Americas markets wrap
Latin American stocks rose on Tuesday as higher oil prices boosted energy-heavy indices in Brazil.
Brazil’s benchmark Bovespa index added 0.35 per cent to 68,041, led by a jump in shares of state-run Petrobras and oil start-up OGX, as crude oil prices climbed near a 26-month high. Continue reading »
With many Europeans on holiday and the London stock market closed, trading was light in central and eastern Europe.
Equity investors were cautious about taking on risk with year-end book closing in sight and concerns coming from Asia that China’s Christmas Day rate hike might prove an inadequate response to growing inflationary pressures. The markets finished mixed. Continue reading »
China: Hebei red brings headaches
Red wine from the inland Chinese province of Hebei is probably not the first choice of most revellers this festive season but now there is a new reason to avoid it.
In the latest of a long string of Chinese food safety scandals, six people have been detained after they allegedly chemically altered red wine and falsely labelled it a superior vintage. Continue reading »
New York headlines
Stocks slipped in Asia on Tuesday amid concerns that China’s Christmas Day rate hike and other actions to stem inflation may prove insufficient but Asian currencies rose against the US dollar on strong industrial production data from Japan.
“The global economy is recovering, but as a backdrop there’s the China overheating concern because it’s still unable to be controlled,” Danny Yan, a Hong Kong-based fund manager at Haitong International Asset Management, told Bloomberg news agency. Continue reading »
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