Oil

May 20, 2024 12:44 PM

Global stocks, metals surge as rate cut expectations firm

Asian shares hit two-year highs while copper and gold struck records on Monday as investors wagered on interest rate cuts around the corner and China stepping up efforts to steady its ailing property sector. Brent crude futures rose to a one-week high of $84.25 a barrel after a helicopter crash killed Iran's president and Saudi Arabian state news flagged a health issue for the king, threatening fresh instability in the Middle East. Gold climbed more than 1% to $2,449.89 and copper futures ...

Asia stocks rally on renewed global rate cut optimism

Asian stocks rose on Friday, on course for a third week of gains, while the dollar was steady as fresh signs of an easing U.S. labour market stoked optimism around interest rate cuts this year ahead of next week's crucial inflation data. Sterling was steady at $1.2515, having touched a more than two-week low of $1.2446 on Thursday after Bank of England (BoE) paved the way for the start of rate cuts as soon as next month. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.66% a...