Oil Confined to Tight Range With Mideast and Stockpiles in Focus
Oil fell to near the lowest level since mid-March, with a mildly bearish US stockpile report and tensions in the Middle East in focus.
Oil fell to near the lowest level since mid-March, with a mildly bearish US stockpile report and tensions in the Middle East in focus.
Stocks in Asia slid following a sluggish US session, with investors seeking firm evidence of an earnings recovery before taking this month’s rally further.
PCCW Ltd., the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd., according to people familiar with the matter.
Australia’s biggest banks plan to return more than A$5 billion ($3.3 billion) to shareholders just as fierce rivalry in the mortgage market shows few signs of easing.
The potential big foreign inflows into Indian bonds will help the rupee recover from near a record low, but the nation’s central bank is likely to limit the extent of gains, according to Fitch Ratings.
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