Canadian energy companies operating offshore could face new regulations in the aftermath of the Gulf of Mexico oil spill and the more aggressive oversight may put their shares at risk.
Oil prices rallied by 2 percent to $75 a barrel on Monday as renewed optimism about the global recovery boosted the outlook for fuel demand and sent Asian and European stock markets to their highest level in four weeks.
Stock index futures pointed to a higher open on Wall Street on Monday, adding to last week's gains and tracking gains in global equities, with futures for the S&P 500 up 0.6 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.6 percent at 0821 GMT.
World stocks headed for a fourth straight day of gains on Monday as investors banked on global economic recovery to trump concerns such as euro zone sovereign debt in providing a positive backdrop for corporate earnings.
Good morning dear traders, welcome in a new trading week. There was not much action last Friday in EURUSD. In comparison to EURUSD the Cable had a real moving down after bad news of UK.
Microsoft Corp christening its new motion-sensing game system Kinect, on Sunday offered a sneak peek of upcoming titles it hopes will help draw a new generation of casual players into the 40 million-strong Xbox game console fold.
Europe's sovereign debt crisis has not pushed back the timing of a hike in the Federal Reserve's benchmark interest rate, St. Louis Federal Reserve Bank President James Bullard said on Monday. Bullard, a voting member of the Fed's rate-setting panel, also said that U.S. inflation is contained now but could become a risk in the midterm due to the large U.S. budget deficit and the Fed's ultra-easy monetary policy.
World oil prices advanced above $74 a barrel in Asian trade Monday mainly after equity markets surged in the region. Light sweet crude for July delivery was seen trading at $ 74.71 a barrel at 12.noon Singapore time while Brent crude was at $ 75.00 a barrel on the ICE futures exchange. Equity markets across Asia gained momentum with Japan's Nikkei rose 1.7 percent as traders bet the region's strong economic growth will boost company profits.
Gold prices continued its northern journey in Asian trade Monday as the dollar weakened against a basket of currencies. Gold for immediate delivery was seen trading at $1229.18 an ounce at 12 noon Singapore time while US gold futures for August delivery was at $1230.57 an ounce.
The euro rose on Monday after a burst of short-covering lifted the single currency above $1.22 and further away from a four-year low, but traders were wary about chasing gains and expected its downtrend to continue. The Australian dollar climbed to its highest in a month above $0.8560, extending a rally from late last week on improved risk tolerance and tackling the first layer in a band of resistance at $0.8550-80 which is blocking its path to higher ground.
AT&T Inc said on Sunday it would cooperate with law enforcement in any investigation of a security breach of Apple Inc's iPad that exposed personal information of the telephone company's customers.
The euro's short-covering rally took it briefly above $1.22 to its strongest in a week on Monday, although traders were wary about driving it too far, while the Australian dollar climbed to its highest point in four weeks.
United Auto Workers delegates will gather in Detroit this week to elect new leaders as the union emerges from the U.S. auto industry's near-death experience with fewer workers, lower wages and an uncertain set of bargaining chips.
Privately held Spirit Airlines said on Sunday it has canceled flights for the next few days as a pilots' strike continued.
Stock investors will keep a close eye on Europe this week, looking for signs the debt crisis may be stabilizing, while industrial production, housing starts and inflation data may offer more clues on the U.S. economic outlook.
BP Plc is unlikely to decide to cancel its dividend, a person familiar with the British energy giant said on Sunday, as the company faced pressure in the United States to suspend the payment to help pay for damage caused by a huge oil spill.
Swiss authorities have already handed over 500 accounts of UBS clients to the United States under an agreement to end a tax dispute that has threatened the bank's existence, a paper reported on Sunday.
U.S. lawmakers risk poisoning the atmosphere with China through proposed laws aimed at the yuan currency, China's official news agency said on Sunday, calling Congress members baby kissing incompetents.
Pilots at Spirit Airlines went on strike on Saturday after U.S.-mediated contract talks failed to reach an agreement, a small-carrier stalemate that could influence workers at bigger carriers.
Proposed U.S. legislation aimed at punishing China unless it lets the yuan rise would not be in line with World Trade Organisation rules, China's Ministry of Commerce said on Saturday.
Pilots at Spirit Airlines struck the company on Saturday after mediated contract talks failed to reach an agreement, a small-carrier stalemate that could influence workers at bigger carriers.
Gold prices extended gains while oil dropped at the end of this week's trade in New York. US gold futures for delivery in August gained $8, or 0.7 per cent, to $1,230.20 on the Comex in New York. The metal gained 1 per cent this week.
