markets in brief

World Markets Daily News – In Brief- Wednesday 09/03/2022



Major mainland China and Hong Kong lead losses in mixed Asia trading

Shares in mainland China and Hong Kong led losses in mixed Asia-Pacific trading on Wednesday as investors continue to assess the potential economic ramifications of the ongoing war in Ukraine.


As it happened: ASX closes 1% higher; Nickel Mines says Tsingshan can “manage its position”

The S&P/ASX 200 closed 1% higher, up 72.7 points to 7053 with tech stocks and telcos providing the biggest gains.


European shares set for positive start

European stocks are seen opening higher on Wednesday after U.S. President Joe Biden announced a ban on U.S imports of Russian oil in consultation with European allies, who rely heavily more heavily than the U.S. on Russian energy.


Gold flat as firmer dollar, yields offset Ukraine worries

Gold held ground on Wednesday after rising to a 19-month peak in the last session, as a stronger dollar and higher Treasury yields countered support from safe-haven demand stemming from the Ukraine crisis.


Goldman sees Brent hitting $175/b this year if Ukraine war crimps more Russian exports

Brent crude prices could reach $175/b this year if two-thirds of Russia’s seaborne oil exports are curtailed over its war in Ukraine, with the global economy facing with one of the largest energy supply shocks ever, according to Goldman Sachs.


Fitch Sees ‘Imminent’ Russian Default as It Downgrades Again

Fitch Ratings cut its credit ratings on Russia further into junk territory and warned that Moscow was likely to default on its debts shortly.


South African assets become unexpected haven for foreign buyers

South African assets are finding favour among foreign buyers even as investors shed most of their riskier holdings after Russia’s invasion of Ukraine.


China opposes US embargo on Russian oil

Chinese Foreign Ministry spokesman Zhao Lijian (pictured) pointed out on Wednesday that the energy sector import ban the United States imposed against Russia has “no international legal basis.”


Sensex rebounds 1,800 points in just 2 days. Relief rally or something else?

Indian stock markets were up 2% today, extending the rally to the second day. The Nifty and Sensex finished 2% higher at 16,345 and 54,647 respectively, adding to the previous session’s 1% gains.


US stocks rally after four days of losses as commodities retreat

Wall Street stocks rallied and European equities bounced back from their lowest level in a year as energy prices eased.