07272016Wed
Last update: Wed, 27 Jul 2016 06am

Markets - Equity

Markets - Equity - Middle East & Africa

Gulf retreats as oil's fall outweighs Q2 earnings DUBAI: Gulf stock markets declined on Sunday as sharp falls in oil prices late last week outweighed a few positive corporate earnings in Saudi Arabia.In Egypt, investors bought shares that could benefit from any currency devaluation.Riyadh's stock index fell 1.2 percent as losses accelerated in the final hour of trade, with four-fifths of traded stocks declining.Rabigh Refining and Petrochemical Co declined 2.5 percent after it reported a 79.6 percent slide in net profit to 103.2 million riyals ($27.5 million), blaming lower prices and tighter refinery margins.Saudi Arabian Fertilizers Co (SAFCO) dropped 0.4 percent after it said quarterly profit halved to 299 million riyals, broadly in line with an average forecast by analysts for 290.5 million riyals.But Saudi Kayan Petrochemical climbed 1.4 percent after it swung to a net profit in the second quarter of 91.02 million riyals, ending a run of five straight quarterly losses and beating analysts' forecast for ...


Markets - Equity - Americas

TSX flat as Valeant, miners weigh; eyes fourth weekly gain TORONTO: Canada's main stock index slipped on Friday but was on track for its fourth straight weekly gain as losses for materials stocks and Valeant Pharmaceuticals International Inc were offset by rising telecom, railway and banking stocks. Valeant declined 3.3 percent to C$30.96 after US regulators raised concerns about a new eye drop the company manufactures.The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.0 percent, with Barrick Gold Corp ...

Markets - Equity - Americas

US stocks flat as Boeing retreats NEW YORK: Wall Street stocks treaded water early Friday as Boeing shares took a hit after the company announced that it would take a $2.1 billion charge against second quarter earnings.Investors were cautious after the Dow lost ground Thursday, ending a six-day streak of records amid a mix of earnings reports."Investors will do a lot of tape watching, aiming to see how leading sectors ... respond to Thursday's pullback and whether the modest uptick at ...

Markets - Equity - Asia

Hong Kong shares end week with loss HONG KONG: Hong Kong stocks ended the week with a loss Friday as traders followed a global sell-off fuelled by worries about central banks' commitments to economic stimulus.The Hang Seng Index shed 0.16 percent, or 36.22 points, to end at 21,964.27.The benchmark Shanghai Composite Index fell 0.86 percent, or 26.19 points, to 3,012.82 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, lost 0.91 percent, or 18.61 points, to 2,019.57.Copyright AFP (Agence ...

Markets - Equity - Asia

Asia stocks track US sell-off on stimulus worries HONG KONG: Asian markets fell Friday, tracking the Dow on Wall Street's first loss in six sessions, with traders left disappointed by comments from central banks in Japan and Europe that caused them to roll back their stimulus hopes.Trading floors worldwide have been humming with excitement for the past few weeks, racking up trillions of dollars in gains, as leaders promised measures to kickstart economies in the wake of Britain's shock EU exit vote.The upbeat ...

Markets - Equity - Asia

China stocks slide as central bank official casts doubt on monetary stimulus SHANGHAI: China stocks closed down on Friday after a central bank official cast doubts on the likelihood of further interest rate cuts and investors took profits following the previous day's bounce. Sheng Songcheng, director of the Survey and Statistics Department at the People's Bank of China, said tax cuts would be a more effective way of stimulating the economy than interest rate cuts, the National Business Daily reported on Friday.Sheng added that China was caught ...

Markets - Equity - Europe

European stocks retreat at open LONDON: Europe's main stock markets fell at the start of trading on Friday, with London's benchmark FTSE 100 index sliding 0.2 percent to 6,689.17 points.In the eurozone, Frankfurt's DAX 30 dropped 0.3 percent compared with the close on Thursday to 10,130.51 points and the Paris CAC 40 also slid 0.3 percent to 4,365.38.Copyright AFP (Agence France-Presse), 2016