- New study reinforces theory Covid emerged at Chinese market
- World Bank boosts climate financing by 10 percent
- Bagnaia eyeing summit on home ground in 100th MotoGP
- 'Something was wrong', defendant in French mass rape tells court
- Hezbollah chief admits 'unprecedented' blow in device blasts
- Sales of US existing homes slip slightly in August
- Fear, panic haunt Lebanese after devices explode
- Labuschagne sparks Australia fightback in England ODI opener
- S.Africa's HIV research power couple says fight goes on
- Why is Israel focusing on border with Lebanon?
- Mpox vaccines administered in Rwanda, first in Africa
- US Fed rate cut is 'very positive sign' for economy: Yellen
- Unknown Mozart string trio discovered in Germany
- 'Are we five-year-olds?' F1 drivers won't mind their language
- Brazil judge orders X to reimpose block or face hefty fine
- Munich to rename stadium street after Beckenbauer
- Champions Italy to face Argentina in Davis Cup Final 8
- The winding, fitful path to weight loss drug Ozempic
- Italians defeat American Magic to reach Louis Vuitton Cup final
- Norris has 'nothing to lose' as he hunts Verstappen in Singapore
- Kyiv 'outraged' at Swiss showing of Russian war film
- French city renames Abbe Pierre square after abuse claims
- Footballer charged after huge cannabis seizure at UK airport
- Vatican recognises Medjugorje shrine, but not Virgin's messages
- Israel bombs Hezbollah strongholds in Lebanon after wave of deadly blasts
- Bank of England freezes rate after jumbo US cut
- Playing Nadal is 'kind of a nightmare', says Alcaraz
- Portugal tackles last of deadly northern forest fires
- Ton-up Ashwin lifts India to 339-6 against Bangladesh
- Departing NATO chief warns US against 'isolationism'
- Coming winter 'sternest test yet' for Ukraine energy grid
- Evacuations as tail of Storm Boris floods northeast Italy
- Lebanon's Hezbollah reeling after second wave of deadly blasts
- Taiwan recognises same-sex marriages between Chinese, Taiwanese
- Stock markets rally after jumbo US rate cut
- Gabon's ousted leader Bongo says renouncing politics for good
- Lebanon device blasts: what we know about deadly attacks
- Equity markets rally after jumbo US rate cut
- Late Harrods owner Al-Fayed accused of rape: BBC
- Hong Kong man sentenced 14 months for wearing 'seditious' T-shirt
- Lebanon's Hezbollah in disarray after second wave of deadly blasts
- Equity markets, yen rally after jumbo US rate cut
- Meta and Spotify blast EU decisions on AI
- Hasan takes three as Bangladesh rattle India in first Test
- Two killed during police operation in New Caledonia
- Flood-hit region leaders to meet in Poland to discuss EU aid
- Sri Lanka to vote in first poll since economic collapse
- Hong Kong probe finds Cathay Airbus defect could cause 'extensive' damage
- AI development cannot be left to market whim, UN experts warn
- All Blacks primed for 'hell' of a Wallabies clash
RBGPF | 5.79% | 60.5 | $ | |
RYCEF | 5.48% | 6.93 | $ | |
CMSC | -0.14% | 25.02 | $ | |
AZN | 0.86% | 79.265 | $ | |
GSK | -1.05% | 41.99 | $ | |
NGG | -1.77% | 68.83 | $ | |
RIO | 3.53% | 65.215 | $ | |
BTI | -0.68% | 37.625 | $ | |
SCS | -7.1% | 13.175 | $ | |
CMSD | 0.1% | 25.005 | $ | |
BCC | 3.96% | 142.71 | $ | |
RELX | 1.48% | 48.08 | $ | |
BCE | -0.55% | 35.415 | $ | |
VOD | -1.64% | 10.065 | $ | |
JRI | -0.07% | 13.43 | $ | |
BP | 1.8% | 33.025 | $ |
European stocks mostly fall after Wall Street losses
European stock markets mainly fell Thursday with sentiment jarred by sliding shares on Wall Street, which was rocked by surging global inflation and the prospect of rising interest rates.
New York's Nasdaq on Wednesday fell into a correction -- a decline of greater than 10 percent from its most recent peak -- as tech giants are more susceptible to higher borrowing costs.
On Thursday, London slid 0.1 percent with shares in drugmaker GlaxoSmithKline falling 1.0 percent after consumer goods giant Unilever said it would not lift its £50-billion bid for the consumer health care unit owned by GSK and Pfizer.
Unilever shares rose on the news.
Paris equities also dropped 0.1 percent but Frankfurt grinded 0.1 percent higher in early afternoon eurozone deals.
Oil prices paused after a strong run-up this week on the back of expectations for improved demand as economies reopen and as unrest in the crude-rich Middle East sparks supply concerns.
"In Europe, the main bourses turned broadly lower after more selling in the United States, whilst Asian markets snapped a week's run of losses as China cut benchmark mortgage rates," said Markets.com analyst Neil Wilson.
Asian indices rose as investors returned to buying after recent losses, with Chinese property firms enjoying a much-needed lift on fresh easing measures by the country's central bank.
Signs that Beijing was on a new monetary easing course also provided some crucial support to Chinese tech giants which have been hammered in recent months as they were caught in the clutches of a wide-ranging, private-sector clampdown.
The People's Bank of China on Thursday lowered a key bank lending rate for the second time in as many months, days after slashing its policy rate for the first time since the pandemic struck.
However, investors remain grounded by concerns about the US Federal Reserve's monetary policy plans as it battles soaring inflation, which has been stoked by a cocktail of surging demand, supply chain snarls, rising wages and a spike in energy prices.
Speculation is now growing that the bank will have to lift interest rates four times or more this year.
Some analysts are tipping a 50 basis-point hike in March, the first such move since 2000, while the bank has also said it plans to offload the bond holdings on its books that have helped keep costs down.
The inevitable end of the era of ultra-cheap cash -- which helped fuel a near two-year equity rally and economic rebound -- has weighed on global markets for months.
- Key figures around 1200 GMT -
London - FTSE 100: DOWN 0.1 percent at 7,585.96 points
Frankfurt - DAX: UP 0.1 percent at 15,826.79
Paris - CAC 40: DOWN 0.1 percent at 7,163.95
EURO STOXX 50: UP 0.3 percent at 4,287.77
Tokyo - Nikkei 225: UP 1.1 percent at 27,772.93 (close)
Hong Kong - Hang Seng Index: UP 3.4 percent at 24,952.35 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,555.06 (close)
New York - Dow: DOWN 1.0 percent at 35,028.65 (close)
Euro/dollar: DOWN at $1.1338 from $1.1343 late Wednesday
Pound/dollar: DOWN at $1.3604 from $1.3612
Euro/pound: UNCHANGED at 83.33 pence
Dollar/yen: DOWN at 114.27 yen from 114.33 yen
Brent North Sea crude: DOWN 0.2 percent at $88.25 per barrel
West Texas Intermediate: FLAT at $85.81 per barrel
K.Brown--BTB