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Shares start month on a high as PMIs point to economic rebound

Stocks started September on a positive note, with global indexes close to all-time highs and Europe edging higher, pushed up by Chinese factory data that showed a rebound in demand. Factory activity in China expanded at the fastest rate in nearly a decade in August, a private PMI survey showed on Tuesday, contrasting with an official survey on Monday that showed output in the country’s factories grew slightly more slowly last month as floods hit the southwest. Both surveys pointed to improving export orders. The MSCI world equity index, which ...

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European shares rise on oil gains, French utility plays

European shares rose on Monday as heavyweight oil and gas players were supported by higher crude prices and merger talks in major French utilities saw the sector outperform regional peers. The pan-European STOXX 600 index rose 0.5%, adding to mild gains from the prior week amid some optimism over COVID-19 treatments. A British market holiday seemed likely to keep trading volumes subdued for the day. The STOXX 600 was set to add nearly 4% for August. Still, it remains way off pre-pandemic highs as middling economic data and a resurgence ...

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China stocks climb on upbeat economic data, listings momentum

The Chinese stock market climbed on Friday, with blue-chip shares clocking their best week in four, as sentiment was supported by improving economic data and a slew of new listings. ** The Shanghai Composite index closed up 1.6% at 3,403.81. The blue-chip CSI300 index jumped 2.4%. ** Stocks clung on to a momentum this week that was fuelled by upbeat data showing improving industrial profits and a surge in the start-up Chinext board. ** The CSI300 rose 2.7% this week – its best in four – and Shanghai shares up ...

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Global Markets: European shares fall, dollar edges up, investors wait for dovish Fed hints

European shares opened lower on Thursday and the dollar was slightly higher, as investors focused on the U.S. Federal Reserve Chair’s speech at the virtual Jackson Hole conference later in the session. Wall Street hit new record highs on Wednesday and the MSCI world share index also rose to its highest ever, with the endless supply of cheap cash from central banks pushing up big-cap tech companies. But the rally petered out in the Asian session, with an element of caution coming from the United States sanctioning China over military ...

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China stocks end lower after ChiNext snaps sharp two-day rally

Chinese shares closed lower on Wednesday, hurt by weakness in tech-heavy startup board ChiNext, after investors booked profits after two consecutive sessions of sharp gains. ** The blue-chip CSI300 index ended down 1.2% at 4,706.13 and the Shanghai Composite index shed 1.3% to close at 3,329.74. ** ChiNext dropped 2.1%, while the STAR50 index was down 3.1%. ** Fourteen out of 18 companies that debuted on ChiNext on Monday, as part of a historic reform that relaxed listing requirements and trading rules of Shenzhen stock bourse, posted huge losses. ** ...

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Asian stocks boosted by fresh U.S.-China trade hopes

Asian stock markets were mostly higher on Tuesday after the U.S and China indicated progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1% and was trading just below a two-year high. Japan’s Nikkei rose 1.4%, while banking stocks led Australia’s S&P/ASX 200 up 0.34%. Futures suggest a positive start to Europe’s trading day, with Euro STOXX 50 futures up 0.4% and FTSE futures up 0.3%. S&P 500 futures extended modest gains ...

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Stocks rally as investors pin hopes on coronavirus treatment

Asian shares advanced for a second straight session on Monday, underpinned by coronavirus hopes after U.S. regulators authorised the use of blood plasma from recovered patients as a treatment option. The announcement from the U.S. Food & Drug Administration of a so-called “emergency use authorisation” came on the eve of the Republican National Convention, where Donald Trump will be nominated to lead his party for four more years. E-Mini futures for the S&P500 gained 0.4%. European markets were also set for a leg higher with futures for Euro Stoxx 50 ...

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Stocks struggle higher as PMIs weigh

Global stock markets enjoyed cautious gains on Friday, taking their cue from Wall Street tech shares, but tepid economic data and lofty valuations reined in the advances in the wake of huge rally that has wiped out coronavirus losses. Global stocks advanced 0.2% while the pan-European STOXX 600 climbed 0.4% after healthy gains in Asian-Pacific bourses in the wake of U.S. tech shares closing higher on Thursday, shrugging off some somber unemployment data in the world’s top economy. European stock markets also looked beyond fresh numbers painting a muted economic ...

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Global Markets: Shares nudge up as Wall Street record outweighs jitters on growth

European stocks edged up on Wednesday as a record high for U.S. stocks outweighed simmering worries over a resurgence in coronavirus cases that could undermine a nascent recovery. The broad Euro STOXX 600 gained 0.1% in choppy trading, with indexes from Frankfurt to London making slim gains. Among the bright spots were travel and leisure shares, with British Airways owner up 3.7% on a British plan use COVID-19 testing at London’s Heathrow Airport to help shorten the number of days that travellers have to spend in quarantine. But oil and ...

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It’s no longer a “bear market rally” – BofA survey

Investors are their “most bullish” on financial markets since February, when world stocks hit a record high, a Bank of America fund manager survey showed, as hopes of a COVID-19 vaccine and a steady revival of economic activity boost confidence. A net 46% of investors surveyed by BofA said “it’s a bull market”, up from 40% the previous month. A secular bull market is one where the prevailing trend is for higher prices, with short corrections interrupting it. World stocks have bounced back by 51% from their mid-March lows, adding ...

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Equities stall on widening U.S.-China rift; dollar slides

European shares slipped on Tuesday as simmering political tensions between the United States and China escalated, while concerns over a deadlock on further U.S. fiscal stimulus drove the dollar towards a two-year low against its rivals. A weaker opening for the region’s blue-chip euro STOXX 50 weighed on Asian stocks with MSCI’s broadest index of Asia-Pacific shares outside Japan giving up early gains to trade flat. U.S. stock futures were down 0.2%, pointing to a weaker start on Wall Street and inching back slightly after tech stocks had pushed sister ...

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Europe stuck on the ground as China markets jump

Shares crept back toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would be extended and perhaps take some pressure off the dollar. Europe was warming up to the new week slowly but was steady enough to keep MSCI’s broadest index of world shares inching closer to February’s record top of 581.02. Chinese blue chips led the way with gains of 2.35%, as the country’s central bank provided more medium term loans to the financial system. ...

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World shares sink after China data misses forecasts

Global shares dipped on Friday after lacklustre Chinese economic data and worries about a delay in U.S. fiscal stimulus discouraged some investors from taking on risk. European shares were also dragged lower by a hit to travel stocks after Britain added more European countries to its quarantine list. The pan-European STOXX 600 was down 0.7%, although on track to gain for a second straight week. MSCI’s world index was 0.2% lower, drifting further from all-time highs touched in February. The index has still rallied close to 50% from March’s trough ...

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Asian markets up as investors see recovery signs, dollar retreats

Asia’s emerging currency markets crept higher on Thursday against a broadly weaker U.S. dollar, while optimism among investors over an economic recovery and U.S.-China trade talks later this week pushed stock markets higher. U.S. inflation data on Wednesday dispelled concerns about deflation in the world’s largest economy and added to signs at the start of this week that China is recovering from the coronavirus crisis faster than previously thought. Stock markets in the Philippines and Singapore led gains across the region, climbing to late-July highs, while Taiwan’s dollar rose almost ...

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Asian stocks slip as U.S. stimulus doubts mount

Hopes of vaccine development, however, prompted some investors to reduce safe-haven assets such as gold and government bonds, and to buy back battered stocks of companies hit hardest by the virus. The mixed sentiment has led to choppy trade in Asia with the index of ex-Japan Asia-Pacific shares shedding 0.76% while Japan’s Nikkei gained 0.2%. Mainland Chinese shares fell 1.7%, weighed by worries about the economic recovery after data showed a slowdown in the country’s money supply and bank lending growth. European shares are expected to open lower, with Euro ...

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