Yen and bond bulls charged on Monday while stocks struggled again, amid ongoing worries that a prolonged U.S.-China trade war and damaging Brexit could tip top economies into recession.
Saudi Aramco reported a 12% fall in half-year net profit on Monday, yet remained the world’s most profitable company, while India’s Reliance Industries said Aramco is looking to buy into its refining and petrochemicals business.
Oil prices fell on Monday amid worries about an economic slowdown and the U.S.-China trade war, which have led to a cut in the outlook for global oil demand.
Shares in Osram soared after Austrian sensor maker AMS triggered a bidding war for the German lighting group, saying it was ready to trump Bain and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion).
New ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday.
Spanish energy firm Iberdrola has agreed to sell a 40% share in British offshore wind project East Anglia One to the Green Investment Group, it said on Monday.
ABB shares jumped almost 4% in early Monday trading as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik to be its next chief executive.
ABB’s largest shareholder Investor AB is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday.
Top oil producer Saudi Aramco maintained its position as the world’s most profitable company on Monday even as it reported a 12% drop in first-half net income to $46.9 billion due to lower oil prices.
Austrian sensor specialist AMS aims to wrap up its planned takeover of German lighting group Osram in the first half next year, its chief executive said on Monday.
Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand.
Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.
Worries that a prolonged Sino-U.S. trade war could tip the world and U.S. economies into recession weighed on Asian equities on Monday, offsetting a welcome a lift from Chinese shares and a stronger-than-expected daily fixing for the yuan.
Gains by Chinese equities and the yuan’s stronger-than-expected daily fixing helped lift a broad gauge of Asian shares above water on Monday, but firm gold prices underscored investor worries over risks from a prolonged Sino-U.S. trade war.
Oil prices dipped on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
