By Joice Alves LONDON (Reuters) – The euro fell below $1.06 for the first time in five years against a broadly strong U.S. dollar on Wednesday amid rising concerns around energy safety and growth slowdown in China and Europe. The euro slipped to a five-year low of $1.05890 after Russia’s Gazprom said it would cut…
(Reuters) – European shares slipped in choppy trade on Wednesday as markets took stock of mixed earnings updates, while energy tensions heightened after Russian energy giant Gazprom halted gas supplies to Bulgaria and Poland. The pan-European STOXX 600 inched 0.4% lower, set to extend its sell-off for a fourth straight day, and hovered near six-week…
By Florence Tan (Reuters) -Oil prices extended gains on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Bulgaria and Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 67 cents, or 0.6%, to $105.66 a barrel by 0636 GMT. U.S. West Texas Intermediate crude futures gained…
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Deutsche Bank posted a better-than-expected 17% climb in first-quarter profit as investment banking revenues rose, but it warned that the Russia-Ukraine conflict could hurt full-year results. Funds it sets aside for credit losses are expected to increase “significantly” this year due to the war and slower growth,…
By Kanupriya Kapoor (Reuters) – Most Asian stock indices fell on Wednesday, as growing fears over the global economy drove investors to dump riskier assets in favour of safe havens such as the U.S. dollar and government bonds. Financial markets are grappling with multiple risks, including the prospects for aggressive U.S. interest rate hikes, a…
SINGAPORE (Reuters) – Two of Australia’s big four banks expect the benchmark cash rate will rise next week and a third sees increased risk of a hike after a surprisingly strong inflation reading on Wednesday. National Australia Bank and ANZ Bank pulled forward their lift-off forecasts from June to May and expect a 15 basis…
By Florence Tan (Reuters) -Oil prices extended gains in early Asian trade on Wednesday amid simmering geopolitical tensions as Russia cut gas supplies to Poland, while hopes of Chinese economic stimulus buoyed the demand outlook. Brent crude futures rose 44 cents, or 0.4%, to $105.43 a barrel by 0418 GMT. U.S. West Texas Intermediate crude…
By Heekyong Yang and Byungwook Kim SEOUL (Reuters) -LG Energy Solution Ltd (LGES) booked a 24% quarterly profit drop on Wednesday, far milder than market estimates, as strong sales of batteries to Tesla Inc offset troubles at automotive clients where chip shortages have hit production. Rising raw materials prices and supply-chain disruption set LGES up…
By Joyce Lee SEOUL (Reuters) -South Korean chipmaker SK Hynix Inc said it expects solid demand for server chips to offset weaker growth from personal computers and mobile phones, after its first-quarter profit more than doubled from a year ago. The world’s second-biggest memory chipmaker on Wednesday posted a 116% jump in Q1 earnings, supported…
TOKYO (Reuters) – Shares in Asahi Group Holdings surged on Wednesday after the Japanese beermaker announced its first price increases for canned beer in 14 years and a range of other price hikes to cope with rising costs. Retail prices on 162 items, mostly beer products, will rise between 6% and 10% from Oct. 1,…
