Market News

Crude pares gain and stocks recover from lows on prospect that governments will release oil reserves.

Pakistan’s central bank held its key policy rate citing economic uncertainty after oil prices surged as the Strait of Hormuz remained largely closed and the US threatened to deepen a conflict that has upended energy markets.

Asia’s energy-importing economies are scrambling to contain the impact of a widening Middle East war that has upended oil and gas markets and is now battering ordinary buyers, from farmers to car manufacturers and crematorium operators.

It was one of Wall Street’s hottest trades, but a trifecta of troubles has ushered in one of the steepest drawdowns for high-flying momentum stocks in years. To some equity pros, the washout looks like it’s close to a breaking point.

Iran has named the son of the late Ayatollah Ali Khamenei as its new supreme leader. As he steps into his father’s shoes, he faces a US and Israeli war machine bent on his downfall and his own population in turmoil. (Source: Bloomberg)

QatarEnergy is pushing back the start of a major liquefied natural gas expansion project to at least 2027 after a drone attack last week that forced the unprecedented closure of its Ras Laffan plant.

Investor confidence in the euro-area economy slumped due to the Iran war, clouding what had been an improving outlook.

Submarine components supplier Gabler Group AG’s shares rose as much as 13.6% on their first day of trading in Germany, buoyed by strong demand among investors for European defense firms.

The US State Department ordered non-emergency American employees and diplomats in Saudi Arabia to leave the country, citing safety risks. The move comes as Iranian attacks across the Gulf continued with fears of a broader conflict. Imad Al-Abdulqader, partner at DGA-Albright Stonebridge Group spoke to Bloomberg’s Horizons Middle East and Africa anchor Joumanna Bercetche about the likely impact on business decisions in the region due to the war. (Source: Bloomberg)

Philippine companies are bracing for higher costs as oil’s spike above $100 a barrel drags the peso to a record low, heightening the risks for an economy heavily reliant on fuel imports from the Middle East.

Traders have turned the most pessimistic on the euro since Russia invaded Ukraine four years ago as the war in the Middle East drags on, sending energy prices soaring and threatening Europe’s economy.

European banks exceeded expectations in the fourth quarter, buoyed by trading income and cost discipline, standing out in an earnings season marked by tariffs and consumer weakness.

A record volume of so-called illicit crude is being held on tankers off China’s coast, representing a potential buffer for the country’s private refiners as the war in the Middle East disrupts wider flows.

Anna Edwards, Lizzy Burden, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)

Horizons Middle East & Africa is your daily spotlight on one of the world's fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg. (Source: Bloomberg)

Mainland Chinese investors purchased a record HK$37.2 billion ($4.8 billion) worth of Hong Kong shares through a key trading link on Monday, reversing their unprecedented sale last week.

Optimism for a quick resolution of the conflict in the Middle East is rapidly ebbing in financial markets.

German industrial production and factory orders both fell at the start of the year, tempering hopes for a swift recovery that’s also set to face further headwinds from the war in Iran.

Traders amped up bets on interest-rate hikes from the European Central Bank and the Bank of England as soaring energy prices fueled fears of an inflation spike.

European blue-chip stocks fell and were set for a correction as intensifying conflict in the Middle East sent oil soaring past $100 a barrel, reigniting fears that inflation could curb economic growth.