- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Australia moves to expand Antarctic marine park
- Tragedy of Madrid street sweeper highlights how heatwaves kill
- Survivors wait for aid as Trump's lies help cloud Helene response
- Fleeing Israeli bombs, Lebanon's displaced met with suspicion
- Jila Mossaed, from refugee poet to Swedish Academy
- Will Tesla's robotaxi reveal live up to hype?
- Drugs, people smuggling at heart of Mexico's raging violence
- 'Invisibility' and quantum computing tipped for physics Nobel
- Musk says he is 'all in' on Trump in US election
- Category 5 Hurricane Milton roars towards storm-battered Florida
- Carpenter bomb stuns Guardians as Tigers level series
- Harris, Trump and Biden mark Oct. 7 attacks as US election looms
- Oil prices extend gains on Mideast tensions, Wall Street falls
- US judge orders Google to open Android to rival app stores
- On attacks anniversary, Israel fights 'sacred' multi-front war
- Nobel scientist uncovered tiny genetic switches with big potential
- Grammy-winning Cissy Houston, mother of Whitney, dies at 91
- UN biodiversity summit in Colombia aims to turn words into action
- Georgia Supreme Court reinstates six-week abortion ban
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- On attacks anniversary, Israel fights multi-front war
- Mexican mayor murdered days after taking office
- Intensifying to Category 5, Hurricane Milton targets Florida
- Mission to probe smashed asteroid launches despite hurricane
- Biden, Harris mark Oct. 7 with call for Mideast peace
- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
- Europe's asteroid mission Hera launches despite hurricane
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- Ex-Dutch football star Johan Neeskens dies
- Man Utd battling to improve fortunes, says Evans
- What is microRNA? Nobel-winning discovery explained
- Masood, Abdullah centuries lift Pakistan to 328-4 in first England Test
- Hurricane Milton strengthens fast, threatens Mexico, Florida
- Tunisia's President Saied set for landslide election win
- Barca hoping to return to Camp Nou 'by end of year'
- Trump to open second golf course at Scotland resort in summer 2025
- Super-sub Jhon Duran rewarded with new Aston Villa deal
- US duo win Nobel for gene regulation breakthrough
- Masood hits first ton for four years to power Pakistan to 233-1
- Fritz wins delayed match to reach Shanghai Masters third round
RBGPF | -1.97% | 58.94 | $ | |
BCC | 1.68% | 141.27 | $ | |
JRI | -0.76% | 13.18 | $ | |
CMSD | -0.09% | 24.79 | $ | |
CMSC | -0.53% | 24.57 | $ | |
GSK | -0.49% | 38.63 | $ | |
AZN | -0.78% | 76.87 | $ | |
SCS | -0.15% | 12.95 | $ | |
RELX | -0.54% | 46.04 | $ | |
RIO | -0.11% | 69.62 | $ | |
NGG | -1.56% | 65.48 | $ | |
RYCEF | -1.45% | 6.88 | $ | |
BCE | -0.54% | 33.53 | $ | |
BTI | -0.26% | 35.2 | $ | |
VOD | 0.31% | 9.69 | $ | |
BP | 0.78% | 33.14 | $ |
Oil extends rally on Russia sanctions bets, stocks wobble
Oil prices extended gains Tuesday on the prospect of further sanctions on Russia for alleged "atrocities" in some occupied Ukraine cities, while equities struggled to build on a rally in New York and Europe.
European Union officials were discussing new measures against Moscow after reports -- denied by the Kremlin -- that troops had executed civilians.
Among the punishments could be a ban on imports of Russian crude, following a similar move by the United States and Britain.
White House National Security Advisor Jake Sullivan also signalled more US sanctions were on the way this week.
While Europe's economy relies heavily on energy from Russia, the possibility of an embargo sent both main contracts sharply higher Monday, and they continued their rise in Asia, putting on more than one percent.
That pared some of the sharp losses seen Friday in reaction to a pledge by Washington and other major economies to unleash millions of barrels from their stockpiles to keep a lid on prices, which are fanning already high inflation.
It also offset an expected hit to demand in China from lockdowns in parts of the country -- including Shanghai, the biggest city -- sparked by a wave of Omicron outbreaks.
The continued uncertainty caused by the war in Ukraine, and the blow to the global economy it is expected to deal, was unable to prevent another healthy performance on Wall Street, where the Nasdaq's surge led all three main indexes higher.
"Despite all the concerns, equities remain the best bet to achieve returns above today's elevated inflation," said markets strategist Louis Navellier.
However, trade was tepid in Asia, with Hong Kong, Shanghai and Taipei closed for holidays.
Tokyo, Sydney, Singapore, Jakarta and Wellington were slightly up, while Seoul and Manila dropped.
Traders will be keeping a close eye on the release this week of minutes from the Federal Reserve's most recent policy meeting, hoping for an insight into officials' thinking over monetary policy.
After last month's expected 0.25 percentage point interest rate hike, there are increasing bets on a half-point lift in May in light of soaring inflation and strong jobs data that suggest the economy remains robust enough to absorb higher borrowing costs.
And National Australia Bank's Tapas Strickland added: "Profit reporting season in the US kicks off next week and it will be interesting to see how firms are interpreting the tea leaves, and whether earnings guidance is revised down."
- Key figures around 0200 GMT -
Tokyo - Nikkei 225: UP 0.1 percent at 27,756.54
Hong Kong - Hang Seng Index: Closed for a holiday
Shanghai - Composite: Closed for a holiday
Brent North Sea crude: UP 1.7 percent at $109.31 per barrel
West Texas Intermediate: UP 1.7 percent at $105.00 per barrel
Euro/dollar: DOWN at $1.0969 from $1.0978 late Monday
Pound/dollar: UP at $1.3117 from $1.3114
Euro/pound: DOWN at 83.62 pence from 83.65 pence
Dollar/yen: DOWN at 122.60 yen from 122.78 yen
New York - Dow: UP 0.3 percent at 34,921.88 (close)
London - FTSE 100: UP 0.3 percent at 7,558.92 (close)
O.Norris--AMWN