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Gold steadied near the highest level in more than four months amid signs that investors are turning more bullish on the ...
24/05/2021

Gold steadied near the highest level in more than four months amid signs that investors are turning more bullish on the precious metal.

Hedge fund managers increased their net-long gold positions to the highest in 16 weeks, data showed Friday. Bullion-backed exchange-traded funds have seen inflows in May, following three straight months of sales, according to data compiled by Bloomberg.

Gold capped three straight weeks of gains as investors weighed inflation risks and spikes in coronavirus cases in some countries. Market-based gauges of inflation expectations have declined of late, though concerns linger that the post-pandemic recovery could stoke price pressures and force a pullback in extraordinary central bank support.

The dollar stood near its lowest level in three months against a resurgent euro, and traders pared earlier bets the Fede...
24/05/2021

The dollar stood near its lowest level in three months against a resurgent euro, and traders pared earlier bets the Federal Reserve may move soon to taper its stimulus though markets were not fully convinced that higher U.S. inflation is transient.

The dollar index, measuring the greenback against a basket of six currencies, was hovering at 90.045, a tad above a three-month low of 89.646 set on Friday.

Minutes from the Fed's April policy meeting released last week showed a sizable minority of policymakers wanted to discuss tapering bond purchase on worries that pouring more money to an economy on the mend could stoke inflation.

Oil prices recouped some of last week's losses on Monday as a potential snag emerged in reviving the 2015 Iran nuclear d...
24/05/2021

Oil prices recouped some of last week's losses on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, with indirect talks between Washington and Tehran due to resume this week.

Brent crude oil futures for July rose 38 cents, or 0.6%, to $66.82 a barrel by 0501 GMT, while U.S. West Texas Intermediate for July was at $63.96 a barrel, up 38 cents, or 0.6%.

Oil prices fell last week after Iran's president, Hassan Rouhani, said the United States was ready to lift sanctions on his country's oil, banking and shipping sectors.

The S&P 500 climbed Thursday as tech continued its rebound from a day earlier, with chips and mega-cap tech stocks leadi...
21/05/2021

The S&P 500 climbed Thursday as tech continued its rebound from a day earlier, with chips and mega-cap tech stocks leading to the upside.

The S&P 500 rose 1.37%, the Dow Jones Industrial Average gained 0.90%, or 303 points, and the Nasdaq Composite gained 1.96%.

Tech was up more than 1% amid improving investor appetite for growth following weeks of pressure.

Cartier maker Richemont proposed to double its dividend on Friday after net profit rose by a third in its fiscal year 20...
21/05/2021

Cartier maker Richemont proposed to double its dividend on Friday after net profit rose by a third in its fiscal year 2020/21, helped by a strong performance of its jewellery brands and as it benefited from net finance income.

Luxury watch sales have been recovering recently from the severe pandemic hit, with Richemont, the global No.2 in luxury goods, faring better than rival Swatch Group (SIX:UHR) thanks to its exposure to the fast-growing jewellery category.

Asian stocks rose on Friday, setting the region up for a weekly gain, as investors tempered fears about hot inflation an...
21/05/2021

Asian stocks rose on Friday, setting the region up for a weekly gain, as investors tempered fears about hot inflation and the prospects of an early tapering of stimulus by the Federal Reserve.

Japan's Nikkei jumped 1%, while MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6%.

Taiwan's tech-heavy stock index climbed 1.8%, leading gains in the region, while Chinese blue chips added 0.3%.

German lender Deutsche Bank (DE:DBKGn) said on Thursday that it would pump more than 200 billion euros ($244 billion) in...
20/05/2021

German lender Deutsche Bank (DE:DBKGn) said on Thursday that it would pump more than 200 billion euros ($244 billion) into so-called sustainable financing and investments by 2023, two years earlier than initially planned.

The bank also said it would aim for more female leaders within its ranks, with women making up 35% of managing director, director and vice president roles by 2025. That's up from 29% now.

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