Jan 4 (Reuters) – Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID cases.
Brent futures for March delivery fell 43 cents to $81.67 a barrel, a 0.5% loss, by 0700 GMT. U.S. crude dropped 39 cents, or 0.5%, to $76.54 per barrel.
Both benchmarks plunged more than 4% on Tuesday, with Brent suffering its biggest one-day loss in more than three months.
Full coverage: REUTERS
Exclusive: Tokyo Gas Unit Nears $4.6 Billion Deal To Buy U.S. Natgas Producer
Jan 4 (Reuters) – A unit of Tokyo Gas Co Ltd (9531.T) is in advanced talks to buy U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for about $4.6 billion, including debt, people familiar with the matter said on Tuesday.
If consummated, the deal would be the latest move by a Japanese entity to secure gas in jurisdictions perceived as friendly, the importance of which has risen for the import-dependent Asian nation after supply markets for the commodity were roiled by Russia’s invasion of Ukraine.
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Stocks In Asia Gain, Dollar Sways As Fed Minutes Take Centre Stage
SINGAPORE, Jan 4 (Reuters) – Asian equities rose sharply on Wednesday, boosted by Hong Kong shares, while the dollar was on the back foot, with investors keenly awaiting minutes from the Federal Reserve’s most recent meeting to gauge the path forward for interest rates.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.3% higher and set for a third straight day of gains for the year. The index fell 20% in 2022, its worst performance since 2008.
Full coverage: REUTERS
Goldman Sachs Dealmakers See M&A Recovery In Second Half Of 2023
NEW YORK, Jan 4 (Reuters) – Goldman Sachs Group Inc’s (GS.N) top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market.
As economic forecasts turn gloomier, executives at the Wall Street powerhouse – including Dan Dees and Jim Esposito, who jointly run its global banking and markets division – said they are primed for a recovery when financing markets ease up, potentially as early as the second half of 2023.
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Morning Bid: New Year, Same Ol’ Fed
A look at the day ahead in European and global markets from Ankur Banerjee.
The start of the year is packed with a string of economic data, including U.S. job openings, that will help drive the market in the near term, with minutes from the Federal Reserve’s December meeting taking the spotlight on Wednesday.
Much has happened since that Fed meeting in December, with China taking further steps to dismantle its “zero-COVID” policy and the Bank of Japan shocking the market by widening the range for its 10-year bond yield cap. What has not changed is the market’s desire (hope, even) for the Fed to pivot away from its monetary tightening path.
Full coverage: REUTERS
