News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Shares Extend Losses Amid Oil's Weakness

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Global stocks extended losses following a drop in oil prices and government bond yields, although Chinese shares got a modest boost after MSCI Inc. said it would add the country to its emerging-markets index.

French Justice Minister François Bayrou Quits Government

Emmanuel Macron's justice minister, François Bayrou, has quit the government, depriving the French president of a key ally who rallied centrists to his successful election campaign.

Rampaging Oil Bears Are Missing Half the Picture

Oil has a U.S. supply problem, but unlike in previous downturns, demand still looks firm-for now.

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ECB Corporate Debt Purchases Total $102.4 Billion

The European Central Bank said it has bought 950 securities from around 200 groups under its corporate bond-buying program, launched as part of the bank's unprecedented moves to support the eurozone economy.

China Firms Might Need to Shape Up After MSCI Lays Out Red Carpet

The index provider's decision to include mainland Chinese shares in its global benchmarks for the first time could prompt changes to how companies are run, even if the initial amount of capital inflows won't be enough to effect a sizable shift in the country's markets.

MSCI to Consider Saudi Arabia for Emerging Market Classification

Index provider MSCI Inc. has said it would consider classifying Saudi Arabia as an emerging market as early as next year, a move that could potentially divert billions of dollars into the Middle East's biggest economy.

Fed's Kaplan Wants to See Inflation Pick Up Before Raising Rates

Federal Reserve Bank of Dallas President Robert Kaplan said Tuesday he would like to see more evidence that weak inflation has passed before raising short-term interest rates again.

Saudi King Salman Ousts Nephew as Crown Prince, Installs Son

King Salman named his son as the country's new crown prince, a move that carries far-reaching implications for the monarchy and the biggest economy in the Middle East.

South Africa Consumer Price Inflation Accelerates Slightly in May

South African consumer prices increased by 5.4% in May compared with a year earlier, the country's statistics office said.

Bank Stocks Surge, Belying 'Yield Curve' Fears

Financial stocks are getting their groove back-and they are doing it without help from the bond market.

(END) Dow Jones Newswires

June 21, 2017 07:16 ET (11:16 GMT)