- De Zorzi out for 177 as S.Africa power to 413-5 against Bangladesh
- 'CEO of supercute': Hello Kitty turns 50
- Australia head coach McDonald handed new deal until 2027
- Visual artist grabs 'decisive moment' to nurture Chad art scene
- Industrial slump leaves Germany on brink of recession
- 'I'm terrified': French auteur Audiard hits Oscars trail for 'Emilia Perez'
- New Indonesia defence chief harks back to dictator's rule
- In Tennessee, the despair of gun control advocates
- US economy's solid growth unlikely to register at ballot box
- 'A treasure': Japan's Ohtani a hometown hero win or lose in World Series
- Botswana votes with ruling party seeking to extend six decades of power
- Bitcoin close to record as cautious markets eye US election
- Hometown hero Volpe lives dream with grand slam for Yankees
- Rested relief pitchers please Roberts even after Dodgers defeat
- UK's Labour govt prepares to deliver decisive first budget
- Beijing files WTO complaint over EU's new taxes on Chinese EVs
- Volpe's grand slam helps Yankees avoid World Series sweep
- Taiwan battens down for Super Typhoon Kong-rey
- MotoGP world title in sight as Martin, Bagnaia set for Sepang duel
- 'New wave' as start-up sweeps up Thai ocean plastic
- Botswana votes with ruling party aiming to extend six decades of power
- How harmful are microplastics to human health?
- Are bioplastics really the wonder alternative to petro plastics?
- EU's extra tariffs of up to 35.3% on Chinese EVs angers Beijing
- Rumble in the Jungle remembered after 50 years
- Trump risks backlash with anti-trans ads targeting Harris
- Alzheimer's patient 'relieved' at Quebec's assisted suicide policy shift
- Who should get paid for nature's sequenced genes?
- Bodies found as torrential rains slam Spain
- Harris urges US to turn page on Trump 'chaos' in mass White House rally
- Climate change driving 'record threats to health': report
- Harris warns of 'obsessed' Trump power grab at mass Washington rally
- Harris warns against Trump's power grab bid in final election warning
- Southampton, Brentford scrape into League Cup quarter-finals
- PGA players council seeks smaller fields, fewer full tour spots
- Napoli extend lead at top of Serie A with win at AC Milan
- Harris to slam 'unstable' Trump at Washington rally
- Jennifer Lopez to boost Harris at glitzy Las Vegas event
- Global stocks mixed as markets await Big Tech results
- Seven missing as torrential rains slam Spain
- Three-person crew blasts off for China's Tiangong space station
- Google reports strong growth driven by AI, Cloud
- Kyiv announces new mobilisation drive as Russia advances
- Release of new single featuring late One Direction star postponed
- Alcaraz breezes through opener at Paris Masters
- Bolivia 'going from bad to worse': At the barricades with Morales supporters
- Biden unveils $3 bn US ports boost, takes aim at Trump
- EU slaps extra tariffs of up to 35.3% on Chinese EVs
- England boss Borthwick has no qualms over starting Slade against All Blacks
- 'Tootsie' star Teri Garr dies aged 79
NGG | -1.35% | 65.12 | $ | |
RELX | -0.52% | 47.91 | $ | |
RBGPF | 100% | 62.35 | $ | |
SCS | -3.11% | 12.21 | $ | |
RYCEF | 0.55% | 7.25 | $ | |
BCC | -5.3% | 131.64 | $ | |
CMSC | -0.65% | 24.57 | $ | |
CMSD | -0.16% | 24.84 | $ | |
RIO | 0.6% | 66.58 | $ | |
VOD | -2.8% | 9.28 | $ | |
BCE | -0.71% | 32.46 | $ | |
BTI | -1.31% | 34.46 | $ | |
JRI | -0.69% | 12.98 | $ | |
GSK | 0.76% | 38.17 | $ | |
AZN | -1.05% | 75.22 | $ | |
BP | -5.76% | 29.36 | $ |
Dow ends at record as luxury share weakness hits European bourses
The Dow finished at a record Monday as markets weighed the impact of the failed assassination attempt on Donald Trump, while European bourses came under pressure from weakness in the luxury sector and disappointing Chinese economic data.
The blue-chip index piled on 0.5 percent to finish at 40,211.72, notching its first record since mid-May.
Major US indices were in positive territory the entire session amid talk that the assassination attempt boosted Trump's prospects in the election.
Trump was hit in the ear but not seriously injured in a gun attack during a campaign event on Saturday in Pennsylvania ahead of the Republican National Convention in Wisconsin.
The former president announced Monday that Ohio Senator J.D. Vance will be his vice presidential nominee.
"The connection for the market is that former President Trump is seen by many to be a more market-friendly candidate due in part to his push for deregulation and a lower corporate tax rate," O'Hare said.
"Still, others worry that his push to increase tariffs could also lead to higher inflation."
The Dow record came as Fed Chair Jerome Powell expressed confidence that inflation is in retreat, reiterating a stance that boosted markets last week.
Strong results from Goldman Sachs and BlackRock also boosted sentiment on Wall Street.
Earlier the Paris bourse fell 1.2 percent following a bruising day for luxury equities, with LVMH, Hermes and Kering all declining.
Burberry stock tumbled more than 16 percent in London after it announced the immediate departure of chief executive Jonathan Akeroyd as it posted "disappointing" results.
Another heavy blow came as Swatch reported plunging profits owing to the luxury market crisis in China and warned that sales in the key market were likely to remain difficult this year, sending its shares down more than nine percent.
Official statistics showed the Chinese economy grew by 4.7 percent in the second quarter of the year, the slowest rate of expansion since early 2023, when China was emerging from a crippling zero-Covid policy that strangled growth.
The figures came the same day that China's ruling Communist Party kicked off a key meeting led by President Xi Jinping focused on the economy, known as the Third Plenum.
The world's second-largest economy is grappling with a real estate debt crisis, weakening consumption, and an ageing population.
Analysts are hoping the gathering spawns badly needed support for the economy.
- Key figures around 2030 GMT -
New York - Dow: UP 0.5 percent at 40,211.72 (close)
New York - S&P 500: UP 0.3 percent at 5,631.22 (close)
New York - Nasdaq Composite: UP 0.4 percent at 18,472.57 (close)
London - FTSE 100: DOWN 0.9 percent at 8,182.96 (close)
Paris - CAC 40: DOWN 1.2 percent at 7,632.71 (close)
Frankfurt - DAX: DOWN 0.8 percent at 18,590.89 (close)
EURO STOXX 50: DOWN 1.2 percent at 4,983.11 (close)
Hong Kong - Hang Seng Index: DOWN 1.5 percent at 18,015.94 (close)
Shanghai - Composite: UP 0.1 percent at 2,974.01 (close)
Tokyo - Nikkei 225: Closed for a holiday
Dollar/yen: UP at 158.09 yen from 157.83 yen on Friday
Euro/dollar: DOWN at $1.0902 from $1.0907
Pound/dollar: DOWN at $1.2970 from $1.2988
Euro/pound: UP at 84.03 pence from 83.97 pence
Brent North Sea Crude: DOWN 0.2 percent at $84.85 per barrel
West Texas Intermediate: DOWN 0.4 percent at $81.91 per barrel
burs-jmb/dw
A.Gasser--BTB