December 4, 2023
NEW YORK, Nov 30, 2023 (AFP) – Data showing lower inflation in the United States and Europe lifted stocks Thursday, with the dollar advancing as traders bet on faster ECB interest rate cuts following the surprisingly big drop in European prices. A key pricing measure used by the US Federal Reserve to set interest rates
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Test tubes are seen in front of a displayed Abbvie logo in this illustration taken, May 21, 2021. Dado Ruvic | Reuters Biotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. Shares of ImmunoGen jumped more than 80% on Thursday, putting it on track for its highest
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THE peso edged up and the stock market also closed higher to end the week on a positive note. The currency strengthened by one centavo to P55.38 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) added 23.3 points, or 0.37 percent, for a 6,269.50 finish. The broader All Shares rose 0.61 percent,
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HONG KONG: Asian stocks mostly rose on Monday following small gains on Wall Street as investors grow increasingly optimistic that the Federal Reserve (Fed) has come to the end of its interest rate hiking cycle. After a string of reports pointing to slowing inflation and a cooling jobs market, traders are shifting back into riskier
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CommSec’s Tom Piotrowski says Australian stock markets have seen “patchy performance” over the past couple of weeks. Mr Piotrowski told Sky News Australia that long and short-term interest rates have been tending to “move lower”. “And that was the case where Wall Street was concerned last week.” He added that the Australian dollar is also
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European markets have seen gains after positive economic news from China, according to CommSec’s Tom Piotrowski. “European markets are generally higher, benefitting from some better economic news out of China last night,” Mr Piotrowski told Sky News Australia. He pointed out luxury goods stocks did particularly well in European trade. “LVMH, Hermès, Christian Dior –
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US stocks “found their footing” after a challenging start in early trade, according to Commsec’s Tom Piotrowski. “We saw long and short-term interest rates nudging higher which created headwinds for stocks,” Mr Piotrowski told Sky News Australia. “But they found their footing and they’ve been able to recover from those losses.” He pointed out the
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The Dubai Airshow launched on Monday, with investors anticipating billions of dollars worth of new orders, pulling up aerospace stocks. ADVERTISEMENT The 18th Dubai Airshow started on Monday at the Dubai World Central, with 95 countries in attendance, hosted by Emirates and flyDubai. The event is expected to set the stage for a slew of
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NEW YORK CITY: US stock markets declined on Thursday after Federal Reserve Chairman Jerome Powell indicated interest rates may be hiked again, if needed, while European indexes finished the day with solid gains. The US drop came after Powell told a conference in Washington that progress toward policymakers’ 2-percent goal is “not assured.” Fed officials
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NEW YORK CITY: Brent crude fell below $80 per barrel for the first time since July on Wednesday, while stocks struggled, as concerns about the economic outlook weighed on investors. Brent crude, the main international contract, dropped more than 2 percent to hit $79.54, amid fears about global demand. Meanwhile, the main US contract, WTI,
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