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UK & European stocks rose as investors reacted to
a flurry of market-moving news over the weekend, such as the exit of Joe Biden
from the US presidential race, a reduction in interest rates in China and
ongoing global IT outages.
Asia-Pacific markets fell, as news emerged that U.S.
President Joe Biden had dropped out of the presidential race and endorsed Vice
President Kamala Harris as the Democratic nominee.
Gold prices firmed as the dollar eased following U.S.
President Joe Biden’s decision to withdraw from the 2024 presidential race,
with investors turning to bullion as a hedge against an uncertain political and
market outlook.
Oil prices rose in early trade as investors keep a
lookout for signs of a rate-cut cycle expected to begin as soon as September.