|17 October, 2019

Thursday outlook: Oil drops, Asian shares pause, gold steadies

Global benchmark Brent crude oil futures was down by 47 cents, or 0.8 percent, at $58.95 a barrel by 0330 GMT

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019.

REUTERS/Eduardo Munoz

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Oil prices fall on signs of large U.S. stock build
Oil prices eased on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal.

Asian shares pause after five-day rally, Brexit in focus
Asian stocks barely moved on Thursday as soft U.S. retail sales data raised fears about the health of the world’s largest economy, sucking the steam out of a five-session rally, while hopes of a Brexit deal kept sterling volatile.

Mideast Stocks: Property shares boost Egypt, most Gulf markets trade up
A rebound in real estate shares lifted Egypt's blue-chip stock index on Wednesday, while most major Gulf markets rose marginally.

Gold steady as disappointing U.S. retail sales weigh on risk appetite
Gold prices held steady on Thursday as weak United States retail sales data fanned concerns that the country's economy may be feeling the pinch of the long-drawn trade war with China, while palladium held close to a record high hit the previous day.


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