Buying momentum was observed at the Pakistan Stock Exchange (PSX) with the benchmark KSE -100 Index gaining nearly 2,200 points during the opening minutes of trading on Friday. At 9:39am, the benchmark index was hovering at 167,688.60 points up by 2,171.09 points or 1.31%. Moreover, buying was observed in key sectors including chemical, food and personal care products and OMCs. On Thursda
International Monetary Fund chief Kristalina Georgieva on Thursday said the global lender expected near-term demand for IMF financial support to rise to between USD20 billion to USD50 billion as result of spillovers from the war in the Middle East. Georgieva said the now-paused war was testing the global economy, with a 13 percent cut in the daily flow of the world’s oil and a 20 percent cut in
The dollar on Friday was heading for its largest weekly drop since January as other currencies gained on optimism that a ceasefire in the Gulf will hold and oil shipping will resume. Further direction for markets is likely to hang on the outcome of weekend talks between the US and Iran in Islamabad. The dollar had towered in March as one of the few bastions of safety as the US and Israeli
Oil prices climbed on Friday, driven by fresh anxiety over supplies from Saudi Arabia and as tanker traffic through the critical Strait of Hormuz remained largely frozen. Prices were still headed for a loss as nerves eased over a fragile two-week ceasefire between the US and Iran, while Israel signalled a potential diplomatic opening, saying it was ready to begin direct talks with Lebanon as so
Gold dipped on Friday as a firmer dollar and US-Iran ceasefire uncertainty weighed, but the metal stayed on course for a third consecutive weekly climb as investors priced in earlier and deeper US rate cuts, supporting non-yielding bullion. Spot gold was down 0.1% at $4,759.54 per ounce by 0316 GMT. The metal, however, has gained 1.8% so far this week. US gold futures for June delivery fell 0