Shares in the market heavyweight rocket after it announces an open-ended buyback process
Investors are waiting for any moves against Russian oil and gas exports that may come out of a meeting of leaders of the G7 nations in Germany
Strong early gains in Europe and a rally across Asian markets after China further eased Covid-19 restrictions are buoying sentiment
The pressing supply worries outweigh fears over the potential for a global recession
Move doesn’t mark a structural change in the supply and demand outlook underpinning prices, analyst says
Cooling oil prices tempered fears of aggressive Federal Reserve tightening of interest rates
Investors are upbeat about US inflation and think that interest rate hikes may end sooner than expected
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The JSE followed international markets higher, ending a two-day losing streak
Tight supply was overshadowed by concerns that rising interest rates could push the world economy into recession
But copper, a bellwether for economic output with its wide range of industrial and construction uses, is heading for its steepest weekly drop since March 2020
Spot gold climbs 0.1% after gold prices drop about 0.8% this week
Brent crude futures rise as Opec+ still expected to boost output from month
Stocks and bonds are on track for first weekly gain in a month
Investors are betting that an economic slowdown could retard the pace of interest rate hikes, with easing oil prices providing some relief
Fed chair says aggressive rate hikes could put jobs at risk but notes that unemployment in the US is at a historic low
Data out of Germany and France points to weaker economic activity there, while copper and oil prices sink
The US Fed chair says future rate hikes will be data-driven, with the size determined from meeting to meeting