News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Saudi Arabia, Russia Want Nine-Month Extension to Deal on Oil Output Cuts

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Russia and Saudi Arabia's energy ministers said a production cut by the world's biggest oil producers should be extended by nine months to the end of March 2018.

European Shares Gain on Stronger Commodities

European stocks started the week higher as a climb in commodities prices lifted shares of miners and energy companies.

Global Oil Prices Jump on Talk of Extending Production Cuts

Oil futures rose sharply in Asian trading after energy ministers from Russia and Saudi Arabia said they would back a nine-month extension to a regime of global production cuts.

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Global Economy Week Ahead: Japan GDP, EU Consumer Confidence

This week, Japan releases first-quarter GDP figures, with growth expected for the fifth straight quarter, and a consumer confidence reading in Europe will help gauge how Emmanuel Macron's victory in the French presidential election might affect the economy.

China's Economy Slowed in April in 'Turning Point'

China's economic activity weakened more than expected last month on flagging factory demand, part of an anticipated gradual slowdown in the world's second-largest economy for the rest of 2017.

China's Debt Addiction Will Be Hard to Cure

China's regulators risk creating more appetite for debt even as they try to crack down on it.

China Central Bank Sets Up Panel to Study Fintech Sector

China's central bank has set up a committee on financial technology, or fintech, in a bid to enhance its study of the industry, which includes online lending platforms.

Bitcoin Faces More Scrutiny After Global Hack

In the wake of a global wave of cyberattacks that demanded payment in bitcoin, new attention is being focused once again on the digital currency's role in hacking and illegal money movements.

China's President Xi Casts Country as Guardian of Globalization

Chinese President Xi Jinping called for a more open, inclusive world order, injecting a note of geopolitical ambition into a global gathering to promote China's vision for greater economic cooperation across Asia, Europe and Africa.

Chinese Banks Rattled by Regulatory Blitz

The past two months have been tumultuous for Chinese lenders as a new banking czar has unleashed a blizzard of new directives, uncovered a fraud scandal and issued heavy fines.

(END) Dow Jones Newswires

May 15, 2017 05:15 ET (09:15 GMT)