- North Korea blows up roads, rails to South
- Thomas Tuchel set to be unveiled as new England manager - reports
- Russia working to undermine Moldova vote: US
- Trump says 'obnoxious' tariffs will bring factories to US
- Russia, China step up cybercriminal recruitment, warns Microsoft
- Kylian Mbappe 'shocked' to see name linked to Swedish rape investigation - lawyer to AFP
- Giant pandas flown to US from China aboard 'Panda Express'
- Sri Lanka level T20 series with record-breaking West Indies win
- French footballer Ben Yedder on trial for sexual assault
- India foreign minister in arch-rival Pakistan for rare visit
- Restored 'Apollo Belvedere' marble back on show in the Vatican
- Lagos festival dances to Nigerian icon Fela Kuti's beat
- Italian PM hails 'courageous' Albania migrant deal
- 'Tragedy in Jabalia' as Israel army tightens siege in north Gaza
- Draft UN climate pact leaves open thorny question of money
- Two giant pandas arrive in US from China aboard 'Panda Express'
- Musiala and Upamecano return to Bayern training
- Wirtz return 'unclear' after injury on Germany duty
- Ghulam says 'wait is over' after century on Pakistan debut
- Boeing to raise up to $25 bn as strike weighs on finances
- Two giant pandas arrive in US from China
- Japan hold Australia, S. Korea and China win in World Cup qualifying
- Mbappe's golden-boy image takes a hit amid negative headlines
- Hezbollah threatens to attack targets across Israel
- Oil prices fall on easing Middle East fears
- Wales lock Jenkins to miss November Tests with 'horrible' injury lay-off
- France to play Israel in Paris and allow fans in
- Twin panda cubs to make public debut at Berlin zoo
- Scotland's Kinghorn maintains Lions 'dream' despite Toulouse clash
- Pakistan debutant Ghulam hits century to defy England in second Test
- Boeing announces intention to raise up to $25 bn
- Tuchel 'in talks with FA' over England manager's job
- Dutch rider Lavreysen targets record at world track championships
- Bangladesh suspend Hathurusingha as coach after alleged assault
- Russian Olympic chief announces surprise resignation
- Ferguson to leave Man Utd ambassador role as club cuts costs
- Turkish govt defends tax plan to fund defence industry
- Oil prices tumble on easing Middle East fears
- Eidevall quits as Arsenal Women head coach
- US, Philippines launch war games after China's Taiwan drills, ship collision
- Swedish prosecutor confirms 'rape' probe without naming Mbappe
- England dismiss Ayub but Pakistan reach 173-3 at tea in second Test
- Israel vows to put 'national interest' first in response to Iran attack
- Oil prices hit by easing Middle East fears, most Asian markets rise
- Mbappe-PSG salary row faces hearing as France captain cited in 'rape' report
- K-pop star tells South Korea lawmakers of workplace bullying
- Ex-Wallabies captain Elsom denies wrongdoing after arrest warrant
- Pakistan 79-2 at lunch in second England Test after Leach strikes
- Hopes pinned on peace across Taiwan Strait after drills
- Valencia fans leave Singapore with 'stern warning' after protest
CMSC | 0.92% | 24.92 | $ | |
SCS | 0.95% | 13.105 | $ | |
CMSD | 0.83% | 25.189 | $ | |
BCE | 2.66% | 33.45 | $ | |
RIO | -1.42% | 66.755 | $ | |
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BCC | 0.89% | 144.27 | $ | |
GSK | -0.28% | 39.02 | $ | |
BTI | -0.13% | 35.405 | $ | |
RYCEF | 0.28% | 7.05 | $ | |
RBGPF | 1.67% | 60.5 | $ | |
JRI | -0.37% | 13.0389 | $ | |
VOD | -0.21% | 9.66 | $ | |
BP | -3.86% | 30.802 | $ | |
RELX | 1.73% | 48.215 | $ | |
AZN | -0.31% | 77.86 | $ |
Stock markets stall, oil prices pare back gains
Stock markets stalled and oil prices limited gains Thursday while tracking the Israel-Hamas conflict, amid latest data showing US consumer inflation data holding steady in September.
The International Energy Agency said the risk of oil supply disruptions was limited, but added it stood ready to intervene in markets if necessary.
London bucked the red trend, adding 0.3 percent on the back of solid gains for energy giants BP and Shell, but on Wall Street the Dow gave up 0.2 percent two hours into trading and Frankfurt and Paris both closed off by a similar margin.
Oil prices meanwhile pared back earlier gains of some two percent as the US consumer inflation data came in a pip above expectations at 3.7 percent for the 12 months to end September as prices remained stubbornly sticky.
There has been plenty of optimism on equity trading floors in recent days after a US jobs report was neither too hot nor too weak, while a string of central bank decision-makers have suggested they backed a pause in any more monetary tightening.
In the latest remarks, Boston Fed chief Susan Collins said the policy board was being more patient now that rates were at or close to their peak, while Atlanta boss Raphael Bostic said that unless prices surged again, officials did not need to keep hiking.
While the producer price index came in well above estimates Wednesday, analysts said that was seen more as a blip in a generally disinflationary environment.
SPI Asset Management's Stephen Innes suggested "the future direction of events really depends on how economic indicators play out.
"Unless inflation unlikely trends higher or resurgent signs of a demand-supply imbalance in the labour market lead to a wage-price spiral, we think the Fed will continue to tap a less hawkish beat."
Fawad Razaqzada at StoneX said he doubted that "today’s CPI will move the needle in as far as November is concerned, meaning the Fed is likely to remain on pause" regarding rates.
Minutes from the Fed's most recent policy meeting showed they would keep interest rates elevated "for some time" until inflation has been brought to heel and the latest data underlined as much.
Edward Moya at OANDA, looking at the oil outlook, noted the current "geopolitical risks (which) raise the chances that supply/demand flows could see disruptions," leaving crude prices supported through to year end.
- China boost -
Earlier in Asia, the mood was enhanced by news that China's massive sovereign wealth fund had bought stakes in the country's biggest banks, fuelling speculation it could broaden its reach to support beleaguered mainland markets.
Hong Kong and Shanghai equity indices rallied on news that China's Central Huijin Investment -- an arm of the $1.4 trillion China Investment Corp -- had bought $65 million of shares in the country's banking giants.
Analysts said the purchase of stakes in Bank of China, Agricultural Bank of China, China Construction Bank, and Industrial and Commercial Bank of China was aimed at boosting sentiment in mainland markets, which have been hit by worries over the stuttering economy.
- Key figures around 1545 GMT -
New York - Dow: DOWN 0.2 percent at 33,740.43 points
London - FTSE 100: UP 0.3 percent at 7,644.78 points (close)
Frankfurt - DAX: DOWN 0.2 percent at 15,425.03 (close)
Paris - CAC 40: DOWN 0.4 percent at 7,104.53 (close)
EURO STOXX 50: FLAT at 4,200.37
Tokyo - Nikkei 225: UP 1.8 percent at 32,949.66 (close)
Hong Kong - Hang Seng Index: UP 1.9 percent at 18,238.21 (close)
Shanghai - Composite: UP 0.9 percent at 3,107.90 (close)
Euro/dollar: DOWN at $1.0619 from $1.0621 on Wednesday
Pound/dollar: DOWN at $1.2247 from $1.2314
Dollar/yen: UP at 149.70 yen from 149.18 yen
Euro/pound: UP at 86.40 pence from 86.23 pence
Brent North Sea crude: UP 0.5 percent at $86.18 per barrel
West Texas Intermediate: UP 0.2 percent at $83.36 per barrel
J.Oliveira--AMWN