- Saudi crown prince says no Israel ties without Palestinian state
- Canada to further cut international student, foreign worker permits
- YouTube launches new TV-focused tools for creators
- White Sox heading for worst season in MLB history
- China the top challenge in US history: senior diplomat
- Hong Kong democracy tycoon's son warns time running out
- New migraine drugs no better than cheap painkillers: big study
- Sean 'Diddy' Combs again denied bail in sex trafficking case
- Brewers clinch division title as MLB playoff race heats up
- Man City blunted by 'giant' Inter in Champions League stalemate
- US stocks dip despite larger Fed interest rate cut
- Man City held by Inter as PSG pinch win in Champions League
- All Blacks recall Beauden Barrett for Australia Test
- Fears of all-out war as new Lebanon device blasts kill 20, wound 450
- Spurs late show saves Postecoglou blushes at Coventry
- PSG snatch late goal to beat Champions League debutants Girona
- Gittens' late double gives Dortmund Champions League win at Brugge
- Man City blunted by Inter in Champions League stalemate
- Hidden talent: French Olympic star Marchand opts for disguise
- MrBeast named in California lawsuit over 'Beast Games' show
- Gauff splits with Gilbert as coach after 14-month run
- Hundreds of thousands at risk in Sudan's El-Fasher: UN
- Harvey Weinstein pleads not guilty to new sex crime charge
- Venezuelan opposition candidate says letter conceding election was coerced
- Ukraine official claims Russian advance in Kursk has been 'stopped'
- X update allows app to bypass Brazil ban: internet providers
- Fears of all-out war as new Lebanon device blasts kill 14, wound 450
- US Fed makes aggressive rate cut, weeks before election
- Arsenal's Odegaard faces lengthy injury absence
- India coal expansion risks massive methane growth: report
- China the top challenge in US history, top diplomat says
- US Fed makes larger half-point cut in first reduction since 2020
- Ronaldo's Al Nassr appoint former AC Milan boss Pioli
- Ainslie 'relieved' as British book place in Louis Vuitton Cup final
- Struggling Roma replace sacked icon De Rossi with Ivan Juric
- Women's NBA will add 15th team in Portland in 2026
- Brazil fires need harsher punishment: environmental police boss
- Boeing to start large temporary furloughs amid Seattle strike
- Fears of all-out war as new Lebanon device blasts kill nine, wound 300
- 'Emergency' declared over falling UK butterfly numbers
- McIlroy outlines threats to golf peace deal
- Stock markets, dollar slip before US rate decision
- Russian advance in Kursk 'stopped': Ukraine official to AFP
- UN members demand end to 'unlawful' Israeli occupation of Palestinian territories
- Snapchat pushes 'safer' platform image, but not everyone agrees
- Three dead, 100 wounded in new wave of Lebanon device explosions
- So where does the oceans' plastic waste come from?
- Allied war heroes buried in Netherlands... 80 years on
- Marsh coy over Australia's choice to open alongside Head
- New London sculpture pays tribute to trans community
CMSC | 0.02% | 25.055 | $ | |
SCS | 0.71% | 14.11 | $ | |
RIO | -0.02% | 62.91 | $ | |
CMSD | -0.12% | 24.98 | $ | |
NGG | -0.46% | 70.05 | $ | |
RBGPF | 5.79% | 60.5 | $ | |
GSK | -0.31% | 42.43 | $ | |
BCE | 3.09% | 35.61 | $ | |
AZN | 0.06% | 78.58 | $ | |
JRI | 0.45% | 13.44 | $ | |
BTI | -0.34% | 37.88 | $ | |
BCC | 1.33% | 137.06 | $ | |
BP | -0.37% | 32.43 | $ | |
RYCEF | 1.37% | 6.55 | $ | |
VOD | 0.49% | 10.23 | $ | |
RELX | -0.82% | 47.37 | $ |
Stocks steady as traders mull interest rate outlooks
Stock markets largely steadied Monday with sentiment dominated by the outlook for interest rate rises as inflation soars.
A forecast-busting US jobs report Friday reinforced optimism that the world's top economy was well on the recovery track, but also ramped up expectations of an interest rate hike by the Fed in March.
It comes as surging global inflation resulted in the Bank of England last week hiking its main interest rate for a second meeting in a row, while the European Central Bank signalled that it may raise borrowing costs this year.
"There are plenty of reasons for investors to be cautious," said Russ Mould, investment director at AJ Bell.
"Strong US jobs data last week might suggest the Fed pushes up rates faster and harder than currently expected. Ongoing tensions between Ukraine and Moscow also hang over markets."
With US inflation data this week tipped to show prices rising at a pace not seen in 40 years, traders are becoming increasingly anguished that Federal Reserve rate hike plans could jeopardise the recovery.
There is mounting talk that the US central bank will have to hike borrowing costs at least four times this year -- with some predicting as many as seven rises could occur.
Elsewhere Monday, oil prices retreated after European benchmark contract, Brent North Sea crude, hit $94 -- the highest level for more than seven years.
Expectations that energy demand will continue to improve as the world economy reopens, as well as a cold snap in the United States and uncertainty over the Russia-Ukraine stand-off are expected to keep crude futures well supported according to analysts.
Still, signs of a breakthrough in Iran nuclear talks could help staunch the surge, they added.
- Key figures around 1200 GMT -
London - FTSE 100: UP 0.3 percent at 7,537.48 points
Frankfurt - DAX: UP 0.2 percent at 15,124.05
Paris - CAC 40: DOWN 0.1 percent at 6,942.35
EURO STOXX 50: FLAT at 4,085.22
Tokyo - Nikkei 225: DOWN 0.7 percent at 27,248.87 (close)
Hong Kong - Hang Seng Index: FLAT at 24,579.55 (close)
Shanghai - Composite: UP 2.0 percent at 3,429.58 (close)
New York - Dow: DOWN 0.1 percent at 35,089.74 (close)
Euro/dollar: DOWN at $1.1444 from $1.1453 Friday
Pound/dollar: DOWN at $1.3514 from $1.3527
Euro/pound: UP at 84.68 pence from 84.65 pence
Dollar/yen: DOWN at 114.92 yen from 115.21 yen
Brent North Sea crude: DOWN 0.3 percent at $93.03 per barrel
West Texas Intermediate: DOWN 0.8 percent at $91.57 per barrel
L.Dubois--BTB