05012016Sun
Last update: Sun, 01 May 2016 02pm

Markets - Equity

Markets - Equity - Middle East & Africa

Saudi surges as reforms announced, rest of Gulf weak DUBAI: Saudi Arabia's stock market recovered from early losses and jumped 2.5 percent on Monday as Deputy Crown Prince Mohammed bin Salman announced an economic overhaul for the oil-dependent kingdom.He outlined a restructuring of the government's Public Investment Fund to make it an international investment power, a planned sale of a stake of less than 5 percent in national oil giant Saudi Aramco, a restructuring of the housing ministry to increase supply of affordable housing, and a "green card" system to give expatriates long-term residence.There were few details, and many analysts said execution of some of the reforms would be difficult. But the stock market was lifted by a sense that the government was acting energetically to address the economy's problems."The main theme of Vision 2030 is to diversify, liberalise and reform the Saudi economy, and the reliance on oil income will gradually fall," said Shakeel Sarwar, head of asset ...


Markets - Equity - Americas

TSX falls as energy, financial stocks retreat TORONTO: Canada's main stock index fell on Monday as lower oil prices weighed on energy stocks, while financial sector and industrial stocks also retreated as investor attention turned to the Federal Reserve interest rate meeting this week.Energy stocks fell 2.2 percent, including a 1.9 percent decline in Suncor Energy Inc to C$35.62.Shares of Precision Drilling Corp fell 5 percent to C$5.70. The rig contractor posted a first-quarter loss, compared with a profit a year earlier, ...

Markets - Equity - Europe

FTSE hits one-week low as commodities-related stocks slump LONDON: Britain's top share index hit a one-week low on Monday, led by sharp falls in mining companies and oil and gas stocks as investors voiced concerns about whether commodities-related assets could sustain a recent rally.Miners have rallied since the end of January, with the sector gaining over 60 percent, but persistent concerns about an economic slowdown in China, the world's biggest metals consumer, have made investors sceptical about further gains."There's a little bit of ...

Markets - Equity - Americas

US stocks open lower ahead of Fed meeting, Apple results NEW YORK: Wall Street stocks fell early Monday at the start of a jam-packed news week that includes a Federal Reserve policy meeting and earnings from Apple and other US business giants.About 25 minutes into trade, the Dow Jones Industrial Average was at 17,917.53, down 86.22 points (0.48 percent).The broad-based S&P 500 fell 9.37 (0.45 percent) to 2,082.21, while the tech-rich Nasdaq Composite Index dropped 14.63 (0.30 percent) to 4,891.60.The Fed is widely expected to ...

Markets - Equity - Europe

European, US stocks drop awaiting central bank action LONDON: European stock markets dropped on Monday following losses across Asia, as traders looked ahead to key central bank meetings due towards the end of the week.Around 1400 GMT, London's benchmark FTSE 100 index was down 0.7 percent compared with Friday's closing level.In the eurozone, Frankfurt's DAX 30 lost 0.9 percent and the Paris CAC 40 slid by 0.5 percent in value, while Wall Street also opened lower, the Dow Jones Industrial Average off 0.23 ...

Markets - Equity - Europe

Stocks, dollar stumble ahead of Fed, BOJ meetings LONDON: World stocks, the dollar and oil all fell modestly on Monday as investors locked in recent gains before central bank meetings in the United States and Japan this week.European and Asian equities both sank as 3.2 and 1.2 percent falls for miners and oil firms pushed the FTSEurofirst 300 down for a third straight day and Tokyo gave back a fifth of the 4 percent it made last week.Wall Street looked set for a ...

Markets - Equity - Europe

European shares fall from three-month high as EDF slumps LONDON: European shares fell further below last week's three-month high on Monday, as weak mining stocks and a drop in French utility EDF weighed on the market.The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,366.99 points, nearly 2 percent off last Thursday's peak, which was its highest level since January.Germany's DAX was down 0.5 percent after a report showed German business morale fell in April. The German Ifo business climate index came in ...