- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- 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
RBGPF | 4.79% | 63.86 | $ | |
NGG | 0.5% | 70.022 | $ | |
CMSC | 0.18% | 24.765 | $ | |
BP | 2.18% | 32.091 | $ | |
RELX | -0.18% | 47.375 | $ | |
SCS | -1.58% | 13.28 | $ | |
RYCEF | -0.14% | 7.04 | $ | |
GSK | -1.2% | 40.395 | $ | |
CMSD | 0.32% | 24.86 | $ | |
BTI | -0.58% | 36.37 | $ | |
AZN | 0.96% | 78.665 | $ | |
VOD | -0.86% | 9.935 | $ | |
BCC | -0.05% | 140.915 | $ | |
BCE | 0.09% | 34.83 | $ | |
RIO | -0.16% | 71.055 | $ | |
JRI | -1.03% | 13.53 | $ |
Global stocks end mostly up as demand worries weigh on oil prices
European and US stocks mostly rose Tuesday, partially rebounding from the prior session's rout, while oil prices continued to retreat on worries slowing global growth will dent demand.
A volatile day on Wall Street ended with two of the three major equity indices in positive territory amid talk that stocks may be oversold as concerns about inflation, tightening monetary policy and the war in Ukraine that have weighed on markets for much of 2022.
"The big question" is whether the market is at the end of the sell-off "or the beginning of a recovery," said Quincy Krosby, chief equity strategist of LPL Financial.
"Statistically, we probably have more to go on the downside."
While the Dow fell for the fourth straight day, the broader S&P 500 edged back up above 4,000 points and the Nasdaq jumped one percent.
London ended the day with a gain of 0.4 percent, Paris added 0.5 percent and Frankfurt rose 1.2 percent.
"European markets have seen a modest rebound from yesterday's two-month lows, after the carnage of the last three days, as investors look for signs of a possible base," said market analyst Michael Hewson at CMC Markets UK.
Between rising prices eating into the disposable income of consumers and higher borrowing costs, investors have been increasingly concerned about the possibility of recession.
"There's clearly a huge amount of worry about a recession in the markets at the minute as central banks continue to aggressively tighten against the backdrop of a slowing economy and a cost-of-living crisis," said Craig Erlam, senior market analyst at online trading platform OANDA.
Asian equities mostly sank following sharp losses on Wall Street on Monday.
Oil prices also resumed their slide lower with the benchmark US crude contract, WTI, falling under $100 a barrel.
"This week's oil price weakness has been largely driven by reports that the EU is having difficulty in reaching a consensus on its Russian oil ban," Hewson said.
"Yesterday's weak China trade numbers have also weighed into the overall calculus, as concerns grow over Chinese demand, with the major cities of Beijing and Shanghai on the receiving end of new restrictions."
Meanwhile, Bitcoin on Tuesday slumped briefly under $30,000, reaching a 10-month low.
The volatile cryptocurrency has lost more than half its value since a November surge saw it reach a record high of nearly $69,000.
- Key figures at around 1630 GMT -
New York - Dow: DOWN 0.3 percent at 32,160,74 (close)
New York - S&P 500: UP 0.3 percent at 4,001.05 (close)
New York - Nasdaq: UP 1.0 percent at 11,737.67 (close)
London - FTSE 100: UP 0.4 percent at 7,243.22 (close)
Frankfurt - DAX: UP 1.2 percent at 13,534.74 (close)
Paris - CAC 40: UP 0.5 percent at 6,116.91 (close)
EURO STOXX 50: UP 0.8 percent at 3,554.80 (close)
Hong Kong - Hang Seng Index: DOWN 1.8 percent at 19,633.69 (close)
Shanghai - Composite: UP 1.1 percent at 3,035.84 (close)
Tokyo - Nikkei 225: DOWN 0.6 percent at 26,167.10 (close)
Brent North Sea crude: DOWN 3.3 percent at $102.46 per barrel
West Texas Intermediate: DOWN 3.2 percent at $99.76 per barrel
Euro/dollar: DOWN at $1.0534 from $1.0561 on Monday
Pound/dollar: DOWN at $1.2319 from $1.2332
Euro/pound: DOWN at 85.49 pence from 85.64 pence
Dollar/yen: UP at 130.41 yen from 130.29 yen
burs-jmb/hs
Ch.Lefebvre--CPN