- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
- De Bruyne out of Belgium Nations League squad
- Japanese trainer Yahagi hopes Shin Emperor achieves 50-year-old Arc dream
- UK's Starmer hails 'landmark' carbon capture funding
- As EU targets Chinese cars, European rivals sputter
- Bosnia floods kill 14 people
- Tennis world number one Swiatek splits with coach Wiktorowski
- Liverpool share responsibility for Nunez goal drought, says Slot
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- Top seed Sabalenka stunned by Muchova in Beijing last eight
- Khamenei says Iran's allies 'will not back down' in war with Israel
- Tsitsipas gets revenge against Nishikori at Shanghai Masters
- 'Alone against world': lawyer defending Frenchman in mass rape trial
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Singapore charges hotel tycoon in case linked to jailed minister
- India asks top court to heed marital rape leniency
- S. Korean director brings fresh film adaptation to Busan festival
- Hong Kong stocks bounce as Middle East fears boost crude again
- Blood and blades as Thailand celebrates vegetarian festival
- Binder tops Japan MotoGP practice with Martin third
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Lebanon says Israeli strike cuts off main road to Syria
- India asks top court not to toughen marital rape penalties
- Sinner not 'comfortable' as doping case clouds Shanghai campaign
- Brazilians choose mayors, councillors in bellwether election
- Japan PM warns 'today's Ukraine could be tomorrow's East Asia'
- Portugal looks to put new twist on cork industry
- Spoon scratching: Kenya's DIY DJ
- Lyon's Matavesi calls for change after 'crazy' World Cup salary strike threat
- Israel bombards Beirut after deadliest West Bank strike in decades
- North Korea's Kim threatens to use nukes if attacked
- Taiwan cleans up after Typhoon Krathon batters south
- Bayern look to rebound at bogey side Frankfurt
- Finally beaten Madrid aiming for Villarreal rebound in La Liga
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Bagnaia leads Martin in first Japan MotoGP practice
- Bolivia's Morales investigated for rape of a minor: minister
- Former Wallaby O'Connor signs for Canterbury Crusaders
- Ipswich Town's Luongo enticed back to Socceroos under new coach Popovic
- Three US police convicted in connection with beating death of Black man
- Iran's Khamenei to give rare Friday sermon after attack on Israel
- EU court set for key Diarra ruling which could shake up transfer market
- Taliban's battle with IS opens door to foreign cooperation
- More than AI misinformation, US voters worry about lying politicians
- EU states set to greenlight extra tariffs on EVs from China
RBGPF | 100% | 58.93 | $ | |
CMSC | -0.16% | 24.74 | $ | |
CMSD | -0.16% | 24.89 | $ | |
SCS | -1.98% | 12.62 | $ | |
BCC | -0.9% | 138.29 | $ | |
GSK | -2.81% | 38.37 | $ | |
AZN | -2.12% | 77.93 | $ | |
RIO | -1.42% | 69.83 | $ | |
BTI | -2.45% | 35.11 | $ | |
NGG | -2.7% | 66.97 | $ | |
RYCEF | 1.15% | 6.98 | $ | |
RELX | -1.46% | 46.61 | $ | |
BCE | -1.77% | 33.84 | $ | |
JRI | -0.6% | 13.3 | $ | |
VOD | -0.52% | 9.69 | $ | |
BP | 0.28% | 32.46 | $ |
Oil extends gains, Hong Kong stocks resume rally
Oil prices rose further Friday as tensions mount in the Middle East, while Hong Kong's stock markets resumed a rally caused by China's recently-announced measures to stimulate its economy.
Europe's main equity indices diverged nearing the half-way stage, with London weighed down by a rebounding pound alongside gains for Paris and Frankfurt.
The dollar was mixed against its main rivals as traders awaited key US jobs data due Friday that could give a clearer idea of the pace of planned interest-rate cuts from the Federal Reserve.
"Oil prices continued their ascent," noted Russ Mould, investment director at trading group AJ Bell, as Brent North Sea crude and the main US contract each gained about one percent.
"This is good news for oil producers but bad news for millions of companies and consumers as they face higher energy and transport costs," he added.
Buyers of company shares were back in the driving seat in Hong Kong, after a pause Thursday to the rally that started last week thanks to Beijing unveiling a raft of economy-boosting measures.
The stimulus -- mainly targeting the property sector -- has seen stocks in the city and mainland China enjoy a blistering run of more than 20 percent on hopes that Beijing can finally reignite growth.
Hong Kong's Hang Seng Index closed up almost three percent Friday, with tech firms leading the charge, while developers -- who have seen eye-watering gains over the past week -- fluctuated as investors awaited cues from China.
Mainland Chinese markets were closed for the Golden Week holiday.
There were also gains in Tokyo at the end of a rollercoaster week dictated by a volatile yen after the election of Shigeru Ishiba as prime minister.
"Investors are likely to remain on edge as they weigh the evolving monetary policy signals from Japan against shifting geopolitical developments," said ACY Securities currency analyst Luca Santos.
Attention was firmly on the oil market as tensions escalate in the crude-rich Middle East.
Israel bombarded south Beirut at least 10 times late Thursday, Lebanese sources said, after it launched its deadliest strike on the occupied West Bank in decades.
The escalating assaults by Israel come as it weighs retaliation for Iran's barrage of missiles fired at the country, with the United States saying Israel hitting Iranian oil facilities is on the table.
Iran said the attack was its response to the killing of Hassan Nasrallah, chief of its ally Hezbollah, and other top figures.
Crude prices rocketed around five percent Thursday when US President Joe Biden said he was "discussing" possible Israeli strikes on Iranian oil sites in retaliation for Tehran's barrage.
Meanwhile China's drive to reignite its vast economy has the potential to cause a surge in demand the oil, according to analysts.
- Key figures around 1000 GMT -
Brent North Sea Crude: UP 1.0 percent at $78.37 per barrel
West Texas Intermediate: UP 1.1 percent at $74.50 per barrel
London - FTSE 100: DOWN 0.4 percent at 8,246.53 points
Paris - CAC 40: UP 0.4 percent at 7,510.60
Frankfurt - DAX: UP 0.2 percent at 19,045.58
Hong Kong - Hang Seng Index: UP 2.8 percent at 22,736.87 (close)
Tokyo - Nikkei 225: UP 0.2 percent at 38,635.62 (close)
Shanghai - Composite: Closed for a holiday
New York - Dow: DOWN 0.4 percent at 42,011.59 (close)
Pound/dollar: UP at $1.3167 from $1.3124 on Thursday
Euro/dollar: DOWN at $1.1027 from $1.1029
Euro/pound: DOWN at 83.73 pence from 84.03 pence
Dollar/yen: DOWN at 146.44 from 146.92 yen
O.Bulka--BTB