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POPULAR NEWS
Gold scores biggest weekly gain since 2008

Gold futures settled with a loss on Friday but still scored the biggest weekly rise in more than 11 years in a rebound fueled in part by a weaker U.S. dollar and concerns about disruptions in the physical market for the precious metal. Gold for April delivery on Comex fell $26.20, or 1.6%, to settle at $1,625 an ounce. For the week, prices for the most-active contract rose 9.5%, which marked the biggest weekly rise since September 2008, according to FactSet. May silver dropped 14.2 cents, or...

Russia Proposes Grain Export Quota in Response to Coronavirus

Russia's Agriculture Ministry has proposed to limit grain exports for three months, it said on Friday, prompting concern among traders that the measures by the world's largest wheat exporter could be extended. In fellow Black Sea exporter Ukraine, the economy ministry on Friday said it was monitoring wheat exports daily and would take measures if needed. Bakers and millers in the country had earlier asked for grain exports to be limited to prevent a surge in bread prices if the spread of the...

European markets close lower as investors monitor coronavirus and stimulus measures

European stocks closed lower Friday as investors monitored the spread of coronavirus while policymakers scrambled to agree on a unified response. The pan-European Stoxx 600 closed down 3.2%, with banks and autos dropping more than 5% to lead losses as all sectors and major bourses slid into negative territory. European Union leaders on Thursday failed to agree on how best to shore up economies hammered by the coronavirus, which has now infected more than 533,000 people worldwide, according...

Dow drops more than 900 points on Friday, but still finishes higher for the week

Stocks fell sharply on Friday, giving back some of the strong gains experienced in the previous three days to cap off another volatile week on Wall Street. Sentiment took a hit as investors focused back on the coronavirus outbreak as the U.S. became the country with the most confirmed cases. The Dow Jones Industrial Average dropped 904 points, or about 4%. The S&P 500 slid 3.4% while the Nasdaq Composite traded 3.7% lower. The major averages cut most of their initial losses, however, in...

Hong Kong Stocks Finish With Gains (review)

Hong Kong stocks rose Friday, closing a healthy week on a positive note as investors welcomed a blockbuster US stimulus plan and pledges by the Federal Reserve to ease liquidity concerns. The Hang Seng Index added 0.56 percent, or 131.94 points, to close at 23,484.28. The benchmark Shanghai Composite Index advanced 0.26 percent, or 7.29 points, to 2,772.20 but the Shenzhen Composite Index on China's second exchange slipped 0.46 percent, or 7.80 points, to 1,693.35. Source : AFP

Oil Steady After 7-Day Rally on Supply Outlook and Stimulus Hope
Thursday, 20 February 2020 19:40 WIB | COMMODITY |BrentWTIMinyak

Oil steadied in London after the longest rally in a year on signs of tighter global supply, and hopes that Chinese economic stimulus will cushion fuel demand from the impact of the coronavirus.

Brent traded near $59 a barrel after gaining 11% during a seven-day advance. The U.S. projected that shale output, which has kept markets awash with oil for years, will see only limited growth next month. The halt of exports from OPEC member Libya is showing no signs of ending, and American sanctions on Rosneft PJSC™s trading unit could impede shipments from Venezuela.

The Organization of Petroleum Exporting Countries and its allies seem to have given up on an emergency meeting to respond to the virus, with the coalition sticking to the scheduled gathering in early March. The group may still consider supply cuts then after Saudi Arabian Energy Minister Prince Abdulaziz bin Salman compared the impact of the epidemic to a blaze that needs the fire brigade.

Oil prices have also been boosted by China™s deployment of a range of measures to support the economy, including lower borrowing costs for new corporate and household loans.

Industry data on Wednesday indicated that U.S. crude inventories swelled by more than 4 million barrels last week, though stockpiles of refined products declined. Government data due to be published later today is also forecast in a Bloomberg survey to show an increase in crude stocks.

Brent for April settlement lost 5 cents to $59.07 a barrel on the ICE Futures Europe exchange as of 10:42 a.m. in London. West Texas Intermediate for March delivery, which expires on Thursday, rose 18 cents to $53.47 on the New York Mercantile Exchange.

Source : Bloomberg

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POPULAR NEWS
Gold scores biggest weekly gain since 2008

Gold futures settled with a loss on Friday but still scored the biggest weekly rise in more than 11 years in a rebound fueled in part by a weaker U.S. dollar and concerns about disruptions in the physical market for the precious metal. Gold for April delivery on Comex fell $26.20, or 1.6%, to settle at $1,625 an ounce. For the week, prices for the most-active contract rose 9.5%, which marked the biggest weekly rise since September 2008, according to FactSet. May silver dropped 14.2 cents, or...

Russia Proposes Grain Export Quota in Response to Coronavirus

Russia's Agriculture Ministry has proposed to limit grain exports for three months, it said on Friday, prompting concern among traders that the measures by the world's largest wheat exporter could be extended. In fellow Black Sea exporter Ukraine, the economy ministry on Friday said it was monitoring wheat exports daily and would take measures if needed. Bakers and millers in the country had earlier asked for grain exports to be limited to prevent a surge in bread prices if the spread of the...

European markets close lower as investors monitor coronavirus and stimulus measures

European stocks closed lower Friday as investors monitored the spread of coronavirus while policymakers scrambled to agree on a unified response. The pan-European Stoxx 600 closed down 3.2%, with banks and autos dropping more than 5% to lead losses as all sectors and major bourses slid into negative territory. European Union leaders on Thursday failed to agree on how best to shore up economies hammered by the coronavirus, which has now infected more than 533,000 people worldwide, according...

Dow drops more than 900 points on Friday, but still finishes higher for the week

Stocks fell sharply on Friday, giving back some of the strong gains experienced in the previous three days to cap off another volatile week on Wall Street. Sentiment took a hit as investors focused back on the coronavirus outbreak as the U.S. became the country with the most confirmed cases. The Dow Jones Industrial Average dropped 904 points, or about 4%. The S&P 500 slid 3.4% while the Nasdaq Composite traded 3.7% lower. The major averages cut most of their initial losses, however, in...

Hong Kong Stocks Finish With Gains (review)

Hong Kong stocks rose Friday, closing a healthy week on a positive note as investors welcomed a blockbuster US stimulus plan and pledges by the Federal Reserve to ease liquidity concerns. The Hang Seng Index added 0.56 percent, or 131.94 points, to close at 23,484.28. The benchmark Shanghai Composite Index advanced 0.26 percent, or 7.29 points, to 2,772.20 but the Shenzhen Composite Index on China's second exchange slipped 0.46 percent, or 7.80 points, to 1,693.35. Source : AFP

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