News Formal

Stocks struggle to make headway as rate rises loom

  • 📰 Reuters
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Asian stock markets were pinned near seven-week lows on Thursday while the dollar stood at multi-week peaks, as a run of strong economic data had investors worrying interest rates will need to keep rising and stay high to put the brakes on inflation.

posted a record first-half profit but shares suffered their biggest drop in a year - down 7.3% - after the company warned fares would probably fall.

"We are seeing more and more evidence that consumers are stretched, consumer spending is going to be curbed," he said, pointing to a strong result from grocerCurrency trade was quietened by Japan's holiday. The dollar lingered near its strongest levels since early January, though without being able to break to fresh highs.

The euro steadied at $1.0619 while the yen, which has been grinding lower, last traded at 134.80 per dollar.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian Stock Market: Traces firmer S&P 500 Futures amid sluggish yields, off in JapanAsian Stock Market traces firmer S&P 500 Futures amid sluggish yields, off in Japan – by anilpanchal7 Asia RiskAppetite SP500 Futures YieldCurve
Source: FXStreetNews - 🏆 14. / 72 Read more »