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OPEC sees bearish oil outlook for rest of 2019, points to 2020 surplus

Friday, 16 August 2019

OPEC on Friday provided a downbeat oil-market outlook for the rest of 2019 as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to restrain supplies. In a monthly report, the Organization of the Petroleum Exporting Countries cut its forecast for oil demand growth in 2019 by 40,000 barrels per day (bpd) and indicated the market will be in slight surplus in 2020. The bearish outlook due to slowing ...

LSE glitch delays open of FTSE 100, midcap trading

Friday, 16 August 2019

The London Stock Exchange said on Friday a technical glitch delayed in the opening of trading on the UK blue chip FTSE 100 and midcap stocks indexes, the LSE's second outage in just over a year. The exchange was investigating a “potential trading services issue” and would have further information by 0750 GMT, it said in a statement on its website. An LSE spokeswoman said a “technical issue had affected trading in some securities,” but she had no ...

Eurozone bond yields linger around record lows on recession risks

Friday, 16 August 2019

Government bond yields in the eurozone hovered near record lows on Friday, reflecting heightened expectations for European Central Bank (ECB) easing soon and concern about global recession risks. Ten-year bond yields in Germany and Italy were poised to record their biggest weekly falls since mid-2018, while Spanish 10-year yields, down 23 basis points this week, are on track for their biggest weekly fall since 2016. ECB policymaker Olli Rehn on Thursday flagged the need ...

Asian shares mixed amid ongoing worries about US-China trade

Friday, 16 August 2019

Asian shares were mixed Friday as turbulence continued on global markets amid ongoing worries about US-China trade conflict.Japan’s benchmark Nikkei 225 recouped early losses to be up 0.3 percent at 20,456.96 in morning trading. Australia’s S&P/ASX 200 inched down nearly 0.1 percent to 6,402.40, while South Korea’s Kospi fell 0.8 percent to 1,923.56. Hong Kong’s Hang Seng added 0.8 percent to 25,701.58. The Shanghai Composite gained 0.7 percent to 2,834.85.On Wall ...

US stocks open sharply lower on recession fears

Wednesday, 14 August 2019

Wall Street stocks were back in sell-off mode early Wednesday as weak economic data out of Germany and China exacerbated fears of a global slowdown.Just after the opening bell, the Dow Jones Industrial Average was down 1.2 percent at 25,959.53.The broad-based S&P 500 slid 1.5 percent to 2,883.50, while the tech-rich Nasdaq Composite Index dropped 1.8 percent to 7,875.27.The sell-off came shortly after the yield on the 10-year US Treasury note briefly slid below the yield on the two-year bond ...

Euro bond yields at new lows after US yield curve inverts

Wednesday, 14 August 2019

Government borrowing costs in Germany fell to record lows on Wednesday as global recession fears grew, with the US Treasury yield curve inverting for the first time since 2007 and Germany reporting its economy shrank in the second quarter. Eurozone government bond yields extended earlier declines after the two- to 10-year Treasury yield curve inverted, a sign that investors are bracing for recession risks in the United States. The yield curve is closely watched for recession signals. The last ...

Turkish lira weakens as investors remain cautious of emerging markets

Tuesday, 13 August 2019

Turkey's lira weakened more than one percent on Tuesday, declining for a third straight trading session, as investors remain cautious of emerging markets after the Argentinian peso fell to a record low against the dollar. The lira stood at 5.6245 against the dollar at 1217 GMT, down some 1.1 percent from Monday's close of 5.5630. Earlier, it declined as far as 5.6360, it's weakest level since July 29. Tuesday is a public holiday in Turkey for Eid al-Adha. ...

Host of global worries drive European shares lower

Tuesday, 13 August 2019

European shares fell on Tuesday, as a slew of economic and geopolitical worries including Italy and Argentina’s political uncertainty and unrest in Hong Kong, compelled investors to take refuge in safe harbors like bonds and gold. The pan-European STOXX 600 index fell 0.3 percent by 07:15 a.m. GMT, with the bank-heavy Milan and Madrid indexes leading losses. Markets, already reeling from fears that the United States and China may not end their bitter trade-war ...

Asia shares jolted by Hong Kong unrest amid trade worries

Tuesday, 13 August 2019

Asian shares slumped on Tuesday as fears about a drawn out Sino-US trade war, protests in Hong Kong and a crash in Argentina’s peso currency drove investors to safe harbors like bonds, gold, and the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan skidded 1 percent. Chinese stocks fell 1 percent, while Hong Kong’s main market index tumbled 1.7 percent to a seven-month low. “The protests in Hong Kong are negative for stocks, which ...

Asian shares rise following broad rally for US stocks

Friday, 9 August 2019

Asian shares rose Friday as investors bought back stocks following gains on Wall Street, although worries about a trade dispute between the US and China remained.Japan’s benchmark Nikkei 225 added nearly 0.6 percent in morning trading to 20,706.95.Australia’s S&P/ASX 200 gained 0.2 percent to 6,577.90. South Korea’s Kospi added nearly 1.0 percent to 1,939.30. Hong Kong’s Hang Seng rose 0.4 percent to 26,216.54, while the Shanghai Composite edged up 0.4 percent to ...

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