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Global Stocks Slip as Trade Talks Falter

Global stocks retreated amid fading optimism around U.S.-China trade negotiations as the two countries signaled an agreement remained out of reach. On Friday, Chinese negotiators abruptly canceled a trip to farms in Montana and elsewhere. President Trump also rejected suggestions that the U.S. would accept a partial trade agreement with China, saying his administration is “looking for a complete deal.” “I think this is the case of, well, we had the promise of more talks but where do we go from here?,” said Chris Beauchamp, chief market analyst at online ...

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Strategists Play Spoilsport Just as Europe Stock Rally Heats Up

European stocks have been on a tear over the past month, signaling investor optimism returning to the market. Not so fast, say strategists. They predict losses of more than 4% in both the Stoxx Europe 600 Index and the Euro Stoxx 50 Index of the region’s biggest companies by the end of the year, according to the average response in a Bloomberg poll. European equities have rebounded strongly since mid-August as trade war tensions eased and the region’s central bank boosted stimulus, with the Stoxx 600 within reach of a ...

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Global Stocks Rise at the End of a Bumpy Week

Global stocks rose at the end of a week that saw an interest-rate cut from the Federal Reserve and dramatic swings in crude prices after an attack on production facilities in Saudi Arabia. Futures on the S&P 500 and Dow Jones Industrial Average both rose 0.2%. The Stoxx Europe 600 gained 0.4% in late-morning trade. In Asia, the Shanghai Composite and Japan’s Nikkei both rose 0.2%. Indian equities surged after New Delhi unveiled a series of measures to boost growth, including a large cut in the corporate tax rate for ...

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BAML – Equity funds suck in £15 billion amid cautious return of risk appetite

Investors pumping $19.2 billion (£15.1 billion) into equity funds in a second week of healthy inflows pointed to a nascent risk appetite, though inflows into high-yield and emerging market debt showed an unabated hunt for yield, said Bank of America Merrill Lynch. Equity fund inflows over the past two weeks now amounted to $34 billion versus redemptions of $10 billion from government bond funds, which signalled “risk-on”, BAML wrote in its weekly note published on Friday and citing EPFR flow data. U.S. equity funds attracted $20.7 billion in their 8th ...

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Shares soothed by stimulus, oil heads higher

World shares rose on Friday as stimulus measures by major central banks eased worries about growth, especially in Asian markets, while oil headed for its best week since January. China cut a key lending rate for the second straight month on Friday, becoming the third major central bank to cut interest rates in recent days, after the European Central Bank and the U.S. Federal Reserve. Equity markets have welcomed the central bank moves, although most of the cuts was already priced in and worries about a possible global slowdown still ...

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Shares inch higher after Fed cut, BOJ keeps powder dry

A positive start in Europe nudged the main world share indexes and bond yields higher on Thursday, after the U.S. Federal Reserve’s second interest rate cut of the year while Japan and others kept their limited remaining powder dry. The effects of the trade war has seen central banks around the world swing back into support mode this year, but the Fed’s central message on Wednesday was that it wasn’t expecting a major capitulation of the economy. The Bank of Japan and Switzerland’s central bank then both kept their deeply ...

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Global Stocks Pause Ahead of Fed Decision

Global stocks paused ahead of an interest-rate decision from the Federal Reserve, amid political tensions and a volatile week for oil prices. In the U.S., futures on the Dow Jones Industrial Average and S&P 500 were both down 0.1%. The contracts don’t necessarily predict movements after the opening bell. The Fed on Tuesday had to step in to address a problem in money markets. It was the first time since 2008 that the central bank had to inject cash to keep interest rates down for short-term borrowing, and it is ...

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Saudi Attack Hits More Than Oil. Here’s a Stocks Breakdown

A weekend strike on a Saudi Arabian oil facility is rippling beyond a surge in oil prices. Energy stocks are experiencing a massive rally, exchange stocks with commodities businesses are getting a boost and flagging banks exposed to energy loans are experiencing some relief. Cruise-ship operators and airlines, on the other hand, are struggling as fuel costs are set to rise. “The attack should prove disruptive as opposed to catastrophic,” Citi’s Tobias Levkovich wrote in a note, as the Saudis are already able to make up 40% of the lost ...

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Oil Jolt Reverberates Across Asset Classes, at Least for Now

Oil’s ripple effect into equities and currencies is dominating the market narrative on Monday but may be more limited than the dramatic commodity surge suggests, according to strategists. The strike, which removed about 5% of global energy supplies, sent oil prices soaring. Brent had its biggest spike in dollar terms since futures started trading in 1988 and topped $71 a barrel. President Donald Trump authorized the release of oil from the U.S. emergency oil reserves. Gold rose about 1%, while S&P 500 futures fell as much as 0.8% but had ...

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Oil-exporter currencies, safe havens rally after Saudi attacks

Currencies linked to the price of oil rose on Monday after an attack on Saudi Arabian refining facilities disrupted global oil supplies, while the Japanese yen and Swiss franc strengthened as nervous investors sought safety. Oil prices surged nearly a fifth at one point following the strikes on two plants, which knocked out more than 5% of global oil production. Yemen’s Iran-aligned Houthi group claimed responsibility, but the United States blamed Iran. The Norwegian crown surged as much as 0.7%, then settled at 8.964 crowns against the dollar, up 0.3% ...

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Global Stocks Edge Up on Stimulus, Trade Hopes

Global markets posted ticked higher Friday as investors digested news of fresh stimulus from the European Central Bank and signs that the deadlock in U.S.-China trade talks could be broken. The Stoxx Europe 600 edged up 0.1% in morning trade. The relative quiet came after a volatile day for European stocks on Thursday, when the ECB unveiled a long-awaited package of stimulus measures, including an interest-rate cut and a renewed program of bond purchases, known as quantitative easing. In Asia, Hong Kong’s Hang Seng Index rallied 1% and Japan’s Nikkei ...

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Central bank policy has left no ‘safe havens’ for investors, bond expert says

There are no traditional “safe havens” for investors anymore given the current climate for bond yields, according to Stephen Oh, the global head of credit and fixed income at PineBridge Investments. Government bond yields worldwide have endured historic lows of late, with interest rates on much of the world’s traditionally reliable sovereign debt either at or below zero. Yields move inversely to prices. This means that in some cases, investors are buying into a bond guaranteed to lose money if held to maturity. Speaking to CNBC’s “Squawk Box Europe” Wednesday, ...

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Investor Hopes for Cheaper Money in Europe Dim

A month ago, investors were betting the European Central Bank would make a splash. Now they’re not so sure. Economists broadly expect the ECB on Thursday to reduce its key deposit rate by at least 10 basis points, or a 10th of a percentage point, from the current level of minus 0.4%. But expectations for the size of the monthly bond-purchase program that might also be announced have been eroding, a move that has helped keep once free-falling bond yields in place this month. The recent volatility reflects shifting views ...

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Global Stocks Rise Ahead of ECB Decision

Global stocks climbed ahead of expected stimulus from the European Central Bank and as the White House delayed extra tariffs on Chinese imports. With trade talks due to be held in Washington next month between the U.S. and China, President Trump postponed new tariffs on $250 billion in goods that were due to take effect on Oct. 1 by two weeks, a conciliatory gesture that could point to easing tensions. Stocks were broadly higher across Asia, with the Shanghai Composite up 0.6% and Japan’s Nikkei up 0.8%. Hong Kong’s Hang ...

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Hong Kong Exchanges bids $39 billion to take over London Stock Exchange

Hong Kong Exchanges and Clearing has made an unsolicited $39 billion takeover approach for the London Stock Exchange, a proposal contingent on the LSE ditching its acquisition of data company Refinitiv. The move comes at a time of political turmoil in both Hong Kong and London and is aimed at creating a global trading power better able to compete with U.S. rivals such as ICE and CME. The LSE has long sought to bolster its presence in Asia and recently launched a link scheme with HKEX competitor Shanghai. “The board ...

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