- China offers $325 bn in fiscal stimulus for ailing economy
- Small Quebec company dominates one part of NHL hockey: jerseys
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Want to film in Paris? No sexism allowed
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Little progress at key meet ahead of COP29 climate summit
- 'Party atmosphere': Skygazers treated to another aurora show
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Thunberg leads pro-Palestinian, climate protest in Milan
- Stock markets diverge before China weekend briefing
- EU questions shopping app Temu over illegal products risk
- Han Kang's books sell out in South Korea after Nobel win
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- Musk unveils robotaxi, pledges it 'before 2027'
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- On US coast, wind power foes embrace 'Save the Whales' argument
- At least 10 dead in Florida after Hurricane Milton spawns tornadoes
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Wall Street stocks retreat from records on US inflation data
- Israel strikes central Beirut, killing 22
- Solar storm could impact US hurricane recovery efforts: agency
- Delta eyes Election Day travel pullback as profits climb
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- UK's William and Kate in first joint public engagement since cancer treatment
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Musk finally unveiling his long-promised robotaxi
- London's Frieze art fair goes potty for ceramics
- US, Europe stocks fall on US inflation data
- US consumer inflation eases to 2.4% in September
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- South Korea's Han Kang wins literature Nobel
- Ikea posts fall in annual sales after lowering prices
- Stock markets diverge, oil gains after China rebounds
- World can't 'waste time' trading climate change blame: COP29 hosts
- South Korean same-sex couples make push for marriage equality
- Mumbai declares day of mourning for Indian industrialist Ratan Tata
- 7-Eleven owner restructures to fight takeover
- Sri Lanka recovering faster than expected: World Bank
- Hong Kong, Shanghai rally as most markets track Wall St record
- Uniqlo owner reports record annual earnings
- Hong Kong, Shanghai rally as markets track Wall St record
- Indonesia biomass drive threatens key forests: report
European markets rebound, Asia mixed as banking fears linger
European markets rebounded on Monday while Asian stocks were mixed at the start of what could be another rocky week for global markets thanks to lingering uncertainty about the banking sector.
Frankfurt rose 1.4 percent at the open, with troubled Deutsche Bank surging 4.5 percent after its shares nosedived on Friday. London and Paris also climbed.
In Asia, Hong Kong and Shanghai dipped, while Tokyo, Sydney and Singapore rose following a positive finish on Wall Street last week.
The US Federal Deposit Insurance Corporation (FDIC) announced during Asian trade that First Citizens had agreed to buy Silicon Valley Bank, whose collapse this month had sparked fears of a global contagion in the banking sector.
Concerns over Deutsche Bank had triggered more worries last week, prompting US President Joe Biden, German Chancellor Olaf Scholz and other European officials to try and calm investors about the health of the banking sector.
Scholz assured traders that Deutsche Bank was "very profitable" after its shares plunged on Friday.
The German bank returned to financial health last year following a major restructuring after years of problems.
Clifford Bennett, chief economist at ACY Securities, said Monday it was unlikely the German government would allow Deutsche Bank to collapse or face restructuring.
But it showed "the continuing and growing pressure on the banking system among the major Western economies", he wrote in a note.
"No bank is immune in the current climate. The forces that lead to the crisis so far seen, of higher rates and depositor uncertainty, only continue to grow."
Markets had rallied last week after financial authorities acted to prevent contagion from the collapse of US regional lenders this month.
But sentiment soured following decisions by central banks in the United States, Britain and Switzerland to hike interest rates, despite concerns about the impact of the monetary tightening on banks.
Amir Anvarzadeh of Asymmetric Advisors said markets would "remain in a state of flux as concerns about the health of the global banking system persist".
At the same time, "the market seems to have come to the view that the latest banking turmoil will do much of the work in taming inflation and chances for easier monetary policy this year have dramatically increased", he added.
- Key figures around 0750 GMT -
Tokyo - Nikkei 225: UP 0.3 percent at 27,476.87 (close)
Hong Kong - Hang Seng Index: DOWN 1.8 percent at 19,549.69
Shanghai - Composite: DOWN 0.5 percent at 3,248.97 (close)
London - FTSE 100: UP 0.4 percent at 7,432.79
Euro/dollar: DOWN at $1.0754 from $1.0764 on Friday
Pound/dollar: UP at $1.2238 from at $1.2230
Euro/pound: DOWN at 87.88 pence from 87.96 pence
Dollar/yen: UP at 131.01 yen from 130.70 yen
West Texas Intermediate: 0.7 percent at $69.74 per barrel
Brent North Sea crude: UP 0.7 percent at $75.50 per barrel
New York - Dow: UP 0.4 percent at 32,237.53 (close)
D.Avraham--CPN