- Oil prices extend gains on Mideast tensions, Wall Street falls
- '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
RBGPF | -1.97% | 58.94 | $ | |
JRI | -0.76% | 13.18 | $ | |
SCS | -0.15% | 12.95 | $ | |
BCC | 1.68% | 141.27 | $ | |
CMSC | -0.53% | 24.57 | $ | |
AZN | -0.78% | 76.87 | $ | |
BTI | -0.26% | 35.2 | $ | |
GSK | -0.49% | 38.63 | $ | |
NGG | -1.56% | 65.48 | $ | |
RELX | -0.54% | 46.04 | $ | |
BCE | -0.54% | 33.53 | $ | |
RIO | -0.11% | 69.62 | $ | |
RYCEF | -1.45% | 6.88 | $ | |
BP | 0.78% | 33.14 | $ | |
VOD | 0.31% | 9.69 | $ | |
CMSD | -0.09% | 24.79 | $ |
European stocks dented by China Covid fears
European equities attempted to rebound Tuesday but were dented by concern over China's latest Covid-19 outbreaks.
London rose higher but Frankfurt and Paris shed earlier gains after a mixed Asian showing, as worries grew over Beijing's efforts to contain rising infections.
Trading was lighter than normal on Wall Street owing to the upcoming Thanksgiving break.
World oil prices clawed back ground, having tumbled the previous day on forecasts of a hit to Chinese demand.
The dollar slid against main rivals ahead of minutes from the Federal Reserve's last policy meeting that saw it carry out another big hike to US interest rates.
Hopes that the central bank will begin to take its foot off the pedal were boosted earlier this month by figures showing US inflation slowed more than expected, suggesting a series of hikes were beginning to bite.
"Stocks (in Europe) are attempting to push higher after closing in the red on Monday," City Index analyst Fiona Cincotta told AFP.
"Fears of renewed mobility restrictions and tighter curbs are unnerving investors."
Traders are fearful that Chinese authorities will revert to highly restrictive Covid containment measures that have already dealt a chilling blow to the world's number two economy this year.
That could herald a new global economic downturn.
"This isn't just about China," warned Cincotta.
"Renewed crackdowns in the world's second largest economy raise the prospect of a global recession."
The OECD forecast Tuesday that world economic growth will slow sharply from 3.1 percent this year to 2.2 percent next year on high inflation.
And it warned of "serious headwinds" including rising interest rates, surging energy prices and Russia's war on Ukraine.
Global stock markets began November with a rally on easing inflation concerns and signs China was edging towards a looser approach to the disease.
However, the optimism has been given a massive jolt since the country announced its first virus deaths in six months.
Case numbers have surged across China, with residents in Beijing worried that a record number of new infections will lead to lockdown measures similar to those seen earlier in the year in Shanghai, which lasted for months.
The flare-ups came just a week after China said it would begin rolling back some of the strict Covid rules that have been in place since the pandemic started in 2020, even as the rest of the world has moved on.
- Key figures around 1140 GMT -
London - FTSE 100: UP 0.6 percent at 7,418.43 points
Paris - CAC 40: DOWN 0.2 percent at 6,620.62
Frankfurt - DAX: FLAT at 14,376.42
EURO STOXX 50: FLAT at 3,908.16
Tokyo - Nikkei 225: UP 0.6 percent at 28,115.74 (close)
Hong Kong - Hang Seng Index: DOWN 1.3 percent at 17,424.41 (close)
Shanghai - Composite: UP 0.1 percent at 3,088.94 (close)
New York - Dow: DOWN 0.1 percent at 33,700.28 (close)
Euro/dollar: UP at $1.0278 from $1.0242 on Monday
Dollar/yen: DOWN at 141.14 yen from 142.14 yen
Pound/dollar: UP at $1.1874 from $1.1823
Euro/pound: DOWN at 86.56 pence from 86.63 pence
Brent North Sea crude: UP 1.4 percent at $88.65 per barrel
West Texas Intermediate: UP 1.3 percent at $81.07 per barrel
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A.Levy--CPN