Merlin Properties stock falls after Jefferies downgrade

The Japanese yen recorded its strongest one-day gain against the U.S. dollar in nearly two years after suspected intervention by Japanese authorities. The move adds to a long history of currency market interventions, from the Plaza Accord to recent efforts to curb excessive yen volatility.

Oil marketing companies’ margins are expected to remain stable as crude prices stay below $80. Recent crude price drops have significantly improved earnings for state-owned oil companies. These companies incurred substantial under-recoveries on fuel sales earlier this year. Current integrated margins are more than double historical averages, boosting annual earnings. Analysts suggest under-recoveries could be…

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