Tuesday, May 9th, 2017

 

S&P, Nasdaq hit record highs as risk appetite improves

NEW YORK, May 9 — The S&P 500 and the Nasdaq touched record highs for the second straight day today following a spate of upbeat corporate earnings, while Emmanuel Macron’s victory in the French presidential election improved risk appetite….


Oil buckles as concern grows over battle of Opec vs shale

LONDON, May 9 — Oil prices fell today, surrendering earlier gains, rattled by concern over slowing demand and the rise in US crude output that has shaken investors’ faith in the ability of Opec to rebalance the market. Brent crude futures…


US, European stocks touch record highs as calm backs risk rally

NEW YORK, May 9 — Wall Street opened higher today, with the S&P 500 and Nasdaq touching all-time intraday peaks, as US equities tracked European stocks and global bond yields. Investor sentiment has been bolstered by historically low US stock…


Gold falls to eight-week low as safe-haven demand sags

LONDON, May 9 — Gold touched an eight-week low today as safe-haven demand continued to fade in the wake of Emmanuel Macron’s victory in the French election and as expectations for tighter US monetary policy lifted bond yields. Revived…


Citigroup trader fired over five-word message amid FX scandal

LONDON, May 9 — A five-word message to a rival banker was enough to cost former Citigroup Inc trader David Madaras his job as the bank fought to appease regulators probing the foreign-exchange scandal engulfing the industry. Citigroup’s…


Market calm underpins risk-on rally

Market calm underpins risk-on rally

LONDON (May 9): European stocks and global bond yields rose on Tuesday, with investor sentiment bolstered by historically low U.S. stock market volatility, last weekend’s…


Dollar advance saps commodity gain; stocks rise

DUBAI, May 9 — The dollar gained a second day as bets increased for a hike in US borrowing costs next month. That took some of the shine off a bounce in commodities, though mining stocks still spurred European equities to the highest since…


PIAM elects new committee members for 2017/18 term

Persatuan Insurans Am Malaysia (PIAM) has reelected AIG Malaysia Insurance Bhd CEO Antony Lee as its Chairman at the Association’s 39th Annual General Meeting held on 28 April 2017. “The Association has been proactively engaging key stakeholders in the past few years, in order to propel the general insurance industry forward. “The management committee anticipates exciting and challenging times ahead – especially with the Phased Liberalisation of the Motor and Fire Tariffs which is going to be a game changer to the industry,” Antony said in a statement yesterday. MSIGRead More


Brexit funding risk fuels push to ready east Europe lifeline

BUCHAREST, May 9 — Eastern European nations struggling in the event of a ‘hard’ Brexit may find assistance in an unlikely place: London. The European Bank for Reconstruction and Development, based in the UK capital, is standing ready to…


Australia goes for stimulus in A$75b rail, road plan

CANBERRA, May 9 — Australia’s government finally took up the central bank’s call for economic stimulus in its annual budget, with a A$75 billion (RM239.9 billion) infrastructure plan as its centrepiece. Road, rail and runway construction…