SYDNEY (Reuters) – Stocks rallied in most major markets on Thursday as the trade-off between China and the United States and the more stimulating talks in China helped calm nerves, but persistent ones Commercial tensions caused Chinese stocks to fall, dragging other Asian markets down.
Oil prices eased somewhat as nerves grew before Friday's meeting between OPEC and other big producers, including Russia, with growing expectations that the Vienna talks could result in an agreement to increase crude supplies. [O/R]
European shares are expected to rise, and spread-betters are calling for a further 0.4 percent opening in the British FTSE .FTSE and French CAC 40 .FCHI and 0.3 percent in the German DAX .GDAXI.
Japan's Nikkei .N225 added 0.6 percent while futures for the S & P 500 ESc1 rose 0.3 percent as investors expected new developments in global trade.
The main index of Australia had another strong day, rising 1 percent in demand for fund managers before the end of the local financial year next week.
Asian stocks, however, struggled to maintain early gains due to concerns about the trade war.
MSCI's broader index of Asia-Pacific equities outside of Japan. MIAPJ0000PUS had gained as much as 0.5 percent before falls led by Chinese equities fell 0.4 percent.
The CSI300 index of shares of Shanghai and Shenzen fell 0.4 percent .CSI300.
Even so, the mere absence of President Donald Trump's new threats on tariffs were enough to curb recent sales in many markets, and investors clung to the hope that all the bluffing was a ploy that would not lead to war. direct commercial
"Many participants see the hard line of the Trump administration as part of the negotiation strategy," said Richard Grace, CBA's foreign exchange strategist.
The markets were also encouraged by the decision of the People's Bank of China to establish firm adjustments for its yuan, together with the addition of additional liquidity.
There was also much speculation that the central bank would reduce the bank reserve requirements, which would increase the power of the loans in the economy.
On Wall Street, resistance in technology stocks helped the Nasdaq reach a record high, although the moves were modest. While the Dow Jones .DJI fell 0.17 percent, the S & P 500 .SPX rose 0.17 percent and the Nasdaq .IXIC 0.72 percent.
Twenty-First Century Fox Inc ( FOXA.O ) rose 7.5 percent after Walt Disney Co ( DIS.N ) sweetened its offer for some of the badets of the company to $ 71.3 billion, seeking to overthrow the offer of Comcast Corp ( CMCSA.O ).
WAITING ON THE BOE
The retreat of risk aversion softened safe havens like the yen, with the dollar adding 0.31 percent to 110.71 yen JPY =.
The dollar .DXY also strengthened 0.3 percent against a basket of currencies to 95,323, reaching a maximum of 11 months. The euro EUR = fell slightly to $ 1,152.
Sterling = D4 touched seven-month lows at $ 1.3140 after a fleeting rebound after Prime Minister Theresa May won another crucial vote in the Brexita parliament.
The Bank of England holds a policy meeting later in the session, but not a single badyst surveyed by Reuters expects a rate hike, and some are beginning to feel an increase in August given recent economic data.
While the European Central Bank has signaled the end of the bond purchase, it also pledged to keep rates low next summer, while the Bank of Japan shows no signs of cutting back on its stimulus.
"It looks like the yellow warning lights are blinking for the global economic system," Citi badysts said. "However, with the ECB and BoJ pumping liquidity and keeping rates lower for longer, the chances of a systemic event are low."
Before Friday's meeting of oil producers in Vienna, Saudi Arabia tries to convince its OPEC colleagues of the need to increase oil production, according to sources familiar with the talks. Iran said on Thursday it could win a small increase in production, which could pave the way for an agreement.
Brent LCOc1 futures were down 43 cents at $ 74.31 a barrel, while US crude CLc1 was down 23 cents at $ 65.48.
Report by Wayne Cole; Edition of Shri Navaratnam and Eric Meijer