Tag Archives: Markets

Asian stocks extended their winning streak for the ninth consecutive session on Tuesday and oil prices rose as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery. European markets were set to follow that lead with pan-European Euro Stoxx 50 futures …

Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May. Brent crude LCOc1 was up 89 cents, or 2.1%, at $43.19 per barrel, by 0500 GMT, while U.S. …

The German economy has passed the trough of its coronavirus recession and is starting to grow again, the Bundesbank said, endorsing the government’s sweeping fiscal stimulus that should underpin the rebound. Yet the recovery is still muted as some restrictions to rein in the spread of the pandemic remain in …

Brent crude LCOc1 futures fell 1.18%, or 47 cents, to $39.32 a barrel as of 0652 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures slid 1.80%, or 67 cents, to $36.62 a barrel. Saudi Arabia and Russia, two of the world’s biggest oil producers, have agreed to support …

Australia is set for its first recession in 29 years as the country feels the impact of the virus pandemic. Official figures show that the economy shrank by 0.3% in the first three months of the year, amid bushfires and the early stages of the outbreak. Economists expect data for …

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. Brent crude LCOc1 rose 2.7%, or $1.04, …

The world’s largest cryptocurrency rallied above $10,000 once again amid optimism digital assets will continue to benefit in the wake of unprecedented global fiscal and monetary stimulus. Bitcoin rose about 5% on Tuesday to trade around $10,168 as of 10:05 a.m. in New York. The rally catapulted the coin to …

Oil prices climbed more than 2% on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but gains were capped by worries over the economic fallout from the coronavirus pandemic and weak refining margins. Brent crude futures LCoc1 were up 63 cents, or 1.8%, at $35.28 …

The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism. Managing Director Kristalina Georgieva said the Fund was likely to revise downward its forecast …

Enormous doses of stimulus spending are offering relief from coronavirus damage but their lifelong legacy of debt could seed future crises by hobbling economic growth and worsening poverty, especially in developing countries. Central banks and governments worldwide have unleashed at least $15 trillion of stimulus via bond-buying and budget spending …

The US Treasury secretary says the unemployment rate reported by the government is likely to get worse amid lockdown measures put in place due to the coronavirus pandemic. Steven Mnuchin made the comments on Sunday after the US Labor Department announced last week that the unemployment rate had surged to …

The UK economy is heading for its worst crash in more than 300 years because of the coronavirus pandemic, according to a new forecast from the Bank of England. The central bank said Thursday that the British economy could shrink by 14% this year. That would be the biggest annual …

Wall Street’s main stock indexes opened higher on Tuesday as oil prices staged a recovery and a slew of countries eased coronavirus-led restrictions in an attempt to revive economic activity. The Dow Jones Industrial Average .DJI rose 209.12 points, or 0.88%, at the open to 23,958.88. The S&P 500 .SPX …

The Iranian Parliament on Monday voted for the details of a government monetary reform bill which will change the country’s currency name and drop four zeros from banknotes. Under the new law, which will come into effect after the final approval of the Guardian Council, the national currency unit will …

The eurozone economy shrank at the sharpest pace on record in the first quarter as the Covid-19 pandemic forced countries into lockdown. The first estimate of GDP between January and March showed a contraction of 3.8%, worse than during the financial crisis. Separate figures revealed a steep fall in economic …

Wall Street looked set to jump at open on Wednesday after Gilead Sciences (GILD.O) reported an encouraging update on a potential COVID-19 treatment, while upbeat earnings reports from Google-parent Alphabet and Boeing boosted the mood. Gilead Sciences Inc (GILD.O) jumped 9.3% in premarket trading after the drugmaker said its experimental …

Oil prices fell on Tuesday with U.S. crude leading the decline, falling about 3% as domestic stockpiles were expected to have risen closer to record highs amid tightening storage despite plans to cut production. However, the markets were supported on hopes of demand recovering as across the world, governments announced …

The United States on Monday posted rule changes that impose new restrictions on exports to China, including on civil aircraft components and items related to semiconductors. The new rules will require licenses for U.S. companies to sell certain items to military entities in China even if they are for civilian …

Stock markets struggled on Friday as hopes of quickly finding a treatment for coronavirus were dashed, analysts said, and more crushing economic data delivered a body blow to confidence. Reports said initial trials of the remdesivir coronavirus drug being developed by Gilead Sciences had flopped. Investors were “reacting badly” to …

A further 4.4 million Americans sought unemployment benefits last week as the economic toll from the coronavirus pandemic continued to mount. The new applications brought the total number of jobless claims since mid-March to 26.4 million. That amounts to more than 15% of the US workforce. However, the most recent …