world markets news in brief

World Markets Daily News – In Brief – Friday 27/05/2022

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. SMH (AUSTRALIA)

ASX posts another week of gains as US Fed eases concerns

The ASX 200 posted gains for a second week in a row, closing 1.1 per cent higher at 7,182.7 on Friday, with Wall St, and a record retail spend locally, ensuring another buoyant day for investors.

. CNBC (USA)

European stocks cautious, on course for winning week

European stocks were cautious on Friday as global markets head for a positive week, with fears over monetary policy tightening subsiding slightly.

. RTT NEWS (USA)

Asian markets trade mostly higher

Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from Wall Street overnight, with technology and energy stocks boosting the markets

. REUTERS (UK)

Oil lingers near two-month high amid global supply concerns

Oil prices hovered around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the United States.

Gold prices set for weekly gain as dollar slides

Gold prices rose on Friday as the dollar continued to weaken, and helped put bullion on track for a second straight weekly rise amid cooling bets for a more aggressive Federal Reserve monetary policy.

. WSJ (USA)

Europe’s quest for alternatives to Russian gas hits obstacles

Europe is hitting roadblocks as it tries to replace Russian gas in the Middle East and North Africa, as talks with big producers like Qatar, Algeria and Libya have become complicated.