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Investors Greet Signs of Progress in European Recovery Negotiations

Investors welcomed signs of progress in the European Union’s negotiations over a landmark economic recovery plan Monday, pushing down government borrowing costs and boosting the euro to a four-month high. European Union leaders were inching closer to agreement on a likely EUR1.8 trillion ($2.06 trillion) coronavirus recovery package, comprising a multiyear budget and a recovery fund. Investors are increasingly hopeful that the talks, which diplomats said could stretch on into the evening, will result in a deal. In one sign of optimism, the gap between the yields on Italian and ...

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Investors Bet Europe’s Recovery Will Have Green Tint

Europe’s plan to kick-start its economy while shrinking its carbon footprint is throwing up new opportunities for investors. Shares in renewable-energy companies and insulation providers have advanced this year, in contrast to the plunge in oil-and-gas companies’ stocks and a retreat in the broader market. Investors are betting these firms will benefit from the European Union’s ambitious proposal to stop damaging the environment by 2050, which the bloc aims to bake into its economic recovery plan. EU leaders are meeting Monday to haggle over the bloc’s proposed EUR1.8 trillion ($2.06 ...

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China stocks jump after regulators lift equity investment cap for insurers

China stocks jumped 2.5% on Monday, led by financial firms, after regulators moved to bolster the market by lifting equity investment cap for insurers and encouraging mergers and acquisitions among brokerages and mutual fund houses. ** At the midday break, the Shanghai Composite index was up 2.62% at 3,298.50 points, while the blue-chip CSI300 index was up 2.55%. ** The start-up board ChiNext Composite index was higher by 0.47%. ** The rise followed Shanghai shares’ worst weekly drop in five months as better-than-expected GDP data in China fuelled worries over ...

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Where did all the bulls go? Rallies stall as EU summit begins

Europe’s stock markets and fast charging currencies were left treading water on Friday, as EU leaders met in Brussels to try to hammer through a 750 billion euro post-pandemic recovery fund. European and world equity markets <.MIWD00000PUS> were heading for their third weekly gain in a row, but they were the smallest yet and Friday’s go-slow involved all the main asset classes from commodities to bonds. London’s FTSE, Paris, Milan and Madrid had all sagged into the red in early trading and though the euro ticked up, Italian and Spanish ...

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China shares plunge as Sino-U.S. tensions weigh

Chinese shares slumped by the most in more than five months on Thursday as a bull run that had pushed the country’s benchmark indexes to multi-year highs reversed sharply amid renewed Sino-U.S. tensions. At the close, the Shanghai Composite index was down 4.5% at 3,210.10, and the blue-chip CSI300 index plunged 4.81%, the sharpest one-day percentage fall for both indexes since Feb. 2. Source: Reuters (Reporting by Andrew Galbraith; Editing by Alex Richardson)

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Asian shares gain in cautious mood as U.S.-China tensions rise

Asian shares rose on Wednesday led by coronavirus vaccine hopes though sentiment was cautious after Beijing vowed retaliatory sanctions against the United States, while the euro rose to a four-month high ahead of a crucial EU summit. The signal for European markets was strong with futures for eurostoxx 50 up 1.3% while those for Germany’s DAX added 1.3% and futures for London’s FTSE climbed 1%. MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.8%, not far from a recent five-month peak. Chinese shares sold off, with the ...

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Global shares retreat as coronavirus surges, Sino-U.S. tensions rise

A street cleaning operative walks past the London Stock Exchange Group building in the City of London financial district, whilst British stocks tumble as investors fear that the coronavirus outbreak could stall the global economy, in London Global stocks slipped on Tuesday, oil sagged and a safety bid supported the dollar as simmering Sino-U.S. tensions and new coronavirus restrictions in California kept a lid on investor optimism with earnings season getting underway. MSCI’s All-Country World Index edged down 0.4%, after touching a 20-week high on Monday. The pan-European STOXX 600 ...

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Shares near five-month peak as earnings season kicks off

World shares were approaching a five-month peak and the dollar slipped on Monday as investors wagered the earnings season would see most companies beat forecasts given expectations had been lowered by coronavirus lockdowns. The U.S. earnings season kicks off this week with major Wall Street banks JPMorgan, Citigroup and Wells Fargo reporting on Tuesday. It’s expected to be the second-biggest quarterly earnings drop since 1968, according to Refinitiv data. “There’s a view that the bar has been set pretty low for them to report the almost obligatory ‘better than expected’ ...

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Another record U.S. virus count curbs risk appetite

World stocks and oil prices were faltering on Friday as record-setting new coronavirus cases in several U.S. states led to worries that more lockdowns may be necessary, making a quick economic recovery unlikely. The upcoming second-quarter earnings season, expected to be the worst for Europe and the United States since the 2008/09 financial crisis, added to the woes, pushing investors to chase safe-haven assets, such as U.S. Treasuries and the yen. European stocks declined 0.3%, taking cues from Asia, where China ended its rally. Shares in China fell 1.8% from ...

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China charges on, gold reaches nine-year high

European shares were rising again after a two-day wobble on Thursday as China’s markets continued their charge, and something between fear and greed propelled gold to a nine-year high. Chinese stocks set their longest winning streak in two years and the yuan had strengthened past 7 per dollar overnight, despite rising tension over Hong Kong and the economic uncertainty caused by COVID-19. It was the Shenzhen blue-chip index’s eighth straight day of gains, adding another 1.5% to its 16% surge this month, and pushed Europe in the right direction after ...

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Global shares waver on coronavirus fears

Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. Oil prices fell on oversupply fears. Frankfurt, Paris and London all opened lower in early trading as investors shifted to wait-and- see mode before upcoming earnings and clung to the perceived safety of the U.S. dollar . [GVD/EUR][/FRX] It was a rosier picture in Asia, where Chinese stocks extended their gains to seven sessions, with the blue-chip index up ...

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China shares rally, Asian stocks take a breather

The Chinese share market extended its positive run on Tuesday, in line with the mainland government’s push for a stronger market, while the rest of the region turned cautious on equities. MSCI’s broadest index of Asia-Pacific shares outside Japan see-sawed during the local session and was down 0.2%, after it briefly traded in positive territory. The negative performance on Tuesday came after the index rose 7% which took it to a 4-1/2 month high in the past five trading sessions. Japan’s Nikkei gave up 0.7% while U.S. stock futures shed ...

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China rally triggers gains in European cyclical stocks

European shares headed towards a one-month high on Monday, with a rally in China’s markets setting an upbeat tone as investors banked on the world’s second biggest economy to lead a recovery from the coronavirus-induced slump. The pan-European STOXX 600 climbed 1.6%, as stocks exposed to China, including carmakers, industrials, energy firms and luxury goods makers, gained strongly. The German DAX, London’s FTSE 100 and France’s CAC 40 all rose about 2%. China’s blue-chip index jumped over 5%, as investors stocked up on cheap funding to invest in an economy ...

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European Stocks Waver With U.S. Markets Shut

European stocks wavered Friday, with trading volumes down as American markets remain shut for the Independence Day holiday and investors take stock of a surge in coronavirus infections in the U.S. that could impede the global economic recovery. The pan-continental Stoxx Europe 600 drifted between gains and losses. In Asia, most major equity benchmarks closed higher. U.S. stock futures also wobbled, with contracts linked to the Dow Jones Industrial Average ticking up 0.1%. The gauge for blue-chips stocks ended the week up 3.3% ahead of the Fourth of July holiday. ...

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European stocks pause as virus worries offset rebound hopes

European stocks paused on Friday after gains through the week as another record surge in U.S. coronavirus cases dulled optimism from a brisk recovery in China’s services sector. The pan-European STOXX 600 index was largely flat after opening marginally higher, with trading volumes thinned by a U.S. market holiday. Technology stocks led the gains, rising 0.7%, while banks , insurers and oil & gas fell after a strong rally in the previous session. The benchmark index was headed for a 2.8% weekly gain as hopes of a COVID-19 vaccine and ...

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