- Arsenal not yet a match for Man City-Liverpool rivalry, says Silva
- Iran's new president calls Israel warmonger as he seeks talks with West
- Berlin warns UniCredit against Commerzbank takeover attempt
- Black Eyed Peas star harnesses AI for novel radio product
- England cricket captain Knight reprimanded over 'blackface' photo
- Barca goalkeeper Ter Stegen set to miss season after knee operation
- 'I lived a lie', tearful witness tells French mass rape trial
- 274 dead in Israeli strikes on Hezbollah strongholds in Lebanon
- Gunman revealed Trump plot months before golf course arrest: DOJ
- Trial opens in Italy student murder case that opened eyes to femicide
- Iran president accuses Israel of seeking conflict, says opposes war
- Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
- Joshua says boxing career 'far from over' after Dubois defeat
- Stock markets inch higher on rate hopes
- 182 dead in Israeli strikes on Hezbollah strongholds in Lebanon
- Friedkin Group reach deal to buy Everton
- UniCredit ups stake in Commerzbank to 21 percent
- Big rate cut was 'appropriate' first step: Fed official
- Stock markets diverge as eurozone economy struggles
- Lebanon says 100 dead in Israeli strikes on Hezbollah strongholds
- Man City's Akanji sends defiant title message after Arsenal battle
- Madrid's 'many styles' key to unbeaten streak: Ancelotti
- UK's Labour pledges economic rebuild amid free gifts row
- Barca goalkeeper Ter Stegen to undergo knee operation
- French mass rape trial moves on to new defendants
- Israel warns Lebanese as intense strikes target Hezbollah
- UK's Labour looks to be more cheerful despite gifts and welfare row
- Eurozone business activity slumps after Olympics boost
- Russia, Ukraine cross swords in sea dispute court battle
- Albania plans Sufi Muslim microstate within its borders
- EU launches WTO challenge against China dairy probe
- Murdoch's REA ups offer for property website Rightmove
- India's one-horned rhino numbers charging ahead, govt says
- Rescuers comb muddy riverbanks after Japan floods kill seven
- Asian stocks boosted by US rate cut, China stimulus hope
- Sri Lanka's new leader says no magic solution to crisis
- Israel warns Lebanese as wave of strikes hits Hezbollah
- New Socceroos coach Popovic confident he can rescue World Cup campaign
- 'Put Austrians first': On a pub crawl with far-right voters
- Trial begins in Italy student murder case that opened eyes to femicide
- Family of murdered Sri Lanka editor seek justice from new president
- Austria's far right woos anti-vaxxers with fund for vaccine 'victims'
- Long wait for justice in India's backlogged courts
- Rohingya refugees detail worsening violence in Myanmar
- Rescuers comb muddy riverbanks after Japan floods kill six
- Sri Lankan leftist leader sworn in after landslide election win
- Indonesia, NZ deny Papua rebel claim 'bribe' paid for pilot release
- Swearing, shoeys and swift legs: Singapore GP talking points
- South Korea warns of 'decisive' action against trash balloons
- Football Australia names Tony Popovic as Socceroos coach
RYCEF | 1.56% | 7.06 | $ | |
RBGPF | 3.11% | 58.83 | $ | |
CMSC | -0.08% | 25.13 | $ | |
RIO | 1.27% | 64.39 | $ | |
SCS | -0.39% | 12.87 | $ | |
NGG | 1.08% | 70.31 | $ | |
GSK | 0.33% | 40.935 | $ | |
CMSD | 0.2% | 25.07 | $ | |
BCC | 1.6% | 139.74 | $ | |
RELX | 1.63% | 48.785 | $ | |
VOD | 0.55% | 10.065 | $ | |
JRI | -0.15% | 13.3 | $ | |
BTI | 1.15% | 37.875 | $ | |
BCE | 0.07% | 35.065 | $ | |
BP | 0.33% | 32.749 | $ | |
AZN | -1.54% | 77.195 | $ |
Oil extends rally on Russia sanctions bets, stocks edge higher
Oil prices extended gains Tuesday on the prospect of further sanctions on Russia for alleged "atrocities" in some occupied Ukrainian cities, while equities edged up after a rally in New York and Europe.
European Union officials were discussing new measures against Moscow after reports -- denied by the Kremlin -- that troops had executed civilians.
Among the punishments could be a ban on imports of Russian crude, following a similar move by the United States and Britain.
White House National Security Advisor Jake Sullivan also signalled more US sanctions were on the way this week.
While Europe's economy -- particularly Germany's -- relies heavily on energy from Russia, the possibility of an embargo sent both main contracts sharply higher Monday, and they continued their rise in Asia, putting on more than one percent.
That pared some of the sharp losses seen Friday in reaction to a pledge by Washington and other major economies to unleash millions of barrels from their stockpiles to keep a lid on prices, which are fanning already high inflation.
It also offset an expected hit to demand in China from lockdowns in parts of the country -- including Shanghai, the biggest city -- sparked by a wave of Omicron outbreaks.
"In the wake of 'Russian atrocities' claims and the ensuing public outrage, there is a strong chance we could see another layer of sanctions on Russian energy," said SPI Asset Management's Stephen Innes.
"The receptiveness on the part of Europe (including Germany) to refrain from importing Russian gas has put a bid under and should keep energy prices supported."
The continued uncertainty caused by the war in Ukraine, and the blow to the global economy it is expected to deal, was unable to prevent another healthy performance on Wall Street, where the Nasdaq's surge led all three main indexes higher.
"Despite all the concerns, equities remain the best bet to achieve returns above today's elevated inflation," said markets strategist Louis Navellier.
Trade was tepid in Asia, with Hong Kong, Shanghai and Taipei closed for holidays but most markets rose.
Tokyo, Sydney, Seoul, Singapore, Jakarta, Bangkok and Wellington were slightly up, though Mumbai and Manila dropped.
London, Paris and Frankfurt all opened on the front foot.
Traders will be keeping a close eye on the release this week of minutes from the Federal Reserve's most recent policy meeting, hoping for an insight into officials' thinking over monetary policy.
After last month's expected 0.25 percentage point interest rate hike, there are increasing bets on a half-point lift in May in light of soaring inflation and strong jobs data that suggest the economy remains robust enough to absorb higher borrowing costs.
And National Australia Bank's Tapas Strickland added: "Profit reporting season in the US kicks off next week and it will be interesting to see how firms are interpreting the tea leaves, and whether earnings guidance is revised down."
- Key figures around 0720 GMT -
Tokyo - Nikkei 225: UP 0.2 percent at 27,787.98 (close)
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
London - FTSE 100: UP 0.1 percent at 7,567.98
Brent North Sea crude: UP 1.6 percent at $109.20 per barrel
West Texas Intermediate: UP 1.6 percent at $104.93 per barrel
Euro/dollar: UP at $1.0984 from $1.0978 late Monday
Pound/dollar: UP at $1.3142 from $1.3114
Euro/pound: DOWN at 83.56 pence from 83.65 pence
Dollar/yen: DOWN at 122.66 yen from 122.78 yen
New York - Dow: UP 0.3 percent at 34,921.88 (close)
W.Lapointe--BTB