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LONDON, Sept 26, 2023 (AFP) – Most global stock markets fell Tuesday as investors grow increasingly concerned that US interest rates will rise again and stay elevated for a prolonged period to tame inflation. Asian bourses closed in the red, most of Europe was trading down in afternoon selling and Wall Street fell in opening trade. US Treasury yields jumped to fresh 16-year highs in the wake of Federal Reserve signals that it might raise […]
LONDON, Sept 5, 2023 (AFP) – European stocks drifted slightly higher but dipped slightly in the US Tuesday after investors set aside data showing growth faltering in China, but oil prices jumped as Russia and Saudi Arabia extended export cuts. The dollar strengthened as bond yields rose, following some recent weakness as traders expect the Federal Reserve to pause its hiking of interest rates. The price of the main international oil contract, Brent crude, hit […]
LONDON, July 3, 2023 (AFP) – Oil prices rose Monday after key producers Saudi Arabia and Russia further cut crude output in a bid to protect their precious revenues. Brent crude, the international benchmark, and US counterpart WTI jumped after Riyadh extended a voluntary oil production cut of one million barrels per day, while Moscow — whose invasion of Ukraine last year sparked oil market turmoil — said it was slashing exports by 500,000 bpd. […]
NEW YORK, June 26, 2023 (AFP) — The ruble reached a 14-month low against the dollar on Monday while US and European markets mostly retreated after a short-lived mutiny in Russia stoked concerns about the nuclear-armed country’s stability. While the advance by the Wagner mercenary force led by Yevgeny Prigozhin was called off before it reached Moscow, analysts said the rebellion showed President Vladimir Putin’s grip on power was more fragile than previously thought. While […]
LONDON, June 20, 2023 (AFP) – Asian and European stocks mostly fell Tuesday, as China’s smaller-than-forecast interest rate cut failed to dispel worries over its flagging powerhouse economy. Sentiment was also subdued before the return of Wall Street traders from a long holiday weekend. London stocks firmed on the eve of critical UK inflation data and ahead of Thursday’s expected interest rate increase from the Bank of England. Frankfurt and Paris slid one week after […]
New York, United States | AFP | Monday 4/10/2023 Wall Street stocks declined early Monday as markets digested the latest US jobs data and prepared for key inflation updates, on top of bank earnings in a news-heavy week. Monday’s session was the first since the release of March employment figures by the Labor Department, which showed the US economy added 236,000 jobs last month. This was slightly less than expected, and came as the unemployment […]
NEW YORK, United States (AFP) — World oil prices soared Monday while equity markets mostly won modest increases after several top producers led by Saudi Arabia sprang surprise output cuts. Crude futures surged almost eight percent at one stage, a day after multiple members of the OPEC+ exporters’ alliance unexpectedly slashed production by a total of more than one million barrels per day. The shock reduction will start in May and last until the end […]
Hong Kong, China | AFP | Tuesday 3/14/2023 Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders. The swift closure of Silicon Valley Bank on Friday, followed by Signature Bank days later, forced US authorities to immediately pledge support for other lenders and depositors. The move by the Federal Reserve, Treasury Department and Federal Deposit Insurance Corp. […]
London, United Kingdom | AFP | by Roland JACKSON Oil soared Friday after Russia slashed its crude output in response to a Western price cap that was imposed on exports after Moscow’s invasion of Ukraine. Europe’s benchmark Brent oil and US counterpart WTI crude jumped more than two percent after Russian deputy prime minister Alexander Novak cut production by 500,000 barrels per day, or five percent of output. “Crude prices reacted positively to the […]
London, United Kingdom (AFP) by Roland JACKSON Many global stock markets in 2022 suffered the worst showing in years, rocked by Russia’s invasion of Ukraine, decades-high inflation, the end of easy money and China’s latest Covid woes, and as the outlook darkens for 2023. Equities were slammed as the US Federal Reserve, the European Central Bank and the Bank of England aggressively lifted interest rates in a bid to tackle rampant consumer price rises. In […]
Hong Kong, China (AFP) Asian markets rose Wednesday and the dollar struggled to recover as investors welcomed softer-than-expected US inflation data that could allow the Federal Reserve to slow down its pace of interest rate hikes. The reading provided some much-needed holiday cheer on trading floors and came the day before the US central bank’s last policy decision of the year, which will be pored over for clues about its plans for 2023. There […]
Hong Kong, China (AFP) Most stocks rose on Monday as traders welcomed more easing of strict Covid containment measures in China that have hammered the world’s number-two economy. The moves helped offset a forecast-busting US jobs report that dented hopes that the Federal Reserve will take a softer approach to hiking interest rates in its battle against inflation. Investor sentiment has picked up considerably in recent weeks on indications the US central bank will slow […]
