This week’s supply report from the U.S. EIA on Wednesday showed gasoline stockpiles dropped less than predicted while distillate stockpiles increased against expectations of a drop, reflecting signs of slowing demand Oil steadied on Thursday after settling lower the previous day as signs of retreating fuel demand in the U.S., the world’s largest oil user, contended with risk of a widening conflict in the Middle East. This week’s supply report from the U.S. Energy Information Administration (EIA) on Wednesday showed gasoline stockpiles dropped less than predicted while distillate stockpiles inc ..read more

The pan-European Stoxx 600 index dropped 0.43% at 505.61 by the end of trading European shares recorded slight losses on Wednesday with investors seemingly taking their cue from a weak start to the session in the US amid the latest raft of company results. The pan-European Stoxx 600 index dropped 0.43% at 505.61 by the end of trading. Germany’s Dax meanwhile dropped 0.27% to 18,088.70, alongside an identical move lower for the FTSE Mib to 34,217.12. Cautious remarks from the head of Germany’s central bank also weighed on investor sentiment. Joachim Nagel, president of Germany’s Bundesbank, sai ..read more

The pan-European Stoxx 600 added 1.11% to reach 507.89, as the DAX advanced 1.58% to 18,142.58, CAC 40 rose 0.87% to settle at 8,110.41 and the FTSE 100 rose 0.26%, touching 8,044.81 European markets closed above the waterline on Tuesday, driven by positive survey data from the eurozone that bolstered investor sentiment. The pan-European Stoxx 600 added 1.11% to touch 507.89, as the DAX in Germany advanced 1.58% to 18,142.58, while France’s CAC 40 rose 0.87% to settle at 8,110.41. In London, the FTSE 100 managed a modest increase of 0.26%, touching 8,044.81. London’s top-flight index hit a fre ..read more

The euro, which jumped broadly after stronger than expected business activity data in France and Germany, hit 165.62 yen, its highest since 2008 The yen hit new multi-year lows against the dollar and the euro on Tuesday, keeping investors on heightened intervention watch ahead of the Bank of Japan’s meeting this week, while dovish policy maker chatter left sterling around its softest in months. The euro, which jumped broadly after stronger than expected business activity data in France and Germany, hit 165.62 yen, its highest since 2008. That is a combination of the stronger euro today, with t ..read more

The MSCI All-World index, which on Friday reached a two-month low, was up 0.2%, lifted by gains in Europe, where the FTSE 100 reached a record high, while the STOXX 600 traded at one-week highs Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is on earnings reports from the U.S. megacaps, while the yen reached a fresh 34-year low against the dollar, prompting a warning from Japanese officials. The MSCI All-World index, which on Friday reached a two-month low, was up 0.2%, lifted by gains in Europe, where the FTSE 100 reached a record high, while the STOX ..read more

The STOXX 600 index advanced 0.6%, bouncing back from last week’s selloff sparked by geopolitical fears as well as concerns that the Fed will delay interest rate cuts European stocks ended higher on Monday, with British blue-chips nearing record levels as investors took comfort from easing tensions in the Middle East and looked ahead to earnings from European banks and U.S. tech giants later this week. The STOXX 600 index advanced 0.6%, bouncing back from last week’s selloff sparked by geopolitical fears as well as concerns that the Fed will delay interest rate cuts. The main European regional ..read more

Shares gained on Monday, with the STOXX 600 0.25% higher and S&P 500 futures up 0.36% after MSCI’s broadest index of Asia Pacific shares outside Japan added 0.8% World stocks recovered some losses on Monday and bonds, oil and gold slipped as investors reversed some of their more defensive positions taken going into the weekend on concerns of a wider Middle East conflict. The week ahead is packed with corporate earnings, with 158 firms in the S&P 500 and 173 firms in the STOXX 600 reporting first quarter results this week as per data from LSEG workspace. These include several big Europe ..read more

A cooling in Middle East tensions, which had driven the dollar, gold and crude oil prices sharply higher on Friday and battered stock markets, also helped temper volatility The euro and yen barely moved in Asian trading on Monday and the U.S. dollar was perched just off five-month highs after last week’s hectic policy and geopolitical developments. Eyes are on the yen this week, with the Bank of Japan’s Friday policy review the notable item on the economic calendar. The yen reached 154.70 per dollar, not far from last week’s 34-year low of 154.79 and close enough to the 155-level that is next ..read more

The Dow Jones Industrial Average stayed just above the flatline, while the Nasdaq Composite slid 0.5%, extending tech’s recent decline US stocks closed largely in the red on Thursday as April’s doldrums lingered in the market. The S&P 500 dropped nearly 0.2% to notch its fifth consecutive session of declines, its longest losing streak of the year. The Dow Jones Industrial Average (DJIA) stayed just above the flatline, while the Nasdaq Composite slid 0.5%, extending tech’s recent decline. Stocks have struggled amid concerns inflation is no longer cooling and the Fed could ease back on inter ..read more

Bullion’s upside came despite data showing U.S. weekly jobless claims were unchanged at low levels last week Safe-haven gold rose on Thursday as ongoing tensions in the Middle East added to the metal’s appeal despite robust economic data from the U.S. that raised prospects of fewer interest rate cuts. Spot gold strengthened 1% at $2,384.83 per ounce at 1747 GMT. Prices hit an all-time high of $2,431.29 last Friday. U.S. gold futures settled 0.4% higher at $2,398. In the Middle East, Israel has indicated it will retaliate to attacks from Iran despite calls for restrain from other countries but ..read more