- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
- As toll crosses 100, Trump puts Hurricane Helene at election center stage
- US Fed Chair sees 'further disinflation' in economy
- Epic Games sues Google and Samsung over app store
- Officials see no shortages from likely US port strike
- UK families of Gaza hostages warn Lebanon attack 'takes focus away'
- Shares in Stellantis, Aston Martin skid on profit warnings
- Dali prints found in London garage sold at auction
- ECB chief backs bank mergers amid UniCredit, Commerzbank talk
- China stocks soar on stimulus, but US and Europe retreat
- 100 dead in storm Helene damage, flooding across US southeast
- China stocks soar on stimulus, Europe slides on automaker woes
- German antitrust watchdog steps up monitoring of Microsoft
- Nepal's urban poor count cost of 'nightmare' floods
- E.Guinea, Gabon clash at ICJ over oil-rich islands
- New blow for UK's Starmer as growth data disappoints
- China's top banks to tweak mortgage rates to boost housing market
- Muslim women break taboos navigating east London's waterways
- Nepal dam-building spree powers electric vehicle boom
- More than 60 dead from storm Helene as rescue, cleanup efforts grow
- Dozens missing, 9 dead in migrant boat wreck off Spanish Canaries
- Death toll from Hurricane John hits eight in Mexico
- Storm Helene's toll rises as rescue and cleanup efforts gain pace
- SpaceX launches mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding as cleanup begins
- SpaceX set to launch mission to return stranded astronauts
- Storm Helene kills 44, threatens more 'catastrophic' flooding
- Boeing strike grinds on as latest talks fail to reach agreement
- Iran 'news' sites, hackers target Trump ahead of US election
- US ports brace for potential dockworkers strike
- Japan's speedy, spotless Shinkansen bullet trains turn 60
- US hurricane deaths rise to 44, fears of more 'catastrophic' flooding
- Global stocks mostly rise, cheering Beijing stimulus
- Europe en route for Moon with new simulator, says astronaut Pesquet
- Fireworks forecast if comet survives risky Sun flypast
- Argentina judge orders dictionary to delete pejorative definition of 'Jewish'
- Global stocks rise on rate hopes, Beijing stimulus
- S.African woman turns 118, among the oldest in the world
- UK clears $4 bn AI partnership between Amazon, Anthropic
- Barca fans barred from Champions League away game over racist banner
- Chinese stocks extend surge, Europe higher on Beijing stimulus
- Pope says Church must 'seek forgiveness' for child sexual abuse
- China caps week of 'bazooka' stimulus for ailing economy with rate cut
- Cuts, cash, credit: China bids to jumpstart flagging economy
- France's debt weighs heavier ahead of budget debate
- Iran treads carefully, backing Hezbollah while avoiding war
- Return to sender: waste stranded at sea stirs toxic dispute
RBGPF | 7.18% | 64.75 | $ | |
CMSC | -0.21% | 24.72 | $ | |
RYCEF | 0.14% | 7.05 | $ | |
CMSD | -1.21% | 24.78 | $ | |
NGG | -0.09% | 69.67 | $ | |
AZN | 0.37% | 77.91 | $ | |
SCS | 2.52% | 13.49 | $ | |
RIO | -0.08% | 71.17 | $ | |
BCC | -0.36% | 140.98 | $ | |
GSK | 0.42% | 40.88 | $ | |
JRI | 0.66% | 13.67 | $ | |
RELX | -0.21% | 47.46 | $ | |
VOD | -0.7% | 10.02 | $ | |
BCE | -1.12% | 34.8 | $ | |
BTI | -0.71% | 36.58 | $ | |
BP | -0.1% | 31.39 | $ |
European stocks fall as impact of Ukraine war spreads
European stock markets mostly fell Tuesday, as the impact of the Ukraine war spreads with the IMF slashing its global growth forecasts.
Wall Street was up, with the three major indices reporting rises of around 0.8 percent after opening, a marked change from Monday when markets were lower over worries about higher interest rates.
Over in Europe, trading for the first time since Thursday after an extended Easter weekend, London's benchmark FTSE 100 index was flat Tuesday afternoon, the Paris CAC 40 shed 0.7 percent and Frankfurt's DAX index was down 0.1 percent.
The International Monetary Fund sharply downgraded its 2022 global growth forecast to 3.6 percent in its latest outlook report Tuesday, 0.8 points lower than its previous estimate in January.
Energy prices are surging, debt levels are rising and shortages remain acute, the IMF noted, as multiple crises including the Ukraine war and coronavirus pandemic fuel an acceleration of inflation.
"The economic effects of the war are spreading far and wide -- like seismic waves that emanate from the epicenter of an earthquake," IMF chief economist Pierre-Olivier Gourinchas said in the report.
The downgrade was sharper for the eurozone, with the economy now expected to grow by 2.8 percent instead of 3.9 percent.
Asian markets diverged as the region weighs the impact of Covid lockdowns in China, analysts at Charles Schwab investment firm said in a note.
China's economic growth accelerated in the first quarter of the year to 4.8 percent, official data showed Monday, but the government warned of "significant challenges" ahead.
With investor sentiment "extremely negative", Patrick O'Hare of Briefing.com wrote, there is "some speculation that a contrarian rally effort could soon come to fruition".
He also noted there was a "lacklustre" response to some companies' earnings results including pharmaceutical giant Johnson & Johnson and aerospace group Lockheed Martin.
- Key figures around 1425 GMT -
London - FTSE 100: FLAT at 7,617.45 points
Frankfurt - DAX: DOWN 0.1 percent at 14,149.48
Paris - CAC 40: DOWN 0.7 percent at 6,545.16
EURO STOXX 50: DOWN 0.8 percent at 3,753.20
Tokyo - Nikkei 225: UP 0.69 percent at 26,985.09 (close)
Shanghai - Composite: DOWN 0.05 percent at 3,194.03 (close)
Hong Kong - Hang Seng Index: DOWN 2.28 percent at 21,027.76 (close)
New York - Dow: UP 1.1 percent at 34,800.82
Dollar/yen: UP at 128.60 yen from 126.54 yen
Euro/dollar: DOWN at $1.0799 from $1.0802
Pound/dollar: DOWN at $1.3004 from $1.3023
Euro/pound: UP at 83.05 pence from 82.87 pence
Brent North Sea crude: DOWN 4.4 percent at $108.19 per barrel
West Texas Intermediate: DOWN 4.6 percent at $103.23 per barrel
burs-raz/lth
L.K.Baumgartner--CPN