Stocks stalled as oil fuels inflation nerves

0
11
Published by
Reuters

By Tom Westbrook SYDNEY (Reuters) – Asian stockmarkets were becalmed on Wednesday as surges in oil and Chinese factory prices added to worries that a hot U.S. inflation reading could renew pressure on policymakers to lift interest rates. U.S. crude futures rose 1% to a two-week high of $84.97 a barrel in early trade and Brent futures made a one-week top of $85.35. [O/R] Factory gate prices in China have soared 13.5% year-on-year to October, data showed, beating forecasts and warning of pressure heading down supply chains to global consumers. MSCI’s broadest index of Asia-Pacific shares outside…

Read More