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Searchers in Indonesia raced Tuesday to rescue dozens of people still believed trapped a day after the collapse of an Islamic school building that has already left three dead, authorities said.Tearful families desperate for news of their loved ones crowded around the flattened multi-storey building, as rescuers navigated a maze of concrete rubble in the town of Sidoarjo, located on Indonesia’s main island of Java.The building suddenly gave way on Monday as students were gathered for afternoon prayers, said local reports, citing a witness.Late Tuesday, an AFP journalist in the area felt tremors after the US Geological Survey said a magnitude 6.0 earthquake struck off the coast nearby.There were no immediate reports of damages and it was not immediately clear whether the quake affected the rescue operation.Imron, a father of one of the missing people, told local broadcaster Metro TV from near the site that he was waiting for his child to be rescued.”We are still waiting patiently. Hopefully, there is a miracle and my child will soon be evacuated,” said Imron, who only gave one name.Local rescue agency head Nanang Sigit said in a statement that the number of people affected was 100, revising down an earlier figure of 102 due to double-counting.Three people were killed, including two who succumbed to their injuries in hospital.As of Tuesday, 11 people had been rescued from the rubble, Nanang said. The national search and rescue agency said those rescued were between 13 and 19 years old.Nanang told reporters that rescuers had detected signs of life beneath the debris.”We used a camera and were able to detect six victims who showed signs of life,” he said.”When they saw the light from the search camera, they were moving their legs.”National Disaster Mitigation Agency (BNPB) spokesman Abdul Muhari said earlier Tuesday 38 people were unaccounted for.Authorities have not provided a fresh update on the number of missing.National Search and Rescue Agency head Mohammad Syafii said earlier Tuesday that rescuers were working urgently to save those still believed to be trapped, but warned that the rubble was unstable, with concrete pillars piled precariously atop one another.Heavy equipment such as cranes and excavators could speed up the removal of concrete to ease access, Syafii said.”However, moving the concrete can actually threaten the lives of survivors who may still be trapped.”- Structural failure – Local media reports quoted a school official as saying construction work had been ongoing for the past nine months.The building collapsed after its foundation pillars failed to support the weight of new construction on the fourth floor of the school, according to BNBP spokesman Abdul Muhari.He called for stricter safety standards and urged the public and building managers to oversee construction processes more carefully to prevent similar incidents.Lax construction standards have raised widespread concerns about building safety in Indonesia, where it is common to leave structures — particularly houses — partially completed, allowing owners to add extra floors later when their budgets permit.Earlier this month, at least three people were killed and dozens injured when a building hosting a prayer recital collapsed in West Java.In 2018, seven teenagers rehearsing for a musical show were killed in Cirebon, east of Jakarta, when the building they were in collapsed.That same year, at least 75 people were injured when the mezzanine floor at Indonesia’s stock exchange building in Jakarta collapsed into the lobby.

US stock markets edged lower and gold retreated from a record high on Tuesday as traders steeled themselves for a possible US government shutdown.A White House meeting Monday with congressional leaders ended without a breakthrough, raising the odds of a shutdown starting at midnight on Tuesday, Washington time (0400 GMT Wednesday).While shutdowns are not usually painful in investor terms, markets remained cautious, analysts said.”Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the short duration of most incidents has little impact on company profits,” said Neil Wilson, investor strategist at Saxo.However, Wilson warned: “It could be different this time. Deep political divisions could see this drag on. A longer shutdown could have serious consequences for stocks.”He pointed to the White House threatening mass firings while recent changes to economic policy added to uncertainty and raised the prospect of a potential recession.- Gold price surges -Gold, a safe haven investment in times of uncertainty, reached yet another peak above $3,871 an ounce before falling later in the day.Speculation is growing that it could soon hit $4,000, having piled on almost 50 percent since the turn of the year.”The longer-term case is still supportive of further increases in the gold price,” said Kathleen Brooks, research director at XTB trading platform.”Dollar weakness, rising inflation expectations and the prospect of Fed rate cuts are all driving this gold rally.”There are concerns that a shutdown could delay this week’s release of government statistics on the labour market, including non-farm payrolls, which could provide clues about the Federal Reserve’s next move on interest rates.Recent indicators have supported investor expectations that the US central bank will cut borrowing costs twice more this year after reducing them this month as the labour market softens.”A delay to the release of the Non-Farm Payrolls report this week could trigger some volatility as this report was considered the last piece of the puzzle before the October Fed rate cut,” Brooks said.”However,” she added, “we do not think that it will derail a rate cut next month.”Oil prices dropped further on fears of a glut amid talk of OPEC+ hiking output again when officials meet on Sunday.Trump’s Gaza peace plan was also weighing on prices, analysts said.Europe’s leading indices rose.European Central Bank chief Christine Lagarde said Tuesday US tariffs had not hit the eurozone as badly as feared, but warned: “New trade and geopolitical shocks will remain a constant feature of our environment.”- Key figures at around 1530 GMT -New York – Dow: DOWN 0.4 percent at 46,138.55 pointsNew York – S&P 500: DOWN 0.3 percent at 6,664.63New York – Nasdaq: DOWN 0.3 percent at 22,520.21London – FTSE 100: UP 0.5 percent at 9,350.43 (close)Paris – CAC 40: UP 0.2 percent at 7,895.94 (close)Frankfurt – DAX: UP 0.6 percent at 23,880.72 (close)Tokyo – Nikkei 225: DOWN 0.3 percent at 44,932.63 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,855.56 (close)Shanghai – Composite: UP 0.5 percent at 3,882.78 (close)Euro/dollar: UP at $1.1730 from $1.1725 on MondayPound/dollar: UP at $1.3445 from $1.3434Dollar/yen: DOWN at 147.97 yen from 148.68 yenEuro/pound: DOWN at 87.24 pence from 87.28 penceBrent North Sea Crude: DOWN 1.6 percent at $66.01 per barrelWest Texas Intermediate: DOWN 1.6 percent at $62.43 per barrel

US stock markets edged lower and gold retreated from a record high on Tuesday as traders steeled themselves for a possible US government shutdown.Congressional leaders met President Donald Trump Monday to seek a breakthrough before a midnight Tuesday deadline, but top Senate Democrat Chuck Schumer told reporters afterwards that “large differences” remained.Vice President JD Vance accused the Democrats of putting “a gun to the American people’s head” with their funding demands, adding: “I think we’re headed to a shutdown because the Democrats won’t do the right thing.”While shutdowns are not usually painful, markets remained cautious, analysts said.”Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the short duration of most incidents has little impact on company profits,” said Neil Wilson, investor strategist at Saxo.However, Wilson warned: “It could be different this time. Deep political divisions could see this drag on. A longer shutdown could have serious consequences for stocks.”He pointed to the White House threatening mass firings while recent changes to economic policy added to uncertainty and raised the prospect of a potential recession.In New York, the broad-based S&P 500 index and the tech-heavy Nasdaq fell in opening deals, though the losses were limited, while the Dow was flat.Paris was down while London and Frankfurt were up in afternoon deals. Asia’s major indexes closed mixed.Gold, a safe haven investment in times of uncertainty, reached yet another peak above $3,871 an ounce before falling later in the day.Speculation is growing that it could soon hit $4,000, having piled on almost 50 percent since the turn of the year.The dollar pared back gains.”The longer-term case is still supportive of further increases in the gold price,” said Kathleen Brooks, research director at XTB trading platform.”Dollar weakness, rising inflation expectations and the prospect of Fed rate cuts are all driving this gold rally.”There are concerns that a shutdown could delay this week’s release of government statistics on the labour market, including non-farm payrolls, which could provide clues about the Federal Reserve’s next move on interest rates.Recent indicators have supported investor expectations that the US central bank will cut borrowing costs twice more this year after reducing them this month as the labour market softens.”A delay to the release of the Non-Farm Payrolls report this week could trigger some volatility as this report was considered the last piece of the puzzle before the October Fed rate cut,” Brooks said.”However,” she added, “we do not think that it will derail a rate cut next month.”Among individual companies, Spotify shares fell three percent after co-founder Daniel Ek announced he would step down as CEO of the music streaming giant and hand day-to-day management to two lieutenants.Oil prices, meanwhile, dropped further on fears of a glut amid talk of OPEC+ hiking output again when officials meet on Sunday.Trump’s Gaza peace plan was also weighing on prices, analysts said.- Key figures at around 1330 GMT -New York – Dow: FLAT at 46,301.97 pointsNew York – S&P 500: DOWN 0.1 percent at 6,653.52New York – Nasdaq: UP 0.2 percent at 22,548.50London – FTSE 100: UP 0.4 at 9,337.94Paris – CAC 40: DOWN 0.2 percent at 7,868.31Frankfurt – DAX: UP 0.3 percent at 23,809.82Tokyo – Nikkei 225: DOWN 0.3 percent at 44,932.63 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,855.56 (close)Shanghai – Composite: UP 0.5 percent at 3,882.78 (close)Euro/dollar: UP at $1.1729 from $1.1725 on MondayPound/dollar: DOWN at $1.3426 from $1.3434Dollar/yen: DOWN at 147.95 yen from 148.68 yenEuro/pound: UP at 87.35 pence from 87.28 penceBrent North Sea Crude: DOWN 1.3 percent at $66.20 per barrelWest Texas Intermediate: DOWN 1.3 percent at $62.63 per barrel

The United Nations called on Afghanistan’s Taliban authorities Monday to immediately restore internet and telecommunications in the country, 24 hours after a nationwide blackout was imposed.The government began shutting down high-speed internet connections to some provinces earlier this month to prevent “vice”, on the orders of shadowy supreme leader Hibatullah Akhundzada.Mobile phone signal and internet service weakened on Monday night until connectivity was less than one percent of ordinary levels.Afghans are unable to contact each other, online businesses and the banking systems have frozen, and diaspoara abroad cannot send crucial remittances to family.All flights were cancelled at Kabul airport on Tuesday, AFP journalists saw.”The cut in access has left Afghanistan almost completely cut off from the outside world, and risks inflicting significant harm on the Afghan people, including by threatening economic stability and exacerbating one of the world’s worst humanitarian crises,” the UN Assistance Mission in Afghanistan (UNAMA) said in a statement.”The current blackout also constitutes a further restriction on access to information and freedom of expression in Afghanistan,” it added.It is the first time since the Taliban government won their insurgency in 2021 and imposed a strict version of Islamic law that communications have been shut down in the country.”We are blind without phones and internet,” said 42-year-old shopkeeper Najibullah in Kabul.”All our business relies on mobiles. The deliveries are with mobiles. It’s like a holiday, everyone is at home. The market is totally frozen.”The telecommunications ministry refused to let journalists enter the building in Kabul on Tuesday.Minutes before the shutdown on Monday evening, a government official warned AFP that the fibre optic network would be cut, and affect mobile phone services.”Eight to nine thousand telecommunications pillars” would be shut down, he said, adding that the blackout would last “until further notice”.”There isn’t any other way or system to communicate… the banking sector, customs, everything across the country will be affected,” said the official, who asked not to be named.- Radio communications -Diplomatic sources told AFP on Tuesday that mobile networks were mostly shut down.A UN source meanwhile said “operations are severely impacted, falling back to radio communications and limited satellite links”.Telephone services are often routed over the internet, sharing the same fibre optic lines, especially in countries with limited telecoms infrastructure. Over the past weeks, internet connections have been extremely slow or intermittent.On September 16, Balkh provincial spokesman Attaullah Zaid said the ban had come from the Taliban leader’s orders.”This measure was taken to prevent vice, and alternative options will be put in place across the country to meet connectivity needs,” he wrote on social media.At the time, AFP correspondents reported the same restrictions in the northern provinces of Badakhshan and Takhar, as well as in Kandahar, Helmand, Nangarhar and Uruzgan in the south.The Taliban leader reportedly ignored warnings from some officials this month about the economic fallout of cutting the internet and ordered authorities to press ahead with a nationwide ban.Netblocks, a watchdog organisation that monitors cybersecurity and internet governance, said the blackout “appears consistent with the intentional disconnection of service”.On Tuesday, it said connectivity had flatlined below one percent, with no restoration of service observed.In 2024, Kabul had touted the 9,350-kilometre (5,800-mile) fibre optic network — largely built by former US-backed governments — as a “priority” to bring the country closer to the rest of the world and lift it out of poverty.

Gold prices hit another record high, the dollar dropped and stock markets traded mixed Tuesday as traders prepared for a possible US government shutdown that could disrupt the release of key economic data.Congressional Republican and Democratic leaders met President Donald Trump Monday in a bid to find a breakthrough before a midnight Tuesday deadline, but top Senate Democrat Chuck Schumer told reporters afterwards that “large differences” remained.Vice President JD Vance accused the Democrats of putting “a gun to the American people’s head” with their funding demands, adding that “I think we’re headed to a shutdown because the Democrats won’t do the right thing”.While shutdowns are not usually painful, Neil Wilson at Saxo markets remained cautious.”Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the short duration of most incidents has little impact on company profits. The average length of shutdowns is eight days,” he wrote.However, Wilson warned: “It could be different this time. Deep political divisions could see this drag on. A longer shutdown could have serious consequences for stocks. In the 35-day shutdown of 2018-2019 the S&P 500 fell 14 percent.”He pointed to the White House threatening mass firings, extending a recent widespread federal cull, while recent changes to economic policy added to uncertainty and raised the prospect of a potential recession.The prospect of a shutdown and expectations for rate cuts weighed on the dollar, as lower rates make the currency less attractive to investors.Stock markets in Europe fluctuated in midday deals while Asia’s major indexes closed mixed.Gold, a safe haven investment in times of uncertainty, reached yet another peak above $3,871 an ounce.Speculation is growing that it could soon hit $4,000, having piled on almost 50 percent since the turn of the year.”In trading rooms, gold is no longer just a hedge; it’s become the star performer, the undisputed heavyweight,” said SPI Asset Management’s Stephen Innes.”Every desk is watching because when gold is surging, it tends to reveal more about political and policy anxiety than about jewelry demand.”There are concerns that a shutdown could delay this week’s release of government statistics on the labour market.Investors are awaiting the release this week of data on job openings, private hiring and non-farm payrolls, all of which could provide clues about the Federal Reserve’s next move on interest rates.Recent indicators have supported investor expectations that the US central bank will cut borrowing costs twice more this year, having done so this month for the first time since December.Forecasters predict this week’s figures will show the labour market continuing to slow, giving Fed officials room to loosen monetary policy.Oil prices, meanwhile, extended Monday’s three-percent plunge on fears about a glut amid talk of OPEC+ hiking output again when officials meet on Sunday.Trump’s Gaza peace plan was also “weighing on crude”, said Joshua Mahony, chief market analyst at traders Scope Markets.- Key figures at around 1045 GMT -London – FTSE 100: FLAT at 9,302.25 pointsParis – CAC 40: DOWN 0.4 percent at 7,853.55Frankfurt – DAX: UP 0.1 percent at 23,771.00Tokyo – Nikkei 225: DOWN 0.3 percent at 44,932.63 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,855.56 (close)Shanghai – Composite: UP 0.5 percent at 3,882.78 (close)New York – Dow: UP 0.2 percent at 46,316.07 (close)Euro/dollar: UP at $1.1742 from $1.1725 on MondayPound/dollar: UP at $1.3439 from $1.3434Dollar/yen: DOWN at 147.99 yen from 148.68 yenEuro/pound: UP at 87.37 pence from 87.28 penceBrent North Sea Crude: DOWN 0.7 percent at $67.53 per barrelWest Texas Intermediate: DOWN 0.8 percent at $62.95 per barrel

Gold hit another record Tuesday, while equity markets were mixed as traders prepared for a possible US government shutdown that could affect the release of key economic data, though hopes for more Federal Reserve interest rate cuts provided support.A string of closely watched indicators has recently supported investor expectations that the US central bank will lower borrowing costs twice more this year, having done so this month for the first time since December.And this week has readings on the labour market lined up — on job openings, private hiring and non-farm payrolls — with forecasters predicting they will show the labour market continuing to slow, giving Fed officials room to loosen monetary policy.However, there are concerns that the failure of Republicans and Democrats to agree to keep funding the government could mean some figures could be postponed.Congressional leaders from both sides met President Donald Trump Monday in a bid to find a breakthrough before a midnight Tuesday deadline, but top Senate Democrat Chuck Schumer told reporters afterwards that “large differences” remained.Vice President JD Vance accused the Democrats of putting “a gun to the American people’s head” with their funding demands, adding that “I think we’re headed to a shutdown because the Democrats won’t do the right thing”.While shutdowns are not usually painful, Neil Wilson at Saxo markets remained cautious.”Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the short duration of most incidents has little impact on company profits. The average length of shutdowns is eight days,” he wrote.However, he warned: “It could be different this time.”Deep political divisions could see this drag on. A longer shutdown could have serious consequences for stocks. In the 35-day shutdown of 2018-2019 the S&P 500 fell 14 percent.”He also pointed to the White House threatening mass firings, extending a recent widespread federal cull, while recent changes to economic policy added to uncertainty and raised the prospect of a potential recession.Stock markets in Asia began the day by extending Monday’s gains but some struggled to maintain momentum.Shanghai rose even as data showed Chinese factory activity contracted for the sixth month in a row, while Hong Kong, Taipei, Singapore, Mumbai and Wellington also climbed.Tokyo, Sydney, Seoul, Manila, Bangkok and Jakarta fell along with London, Paris and Frankfurt.The prospect of a shutdown and expectations for rate cuts weighed on the dollar and helped push gold to yet another peak above $3,871.Speculation is growing that it could soon hit $4,000, having piled on almost 50 percent since the turn of the year.”In trading rooms, gold is no longer just a hedge; it’s become the star performer, the undisputed heavyweight,” said SPI Asset Management’s Stephen Innes.”Every desk is watching because when gold is surging, it tends to reveal more about political and policy anxiety than about jewelry demand.”In company news, the international spin-off of China’s biggest miner Zijin Mining Group rocketed higher on its Hong Kong debut.Zijin Gold International surged almost 70 percent, having raised more than $3 billion in an initial public offering that came as gold companies see healthy rallies on the back of increased demand for the precious metal.Oil prices extended Monday’s three percent plunge on fears about a glut amid talk of OPEC+ hiking output again in November, when officials meet on Sunday.- Key figures at around 0810 GMT -Tokyo – Nikkei 225: DOWN 0.3 percent at 44,932.63 (close)Hong Kong – Hang Seng Index: UP 0.9 percent at 26,855.56 (close)Shanghai – Composite: UP 0.5 percent at 3,882.78 (close)London – FTSE 100: DOWN 0.2 percent at 9,285.10Euro/dollar: UP at $1.1740 from $1.1725 on MondayPound/dollar: UP at $1.3445 from $1.3434Dollar/yen: DOWN at 148.00 yen from 148.68 yenEuro/pound: UP at 87.33 pence from 87.28 penceWest Texas Intermediate: DOWN 1.1 percent at $62.75 per barrelBrent North Sea Crude: DOWN 1.0 percent at $67.30 per barrelNew York – Dow: UP 0.2 percent at 46,316.07 (close)

Afghanistan faced a second day without internet and mobile phone service on Tuesday, after Taliban authorities cut the fibre optic network.Taliban authorities began shutting down high speed internet connections to some provinces earlier in the month to prevent “vice”.On Monday night, mobile phone signal and internet service gradually weakened until connectivity was less than one percent of ordinary levels, according to internet watchdog NetBlocks.It is the first time since the Taliban government won their insurgency in 2021 and imposed a strict version of Islamic law that communications have been shut down in the country.”We are blind without phones and internet,” said 42-year-old shopkeeper Najibullah in Kabul.”All our business relies on mobiles. The deliveries are with mobiles. It’s like a holiday, everyone is at home. The market is totally frozen.”In the minutes before it happened, a government official warned AFP that fibre optic would be cut, affecting mobile phone services too.”Eight to nine thousand telecommunications pillars” would be shut down, he said, adding that the blackout would last “until further notice”.”There isn’t any other way or system to communicate… the banking sector, customs, everything across the country will be affected,” said the official who asked not to be named.Netblocks, a watchdog organisation that monitors cybersecurity and internet governance, said the blackout “appears consistent with the intentional disconnection of service”.AFP lost all contact with its bureau in the capital Kabul at around 5:45 pm (1315 GMT).”Because of the shutdown, I’m totally disconnected with my family in Kabul,” a 40-year-old Afghan living in Oman told AFP via text message, asking not to be named. “I don’t know whats happening, Im really worried.”Telephone services are often routed over the internet, sharing the same fibre lines, especially in countries with limited telecoms infrastructure. Over the past weeks, internet connections have been extremely slow or intermittent.On September 16, Balkh provincial spokesman Attaullah Zaid said fibre optic internet was completely banned in the northern province on the Taliban leader’s orders.”This measure was taken to prevent vice, and alternative options will be put in place across the country to meet connectivity needs,” he wrote on social media.At the time, AFP correspondents reported the same restrictions in the northern provinces of Badakhshan and Takhar, as well as in Kandahar, Helmand, Nangarhar and Uruzgan in the south.In 2024, Kabul had touted the 9,350-kilometre (5,800-mile) fibre optic network — largely built by former US-backed governments — as a “priority” to bring the country closer to the rest of the world and lift it out of poverty.

Equities rallied for a second day and gold hit another record Tuesday on growing Federal Reserve interest rate optimism, though traders were preparing for a possible US government shutdown that could affect the release of key economic data.A string of closely watched indicators has recently supported investor expectations that the US central bank will lower borrowing costs twice more this year, having done so this month for the first time since December.And this week has readings on the labour market lined up — on job openings, private hiring and non-farm payrolls — with forecasters predicting they will show the labour market continuing to slow, giving Fed officials room to loosen monetary policy.However, there are concerns that the failure of Republicans and Democrats to agree to keep funding the government could mean some figures could be postponed.Congressional leaders from both sides met President Trump Monday in a bid to find a breakthrough before a midnight Tuesday deadline, but top Senate Democrat Chuck Schumer told reporters afterwards that “large differences” remained.Vice President JD Vance accused the Democrats of putting “a gun to the American people’s head” with their funding demands, adding that “I think we’re headed to a shutdown because the Democrats won’t do the right thing”.While shutdowns are not usually painful, Neil Wilson at Saxo markets remained cautious.”Usually, markets ignore shutdowns — most last only a few days and investors seem to take a long-term view of the situation, and the short duration of most incidents has little impact on company profits. The average length of shutdowns is eight days,” he wrote.However, he warned: “It could be different this time.”Deep political divisions could see this drag on. A longer shutdown could have serious consequences for stocks. In the 35-day shutdown of 2018-2019 the S&P 500 fell 14 percent.”He also pointed to the White House threatening mass firings, extending a recent widespread federal cull, while recent changes to economic policy added to uncertainty and raised the prospect of a potential recession.Still, stock markets rose again in Asia.Hong Kong, Shanghai, Sydney, Taipei, Singapore, Manila and Wellington all climbed, though Tokyo, Jakarta and Seoul inched down.The prospect of a shutdown and expectations for rate cuts helped push gold to yet another peak just shy of $3,852, with speculation whirling that it could soon hit $4,000, having piled on almost 50 percent since the turn of the year.”In trading rooms, gold is no longer just a hedge; it’s become the star performer, the undisputed heavyweight,” said SPI Asset Management’s Stephen Innes. “Every desk is watching because when gold is surging, it tends to reveal more about political and policy anxiety than about jewelry demand.”In company news, the international spin-off of China’s biggest miner Zijin Mining Group rocketed higher on its Hong Kong debut.Zijin Gold International surged as much as 66 percent in early trade, having raised more than $3 billion in an initial public offering that came as gold companies see healthy rallies on the back of increased demand for the precious metal.Oil prices extended Monday’s three percent plunge on fears about a glut amid talk of OPEC+ hiking output again in November.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent at 45,023.48 (break)Hong Kong – Hang Seng Index: UP 0.3 percent at 26,694.73Shanghai – Composite: UP 0.3 percent at 3,874.54Euro/dollar: DOWN at $1.1721 from $1.1725 on MondayPound/dollar: DOWN at $1.3428 from $1.3434Dollar/yen: DOWN at 148.65 yen from 148.68 yenEuro/pound: UP at 87.30 pence from 87.28 penceWest Texas Intermediate: DOWN 0.6 percent at $63.09 per barrelBrent North Sea Crude: DOWN 0.5 percent at $67.62 per barrelNew York – Dow: UP 0.2 percent at 46,316.07 (close)London – FTSE 100: UP 0.2 percent at 9,299.84 (close)

Global stock markets mostly rose on Monday, shrugging off concerns about a looming US government shutdown as markets eyed key budget talks set for Monday afternoon.Following a mostly positive round of trading in Europe and Asia, Wall Street’s main indices finished modestly higher. US President Donald Trump was expected to meet with congressional leaders Monday afternoon.Unless US lawmakers agree to a temporary spending plan on Tuesday, many government operations will shut down on Wednesday, when the new fiscal year begins.”It is very much touch-and-go in terms of whether there will be a deal that averts a government shutdown,” said Briefing.com analyst Patrick O’Hare.”But for now the impact of a possible shutdown is concentrated more in the headlines than in the economy and the stock market,” he said.Trade Nation market analyst David Morrison noted that Wall Street’s so-called fear gauge, the VIX index, was little changed and down from last week.”Even with risks such as the potential US government shutdown and key labor market data later in the week, the decline in volatility reflects a market that is comfortable holding steady near record highs,” he said.A shutdown could, however, delay the release of statistics used by the Federal Reserve in helping decide interest rates.The Fed cut rates earlier this month — the first since December — and investors still see it as likely it will reduce them twice more this year.Data released last week showed the Fed’s preferred inflation measure rose in line with expectations in August, giving the bank room to cut rates again.Investors were looking to the monthly non-farm payroll report scheduled to come out on Friday to adjust their expectations on whether the Fed will cut at its next meeting at the end of October.The dollar dropped against main rivals, while oil prices fell more than three percent on expectations that OPEC+ will increase output, fanning concerns of a glut. Gold’s price on Monday hit an all-time peak above $3,830 an ounce over concerns about the possible government shutdown and on expectations for more rate cuts, which make the precious metal more attractive as an investment.”Geopolitical risks — from Europe and the Middle East to US-China frictions — are reinforcing gold’s role as a strategic hedge,” said City Index and FOREX.com analyst Fawad Razaqzada.On the corporate front, shares in video game giant Electronic Arts jumped 4.5 percent after it announced it would be acquired by a consortium led by Saudi Arabia’s Public Investment Fund for $55 billion.Shares in GSK climbed 2.2 percent in London afternoon trading after the British pharmaceutical giant unexpectedly announced that longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January.Lufthansa shares edged higher after it said it will cut 4,000 jobs, nearly four percent of the German airline giant’s workforce, after profits slumped in the face of mounting headwinds.- Key figures at around 2020 GMT -New York – Dow: UP 0.2 percent at 46,316.07 (close)New York – S&P 500: UP 0.3 percent at 6,661.21 (close)New York – Nasdaq: UP 0.5 percent at 22,591.15 (close)London – FTSE 100: UP 0.2 percent at 9,299.84 (close)Paris – CAC 40: UP 0.1 percent at 7,880.87 (close)Frankfurt – DAX: FLAT at 23,745.06 (close)Tokyo – Nikkei 225: DOWN 0.7 percent at 45,043.75 (close)Hong Kong – Hang Seng Index: UP 1.9 percent at 26,622.88 (close)Shanghai – Composite: UP 0.9 percent at 3,862.53 (close)Euro/dollar: UP at $1.1725 from $1.1703 on FridayPound/dollar: UP at $1.3434 from $1.3402Dollar/yen: DOWN at 148.68 yen from 149.49 yenEuro/pound: DOWN at 87.28 pence from 87.32 penceBrent North Sea Crude: DOWN 3.1 percent at $67.97 per barrelWest Texas Intermediate: DOWN 3.5 percent at $63.45 per barrelburs-jmb/sla

European and Asian stock markets largely gained Monday and gold hit a record high after US inflation figures met expectations, soothing concerns about President Donald Trump’s latest tariff salvo.Investors were keeping a wary eye on Washington, where lawmakers have failed to reach a funding compromise to keep the government running, which observers say could affect the release of key data.The dollar dropped against main rivals, while oil prices retreated on speculation that OPEC+ will increase output, fanning concerns of a glut. The drop followed last week’s rally on mounting tensions between NATO countries and oil producer Russia, increasing the possibility of fresh sanctions on Moscow. “US (stocks) futures are pointing to a higher open, on track to extend gains after markets closed on a positive note on Friday,” noted Victoria Scholar, head of investment at Interactive Investor. “Investors will be paying close attention to the latest nonfarm payrolls report on Friday for clues into the Fed’s next move.”All three main indices in New York ended in the green Friday, snapping three straight losses, following news that the Federal Reserve’s preferred gauge of inflation rose in line with expectations, giving the bank room to cut interest rates again.While the 2.7 percent reading on the August personal consumption expenditures (PCE) index was up from 2.6 percent in July and well above the Fed’s two percent target, policymakers are focusing on supporting the labour market after a string of weak jobs readings.The Fed’s rate cut earlier this month — the first since December — came as a closely watched guide indicated two more were in the pipeline before January.The news helped investors look past Trump’s announcement last week of 100 percent tariffs on pharmaceuticals set to kick in Wednesday, as well as for big-rig trucks, home renovation fixtures and furniture.Gold’s price on Monday hit an all-time peak just short of $3,820 an ounce over concerns about the possible government shutdown and on expectations for more rate cuts, which make the precious metal more attractive as an investment.On the corporate front, shares in GSK climbed 2.5 percent in London midday trading after the British pharmaceutical giant unexpectedly announced that longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January.Lufthansa meanwhile said it will cut 4,000 jobs, nearly four percent of the German airline giant’s workforce, after profits slumped in the face of mounting headwinds.Hong Kong led the gainers in Asia thanks to a surging share prices for Chinese tech giants including Alibaba.While Tokyo slipped overall, the finance arm of Sony soared more than 30 percent on its debut after being spun off by the tech titan to focus on its entertainment and image sensor business.- Key figures at around 1100 GMT -London – FTSE 100: UP 0.6 percent at 9,340.42 pointsParis – CAC 40: UP 0.1 percent at 7,878.46Frankfurt – DAX: UP 0.2 percent at 23,782.85Tokyo – Nikkei 225: DOWN 0.7 percent at 45,043.75 (close)Hong Kong – Hang Seng Index: UP 1.9 percent at 26,622.88 (close)Shanghai – Composite: UP 0.9 percent at 3,862.53 (close)New York – Dow: UP 0.7 percent at 46,247.29 (close)Euro/dollar: UP at $1.1721 from $1.1701 on FridayPound/dollar: UP at $1.3433 from $1.3405Dollar/yen: DOWN at 148.65 yen from 149.51 yenEuro/pound: DOWN at 87.25 pence from 87.30 penceBrent North Sea Crude: DOWN 1.7 percent at $68.00 per barrelWest Texas Intermediate: DOWN 1.9 percent at $64.47 per barrel