European finance ministers said on Tuesday that Dubai's debt troubles would have little impact on their region, which is emerging from recession. "What we understand today is there is no systemic risk," French Economy Minister Christine Lagarde said. "It's not a drama for the world of finance and the impact seems to be essentially regional."
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Gold surged to an all-time high above $1,200 an ounce on Wednesday, hitting a record for a second straight day, and Asian stocks advanced as investors chased riskier assets offering higher returns. Spot gold rose 1 percent to $1,208.70 amid a broad rally in commodities on expectations of rising global demand, fueled by upbeat U.S.
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The criticism has frustrated high-frequency traders, who are increasingly going public to defend their business. Several said they expect little impact from any new regulation, and expressed confidence that their role in the marketplace would be preserved. Fast traders are proud they make their money through a battle of wits, believe in the work ethic
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Japan's Nikkei stock average edged up 0.4 percent on Wednesday to close at a two-week high, with short-covering buoying the market as the yen fell against the dollar while metals shares rose after gold hit a record high. Silicon wafer maker Sumco Corp dragged on the market as it plunged nearly 9 percent after swinging
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Dubai's debt problems clouded national day celebrations in the United Arab Emirates on Wednesday — at least for a shaken financial community trying to work out whether any of their loans enjoy government protection. Flags, fairy lights and fanfare marked the UAE's 38th anniversary at a moment when Dubai's request for a payment delay on
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Oil climbed to above $78 a barrel on Tuesday, adding to the previous session's advance, lifted by solid manufacturing data from China and easing concerns over Dubai's debt problems. Wall Street got off to a firmer opening, following on from gains in Europe and Asia as investors' appetite for relatively risky equities increased. The dollar
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The Bank of England's Monetary Policy Committee has likely nearly finished with its quantitative easing programme but won't raise interest rates from their record low until at least October next year, a Reuters poll showed. Median forecasts from the poll of around 60 analysts, taken Nov. 27-Dec. 1, found nearly all of them saying the
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European stocks bounced back on Tuesday, boosted by banks and commodity shares, as encouraging economic data and easing concerns over Dubai's debt problems prompted investors to increase their exposure to equities. At 1210 GMT, the FTSEurofirst 300 index of top European shares was up 2.1 percent at 1,005.84 points after rising as high as 1,006.00
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Worries about Dubai's debt slipped away from financial markets on Tuesday, sending stocks up sharply higher and weakening lower-yielding assets such as long-term government bonds and the dollar. Wall Street looked set for a solid start as global equities rebounded from recent weakness. The catalyst was an announcement late on Monday from Dubai World, centre
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Britain's top share index was up 1.7 percent at midday on Tuesday, with banks and miners topping the leader board as concerns abated over Dubai's debt problems. By 1220 GMT the FTSE 100 index was up 90.04 points at 5280.72, having fallen by 55.05 points or 1.1 percent on Monday to end at its lowest
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