07022016Sat
Last update: Sat, 02 Jul 2016 03am

Markets - Equity

Markets - Equity - Europe

Oil prices down again as UAE defends production hold LONDON: Crude oil prices hit their lowest in almost six years on Tuesday in a market readying for further falls, as a big OPEC producer stood by the group's decision not to cut output to tackle a supply glut.Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia.Rather than cutting output to try to balance the market, producers from the Organization of the Petroleum Exporting Countries (OPEC) are offering discounts to customers in an attempt to defend market share.At 1442 GMT, February Brent crude was down $1.40 at $46.03 a barrel, after dipping to $45.19, its lowest since March 2009.U.S. crude for February was down 72 cents at $45.35 a barrel, off an intraday low of $44.20."The market is in a bit of a panic now and the momentum is really quite negative. ...


Markets - Equity - Americas

Wall St rallies after 2-day drop, Alcoa earnings NEW YORK: US stocks rallied on Tuesday to bounce from a two-day decline as financial results from Alcoa helped ease some investor worry regarding the corporate earnings season.Alcoa Inc reported a higher-than-expected quarterly profit due to automotive demand, higher aluminum prices and lower energy costs. The stock opened higher but was last trading little changed at $16.18.Gains were broad, with each of the 10 major S&P sectors in positive territory.Equities fell for a second straight ...

Markets - Equity - Europe

Retail sector fuels gains for Britain's FTSE 100 LONDON: Britain's top equity index rose on Tuesday, supported by Morrisons after the grocer announced the departure of its chief executive following its poor performance during the busy Christmas trading season.The blue-chip FTSE 100 index was up 0.7 percent at 6,544.49 points by 1452 GMT. However, weaker commodity stocks on the back of fresh lows for oil and copper prices limited gains.Morrisons jumped 4.2 percent after the grocer said Chief Executive Dalton Philips would go, ...

Markets - Equity - Middle East & Africa

South African shares advance, led by gold producers JOHANNESBURG: South African shares rose more than 2 percent on Tuesday amid expectations that European Union policy makers will intervene to keep the euro zone from slipping into deflation, a move that should help to ease risk aversion.Bullion producers AngloGold Ashanti and Sibanye Gold led the gains as gold reached a 12-week high and investors sought refuge from volatile stocks and depressed oil prices. AngloGold closed 4.45 percent higher at 124.70 rand and Sibanye rose ...

Markets - Equity - Americas

Stock markets recover from recent weakness; oil still down NEW YORK: Stock markets around the world rose on Tuesday, rebounding after a recent bout of weakness as investors bet that there would be economic stimulus measures from the European Central Bank and as early reads on the U.S. earnings season came in strong.Despite the gain in equities, oil prices continued to slide, with Brent crude sinking 2.9 percent. U.S. crude futures lost 1.7 percent, extending their drop of 4.7 percent on Monday. If oil ...

Markets - Equity - Europe

Oil dives close to six-year lows; European stocks rise LONDON: Oil tumbled towards six-year lows Tuesday on global oversupply and after OPEC kingpin Saudi Arabia said the era of $100 crude was over, analysts said. Brent crude for February delivery tumbled to $46.54 per barrel -- the lowest since March 2009 -- and US benchmark West Texas Intermediate (WTI) for the same month hit a similar trough at $44.20 a barrel."Today a Saudi official reiterated the belief ... that the days of $100 oil ...

Markets - Equity - Americas

US stocks jump as Alcoa results best expectations NEW YORK: Wall Street stocks followed European equity markets higher Tuesday, surging in opening trade after results from Alcoa kicked off quarterly earnings season.Five minutes into trade, the Dow Jones Industrial Average stood at 17,879.10, up 238.26 points (1.35 percent).The broad-based S&P 500 jumped 23.57 (1.16 percent) to 2,051.83, while the tech-rich Nasdaq Composite Index gained 59.91 (1.26 percent) at 4,724.62.Equity markets in France and Germany were both up more than one percent on speculation ...