LONDON—Oil prices fell on Monday after a revolt by Russian mercenaries over the weekend, though the political instability did not appear to pose an immediate threat to oil supply from one of the world’s largest producers. Brent crude futures were down 8 cents, or 0.1 percent, at $73.77 a barrel by 0900 GMT. U.S. West…
Stock Market Today: Global Shares Decline After Armed Rebellion Quelled in Russia
June 26, 2023
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TOKYO—Global shares mostly fell Monday after a short-lived armed rebellion in Russia added to uncertainties over the war in Ukraine. France’s CAC 40 dipped 0.4 percent in early trading to 7,135.23. Germany’s DAX slipped 0.2 percent to 15,797.27. Britain’s FTSE 100 fell 0.8 percent to 7,403.10. The futures for the Dow Jones Industrial Average and…
Euro Slides on Weak Business Data; Hawkish Central Banks Boost Dollar
SINGAPORE—The euro fell after the bloc’s business growth virtually stalled this month, as the dollar drew support from a bout of risk aversion on Friday and hawkish comments from global central banks, including the Federal Reserve. The dollar index, which measures the currency against six others, was up 0.56 percent at 102.95, reversing three straight…
Oil Resumes Slide on Demand Worries After Latest Rate Hikes
June 23, 2023
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LONDON—Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower U.S. crude stocks and other signs of tighter supplies. Both crude benchmarks had dropped about $3 on Thursday after the Bank of England raised interest…
Stock Market Today: Asian Shares Sink as Central Banks Crank Interest Rates Still Higher
June 23, 2023
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BANGKOK—Asian shares sank sharply Friday after several central banks around the world cranked interest rates higher in their fight against inflation. Hong Kong and Tokyo shed nearly 2 percent and most other regional markets declined. U.S. futures and oil prices also were lower. Japan reported its inflation rate was higher than expected, adding to expectations…
Swiss Franc Falls, Norwegian Crown Surges After SNB, Norges Hikes
LONDON—The Swiss franc fell on Thursday after the Swiss National Bank (SNB) hiked its benchmark interest rate, while the Norwegian crown surged after a bolder Norges Bank move. The SNB raised its benchmark interest rate by 25 basis points to 1.75 percent, defying some market expectations of a bigger increase. Despite an easing in Swiss…
Oil Dips With Interest Rates and Inventories in Focus
June 22, 2023
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LONDON—Oil futures dipped slightly on Thursday, with trader expectations of further interest rate hikes countered by potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks. Brent futures eased by 47 cents, or 0.6 percent, to $76.65 a barrel at 0840 GMT and U.S. West Texas Intermediate (WTI) crude futures were…
Shares Ease, Dollar Steady in Central-Bank Heavy Day
June 22, 2023
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LONDON/SINGAPORE—Global shares eased on Thursday after Federal Reserve Chair Jerome Powell indicated U.S. rates had further room to rise, while the dollar held steady against the pound ahead of the Bank of England’s decision on monetary policy later on. The MSCI All-World index was down 0.1 percent, heading for a fifth straight day of declines,…
Dollar Firm Ahead of Powell Testimony, Sterling Falls After Inflation Data
SINGAPORE/LONDON—The dollar was firmer on Wednesday leading into Federal Reserve Chair Jerome Powell’s appearance before Congress, where he is expected to strike a hawkish tone, while sterling slipped after hotter-than-expected British inflation data. The annual pace of British consumer price gains was steady at 8.7 percent in May, against hopes it had cooled since April….
Oil Holds Steady Ahead of Powell’s Congressional Testimony
LONDON—Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell’s congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week. Brent futures were flat at $75.90 a barrel by 0929 GMT and U.S. West Texas Intermediate…
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