Global stocks hit the rocks after Asian markets slump

Pedestrians are reflected in an electronic board displaying various stock prices at a brokerage in Tokyo, Japan, February 4, 2016. REUTERS/Yuya Shino

LONDON European shares gave up early gains as bank stocks dropped and losses in Asian markets sent investors scurrying for safe havens.

Yen near November 2014 highs, euro lags on banking worries
LONDON The yen rose on Tuesday to its highest against the dollar since November 2014, as a sell-off in global stocks and worries about Europe’s banks stoked demand for safe-haven currencies.

3:12pm IST
Oil prices rise, U.S. crude shrugs off equity slump
LONDON Oil prices edged up on Tuesday, clawing back some of the losses from a sell-off across broader financial markets, but a report showing supply will not drop quickly enough to erode a global surplus kept gains in check.

3:33pm IST
IEA sees global oil glut worsening, OPEC deal unlikely
LONDON The world will store unwanted oil for most of 2016 as declines in U.S. output take time and OPEC is unlikely to cut a deal with other producers to reduce ballooning output, the International Energy Agency said.

3:21pm IST
Japan Fin Min warns against yen rise, describes moves as ‘rough’
TOKYO Japanese Finance Minister Taro Aso said on Tuesday the yen’s recent moves were “rough,” issuing a verbal warning to markets against pushing up the currency too much and eroding the positive effects of premier Shinzo Abe’s stimulus policies.

3:08pm IST
Growth worries, rate hike uncertainty pull Wall Street down
U.S. stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, although a late rally in energy shares left the market well above its lows of the day. | Video

4:11am IST
World Markets
India’s Dr Reddy’s Q3 profit lags estimates as emerging market sales slip
MUMBAI, Feb 9 India’s second-largest drugmaker, Dr Reddy’s Laboratories Ltd, reported a quarterly profit that fell short of analysts’ estimates due to lower sales in emerging markets such as Russia.

3:04pm IST
European stocks lose more ground as banks falter
LONDON, Feb 9 European stocks fell on Tuesday, extending sharp losses from the previous session, as concerns persisted over the health of the region’s top banks given signs of a global economic slowdown.

Europe Markets, Regulatory News 1:56pm IST
European shares steady after Monday’s slump, sentiment fragile
LONDON, Feb 9 European equities steadied on Tuesday, underpinned by some positive earnings reports and stronger energy stocks, after suffering heavy losses in the previous session on persistent concerns over the health of the region’s top banks.

Europe Markets, Regulatory News 3:14pm IST
Resource shares lift Hong Kong index ahead of Lunar New Year holiday
Feb 5 Hong Kong stocks rose slightly on Friday, led by resource shares HSCIE>, as the market drew some strength from a firm overnight performance in U.S. equities.