Market news

Investing.com – President Trump’s decision to withdraw from the nuclear deal with Iran and the resumption of economic sanctions has led to an immediate rise in oil prices, but his overall impact depends on a number of factors and may appear over several months.

The biggest question is how much of Iranian oil will disappear from the market. Analysts say that this value can range from 250 thousand to 1 million barrels per day.

In addition, it remains an open question as to who, besides US producers, will cover the supply shortage. Saudi Arabia and other OPEC members can intervene in the situation, but this is unlikely.

Chief analyst of the energy division in Hedgeye Risk Management Joe McMonigl believes that the threat of supply interruptions have already been taken into account by the market. However, he noted that as soon as real oil disappears from the market, quotes will exceed $ 80 per barrel.

Investing.com – China’s stock market finished Monday’s trading growth by strengthening the tourism and recreation sectors, insurance and telecommunications.

At the close on the Shanghai Stock Exchange, the Shanghai Composite rose by 0.34%, the SZSE Component index went up by 0.35%.

As the leaders of growth among the components of the Shanghai Composite Index, following the results of today’s trading, shares of Henan Ancai Hi-tech Co Ltd (SS: 600207), which rose by 0.810 points (10.04%), closed at 8.880. Quotes of Changzhou Shenli Electrical Machine Incorporated Co (SS: 603819) increased by 1,650 points (10.03%), finishing the trades at 18.100. Paper ADD Industry Zhejiang Co Ltd (SS: 603089) rose in price by 2.36 points (9.99%), closing at around 25.99.

Leaders of the fall were shares of Qingdao Copton Technology Co Ltd (SS: 603798), whose price fell by 2,030 points (10.02%), finishing the session at 18.230. Shares of Shanghai Wondertek Software Co Ltd (SS: 603189) climbed by 2.190 points (10.01%), closing at 19.680, and Suzhou Xingye Materials Technology Co Ltd (SS: 603928) declined by 2.180 points (10, 01%) and finished trading at around 19,590.

The leaders of growth among the components of the SZSE Component index following the results of today’s trading were shares of Beijing SL Pharmaceutical Co Ltd (SZ: 002038), which rose in price by 9.99% to 47.23, JPMF Guangdong Co Ltd (SZ: 002600), which gained 7.73%, close at 7.25, as well as Zhejiang Wanfeng Auto Wheel Co Ltd (SZ: 002085), which rose by 6.54%, ending the session at 11.24.

The leaders of the fall were shares of Beijing Miteno Communication Technology Co Ltd (SZ: 300038), which fell in price by 10.00%, close at 15.57. Shares of Cofco Biochemical Anhui Co Ltd (SZ: 000930) lost 9.97% and finished the session at the level of 12.01. Quotations Wangsu Science Tech (SZ: 300017) fell in price by 8.02% to the level of 12.38.

On the Shanghai Stock Exchange, the number of depreciated securities (854) exceeded the number of those that closed in positive territory (465), while the quotes of 56 shares remained unchanged.

Shares of Beijing SL Pharmaceutical Co Ltd (SZ: 002038) rose to a 52-week high, rising by 9.99%, 4.29 points, and finished trading at around 47.23. Share price of Beijing Miteno Communication Technology Co Ltd (SZ: 300038) fell to a 3-year low, down by 10.00%, 1.73 points, and finished trading at 15.57.

The volatility index of CBOE China Etf Volatility, which is formed on the basis of indicators of option trading on the Shanghai Composite, did not change significantly 0.00% to the level of 19.75, reaching a new 3-month low.

Futures on gold futures for June delivery added 0.01%, or 0.10, to $ 1.320.80 per troy ounce. As for other products, the price of WTI futures for delivery in June fell by 0.48%, or 0.34, to $ 70.36 per barrel. Futures on futures for Brent crude for delivery in July fell by 0.60%, or 0.46, to $ 76.66 per barrel.

Meanwhile, in the Forex market, the pair USD/CNY increased by 0.07% to 6.3337, while the EUR/CNY rose by 0.32%, reaching the level of 7.5887.

Futures on the USD index fell by 0.19% to 92.26.

Bloomberg.com – European stocks struggled for direction following gains in Asia as a decline in energy shares outweighed optimism over waning global trade tensions. The euro and pound headed higher as the U.S. dollar came under pressure.

The Stoxx Europe 600 Index opened little changed, with oil stocks retreating and health care shares climbing. Most Asian markets advanced and equity futures pointed to a rise in U.S. shares at the open. Stocks in Malaysia erased earlier losses, while the ringgit performed better than anticipated as markets reopened following Wednesday’s unprecedented election result. Emerging-market stocks built on their first weekly advance in four weeks.

In a sign that he may be open to easing trade tensions ahead of a meeting in Washington with Chinese officials this week, President Donald Trump made a major reversal on an earlier move to block telecom equipment maker ZTE Corp. from its U.S. suppliers. Political tensions will still remain high on the agenda for the week though amid efforts to form an Italian government, ongoing Brexit turmoil, and the U.S. formally moving its embassy in Israel.

Traders closely watched Malaysia’s equity market Monday after Mahathir Mohamad ousted Najib Razak’s ruling coalition in an historic power shift. The ringgit erased a decline of almost 1 percent against the dollar, which was a fraction of the 2 percent-plus drop in one-month non-deliverable forwards in the immediate aftermath of the election. Stocks in neighboring Indonesia were hit after terrorist attacks there, though pared declines.

Elsewhere, oil retreated below $71 a barrel as the United Arab Emirates said OPEC has enough spare production capacity to mitigate any impact on crude markets if the U.S. re-imposes sanctions on Iran.

Investing.com – Australia’s stock market finished trading on Monday with growth due to strengthening of sectors of the metal industry, raw materials and energy.

At the close of the Sydney Stock Exchange, the S&P/ASX 200 rose 0.30% to a 3-month high.

In the growth leaders among the components of the S&P/ASX 200 index following the results of today’s trading were shares of GWA Group Ltd (AX: GWA), which rose in price by 0,200 p. (5.38%), to close at 3.920. Quotes Beach Energy Ltd (AX: BPT) rose by 0.070 points (4.13%), completing trades at the level of 1,765. Paper Healthscope (AX: HSO) rose in price by 0.100 p. (4.05%), to close at around 2,570.

Leaders of the fall were shares of Lynas Corp Ltd (AX: LYC), whose price fell by 0.240 points (8.82%), completing the session at 2.480. Shares of News Corp B DRC (AX: NWS) climbed 1.340 points (5.96%), closing at 21.160, while Telstra Corp Ltd (AX: TLS) declined by 0.140 points (4.38%) and finished trading at around 3,060.

On the Sydney Stock Exchange, the number of securities that rose in price (617) exceeded the number of closed shares in the red (609), while quotations of 383 shares remained almost unchanged.

Share prices of GWA Group Ltd (AX: GWA) rose to a maximum, rising 5.38%, 0.200 points, and finished trading at 3.920. Shares of Beach Energy Ltd (AX: BPT) rose to a 3-year high, rising by 4.13%, 0.070 points, and finished trading at 1.765. Share quotes of Healthscope (AX: HSO) rose to 52-week high, rising by 4.05%, 0.100 points, and completed trading at around 2,570. Share prices of Telstra Corp Ltd (AX: TLS) fell to a minimum, falling by 4.38%, 0.140 points, and finished trading at around 3,060.

The S&P/ASX 200 VIX volatility index, which is formed on the basis of trading options on the S&P/ASX 200, fell by 4.05% to 10.888.

Gold futures for June did not change 0.00%, reaching $ 1.320.70 per troy ounce. As for other products, the price of WTI futures in June fell by 0.37%, or 0.26, to $ 70.44 per barrel. Futures on Brent crude in July fell by 0.52%, or 0.40, to $ 76.72 per barrel.

Meanwhile, in the Forex market, the pair AUD/USD rose at 0.09% to 0.7549, while AUD/JPY rose 0.07% to reach 82.56.

Futures on the USD index fell by 0.17% to 92.28.

Investing.com – The US dollar was down against the Japanese yen on Monday.

At the time of publication of this material, USD/JPY is trading at 109.37, losing 0.03%.

The support is now at around 108.97, the minimum of Wednesday, and resistance is likely to come in at 110.03 – Thursday’s high.

Meanwhile, the US dollar fell against the euro and the British pound. EUR/USD, gaining 0.17%, reached the level of 1,1961, and GBP/USD, having risen by 0.16%, reached the level of 1.3565.