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01 June 2017
Oil futures rose on Thursday after slumping to a three-week low in the previous session, buoyed by a report from an industry body that showed U.S. crude stockpiles had fallen more than expected.Brent crude futures for July were up 40 cents at $51.16 a barrel by 0245 GMT.U.S. West Texas Intermediate crude CLc1 futures were up 38 cents at $48.71 a barrel.
Sterling retreated on Thursday on fears that Prime Minister Theresa May could lose control of parliament in Britain's June 8 election, while conflicting signals on the health of China's manufacturing sector kept most Asian stock markets in check.MSCI's broadest index of Asia-Pacific shares outside Japan was flat after four sessions of losses as investors took profits after stocks hit a two-year high last week and as economic and geopolitical concerns continued to weigh on sentiment.
A sharp drop in property developer Ezdan Holding rippled across Qatar's stock market on Wednesday while profit-taking in blue chips dragged Abu Dhabi lower, although Dana Gas jumped on hopes for payments from the Kurdistan Regional Government.Shares in Ezdan, Qatar's largest listed developer, tumbled by a further 9.3 percent. They have plunged since the end of last week, when shareholders gave preliminary approval for the company to delist.
Gold held steady on Thursday after hitting a five-week high in the previous session on geopolitical tensions, but expectations the U.S. Federal Reserve will hike interest rates next month weighed on prices.
In the latest news, Middle East fund managers have turned bearish towards equities in the United Arab Emirates for the first time in more than two years because of low trading volumes and financial pressure on some companies, a monthly Reuters poll showed on Wednesday.
San Francisco Federal Reserve Bank President John C. Williams said on Thursday he sees a total of three interest rate increases for this year as his baseline scenario, but views four hikes as also being appropriate if the U.S. economy gets an unexpected boost.
The Bank of Japan will not face big losses in the long run when it eventually begins to tighten monetary policy, board member Yutaka Harada said on Thursday, seeking to address concerns of some market players.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
Oil futures rose on Thursday after slumping to a three-week low in the previous session, buoyed by a report from an industry body that showed U.S. crude stockpiles had fallen more than expected.Brent crude futures for July were up 40 cents at $51.16 a barrel by 0245 GMT.U.S. West Texas Intermediate crude CLc1 futures were up 38 cents at $48.71 a barrel.
Sterling retreated on Thursday on fears that Prime Minister Theresa May could lose control of parliament in Britain's June 8 election, while conflicting signals on the health of China's manufacturing sector kept most Asian stock markets in check.MSCI's broadest index of Asia-Pacific shares outside Japan was flat after four sessions of losses as investors took profits after stocks hit a two-year high last week and as economic and geopolitical concerns continued to weigh on sentiment.
A sharp drop in property developer Ezdan Holding rippled across Qatar's stock market on Wednesday while profit-taking in blue chips dragged Abu Dhabi lower, although Dana Gas jumped on hopes for payments from the Kurdistan Regional Government.Shares in Ezdan, Qatar's largest listed developer, tumbled by a further 9.3 percent. They have plunged since the end of last week, when shareholders gave preliminary approval for the company to delist.
Gold held steady on Thursday after hitting a five-week high in the previous session on geopolitical tensions, but expectations the U.S. Federal Reserve will hike interest rates next month weighed on prices.
In the latest news, Middle East fund managers have turned bearish towards equities in the United Arab Emirates for the first time in more than two years because of low trading volumes and financial pressure on some companies, a monthly Reuters poll showed on Wednesday.
San Francisco Federal Reserve Bank President John C. Williams said on Thursday he sees a total of three interest rate increases for this year as his baseline scenario, but views four hikes as also being appropriate if the U.S. economy gets an unexpected boost.
The Bank of Japan will not face big losses in the long run when it eventually begins to tighten monetary policy, board member Yutaka Harada said on Thursday, seeking to address concerns of some market players.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
