Turkish investors are betting that the return of former Wall Street banker Mehmet Simsek as economic czar will herald a shift to more conventional economic policies.
Saudi Arabia pledged an additional production cut in July to stabilize the oil market, ceding ground to two of its key allies — Russia and the United Arab Emirates — which made no commitment to curb further.
Australian chemical distribution firm Redox Pty Ltd. and a group of its shareholders are seeking to raise as much as A$424 million ($280 million) in an initial public offering, potentially setting up Australia’s largest listing this year.
Oil advanced at the week’s open after Saudi Arabia said it will make an extra 1 million barrel-a-day supply cut in July, taking its production to the lowest level for several years following a slide in prices.
Morgan Stanley anticipates a sudden pullback in corporate earnings will slam the brakes on a US equity rally, a call at odds with Wall Street estimates.
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