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Oil prices fall for fourth straight day as US rate hike prospects emerge

UPDATE 1-Oil prices fall for fourth straight day as US rate hike prospects emerge Adds details, quotes; updates prices May 23 (Reuters) - Oil prices eased for a fourth straight session on Thursday after the minutes of a U.S. Federal Reserve meeting revealed discussions of a further tightening of interest rates if inflation remained sticky, a move that could hurt oil demand.
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Financial Times - May 23

PRESS DIGEST-Financial Times - May 23 May 23 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Hargreaves Lansdown rejects 5-bln-pound private-equity takeover approach - Anglo American extends deadline for BHP takeover after rejecting improved bid - BDO underdog wins race to lead UK's fifth-largest accounting firm Overview - British investment platform Hargreaves Lansdown HRGV.L has reje
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Australian trial of gene-edited wheat aims for 10% bigger yields

Australian trial of gene-edited wheat aims for 10% bigger yields By Peter Hobson CANBERRA, May 23 (Reuters) - The groundwork for a major trial of gene-edited wheat has begun in Australia, where a state company is growing hundreds of varieties it says could be up to 10% more productive and make farming more sustainable. Gene-editing is an emerging technique its advocates say could create more nutritious, hardier crops with higher yields and less need for water, fertiliser and chemicals.

Adnoc Completes $935 Mln Institutional Placement Of Adnoc Drilling Shares

BRIEF-Adnoc Completes $935 Mln Institutional Placement Of Adnoc Drilling Shares May 23 (Reuters) - ABU DHABI NATIONAL OIL CO [RIC:RIC:ADNOC.UL]: ADNOC SUCCESSFULLY COMPLETES $935 MILLION INSTITUTIONAL PLACEMENT OF ADNOC DRILLING SHARES PLACEMENT CONSTITUTES A SALE OF 880 MILLION SHARES PRICED AT AED 3.90 ADNOC RETAINS MAJORITY 78.5% STAKE IN ADNOC

Factors to watch - May 23

MIDEAST - Factors to watch - May 23 Here are some factors that may affect Middle East stock markets on Thursday. Reuters has not verified the press reports and does not vouch for their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asia stocks weaken on the patient approach to rate cuts MKTS/GLOB * Oil prices fall on worries of higher US interest rates O/R * PRECIOUS-Gold prices drift lower on hawkish Fed minutes GOL/ * MIDEAST STOCKS-Most major Gulf bourses drop, Abu Dhabi hits two-year low

JPY carry trades back in vogue, NZD joins club

BUZZ-COMMENT-JPY carry trades back in vogue, NZD joins club May 23 (Reuters) - Yen carries have been in vogue for a few weeks on the Tokyo view that the Bank of Japan will only grudgingly move towards normalisation and higher rates . With many central banks overseas sounding less dovish and in the "higher-for-longer" club, carry-trade demand looks set to last.
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Swiss stocks - Factors to watch on May 23

Swiss stocks - Factors to watch on May 23 ZURICH/BERLIN, May 23 (Reuters) - Here are some of the main factors that may affect Swiss stocks on Thursday: Glencore PLC GLEN.L Glencore , Rusal extend aluminium supply contract into 2025, source says. DORMAKABA HOLDING AG DOKA.S Dormakaba appoints Carsten Franke as COO. ANALYSTS' VIEWS NESTLE SA NESN.S - JP MORGAN CUTS TO NEUTRAL FROM OVERWEIGHT; CUTS TARGET PRICE TO CHF 105 FROM CHF 115 SWISS LIFE HOLDING AG SLHN.S - HSBC RAISES TARGET PRICE TO CHF 6
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Australia's Origin Energy at near 9-year high on delaying Eraring closure

BUZZ-Australia's Origin Energy at near 9-year high on delaying Eraring closure ** Shares of Australia's Origin Energy ORG.AX rise as much as 2.1% to A$10.37, their highest levels since July 2015 ** The power retailer says it has agreed with the state of New South Wales to delay the closure of Eraring coal-fired power plant ** Says to delay the clos

Street View: India's Paytm to see slow recovery in lending

BUZZ-Street View: India's Paytm to see slow recovery in lending ** Indian digital payments firm Paytm PAYT.NS reported a wider fourth-quarter loss and warned of further financial impact of the central bank order to wind down its banking unit ** At least five of the 16 analysts cut PT post results; avg rating is "hold" and median PT is at 400 rupees - LSEG data ** Shares down 2.1% SOME SIGNS OF REVIVAL BUT LONG ROAD TO RECOVERY ** Jefferies ("hold," PT: 400 rupees) expects recovery in PAYT's poin
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Prices of China's special treasuries on exchange drop after debut surge

UPDATE 1-Prices of China's special treasuries on exchange drop after debut surge Updates prices and details SHANGHAI, May 23 (Reuters) - Prices of the first batch of China's 1 trillion-yuan ($138 billion) ultra-long special treasury bonds CN2400001= dropped on Thursday to near face value in the exchange markets, a day after a wild rally on their debut.

China stocks fall on global rate worries, Taiwan tensions

China stocks fall on global rate worries, Taiwan tensions SHANGHAI, May 23 (Reuters) - China and Hong Kong stocks fell on Thursday, tracking regional markets lower as investors digested the implications of policymakers in major economies preferring to take a patient approach to monetary easing amid sticky inflation. Geopolitical tensions also kept investors nervous as China's military started two days of "punishment" drills held in five areas around Taiwan just days after Taiwan President Lai Ch
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BHP will not relent on structure, value of $49 bln Anglo offer, say sources

BHP will not relent on structure, value of $49 bln Anglo offer, say sources Miners jointly meeting UK, Australian regulators this week, says source BHP to pay Kumba capital gains tax estimated at $2 bln, says source Objective is to get access to Anglo's books, says analyst . By Melanie Burton and Scott Murdoch PERTH/HONG KONG, May 23 (Reuters) - BHP BHP.AX will stand firm on the structure and value of its latest takeover proposal for Anglo American AAL.L , focusing instead on allaying its target
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African Markets - Factors to watch on May 23

African Markets - Factors to watch on May 23 May 23 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: Democratic Republic of Congo's central bank is expected to hold its first monetary policy committee meeting for the year.
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Germany's Gerresheimer to acquire Blitz LuxCo for $866 mln

Germany's Gerresheimer to acquire Blitz LuxCo for $866 mln May 23 (Reuters) - German packaging and medical equipment maker Gerresheimer GXIG.DE said on Thursday it signed a purchase agreement for acquiring Blitz LuxCo Sarl, the holding company of the Bormioli Pharma Group, for an enterprise value of 800 million euros ($866.32 million). ($1 = 0.9234
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A weaker Modi may not be too bad for India

BREAKINGVIEWS-A weaker Modi may not be too bad for India The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Shritama Bose MUMBAI, May 23 (Reuters Breakingviews) - Sentiment is a fickle thing. A few months ago, business leaders talked up a thumping win for Narendra Modi in India's national election. After five of seven rounds of polling which began on April 19, some uncertainty is creeping in about what will emerge when votes are counted on June 4. Stock marke

Street View: Sun Pharma's FY25 profitability likely to get hurt by higher R&D spends

BUZZ-Street View: Sun Pharma's FY25 profitability likely to get hurt by higher R&D spends ** Drugmaker Sun Pharmaceutical Industries' SUN.NS Q4 profit beat analysts' avg estimate, as per LSEG data ** SUN shares down 3.7% at 1,483 rupees, among top losers in Nifty 50 .NSEI and Nifty Pharma .NIPHARM indexes, which are up 0.33% and down 1.07%, respectively BIG SPENDS IN R&D ** Jefferies ("buy", PT: 1,785 rupees) says Q4 EBITDA was impacted by increased R&D spending in the quarter which was at 7.7%

Dollar hovers near one-week high on hawkish Fed minutes; kiwi firm

FOREX-Dollar hovers near one-week high on hawkish Fed minutes; kiwi firm Updates prices By Kevin Buckland TOKYO, May 23 (Reuters) - The dollar hovered near a one-week high on Thursday following its best day this month against its major peers after minutes of the last Federal Reserve meeting revealed a willingness to raise interest rates among some officials.
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India's Gandhar Oil Refinery slips on Q4 profit drop

BUZZ-India's Gandhar Oil Refinery slips on Q4 profit drop ** Shares of Gandhar Oil Refinery GADH.NS fall as much as 9.3% to 205.1 rupees, lowest since April 1 ** Co reports 59% fall in Q4 consolidated net profit to 91.4 mln rupees ($1.1 mln), rev from ops down ~5% Y/Y ** More than 920,000 shares change hands, 2.6x the 30-day avg ** GADH trading bel

In India's heat, Delhi labourers toil in 'red hot' conditions

In India's heat, Delhi labourers toil in 'red hot' conditions By Chris Thomas and Priyanshu Singh NEW DELHI, May 23 (Reuters) - Working on a highway project in one of India's hottest areas this summer, Banwari Singh handles iron bars that he says often turn "red hot". Temperatures hit 47.8 degrees Celsius (118 degrees Fahrenheit) last Sunday, among the highest recorded in India this year, in Najafgarh, an area on the outskirts of New Delhi where Singh works.

PMIs to lead as central banks wait on rates

MORNING BID EUROPE-PMIs to lead as central banks wait on rates A look at the day ahead in European and global markets from Rae Wee Flash Purchasing Managers Index (PMI) figures in the euro zone, the UK and the United States take centre stage on Thursday, and investors will be on the lookout for whether the global growth narrative is showing signs of change.
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