FTSE 100 Edges Higher As Commodity Stocks Rally On China Optimism

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FTSE 100 Edges Higher As Commodity Stocks Rally On China Optimism

(RTTNews) - U.K. stocks were moving higher on Friday as resource stocks gained ground amid optimism surrounding China's reopening and expectations of more stimulus to support domestic demand.

Miners Anglo American, Antofagasta and Glencore rose 1-2 percent on hopes for normalization in Chinese economic activity after authorities said that the first wave of infections has hit a peak in cities including Beijing and Tianjin.

Oil & gas firm Shell gained 1 percent after saying that it expects around $2 billion additional tax hit on its fourth quarter of 2022.

The benchmark FTSE 100 was up 12 points, or 0.2 percent, at 7,644 after rising 0.6 percent on Thursday.

Frasers Group shares fell 1.3 percent. The retail, sport and intellectual property group issued an update regarding its investment in German luxury fashion brand Hugo Boss AG.

Clarkson, a shipping services provider, jumped 7 percent as it reported strong trading throughout the final quarter, particularly from the broking division.

The company said it now expects fiscal 2022 results to be ahead of current market expectations.

Essentra, a provider of essential components and solutions, plunged 8 percent after its fourth-quarter continuing business revenue declined around 3 percent from last year, on a like-for-like or LFL trading day adjusted basis.

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Asian Shares Bounce Back On Strong US Data

Asian Shares Bounce Back On Strong US Data

Asian markets rose on Thursday after two days of declines. Traders pondered the outlook for interest rates after the release of strong U.S. economic data and the announcement of 2025 election results, which were good to Democrats with wins in several major races, including governor's races in two states.
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U.S. Dollar Falls Amid Risk-off Mood

U.S. Dollar Falls Amid Risk-off Mood

The U.S. dollar weakened against other major currencies in the Asian session on Thursday amid increased risk-off sentiment, as some traders looked to pick up stocks at reduced levels following the recent sell-off. Traders also react to upbeat private U.S. economic data and growing expectations that the U.S. Supreme Court may reject the Trump administration's aggressive trade policy.
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German Industrial Production Recovers In September

German Industrial Production Recovers In September

Germany's industrial production recovered in September driven by the rebound in the auto industry, official data revealed on Thursday. Industrial output expanded 1.3 percent from August, when it was down 3.7 percent, Destatis reported. Economists had forecast a monthly growth of 3.0 percent. Year-on-year, industrial production logged a slower decline of 1.0 percent, following a 3.6 percent fall.
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European Economic News Preview: Bank Of England Set To Hold Rates

European Economic News Preview: Bank Of England Set To Hold Rates

The Bank of England is expected to hold its benchmark rate on Thursday as policymakers await the Autumn Budget announcement. Markets widely expect the BoE to maintain the bank rate at 4.00 percent in a split vote. The current rate is the lowest since early 2023. The policy decision is due at 7.00 am ET.
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European Shares Set For A Firm Start

European Shares Set For A Firm Start

European stocks are seen opening broadly higher on Thursday as solid U.S. private sector employment and services sector activity data helped calm investor worries about stretched valuations.
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Sensex, Nifty Open Higher On Firm Global Cues

Sensex, Nifty Open Higher On Firm Global Cues

Indian shares opened a tad higher on Thursday, mirroring mostly positive cues from global markets as solid U.S. private sector employment and services sector activity data helped calm investor worries about stretched valuations.
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