Wall Street

Shares steady as oil drops on talk of output boost

Published by
Reuters

By Danilo Masoni and Andrew Galbraith MILAN/SHANGHAI (Reuters) – World shares were largely steady on Thursday after recent weakness as a drop in oil prices on bets Saudi Arabia may boost production helped balance concerns over surging inflation and monetary policy tightening. The MSCI’s benchmark for global stocks was 0.05% lower by 0816 GMT, helped by morning gains in Europe which almost offset earlier weakness in Asia where investors were put off by concerns over high inflation and the threat of recession. Derivative markets pointed to a positive start later in the United States following lo…

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