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10 May 2018
 |
| Hong kong financial markets (The Total Investment & Insurance
Solutions) |
The price of oil continued to rise Thursday and stocks edged up
cautiously amid concerns about the U.S. withdrawal from the Iran nuclear deal
and the potential for more instability in the energy-rich Middle East.
KEEPING SCORE: France's CAC 40 added nearly
0.1 percent to 5,535. Germany's DAX rose 0.4 percent to 12,993. Britain's FTSE
100 was flat at 7,662. U.S. shares were set to drift higher with Dow futures
rising 0.1 percent and S&P 500 futures up 0.2 percent. The Total Investment & Insurance
Solutions
ENERGY: Oil rose on the news that Israel
launched military strikes against Iranian targets in Syria, raising tensions
further in the region. Benchmark U.S. crude oil added 45 cents to $71.59 a
barrel in electronic trading on the New York Mercantile Exchange. It climbed
$2.08, or 3 percent, to $71.14 per barrel on Wednesday. Brent crude, used to
price international oils, gained 26 cents to $77.47 per barrel.
ASIA'S DAY: Japan's benchmark Nikkei 225 rose
0.4 percent to close at 22,497.18. Australia's S&P/ASX 200 gained 0.2
percent to 6,118.70 while South Korea's Kospi added 0.8 percent to 2,464.16.
Hong Kong's Hang Seng was up nearly 1.0 percent to 30,809.22 and the Shanghai
Composite gained 0.5 percent to 3,174.41. Shares were higher in most other
markets apart from Singapore.
UK ECONOMY: The pound fell after the Bank of
England held off raising interest rates due to weaker economic growth so far
this year. The currency lost its daily gains and was down 0.1 percent at
$1.3529. Bank of England Governor Mark Carney blamed one-off factors like bad
weather for the weaker growth and said underlying health of the British economy
was good. But investors are reining in their expectations for another hike,
with analysts predicting there could be one only later this year. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar was flat at 109.64 yen
from 109.65 on Wednesday. The euro edged up to $1.1880 from $1.1877.The Total Investment & Insurance
Solutions
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