London
15 °C
Manchester
Glasgow
Dublin
14 °C
Belfast
14 °C
Washington
16 °C
Denver
Atlanta
12 °C
Dallas
23 °C
Houston Texas
New Orleans
El Paso
27 °C
Phoenix
Los Angeles
22 °C
9 °C
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Stock markets rise on AI optimism / Photo: © AFP
NYSE - LSE
| CMSC | -0.34% | 23.67 | $ | |
| AZN | -0.83% | 81.72 | $ | |
| BTI | 2.38% | 52.44 | $ | |
| BCC | -3.15% | 68.34 | $ | |
| SCS | -0.76% | 15.84 | $ | |
| GSK | -1.1% | 46.35 | $ | |
| CMSD | -0.38% | 23.9 | $ | |
| NGG | -0.68% | 74.74 | $ | |
| RBGPF | -3.95% | 76 | $ | |
| BP | -0.75% | 34.87 | $ | |
| RIO | -1.95% | 70.37 | $ | |
| JRI | -0.14% | 13.88 | $ | |
| RYCEF | 1.37% | 15.36 | $ | |
| BCE | -0.84% | 22.67 | $ | |
| RELX | -0.16% | 44.17 | $ | |
| VOD | -5.89% | 11.38 | $ |
Stock markets rise on AI optimism
Major European and Asian stock markets rose Monday as optimism over the artificial intelligence sector carried over into the new week, according to analysts.
Investors began November on the front foot after an upbeat end to October that saw easing China-US tensions, a cut to US interest rates and healthy earnings from market darlings including technology giant Amazon.
Traders also hoped for US jobs data later this week, though the ongoing government shutdown -- with Democrats and Republicans no closer to a deal -- could cause the key figures to be suspended again.
"Tech and AI remain a huge theme for investors as we move into the final months of the year," noted Kathleen Brooks, research director at trading group XTB.
Nvidia, whose chips are key for many companies' AI growth, became the first $5-trillion firm last week.
Wall Street gains Friday crossed over into most Asian and European stock markets Monday.
Frankfurt led gains in Europe, rising 1.2 percent in early afternoon deals.
Seoul piled on 2.8 percent, reaching a fresh record-high, as investors cheered a thawing of ties between South Korea and China.
Tokyo was closed for a holiday.
Investors were keeping tabs on any new trade developments after Trump and Chinese President Xi Jinping met last week and agreed a deal to ease China's rare earth curbs and lower US tariffs.
Still, US Treasury Secretary Scott Bessent on Sunday warned that the White House could again hike levies on China should it block rare earth exports.
Oil prices fell Monday after the OPEC+ alliance announced at the weekend that it would lift output again in December.
It also said it would pause production in the first quarter of 2026.
Gold prices hovered around $4,000 an ounce after China said it was scrapping a tax incentive on buying the precious metal seen as a safe-haven investment.
It has retreated in recent sessions also on profit-taking, having struck an all-time peak above $4,381 last month.
- Key figures at around 1130 GMT -
London - FTSE 100: UP 0.1 percent at 9,729.78 points
Paris - CAC 40: UP 0.2 percent at 8,143.51
Frankfurt - DAX: UP 1.2 percent at 24,234.90
Hong Kong - Hang Seng Index: UP 1.0 percent at 26,158.36 (close)
Shanghai - Composite: UP 0.6 percent at 3,976.52 (close)
Tokyo - Nikkei 225: Closed for a holiday
New York - Dow: UP 0.1 percent at 47,562.87 (close)
Euro/dollar: DOWN at $1.1517 from $1.1527 on Friday
Pound/dollar: DOWN at $1.3136 from $1.3139
Dollar/yen: UP at 154.15 yen from 154.11 yen
Euro/pound: DOWN at 87.67 from 87.74 pence
Brent North Sea Crude: DOWN 0.5 percent at $64.48 per barrel
West Texas Intermediate: DOWN 0.5 percent at $60.69 per barrel
A. Martins--JDB
