- TD Bank to pay more than $3 bn to US in money-laundering case
- SAfrica prosecutors drop criminal complaint against president
- 'Good opportunity': Nagelsmann upbeat despite Germany's long injury list
- Hurricane whips up bitter US election battle
- Cameroon bans media talk of president's health amid rumours
- NFL MVP Jackson and rookie phenom Daniels set for showdown
- Chad's capital under threat as floodwaters rise
- Lebanon state media says Israeli strikes hit central Beirut
- No answers on strike on reporters in Lebanon one year on: watchdog
- Ramharack picks four wickets as Windies beat Bangladesh in Women's T20 World Cup
- France's City of Light switches to climate-resilient power cables
- Djokovic hails Nadal 'legacy' as Alcaraz in 'shock' over retirement
- Obama hits campaign trail for Harris
- Delta eyes Election Day travel pullback as profits climb
- Djokovic tells Nadal: 'Your legacy will live forever'
- Ethel Kennedy, wife of RFK, dead at 96
- Zelensky denies ceasefire with Russia under discussion on trip
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- After long fight for glory, Nadal leaves with a legacy of memories
- Home hopes Zheng and Wang through to last-eight in Wuhan Open
- UN peacekeepers say Israel fired on Lebanon HQ, injuring 2
- UK's William and Kate in first joint public engagement since cancer treatment
- Alcaraz out as top players pay tribute to Nadal at Shanghai Masters
- Racing's Farrell 'not thinking' about British and Irish Lions
- Alcaraz, Sinner pay tribute to 'unbelievable' Nadal at Shanghai Masters
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- After K-pop, K-novels? South Korean Nobel win sparks joy, hope at home
- After Nadal exit, Djokovic left to rage against dying of the light
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Triple centurion Brook happy to break Dad's club record
- Zelensky touts 'victory plan' against Russia in Macron talks
- Musk finally unveiling his long-promised robotaxi
- UN peacekeepers accuses Israel of firing on Lebanon HQ
- London's Frieze art fair goes potty for ceramics
- Southgate taking year out from coaching
- US, Europe stocks fall on US inflation data
- Zelensky meets Macron in Paris as part of European tour
- Hurricane Milton shreds Florida stadium roof
- UN probe accuses Israel of seeking to 'destroy' Gaza healthcare
- US consumer inflation eases to 2.4% in September
- England in sight of victory after Brook's triple hundred
- Juventus readmitted to ECA after failed Super League revolt
- World number 2 Alcaraz knocked out of Shanghai Masters by Machac
- Leaders of Egypt, Eritrea, Somalia meet amid regional tensions
- Klopp's Red Bull decision 'ruined life's work' say Dortmund fans
- Han Kang wins South Korea's first literature Nobel
- S. Korea's Nobel winner Han Kang a modest, thought-provoking writer
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- The almost impossible job: Beating Rafael Nadal at the French Open
- New French government faces key test with budget plan
RBGPF | 4.03% | 63.35 | $ | |
CMSD | 0.08% | 24.7 | $ | |
CMSC | 0.12% | 24.55 | $ | |
BCC | -2.63% | 138.745 | $ | |
SCS | -3.74% | 12.56 | $ | |
NGG | 0.38% | 65.88 | $ | |
BCE | -1.63% | 32.775 | $ | |
JRI | -0.11% | 13.205 | $ | |
RELX | -0.71% | 46.38 | $ | |
RYCEF | 0% | 6.9 | $ | |
VOD | -0.26% | 9.705 | $ | |
RIO | 0.75% | 66.85 | $ | |
AZN | -0.87% | 76.84 | $ | |
BP | 1.17% | 32.36 | $ | |
BTI | -0.75% | 35.215 | $ | |
GSK | -2.93% | 39.095 | $ |
Asia, Europe stocks chase Wall Street higher
Asian and European equities rallied Friday on clarity over rising US interest rates, while the euro hit a one-month dollar low before France's presidential election.
Equities rose after a tough week dominated by the US Federal Reserve's hawkish tone in minutes from its March monetary policy gathering.
The euro sank to $1.0848 before of Sunday's French presidential runoff vote, with the unit dented also by European officials' reticence to move as aggressively as the Fed on tackling soaring inflation.
Oil prices steadied as traders mulled the recent release of nations' strategic reserves to combat recent Ukraine-driven turmoil over Russian crude supplies.
- Strong US finish -
Equity investors took their cue "from a strong finish to a turbulent trading session on Wall Street overnight", said AJ Bell investment director Russ Mould.
"Commodities firms and financial stocks, the latter boosted by expectations of faster rate hikes, helped lead the charge higher."
Commodity prices have been boosted in recent weeks because Ukraine and Russia are key producers of raw materials.
Financial firms were given a shot in the arm on Friday as investors became more willing to take risks.
"The fortunes of financial stocks have been closely aligned with risk appetite over the last couple of months and we're continuing to see that now," said OANDA analyst Craig Erlam.
"If the economy can weather the storm, they could be in a strong position given how higher interest rates are generally beneficial for them."
The Fed has made clear it intends to act more decisively to rein in 40-year-high inflation by ramping up borrowing costs and offloading bond holdings.
Wall Street recovered from steep intraday losses to end on a positive note Thursday.
Markets have come under huge pressure this year as the end of ultra-cheap central bank cash, a Covid-fuelled slowdown in China's economic activity, the war in Ukraine and soaring inflation come together in a perfect storm.
However, so far this year the London FTSE 100 index has won more than three percent in value, boosted by heavyweight commodity and oil companies whose share prices have benefitted from soaring prices of raw materials.
In contrast, Frankfurt's DAX has shed in excess of 10 percent and the Paris CAC 40 has lost eight percent, hit also by energy security concerns as a result of EU nations' reliance on gas supplies from sanctions-hit Russia.
- Key figures around 1130 GMT -
London - FTSE 100: UP 1.0 percent at 7,628.52 points
Frankfurt - DAX: UP 1.4 percent at 14,276.24
Paris - CAC 40: UP 1.5 percent at 6,555.41
EURO STOXX 50: UP 1.5 percent at 3,859.29
Tokyo - Nikkei 225: UP 0.4 percent at 26,985.80 (close)
Hong Kong - Hang Seng Index: UP 0.3 percent at 21,872.01 (close)
Shanghai - Composite: UP 0.5 percent at 3,251.85 (close)
New York - Dow: UP 0.3 percent at 34,583.57 (close)
Euro/dollar: DOWN at $1.0868 from $1.0879 late Thursday
Pound/dollar: DOWN at $1.3030 from $1.3075
Euro/pound: UP at 83.40 pence from 83.20 pence
Dollar/yen: UP at 124.18 yen from 123.95 yen
Brent North Sea crude: DOWN 0.1 percent at $100.49 per barrel
West Texas Intermediate: UP 0.1 percent at $96.08 per barrel
burs-rfj/bcp/lth
L.Davis--AMWN