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Gulf Today Report
European shares declined on Tuesday as tobacco companies weighed on UK stocks.
The pan-regional STOXX 600 index dropped 0.2% by 07:07 GMT.
UK's blue-chip FTSE 100 fell 0.4%, Germany's DAX was flat and France's CAC 40 slipped 0.3%.
Shares of British American Tobacco, Imperial Brands and Swedish Match fell between 1.7% and 5.6% in early trading following a report the Biden administration was considering requiring tobacco companies to lower the nicotine levels in all cigarettes sold in the United States.
Asian markets dropped on Tuesday as Japan fears a surge in COVID-19 cases and Wall Street declined.
Hong Kong was flat and Shanghai was down 0.1 per cent by the afternoon, while London was flat soon after the opening bell.
Sydney was down 0.7 per cent after a Reserve Bank meeting while Mumbai climbed 0.2 per cent as India battles surge in COVID-19.
According to Stephen Innes of Axi "It seems like investors might be having a bit of a second thought up here as US earnings season starts to heat up and peak optimism is beginning to set in."
In Japan, there have been calls for states of emergency in the Osaka region and possibly Tokyo following the surge in cases.
The new measures could involve tougher restrictions including asking shops and restaurants to close, according to media.
Shares in Taiwan, India and Thailand were higher, as upbeat Chinese exports data also underpinned risk appetite.
The pan-European STOXX 600 index rose 0.5%, inching closer to a record peak set last year.
The pan-European STOXX 600 index rose 0.5% by 08:13 GMT, trading less than a per cent below its record high, with bank stocks leading the gains.
China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy. The world’s second-largest
Toyota Motor Corp forecast its profit would bounce back to pre-pandemic levels this year, as the world’s biggest automaker exuded confidence it can tackle a global chip shortage that has stung its rivals. Japan’s top automaker, which has been stockpiling the
The Danish Government has confirmed its official participation in Expo 2020 Dubai, partnering the Danish Business Council at the six-month global gathering. Reem Bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Director General
Oil prices rose on Wednesday after a drop in US crude inventories reinforced Opec’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. US West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57