Russia stocks higher at close of trade; MICEX up 0.16%

Russia stocks were higher after the close on Thursday, as gains in the Power, Mining and Telecoms sectors led shares higher. At the close in Moscow, the MICEX gained 0.16%. The best performers of the session on the MICEX were Magnit, which rose 3.59% or 312.0 points to trade at 9012.0 at the close. Meanwhile, Inter rao ees added 3.02% or 0.0740 points to end at 2.5240 and Polymetal International PLC was up 2.68% or 23.00 points to...

Read More

Sterling firms, Asian stocks wobble ahead of Brexit vote

By Saikat Chatterjee HONG KONG (Reuters) - Sterling rose and Asian stocks crept higher in cautious trade on Thursday though many investors sought shelter in safe-haven assets such as the yen and government debt as they braced for Britain's vote on its fate in the European Union. Sterling climbed to a six-month high against the dollar, cementing an impressive 6 percent rise since last week as investors squared short positions ahead of the...

Read More

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.37%

Saudi Arabia stocks were lower after the close on Thursday, as losses in the Media & Publishing, Insurance and Petrochemicals sectors led shares lower. At the close in Saudi Arabia, the Tadawul All Share lost 0.37%. The best performers of the session on the Tadawul All Share were National Gas & Industrialization Co, which rose 6.75% or 1.65 points to trade at 26.10 at the close. Meanwhile, Saudi Advanced Industries Co. added 2.82%...

Read More

Sweden stocks lower at close of trade; OMX Stockholm 30 down 1.59%

Sweden stocks were lower after the close on Tuesday, as losses in the Oil & Gas, Basic Materials and Financials sectors led shares lower. At the close in Stockholm, the OMX Stockholm 30 lost 1.59% to hit a new 3-months low. The best performers of the session on the OMX Stockholm 30 were Getinge AB ser. B, which fell 0.30% or 0.5 points to trade at 166.9 at the close. Meanwhile, ABB Ltd  fell 0.42% or 0.7 points to end at 167.4 and...

Read More

China must quickly tackle rising corporate debt, warns IMF official

SHANGHAI (Reuters) - China must act quickly to address mounting corporate debt, a major source of worry about the world's second-largest economy, a senior International Monetary Fund (IMF) official said on Saturday. David Lipton, first deputy managing director of the IMF, warned in a speech to a group of economists in the southern city of Shenzhen that companies' indebtedness is a "key fault line in the Chinese economy". "Company debt problems...

Read More

US stocks end lower after weak jobs report

US stocks finished lower on Friday, led down by financeial shares, after a surprisingly weak jobs report prompted doubts about the US economy and its ability to sustain a near-term interest rate hike. The US economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply. Nonfarm payrolls increased by only 38,000 jobs last month, well below economists' forecast for an...

Read More

Payday loans face new limits under proposal from U.S. consumer bureau

By Lisa Lambert WASHINGTON (Reuters) - The U.S. agency charged with protecting consumers from financial abuse unveiled a proposal on Thursday that would limit short-term borrowings known as “payday” loans, which can carry interest rates as high as 390 percent. The Consumer Financial Protection Bureau’s proposal includes having lenders determine if some borrowers can afford to take out debt. It also calls for restrictions on loan rollovers. Payday...

Read More