London
17 °C
Manchester
Glasgow
15 °C
Dublin
15 °C
Belfast
Washington
Denver
9 °C
Atlanta
8 °C
Dallas
Houston Texas
New Orleans
14 °C
El Paso
5 °C
Phoenix
Los Angeles
17 °C
-1 °C
2 °C
3 °C
Stocks waver as US government shutdown ends / Photo: Richard A. Brooks - AFP
NYSE - LSE
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| RIO | 0.48% | 71.45 | $ | |
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| CMSC | -0.29% | 24.01 | $ | |
| RELX | 0.27% | 41.49 | $ | |
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| BTI | -0.62% | 55.475 | $ |
Stocks waver as US government shutdown ends
Stock markets wavered on Thursday after President Donald Trump signed a spending bill to end a record-long US government shutdown.
Paris rose and Frankfurt fell in European midday deals.
London dropped after data showed the UK economy slowed in the third quarter, dealing another blow to the Labour government ahead of its annual budget this month.
Shares in luxury fashion label Burberry jumped around five percent on London's top-tier FTSE 100 index after the British group narrowed first half losses thanks to sizeable cost-cutting.
In Asia, Tokyo, Hong Kong, Shanghai, Seoul, Singapore, Mumbai, Manila, Bangkok and Jakarta all rose. Sydney, Wellington and Taipei fell.
"The ending of the US government shutdown has sparked risk-on sentiment with US futures pointing to a higher open," said Victoria Scholar, head of investment at Interactive Investor.
Lawmakers in Washington voted on Wednesday to end the 43-day stoppage that closed key services and suspended the release of data crucial to gauging the state of the world's top economy.
Investors are bracing for long-awaited reports that have been held up by the closure, particularly as the Federal Reserve assesses whether to cut rates next months, as is expected.
However, the White House said figures on jobs and consumer prices for October were not likely to be released as statistics agencies were unable to collect the necessary data.
Concerns also mount that this year's AI-led market rally may have pushed valuations too high and led to a bubble in the tech sector that could burst at any time.
Wall Street stocks closed mostly higher Wednesday, with the Dow climbing to a fresh record amid speculation that traders are shifting from tech into industrials.
Attention was also on Tokyo after Japanese Finance Minister Satsuki Katayama said on Wednesday the government was keeping an eye on currency markets as the yen weakened.
The yen came under pressure following dovish comments from Japan's central bank that tempered bets on another interest rate hike and as the United States moved towards reopening its government.
Oil prices advanced after plunging around four percent on Wednesday as OPEC's monthly crude market report forecast an oversupply in the third quarter.
That came just a month after it had predicted a deficit in the period.
The commodity has come under pressure amid easing tensions in the Middle East and increasing output by OPEC and other key producers.
The International Energy Agency has estimated a record surplus in 2026.
- Key figures at around 1100 GMT -
London - FTSE 100: DOWN 0.5 percent at 9,866.25 points
Paris - CAC 40: UP 0.6 percent at 8,292.80
Frankfurt - DAX: DOWN 0.5 percent at 24,264.33
Tokyo - Nikkei 225: UP 0.4 percent at 51,281.83 (close)
Hong Kong - Hang Seng Index: UP 0.6 percent at 27,073.03 (close)
Shanghai - Composite: UP 0.7 percent at 4,029.50 (close)
New York - Dow: UP 0.7 percent at 48,254.82 (close)
Dollar/yen: DOWN at 154.67 yen from 154.80 yen on Wednesday
Euro/dollar: UP at $1.1618 from $1.1587
Pound/dollar: UP at $1.3154 from $1.3129
Euro/pound: UP at 88.32 pence from 88.25 pence
Brent North Sea Crude: UP 0.5 percent at $63.02 per barrel
West Texas Intermediate: UP 0.5 percent at $58.77 per barrel
J.Simon--PS
