Australia shares steady ahead of bank earnings, budget; NZ higher
May 1Australian shares were flat on Monday as a weak performance on Wall Street checked demand ahead looming banking sector earnings and the Federal budget.
DUBAI Jan 3 Stock markets in the Gulf may rise on Tuesday as both crude oil prices and Asian bourses start their first trading day of 2017 with a firm tone.
MSCI's broadest index of Asia-Pacific shares outside Japan is up 0.4 percent as most regional markets reopen after New Year holidays. Brent crude oil is at $57.16 a barrel, close to last year's high of $57.89, hit on Dec. 12.
Most activity in Dubai, where the index rose 0.2 percent on Monday, was by short-term speculative investors as many institutional and foreign funds were away for the holidays. They may start returning on Tuesday, bidding up prices of large-cap shares.
The petrochemical sector in Saudi Arabia, which lagged slightly on Monday, may get a boost from the rise in oil prices. Many analysts expect the sector's fourth-quarter earnings to show improvement from the prior-year period.
Aljazira Capital said in a note that it expects sales in the final quarter of 2016 to have increased on a quarter-on-quarter basis, though margins may have contracted because of higher feedstock prices. (Reporting by Celine Aswad; Editing by Andrew Torchia)
WASHINGTON, April 30 U.S. congressional negotiators have hammered out a bipartisan agreement on a spending package to keep the federal government funded through the end of the current fiscal year on Sept. 30, a senior congressional aide said on Sunday.