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- 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
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- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
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- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
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- 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
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Stock markets climb on bright US earnings and UK policy U-turns
Major global equities rose Tuesday, with sentiment soothed after a series of upbeat US earnings and Britain shredded its controversial budget.
Analysts pointed to better-than-expected reports from Goldman Sachs and Johnson & Johnson as a positive driver for stocks, along with shifting investor sentiment.
On Wall Street, the Dow Jones jumped two percent at the open after a day of strong trading in Asia and Europe, before paring back gains later in the morning.
Goldman Sachs reported a third-quarter update that topped analyst expectations on strong trading revenues.
The investment bank followed on from positive earnings news from the Bank of America on Monday, days after JPMorgan Chase and others also logged solid numbers.
"Better-than-expected US earnings reports sparked a rally on Wall Street with positive momentum reverberating across European equities," Interactive Investor analyst Victoria Scholar told AFP.
"Risk appetite is picking up after a volatile week for markets, as corporate results look to be the main driver of price action today."
US industrial production also picked up more than anticipated in September, according to official data Tuesday, bouncing back after a dip in August.
Analysts remain hopeful that an upbeat third-quarter results season could give a shot in the arm to markets which have been slammed this year on fears over inflation and Federal Reserve interest rate hikes.
But Craig Erlam, senior market analyst at OANDA, warned the upbeat investor sentiment might not last, saying there was a "strong feeling of a bear market rally about trading over the course of the last week."
"From the post-US-inflation rebound to what has now been a strong start to the week -- in part driven by the UK's decision to no longer shoot itself in the foot -- nothing about this screams sustainable."
- UK turbulence -
Frankfurt stocks closed up one percent on Tuesday as a key survey showed German investor confidence climbed slightly in October, but it still held at a low level.
London gains were muted after the Bank of England poured cold water on a newspaper report that it could delay the sale of government bonds again to help maintain market stability.
A BoE spokesperson described the Financial Times story as "inaccurate".
The British pound retreated slightly after jumping Monday above $1.14 as the UK government sensationally ripped up its controversial debt-fuelled budget.
After a volatile few weeks during which the pound hit a record low, new finance minister Jeremy Hunt sought Monday to reassure investors as he scrapped tax cuts and warned of tough spending cuts.
Monday's move, which dealt a blow to Prime Minister Liz Truss's authority, sent sterling up as much as two percent at one point and the cost of government borrowing tumbled, while the FTSE 100 jumped.
"Investors continue to monitor the political and economic turbulence surrounding the UK," noted XTB analyst Walid Koudmani.
Markets in China fluctuated a day after authorities delayed the release of third-quarter economic figures, which analysts said were likely to show the weakest growth since the pandemic owing to Covid-19 lockdowns.
The decision comes as the Communist Party holds a key gathering at which President Xi Jinping is expected to be handed a third term.
Oil prices slumped Tuesday in response on the expectation that the US will draw more barrels than expected from its strategic reserves heading into the winter season.
- Key figures around 1540 GMT -
London - FTSE 100: UP 0.2 percent at 6,936.74 points
Frankfurt - DAX: UP 0.9 percent at 12,765.61
Paris - CAC 40: UP 0.4 percent at 6,067.00
EURO STOXX 50: UP 0.6 percent at 3,463.83
New York - Dow: UP 0.4 percent at 30,302.02
Tokyo - Nikkei 225: UP 1.4 percent at 27,156.14 (close)
Hong Kong - Hang Seng Index: UP 1.8 percent at 16,914.58 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,080.96 (close)
Pound/dollar: DOWN at $1.1295 from $1.1358 on Monday
Dollar/yen: UP at 149.25 yen from 149.04 yen
Euro/dollar: DOWN at $0.9826 from $0.9841
Euro/pound: UP at 86.99 pence from 86.64 pence
Brent North Sea crude: DOWN 2.73 percent at $89.12 per barrel
West Texas Intermediate: DOWN 3.45 percent at $81.58 per barrel
burs-rox/jmm
P.Schmidt--CPN