Latest news with #USinvolvement
Zawya
an hour ago
- Business
- Zawya
Stocks struggle, oil up for 3rd week as Trump weighs US action on Iran
SYDNEY - Share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. "The 'two-week deadline' is a tactic Trump has used in other key decisions, including those involving Russia and Ukraine, and tariffs," said Tony Sycamore, analyst at IG. "Often, these deadlines expire without concrete action, (similar to TACO), and there is certainly a risk of this happening again, given the complexities of the situation." Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospects of a rate hike from the BOJ until December this year, which is a little over 50% priced in. The U.S. bond market, which was also closed on Thursday, started trading in Asian hours on a subdued note. Ten-year Treasury bond yield was flat at 4.389%, while two-year yields slipped 2 basis points to 3.925%. Overnight, the Swiss National Bank cut rates to zero and did not rule out going negative, while the Bank of England held policy steady but saw the need for further easing and Norway's central bank surprised everyone and cut rates for the first time since 2020. Gold prices eased 0.2% to $3,363 an ounce, but were set for a weekly loss of 2%. (Reporting by Stella Qiu Editing by Shri Navaratnam)
Yahoo
3 hours ago
- Business
- Yahoo
Stocks struggle, oil up for 3rd week as Trump weighs US action on Iran
By Stella Qiu SYDNEY (Reuters) -Share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. "The 'two-week deadline' is a tactic Trump has used in other key decisions, including those involving Russia and Ukraine, and tariffs," said Tony Sycamore, analyst at IG. "Often, these deadlines expire without concrete action, (similar to TACO), and there is certainly a risk of this happening again, given the complexities of the situation." Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospects of a rate hike from the BOJ until December this year, which is a little over 50% priced in. The U.S. bond market, which was also closed on Thursday, started trading in Asian hours on a subdued note. Ten-year Treasury bond yield was flat at 4.389%, while two-year yields slipped 2 basis points to 3.925%. Overnight, the Swiss National Bank cut rates to zero and did not rule out going negative, while the Bank of England held policy steady but saw the need for further easing and Norway's central bank surprised everyone and cut rates for the first time since 2020. Gold prices eased 0.2% to $3,363 an ounce, but were set for a weekly loss of 2%.
Reuters
4 hours ago
- Business
- Reuters
Stocks struggle, oil up for 3rd week as Trump weighs US action on Iran
SYDNEY, June 20 (Reuters) - Share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. "The 'two-week deadline' is a tactic Trump has used in other key decisions, including those involving Russia and Ukraine, and tariffs," said Tony Sycamore, analyst at IG. "Often, these deadlines expire without concrete action, (similar to TACO), and there is certainly a risk of this happening again, given the complexities of the situation." Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei (.N225), opens new tab slipped 0.2%. China's blue chips (.CSI300), opens new tab rose 0.3%, while Hong Kong's Hang Seng (.HSI), opens new tab gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospects of a rate hike from the BOJ until December this year, which is a little over 50% priced in. The U.S. bond market, which was also closed on Thursday, started trading in Asian hours on a subdued note. Ten-year Treasury bond yield was flat at 4.389%, while two-year yields slipped 2 basis points to 3.925%. Overnight, the Swiss National Bank cut rates to zero and did not rule out going negative, while the Bank of England held policy steady but saw the need for further easing and Norway's central bank surprised everyone and cut rates for the first time since 2020. Gold prices eased 0.2% to $3,363 an ounce, but were set for a weekly loss of 2%.
Yahoo
4 hours ago
- Business
- Yahoo
Stocks struggle, oil up for 3rd week as Trump weighs US action on Iran
By Stella Qiu SYDNEY (Reuters) -Share markets in Asia struggled for direction on Friday as fears of a potential U.S. attack on Iran hung over markets, while oil prices were poised to rise for a third straight week on the escalating Israel-Iran conflict. Overnight, Israel bombed nuclear targets in Iran, and Iran fired missiles and drones at Israel as a week-old air war intensified with no sign yet of an exit strategy from either side. The White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. The U.S. President is facing uproar from some of his MAGA base over a possible strike on Iran. Brent fell 2% on Friday to $77.22 per barrel, but is still headed for a strong weekly gain of 4%, following a 12% surge the previous week. "The 'two-week deadline' is a tactic Trump has used in other key decisions, including those involving Russia and Ukraine, and tariffs," said Tony Sycamore, analyst at IG. "Often, these deadlines expire without concrete action, (similar to TACO), and there is certainly a risk of this happening again, given the complexities of the situation." Still, a cautious mood prevailed in markets with Nasdaq futures and S&P 500 futures both 0.3% lower in Asia. U.S. markets were closed for the Juneteenth holiday, offering little direction for Asia. The MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1% but was set for a weekly drop of 1%. Japan's Nikkei slipped 0.2%. China's blue chips rose 0.3%, while Hong Kong's Hang Seng gained 0.5%, after the central bank held the benchmark lending rates steady as widely expected. In the currency markets, the dollar was on the back foot again, slipping 0.2% to 145.17 yen after data showed Japan's core inflation hit a two-year high in May, which kept pressure on the Bank of Japan to resume interest rate hikes. Investors, however, see little prospects of a rate hike from the BOJ until December this year, which is a little over 50% priced in. The U.S. bond market, which was also closed on Thursday, started trading in Asian hours on a subdued note. Ten-year Treasury bond yield was flat at 4.389%, while two-year yields slipped 2 basis points to 3.925%. Overnight, the Swiss National Bank cut rates to zero and did not rule out going negative, while the Bank of England held policy steady but saw the need for further easing and Norway's central bank surprised everyone and cut rates for the first time since 2020. Gold prices eased 0.2% to $3,363 an ounce, but were set for a weekly loss of 2%. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
13 hours ago
- Business
- Irish Times
European shares hit one-month low amid rising Middle East tensions
Escalating tensions in the and fears over potential US involvement in the region led to European shares falling to its lowest point since early May. S&P 500 futures fell 0.5 per cent despite US markets remaining closed on Thursday for a public holiday. DUBLIN The Iseq All-Share index ended the session down 1.96 per cent to 11,172.87, with losses led by Kenmare Resources. READ MORE Kenmare Resources fell 21.12 per cent to €3.66 following news it had walked away from takeover talks with its former managing director Michael Carvill and an Abu Dhabi private equity firm. The consortium made it clear it would only be willing to proceed with a bid that was below its initial £473 million (€553 million) proposal. Shares in the titanium minerals miner returned to near the levels the stock was trading at before news of the bid. Middle East uncertainty saw most Dublin-listed stocks close in the red, with just Irish Ferries owner Irish Continental Group, up 0.37 per cent, and Agriculture group Origin Enterprises, up 0.82 per cent, improving on the day. Gains made on Wednesday by airliner Ryanair on the back of a drop in oil prices were wiped out, and the share 2.63 per cent to €22.97 on Thursday as oil prices rose. In banking stocks, AIB fell 1.91 per cent to €6.70, and Bank of Ireland tumbled 2.40 per cent to €11.61. LONDON The FTSE 100 closed lower on Thursday amid ongoing Middle East concerns, after the Bank of England left interest rates unchanged at 4.25 per cent and policymakers said trade policy uncertainty would continue to hurt the economy, triggering a drop in the pound. The FTSE 100 index closed down 0.6 per cent at 8,791.80, with the mid-cap FTSE 250 ending down 1.0 per cent, at 21,073.99. Oil rose again amid concerns the situation in the Middle East could worsen. That boosted oil majors and FTSE 100 heavyweights BP and Shell, which rose 1.4 per cent and 1.1 per cent respectively. British Airways owner IAG, however, fell 3.2 per cent and low-cost airline EasyJet, was down 3 per cent at close, on concerns of rising fuel costs and travel disruption. Similarly, fears that the Middle East conflict will lead to higher inflation and slower economic growth weighed on mining stocks. Anglo American fell 3.3 per cent, Antofagasta declined 3.4 per cent and Rio Tinto dipped 2.5 per cent. Whitbread fell 1.6 per cent after reporting total group sales fell by 3.8 per cent in its first quarter. On the FTSE 250, Hays plunged 10 per cent after saying it expects annual profit to be below market consensus, as the staffing firm grapples with challenging market conditions. Shares fell in other recruitment businesses, PageGroup, down 8.8 per cent, and Robert Walters, which dropped 4.8 per cent. European recruiting shared similarly fell. EUROPE The pan-European Stoxx 600 closed down for the third consecutive day with a 0.8 per cent drop to its lowest level since May 9. US President Donald Trump kept markets guessing about American involvement in air strikes on Tehran, though markets were hopeful of potential de-escalation of tensions over upcoming EU and US talks with Iran. Much of the recent nervousness has been in markets centred around crude oil supply shocks, triggered by tensions in the oil-rich Middle East. Oil prices rose on the day and boosted the energy sector by 0.8 per cent, emerging as the session's top performer. Healthcare and utilities were the only other sectors in the green. Conversely, travel and leisure stocks led broader declines and finished 2.3 per cent lower, taking a hit from the soaring oil prices. Among stocks, Stora Enso jumped 14.7 per cent to top the Stoxx 600 after the Finnish forestry group said it was initiating a strategic review of its Swedish forest assets. – Additional reporting, Reuters, PA.
