FILE PHOTO: Passersby chat in front of an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan, September 30, 2024. REUTERS/Kim Kyung-Hoon/File PhotoLONDON : Global stocks rose on Monday, ahead of a week stacked with earnings from Wall Street's"Magnificent 7", while the yen sank after an election in Japan thrust the country into political turmoil, and oil slid as tensions in the Middle East ebbed.
U.S. stock index futures pointed to an upbeat start on Wall Street later, up 0.5-0.7 per cent, while Europe's STOXX 600 rose 0.4 per cent, as airline stocks drew strength from lower fuel prices. The"Magnificent Seven" are the largest U.S. companies by market value. The five set to report earnings this week are Google parent Alphabet, Microsoft, Facebook owner Meta, Apple and Amazon.
The party, with junior coalition partner Komeito, won 215 lower-house seats in Sunday's election, public broadcaster NHK reported, well short of the 233 needed for a majority. Nomura analyst Yusuke Miyairi also expects the Bank of Japan, which reviews policy on Thursday, will be more dovish and that will hurt the yen.Broader currency markets were steady, leaving the dollar on course for its largest monthly rise in 2-1/2 years as signs of strength in the U.S. economy and the prospect of a Donald Trump presidency have driven up U.S. yields.
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