U.S. Stocks Near Record Highs, Oil Falls
Oil prices fall over 1 pct on supply concerns. U.S. stock prices rose on Monday, with the Dow Jones Industrial Average and S&P 500 hovering near record highs amid upbeat company earnings, while oil fell on worries about growing supply and traders brushing off a failed coup in Turkey. As Turkish authorities sought to retaliate for a bid by a faction of the armed forces to seize power, traders pared safe-haven holdings of yen, gold and low-risk government bonds. "We're now on to the next shiny new object and that's earnings season," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. Bank of America, the No. 2 U.S.
Oil Tops $50, Lifting Commodity Stocks
Brent oil tops $50/barrel first time in nearly 7 months. Brent crude oil topped $50 a barrel for the first time in nearly seven months on Thursday, lifting commodity and energy-related shares in Europe and Asia, though worries about U.S. interest rates and signs of slowdown in China limited gains. Oil's rise took it to levels more than 80 percent above January's 12-year lows and was fuelled in part by a weaker dollar, which fell against the Japanese yen. European shares edged higher, led by the basic resources and oil and gas sectors. The pan-European FTSEurofirst 300 index rose 0.1 percent, pushing on from a four-week high hit on Wednesday.
Oil, Stocks Climb as Investors Look to Fed
Better-than-expected BP earnings lift European stocks; oil prices recover on weaker dollar, new cash. World stocks climbed for the first time in four days on Tuesday and a weaker dollar helped oil prices gain too, as investors fine-tuned their expectations for monetary policy meetings in the United States and Japan. European shares also benefited from a less-bad-than-expected 80 percent first quarter profit fall and an unchanged dividend from BP, as well as encouraging results from UPM . With the quarterly earnings season in full swing, investors were awaiting an update from the world's biggest company, Apple .
Yen Drops on Rate Cut Talk; Oil Climbs
The U.S. dollar rose to a three week high against the yen on Friday, on a report of likely further monetary policy easing from the Bank of Japan, while a rise in crude oil prices was offset by poor technology sector earnings, leaving Wall Street stocks steady. The dollar rose more than 2.0 percent against the yen to 111.80 yen, its highest level since April 1 after a media report said the BOJ is considering expanding its negative rate policy to bank loans and could cut rates further. A rise in oil prices helped energy stocks, but disappointing earnings from top technology companies…
Oil Falls on Fading Supply Freeze Prospects
Oil dips as expectations of steps to curb supply fade. Oil prices hit one-month lows as prospects of top exporters agreeing to curb chronic oversupply faded, while other commodities also lost ground as the dollar steadied after Friday's strong U.S. data. Wall Street looked set to open higher, according to index futures , after shares rose sharply in Europe and modest gains in Asia. Brent crude, the international benchmark, fell as far as $38.18, its lowest since March 4, before recovering to trade up 18 cents at $38.85. Prices have fallen from above $100 a barrel since mid-2014 on a supply glut, troughing at $27.10 in late January.
Stocks, Dollar Drift Ahead of Yellen Speech; Oil Drops
Crude oil prices continued to fall on Tuesday as oversupply fears resurfaced, while stocks and the U.S. dollar were little changed ahead of a widely anticipated speech by Federal Reserve Chair Janet Yellen. Yellen, due to speak at the Economic Club of New York at 12:20 p.m. EDT (1620 GMT), may offer hints on the central bank's latest thinking weeks after the Fed forecast two further interest-rate hikes this year, down from a forecast of four following its December meeting. On Wall Street, energy stocks weighed the most on the benchmark S&P 500…
Crude Drops; shares Flat with Eyes on Central Banks
Brent crude drops below $40 a barrel. A gauge of stocks across the globe ticked up on Monday, with Wall Street buoyed by consumer stocks and Europe up on a positive view of the auto industry. Oil prices fell as Iran dashed hopes of a coordinated production freeze any time soon, returning the focus to the crude supply glut that has sent prices crashing. Attention switches this week to policy decisions from the Bank of Japan (BOJ), the U.S. Federal Reserve and the Bank of England, among others. They follow last week's interest rate cut, asset-purchase program extension and new cheap loans for banks pledge at the European Central Bank.
Oil Deal Optimism Fuels Rally in Crude, Global Stocks
Global equity markets rallied on Wednesday, buoyed by a jump in oil prices on optimism that top crude producers could reach a deal to freeze production, while the Mexican peso surged after Mexico's central bank hiked its benchmark interest rate. After a surprise agreement deal between non-OPEC Russia and the group's leader Saudi Arabia to freeze output at January levels, Iran stopped short of offering to hold back output as it wants to recoup market share it lost during years of sanctions. Brent LCOc1 gained 7.6 percent at $34.64 and U.S. crude CLc1 was up 6.5 percent at $30.92 a barrel.
Oil, Stocks Surge on Oil Rally Hopes
European stocks, oil drive risk rally; Credit Agricole, Glencore the big movers. Oil and stocks jumped on Wednesday, as European earnings and hope that top oil producers will convince Iran to agree to a production freeze overcame initial caution in Europe. Banks and resources stocks led the way, with French bank Credit Agricole soaring 12 percent after publishing its latest results and UK-listed miner Glencore up 10 percent after announcing the refinancing of its debt. Investors' appetite for risk eventually seeped through to currencies and fixed income markets…
BP Reports Biggest Ever Annual Loss
BP shares slide 8 pct after results miss forecasts. BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade. The British oil and gas company, which is still grappling with about $55 billion of costs from the oil spill in the Gulf of Mexico in 2010, said it would cut 7,000 jobs by the end of 2017, or nearly 9 percent of its workforce. BP said it lost $6.5 billion in 2015 and its fourth-quarter underlying replacement cost profit…
Stocks, Oil Rally; Cold Snap Supports Energy Demand
Oil prices and world stock markets jumped on Friday, providing some relief to bruised investors as frigid weather across the United States and Europe boosted energy demand. Brent crude oil, which tumbled in recent weeks on worries about oversupply, settled 10 percent higher and above $32 a barrel in one of the biggest daily rallies ever. Traders cashing in short positions lifted prices along with the higher short-term demand. The benchmark S&P 500 U.S. equity index rallied 2 percent and registered its first positive week of 2016 thanks to the bounce in oil.
Oil plummets to $29
Oil prices plummeted to $29 a barrel on Friday on the likely resumption soon of Iranian oil exports into an already flooded market as international sanctions against Iran are lifted, dragging equity indices around the world sharply lower. Skittish investors snapped up gold and other safe-haven assets amid fears of a global economic slowdown, coupled with concerns about a potential credit default as lower commodity prices make payments by creditors in emerging markets difficult. Major stock indices in Europe closed down more than 2 percent, while Wall Street stock indexes tumbled even more.
Wall St Drops with Oil near 7-year Low; Europe Stocks Up
Oil prices skidded to their lowest level in nearly seven years on Monday, hurting the shares of major oil companies on Wall Street as a global glut showed no signs of abating, while European stocks benefited from a weaker euro. Brent crude prices fell to $41.20, their lowest since February 2009, after a meeting of members of the Organization of the Petroleum Exporting Countries Friday ended in disagreement over production cuts and without a reference to its output ceiling. Oil majors Exxon, down 3 percent, and Chevron , which fell 2.9 percent, were the biggest drags on the U.S. Dow and benchmark S&P 500 indexes.
Shares Rise, Euro Slumps as ECB Hints at Fresh Stimulus
Stocks in major markets gained on Friday, with the benchmark U.S. index poised for its best week in a year, while the euro lost ground against the dollar as Europe's central bank said it was ready to act quickly to boost inflation. U.S. crude dipped to its lowest level in about three months amid persistent oversupply concerns. The S&P 500 index was on track for its best weekly gains in a year, while markets in Frankfurt and Tokyo edged higher, as European Central Bank President Mario Draghi offered the strongest hint yet that bank will unveil fresh stimulus measures at its Dec. 3 meeting.
Oil slides, Stocks drop; Paris attacks add to Jitters
Global stock indexes fell amid disappointing company results and forecasts, while oil prices registered their biggest weekly loss in eight months on swelling storage of crude. U.S. stock index futures hit session lows after the close on Friday after France was rocked by multiple, near simultaneous attacks around Paris. French media said at least 60 people were killed and hostages were being held in a concert hall in the capital on Friday evening. S&P 500 e-mini futures were down 22 points in light volume. Weaker-than-expected U.S. October retail sales weighed on U.S.
Oil Plunges 4 pct to 6-1/2-year Low on China
U.S. crude reaches lowest point since February 2009; China equities collapse sparks global markets sell-off. Oil prices fell more than 4 percent to fresh 6-1/2-year lows on Monday after Chinese stock markets suffered their biggest one-day drop since the global financial crisis, intensifying worries over the outlook for global oil demand. Inaction by the Chinese government following an 11 percent rout in local stock markets last week encouraged a free-fall in global equities and other commodities on Monday. As a consequence, losses on the pan-European FTSEurofirst 300 index for this month added up to as much as 1 trillion euros.
Stronger Oil May Lift Gulf Markets; Arabtec May Fall on Poor Q4
Gulf markets may rise on Sunday, catching up with Friday's global rally in oil and equities prompted by a weaker dollar, but Dubai builder Arabtec may come under pressure after swinging to a fourth-quarter loss and cutting dividends. Brent rose 1.6 percent to $55.32 per barrel on Friday while U.S. crude futures for April delivery jumped 4 percent to settle at $45.72 as the dollar posted its biggest weekly decline against the euro in more than three years. A dovish message from the U.S. Federal Reserve last week also fuelled risk appetite among global investors, who started snapping up equities again.
Euro and Oil Resume Fall
The euro fell on Friday, continuing the slide that saw the currency finish out 2014 at a 29-month low against the U.S. dollar, on expectations that the European Central Bank will soon embark on outright money-printing. Crude prices fell in a volatile session, while equities as measured by a global index lost ground. Wall Street's equity benchmark ended a choppy day barely changed, with gains in energy and high-dividend stocks offsetting declines in consumer-centered shares. The S&P 500 on Wednesday closed out trading for 2014 with a third consecutive year of double-digit percentage gains, though it ended about 1 percent below its all-time closing high.
Energy Stock Slide Sends Europe Shares Lower
European equities turned negative on Wednesday, as a fresh fall in the price of Brent crude oil hit energy stocks. Brent sank 2.6 percent to around $65 a barrel and hit a five-year low on Wednesday as producers forecast lower demand for their oil next year. The STOXX Europe 600 Oil & Gas Index fell 1.3 percent to 279.48 points. Dutch oil services group Fugro slumped 12.2 percent. The broader pan-European STOXX 600 index fell 0.1 percent while the FTSEurofirst 300 index also retreated by 0.2 percent. "Crude oil is under punishment today once again on the back of the OPEC news.
Bouncing Energy Shares Help European Stocks Extend Rally
A rebound in most energy shares drove European equities higher on Monday, while Greece's bourse was also boosted by the country's prime minister offering to bring pro-European independents into the government. Bucking the trend, shares in Italian lender Banca Monte dei Paschi di Siena shed 7.3 percent, hit by renewed fears of big writedowns on poorly performing loans. Monte Paschi is expected to book around 3 billion euros in gross loan writedowns in the last quarter, much higher than the 1.2 billion euro total booked over the previous three quarters.
