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Stocks Climb Globally After Halt in China Sell-Off: Markets Wrap – Yahoo Finance, Yahoo.com

Stocks Climb Globally After Halt in China Sell-Off: Markets Wrap – Yahoo Finance, Yahoo.com

Bloomberg) – European stocks climbed with US Equity futures after a brutal sell-off in Chinese equities halted on Tuesday, as investors gauged the latest efforts to contain the coronavirus. Treasuries slipped with gold. The Stoxx Europe 667 Index’s advance was led by mining and chemicals shares as every industry sector rose. BP Plc jumped in early trading after an earnings beat. Equities rebounded from Shanghai and Hong Kong to Seoul and Taipei in the wake of a record $ a billion wipeout in China on Monday. The yuan recouped the previous session’s decline while the yen dipped. West Texas oil rose after a four-day retreat. A gauge of the dollar held most of its Monday gain, the biggest since September. The pound extended its drop versus the greenback on concern over post-Brexit trade talks between the U.K. and the European Union. Investors are weighing China travel restrictions and business shut- Downs alongside measures Beijing is introducing to support growth as the hit to the country’s economy mounts. The latest death toll from the virus is , while the number of cases has risen to more than , . Macau is asking casinos in the world’s largest gaming hub to shut down for half a month as part of efforts to contain the spread.

Elsewhere, Australia’s dollar climbed after the central bank highlighted the impact of past interest-rate cuts, while saying it’s too early to tell what the duration of the effect from the coronavirus will be.

Meanwhile, traders are also waiting for the outcome of the Iowa Caucuses , as the 2020 Democratic presidential race kicks off. Problems with the reporting process have delayed the results.

Here are some key events coming up:

The US Democratic Party of Iowa on Tuesday will release results from caucuses, the opening event of its nomination race for the presidency. Euro zone PMI data in its final version will be released Wednesday.The Reserve Bank of India’s interest rate decision is due Thursday.The US employment report for January is set for Friday release.

These are the main moves in markets:

The Stoxx Europe 667 Index jumped 0.8% as of 8: 22 am London time.Futures on the S&P Index rose 1% .nasdaq 350 Index futures gained 1% .The MSCI All-Country World Index rose 0.4% .The MSCI Asia Pacific Index surged 1.2%. Currencies The Bloomberg Dollar Spot Index decreased 0.1% .The British pound dipped 0.2% to $ 1. . The euro was little changed at $ 1 . 2020. The Japanese yen weakened 0.2% to (per dollar.The offshore yuan strengthened 0.3% to 6.) (per dollar. (Bonds) (The yield on

– year Treasuries increased three basis points to 1. %. Germany’s

– year yield rose two basis points to -0. % Britain’s

– year yield gained three basis points to 0. (%.)

Commodities

(West Texas Intermediate crude advanced 1% to $ . a barrel.Spot gold fell 0.3% to $ 1,

(an ounce.LME copper futures surged 2.4% to $ 5, 720. (per metric ton.) – With assistance from Ranjeetha Pakiam. To contact the reporters on this story: Andreea Papuc in Sydney at [email protected]; Todd White in Madrid at [email protected]

To contact the editor responsible for this story: Sam Potter at spotter @ bloomberg.net

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