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Wall Street edged up to a record high on Wednesday as gains in consumer discretionary and energy stocks offset losses in technology heavyweight Apple Inc.Asian stocks inched down from 10-year highs on Thursday following a burst of Chinese data which was largely weaker than markets expected.
MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent after rising to its highest since 2007 the day before. China stocks dipped into the red after the data, giving up modest early gains.
In the Middle East, shares of Saudi Arabia's top food producers, Savola and Almarai, fell on Wednesday after Savola said it was selling a 2 percent stake in the dairy maker.The Riyadh index fell 0.3 percent with Savola declining 1.8 percent to 46.55 riyals, after initially surging to an intra-day high of 49.60 riyals in the opening minutes of the session.
Abu Dhabi's index slipped 0.4 percent, weighed down by declines in blue chips; Abu Dhabi Commercial Bank fell 2.1 percent. But Dana Gas, the most heavily traded stock, climbed 1.3 percent.
In Dubai, the index closed almost flat.
In currencies, the U.S. dollar’s rally paused on Thursday as traders waited for consumer inflation data later in the day for clues on whether the Federal Reserve will maintain its gradual pace of credit tightening.
In commodities, oil prices eased on Thursday, but held on to most of their gains in the previous session when the market was buoyed by a forecast for firmer global oil demand by the International Energy Agency.London Brent crude for November delivery was down 13 cents, or 0.2 percent, at $55.03 a barrel by 0247 GMT, after rising 1.6 percent on Wednesday.NYMEX crude for October delivery was down 9 cents, or 0.2 percent, at $49.21, after a 2.2 percent gain in the previous session.
Gold edged down early on Thursday to hover around its lowest in nearly two weeks, with investors turning their attention to U.S. consumer inflation data later in the day for clues on the timing of further interest rate hikes.
In other news, Tunisia's deficit widened in the first eight months of this year by 22 percent compared with the same period last year to reach 10.07 billion dinars ($4.15 billion), the State Statistics Institute said on Wednesday.
Egypt's gross domestic product grew by 4.2 percent in the 2016-2017 fiscal year that ended in June, the planning minister said on Wednesday.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent after rising to its highest since 2007 the day before. China stocks dipped into the red after the data, giving up modest early gains.
In the Middle East, shares of Saudi Arabia's top food producers, Savola and Almarai, fell on Wednesday after Savola said it was selling a 2 percent stake in the dairy maker.The Riyadh index fell 0.3 percent with Savola declining 1.8 percent to 46.55 riyals, after initially surging to an intra-day high of 49.60 riyals in the opening minutes of the session.
Abu Dhabi's index slipped 0.4 percent, weighed down by declines in blue chips; Abu Dhabi Commercial Bank fell 2.1 percent. But Dana Gas, the most heavily traded stock, climbed 1.3 percent.
In Dubai, the index closed almost flat.
In currencies, the U.S. dollar’s rally paused on Thursday as traders waited for consumer inflation data later in the day for clues on whether the Federal Reserve will maintain its gradual pace of credit tightening.
In commodities, oil prices eased on Thursday, but held on to most of their gains in the previous session when the market was buoyed by a forecast for firmer global oil demand by the International Energy Agency.London Brent crude for November delivery was down 13 cents, or 0.2 percent, at $55.03 a barrel by 0247 GMT, after rising 1.6 percent on Wednesday.NYMEX crude for October delivery was down 9 cents, or 0.2 percent, at $49.21, after a 2.2 percent gain in the previous session.
Gold edged down early on Thursday to hover around its lowest in nearly two weeks, with investors turning their attention to U.S. consumer inflation data later in the day for clues on the timing of further interest rate hikes.
In other news, Tunisia's deficit widened in the first eight months of this year by 22 percent compared with the same period last year to reach 10.07 billion dinars ($4.15 billion), the State Statistics Institute said on Wednesday.
Egypt's gross domestic product grew by 4.2 percent in the 2016-2017 fiscal year that ended in June, the planning minister said on Wednesday.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here.
