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HOUSTON (Reuters) - Occidental Petroleum Corp on Monday posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results.
FILE PHOTO: The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid
The U.S. producer has slashed jobs and output after the coronavirus pandemic hammered global energy demand, pressuring an energy company that had loaded up on debt in 2019 to acquire an oil rival. Its fourth-quarter loss widened to $731 million compared with a $269 million loss in the same quarter a year ago.
By Reuters Staff
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STOCKHOLM, Feb 23 (Reuters) - Sweden’s central bank could cut the benchmark rate or expand its asset purchase programme if it needs to make policy looser to ease the economy through the pandemic, Deputy Governor Anna Breman said on Tuesday.
“If more monetary policy stimulus were to be required in the short term, the tools Anna Breman sees closest to hand are a negative repo rate and increased quantitative easing,” the Riksbank said in a summary of her speech. (Reporting by Simon Johnson; editing by Niklas Pollard)
Korean won weakens against U.S. dollar South Korea benchmark bond yield rises For the midday report, please click
SEOUL, Feb 23 (Reuters) - Round-up of South Korean financial markets: South Korean shares closed lower on Tuesday, marking a negative finish for a fourth session in five, as the appeal of equities was dented amid higher bond yields and inflation outlook. The won weakened, while the benchmark bond yield rose. The benchmark KOSPI closed 9.66 points, or 0.31%, lower at 3,070.09, partially recovering from early losses of as much as 1.44%. Heavyweight Samsung Electronics slipped 0.24%, while peer SK Hynix and internet giant Naver added 1.47% and 1.03%, respectively.
Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment.
Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds details, updates prices)
LONDON, Feb 23 (Reuters) - European government bond yields resumed their rise on Tuesday, brushing aside the discomfort the European Central Bank signalled over the surge a day earlier.
ECB President Christine Lagarde said on Monday the central bank was “closely monitoring” rising borrowing costs - a comment that knocked Germany’s 10-year Bund yield off its eight-month high. The French and Italian benchmark yields also dropped.
But yields rose back on Tuesday, with Germany’s 10-year yield, the benchmark for the euro zone, heading back towards its highest since June that it hit on Monday.