world markets news

World Markets Daily News – In Brief – Monday 06/06/2022

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. SMH (AUSTRALIA)

ASX drops ahead of rates decision, Magellan flight hits $50b

The most significant number of the day was the $50 billion-plus of funds under management (FUM) which has now headed for the exits at Magellan Financial Group since November last year – along with its founder Hamish Douglass.

. RTT NEWS (US)

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Monday, following the broadly negative cues from Wall Street on Friday, on pessimism over the outlook for interest rates following a stronger than expected jobs report from the U.S.

. CNBC (US)

European markets climb to start a week set to be dominated by U.S. inflation data

European stocks advanced on Monday as international markets gear up for key U.S. data releases, including the latest inflation reading.

. REUTERS (UK)

Brent climbs above $120 per barrel after Saudi Arabia hikes crude prices

Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two months.

Gold inches higher as U.S. Treasury yields slip, rate-hike bets weigh

Gold prices edged higher on Monday, supported by a slight pullback in U.S. Treasury yields, although bullion’s outlook remained vulnerable to aggressive interest rate hikes by central banks.

. FT (UK)

LME hit by $450mn lawsuit from Elliott Management over nickel market chaos

UK regulators are probing trading suspension that took place in March