Stocks stutter as spotlight turns to Fed chief, oil under pressure

LONDON, Nov 8 - World stock markets stuttered on Wednesday, while the dollar continued its rebound, as traders waited to see if U.S. Federal Reserve chief Jerome Powell will push back against rate-cut talk when he speaks later in the day.

"I don't think the Fed will be any tighter than it is right now but it won't be quick to cut rates either," said Tim Graf, head of macro strategy for Europe at State Street Global Markets. MSCI's broadest index of Asia-Pacific shares slipped 0.3% and Japan's Nikkei 225 closed lower after Bank of Japan Governor Kazuo Ueda told parliament the central bank doesn't need to wait until real wages turn positive before exiting stimulus.Chinese authorities have asked Ping An Insurance Group to take a controlling stake in embattled Country Garden , the nation's biggest private property developer, four people familiar with the plan said.

Insurance stocks lost 0.7%, dragged by a 6.2% decline in Swiss Life Holding AG after the insurer's full-year outlook on real estate worried markets. WEAK OIL Brent crude fell to a fresh three-month low near $81 a barrel and was last down 0.7% , while U.S. crude futures tumbled 0.8% to touch a low around $76.51Two-year yields were last up 3 basis points at 4.91% .

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Bonds, stocks take breather after rate-repricing rallyKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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