UK and European markets opened higher as investors weighed the outlook for the economy and looked to fresh data.
Chinese and Hong Kong stocks climbed sharply higher after state media announced that China’s top leaders held a meeting that affirmed the government’s latest efforts to support the economy.
The dollar wobbled as investors weighed U.S. data to gauge the pace of interest rate cuts, while China’s spree of stimulus measures kept risk-sensitive currencies aloft.
Oil prices fell as investors focused on expectations of higher supplies from Libya and the broader OPEC+ group of oil exporters.
Gold and silver prices retreated from record highs, but were positioned for weekly gains on growing anticipation of another bumper U.S. interest rate cut this year, as markets awaited a key inflation report for additional guidance.
In corporate news, food producer Cranswick said it expected annual results to be at the upper end of expectations after first-half trading came in ahead of the previous year.
Clinical-stage biotherapeutics company PureTech Health announced that the schizophrenia treatment it developed, which was later sold to Bristol Myers Squibb, has been approved by US regulators, triggering a $29m payment and unlocking potential future royalties.
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