Search Site

Trends banner

ADNOC Drilling approves $788m dividend

The final cash dividend of $394m for 2024 was approved at the AGM.

Google says to buy Wiz for $32 bn

The all-cash deal brings Wiz into the Google Cloud operation.

Borouge proposes share buyback

The company had posted a 24% YoY increase in net profit to $1.24bn.

DAE to acquire 17 aircraft for $1 bn

This portfolio comprises 100 percent next-generation aircraft

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

Geopolitical tensions buffet markets, gold and oil prices climb

Gold and oil prices climbed on fears of escalating tensions in the Middle East. (AFP)
  • Wall Street opened lower but European stocks rose in afternoon trading as investors prepared for German lawmakers to vote on a massive spending boost for defense and infrastructure
  • Investors are eyeing this week's policy decisions from the US Federal Reserve, Bank of Japan and Bank of England, with all three forecast to stand pat on interest rates.

London, United Kingdom — Global stocks diverged on Tuesday as investors juggled geopolitical concerns as US President Donald Trump and Russian leader Vladimir Putin were set to hold talks.

Wall Street opened lower but European stocks rose in afternoon trading as investors prepared for German lawmakers to vote on a massive spending boost for defense and infrastructure.

Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense strikes on Gaza since a ceasefire with Hamas took effect.

Uncertainty ahead of a telephone call about Ukraine between Trump and Putin also helped boost the safe-haven metal.

The Frankfurt stocks index advanced 0.9 percent as the German government prepared to respond to concerns over the United States’ wavering commitment to European defense.

“International investors, who have increasingly invested in German stocks over the past few months, are hopeful for a significant boost in fiscal policy,” said Jochen Stanzl, chief market analyst at trading group CMC Markets.

Paris and London stock markets also advanced.

Investors are eyeing this week’s policy decisions from the US Federal Reserve, Bank of Japan and Bank of England, with all three forecast to stand pat on interest rates.

“A ‘wait and see’ approach is expected as the Fed grapples with the tough task of evaluating the impact of Trump’s tariff chaos,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.

The US central bank’s announcement comes also with updates to its outlook for the economy and interest rates this year, in light of Trump’s trade measures as well as plans to slash taxes, immigration and federal jobs.

Asian markets rallied on Tuesday following another positive day on Wall Street stoked by US data that tempered concerns about a possible recession.

Hong Kong led gains thanks to further buying of Chinese tech firms including Alibaba, Tencent and JD.com.

Electric vehicle maker BYD was also a big winner, adding more than four percent — having jumped more than six percent to a record at one point — after unveiling battery technology it says can charge in five minutes.

Shanghai also rose, along with Tokyo.

Trading in Jakarta was halted as the market tanked more than seven precent — its biggest intraday drop since 2011 — on the worries about the Indonesian economy and weakening consumer spending heading into the Muslim Eid holiday period.

Shares in Google dipped 0.3 percent after the tech giant said it will acquire cloud security platform Wiz for $32 billion, citing the need for greater cybersecurity capacity as artificial intelligence embeds itself in technology infrastructure.

Shares in Nvidia shed around one percent ahead of a major conference where it is expected to unveil new AI chips.

“This could set the direction for the next big move in NVIDIA’s stock price, and thereby all those companies currently involved in AI development,” said Trade Nation analyst David Morrison.