Global Stocks Hover as Investors Await Clarity on Trade Talks
Today 5:04 AM ET (Dow Jones)Print
By Avantika Chilkoti
Global stocks were mixed on Wednesday as investors awaited further developments in the trade negotiations between the U.S. and China.
The Stoxx Europe 600 was flat, as were stock futures tied to the Dow Jones Industrial Average. In Asia, the Shanghai Composite Index slipped 0.4%, while the Hong Kong and South Korean gauges ended the day little changed.
Markets are seeking clarity on concessions that may be offered by both China and the U.S. to resolve the monthslong trade war that has weighed on the global economic outlook.
In the U.S., shares in HP surged over 14% in offhours trading after The Wall Street Journal reported that Xerox Holdings is considering making a cash-and-stock offer for the personal-computer maker.
Banks were among the biggest gainers in Europe. Shares in Société Générale rose 3.8% after a key measure of the French lender's capital strength improved in the third quarter. UniCredit shares increased 3% as the Italian lender moved a bad-loan portfolio off its books in a transaction that it said would amount to a "significant risk transfer."
In the U.K., Marks & Spencer Group gained 4% after the British retailer pared costs and reported a slower rate of store closures in its first-half results.
Brent crude, the global oil benchmark, lost 0.7% to $62.53 a barrel after the American Petroleum Institute released fresh data late Tuesday that signaled an increase in U.S. inventory.
Later in the day, a string of closely watched companies are set to report earnings, including CVS Health, Qualcomm, Fox and Chinese technology firm Baidu.
AI
