Dollar rebounds after data shows lower-than-expected inflation in the US, denting the Aussie, euro and yuan
These companies use their intellectual powers and prowess to suffocate the life out of the nation
Thoko Didiza’s decision is to halt cattle movement from one property to another for any reason for a period of 21 days, reviewable weekly
Provincial chair elect indicates he will support Ramaphosa’s re-election as ANC president
The Takeover Regulation Panel gave the mobile operator a dressing down last week for issuing a statement about a potential R40bn merger
Consumer finances crumble under the pressure of rising prices and interest rates, Unisa vulnerability report shows
Some in the industry believe a ban on the export of scrap will mean a more competitive steel industry, with lower prices passed on to consumers
Kenya has a history of election disputes with more than 1,200 people killed in widespread violence after the 2007 presidential vote
Veteran seamer believes he still has plenty to offer despite turning 40
Wind-cheating design packs 525kW and 753Nm from a twin-turbo V12 engine
London — Oil prices jumped to near six-month highs on Tuesday as the US tightened sanctions on Iran, sending shares of energy companies higher but largely failing to help the currencies of the main crude-oil producers.
News that the US had told buyers of Iranian oil to stop purchases by May 1 or face sanctions pushed Brent towards $75 a barrel and made for a lively return from the four-day Easter break for Europe’s markets.
Oil and gas shares jumped more than 1.7% for their best start in six weeks, though almost every other sector suffered. So did bonds, as higher energy costs hung over profits and nudged up inflation expectations.
Foreign-exchange market volatility was still largely absent. The dollar held near a three-week high, but the usual beneficiaries of higher oil prices, the Canadian dollar and Norwegian krone, dipped to $1.33 and $8.52 respectively.
“Oil is interesting, but the interesting thing for forex is that we are not getting the usual feed-through in the petrocurren...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email firstname.lastname@example.org or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.