The huge global oil oversupply that has weighed on prices for the past two years may not clear until the second half of 2017, Shell’s chief energy adviser Wim Thomas told Reuters. The potential return to the market of some 1.5 million barrels per day of supply from Libya and Nigeria and uncertainty about Iranian […]
Aug 23 Euro zone private business activity was stable in August, albeit at a muted level, but factories possibly face a tougher September as new order growth stumbled, a survey showed on Tuesday. Muddying the outlook for the coming months is the United Kingdom’s vote in late June to leave the European Union, although so […]
The British pound fell for a fifth day, weighed down by a loosening monetary policy, as New Zealand’s dollar retreated with commodities. Asian shares climbed to a one-year high as Chinese inflation data added to signs of stabilization in the world’s second-largest economy. Sterling slipped to a four-week low after the Bank of England stepped […]
Oil prices remained weak on Wednesday, with U.S. crude below $40 per barrel and Brent under $42, as fuel oversupply and stuttering economic growth weighed on markets, although prices did receive some support from a weaker dollar. U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading at $39.54 per barrel at 0651 GMT (2:51 […]
Britain’s divorce from the European Union is not going to be easy given there is no precedent and no planning was done before the historic referendum result. A bit more than one month on, here’s what we know — and what we still have to find out — about the key issues facing investors and […]
Profit taking weighed on Asian stocks on Wednesday after a record run on Wall Street showed signs of petering out, while the dollar hovered near a four-month high against a basket of currencies following upbeat U.S. data. Investors’ risk appetite, which has recovered rapidly from the Brexit shock late in June, received a sobering reminder […]
The big question for pound traders may have been answered, but the outlook for the currency is murkier than ever. Sterling dropped 3 percent to $1.3275 at 11:05 a.m. in London on Monday, after reaching a three-decade low of $1.3222 that surpassed its weakest level reached in the immediate aftermath of the vote to leave […]
Sterling hit a seven-week high against the dollar on Tuesday on expectations Britons will vote to stay in the European Union but stocks failed to build on the previous day’s gains as this week’s referendum kept many investors cautious. Two opinion polls published on Monday put the “Remain” camp ahead before Thursday’s vote but another […]
It’s been a nightmarish year for big banks. And the beating might not be over yet. Stocks of Bank of America, Citigroup and Goldman Sachs all took another hit on Friday, deepening their 2016 slumps further into double-digit territory. Banks have been among the worst performers on the day, dragging the Dow down over 100 […]
Europe’s benchmark government bond, the 10-year German Bund, had a zero yield firmly in its sights on Friday as worries about a potential British exit from the EU and weakened U.S. rate hike expectations extended the week’s global bond rally. Investors sought refuge in safe-haven assets amid festering concerns over the June 23 Brexit referendum, […]