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NEW YORK, United States (AFP) — Global stocks mostly rose Tuesday as markets embraced better coronavirus case counts in some hotspots, while oil prices slumped amid skepticism over an historic agreement by petroleum producers. Major US indices gained more than two percent, the latest positive day for stocks since officials in New York and some other hotspots pointed to progress in cutting the number of new coronavirus cases. Some countries, including Italy and Austria, have […]
RIYADH, Saudi Arabia (AFP) — Oil output cuts by OPEC and its allies, together with pledges from other G20 nations and purchases by strategic reserves, could remove 19.5 million barrels per day from the market, the Saudi energy minister said. US President Donald Trump said Monday that the actual output cuts may be deeper than the headline figure of 9.7 million bpd — with top producers considering slashing output by 20 million barrels a day […]
SINGAPORE, Singapore (AFP) — Oil prices rose Tuesday after US President Donald Trump said producers are considering cutting 20 million barrels per day — more than double the figure publicly announced — to help the virus-hit sector. US benchmark West Texas Intermediate rose nearly 2 percent to trade at $22.85, while international benchmark Brent crude climbed 1.5 percent to trade at $32.26. OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out […]
HONG KONG, China (AFP) — Most Asian equities retreated Wednesday after a two-day rally as investors closely track developments in the coronavirus crisis, while the oil market continued to fluctuate ahead of a crucial producers’ meeting. While the deadly disease continues to sweep across the planet, signs that the rate of infections is possibly leveling out and countries are preparing to ease some lockdown restrictions have instilled a semblance of optimism this week. However, the […]
HONG KONG, China (AFP) — Asian markets were mostly up Wednesday after suffering a diabolical first quarter, while traders weigh trillions of dollars in global stimulus with the prospect of lengthy lockdowns as the coronavirus continues its deadly sweep across the planet. With the number of infected and dead still surging in Europe and the United States, hopes are fading that strict containment measures keeping billions of people at home will be lifted any time […]
HONG KONG, China (AFP) — Most Asian equities enjoyed gains Tuesday following another rally on Wall Street, while oil bounced, with traders welcoming a surprise jump in Chinese factory activity, though analysts cautioned that the road ahead remained rocky for the global economy. The World Bank also warned that fallout from the coronavirus pandemic could bring China’s growth to a standstill, with even a best-case scenario seeing expansion slow to 2.3 percent from 6.1 percent […]
HONG KONG China (AFP) — Asian equities soared again Wednesday after US lawmakers finally agreed on a mammoth stimulus package to support the world’s biggest economy against the impact of the coronavirus pandemic. While the deadly disease continues to spread, traders have a rare semblance of optimism after weeks of carnage across global markets, with eyes fixed on Washington where lawmakers in the early hours thrashed out an emergency bill worth as much as $2 […]
HONG KONG, China (AFP) — Asian markets and crude prices surged while the dollar sank Tuesday after the Federal Reserve unveiled an unprecedented bond-buying program to support the US economy. While most of the planet goes into lockdown, traders gave a massive thumbs up to the US central bank’s pledge to essentially print cash in a move not seen since the global financial crisis more than a decade ago. The Fed, which has already slashed […]
HONG KONG, China (AFP) — Asian markets were mostly in the red in early trade Monday despite massive economic stimulus efforts worldwide, with investors spooked by the relentless march of the coronavirus pandemic. The negative mood was fuelled by the failure of US lawmakers to agree on a trillion-dollar emergency package to help the reeling American economy. The global death toll from the virus has surged past 14,300, with nearly a billion people confined and […]
HONG KONG, China (AFP) — Asian equities enjoyed some much-needed gains Friday after another volatile week on global markets as investors took solace in a blockbuster series of government and central bank measures aimed at cushioning the economic blow from the coronavirus. The dollar also eased somewhat after a lengthy rally fuelled by traders cashing out of their investments, while the embattled oil market extended Thursday’s gains. With the deadly pandemic showing no sign of […]
by Roland JACKSON LONDON, United Kingdom (AFP) — Global stock and oil markets plunged Wednesday, as vast stimulus measures failed to offset heightened concerns that the worsening coronavirus outbreak will tip the world into a deep downturn, dealers said. In European stock market trading, Frankfurt, London, and Paris tanked around five percent in morning deals, after similar dizzying losses across Asia. Before the market open in Paris, French regulators banned for one-month short-selling, or the […]
HONG KONG, China (AFP) — Asian markets plunged Wednesday, reversing an early rally fuelled by global stimulus pledges, including a more than $1 trillion package flagged by the United States. With borders being shut and countries going into lockdown, there is a broad expectation the world economy will plunge into recession as markets convulse. Dealers across the planet, who have been sent running for the hills, have been begging for government measures to mitigate the […]
