- 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 | $ | |
NGG | 0.39% | 67.15 | $ | |
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 slide, oil prices surge
Stock markets slid Friday, having made strong gains earlier in the week, while oil prices surged on worries the Israel-Hamas conflict could impact supplies in the crude-rich Middle East.
European gas prices reached the highest levels since February.
Energi Danmark analysts said a recent pipeline sabotage in the Baltic Sea added to "geopolitical uncertainty" in the wake of the Israel-Hamas conflict.
Helsinki believes last weekend's leak in the Finland-Estonia gas pipeline was caused by "external" activity, sparking suspicions of Russian involvement.
Higher energy prices are adding to concerns over elevated inflation after a forecast-topping US consumer-prices report revived fears the Federal Reserve would hike interest rates again before the end of the year.
"With gas prices rising and oil starting to bubble higher again... there is the potential for further inflationary pressure to complicate the decision-making of central banks," noted AJ Bell investment director Russ Mould.
Stock markets had enjoyed a fruitful few days since last week's US jobs report suggested the world's top economy remained resilient but was not too strong to warrant more central bank tightening to tame prices.
However, the mood darkened Thursday on data showing the US consumer prices index rose slightly more than expected in September, highlighting the tough work still to do in the battle against inflation.
"At the moment we appear to be in no-man's land when it comes to the prospect of further rate hikes with a still resilient US economy, and rate policy that is struggling to return inflation to target," said CMC Markets analyst Michael Hewson.
In Asia on Friday, the Hong Kong stock market tumbled more than two percent, dragged by hefty selling in the tech sector, having enjoyed a strong run this week on hopes for more government support for the economy and struggling mainland markets.
There was little reaction to data showing a slight improvement in Chinese exports and imports, while inflation came in flat for September.
Currency traders were keeping a close eye on the yen as the dollar pushed towards 150 after the US inflation reading, with Japanese officials warning they were watching for any extreme moves and primed for intervention.
Analysts said traders were worried about selling the yen too far in case Tokyo did step in to support the unit.
"Close attention is being paid to the 150 level," Yuta Suzuki, of MUFG Bank, said. "Investors probably don't want to buy dollar-yen above 150 primarily because of concerns about intervention."
- Key figures around 1100 GMT -
London - FTSE 100: DOWN 0.4 percent at 7,613.22 points
Frankfurt - DAX: DOWN 0.8 percent at 15,298.89
Paris - CAC 40: DOWN 0.8 percent at 7,047.46
EURO STOXX 50: DOWN 0.8 percent at 4,164.26
Tokyo - Nikkei 225: DOWN 0.6 percent at 32,315.99 (close)
Hong Kong - Hang Seng Index: DOWN 2.3 percent at 17,813.45 (close)
Shanghai - Composite: DOWN 0.6 percent at 3,088.10 (close)
New York - Dow: DOWN 0.5 percent at 33,631.14 (close)
Brent North Sea crude: UP 3.6 percent at $89.13 per barrel
West Texas Intermediate: UP 3.7 percent at $85.99 per barrel
Dollar/yen: DOWN at 149.58 yen from 149.79 yen on Thursday
Euro/dollar: DOWN at $1.0516 from $1.0534
Pound/dollar: DOWN at $1.2166 from $1.2177
Euro/pound: DOWN at 86.47 pence from 86.48 pence
burs/bcp/lcm
A.Malone--AMWN