- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
- 'Unspeakable horror': the attacks on Hiroshima and Nagasaki
- Stock markets diverge before China weekend briefing
- Christian villagers 'trapped' in south Lebanon crossfire
- Sabalenka sets up Gauff showdown in Wuhan semis
- EU questions shopping app Temu over illegal products risk
- Kim Sei-young holds lead with late birdies at LPGA Shanghai
- Toulouse welcome Dupont 'boost' as Olympic star returns to Top 14
- Japanese atomic bomb survivor group Nihon Hidankyo wins Nobel Peace Prize
- Deadly Israeli strike on Beirut likely targeted Hezbollah security chief
- Bangladesh Islamist chief backs crimes against humanity trial for ex-PM
- Everest climber's remains believed found after 100 years
- 20 Pakistan coal miners shot dead in attack
- Clashes on South China Sea, Ukraine dominate Asia summit
- Han Kang's books sell out in South Korea after Nobel win
- Zelensky meets Pope, Scholz as whirlwind Europe tour ends
- Hello Hallyu: why is South Korean culture sweeping the globe?
- UK economy rebounds in August in boost to new govt
- Voice of Japan's beloved robot cat 'Doraemon' dies
- Shanghai markets sink ahead of briefing on mixed day for Asia
- Investors, analysts eye bigger China stimulus at Saturday briefing
- 20 Pakistan coal miners shot dead in attack: police
- Blinken condemns China's 'increasingly dangerous' sea moves
- Toyota returns to Formula One as Haas partner
- EU chief says China must 'adapt its behaviour' to solve trade row
- Musk unveils robotaxi, pledges it 'before 2027'
- Lynx rally, stun Liberty in overtime in WNBA Finals opener
- Pogacar hunting 'perfect' season finale with Coppi's Il Lombardia record
- 'Soul of old Baghdad': city centre sees timid revival
- Kittle at the double as Niners hold off Seahawks
- At least 11 dead in Florida but Hurricane Milton not as bad as feared
- Yankees advance in MLB playoffs as Guardians stay alive
- Asian markets mixed after Wall St drop, Shanghai dips before briefing
- Automaker Stellantis says CEO will retire in 2026
- Musk's promised robotaxi unveil delayed
- Kamada says Japan can close in on World Cup place against Australia
- On US coast, wind power foes embrace 'Save the Whales' argument
RBGPF | -1.03% | 59.49 | $ | |
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Stocks diverge; bitcoins hits fresh record high
Bitcoin struck a fresh record high Monday and stock markets diverged as traders assessed the outlook for cuts to US interest rates.
Bitcoin peaked at $72,234 before paring gains.
Global equity markets and gold prices reached all-time pinnacles last week.
Investors have poured into equities, bitcoin and gold this year in anticipation of cuts to US interest rates which has weighed on the dollar.
This despite a forecast-busting US jobs report on Friday causing traders to price in fewer reductions in borrowing costs by the Federal Reserve than previously thought.
The Tokyo and European stock markets retreated Monday after pre-weekend losses on Wall Street, though this followed record highs for global equity indices in recent sessions thanks to rate-cut hopes and strong company earnings.
All eyes will be on US inflation data Tuesday for the latest clues on the outlook for rate cuts as inflation cools.
SPI Asset Management's Stephen Innes added that "the US labour market seems to be in a comfortable zone -- not too hot and not too cold".
"Reminiscent of Goldilocks's 'just right' porridge."
Traders are now factoring in three US rate cuts this year, compared with six that were pencilled in three months ago.
On the corporate front, Telecom Italia slumped nearly 10 percent following heavy losses last week on a badly-received strategy update centred on reducing debt.
In Asia, Japanese equities were weighed by a tech sell-off after losses Friday for the sector in New York, while exporter stook a hit from a stronger yen as the Bank of Japan considers tightening monetary policy, in contrast to rivals gearing up for rate cuts.
There was little reaction to news that the Japanese economy narrowly avoided a recession in the final months of last year.
Hong Kong and Shanghai rose, however, following figures showing a bigger-than-forecast jump in Chinese consumer prices last month.
- Key figures around 1200 GMT -
London - FTSE 100: DOWN 0.5 percent at 7,621.65 points
Paris - CAC 40: DOWN 0.3 percent at 8,001.81
Frankfurt - DAX: DOWN 0.7 percent at 17,693.22
EURO STOXX 50: DOWN 0.7 percent at 4,924.42
Tokyo - Nikkei 225: DOWN 2.2 percent at 38,820.49 (close)
Hong Kong - Hang Seng Index: UP 1.4 percent at 16,587.57 (close)
Shanghai - Composite: UP 0.7 percent at 3,068.46 (close)
New York - Dow: DOWN 0.2 percent at 38,722.69 (close)
Euro/dollar: UP at $1.0943 from $1.0942 on Friday
Dollar/yen: DOWN at 146.64 yen from 147.06 yen
Pound/dollar: DOWN at $1.2850 from $1.2854
Euro/pound: UP at 85.15 pence from 85.09 pence
West Texas Intermediate: DOWN 0.6 percent at $77.52 per barrel
Brent North Sea Crude: DOWN 0.6 percent at $81.65 per barrel
burs-bcp/rfj/lth
Y.Kobayashi--AMWN