Business

Equities hit five-month peak, bonds dip as earnings season starts

NEW YORK (Reuters) – World equity benchmarks hit a five-month peak and perceived safe -havens such as the dollar and U.S. government bonds dipped on Monday as investors turned to second-quarter earnings for signs that corporate profits will recover from the economic toll of the coronavirus pandemic. Wall Street banks JPMorgan, Citigroup and Wells Fargo […]

Business

Take Five: A bull with underlying health conditions

1/EUROPE: FINAL COUNTDOWN Southern European bonds and the euro have rallied hard in the two months since France and Germany mooted a 750 billion-euro ($848 billion) post-COVID-19 recovery fund. On July 17-18, European leaders meet to hammer out details. But differences remain on whether the fund should be based on loans or grants; if the […]

Business

Yen gains, risk currencies slide as coronavirus worries deepen

TOKYO (Reuters) – The yen rose to a two-week high and risk-sensitive currencies slid on Friday after a surge in new coronavirus infections in the United States further undermined the case for a quick turnaround in the economy. More than 60,000 new COVID-19 cases were reported across the United States, the largest single-day tally by […]

Business

Stocks stall but China charge rumbles on

LONDON (Reuters) – A five-day charge by world stocks fizzled on Tuesday as caution about renewed coronavirus lockdowns took hold again, though it was not enough to douse China’s July hot streak. London, Paris and Frankfurt were down around 1% by early afternoon and Wall Street looked set for a drop, too, as investors shifted […]

Business

Asia shares at four-month peak, stimulus trumps virus fears

SYDNEY (Reuters) – Asian shares held near four-month highs on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery even as surging coronavirus cases delayed reopenings across the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.05%, having hit its highest since February. Eyes […]

Business

Oil rises on signs of economic recovery, but new infections loom

LONDON (Reuters) – Oil prices rose on Wednesday on a string of positive manufacturing data and a drawdown in U.S. crude inventories, both indicating an economic recovery, however, fears of a surging coronavirus infections capped the gains. Brent crude LCOc1 was up 13 cents, or 0.3%, at $41.40 a barrel at 1236 GMT, and U.S. […]

Business

Dollar in holding pattern before U.S. manufacturing, jobs data

TOKYO (Reuters) – The dollar held gains against the yen on Wednesday ahead of data expected to show U.S. manufacturing activity and hiring continued to recover from the economic shock caused by the coronavirus pandemic. The euro was hemmed into a narrow range as traders awaited data on Germany’s manufacturing sector, retail sales, and the […]

Business

Dollar holds gains versus yen before major economic data

TOKYO (Reuters) – The dollar held onto gains against the yen on Wednesday ahead of data expected to show U.S. manufacturing activity and hiring continued to recover from the economic shock caused by the coronavirus pandemic. The euro was hemmed into a narrow range as traders awaited data on Germany’s manufacturing sector, retail sales, and […]

Business

Asia stocks up as China PMI, U.S. data help cap strong quarter despite virus woes

TOKYO/NEW YORK/HONG KONG (Reuters) – Asian shares advanced on Tuesday as positive economic data from China and the United States helped to close out a strong quarter, though a renewed surge in global coronavirus cases underlined a challenging investment climate. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.51%, on course for its […]

Business

Stocks hit two-week lows, oil slides on virus surge

LONDON (Reuters) – World shares hit two-week lows and oil fell nearly 2% on Monday as the relentless spread of the coronavirus curbed optimism on the global economy, prompting investors to take shelter in safe-haven bonds and gold. European stocks opened slightly lower, after Asian shares ended deep in the red playing catch up with […]