world markets news in brief

World Markets Daily News – In Brief – Wednesday 11/05/2022

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. SMH (AUSTRALIA)

ASX stems losses, Magellan appoints new CEO, Graincorp unveils record profit, triples dividend

For a second day in a row, the ASX 200 recovered from its morning dip. The bourse was flat this afternoon having dipped as much as 0.8% in early trading with our big miners helping pull the market higher.

. RTT NEWS (USA)

Bargain Hunting Pushes Asian Markets Mostly Higher

Asian stock markets are mostly higher on Wednesday, following the mixed cues overnight from Wall Street, as some traders looked to pick up stocks at reduced levels after the recent sell-off in global markets.

. CNBC (USA)

European markets head for positive open as investors look ahead to U.S. inflation data

European stocks are expected to open higher on Wednesday as investors look ahead to the latest inflation reading.

. REUTERS (UK)

Oil turns higher on looming EU ban on Russian oil

Oil rose on Wednesday, following a 9% drop over the previous two sessions, on supply concerns as the European Union worked on gaining support for a ban on Russian oil and major producers warned they may struggle to fill the gap when demand improves.

Gold prices fall to three-month low ahead of U.S. inflation data

Gold prices eased on Wednesday to a three-month low as an elevated dollar continued to restrain bullion while investors await monthly U.S. inflation data, which could have some impact on the Federal Reserve’s monetary policy stance.

. WALL STREET JOURNAL (USA)

Stocks Fall on Inflation Data

Stocks wobbled Wednesday after fresh data showed inflation eased slightly in April but not as much as economists expected. The S&P 500 edged up 0.1%.