks set to gather pace in coming months.

Meanwhile, in the U.S. Federal Reserve Bank of Minneapolis president Narayana Kocherlakota said at a speech on Tuesday that the Fed may not need to raise its benchmark Federal Funds Rate until the second half of 2016.

"In light of the outlook for unduly low employment and unduly low inflation, the Fed can be both late and slow in reducing the level of monetary accommodation," Kocherlakota said in a speech to the Chamber of Commerce in Bismarck, N.D.

The comments came in light of a disappointing U.S. jobs report last Friday when the U.S. Bureau of Labor Statistics said in its monthly jobs report that the economy added 126,000 in March, halting a streak of 12 consecutive months of job growth that exceeded 200,000. The modest job increases nationwide marked the weakest period of hiring in 15 months. In terms of average weekly earnings, employees nationwide received the smallest annual gains in wages since last June.

The labor force participation rate, which measures the number of people who are either employed or actively looking for work, also painted a bleak outlook. During the month of March, the rate ticked down to 62.7%, the lowest level in 36 years.

In mid-March, Federal Reserve chair Janet Yellen indicated that the Fed could begin raising interest rates when it was "reasonably confident" that inflation will move toward its target inflation of 2%. Yellen added that the Fed will take a "data-driven" approach to potential liftoff by keeping a close eye on wage and GDP growth before raising rates.

Yields on the U.S. 2-year, meanwhile, have ticked up to 0.520, after reaching a two-month low at 0.47 late last week. At Tuesday's 3-year note auction of U.S. Treasuries, yields stood at 0.865% with average demand of $24 billion. Many analysts believe the lower yields reduce the possibility that the Federal Reserve could increase rates by June.

The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, edged up on Tuesday by 0.95 points to 98.16

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Stocks in U.S. equities markets soar amid speculation of rate hike delay

Investing.com - Investing.com -- Stocks on the U.S. equities markets moved broadly higher on Monday, rallying after an early sell-off in response to Friday's disappointing jobs report.

The Dow Jones Industrial Average soared 117.61 points or 0.66% to 17,880.85, while the NASDAQ Composite Index and the S&P 500 Composite Index each rose by more than 0.5%. U.S. markets were closed on Friday for the Easter holiday after the U.S. Bureau of Labor Statistics released its monthly report.

The economy added 126,000 jobs in March, ending a streak of 12 straight months of job growth exceeding 200,000. The soft data has fueled speculation that the Federal Reserve could delay lift-off for raising interest rates from June to possibly September or December. In addition, dovish comments from Federal Reserve Bank of New York president William Dudley regarding the Fed's data driven approach for raising rates spurred the early-day rally.

Led by gains in the Oil & Gas, Utilities and Industrials sectors, the S&P 500 gained 13.66 or 0.66% to close at 2,080.62. Stocks in the Oil & Gas sector rose by nearly 2% on the session, amid a nearly 6% increase in WTI crude futures on the day. All 10 sectors in the S&P 500 closed in the green on Monday. The NASDAQ Composite index, meanwhile, increased by 30.38 or 0.62% to 4,917.32.

The top performer on the Dow on Monday was Microsoft Corporation (NASDAQ:MSFT), which rose 1.44 or 3.57% to 41.73 after closing on Thursday as the worst performer on the Dow. The worst performer on Monday was Johnson & Johnson (NYSE:JNJ), which fell 0.46 or 0.46% to 99.18 after JP Morgan cut its forecast on the stock, ahead of the release of its quarterly earnings. Johnson & Johnson was the only stock on the Dow to close in the red on Monday.

The biggest gainer on the NASDAQ was VimpelCom (NASDAQ:VIP), which gained 0.40 or 7.45% to 5.77. VimpelCom finished just ahead of Tesla Motors Inc (NASDAQ:TSLA), which rose 12.79 or 6.70% to 203.79 after posting a 55% gain in sales for the first quarter, its best quarter ever. The electric car manufacturer sold 10,300 vehicles during the first three months of the year, ahead of estimates of 9,500. The worst performer was Altera Corporation (NASDAQ:ALTR), which dropped by 1.89 or 4.37% to 41.22. Altera is down by roughly 7% since reports surfaced last month that a merger withIntel Corporation (NASDAQ:INTC) could be imminent.

The top performer on the S&P 500 was Transocean, which rose 1.51 or 10.07% to 16.50 after the strong gains in crude. The worst performer, meanwhile, was Hudson City Bancorp Inc (NASDAQ:HCBK), which plunged nearly 8% to 9.66 after its potential merger with M&T Bank (NYSE:MTB) suffered another delay. The merger will not be completed by May 1, according to the banks, after the Federal Reserve said it is not in a position to review the transaction by April 30.

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U.S. dollar rebounds to reverse earlier losses against the euro

Investing.com - Investing.com -- The U.S. dollar rallied sharply against the euro on Monday, reversing previous losses after strong services data improved outlook for traders following Friday's disappointing U.S. jobs report.

EUR/USD fell precipitously in U.S. afternoon trading to close 0.29% lower at 1.0940. Earlier, the pair surged before the opening of U.S. markets to a session high of 1.1026 to move above 1.10 levels for the first time since Mar. 25.

EUR/USD likely gained support at 1.08 its level on Mar. 30 and resistance at 1.12 its high on Mar. 2.

European markets have been closed since the end of last Thursday for Good Friday, as well as Easter Monday.

On Friday, the U.S. Bureau of Labor Statistics said in its monthly jobs report that the economy added 126,000 in March, halting a streak of 12 consecutive months of job growth that exceeded 200,000. The modest job increases nationwide marked the weakest period of hiring in 15 months. In terms of average weekly earnings, employees nationwide received the smallest annual gains in wages since last June.

The labor force participation rate, which measures the number of people who are either employed or actively looking for work, also painted a bleak outlook. During the month of March, the rate ticked down to 62.7%, the lowest level in 36 years.

In March, Federal Reserve chair Janet Yellen indicated that the Fed could begin raising interest rates when it was "reasonably confident" that inflation will move toward its target inflation of 2%. Yellen added that the Fed will take a "data-driven" approach to potential liftoff by keeping a close eye on wage and GDP growth before raising its benchmark Federal Funds Rate.

The substandard data pushed the dollar down on Monday morning, before it rebounded following the release of optimistic services data. EUR/USD moved in the opposite direction shortly after the release of the PMI Services Index, which rose to 59.2 in March, more than one-half point higher than March forecasts. The reading was also up more than two points from the final reading for February. A number of economists are looking at the service sector as a critical aspect of U.S. economic health.

Yields on U.S. sovereign debt rose sharply in response to the soft jobs data. Yields on U.S. 10-Year U.S. Treasuries soared .063 to 1.899, while yields on U.S. 30-Year Treasuries surged .071 to 2.556. U.S. 2-Year Treasuries also shot up more than 3.3% or 0.016 to 0.500.

Elsewhere, International Monetary Fund (IMF) head Christine Lagarde indicated that she is confident Greece will meet its obligation to make a €460 million payment to the fund by Thursday. Lagarde made the comments on Sunday night, following her meeting with Greece finance minister Yanis Varoufakis over the weekend in Washington.

"Minister Varoufakis and I exchanged views on current developments and we both agreed that effective cooperation is in everyone's interest," Lagarde said in a statement. "We noted that continuing uncertainty is not in Greece's interest and I welcomed confirmation by the minister that payment owing to the Fund would be forthcoming on April 9."

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Box Office: 'Furious 7' destroys records with $143.6 million debut

By Brent Lang

LOS ANGELES (Variety.com) - "Furious 7" raced to the top of the domestic box office, picking up a massive $143.6 million in its opening weekend.

That establishes a new high-water mark for the month of April, blowing past the $95 million debut of "Captain America: The Winter Soldier," as well as marks the highest grossing kick-off for any film in the "Fast and Furious" franchise. It also ranks ninth among the top ten openings in history.

Audiences flocked to see star Paul Walker in one of his final roles. The actor died in a 2013 car crash at the age of 40 and his work on the film was completed by using digital technology and a series of stand-ins.

"This is a bittersweet installment in the franchise," said Phil Contrino, vice president and chief analyst at BoxOffice.com. "[Walker's] passing made this movie more intriguing for people who hadn't seen some of the installments. It raised awareness and its success is a tribute to him."

Universal Pictures spared no expense in bringing the latest chapter in the fast cars and gravity-defying-stunts series to the big screen, shelling out $190 million on the production. It unspooled in 4,003 North American theaters, earning $14 million on 365 Imax screens and $11.5 million from premium large format screens. Going into the weekend, most analysts estimated that the film would open in the $115 million range.

Foreign numbers have yet to be released, but they promise to be steroidal. Internationally, the film rolled out across 10,500 screens in 63 territories.

"This is the next member of the billion dollar club and that's a rarefied place to be," said Contrino. "This thing is on fire."

With an A CinemaScore and strong reviews, "Furious 7" could be one of the few modern blockbusters that hangs in for more than a few weeks. The month of April is lean on blockbuster fare and "Furious 7" won't get serious competition until "The Avengers: Age of Ultron" debuts on May 1.

Last weekend's box office champion, DreamWorks Animation's "Home," showed impressive stamina. The animated tale picked up $27.4 million in its sophomore frame, pushing its domestic total to $95.6 million.

In third place, R-rated comedy "Get Hard" earned $12.9 million. The Will Ferrell and Kevin Hart team-up fell 62% from its opening number, bringing its stateside haul to $57 million.

"Cinderella" snagged a fourth place finish, picking up $10.3 million stateside to push its domestic bounty to $167.3 million. Globally, the Disney release is closing in on $400 million.

"The Divergent Series: Insurgent" rounded out the weekend top five, nabbing $10 million and driving the film to $103.4 million domestically.

Among art house releases, Noah Baumbach's "While We're Young" expanded from four to 34 theaters, picking up $492,976. The A24 release has earned $791,450 in two weeks.

Radius-TWC's "It Follows" also continued to expand, moving from 1,218 to 1,655, though its gross dipped 35% to $2.5 million. The critically adored horror film has made $8.5 million since debuting on March 13.

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The Prodigy top UK music album charts with first release in 6 years

BRITAIN-CHARTS:The Prodigy top UK music album charts with first release in 6 years

LONDON (Reuters) - Electronic music group The Prodigy went straight in at the top of the British music album chart on Sunday with "The Day Is My Enemy", their first studio album in six years, the Official Charts Company said.

The track is the band's sixth number one album in their 25-year career, and pushed last week's chart topper, James Bay's "Chaos And The Calm", into second place. Sam Smith's "In The Lonely Hour" also dropped one spot to third.

In the singles chart, singer-songwriter Jess Glynne claimed a second week at the top with her track "Hold My Hand".

Glynne finished just 5,000 copies ahead of Ed Sheeran's "Bloodstream", which climbed 24 places to take second, while James Bay's "Hold Back The River" fell one place to third.

(Reporting by Kylie MacLellan; Editing by Raissa Kasolowsky)

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Indian Business Icons: India's retail king Kishore Biyani

Today Future Group is a retail conglomerate worth over USD 2 billion and Kishore Biyani an entrepreneur whose right brain rules over the left says he scratched only the surface of modern retail in India.

Today Future Group is a retail conglomerate worth over USD 2 billion and Kishore Biyani an entrepreneur whose right brain rules over the left says he scratched only the surface of modern retail in India.

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UPA Land Act was anti-farmer; ours isn't: FM

Launching an attack on opposition parties for "misleading the nation" on the land acquisition bill by running a false campaign against it, Finance Minister Arun Jaitley termed the UPA's government's 2013 act as anti-farmer and said his government seeks to correct its contentious issues.

Launching an attack on Opposition parties for "misleading the nation" on the Land Acquisition Bill by running a false campaign against it, Finance Minister Arun Jaitley termed the UPA's government's 2013 Act as anti-farmer and said his government seeks to correct its contentious issues.

Jaitley was speaking at the National Executive meeting of the BJP in Bangalore where he made a detailed presentation of the Land Bill.

While maintaining that the government was open to suggestions to improve its version of the bill, the FM said the legislation, which has so far failed to pass muster with the Rajya Sabha, was "essential for the development of rural India" and added that it would boost industrialization, which would create greater employment opportunities. (The government yesterday repromulgated an ordinance yesterday to increase the bill's shelf life by another few months.)

The government is locked in combat with opposition parties with respect to the new bill, which seeks to drop need for owners' consent and an impact study, for acquiring land for purposes such as public-private partnerships, etc.

The government says the clause of the UPA's 2013 land law, which the current bill seeks to modify, required 70 or 80 percent consent as well as an impact study, hampered the land acquisition process.

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