BEIJING—Global stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies. London and Frankfurt opened lower. Tokyo, Hong Kong, and South Korea fell while Shanghai gained. Oil prices rose more than $2 per barrel while the euro edged lower. Markets were roiled by Russian energy giant Gazprom’s announcement Friday that a…
Global Stocks Sink as Europe Faces New Squeeze on Gas Supply
September 5, 2022
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Global Factory Activity Mixed in August, Signs Cost Pressures Easing
WASHINGTON/LONDON—U.S. manufacturing grew steadily in August but factory activity in China, the euro zone and Britain fell as Russia’s war in Ukraine and China’s zero COVID-19 curbs continued to hurt businesses, surveys showed on Thursday, although there were indications cost pressures were starting to ease. The overall weakness in global manufacturing activity added to signs…
World Food Price Index Falls for 5th Month in August
September 2, 2022
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PARIS—The United Nations food agency’s world price index fell for a fifth month in a row in August, further from all-time highs hit earlier this year, as a resumption of grain exports from Ukrainian ports contributed to improved supply prospects. The Food and Agriculture Organization (FAO) said on Friday that its price index, which tracks…
Dollar Near Two-Decade High Ahead of US Jobs Data
LONDON—The dollar was headed for its third weekly gain in a row and was near two-decade highs against other major currencies, as investors focused on U.S. jobs data due later on Friday that could bolster the case for aggressive interest rate hikes. The U.S. currency has been riding high since Federal Reserve Chair Jerome Powell…
Oil Rallies Ahead of OPEC+ Meeting
September 2, 2022
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LONDON—Oil prices climbed on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weakness in the global economy continued to limit gains. Brent crude futures rose $2.01, or 2.2 percent, to $94.37 a barrel by 0900 GMT and U.S. West Texas Intermediate…
Global Stock Markets Mixed Head of Latest US Jobs Reading
September 2, 2022
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BEIJING—European stocks opened higher Friday while Asian markets mostly declined ahead of U.S. jobs data that might reinforce U.S. Federal Reserve plans for more interest rate hikes to cool inflation. London, Frankfurt, and Shanghai rose. Tokyo, Hong Kong, and Sydney declined. Wall Street futures were nearly flat. Oil prices surged $2.50 per barrel. Investors awaited…
Sterling, Euro Slide as Dollar Marches Higher
September 1, 2022
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SINGAPORE/TOKYO—The dollar gained ground against the euro and sterling on Thursday after earlier hitting a 24-year peak against the Japanese yen, as investors positioned for higher U.S. interest rates and remained concerned about the health of European economies. The euro slid 0.37 percent to just hold above parity against the dollar at $1.10016, while the…
Oil Drops on Fears Over Weaker Demand, China’s COVID-19 Restrictions
September 1, 2022
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TOKYO—Oil prices dropped on Thursday, as investors were worried that aggressive interest rate hikes from global policymakers would slow economies and dent fuel demand, while renewed restrictions to curb COVID-19 in China also added pressure. Brent crude futures fell 80 cents, or 0.8 percent, to $94.84 a barrel by 0626 GMT. U.S. West Texas Intermediate…
Stocks Slide, Dollar Spikes as September Starts With a Bump
September 1, 2022
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LONDON—September got off to a bumpy start as persistent worries about rising global interest rates and recessions hounded stock and bond markets on Thursday and drove the safe-haven U.S. dollar to a 24-year high against the yen. Near 1 percent falls in London, Frankfurt, Paris, and Milan pushed the STOXX 600 to its lowest since…
Oil Prices Fall 3 Percent on Recession Fears
August 31, 2022
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LONDON—Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, bearish oil demand signals from OPEC+, and increased restrictions to curb COVID-19 in China. Brent crude futures for October, due to expire on Wednesday, were down $3.41 at $95.90 a barrel following Tuesday’s $5.78 loss. The more…
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