Asian
shares rallied to a three-month high and the euro touched a one-month peak
against the dollar on Monday, as stronger-than-expected U.S. jobs data and
emerging optimism for European action on the debt crisis sharpened investor
appetite for risk.
Brent crude dropped toward $108 a barrel
on Monday as a recent surge in prices gave some investors a chance to sell
their holdings for profit, while more data was eyed for clues on the health of
the global economy and the outlook for oil demand.
The euro
hit a one-month high against the dollar on Monday as traders unwound
bearish bets on the single currency after stronger-than-expected U.S. jobs data
last week improved investors' appetite for risk.
Shares in
Samsung Electronics rebounded on Monday, rising more than 4 percent in a
market lifted by stronger-than-expected U.S. jobs data and optimism about
further easing by the European Central Bank.
Investors
will be looking to a data deluge from China this week to give the global
economy a further lift after Friday's strong U.S. jobs report. They risk being
disappointed.
Saudi
Arabian Oil Co., the world’s largest crude exporter, cut the premium used
in determining official selling prices for its Light, Medium and Heavy grades
to customers in Asia
for September shipments while raising the premium for Light crude to customers
in the U.S.
Gold inched
higher on Monday, extending gains from the previous session after
better-than-expected U.S. employment data lent support to risk appetite,
weighing on the dollar.
Australian
inflation reached 0.2% in July from the previous month, according to the TD
Securities - Melbourne Institute monthly survey. In June, the survey showed a
0.2% monthly drop. On an annual basis, the gauge rose 1.5%, compared to a 1.6%
increase in June.
Fraser and
Neave Ltd (FRNM.SI)
shares jumped to a record on speculation that a break-up of the Singapore
conglomerate will unlock more value after its board accepted Heineken's $4
billion offer for its stake in Asia Pacific Breweries.
Face book
Inc. (FB) climbed the most in seven weeks after Brian Wieser, an analyst
at Pivotal Research Group, said the world’s largest social-networking website
could step up revenue growth with ad sales.
Shares of
professional networking website LinkedIn Corp and broadcaster CBS Corp shot
up after both companies delivered better-than-expected results.
Kraft
Foods, which Thursday set Oct. 1 as the date it will split its snacks and
grocery units, reported second-quarter profit rose 5% from the same 2011
period.
American
International Group, Inc. reported after the close Thursday a
second-quarter profit of $2.3 billion, or $1.33 a share, up from $1.8 billion,
or $1.00 a share, a year ago.
Asad Khan
Financial Analyst (CFB)
050-8774861
asad@cfb.ae
Financial Analyst (CFB)
050-8774861
asad@cfb.ae
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