- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
- Carpe diem: the Costa Rican women turning fish into fashion
- Senegal looks to aquaculture as fish stocks dwindle
- Will AI one day win a Nobel Prize?
- Climate change, economics muddy West's drive to curb Chinese EVs
- Argentina's Milei vetoes university budget after huge protests
- TotalEnergies plans to grow oil and gas production until 2030
- 2024 Nobels offer glimmer of hope as global crises mount
- Tokyo rallies on weak yen, Hong Kong reverses after surge
- Tunisia readies for vote as incumbent Saied eyes victory
- High childcare costs in US weigh on women's employment
- US voters seek help with crushing childcare costs
- Taiwan shuts down for second day as Typhoon Krathon to land
- Supercharged storms: how climate change amplifies cyclones
- Biden official urges talks as US port strike enters second day
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RELX | -1.3% | 46.01 | $ |
Oil extends gains, jobs report lifts Wall Street
Oil prices rose further Friday on fears Israel could strike Iranian crude facilities, while global stock markets mostly advanced on signs of continued strength in the US economy.
The US economy added 254,000 jobs last month, much more than August -- which itself was revised higher -- and way above expectations. The unemployment rate fell to 4.1 percent.
All the main US stock indexes were higher in morning trading, while London was flat and Paris and Frankfurt rose in afternoon deals.
The positive US jobs report is not likely to stop the Federal Reserve from continuing to trim interest rates now that inflation is coming under control, analysts said.
But it probably rule out a full 50-basis-points cut at the central bank's next meeting in a month's time, they said.
"With data coming in significantly stronger than anticipated, the Fed is likely to continue cutting rates at a slow and steady pace, with a 25-basis-point reduction in the November meeting being the most probable outcome," said Mahmoud Alkudsi, analyst at ADSS.
The dollar rose after the jobs report, which "put the nail in the coffin for talk" of another 50 basis point cut from the Fed, said Fawad Razaqzada, analyst at City Index and FOREX.com.
In more good news for the US economy, dockworkers on the East and Gulf Coast will be returning to work after unions and port operators reached a tentative pay deal late Thursday to end a strike that could have had serious repercussions on prices and trade.
Oil continued to rise Friday, with the price of a barrel of oil up more than 10 percent so far this week.
Escalating overnight assaults by Israel on Hezbollah positions in Lebanon come as it weighs retaliation for Iran's barrage of missiles fired at the country.
Crude prices rocketed around five percent Thursday when US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's barrage.
But analysts warned that slowing demand in many countries and plentiful supply both within and outside OPEC is likely to eventually put a cap on prices.
"While geopolitical risks are firmly in the spotlight at present, one should not forget the fundamental oil market drivers waiting in the wings, which are not supportive of a persistently higher oil price," said David Oxley, commodities economist at Capital Economics.
Earlier, shares rose in Hong Kong after a pause Thursday to the rally that started last week when Beijing unveiled a raft of economy-boosting measures.
The stimulus -- mainly targeting the property sector -- has seen stocks in the city and mainland China enjoy a blistering run of more than 20 percent on hopes that Beijing can finally reignite growth.
Hong Kong's Hang Seng Index closed up almost three percent Friday, with tech firms leading the charge, while developers fluctuated as investors awaited cues from China after big gains over the past week.
Mainland Chinese markets were closed for the Golden Week holiday.
- Key figures around 1340 GMT -
Brent North Sea Crude: UP 0.9 percent at $78.29 per barrel
West Texas Intermediate: UP 0.9 percent at $74.36 per barrel
New York - Dow: UP 0.6 percent at 42,243.07 points
New York - S&P 500: UP 0.7 percent at 5,737.99
New York - Nasdaq Composite: UP 1.1 percent at 18,115.85
London - FTSE 100: UP 0.1 percent at 8,286.66 points
Paris - CAC 40: UP 0.9 percent at 7,542.56
Frankfurt - DAX: UP 0.5 percent at 19,106.49
Hong Kong - Hang Seng Index: UP 2.8 percent at 22,736.87 (close)
Tokyo - Nikkei 225: UP 0.2 percent at 38,635.62 (close)
Shanghai - Composite: Closed for a holiday
Pound/dollar: DOWN at $1.3079 from $1.3124 on Thursday
Euro/dollar: DOWN at $1.0964 from $1.1029
Euro/pound: DOWN at 83.85 pence from 84.03 pence
Dollar/yen: UP at 148.64 from 146.92 yen
A.Mykhailo--CPN