| Oil prices drop on weak Chinese data | | LONDON - World oil prices slid Wednesday on weak Chinese and US economic data and ahead of the latest weekly snapshot of energy inventories in the United States. | | Equities steady despite rate cut talk | | European markets steadied on Tuesday following a strong performance the previous session despite growing expectations of an interest rate reduction from the European Central Bank later this week. | | Dubai-to-Turkey gold rush triggers jump in premiums | | Surging demand for gold from Dubai to Istanbul has pushed physical premiums in the region to levels not seen in years as the biggest price slump in three decades lures consumers, according to MKS (Switzerland) SA. | | Shares close at six-week high; HUL advances | | Indian shares closed at their highest in 1-1/2 months on Tuesday, led by gains in Hindustan Unilever, or HUL, after its parent made a $5.4 billion offer to raise stake in it, while the finance minister’s comments that tax residency certificate is enough proof of residency for tax purposes also helped. | | Oil stems slide on hopes
of stimulus | | Brent oil held near $104 per barrel on Tuesday, as worries about demand outlook were offset by expectations the US Federal Reserve and European Central Bank may do more to stimulate the global economy. | | Pointing towards hope? | | NEW YORK - With signs of a slower economy mounting, the near-term outlook for US stocks isn’t rosy, but investors may find comfort this week from the world’s major central banks. | | Yen and pound make headway | | NEW YORK - The yen gained the most since June versus the dollar as the Bank of Japan, or BoJ, failed to offer additional stimulus efforts, fuelling bets it will fall short in its effort to stoke economic growth by weakening the currency. | |
