- 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
- Huge protests in Argentina over public university cuts
- Rally in oil prices loses steam on mixed day for global stocks
- South America treated to rare 'ring of fire' eclipse
- Biden official says port strike deal not as far as parties think
- Mexico's new president offers apology for 1968 student massacre
- Historic funding round values OpenAI at $157 billion
- Mixed US car sales in Q3 as industry hopes for post-election bounce
- Thunderstorms are a 'boiling pot' of gamma rays, scientists find
- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
SCS | -1.98% | 12.62 | $ | |
BCC | -0.9% | 138.29 | $ | |
RBGPF | 100% | 58.93 | $ | |
GSK | -2.81% | 38.37 | $ | |
RIO | -1.42% | 69.83 | $ | |
JRI | -0.6% | 13.3 | $ | |
RELX | -1.46% | 46.61 | $ | |
CMSD | -0.16% | 24.89 | $ | |
CMSC | -0.16% | 24.74 | $ | |
NGG | -2.7% | 66.97 | $ | |
VOD | -0.52% | 9.69 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
BCE | -1.77% | 33.84 | $ | |
AZN | -2.12% | 77.93 | $ | |
BTI | -2.45% | 35.11 | $ | |
BP | 0.28% | 32.46 | $ |
Markets mixed as traders await US rate decision
Stock markets traded mixed and the dollar retreated Wednesday as attention switched to the Federal Reserve and the size of its upcoming interest rate hike.
Following Tuesday's steep drop on Wall Street, Asia and Europe diverged as traders pored over more company earnings that pointed to fallout caused by decades-high inflation.
Central banks are seeking to combat runaway prices by hiking interest rates.
Fed officials are widely tipped to announce a 0.75-percentage-point raise later Wednesday.
"This increase in the interest rate is already very much priced in," noted Naeem Aslam, chief market analyst at Avatrade.
He added that should the Fed indicate a plan to raise rates by another 75 basis points at its next meeting, "that would be highly bullish for the dollar".
Focus was also on gas prices as Russian energy giant Gazprom slashed deliveries of the fuel to Europe via the Nord Stream pipeline.
EU states have accused Russia of squeezing supplies in retaliation for Western sanctions over Moscow's war in Ukraine.
The price of natural gas reference, Dutch TTF, surged nine percent to 218.13 euros per megawatt hour, building on similar gains Tuesday.
On the corporate front, Switzerland's scandal-hit banking giant Credit Suisse appointed a new chief executive as higher litigation costs and financial market volatility pushed it deeper into the red.
Ulrich Koerner, head of asset management at the bank, takes the reins from Thomas Gottstein on Monday.
The bank has been hit by a series of scandals and crises including the implosions of financial services firms Greensill and Archegos last year.
After starting the day lower on the Swiss stock exchange, Credit Suisse shares rallied more than one percent.
- Key figures at around 1045 GMT -
London - FTSE 100: UP 0.6 percent at 7,347.47 points
Frankfurt - DAX: UP 0.3 percent at 13,138.51
Paris - CAC 40: UP 0.5 percent at 6,242.18
EURO STOXX 50: UP 0.7 percent at 3,598.73
Tokyo - Nikkei 225: UP 0.2 percent at 27,715.75 (close)
Hong Kong - Hang Seng Index: DOWN 1.1 percent at 20,670.04 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,275.76 (close)
New York - Dow: DOWN 0.7 percent at 31,761.54 (close)
Euro/dollar: UP at $1.0150 from $1.0126 Tuesday
Pound/dollar: UP at $1.2061 from $1.2030
Euro/pound: UP at 84.13 pence from 84.09 pence
Dollar/yen: DOWN at 136.68 yen from 136.95 yen
Brent North Sea crude: UP 0.3 percent at $104.75 per barrel
West Texas Intermediate: UP 0.6 percent at $95.51 per barrel
M.Mendoza--CPN