Market

Tokyo slide keeps mood downbeat

A 3 percent plunge in the Tokyo stock exchange and falls in European banking shares added to a gloomy global financial mood on Monday, pushing oil prices lower and the dollar to an 18-month low against the yen. With trading thinned out by holidays in London and many Asian economies, a solid read of manufacturing sentiment in Germany drove the ... Read More »

China April official factory PMI seen rising modestly for second month

Activity in China’s manufacturing sector likely expanded modestly in April for the second month in a row, a Reuters poll showed, adding to hopes that a prolonged downturn in the world’s second-largest economy is easing. The official manufacturing Purchasing Managers’ Index (PMI) is expected to rise to 50.4 in April from 50.2 in March, according to a median forecast of ... Read More »

Aussie plunges, Fed eyed for dollar direction

Australia’s dollar plunged by almost 2 percent on Wednesday after data showed consumer prices fell unexpectedly in the first quarter, but most currencies traded in narrow ranges before a U.S. Federal Reserve policy decision later in the day. The dollar edged down 0.2 percent against a basket of major currencies .DXY, with traders expecting the Fed to be wary of ... Read More »

Fed set to keep rates unchanged, may nod to ebbing risks

The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday as it continues to monitor the impact from weakening global growth but may seek to signal to markets it is determined to resume policy tightening this year. The Fed has held its overnight lending rate for banks at a target range of between 0.25 and 0.50 percent ... Read More »

Oil hits 2016 high, led by falling output and weaker dollar

Oil hit its highest level this year on Wednesday, driven by a falling dollar and evidence of declining U.S. supply, putting the price on course for its strongest monthly performance since last April. The prospect of an agreement among the world’s largest exporters to limit production, which had provided the catalyst for a 55 percent rally since mid-February, evaporated almost ... Read More »

Asia stocks slip with central banks in focus, oil holds gains

Asian stocks were mostly lower on Wednesday, as investors stayed cautious ahead of U.S. and Japanese central bank policy decisions, while crude oil prices hovered near 2016 highs. Spreadbetters expected Europe to behave similarly, forecasting Britain’s FTSE .FTSE, Germany’s DAX .GDAXI and France’s CAC .FCHI to open little changed. Japan’s Nikkei .N225 lost 0.4 percent as Japan-based suppliers of iPhone ... Read More »

FTSE falls as Arm hit by Apple slowdown and oil drops on Opec impasse

In the wake of the weekend’s meeting of oil producers which broke up without agreement on an output freeze, commoditiy companies are helping drag the stock market lower. Technology firms are also under pressure after reports that Apple plans to reduce production of iPhones in the April to June quarter after sluggish sales. So chip designer Arm is down 27.5p ... Read More »

AstraZeneca slips on talk of possible £7bn bid for US cancer specialist

AstraZeneca has slipped back following weekend reports it was considering a £7bn bid for San Francisco cancer treatment specialist Medivation. The US company has already rejected an approach from France’s Sanofi, and is said to have hired advisers to help fend off any hostile move. Analysts believe there is likely to be interest from other pharmaceutical businesses, withAstraZeneca just one ... Read More »

Sebi mulls ways to make commodity markets ‘deeper and safer’

To deepen commodities derivative markets, regulator Sebi is mulling allowing new products and institutional players while an integrated database is in the works for agriculture as well as non-agri products to better understand the domestic and international trends. Through this database, Sebi intends to become a “timely input provider” to the government in commodity market-related matters as any volatility and ... Read More »

Apple to stop security support for ‘QuickTime for Windows’

Technology giant Apple will not roll out security updates for “QuickTime for Windows” after security software company Trend Micro Inc. reported that two new critical vulnerabilities are affecting the software. Trend Micro’s “Zero Day Initiative” released two advisories detailing two remote code execution vulnerabilities that could allow an attacker to gain control of the victim’s system and access larger company-wide ... Read More »