Financial News

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October 10, 2019
AP-NC Newswatch
October 11, 2019
Financial News

 

 

 

Global stocks higher … Energy prices up … British pound surges to highest level in nearly a month

 

 

BEIJING (AP) – Global stocks followed Wall Street higher today on optimism about U.S.-Chinese talks on ending a tariff war, while oil prices spiked 2% after a rocket attack on an Iranian tanker. In early trading, Germany’s DAX added 1.1% and France’s CAC 40 advanced 0.4%. London’s FTSE 100 shed 0.2%. In Asia, the Shanghai Composite Index closed 0.9% higher and Tokyo’s Nikkei 225 gained 1.2%. Hong Kong’s Hang Seng advanced 2.4%. Wall Street is expected to open higher, with S&P futures up 0.6% and Dow futures up 0.5%.

 

LONDON (AP) – Energy prices are up after an apparent attack on an Iranian tanker revived concerns about instability in the oil-rich region. The international benchmark for oil rose 1.6% to $60.05 a barrel Monday after Iranian officials said two missiles had hit a tanker off the coast of regional rival Saudi Arabia. A bombing of Saudi Arabia’s largest oil processing facility this summer caused a 10% spike in the oil price, but markets calmed as authorities quickly restored output. The U.S. blamed the attack on Iran, who deny any involvement.

 

WASHINGTON (AP) – President Donald Trump says U.S.-China trade talks are going “very well” and that he would meet at the White House today with the leader of the Chinese negotiating team. Expectations were low that the negotiations would do much to resolve a 15-month trade battle, which is weighing on the global economy. Trump made the remarks as the first of an expected two days of talks wrapped up yesterday.

 

BRUSSELS (AP) – The pound has surged to its highest level in nearly a month as hopes rise of a Brexit deal between Britain and the European Union. By mid-morning on Friday, the currency was up 0.8% on the day to $1.2537. European Union Council chief Donald Tusk says he has “received promising signals” from Ireland’s prime minister that a Brexit deal is still possible and he has extended a deadline from today to through the weekend to continue talks with the United Kingdom.

 

PARIS (AP) – French carmaker Renault has fireded its chief executive officer, overhauling its leadership once again after the jailing of its previous chairman and CEO. The decision by the board today to dismiss Thierry Bollore (tee-AYR’-ee buh-ROHR’-ay was effective immediately. Bollore replaced Carlos Ghosn (gohn) after the former CEO was jailed in Tokyo in last November on charges of falsifying financial reports in under-reporting compensation and breach of trust. Ghosn, who led the Nissan-Renault alliance, is currently awaiting trial and denies wrongdoing.

 

AP-WF-10-11-19 1041GMT