- EVs seek to regain sales momentum at Paris Motor Show
- NASA probe Europa Clipper lifts off for Jupiter's icy moon
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- Stocks diverge, oil retreats as China disappoints markets
- Trio wins economics Nobel for work on wealth inequality
- Ex-Stasi officer jailed over 1974 Berlin border killing
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- Nearly 90, but opera legend Kabaivanska is still calling tune
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- In milestone, SpaceX 'catches' megarocket booster after test flight
- In a first, SpaceX 'catches' megarocket booster after test flight
- Bangladeshi Hindus shrug off attack worries to celebrate festival
- Ubisoft fears assassin's hit over falling sales
- Vietnam, China hold talks on calming South China Sea tensions
- SpaceX will try to 'catch' giant Starship rocket shortly before landing
- Japan's former empress Michiko discharged after surgery: reports
- Japan's former empress Michiko discharged after surgey: reports
- 'Little Gregory' murder haunts France 40 years on
- Tariffs, tax cuts, energy: What is in Trump's economic plan?
- Amazon wants to be everything to everyone
- Jewish school in Canada hit by gunfire for second time
- With medical report Harris seeks to play health card against Trump
- China-EU EV tariff talks in Brussels end with 'major differences': Beijing
- Buried Nazi past haunts Athens on liberation anniversary
- Harris to release medical report confirming fitness for presidency: campaign
- Nobel prize a timely reminder, Hiroshima locals say
- 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
CMSC | 0.12% | 24.739 | $ | |
RBGPF | 2.84% | 61.23 | $ | |
BCC | 0.72% | 143.4 | $ | |
CMSD | 0.12% | 24.98 | $ | |
JRI | -0.34% | 13.205 | $ | |
RIO | 0.53% | 67.585 | $ | |
SCS | 0.31% | 12.95 | $ | |
NGG | 0.98% | 66.895 | $ | |
BCE | -1.6% | 32.5 | $ | |
GSK | 0.74% | 39.121 | $ | |
RYCEF | 0.43% | 7.03 | $ | |
RELX | 1.09% | 47.345 | $ | |
BTI | 0.78% | 35.455 | $ | |
AZN | 1.03% | 78.155 | $ | |
VOD | 0.26% | 9.675 | $ | |
BP | -0.53% | 31.94 | $ |
Stocks wobble after busy week for central banks
World stock markets mostly rose Friday and currencies gyrated as investors digested diverging interest-rate decisions by central banks on three continents this week.
In Europe, equities climbed with Frankfurt striking a new record after an upbeat session in Asia, which was lifted by hopes China will unveil fresh measures to kickstart growth.
Wall Street stocks rose at the start of trading, but gave up those gains as European markets closed.
"European markets have ended the week on a positive note as expectations of more stimulus from China, and the belief that the current cycle of rate increases is close to coming to an end, has seen the DAX push up to another new record high," said market analyst Michael Hewson at CMC Markets.
The euro hit a one-month peak at $1.0973, one day after the European Central Bank hiked interest rates to a 22-year high and warned another hike in July was very likely to tackle high inflation. It later fell back against the dollar.
The yen struck a 15-year euro low after the Bank of Japan maintained ultra-loose monetary policy, while the dollar struggled to bounce from losses fuelled by bets the US Federal Reserve is near the end of its tightening cycle.
Higher interest rates make currencies more attractive to traders as it boosts returns from investments such as government bonds.
- 'Divergence' -
"This week has seen a divergence in global central bank policy," noted Victoria Scholar, head of investment at Interactive Investor.
"Different economies are dealing with different challenges."
Markets could face higher trading volumes and varied price action as a result of so-called Triple Witching day on Friday, when an estimated $4.2-trillion worth of stock options simultaneously expire, she added.
The Fed paused Wednesday after 10 straight interest rate increases -- but signalled more to come in order to tame inflation.
It began rapidly and aggressively raising rates in March last year to tackle high inflation, while the ECB has adopted a more gradual approach to monetary tightening.
However, both institutions have indicated they expect more hikes will be needed to bring inflation back under control.
The People's Bank of China (PBoC) went the other way this week, cutting rates to boost its flagging economy.
"China has faced a bumpier-than-expected recovery out of the pandemic, prompting its central bank to stimulate its economy," Scholar told AFP.
- Key figures around 1530 GMT -
New York - Dow: FLAT at 34,415.59 points
London - FTSE 100: UP 0.2 percent at 7,642.92 (close)
Frankfurt - DAX: UP 0.4 percent at 16,357.63 (close)
Paris - CAC 40: UP 1.3 percent at 7,388.65 (close)
EURO STOXX 50: UP 0.7 percent at 4,394.82 (close)
Tokyo - Nikkei 225: UP 0.7 percent at 33,706.08 (close)
Hong Kong - Hang Seng Index: UP 1.1 percent at 20,040.37 (close)
Shanghai - Composite: UP 0.6 percent at 3,273.33 (close)
Euro/dollar: DOWN at $1.0932 from $1.0945 on Thursday
Pound/dollar: UP at $1.2823 from $1.2784
Dollar/yen: UP at 141.64 yen from 140.29 yen
Euro/pound: DOWN at 85.24 pence from 85.62 pence
Brent North Sea crude: UP 0.1 percent at $75.77 per barrel
West Texas Intermediate: UP 0.3 percent at $70.85 per barrel
burs-rl/ach
A.Mykhailo--CPN