- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- Mission to probe smashed asteroid launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Europe's asteroid mission Hera launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- 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
RBGPF | -1.97% | 58.94 | $ | |
CMSC | -0.2% | 24.65 | $ | |
SCS | -0.7% | 12.88 | $ | |
BCC | 0.48% | 139.569 | $ | |
GSK | 0.06% | 38.845 | $ | |
NGG | -1.28% | 65.66 | $ | |
BCE | -0.33% | 33.6 | $ | |
RIO | -0.13% | 69.61 | $ | |
BTI | -0.02% | 35.284 | $ | |
RYCEF | -1.45% | 6.88 | $ | |
RELX | -0.6% | 46.015 | $ | |
JRI | -0.38% | 13.23 | $ | |
CMSD | -0.09% | 24.79 | $ | |
BP | 0.74% | 33.125 | $ | |
AZN | -0.36% | 77.19 | $ | |
VOD | 0.21% | 9.68 | $ |
Stocks mixed on China moves, dollar drops
European and Asian stock markets were mixed Tuesday following losses on Wall Street and as China moves to shore up its economy.
A largely positive meeting between US President Joe Biden and his Chinese counterpart Xi Jinping indicated an easing of tensions and helped sentiment.
However, there remains a lot of trepidation that central bank interest rate hikes aimed at taming inflation will eventually send economies into a recession.
The US is still expected to carry on hiking interest rates, but cooling inflation in the world's biggest economy means the Federal Reserve is set to pull back on aggressive tightening, weighing on the dollar.
Vice Fed chair Lael Brainard said that while it would probably be right to slow down the rate hikes, "we have additional work to do both on raising rates and sustaining restraint to bring inflation down".
Those comments contributed to Wall Street's three main indices falling Monday.
"European stock markets made tentative gains on Tuesday after a positive handover from Asia in spite of Wall Street snapping a two-day bounce following last week's inflation reading," noted Neil Wilson, chief market analyst at Finalto trading group.
There was more unrest in the tech sector, with Amazon preparing to lay off as many as 10,000 employees, The New York Times reported on Monday.
Asian traders were a little more upbeat, cheered by China's move to ease some of its strict Covid-19 restrictions and provide much-needed support to its beleaguered property sector.
Hong Kong rose more than four percent and Shanghai also closed in positive territory.
Optimism for a thawing in relations between Washington and Beijing was boosted after Biden and Xi's extended talks on the sidelines of the G20 summit in Indonesia.
While there remain differences on hot-potato issues such as Taiwan, the two did find common ground on the Ukraine conflict, climate and the need to avoid another Cold War.
After the talks, Chinese foreign minister Wang Yi described it as a "new starting point", adding that Beijing hoped "to stop the tumbling of bilateral ties and to stabilise the relationship".
After a painful year for markets across the planet, dealers are hopeful that there is finally light at the end of the tunnel.
"It's certainly a time to be thinking about a recovery regime unfolding for markets," said Kristina Hooper of Invesco.
"But it's going to take a little time before we know if this really is something of a turning point for inflation and the Fed can be a lot more comfortable about hastening the end of tightening," she told Bloomberg Radio.
- Key figures around 1145 GMT -
London - FTSE 100: FLAT at 7,384.31 points
Frankfurt - DAX: DOWN 0.2 percent at 14,285.17
Paris - CAC 40: UP 0.3 percent at 6,627.48
EURO STOXX 50: UP 0.2 percent at 3,893.36
Tokyo - Nikkei 225: UP 0.1 percent at 27,990.17 (close)
Hong Kong - Hang Seng Index: UP 4.1 percent at 18,343.12 (close)
Shanghai - Composite: UP 1.6 percent at 3,134.08 (close)
New York - Dow: DOWN 0.6 percent at 33,536.70 (close)
Euro/dollar: UP at $1.0415 from $1.0331 on Monday
Pound/dollar: UP at $1.1870 from $1.1751
Dollar/yen: DOWN at 139.25 yen from 139.90 yen
Euro/pound: DOWN at 87.73 pence from 87.89 pence
West Texas Intermediate: DOWN 0.6 percent at $85.32 per barrel
Brent North Sea crude: DOWN 0.4 percent at $92.80 per barrel
X.Cheung--CPN