09282016Wed
Last update: Wed, 28 Sep 2016 11am

Markets - Equity

Markets - Equity - Middle East & Africa

Gulf mixed with Saudi outperforming peers, Egypt loses steam DUBAI: Bourses in the Gulf were mixed on Wednesday with Saudi Arabia's bourse supported by the petrochemical sector while Egypt lost steam as local and regional funds exited positions. Saudi Arabia's index rose 0.4 percent in moderate trade as Brent prices firmed over $46 a barrel. Saudi Basic Industries, the petrochemical heavyweight, climbed 0.9 percent. The insurance sub-index, usually actively traded by day traders, added 1.7 percent as almost all the constituents advanced, recouping some of the heavy losses of the week. BUPA Arabia, a mid-sized medical insurer, rose 2.9 percent.But banking shares were mixed, with the sub-index losing 0.2 percent as the sector's heavyweights diverged. Al Rajhi Bank, the largest listed Islamic lender, dropped 2.7 percent. "There is an overhang from the construction sector on Saudi banks, but we believe that the capital buffers in top-tier banks are sufficient," said Kunal Damle, institutional sales for brokerage at Bahrain's Securities ...


Markets - Equity - Europe

Equities rebound, Poland lags behind BUDAPEST/WARSAW: Equities in Central Europe rebounded on Wednesday, except in Poland where continuing concerns over a possible constitutional crisis weighed on the country's assets.Risk appetite increased after the Bank of Japan's decision to keep interest rates low in the long term, and ahead of Wednesday's Federal Reserve rate decision.A surprise rate hike or hawkish comments could tarnish the appeal of Central Europe's high-yielding assets.The forint, the zloty and the leu firmed by 0.1 percent against ...

Markets - Equity - Americas

US stocks boosted by FedEx, Microsoft NEW YORK: Strong FedEx earnings and a dividend hike from Microsoft boosted US stocks early Wednesday ahead of a much-anticipated monetary policy announcement by the Federal Reserve.FedEx jumped 5.4 percent after reporting a 3.3 percent rise in fiscal first-quarter earnings to $715 million in results that bested expectations.Dow member Microsoft gained 1.2 percent as it increased its dividend and announced a new share repurchase program of up to $40 billion.About 25 minutes into trade, the ...

Markets - Equity - Europe

BOJ rate surprise lifts world stocks ahead of Fed LONDON: World stocks rose on Wednesday, led by a surge in bank shares, while the yen weakened after the Bank of Japan surprised markets by adopting a target for long-term interest rates.With the global economy showing few signs of rebounding and investors fretting about the limits of major central banks' easing, the BOJ's move came as a welcome relief for markets.The focus now shifts to the U.S. Federal Reserve policy decision later on Wednesday, with ...

Markets - Equity - Middle East & Africa

Gulf edges up but Qatar slips in early trade DUBAI: Stock markets in the Gulf made small gains in early trade on Wednesday with investors buying small and mid-sized shares, while Qatar's index slipped as the FTSE passive funds inflow faded.Riyadh's index rose 0.3 percent to 5,943 points after 45 minutes of trade, pulling slightly away from its technical support at the August low of 5,911 points.Petrochemical shares firmed as Brent futures bounced back over $46 a barrel. The largest listed producer Saudi Basic ...

Markets - Equity - Europe

Britain's FTSE buoyed by banks after BoJ policy overhaul LONDON: Britain's top share index rose on Wednesday, buoyed by its banks after the Bank of Japan overhauled its monetary policy framework, with Barclays leading gainers after a broker upgrade.The FTSE 350 bank index was up 1.5 percent after the Bank of Japan (BoJ) shifted key policies to establish control over interest rate yield curves, instead of its money-printing programme.It recommitted to reaching its elusive 2 percent inflation goal as quickly as possible. Easy monetary ...

Markets - Equity - Europe

Banking shares lead bounce across European stocks LONDON: European shares rose on Wednesday, buoyed by a rally in banks, after a policy overhaul at the Bank of Japan lifted risky assets globally.The STOXX 600 index rose 0.8 percent, touching its highest level in 2 weeks after a rise in European banks.Eurzone zone banks were up 2.4 percent, on track for their best day in one month with Natixis, Italian and Spanish lenders among the top risers.Europe took its cue from Asian markets ...