World stocks lifted by Wall Street surge as Iran fears boost oil

News Image

MG News | May 07, 2018 at 04:00 PM GMT+05:00

0:00

Paris, May 7: Stock markets across Asia and the eurozone rose on Monday following a blistering lead from Wall Street as a soft jobs report soothed concerns about rising US interest rates.

Oil prices extended a rally ahead of Donald Trump's decision on the future of the Iran nuclear deal.

All three main indexes in New York clocked up sizeable gains Friday after the non-farm payrolls report showed weak wage growth, soothing anxieties that the Federal Reserve could lift borrowing costs as many as four times this year to keep inflation in check.

Hong Kong was 0.2 percent higher and Shanghai surged 1.5 percent, while Sydney was 0.4 percent up. Wellington, Taipei, Jakarta and Manila were well up.

But Tokyo ended marginally lower as traders returned following an extended holiday weekend, while Singapore was 0.2 percent off.

Seoul was closed for a public holiday.

Europe's main market London was also shut for a holiday, but Frankfurt and Paris posted modest gains.

There are now worries that markets may have plateaued, with strong earnings unable to help push gains further, analysts said.

"The big surprise from this stellar earnings season is that the market hasn't broken higher," said Greg McKenna, chief market strategist at AxiTrader.

"Certainly, the earnings have been there but it seems the narrative was molded by the comments of the Caterpillar (chief financial officer) who said the first quarter was likely the high-water mark.

"That he said that is not remarkable. That it resonated with the market is the important point."

(AFP/APP)

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,750.00 119,440.00
118,260.00
455.00
0.38%
BRENT CRUDE 72.12 73.17
71.75
-0.39
-0.54%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.84 69.79
68.45
-0.37
-0.53%
SUGAR #11 WORLD 16.42 16.58
16.40
-0.17
-1.02%

Chart of the Day


Latest News
July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m


July 30, 2025 at 03:15 PM GMT+05:00

SBP keeps policy rate unchanged at 11%



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg