NEW YORK: Global shares edged higher on Wednesday on the strength of U.S. equities markets that were boosted by rising oil prices and positive economic data out of the United States. U.S. factory production data showed that manufacturing was strong in August despite a slowdown due to closures related to severe storms and the ongoing microchip shortage. U.S. oil rose by more than $2 on Wednesday after stockpiles fell last week to their lowest since September 2019. However, the pan-European STOXX 600 index closed down 0.80% after U.K. data showed that inflation hit a more than nine-year high last month. "Any material change to tax policy can create a more volatile market."

Source: The Star September 15, 2021 21:00 UTC