Global markets showed signs of recovery in early European trading on Thursday, with stocks rising and the US dollar pulling back from recent gains, while finance chiefs of the US, Japan and Korea issued a rare warning about currency weakness. Stock markets sold off earlier this week, while Treasur
Morgan Stanley's first-quarter profit beat estimates on Tuesday, fuelled by a resurgence in investment banking and growth in wealth management, sending shares up 3.7 per cent. Investment banking revenue climbed 16 per cent from a year earlier. Fixed-income underwriting did well for a second quarte
The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday. The STOXX Europe 600 Oil & Gas index rose around 2 per cent, led by increases for BP, Shell, Siemens Energy and TotalEnergie
Global sales of fully electric and plug-in hybrid vehicles (PHEVs) rose 12 per cent in March versus the same month in 2023, with growth in China and the US market partly offset by a 9 per cent drop in Europe, market research firm Rho Motion said on Friday, reports Reuters.
Asian equities were in a subdued mood on Friday, as investors pondered the path for Federal Reserve (Fed) interest rate cuts amid a murky US inflation outlook. Gold rose to a fresh all-time peak, after a mild reading for producer price inflation kept alive hopes for Fed easing this year,
Citigroup is in the last phase of a sweeping overhaul to simplify its structure and improve performance, the bank said, after shrinking its workforce by 5,000 employees since September. The largest round of staffing moves, including reassignments and departures, will be communicated to employees f
Social media platform Reddit's shares ticked down 2.6 per cent before the bell on Friday, a day after it notched a 48 per cent gain in its debut on the New York Stock Exchange. The company's share sale was closely watched for more clues about investor interest in new share issues following a prolo
Asian stocks were near a weekly gain on Friday and the Nikkei charged to a record high, riding a rally from its global counterparts after a surprise rate cut from the Swiss National Bank had investors wagering who could be next. The SNB's 25 basis point rate cut on Thursday proved a shot in t
India’s small- (.NIFSMCP100) and mid-cap (.NIFMDCP100) share indexes lost about $47 billion in combined market value this week, after the country’s markets regulator raised concerns about “froth” and suggested mutual funds limit lump sum investments. The two indices had los
Vinyl records will re-enter Britain's inflation charts for the first time in 32 years this month, as part of the annual shake-up of the basket of goods and services used to calculate the pace of price rises. The change in the Office for National Statistics' inflation basket offers a snapshot of sh
Saudi Arabia's state-owned oil giant Aramco, opens new tab boosted its dividend despite net profit falling 24.7 per cent to $121.3 billion in 2023 on lower oil prices and volumes, showing the state's continued reliance on oil revenue as it seeks to diversify. The profit, down from $161.1 billion i
European stocks, government bond prices and the euro rose slightly on Friday after the US unemployment rate increased and earnings growth slowed, supporting expectations that the Federal Reserve could cut interest rates by the summer. The pan-European STOXX 600 was last up 0.2 per cent at a fresh
Global shares hit record highs on Friday, as investors bet on transatlantic interest rate cuts starting within months and hoped that US payroll numbers before the opening bell on Wall Street point to continued resilience, but not overheating, in the US economy. The US Federal Reserve and the Europ
