WORLD MARKETS

World Markets Daily News – In Brief – Wednesday 31/08/2022

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. THE SYDNEY MORNING HERALD (AUSTRALIA)

ASX falls after Wall Street extends losing streak; oil price falls

The Australian sharemarket was trading lower at midday on Wednesday after Wall Street retreated again amid concerns high interest rates are here to stay.

. RTT NEWS (US)

Asian Markets Mostly Lower On Weak Wall Street Cues

Asian stock markets are trading mostly lower on Wednesday, following the broadly negative cues from Wall Street overnight

. CNBC (US)

European markets nudge higher, bucking negative global trend

European markets ticked higher on Wednesday, bucking a more negative trend in Asia-Pacific markets overnight and after Wall Street’s losing streak stretched into its third day.

. REUTERS (UK)

Oil recoups some losses on signs of firm U.S. fuel demand

Oil prices inched up on Wednesday as industry data showed U.S. fuel stocks fell more than expected, recovering slightly from a 5% drop on Tuesday

Gold lingers near 1-month low as prospects of more Fed rate hikes weigh

Gold languished near a one-month low on Wednesday and was set for a fifth consecutive monthly drop, as solid U.S. data and hawkish Federal Reserve comments pointing to higher interest rates dented the non-yielding metal’s appeal.

. BAHA (AUSTRIA)

Gas futures surge 6% after supply disruption to Europe

Natural gas futures prices rose more than 6% on Wednesday following news that Russia’s Gazprom had halted supplies to Europe.