·Election defeat raised questions over ‘hard’ Brexit plan
·Davis, Barnier meet for formal talks in Brussels On Monday
Brexit talks finally began on Monday, almost a year since Britons voted to leave
the European Union and amid confusion over what exactly the U.K.
government wants from the divorce.
What U.K. Brexit Secretary David Davis describes as the “most complicated
negotiation of all time” began at 11 a.m. in Brussels with Prime Minister
Theresa May’s government already on the backfoot. An attempt to strengthen
her hand by calling an election backfired and she’s run into further domestic
strife since, while the 27 other EU members started out with more leverage
by Ian Wishart, Tim Ross and Simon Kennedy
June 19, 2017, 2:01 AM GMT+3 June 19, 2017, 1:43 PM GMT+3
·Rigs targeting crude in America climb for a 22nd straight week
·Demand to rise during third quarter, United Arab Emirates says
Oil traded near $45 a barrel following a fourth weekly loss as U.S. drillers
continued to add rigs, blunting OPEC-led efforts to rebalance an oversupplied
Futures rose 0.4 percent in New York after capping the longest run of weekly
declines since August 2015. U.S. drillers targeting crude added rigs for a 22nd
straight week, the longest stretch in three decades, according to data Friday
from Baker Hughes Inc. Demand will rise during the third quarter, United
Arab Emirates Energy Minister Suhail Mohammed Al Mazrouei said.
by Rakteem Katakey and Ben Sharples
June 19, 2017, 2:43 AM GMT+3 June 19, 2017, 2:45 PM GMT+3
·Prices fall as Fed raises rates, signals more to come
·Investors exit SPDR Gold ETF at fastest pace this year
Hedge funds were smart enough to get ahead of Janet Yellen’s bad news for the gold
Money managers pared their net-bullish wagers in the metal for the first time in four
weeks. The next day, the move was vindicated when Federal Reserve Chair Yellen
raised U.S. interest rates and sparked the biggest weekly loss for gold prices in more
than a month.
After posting gains earlier this year, the precious metal could be heading for a turning
point. The Fed reiterated plans for another hike in 2017, while the European Central
Bank is reviewing whether to maintain its loose monetary policy. Higher borrowing
costs curb the appeal of bullion, which pays no interest. Investors in SPDR Gold
Shares, the largest exchange-traded fund backed by bullion, are pulling money out at
the fastest pace this year.
by Luzi-Ann Javier
June 18, 2017, 11:00 PM GMT+3 June 19, 2017, 3:04 PM GMT+3
·MSCI decision on inclusion in global indexes expected Tuesday
·Japanese exporters bolster Topix as yen weakens against dollar
Asian shares climbed as Chinese companies advanced in Hong Kong and Shanghai
ahead of MSCI Inc.’s decision expected Tuesday on whether to add A-shares to its
global indexes, while the weaker yen supported Japanese equities.
The MSCI Asia Pacific Index rose 0.6 percent to 155.18 as of 4:50 p.m. in Hong
Kong. The Topix advanced 0.6 percent in Tokyo as Sony Corp. and NEC Corp. gained
at least 1.8 percent, while the Hang Seng China Enterprises Index added 1.3 percent. A
gauge of technology stocks climbed 1.2 percent as the region’s best-performing group,
rebounding from its steepest weekly slide since November 11.
by Fox Hu
June 19, 2017, 6:31 AM GMT+3 June 19, 2017, 11:53 AM GMT+3