World Markets Daily In Brief

Thursday 03/03/2022 World Markets In Brief

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Major stock markets in the Asia-Pacific region traded mixed on Thursday, Europe mostly flat premarket.  U.S. stock index futures edged mildly higher in early morning trading  after Federal Reserve Chair Jerome Powell stated the institution is ready to raise interest rates by more than 25 basis points in case inflation continues to surpass expectations.


.CNBC (USA)

Asia-Pacific stocks mixed as oil prices continue jumping, with Brent topping $116 per barrel

Shares in Asia-Pacific were mixed on Thursday as U.S. stocks bounced back overnight. Oil prices, meanwhile, continued to move higher following a price surge in recent days.

. SYDNEY MORNING HERALD (AUSTRALIA)

Energy and miners lift ASX, Atlassian suspends Russian business, energy mayhem as markets avoid Russian oil

The ASX closed 0.5% higher, up 34.7 points to 7151.4, as energy stocks and our big miners lifted the market to its fifth consecutive day of gains.

. RTT NEWS (USA)

European Shares Set For Cautious Start

European stocks are seen opening flat to slightly lower on Thursday as fighting rages in Ukraine for an eighth day. According to reports, Russian troops have seized Ukraine’s Kherson, a strategically important city.

. REUTERS (CANADA)

Gold flat as Fed assuages fears of aggressive rate hike

Gold prices were flat on Thursday as risk appetite improved after the U.S. Federal Reserve chairman tried to assuage fears about aggressive interest rate hikes, offsetting safe-haven demand spurred by the Russia-Ukraine conflict.

.FINANCIAL TIMES (UK)

EU looks at preventing use of crypto to avoid Russia sanctions

Lagarde among officials calling for action on tougher enforcement of financial penalties

. MINT (INDIA)

Sensex, Nifty trade higher as IT stocks rally; TechM, Wipro, HCL top gainers

Indian share markets trade higher with the Sensex up by 223 points, while the Nifty is trading higher by 56 points

.WALL STREET JOURNAL (USA)

Oil Briefly Tops $115; Stocks Rise

U.S. stock indexes edged higher, while oil fell from record highs, as investors monitored Russia’s invasion of Ukraine and the jump in commodity prices

. FIN24 (SOUTH AFRICA)

Long-term trouble in store for emerging markets if Ukraine-Russia conflict not resolved

And as the Ukraine situation continues to play out, investors are turning to trusted safe havens like gold and US treasury bonds again. Many foreign investors have started pulling their money out of the JSE and other emerging markets’ stock exchanges.

. ARABIAN BUSINESS (UAE)

Capital Bank lists $100m AT1 bond on Nasdaq Dubai market

The bond is the first issuance of its kind for a Jordanian bank on the region’s international financial exchange.

.THE RIO TIMES (BRAZIL)

Credit Suisse raises Brazil to “overweight” and highlights the Real’s appreciation as key

With the increased flow of foreign capital to emerging nations in recent months, Credit Suisse raised its exposure to this block of countries, focusing on China and Mexico and raising Brazil to overweight (or above-average exposure) within its global strategy.