Traders work on the floor of the New York Stock Exchange on Thursday. Associated Press
World shares were trading in a narrow range on Thursday after major US indexes hit record highs in a pre-Independence Day rally, buoyed by the easing of trade tensions between the US and China.
European and US stocks climbed on Friday as investors kept a watch on developments at a G20 summit in Japan, where US President Donald Trump and Chinese counterpart Xi Jinping are due to hold key trade talks.
European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China’s Huawei Technologies offset a slightly more positive tone on trade.
Ratings agencies Fitch and Standard & Poor’s (S&P) downgraded Argentina’s sovereign debt rating, flagging higher chances of a default in the wake of a shock primary election result that plunged the country into its latest economic crisis.
Turkish industrial production fell for the tenth consecutive month in June, data showed, offering few signs of a pick-up in economic growth as domestic demand remains weak after last year’s currency crisis.
Brazil’s decision to sell dollars on the spot market for the first time in a decade is a sign the central bank (CB) is finally willing to reduce its $385 billion pile of foreign exchange (forex) reserves, analysts said.
A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report.