The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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Ocado, tobacco stocks rise after analyst comments. U.K. stocks jumped Tuesday, with gains for oil shares helping London's blue-chip index bounce off a six-week low that it reached as trade tensions between the U.S. and China escalated. The FTSE 100 index surged 1.2% to 7,697.86.
Tobacco stocks rise on ratings call. European stocks on Wednesday bounced off a nearly three-week low, staging a recovery as traders came to terms with the further deterioration in the trade relationship between the U.S. and China that sent equities worldwide tumbling in the prior session. The Stoxx Europe 600 Index rose 0.6% to 385.61, on course to wipe out Tuesday's drop of 0.7% that marked its lowest close since May 31. All sectors rose on Wednesday, led by the basic materials...
'We'll have monetary policy, which will exhaust really quickly, but we don't have any fiscal stabilizers' says Jones. Paul Tudor Jones, a hedge-fund luminary, on Monday said the next economic downturn confronted by the U.S. could be an ugly one. "The next recession is really frightening because we don't have any stabilizers," he said, speaking at an event sponsored by Goldman Sachs and hosted by its CEO Lloyd Blankfein called "Talk at GS."
Chinese indexes fare the worst; Nikkei gives up early gains. Asian markets struggled to recover Wednesday from the previous day's losses, with indexes around the region mixed in early trading. Chinese stocks fared the worst, adding to Tuesday's plunge and moving them closer to bear-market territory.