01162017Mon
Last update: Mon, 16 Jan 2017 05pm

Markets - Equity

Markets - Equity - Middle East & Africa

MIDEAST STOCKS-Egypt rises but foreign funds sell; oil pulls down Saudi DUBAI: Egypt's stock market rose strongly on Tuesday but foreign funds were net sellers for a second time since the Egyptian pound was floated on Nov. 3. Gulf markets diverged with Saudi petrochemical shares hit by weak oil prices. The Egyptian blue chip index added 1.8 percent to 13,015 points, a fresh all-time closing high, but trading volume fell slightly below its seven-day average. Foreign investors, heavy buyers of Egyptian shares since the currency was floated, were net sellers by a small margin after also selling on Sunday this week. Mohamed El Nabarawy, head of asset management at Egypt's HC Securities & Investment, said foreign funds had been extremely underweight in Egypt for several years and were likely to remain interested in the market, so he did not expect their profit-taking to trigger a major pull-back by stocks. On Tuesday some stocks favoured by local investors were the top gainers, ...


Markets - Equity - Americas

EMERGING MARKETS-Brazil stocks up on iron ore, steel rally SAO PAULO: Brazilian stocks rose on Tuesday as hopes that China would further cut steel output lifted shares of miners and steelmakers for a second day.The official Xinhua news agency reported on Sunday that Hebei province, which accounts for about a quarter of China's total steel output, plans to slash 31.86 million tonnes of steel and ironmaking capacity this year.Shanghai steel futures jumped 7 percent overnight, lifting iron ore prices to their strongest level in ...

Markets - Equity - Americas

S&P, Nasdaq flat; Goldman leads Dow lower NEW YORK: The S&P 500 and the Nasdaq were flat on Tuesday morning, while Goldman Sachs led the Dow lower, as investors await the earnings season to test if Wall Street's record levels are justified by corporate earnings in the fourth quarter. Goldman Sachs fell 1.4 percent after Citigroup downgraded the stock, a move that comes ahead of reports by JPMorgan, Bank of America and Wells Fargo on Friday. JPMorgan was down 0.4 percent, while ...

Markets - Equity - Europe

Stocks and oil edge higher; sterling reels from Brexit pain LONDON: World stock markets nudged back towards recent multi-month highs on Tuesday, aided by a rally in commodity prices, although sterling slid for a second straight day on concerns over Britain's future ties with the European Union. European stock markets, which had opened broadly lower , edged back towards recent one-year peaks, while US stock futures traded marginally higher. The recovery in share prices came as commodities such as copper gained on further signs of ...

Markets - Equity - Asia

Japanese stocks decline as yen strengthens, Trump speech awaited TOKYO: Japan's Nikkei share average fell on Tuesday with a strengthening yen weighing on exporter shares, although hopes that US President-elect Donald Trump would provide hints about stimulus at an upcoming speech helped curb the losses. Trump, who takes office on Jan. 20, is scheduled to hold a news conference on Wednesday that will be his first since winning the election in November.The Nikkei dropped 0.8 percent to 19,301.44. The broader Topix was down 0.7 ...

Markets - Equity - Australia

Australia shares hit by first 2017 loss, hurt by financials; NZ higher SYDNEY: Australian shares suffered their first loss of the year on Tuesday, as financial stocks followed their US peers down and energy counters remained pressured by weaker oil prices. The S&P/ASX 200 index, which had risen the past five sessions, fell 0.8 percent, or 46.75 points, to 5,760.7 at the close of trade. The benchmark was up nearly 1 percent on Monday.Financial shares were the worst performers on the index, with their index losing 1 ...

Markets - Equity - Europe

European shares slip as bank losses offset tech gains; FTSE hits new high MILAN: European shares slipped on Monday as a pullback in bank stocks more than offset a stronger tech sector, while a drop in the pound drove Britain's FTSE 100 index to further record highs. The pan-European STOXX index slid 0.4 percent, while the FTSE 100 rose 0.4 percent after hitting an all-time high of 7,243.76 points in its 10th straight session of gains. The pound sank to more than two-month lows after weekend comments from ...