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Gazprom Says European Gas Prices Could Pass $3,000 Per Thousand Cubic Metres


Nov 29 (Reuters) – The export arm of Russia’s Gazprom (GAZP.MM) said on Tuesday that gas prices in Europe could surpass $3,000 per thousand cubic metres, the Interfax news agency reported.

Full coverage: REUTERS

The Yuan’s The New Dollar As Russia Rides On The Redback

MOSCOW/SHANGHAI, Nov 29 (Reuters) – Chinese entrepreneur Wang Min is delighted about Russia’s embrace of the yuan. His LED lights company can price contracts to Russian customers in yuan rather than dollars or euros, and they can pay him in yuan. It’s “win-win”, he says.

Wang’s plans have been transformed by the conflict in Ukraine and the subsequent Western sanctions on Moscow that have shut Russia’s banks and many of its companies out of the dollar and euro payment systems.

Full coverage: REUTERS

Asia Shares, Oil Prices Rally As China Speculation Swirls

SYDNEY, Nov 29 (Reuters) – Asian shares rallied on Tuesday as Beijing’s latest move to support developers boosted the property sector and rumours swirled that recent public unrest might prompt an earlier loosening in COVID-19 restrictions.

The speculation was stoked by reports Chinese health officials would hold a news conference later on Tuesday to discuss coronavirus control measures.

“News of the press conference at 3pm (0700 GMT) came out, and I think that has gotten the market excited over the possibility that we could see China continue to ease up,” said Khoon Goh, head of Asia research at ANZ.

Full coverage: REUTERS

Exclusive: South Korea’s Yoon Urges Attention To Any ‘Financial Instability’ As Money Market Jolted

SEOUL, Nov 29 (Reuters) – South Korea’s government and the central bank should pay greater attention to addressing any financial instability, President Yoon Suk-yeol told Reuters, as the money market grapples with a steep selloff amid rising interest rates and a property slump.

“There are increasing opinions that inflation has passed its peak and it’s time to slow down the speed and reduce the breadth of the rate hikes. However we must still continue to closely monitor any possible financial instability,” Yoon said during a broader interview in his office on Monday, when asked if it is time for the Bank of Korea to slow monetary tightening.

Full coverage: REUTERS

Nearing The Top?

A look at the day ahead in European and global markets from Anshuman Daga

Support for weary Chinese property developers boosted Chinese and Asian stocks on Tuesday but inflation clearly tops the agenda for European investors this session.

German and Spanish consumer prices will set the tone for markets ahead of Wednesday’s preliminary reading of euro zone inflation for November.

Though the numbers are set to show a slight cooling from the record levels hit in October, it might take a lot more to convince the European Central Bank that it can slow the pace of rate hikes.

Full coverage: REUTERS

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Industry Dynamics

UK Inflation Rate Unexpectedly Rises To 10.4% In February

LONDON, March 22 (Reuters) – British inflation unexpectedly rose to 10.4% in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest interest rate decision. Economists polled by Reuters had forecast that the annual CPI rate […]

2023-3-22 | Industry Dynamics

Dollar Pauses, Sterling Drops Ahead Of Fed, BoE

LONDON/SINGAPORE, March 21 (Reuters) – The dollar steadied and sterling fell on Tuesday as traders reckoned banking stress would keep the Federal Reserve and the Bank of England from hiking rates much further, or at all, later in the week. Investors remained concerned over the fate of the banking sector after U.S. lender First Republic shares tumbled […]

2023-3-21 | Industry Dynamics

Analysis: UBS Swallows Doomed Credit Suisse, Casting Shadow Over Switzerland

LONDON, March 20 (Reuters) – UBS Group (UBSG.S) emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender. The unprecedented move announced late on Sunday in Zurich capped a race against time by regulators to avert a […]

2023-3-20 | Industry Dynamics