- 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 equities rebound on SVB sale
European stock markets rebounded slightly Monday after US lender First Citizens bought most of collapsed rival Silicon Valley Bank, easing fears of a sector crisis.
Frankfurt rallied 1.3 percent, with shares in troubled Deutsche Bank surging more than five percent after diving Friday on investor fears over its financial health.
London and Paris stocks also jumped, with British lender Barclays and French peer BNP Paribas each gaining about two percent.
Oil rose modestly after slumping on demand fears before the weekend, while the dollar largely steadied.
- 'Relative calm' -
The US Federal Deposit Insurance Corporation (FDIC) announced that First Citizens agreed to buy the deposits and loans of SVB, whose collapse this month had sparked fears of a global contagion.
Analysts remained cautious over the outlook.
"European stock markets bounced... as relative calm returned amid the choppy seas of the banking 'crisis' as a buyer was found for Silicon Valley Bank's assets," said analyst Neil Wilson at trading firm Finalto.
The news helped "lift sentiment across the banking sector after a rocky end to last week, though the pall of banking stress still hangs over the market".
The IMF also injected a note of caution.
International Monetary Fund chief Kristalina Georgieva on Sunday warned that risks to financial stability had increased -- and stressed "the need for vigilance" following the turmoil.
Concerns over Deutsche Bank had rocked markets late week, particularly after Switzerland's enforced UBS takeover of troubled rival Credit Suisse.
The turmoil prompted US President Joe Biden, German Chancellor Olaf Scholz and other European officials to try and calm investors about the sector.
In Asia on Monday, Hong Kong and Shanghai stocks fell, while Tokyo, Sydney and Singapore rose following a positive finish on Wall Street last week.
- 'No bank is immune' -
Clifford Bennett, chief economist at ACY Securities, said 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."
Deutsche Bank returned to financial health last year following a major restructuring after years of problems.
Yet its share price has shed more than 15 percent in value so far this year.
Markets were partly soothed 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 on commercial lenders.
- Key figures around 1120 GMT -
London - FTSE 100: UP 0.8 percent at 7,462.95 points
Frankfurt - DAX: UP 1.3 percent at 15,146.43
Paris - CAC 40: UP 1.1 percent at 7,093.77
EURO STOXX 50: UP 1.0 percent at 4,172.57
Tokyo - Nikkei 225: UP 0.3 percent at 27,476.87 (close)
Hong Kong - Hang Seng Index: DOWN 1.8 percent at 19,567.69 (close)
Shanghai - Composite: DOWN 0.5 percent at 3,248.97 (close)
New York - Dow: UP 0.4 percent at 32,237.53 (close)
Euro/dollar: UP at $1.0767 from $1.0760 on Friday
Pound/dollar: UP at $1.2256 from $1.2233
Euro/pound: DOWN at 87.86 pence from 87.95 pence
Dollar/yen: UP at 131.42 yen from 130.73 yen
Brent North Sea crude: UP 0.5 percent at $75.33 per barrel
West Texas Intermediate: UP 0.5 percent at $69.58 per barrel
Ch.Lefebvre--CPN