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- 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
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- 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
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- Will AI one day win a Nobel Prize?
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- Argentina's Milei vetoes university budget after huge protests
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- 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
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- Biden official urges talks as US port strike enters second day
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European equities drift higher after Asian gains
European equities drifted higher Monday after Asian gains, as investors tracked the latest corporate and geopolitical news.
Markets brushed off weak Chinese data and comments indicating the Federal Reserve is wedded to its anti-inflation rate-hike campaign.
Investors in Europe were "happy to drift higher", Markets.com analyst Neil Wilson told AFP.
He added that sentiment was partly "lifted" by news that the first shipment of Ukrainian grain since the Russian invasion had left the port of Odessa.
Asia-focused lender HSBC provided another boost with a "bullish" outlook, alongside its intention to revert to quarterly shareholder dividends next year.
HSBC shares jumped 7.1 percent to 550.30 pence in the British capital.
London stocks also rose despite expectations that the Bank of England would deliver a bumper 0.50-percentage-point interest rate hike this Thursday to combat rocketing inflation.
"Sharp hikes by the US Federal Reserve and European Central Bank in July make it all the more likely that it will pull the trigger on an outsize rate hike," Wilson noted.
Global central banks are ramping up borrowing costs in an attempt to get a handle on runaway consumer price inflation.
- Weak China data -
Asian stock markets climbed, regardless of another disappointing reading on the health of the Chinese economy.
The closely watched Purchasing Managers' Index of manufacturing activity shrank in July on the back of weak demand and the strict zero-Covid measures imposed in parts of the country.
While sweeping curbs have eased in major hubs such as Shanghai and Beijing, sporadic lockdowns in other cities and towns have kept businesses and consumers worried with few signs of the policy easing.
The China data sent oil prices sharply lower on revived demand concerns ahead of Wednesday's OPEC scheduled output meeting.
Last week, strong earnings from US titans Amazon and Apple sparked healthy Wall Street gains and eased concerns about the economic impact of surging inflation and rising rates.
That came after investors took Fed chief Jerome Powell's comments Wednesday to indicate the US central bank could start slowing down its monetary tightening, providing a much-needed boost to stocks.
- Key figures at around 1145 GMT -
London - FTSE 100: UP 0.5 percent at 7,463.86 points
Frankfurt - DAX: UP 0.6 percent at 13,559.63
Paris - CAC 40: UP 0.4 at 6,475.42
EURO STOXX 50: UP 0.5 percent at 3,726.74
Tokyo - Nikkei 225: UP 0.7 percent at 27,993.35 (close)
Hong Kong - Hang Seng Index: UP 0.1 percent at 20,165.84 (close)
Shanghai - Composite: UP 0.2 percent at 3,259.96 (close)
New York - Dow: UP 1.0 percent at 32,845.13 (close)
Euro/dollar: UP at $1.0251 from $1.0228 Friday
Pound/dollar: UP at $1.2240 from $1.2189
Euro/pound: DOWN at 83.76 pence from 83.89 pence
Dollar/yen: DOWN at 132.25 yen from 133.25 yen
Brent North Sea crude: DOWN 1.3 percent at $102.63 per barrel
West Texas Intermediate: DOWN 2.0 percent at $96.62 per barrel
burs/rfj/raz
T.Morelli--CPN