Japan’s Nikkei index rose on Monday to a four-week high, amid an improvement in investor sentiment on the back of calm in the bond market after the Bank of Japan’s sudden policy adjustment and optimism over slowing inflation in the United States. The results of some companies led to an …
Read More »European stocks fell ahead of Eurozone inflation data
European stocks fell on Monday ahead of data expected to show inflation slowing in the euro zone in July, likely supporting expectations that the European Central Bank will keep interest rates unchanged in September. The pan-European Stoxx 600 index fell 0.1% by 0714 GMT, but looked set to record gains …
Read More »Goldman Sachs adjusts its forecast for oil demand upwards
Goldman Sachs revised upward its forecast for global oil demand for this year, but kept its 12-month Brent crude price forecast at $93 a barrel, as increased inventories offset the support demand received from ebbing pessimism about the growth outlook. Goldman Sachs analysts estimated a jump in global oil demand …
Read More »Oil is heading for its biggest monthly gain in more than a year
Oil prices hovered near a three-month high on Monday and were on track for their biggest monthly gain in more than a year amid expectations that Saudi Arabia will extend voluntary output cuts into September and global supplies tighten. By 0005 GMT, Brent crude futures fell 9 cents to $84.90 …
Read More »Russia is preparing to use the ruble to settle its agricultural exports
Russian Deputy Prime Minister Victoria Abramchenko said Friday (July 28th) that her country will urge buyers of its agricultural exports to pay in rubles instead of dollars as a way to get around Western sanctions. She stated that the government is preparing a draft decree that would enable buyers to …
Read More »The French economy exceeds expectations, recording a growth of 0.5% in Q2
The French economy grew by 0.5% in the second quarter of this year, exceeding expectations, driven by exports while household consumption declined, according to the National Institute of Statistics and Economic Studies. This first estimate of the Institute came higher than the estimated growth forecast of 0.1% for the period …
Read More »European stocks are declining, pressured by mixed corporate results and high bond yields
European stocks retreated on Friday from multi-month highs hit during the previous session, as investors digested a mixed batch of corporate earnings reports and bond yields rose after the Bank of Japan adjusted monetary policy. And by 0716 GMT, the pan-European STOXX 600 index was down 0.3%, having closed on …
Read More »Gold is heading to record a weekly loss, under pressure from US data and interest rates
On Friday, gold prices recovered slightly from their lowest levels in two weeks, after strong US economic data caused a wave of selling in the previous session, and as the atmosphere dominated by interest rates pushed the yellow metal towards its biggest weekly loss in five weeks. Spot gold rose …
Read More »Toyota global sales increased by 5.1% to 4.9 million in the first half of 2023
Japanese automaker Toyota Motor said on Friday that its sales increased 5.1 percent in the first half of 2023 compared to the same period last year, thanks to the easing of semiconductor supply restrictions and, in particular, strong demand in Japan. The company sold about 4.9 million vehicles globally in …
Read More »Oil prices open lower on demand concerns
Oil prices fell in early Asian trading on Friday after concerns about demand offset the impact of strong economic data. Brent crude was down 59 cents, or 0.7 percent, at $83.65 a barrel by 0027 GMT, but was on track for a weekly increase of 5 percent. US West Texas …
Read More »