- 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
- 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
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European stocks slip on stagflation fear, before US data
European stock markets slid Friday after the Bank of England's gloomy recession warning raised the spectre of stagflation, and as investors awaited critical US payrolls data, dealers said.
London equities retreated 0.2 percent one day after the BoE unveiled a half-point interest rate hike and forecast UK inflation topping 13 percent on surging domestic energy bills.
The hike followed more aggressive monetary policy from the European Central Bank and US Federal Reserve as authorities crack down on rampant inflation in the wake of Russia's invasion of Ukraine.
India on Friday lifted borrowing costs for the third time in four months to the highest level since summer 2019.
Back in the eurozone, Frankfurt stocks slipped 0.1 percent and Paris sank 0.5 percent, despite modest gains in Asia.
Oil prices held steady, one day after WTI crude fell to the level where it had stood before the Ukraine conflict sent the market soaring.
- 'Stagflation awaits' -
"The dire warnings from the BoE are impossible to ignore as other central banks desperately try to avoid a similar fate," OANDA analyst Craig Erlam told AFP.
"It seems only a matter of time until others are forced to accept that a recession is the price to pay for getting inflation under control."
He added: "A period of stagflation now awaits the UK -- and others may not be far behind as the crushing impact of energy prices wreaks havoc on living standards and saps demand."
Stagflation is a toxic mixture of stubbornly high consumer prices and low economic growth.
Later on Friday, traders will focus on key US non-farm payrolls (NFP) data that could stoke fears of a prolonged downturn in the world's number one economy.
"Market participants will closely scrutinize today's NFP report for any signs that weakness in activity data in the US economy is starting to spill-over into the labour market with a lag which would heighten (US) recession fears," said MUFG analyst Lee Hardman.
Asian equities mostly rose Friday, with Taipei surging on easing concerns over a conflict with Beijing -- even as China conducts its largest-ever military exercises around Taiwan in response to US House Speaker Nancy Pelosi's visit earlier this week.
And while many analysts are beating the drum of a global recession, traders are also hopeful of a reprieve from monetary tightening.
"The recent fall in oil prices, which are now trading below the levels immediately before Russia's invasion of Ukraine, has contributed to the market's perception that inflation is likely to peak soon, taking pressure off the Fed to raise rates as aggressively," said National Australia Bank's Rodrigo Catril.
The Fed has said its rate decision will be guided by data, with signs of economic weakness seen as likely to mean any increases will be light.
Officials have said the US economy remains healthy despite four-decade high inflation and a sharp lift in borrowing costs.
- Key figures at around 1030 GMT -
London - FTSE 100: DOWN 0.2 percent at 7,434.14 points
Frankfurt - DAX: DOWN 0.1 percent at 13,648.93
Paris - CAC 40: DOWN 0.5 at 6,479.50
EURO STOXX 50: DOWN 0.4 percent at 3,740.74
Tokyo - Nikkei 225: UP 0.9 percent at 28,175.87 (close)
Hong Kong - Hang Seng Index: UP 0.1 percent at 20,201.94 (close)
Shanghai - Composite: UP 1.2 percent at 3,227.03 (close)
New York - Dow: DOWN 0.3 percent at 32,726.82 (close)
Euro/dollar: DOWN at $1.0225 from $1.0246 Thursday
Pound/dollar: DOWN at $1.2147 from $1.2160
Euro/pound: DOWN at 84.19 pence from 84.26 pence
Dollar/yen: UP at 133.00 yen from 132.89 yen
Brent North Sea crude: FLAT at $94.11 per barrel
West Texas Intermediate: FLAT at $88.52 per barrel
burs-rfj/lcm
L.K.Baumgartner--CPN