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Oil prices hit $120 as Saudi July price rise eclipses OPEC+ deal
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Banks, commodity stocks lift European shares as markets await ECB meet
Commodity prices boost London shares; Melrose jumps on Ergotron unit sale
Date: June 6, 2022
By Anisha Sircar (Reuters) – London’s FTSE 100 rose more than 1% on Monday, boosted by miners and oil majors on the back of strong commodity prices, while jet and auto parts supplier Melrose Industries jumped after agreeing to sell its Ergotron unit. The blue-chip FTSE 100 and the domestically oriented FTSE 250 advanced 1.4%...
Investors dip into riskier tech, crude at $120
Date: June 6, 2022
By Huw Jones LONDON (Reuters) – Wall Street was set to open higher on Monday, tracking gains in Asia and Europe as investors took expected interest rate hikes in coming days their stride for now despite crude oil hitting $120 a barrel. S&P 500 futures added 1% and Nasdaq futures 1.4%. U.S. listed shares in...
Euro edges higher as risk appetite picks up, focus on ECB meeting
Date: June 6, 2022
By Stefano Rebaudo (Reuters) – The euro edged higher on Monday as risk appetite picked up while investors awaited a European Central Bank (ECB) policy meeting later this week. Asian shares joined U.S. stock futures in making cautious gains ahead of U.S. inflation data this week. Markets, which have already priced in several ECB rate...
Exclusive-UniCredit widens search for buyers to sell out of Russia – sources
Date: June 6, 2022
By Giselda Vagnoni and Valentina Za MILAN (Reuters) – Italian bank UniCredit has widened its search for a buyer for its Russian business beyond local investors, as it steps up efforts to leave the country, two people with knowledge of the matter said. UniCredit held talks with local bidders, but escalating Western sanctions have hampered...
Russian rouble eases towards 62 vs dollar, stocks extend fall
Date: June 6, 2022
(Reuters) – The Russian rouble weakened towards 62 against the dollar on Monday, steered by internal market flows and capital controls, while stock indexes extended losses after the latest Western sanctions. At 0731 GMT, the rouble was 0.9% weaker against the dollar at 61.46, stabilising in the relatively narrow range of 60.0-62.5 in the past...
Barclays raises Brent forecasts on Russia oil sanctions
Date: June 6, 2022
(Reuters) – Barclays on Monday raised its Brent crude price forecasts by $11 per barrel for 2022 and $23 for 2023, citing a larger and sustained disruption in Russian supply following sanctions by the European Union. The British bank sees Brent prices averaging $111 this year and next, while it sees U.S. West Texas Intermediate...