4 Min Read
LONDON/SYDNEY (Reuters) - Global shares hit the pause button and gold briefly crested a three-month high as surging COVID-19 cases in some Asian countries and inflation pressures tempered demand for riskier assets.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 14, 2021. REUTERS/Staff
Markets have been skittish in recent weeks as bumper supplies of central bank stimulus and rising prices in the United States and other countries fuel concerns some economies could overheat, requiring policymakers to tap on the brakes.
The MSCI World Index, a broad gauge of equity markets globally, was flat in European trade, albeit less than 2% from a recent record high. That followed its best day since February on Friday after an early week inflation-driven selloff.
By Reuters Staff
(Adds Shanghai closing prices, updates London prices)
HANOI, May 17 (Reuters) - London copper prices rose on Monday as worries over supply from top producer Chile mounted after workers at two mines rejected a contract offer from the company and threats of a strike loomed.
A union representing workers at BHP’s Escondida and Spence mines in Chile rejected the company’s contract offer, raising the risk of a strike at the two sprawling copper deposits, the union’s president said on Friday.
“Supply side issues may be back in focus” after the rejection of a final wage offer, ANZ said in a note.
3 Min Read
SINGAPORE (Reuters) - The U.S. dollar found pockets of support in Asia on Monday, but struggled to post gains, as investors are heavily positioned for it to fall further while the U.S. Federal Reserve holds interest rates low and U.S. trade and current account deficits grow.
FILE PHOTO: An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank s headquarters in Seoul April 28, 2010. REUTERS/Jo Yong-Hak
Easing commodity prices and virus outbreaks in Singapore and Taiwan - where COVID-19 had been contained - helped modest dollar gains of 0.2% against the Australian and New Zealand dollars in the early part of the Asia session. [AUD/]