Wednesday, November 30, 2016
Tuesday, November 29, 2016
People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File photo
This meant that an overall recovery in stocks was tempered by commodity-related losses.
"The fact that the FTSE 100 is going one way and the FTSE 250 is going the other way suggests that there is a sector specific event going on, as the FTSE 100 is more commodities heavy," said Investec economist Philip Shaw.
The miner-heavy FTSE 100 index .FTSE was down 0.38 percent but the FTSE Mid 250 was up 0.15 percent .FTMC at 0940 GMT (5:40 a.m. ET).
Outside of the commodities sector, investors appeared inclined to take on more risk, with Italian stocks .FTMIB up 0.72 percent and the banking sub-index .FIT8300 up 2.6 percent. This helped push the STOXX Europe 600 Index up 0.16 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan.MIAPJ0000PUS fell 0.27 percent after two days of gains. Tokyo stocks .N225 slipped 0.3 percent, hit by a relatively strong yen.
European government bond markets were also trending in this direction, with safe-haven Germen government bond yields up 1-2 basis points and lower-rated Italian, Spanish and Portuguese bond yields lower.
Italy, in focus ahead of a referendum this weekend, led the gains on the day with its 10-year bond yields IT10YT=TWEB down 4.7 basis points to 2.02 percent.
But the gain comes just days after the bond yields hit their highest level since September 2015.
"I wouldn't overdo it by describing this as a risk-on environment - the gains (in bond and share prices) are still relatively modest," he said.
Italian bond yields have been rising before Sunday's referendum on constitutional change, on which Prime Minister Matteo Renzi has staked his future.
"Citi's base case is for a No vote to prevail with political uncertainties likely to remain elevated over the near-term," wrote analysts at Citi.
"It's worth watching whether PM Renzi resigns in the event of a No vote as promised, before rushing into euro shorts."
The event has brought Italy's ailing banking sector sharp relief, and earlier this week Italian banking stocks hit their lowest point since end-September on continued worries over a cash call at troubled Monte dei Paschi.
The political risk kept the euro restrained despite the pullback in the dollar. The single currency EUR= fell 0.17 percent to $1.0597.
The dollar was again moving higher on the yen to reach112.615 JPY=, after profit-taking pulled it down as far as111.58. It remains over 7 percent higher for the month.
Dealers reported Japanese buying for the new month with orders today settling on Dec. 1. Against a basket of currencies, the dollar held at 101.280 .DXY and not far from last week's14-year peak.
The greenback was still on track for its strongest two-month gain since early 2015, underpinned by expectations the FederalReserve is almost certain to hike interest rates next month.
For Reuters new Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets
(Additional reporting by Wayne Cole in Sydney; Editing by Tom Heneghan)
Monday, November 28, 2016
Friday, November 25, 2016
Thursday, November 24, 2016
U.S. President Barack Obama holds meeting with Trans-Pacific Partnership (TPP) leaders at the APEC Summit in Lima, Peru November 19, 2016.REUTERS/Kevin Lamarque
China said it will actively participate in bilateral and multilateral trade deals, with the goal of deepening reform and opening up its economy, regardless of the direction the Trans Pacific Partnership (TPP) or the China-backed Regional Comprehensive Economic Partnership (RCEP) might take.
The statement follows U.S. President-elect Donald Trump saying he would withdraw the United States from the multi-country TPP that excludes China, putting RCEP - a rival pact that excludes the United States - as the front-runner for new free trade deals in the region.
When asked for clarification on the specifics of the planned reform, Commerce Ministry spokesman Shen Danyang said in a briefing on Thursday that it was "comprehensive" and included economic reform.
China will push for RCEP negotiations to be sped up to conclude soon, with full respect for Association of Southeast Asian Nations (ASEAN)'s core status in the deal, Shen said.
Chinese President Xi Jinping pledged at the APEC summit in Peru to open the economy further, as leaders of Asia-Pacific countries sought new free-trade options following the election of Trump whose campaign promised to scrap or renegotiate trade deals.
The RCEP, which includes Australia, India and more than a dozen other countries, is seen as perhaps the only path to the broader Free Trade Area of the Asia-Pacific (FTAAP) to which APEC aspires.
The China Daily, the official state-run English-language newspaper, said many Chinese commentators were revelling in the demise of the TPP, and called it an "excessively complex" deal that was "doomed from the start".
"Encumbering a trade arrangement with too many politics isn't the right way to do business," the paper said in an editorial, adding that the TPP was "more of a political weapon than a real business deal".
"So long as it is meant to be genuine real trade, China is happy to write the rules with all its partners," it said.
(Reporting by Yawen Chen, Nicholas Heath, and Michael Martina; Editing by Eric Meijer)