Connect with us

World

Oil prices, stocks, dollar and China data in focus

Published

on

Trump, who had been due to make a decision by May 12 on the agreement, has criticized the deal in the past, taking issue with so-called “sunset clauses.” The 2015 accord has seen international sanctions on Iran lifted in exchange for the country curbing its nuclear program.

Oil prices climbed for a fourth consecutive day following the announcement as markets digested the potential impact of renewed U.S. sanctions on Iran, alongside concerns over oil production and exports in Venezuela.

U.S. West Texas Intermediate crude futures advanced 1.5 percent to settle at $70.73 per barrel, crossing the $70 on Monday for the first time since end-2014. Brent crude futures, meanwhile, added 1.7 percent to settle at $76.17.

The move higher in oil correspondingly gave energy stocks stateside a boost in the last session.

In Asia, futures pointed to a positive open for markets in the region. Nikkei futures traded in Chicago were higher by 0.05 percent at 22,480, nearly flat when compared to the benchmark’s last close.

Australian SPI futures were up 0.33 percent on Monday.

On the earnings front, full-year results for a number of Japanese companies, including Mitsubishi Corporation, Mitsui & Company, Sumitomo Corporation and Itochu Corporation, are due later in the day. Asahi Group also reports first-quarter earnings on Tuesday.

In currencies, the dollar index, which tracks the dollar against a basket of currencies, stood at 92.749 at the end of the last session after rising as high as 92.974 — its strongest level since December.

Against the yen, the greenback was steady at 109.11 at 6:53 a.m. HK/SIN.

Source link

World

Armin Laschet picked as new leader of Germany’s ruling CDU party 

Published

on

Candidate for the chairmanship of Germany’s Christian Democratic Union party, Armin Laschet, gestures as he takes part in a discussion at the party’s headquarters in Berlin on Jan. 8, 2021.

CHRISTIAN MANG / POOL / AFP) (Photo by CHRISTIAN MANG/POOL/AFP via Getty Images

FRANKFURT, Germany — Germany’s ruling CDU party picked Armin Laschet to be its new chairman on Saturday, possibly paving the way for him to replace Angela Merkel as chancellor at elections later this year. 

Laschet is currently the prime minister of Germany’s North Rhine-Westphalia region, the most populous federal state in the country. He beat rival Friedrich Merz by 521 to 466 in a vote that was forced online due to the coronavirus pandemic.

Born in 1961, he was first elected to the Bundestag (German Parliament) in 1994 and his election is seen as a continuation of Merkel’s policies, as he has pledged to keep the CDU firmly in the “middle of society.” 

With him as chairman, the CDU will likely stay on message and focus on more climate change policies and environmental topics. He has a strong Catholic background which brings him support from Christian circles within the party. 

He is a trained lawyer and also worked as a journalist at the time of German reunification between 1986 and 1991. He is seen as being very liberal and is popular with the immigrant community in his home state.

If he becomes the CDU’s candidate for chancellor at September’s elections, he could be open to various coalitions — power sharing is somewhat of a recent tradition in German politics.

He has floated the idea of a government alongside the liberals, the FDP, in a bid to win over parts of the business camp inside the CDU. But he is also seen as a natural fit for a coalition with the Greens too, as he is on good speaking terms with the party and favors environmental issues.

But the CDU’s candidate for chancellor will only be determined in the spring. And it’s not certain that the newly-elected chairman will automatically move into Merkel’s role. Markus Söder, the very popular Bavarian prime minister, and also Jens Spahn, the current health minister, may also join the race to lead Europe’s largest economy.

Merkel stepped down as leader of the CDU in 2018, and her replacement Annegret Kramp-Karrenbauer quit in February 2020 after a series of communication mishaps exposed her as being too weak to lead the chancellery.

This is a breaking news story, please check back later for more.

Source link

Continue Reading

World

Biden heads into inauguration with a stock market tailwind

Published

on

Continue Reading

World

Biden heads into inauguration with a stock market tailwind

Published

on

Continue Reading

Trending