- Italy begins migrant transfers to Albania with first group of 16
- Google signs nuclear power deal with startup Kairos
- Carsley open to foreign England manager amid Guardiola links
- Pogba hungry to have his football cake after doping ban
- India and Canada expel top envoys in Sikh separatist killing row
- Mbappe says victim of 'fake news' after 'rape' report in Sweden
- Lebanon says 21 killed in strike on northern village
- Netanyahu vows no mercy after deadly Hezbollah drone strike
- Russia could be able to attack NATO by 2030: German intelligence
- EVs seek to regain sales momentum at Paris Motor Show
- Clarke backs Scotland to bounce back from 'tough' run
- Harris, Trump target crucial Pennsylvania as US vote looms
- NASA probe Europa Clipper lifts off for Jupiter's icy moon
- Lebanese Red Cross says 18 killed in strike in north
- Mendy borrowed money from Man City team-mates for legal fees
- Palestinian officials say Israeli forces kill two in West Bank
- Football leagues, unions file EU complaint against FIFA in calendar dispute
- Nigeria boycott AFCON qualifier in Libya after 'inhumane treatment'
- India to recall top envoy to Canada: foreign ministry
- Hezbollah, Israeli troops in 'violent clashes' after drone strike
- China insists won't renounce 'use of force' to take Taiwan as drills end
- Painkiller sale plan to US gives France major headache
- Italy begins landmark migrant transfers to Albania
- Russia jails French researcher for three years
- 'Unsustainable' housing crisis bedevils Spain's socialist govt
- Stocks shrug off China disappointment but oil slides
- New Zealand 4-0 up in America's Cup but British show signs of life
- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
CMSC | 0.12% | 24.739 | $ | |
RBGPF | 2.84% | 61.23 | $ | |
BCC | 0.72% | 143.4 | $ | |
CMSD | 0.12% | 24.98 | $ | |
JRI | -0.34% | 13.205 | $ | |
RIO | 0.53% | 67.585 | $ | |
SCS | 0.31% | 12.95 | $ | |
NGG | 0.98% | 66.895 | $ | |
BCE | -1.6% | 32.5 | $ | |
GSK | 0.74% | 39.121 | $ | |
RYCEF | 0.43% | 7.03 | $ | |
RELX | 1.09% | 47.345 | $ | |
BTI | 0.78% | 35.455 | $ | |
AZN | 1.03% | 78.155 | $ | |
VOD | 0.26% | 9.675 | $ | |
BP | -0.53% | 31.94 | $ |
US, European stocks end winning week on benign note
European and US stocks ended an upbeat week on a benign note Friday, pushing higher after cooling inflation reports raised hopes of an end to interest rate hikes.
Major US indices shook off early losses, finishing higher on the session and with weekly gains for the third straight week.
"Every time the market tries to sell off a little bit, more buyers show up," said Adam Sarhan of 50 Park Investments. "We are setting the stage for a strong end to the month and a strong end to the year."
The broad-based S&P 500 ended at 4,514.02, up 0.1 percent for the day and 2.2 percent for the week.
Analysts have described US investors as prone to a "fear of missing out" amid hopes a slowing US economy will avert a recession.
European markets were up in afternoon deals, with London leading gains as it closed more than one percent higher despite data showing an unexpected drop in retail sales in October.
Hong Kong closed down 2.1 percent, with shares in Chinese e-commerce titan Alibaba hammered after the company cancelled a spinoff of its cloud computing arm, citing the US-China chip war.
But crude prices rebounded after falling almost five percent on Thursday as investors look ahead to a meeting of the OPEC+ group of oil exporters.
Weaker-than-expected US inflation data this week fanned hopes that the Federal Reserve would not need to hike interest rates further.
UK inflation also slowed more than expected.
"There is increasing optimism amongst investors that interest rates are at a peak, and that inflation would continue to ease, considering energy prices are on the decline," said Richard Flax, chief investment officer at Moneyfarm.
Among individual companies, Microsoft fell 1.7 percent on news of the sudden departure of ChatGPT Chief Executive Sam Altman. Microsoft, which has been a major investor in the artificial intelligence company, praised interim chief Mira Murati.
"We have a long-term partnership with OpenAI and Microsoft remains committed to Mira and their team as we bring this next era of AI to our customers," a Microsoft spokesperson said in a statement to AFP.
Among individual companies, Gap surged more than 30 percent despite a cautious forecast as investors cheered sign of a turnaround by the retailer's newly installed CEO Richard Dickson.
- Key figures around 1645 GMT -
New York - Dow: UP less than 0.1 percent at 34,947.28 (close)
New York - S&P 500: UP 0.1 percent at 4,514.02 (close)
New York - Nasdaq Composite Index: UP 0.1 percent at 14,125.02 (close)
London - FTSE 100: UP 1.3 percent at 7,504.25 (close)
Paris - CAC 40: UP 0.9 percent at 7,233.91 (close)
Frankfurt - DAX: UP 0.8 percent at 15,919.16 (close)
EURO STOXX 50 - UP 0.9 percent at 4,340.77 (close)
Tokyo - Nikkei 225: UP 0.5 percent at 33,585.20 (close)
Hong Kong - Hang Seng Index: DOWN 2.1 percent at 17,454.19 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,054.37 (close)
Euro/dollar: UP at $1.0916 from $1.0852 on Thursday
Pound/dollar: UP at $1.2465 from $1.2414
Dollar/yen: DOWN at 149.64 yen from 150.73 yen
Euro/pound: UP at 87.55 pence from 87.41 pence
West Texas Intermediate: UP 4.1 percent at $75.89 per barrel
Brent North Sea crude: UP 4.1 percent at $80.61 per barrel
J.Williams--AMWN