Dol­lar starts Au­gust on high note af­ter worst month since 2010

Global stocks rise af­ter up­beat earn­ings re­ports and pos­i­tive eco­nomic data

Business Day (Nigeria) - - COMPANIES & MARKETS -

Zhe, se­nior econ­o­mist at Caixin In­sight Group.

A sep­a­rate sur­vey by IHS Markit showed ac­tiv­ity in Spain’s and Italy’s man­u­fac­tur­ing sec­tors re­sumed grow­ing last month.

In­di­ca­tions of ris­ing de­mand helped boost crude oil prices. Fu­tures on Brent, the in­ter­na­tional bench­mark, rose 1.7 per cent to $ 44.23 while WTI, the US marker, rose 2.1 per cent to $41.11

Other stock ex­changes in the Asia-pa­cific re­gion were mixed. Ja­pan’s bench­mark Topix in­dex closed up 1.8 per cent, while Aus­tralia’s S&P/ASX 200 was lit­tle changed.

Hong Kong’s Hang Seng in­dex fell 0.6 per cent in its first trad­ing ses­sion since the ter­ri­tory’s leader, Car­rie Lam, on Fri­day post­poned elec­tions for the city’s leg­is­la­ture, draw­ing con­dem­na­tion from Wash­ing­ton. A sharp in­crease in loan-loss pro­vi­sions and a plunge in sec­ond-quar­ter profit at HSBC, whose Hong Konglisted shares dropped more than 4 per cent, also weighed on the bench­mark.

The price of gold briefly rose as much as 0.7 per cent to a fresh record high of $ 1,984.66 per troy ounce on Mon­day morn­ing but pulled back to be down 0.4 per cent on the day.

Newspapers in English

Newspapers from Nigeria

© PressReader. All rights reserved.