You are here

Asia

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range. Oil declined after the Trump budget proposal suggested selling half the crude held in the US strategic petroleum reserve.

Enron 2.0? Asia's Largest Commodity Trader Halted After Crashing To 16 Year Lows On S&P Downgrade

Enron 2.0? Asia's Largest Commodity Trader Halted After Crashing To 16 Year Lows On S&P Downgrade

Once Asia's largest commodity trader, Noble Group has been halted after crashing almost 30% this morning following S&P lowering its corporate credit rist rating to CCC+, citing continuing weak cash flows and profitability...

"We downgraded Noble because we believe the company's capital structure is not sustainable,"

 

"The negative outlook on Noble reflects the potential that the company will face distress and a non-payment of its debt obligations over the next 12 months,"

Asia Jumps, Europe Stutters As Political Rumblings Return; Oil Nears $51

Asia Jumps, Europe Stutters As Political Rumblings Return; Oil Nears $51

Global stocks were mixed to start the week, with Asian stocks higher, European stocks initially advancing then fading gains, while S&P futures are little changed after the biggest weekly drop since April (which for those keeping record was -0.4%). European shares, the euro and the pound all stumbled on Monday as rumblings in Spain, Britain and Brussels reminded investors that the region still has plenty of political uncertainty left in the tank.

Pages