GSK Plc shares slumped in the wake of a court ruling that the UK drugmaker, alongside others including Sanofi, must face trials over whether the former heartburn treatment Zantac causes cancer. from Bloomberg Markets https://ift.tt/YmW4XNk
Oil prices were broadly steady after OPEC+ agreed to extend all production curbs into next year but also provided guidance on how it plans to unwind some of these over the coming months. https://www.wsj.com/articles/oil-falls-opec-decides-to-phase-out-some-output-cuts-9ae6cc9a
A landlord for branded business and industrial parks reported higher valuations as rapidly rising rents offset the impact of higher interest rates. from Bloomberg Markets https://ift.tt/oaQrZ7v
Stock gauges in India hit intraday record highs, with the Nifty 50 index rising about 3% and the S&P BSE Sensex Total Return index last up about 2.6%. https://www.cnbc.com/2024/06/03/india-stocks-hit-record-intraday-highs-as-exit-polls-predict-a-decisive-modi-win.html
South African Finance Minister Enoch Godongwana said the African National Congress won’t be “reckless” in choosing a coalition partner after losing its parliamentary majority. from Bloomberg Politics https://ift.tt/xGM1yso
Etihad Airways is moving along with a possible initial public offering, the first for a major airline in the Middle East, in a listing that would help the Abu Dhabi flag carrier raise additional funds to expand. from Bloomberg Markets https://ift.tt/TDe9Iz5
British personal computer maker Raspberry Pi and its shareholders are looking to raise £157 million ($200 million) via an initial public offering in London, offering a ray of hope for tech listings in the financial hub. from Bloomberg Markets https://ift.tt/Owz8mni
French government bonds traded slightly higher after S&P lowered France’s credit rating by one notch to AA- from AA, with a stable outlook, in a move that markets had seen as a possibility. https://www.wsj.com/articles/jgbs-edge-higher-amid-mild-relief-boj-kept-bond-buying-amounts-738569af
Companies sold a record volume of leveraged loans last month, taking advantage of the cash chasing credit. A glance at recovery rates for defaults, however, highlights a growing risk in this debt. from Bloomberg Markets https://ift.tt/s6NPt7n
Economist Stephen Roach held firm to his gloomy view on Hong Kong and China on his first trip to the city after his sharp comments spurred rebuttals from former officials and an apparent gag order during a major Beijing conference. from Bloomberg Markets https://ift.tt/yxegCdD