- 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
- Naomi Osaka pulls out of Japan Open with back injury
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Artist Marina Abramovic hopes first China show offers tech respite
- Asian markets track Wall St rally on US jobs data
- Pakistan 122-1 at lunch in first England Test
- Kazakhs approve plan for first nuclear power plant
- World marks anniversary of Oct. 7 attack on Israel
- 'Second family': tennis stars hunt winning formula with new coaches
- Philippines, South Korea agree to deepen maritime cooperation
- Mexico mayor murdered days after taking office
- Sardinia's sheep farmers battle bluetongue as climate warms
RBGPF | -1.97% | 58.94 | $ | |
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RELX | -0.54% | 46.04 | $ | |
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VOD | 0.31% | 9.69 | $ | |
CMSD | -0.09% | 24.79 | $ |
Stocks diverge, dollar down as Biden exits White House race
Stock markets diverged and the dollar dropped Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty.
Main equity indices in Tokyo, Shanghai and Sydney closed lower, though Hong Kong rallied thanks to healthy gains in Chinese tech firms.
Europe's major stock markets rose strongly, led by Paris and Frankfurt which each recorded gains of nearly 1.5 percent approaching the half-way mark.
Biden on Sunday gave in to weeks of calls for him to step aside in the wake of a poor debate performance that amplified questions about his health, and endorsed Vice President Kamala Harris to succeed him.
The news has left traders wondering who will go head to head with Donald Trump in the battle to lead the world's biggest economy.
Analysts said markets would likely be volatile in the near term.
"Market instinct will be to say that the news adds a degree of uncertainty to the outcome of the 5 November election that wasn't present last week," noted National Australia Bank analyst Ray Attrill.
However, "it will be many weeks... before anyone can reasonably determine if the race for the White House is significantly narrower than looked to be case".
Stocks in Asia fell Monday following losses Friday on Wall Street and in Europe, where trade was dominated by a crash in global computer systems.
A result of a faulty update to an antivirus program, the crash hit airports, airlines, trains, banks, shops and even doctors' appointments.
- Ryanair dives -
In trading Monday -- which coincided with the start of Britain's Farnborough airshow -- Ryanair's share price slumped more than 13 percent.
The Irish no-frills carrier warned that despite rising passenger demand for its routes across Europe, revenue would continue to suffer from average air fares remaining lower than expected.
"While travel demand has bounced back since the pandemic, travellers are reluctant to book too far ahead," said Dan Coatsworth, investment analyst at AJ Bell.
He cited "high interest rates" and passengers "holding out for a bargain" as likely reasons for Ryanair and rival carriers needing to lower air fares in the peak summer season.
Elsewhere Monday, there was little reaction to news that China's central bank had cut borrowing costs as leaders look to kickstart the world's number two economy, which has been hammered by a huge property crisis and weak consumer demand.
The Bank of China lowered the one-year and five-year loan prime rates in a bid to encourage commercial banks to grant more credit.
- Key figures around 1100 GMT -
London - FTSE 100: UP 0.8 percent at 8,219.24 points
Paris - CAC 40: UP 1.4 percent at 7,638.35
Frankfurt - DAX: UP 1.4 percent at 18,428.56
EURO STOXX 50: UP 1.6 percent at 4,902.21
Tokyo - Nikkei 225: DOWN 1.2 percent at 39,599.00 (close)
Hong Kong - Hang Seng Index: UP 1.3 percent at 17,635.88 (close)
Shanghai - Composite: DOWN 0.6 percent at 2,964.22 (close)
New York - Dow: DOWN 0.9 percent at 40,287.53 (close)
Euro/dollar: UP at $1.0889 from $1.0885 on Friday
Pound/dollar: UP at $1.2936 from $1.2914
Dollar/yen: DOWN at 156.80 yen from 157.47 yen
Euro/pound: DOWN at 84.16 pence at 84.27 pence
West Texas Intermediate: DOWN 0.1 percent at $80.05 per barrel
Brent North Sea Crude: DOWN 0.3 percent at $82.42 per barrel
L.Durand--AMWN