- 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 | $ | |
RYCEF | 0.58% | 6.92 | $ | |
CMSC | -0.14% | 24.555 | $ | |
NGG | 0.88% | 66.265 | $ | |
BTI | -0.04% | 35.095 | $ | |
RIO | 0.55% | 67.21 | $ | |
GSK | -1.03% | 38.811 | $ | |
AZN | 0.25% | 77.06 | $ | |
SCS | 2.48% | 12.92 | $ | |
CMSD | -0.28% | 24.7 | $ | |
RELX | 1.51% | 47.07 | $ | |
VOD | -0.78% | 9.665 | $ | |
BCC | 1.95% | 141.71 | $ | |
JRI | 0.08% | 13.23 | $ | |
BCE | 0.27% | 32.95 | $ | |
BP | -0.48% | 32.185 | $ |
Stocks slip as bitcoin hits fresh record high
Bitcoin rose struck a fresh record high Monday but stock markets mostly fell as traders awaited more signals on the outlook for US interest rates.
Bitcoin peaked at $72,385 Monday as the world's most popular cryptocurrency won further support on greater trading accessibility and dollar weakness.
Gold was at $2,188.30 an ounce Monday, holding near its record high of $2,195 it hit Friday.
"Years of persistent inflation and the depreciation of fiat currencies have heightened interest in gold and bitcoin, viewed by many as the ultimate store of value and a reliable hedge against inflation," said Fawad Razaqzada, analyst at FOREX.com.
Bitcoin has also been boosted by moves by US authorities and now regulators in Britain to allow exchange-traded funds for bitcoin, which opens up the cryptocurrency to news classes of investors.
"The launch of BTC Spot ETFs has transformed the market structure, providing institutions with convenient, secure, and regulated entry points into the digital assets market," said Matteo Greco, analyst at Fineqia International. "Major financial institutions are now actively involved in holding and trading BTC."
Meanwhile, all the main US equity indexes were lower in midday trading, while European stocks finished mostly lower.
Equities on both sides of the Atlantic have risen sharply since the start of the year, but the rally stalled last week as investors looked for further clues about when interest rates may be cut, and as they digest the recent sharp run-ups in a handful of tech stocks.
"As we start the week, it seems like a reality check is beginning to take hold," said Stephen Innes, managing partner at SPI Asset Management.
Last week's report on US nonfarm payrolls failed to settle the debate on when the Fed will feel comfortable enough with the inflation outlook to start easing interest rates.
The next major US statistics release will be consumer prices on Tuesday, followed by retail sales on Thursday.
"Friday’s Non-Farm Payroll release was ‘Goldilocks’ when revisions were taken into account –- not too hot, not too cold," said David Morrison, senior market analyst at FCA.
"Much depends on any change in sentiment we may see after we get the latest US inflation updates tomorrow and Thursday."
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, shares in Telecom Italia slumped nearly 10 percent following heavy losses last week on a badly-received strategy update centred on reducing debt. They ended the day down 4.6 percent while the overall Milan market was down 0.3 percent
In Asia, Japanese equities were weighed down by a tech sell-off after losses Friday for the sector in New York, while exporters took 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 1630 GMT -
New York - Dow: DOWN 0.1 percent at 38,676.17 points
New York - S&P 500: DOWN 0.2 percent at 5,112.66
New York - Nasdaq Composite: DOWN 0.2 percent at 16,047.82
London - FTSE 100: UP 0.1 percent at 7,669.23 (close)
Paris - CAC 40: DOWN 0.1 percent at 8,019.73 (close)
Frankfurt - DAX: DOWN 0.4 percent at 17,746.27 (close)
EURO STOXX 50: DOWN 0.6 percent at 4,930.42 (close)
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)
Euro/dollar: DOWN at $1.0929 from $1.0942 on Friday
Dollar/yen: DOWN at 146.82 yen from 147.06 yen
Pound/dollar: DOWN at $1.2812 from $1.2854
Euro/pound: UP at 85.30 pence from 85.09 pence
West Texas Intermediate: UP 0.4 percent at $78.31 per barrel
Brent North Sea Crude: UP 0.6 percent at $82.56 per barrel
burs-rl/gv
P.Costa--AMWN