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  • MIDEAST STOCKS-Saudi tumbles on oil, earnings; other markets also weak
    * All major Gulf markets fall after oil posts sharp July drop * Saudi Arabia, seen by funds as over-valued, leads losses * DAMAC one of few gainers in Dubai ahead of Q2 results, dividends * Industries Qatar also tracks oil prices * Egypt gives up gains under pressure from regional investors By Olzhas Auyezov DUBAI, Aug 2 (Reuters) - Stock markets across the Middle East fell on Sunday after oil prices dropped again and Saudi Arabia, heavily influenced by the petrochemicals sector, led losses, hitting a four-month low. The main Saudi index sank 3.2 percent to 8,807 points, its biggest daily loss since late March, with nearly all stocks in the red.More

  • Factbox - New rules for the domestic investors in the Greek stock market
    (Reuters) - The Greek stock market will reopen on Monday after a five-week shutdown brought on by capital controls imposed at the height of the cash-for-reforms crisis with international lenders. The rules have been approved by the European Central Bank to avoid a new deposit flight from Greek banks. The ECB is concerned that if Greeks remove too much money from domestic banks, it may be required to raise more emergency fund for the banks.More

  • Day of losses seen ahead for reopened Greek stock market

    A Greek flag flutters outside the Athens stock exchangeBy Lefteris Papadimas ATHENS (Reuters) - Greek traders said on Sunday they expected a torrid day of losses when the Athens stock market opens after being shuttered for five weeks as part of attempts to stop Greece's financial collapse. A combination of pent-up trading, worries about the future and Greece's worsening economy could knock 20 percent or more off the Athens General Index on Monday, they said. “The possibility of seeing even a single share rise in tomorrow’s session is almost zero,” said Takis Zamanis, chief trader at Beta Securities.


  • MIDEAST STOCKS-Saudi Arabia falls on weak oil; Egypt up
    Saudi Arabia's stock market fell in early trade on Sunday after oil prices dropped, while Egypt's bourse was rose slightly after encouraging news on the country's investment projects. The main Saudi index fell 1.7 percent and petrochemicals giant Saudi Basic Industries, down 1.8 percent, was the main drag. The company's profits have been hurt by the drop in oil prices over the last 12 months and the commodity's fresh weakness is a concern for investors.More

  • Saudi regulator says Mobily's shares to resume trading on Aug 3
    Shares in Saudi Arabia's Etihad Etisalat (Mobily) will resume trading on Riyadh's bourse on Monday after the troubled telecom operator posted its financial results, the stock market regulator said in a statement. Mobily's shares have been suspended since June pending its response to an investigation by the Capital Market Authority into an accounting scandal at the company. Mobily's shares have been suspended since June.More

  • Lloyds shareholders question government's sale plan

    A branch of Lloyds Bank is seen in the City of LondonBy Sinead Cruise and Matt Scuffham LONDON (Reuters) - Shareholders in Britain's Lloyds Banking Group are calling on the government to rethink plans to sell down its stake in the lender to ensure taxpayers get the best deal. Chancellor George Osborne has pledged to sell part of the government's remaining shares in the bank to ordinary Britons in a sale reminiscent of the 1980s privatisations of British Gas and British Telecom under former prime minister Margaret Thatcher. Instead, they say the government should allow UK Financial Investments (UKFI), which manages the stake, to continue with a trading plan which enables Morgan Stanley to sell the government's shares daily on the stock market.


  • China July factory growth unexpectedly stalls - official PMI survey

    Workers install the chassis along a production line at a truck factory of Anhui Jianghuai Automobile Co. Ltd (JAC Motors) in HefeiBy Brenda Goh and Winni Zhou BEIJING (Reuters) - Growth at China's big manufacturing companies unexpectedly stalled in July as demand at home and abroad weakened, an official survey showed on Saturday, reinforcing views that the economy needs more stimulus as it faces fresh risks from a stock market slump. It did not mention any impact from a savage 30 percent drop in stock markets since mid-June, though analysts said wild price swings could hit consumer and business confidence and investment decisions, adding pressure on the already cooling economy. "It warrants more concrete policy measures to stabilise the real economy.


  • U.S. labor data weigh on dollar, Treasury yields

    A teller counts U.S. dollars at a money changer in Jakarta, IndonesiaThe dollar fell and benchmark U.S. Treasury yields touched multi-week lows on Friday as an unexpectedly weak government reading of American labor costs dulled prospects for higher U.S. interest rates. Wall Street stock prices closed down, after surrendering early gains from the Employment Cost Index data showing the smallest quarterly increase in 33 years. Oil prices declined by 2 to 3 percent on growing worries about global oversupply.


  • US stocks end lower as energy stocks slump on earnings

    FILE - In this Oct. 8, 2014 file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Global stocks were mixed on Friday, July 31, 2015, with China's stock market extending losses, after data showed the U.S. economy posted solid growth during the second quarter. (AP Photo/Mark Lennihan, File)NEW YORK (AP) — Stocks closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks.


  • Uber valued at about $51 billion after latest funding round - WSJ

    Photo illustration of logo of car-sharing service app Uber on a smartphone over a reserved lane for taxis in a street in Madrid(Reuters) - Uber Technologies Inc has closed a new round of funding that values the online taxi-hailing company at nearly $51 billion, the Wall Street Journal reported, citing people familiar with the matter. Uber raised close to $1 billion in the round, bringing its total funding to more than $5 billion, WSJ reported on Friday, citing one of the people. Investors in the latest round include Microsoft Corp and the Indian media conglomerate Bennett Coleman & Co's Times Internet, the report said.


  • Wall Street ends lower as weak oil weighs

    Traders work on the floor of the New York Stock Exchange(Reuters) - Wall Street ended on a sour note on Friday as a drop in energy stocks eclipsed wage data that supported expectations that the U.S. Federal Reserve might hold off on an interest rate.


  • July U.S.-listed options volume spikes to nine-month high
    Fear of increased volatility in the U.S. stock market and the growing proximity of a Federal Reserve interest rate hike helped boost options trading volume in July, sending it to the highest level since October. The total volume of trading in U.S.-listed equity and index options looks set to rise to about 387 million contracts in July, up 16 percent over June, according to a Reuters analysis of data from options clearinghouse OCC. Average daily trading volume in July surged to 17.3 million contracts, the highest since January.More

  • Greece's stock market to reopen as bailout talks progress

    Lawmaker Yanis Varoufakis arrives at a parliament meeting in Athens, on Friday, July 31, 2015. Greek Prime Minister Alexis Tsipras defended his flamboyant former finance minister, Yanis Varoufakis, who came under heavy fire over claims he made — and confirmed after they were leaked — that he had drafted contingency plans for a parallel payment system that could have eased a euro exit. (AP Photo/Thanassis Stavrakis)ATHENS, Greece (AP) — Greece's government announced that the Athens Stock Exchange will reopen Monday, a big step toward normalcy as talks with international creditors shifted into high gear.


  • Bullard says Fed 'in good shape' for Sept rate hike: paper
    St. Louis Federal Reserve President James Bullard said the latest U.S. economic growth data boosts the case for the central bank to raise interest rates in September, according to a Wall Street Journal report. "We are in good shape" to begin hiking rates at a policy meeting set for Sept. 16-17, Bullard, a hawkish Fed official who has long called for an earlier tightening, was quoted as saying in the online report on Friday. Bullard was quoted as saying the Fed needed to "get that behind us before we could get to the first rate rise," and that "the outlook remains fairly good for the economy." He shrugged off data on Friday showing surprisingly little growth in employer costs, the paper said.More

  • Greek stock market to reopen Monday after five-week shutdown
    Greece's stock market will reopen on Monday after a five-week shutdown caused by capital controls, but local investors will face restrictions aimed at stemming capital flight, a bourse spokeswoman said on Friday. The Athens Stock Exchange (ASE) has been shut since June 29, when the government closed banks and imposed strict limits on withdrawals and foreign transfers to avert a run on deposits. The Finance Ministry cleared the way for the exchange to resume operations by issuing a decree setting out new trading rules for local investors.More

  • Greek stock market says all shares to trade on Monday
    ATHENS (Reuters) - Foreign investors will not face restrictions on operations when trade resumes at Greece's stock exchange on Monday following a five-week shutdown caused by capital controls, a stock exchange spokeswoman said.More

  • Greek stock market volatility limit to be cut to 20 percent
    The volatility limit at Greece's stock exchange will be reduced to 20 percent from the current 30 percent when the bourse reopens on Monday following a five-week shutdown caused by capital controls, the exchange said on Friday. The Athens Stock Exchange (ASE) .ATG EXCr.AT has been shut since June 29, when the government closed banks and imposed strict limits on withdrawals and foreign transfers to prevent a run on deposits by savers and companies.More

  • London close: FTSE finishes on the front foot as investors weigh earnings and data
    (ShareCast News) - The FTSE 100 picked up steam to close on a positive note after a mixed day of corporate reports and economic data.More

  • Market overview: FTSE ends up a touch higher after mixed day of earnings and data
    (ShareCast News) - 1650 (Close): The FTSE 100 ended the day up 27.41 points to 6,696.28 after a mixed day of corporate reports and economic data. Eurozone inflation held steady in July while US consumer ...More

  • Oilpatch earnings reflect low oil prices
    Canada's oilpatch is buckling down to a "lower-for-longer scenario," in the words of one executive, after a fresh round of grim earnings. The prediction that oil prices will stay low for a long time came from Penn West Petroleum CEO Dave Roberts, who is addressing an accounting scandal as well as the need to adjust expectations in the face of oil prices below $50. Earlier this year, oil companies were predicting a bounce back in prices by the end of the year, but now that optimism is fading.More