markets in brief

World Markets Daily News In Brief – Monday 07/03/2022

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. CNBC (USA)

Hong Kong and Japan drop 3% as oil prices surge on Russia-Ukraine conflict

Shares in Asia-Pacific declined in Monday trade as oil prices surged, with the ongoing Russia-Ukraine war continuing to weigh on investor sentiment globally.

. RTT NEWS (USA)

European shares set to Extend selloff

European stocks are seen opening sharply lower on Monday as the Russian-Ukraine conflict showed no sign of cooling, triggering the fastest-growing humanitarian crisis in Europe since World War II.

. TELETRADER (GERMANY)

Oil jumps 8% after reaching July 2008 highs

Prices of oil futures continued to rise on Monday and hit levels not seen since July 2008 after United States officials signaled their willingness to ban oil imports from Russia

. REUTERS (CANADA)

Gold crosses $2,000 mark, palladium at record high on Ukraine crisis

Gold prices scaled the $2,000 level for the first time in 1-1/2 years, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high on Monday.

. SOUTH CHINA MORNING POST (CHINA)

China can’t count on global markets for food security, Xi says

China’s president has underscored food security as a top priority, ordering greater self-reliance in food production to ensure the country’s development.

. WALL STEET JOURNAL (USA)

Global Markets Fall After Oil Hits $130 a Barrel

U.S. stock futures and global equity indexes dropped after Russian forces intensified strikes across Ukraine and as the threat of a potential ban on imports of Russian oil helped spur a surge in energy prices.

MINT (INDIA)

Sensex ends 1500 pts lower, Nifty cracks below 15,900 amid surge in crude prices

Indian indices continued their downward trend on Monday. The Sensex slipped 1491.06 points to close at 52,842.75, while Nifty ended at 15,863.15, down 382.20 points. The global market fell on Monday as fears of ban on Russian oil sent Brent crude to its highest level in 14 years.

. THE FINANCIAL TIMES (UK)

Commodity prices surge and shares sink as US discusses Russia oil ban

Commodity prices surged as global shares sold off and the euro sank after the US announced it was discussing a ban on oil imports from Russia

. BLOOMBERG (USA)

Soaring food prices threaten emerging-market currencies

While energy prices are an ongoing risk to inflation in countries around the world, several emerging-markets countries face a different problem: The pace of food price inflation is rendering their currencies vulnerable.

. THE RIO TIMES (BRAZIL)

Brazilian stock market is one of the only ones to win in the current war turmoil

It’s all right that there were only three trading days because of Carnaval. Still, the Ibovespa, virtually unaffected by the war in Ukraine, was able to show the world last week that this self-sufficient giant country is likely to be one of the few to stand tall in times of crisis.