WORLD MARKETS

World Markets Daily News – In Brief – Monday 07/11/2022

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. THE SYDNEY MORNING HERALD (AUSTRALIA)

ASX stays in the green despite rollercoaster Wall Street session

The Australian sharemarket is holding firm in positive territory, with miners helping the index counter the weakness in financial stocks.

. RTT NEWS (US)

Asian Shares Rise Despite Weak China Data

Asian stocks ended mostly higher on Monday, even as overall gains remained limited

. CNBC (US)

European stocks open lower as investors gear up for U.S. midterms and inflation data

European markets opened lower on Monday as investors gear up for a busy week in U.S. politics, with the Congressional midterm elections, as well as the latest consumer inflation report

. REUTERS (UK)

Oil prices slide as hopes for China demand rebound fade

Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict Covid containment approach, dashing hopes of an oil demand rebound at the world’s top crude importer.

Gold retreats from three-week high as firmer dollar dulls appeal

Gold prices slipped on Monday from a three-week high scaled in the previous session, as the U.S. dollar regained some ground, making greenback-priced bullion more expensive for holders of other currencies.

. THE FINANCIAL TIMES (UK)

Bonus bonanza boosts FTSE 100 chief executives’ pay by nearly a quarter

FTSE chairs warn of declining relations with institutional investors

. THE WALL STREET JOURNAL (US)

Meta Plans to Begin Large-Scale Layoffs This Week

The social-media giant’s planned cuts are expected to affect many thousands of its workforce, which exceeded 87,000 as of September