S&P 500, Dow hit record highs as defensive shares shine
The benchmark S&P 500 and the Dow industrials hit record highs on Monday as investors moved into defensive sectors and stocks recovered from losses earlier in the session, shaking off glum economic data out of China.
Analysis: Canada city condo rebound has further to go, fueled by rental demand
Condominium markets in some of Canada’s biggest cities have rebounded strongly this year, and agents and analysts say the market could once again return to pre-pandemic red-hot conditions as rental demand surges and inventories evaporate.
U.S. Gulf of Mexico oil producers consolidation accelerates
Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.
Oil prices drop amid faltering demand outlook in China
Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.
Sydney Airport rejects improved $16.8 bln buyout bid, open to higher offer
Sydney Airport Holdings Pty Ltd (SYD.AX) on Monday rejected an improved A$22.80 billion ($16.81 billion) bid from a group of infrastructure investors, saying that it undervalued the airport operator, but that it was open to a higher offer.
Japan’s economy rebounds in Q2, COVID clouds outlook
Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit.
Asia stocks slip as China’s economy stumbles
Asian shares slid on Monday after a raft of Chinese data showed a surprisingly sharp slowdown in the engine of global growth, just as much of the world races to stem the spread of the Delta variant of COVID-19 with vaccinations.
Aramco in advanced talks on up to $25 bln Reliance deal – Bloomberg News
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
Dollar languishes near one-week low after consumer sentiment blow
The dollar held near a one-week low versus major peers on Monday, after slumping the most in almost seven weeks on Friday as diving U.S. consumer confidence hurt bets for an early tightening of Federal Reserve policy.
UK employers have strongest hiring plans in over 8 years, survey shows
British employers plan to increase staff numbers by the most in more than eight years over the coming months and few intend to make staff redundant when government furlough support ends next month, a survey showed on Monday.
