Oil prices Tread Water As Markets Weigh China Recovery, Fed Caution
Oil prices were muted in early trade on Tuesday as optimism over better-than-expected economic data from China was offset by caution over an upcoming Federal Reserve meeting and an OPEC decision on production. Chinese business activity grew more than expected in January, government data...
Rising Interest Rates Have a Sting in The Tail For Europe’s Banks
Rising borrowing costs are giving a long-awaited lift to Europe's beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved...
Asian Stocks Sink As Fed Week Begins, China Reopens Strong
Most Asian stock markets sank on Monday as caution kicked in ahead of a Federal Reserve meeting and key economic data this week, while Chinese shares rose sharply as they resumed trade after a week-long holiday. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite...
Chinese Stocks Surge After Week-Long Holiday
Chinese stock markets rose sharply on Monday as they resumed trade after the Lunar New Year holiday, while a commitment from the government to boost spending and support economic growth also aided sentiment. The Shanghai Shenzhen CSI 300 index rose 1.3%, while the Shanghai...
MSCI Seeks Feedback On Adani Group Over Hindenburg Report
Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate - controlled by one of the world's richest men Gautam...
Asian Stocks Rise Tracking Positive U.S. GDP, Adani Extends Losses
Most Asian stock markets rose on Friday as appetite for risk-driven assets was supported by better-than-expected U.S. economic growth data, while Indian stocks extended their descent as heavyweight Adani remained under pressure from a short seller report. Overnight data showed that the world’s largest...
Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data
Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria,...
Flavour Maker Givaudan Beats Earnings Forecasts in a Tough Year
Swiss fragrance and flavour maker Givaudan on Wednesday reported better-than-expected earnings for a year characterized by high input costs and supply chain disruptions. The group, which so far has successfully passed steep input cost increases on to customers, however saw a slowdown in sales...
Oil Rises After Steep Losses, But Recession Fears Limit Gains
Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past...
Saga Rises After Confirming Talks to Sell Insurance Business
Shares in Saga (LON:SAGA) rose on Monday after the company confirmed on a weekend report saying it's in talks to sell its insurance business Acromas. The Sunday Times had reported that the group wants to use the proceeds from the sale to pay down...