PHOTO
23 May 2017
Sterling extended losses on Tuesday after an explosion killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester.The impact on other areas of the market was limited, with Britain's FTSE futures up 0.1 percent, while S&P E-mini futures slipped 0.1 percent.
The euro hit a six-month high overnight after German Chancellor Angela Merkel said the currency, made "too weak" by the European Central Bank's monetary policy, helped explain Germany's relatively high trade surplus.
Overnight, Wall Street closed as much as 0.8 percent higher, driven by defense and technology stocks, after U.S. President Donald Trump announced arms deals and other investments with Saudi Arabia over the weekend that Secretary of State Rex Tillerson said could add up to $350 billion.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent on Tuesday to be near its highest level since June 2015.
Egypt's stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf.
Cairo's blue-chip index dropped 2.5 percent after the central bank hiked its overnight deposit rate and overnight lending rate by two percentage points - its first increase since a hike of three percentage points in November.
Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market.Brent crude futures were trading down 23 cents, or 0.4 percent, at $53.64 per barrel at 0450 GMT.U.S. West Texas Intermediate (WTI) futures were at $50.91, down 22 cents, or 0.4 percent.
Gold prices were steady on Tuesday despite a blast at a concert in the English city of Manchester that left at least 19 people dead.
In the latest news, OPEC Secretary-General Mohammad Barkindo said on Monday he saw a growing consensus among the group's members as well as non-OPEC producers on the duration of oil cuts extension.OPEC will meet on Thursday to decide on its production policies after June.
Pop star Ariana Grande said on Monday she was "broken" five hours after a bombing killed at least 19 people and wounded dozens of others at her concert in Manchester, England.Making her first comment since an explosion detonated just outside Manchester Arena at the end of her performance there, Grande said on Twitter: "broken. from the bottom of my heart, i am so so sorry. i don't have words."
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
Sterling extended losses on Tuesday after an explosion killed at least 19 people and wounded 50 at a pop concert in the English city of Manchester.The impact on other areas of the market was limited, with Britain's FTSE futures up 0.1 percent, while S&P E-mini futures slipped 0.1 percent.
The euro hit a six-month high overnight after German Chancellor Angela Merkel said the currency, made "too weak" by the European Central Bank's monetary policy, helped explain Germany's relatively high trade surplus.
Overnight, Wall Street closed as much as 0.8 percent higher, driven by defense and technology stocks, after U.S. President Donald Trump announced arms deals and other investments with Saudi Arabia over the weekend that Secretary of State Rex Tillerson said could add up to $350 billion.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent on Tuesday to be near its highest level since June 2015.
Egypt's stock market tumbled in heavy trade on Monday after the central bank unexpectedly raised key interest rates overnight, while Qatar outperformed in an otherwise quiet Gulf.
Cairo's blue-chip index dropped 2.5 percent after the central bank hiked its overnight deposit rate and overnight lending rate by two percentage points - its first increase since a hike of three percentage points in November.
Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market.Brent crude futures were trading down 23 cents, or 0.4 percent, at $53.64 per barrel at 0450 GMT.U.S. West Texas Intermediate (WTI) futures were at $50.91, down 22 cents, or 0.4 percent.
Gold prices were steady on Tuesday despite a blast at a concert in the English city of Manchester that left at least 19 people dead.
In the latest news, OPEC Secretary-General Mohammad Barkindo said on Monday he saw a growing consensus among the group's members as well as non-OPEC producers on the duration of oil cuts extension.OPEC will meet on Thursday to decide on its production policies after June.
Pop star Ariana Grande said on Monday she was "broken" five hours after a bombing killed at least 19 people and wounded dozens of others at her concert in Manchester, England.Making her first comment since an explosion detonated just outside Manchester Arena at the end of her performance there, Grande said on Twitter: "broken. from the bottom of my heart, i am so so sorry. i don't have words."
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
