Stocks

Stocks mixed on China concern, dovish ECB comments

BLOOMBERG European stocks were mixed as traders weighed concerns over China’s debt burden against dovish comments by a European central banker. The Stoxx 600 was little changed, while US equity futures extended losses. German government debt advanced and money markets amped up easing bets after the ECB’s Isabel Schnabel told Reuters that further interest rate hikes are unlikely. At the ...

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Euro drops, stocks gain as ECB rate cut expectations build

BLOOMBERG The euro retreated and stocks climbed as decelerating European inflation added fuel to broader rate-cut expectations that have spurred a global rally in assets this month. The currency was trading 0.4% weaker versus the dollar after the pace of price growth in the region cooled more than expected. Ten-year bund yields were slightly lower after slipping as much as ...

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Rand falls victim to South Africa’s ‘noise’ in dismal November

BLOOMBERG November has been good to South Africa’s rand for the past five years. This time is different. South Africa’s currency is on track for an 0.3% decline against the dollar this month, one of only four emerging-market peers to weaken. MSCI’s developing nation currency index is set for a 2.9% November gain. That’s in contrast to the rand’s performance ...

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Bitcoin retakes $38,000 while rate cut expectations rise

BLOOMBERG Bitcoin climbed back above $38,000 amid optimism the US central bank may be closer to lowering borrowing costs if inflation continues to decline. The largest cryptocurrency by market value gained as much as 3.3% to $38,264 before trimming the increase. Bitcoin reached an 18-month high of $38,422. Lower rates generally increase investors’ appetite for riskier assets such as digital ...

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Treasuries extending gains as Federal Reserve pivot bet grows

BLOOMBERG Treasuries continued their November rally as expectations grew that the Federal Reserve is done with policy tightening and may start cutting interest rates next year. European equities and US futures edged higher, following a mixed session in Asia. German bonds headed for their longest streak of gains in more than four weeks as state data showed inflation continued to ...

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Stocks retreat on signs Nov rally in equities is overdone

BLOOMBERG European stocks fell for a second day and US futures pointed to a weaker open on Wall Street amid signs the November rally in equities is overstretched. The Stoxx 600 retreated 0.7%, while contracts on the S&P 500 dipped by 0.2%. Dutch biotech Argenx SE sank as much as 17% after preliminary results suggested its only medicine failed in ...

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Adani stocks add $15b in best day since Hindenburg report

  BLOOMBERG Shares of Adani Group companies rallied, with the flagship Adani Enterprises Ltd surging 13%, after India’s Supreme Court concluded hearing the arguments in a case relating to an investigation into the plunge in the conglomerate’s stocks earlier this year. The jump added more than $15 billion to the ports-to-power conglomerate’s market value, the most since Hindenburg Research in ...

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Stocks edge lower on China data; gold hits above $2,000

BLOOMBERG Stocks fell and gold climbed to a six-month high as data showed a sharp slowdown in China’s industrial profits, which reinforced investor concerns about its sluggish economy. The Stoxx 600 index fell 0.3% and Nasdaq futures retreated 0.2%. Treasury 10-year yields climbed as much as five basis points to 4.51%, the highest in more than a week. Gold climbed ...

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South Korea is probing sales of exotic notes linked to Chinese stocks

BLOOMBERG A South Korean regulator is investigating whether financial institutions that sold derivatives products linked to Chinese stocks adequately explained the risk of losses to retail investors. The Financial Supervisory Service is probing sales of equity-linked securities tied to the Hang Seng China Enterprises Index, the regulator said in a text message. Some 8.41 trillion won ($6.5 billion) of such ...

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Brazil raises 2023 deficit estimate, fuelling market jitters

BLOOMBERG Brazil raised its estimate for this year’s budget gap to account for rising government spending and declining revenue amid a weakening economy. The primary fiscal deficit, which doesn’t take into account interest payments, will reach 177.4 billion reais ($36.1 billion) this year, compared with a previous forecast of 141.4 billion reais, according to an official report. Public expenses were ...

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