Egypt's Sisi urges localisation, global partnerships    EGP appreciates vs USD in early Sunday trading    Egypt calls for greater private sector role, debt swaps at G20 meeting    Al-Sisi, Macron discuss Gaza ceasefire efforts, France's planned recognition of Palestinian state    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    State steps up efforts to streamline trade, digitise processes: Investment minister    Public enterprises minister reviews steps to restart carbon anode factory in Ain Sokhna after two-year hiatus    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Macron's plan to recognize Palestinian state, divides Western allies    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Asia Shares Extend Gains, Oil Stuck Near Lows
Published in Amwal Al Ghad on 12 - 08 - 2014

Asian shares nudged higher on Tuesday, tracking rallies in the United States and Europe as investors seemed to put aside geopolitical concerns, at least for the moment.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.3 percent after jumping 1.5 percent on Monday. Japan's Topix .TOPX rose 0.5 percent, while the Nikkei .N225 firmed 0.3 percent.
Singapore's Straits Times Index .FTSTI added 0.3 percent after the city-state reported annualised economic growth of 0.1 percent in the second quarter when analysts had expected a slight contraction. Strength in the financial sector helped offset sluggish manufacturing activity.
There was also promising news on global trade with the Philippines enjoying its fastest export growth in six months in June.
The better mood came even though NATO chief Anders Fogh Rasmussen warned of a "high probability" that Russia, using the guise of a humanitarian mission, could intervene militarily in Ukraine.
Ukraine has also said that, contrary to Russian reports of de-escalating, Russia has massed 45,000 troops on its border.
Investors also monitored Iraq, where the United States recently began air strikes targeting Islamic State fighters marching on the country's Kurdish capital.
None of this seemed to faze Wall Street, where the Dow .DJI rose 0.10 percent on Monday, while the S&P 500 .SPX gained 0.28 percent and the Nasdaq .IXIC 0.70 percent.
Eight of the S&P's 10 primary sector indexes ended higher. Consumer staples shares posted the highest increases as the sector's index .SPCOMS rose 0.8 percent, while energy and utilities shares dragged.
Shares of Kinder Morgan Inc (KMI.N), the biggest U.S. pipeline company, jumped 9 percent on news it would put all its publicly traded units under one roof in a $70 billion deal.
EURO ON DEFENSIVE
Yet there was enough of a safe-haven bid to keep Treasuries underpinned with yields on U.S. 10-year paper US10YT=RR at 2.433 percent, not far from last week's 14-month lows.
Major currencies were fenced in narrow ranges, with the U.S. dollar index a shade firmer at 81.545 .DXY after drifting in a 82 tick-range on Monday, a far cry from Friday's 336 tick-range.
The dollar bought 102.28 yen, off Friday's low of 101.51, while the euro fetched 136.80 yen, still well off a trough of 135.73 plumbed on Friday.
Geopolitical concerns and sanctions against Russia will probably be reflected in a closely watched survey on German morale due later in the day, analysts at BNP Paribas said.
"We expect the headline expectations measure to fall to its lowest levels since the immediate aftermath of the EUR crisis in early 2013," they wrote in a note to clients.
Such an outcome might keep the euro under pressure. The common currency last traded at $1.3371, still struggling after hitting a nine-month low of $1.3333 a few days ago.
In commodities, oil prices remained in a rut amid plentiful supply. Brent crude futures LCOc1 eased 19 cents to $104.49 a barrel, while U.S. crude CLc1 lost 28 cents to $97.80 per barrel.
Spot gold XAU= slipped a couple of dollars to $1,306.10 an ounce.
Source : Reuters


Clic here to read the story from its source.