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Fuelled in part by the success of TV hit “Shogun”, foreign studios are hungry for quality Japanese content and local creators are adaptingto meet demand.Fans of Japanese manga and anime cartoons have often criticised foreign adaptations that are unfaithful to the original material.But “Shogun”, based on the 1975 novel by Australian-British writer James Clavell, broke the mould when the period drama series — mostly in Japanese and hailed for its authenticity — won 18 Emmy awards in September. Other recent Japanese works have also become worldwide hits.Franco-US-Japanese show “Drops of God”, based on a manga of the same name, won best drama series at the International Emmy Awards in November.Netflix’s 2023 adaptation of the manga superhit “One Piece” — starring Mexican actor Inaki Godoy as the lead — was hailed by viewers and critics alike and will return for a second season.More adaptations of major manga and anime hits are in the works, including the superhero adventures of “My Hero Academia” and the ninja escapades of “Naruto”.”Demand from Western markets is clearly increasing,” said Kaori Ikeda, managing director at TIFFCOM, the content trade fair affiliated with the Tokyo International Film Festival.But Japanese companies lack “know-how” when it comes to things like negotiating rights, she told AFP.So TIFFCOM has organised Tokyo Story Market, a space to facilitate networking and meetings between international producers and Japanese publishers.- ‘Whitewashing’ -Foreign studios are also getting better at avoiding some of the pitfalls of the past, such as the 2017 film version of the manga “Ghost in the Shell” starring Scarlett Johansson.Critics accused the movie, whose main actors except Takeshi Kitano were all non-Japanese, of “whitewashing”.Similarly, the 2017 supernatural thriller “Death Note” was panned for veering too far from the original manga.”Manga authors are highly respected and fan communities are very vigilant,” said Klaus Zimmermann, producer of “Drops of God”.His adaptation takes some liberties, such as starring a French actor as one of the main characters, but Zimmermann insists it was developed in collaboration with the authors of the original manga.”It was about finding the spirit of the manga so as not to distort it,” he told AFP.Yuki Takamatsu, a rights negotiator at the manga’s publishing house Kodansha, said the process of adapting “Drops of God” was “amazing”.”Everyone was open to tackling those challenges together… At every step, everyone was understanding about how we should do it,” he said.Past failures were in part down to publishers struggling to communicate their wishes to foreign producers, who in turn lacked a proper understanding of manga and anime, Takamatsu said.”Back just 15, 20 years ago, most of the enquiries we received from those big studios were like, hey, I know ‘Dragon Ball’, do you have ‘Dragon Ball’ IP?” Takamatsu told AFP.”But nowadays, especially since Covid, the producers in their 30s, 40s, they watch anime together with their kids on Netflix or Amazon” and then reach out, he said.- Japanese TV goes global -Japanese broadcasters have also become “better and better (at) presenting and marketing their content” abroad, said Makito Sugiyama, executive director at the Broadcast Program Export Association of Japan (BEAJ).This includes their participation at global events such as MIPCOM in Cannes, an annual trade show for the television industry, Sugiyama said.Japanese broadcasters have long had success selling show concepts abroad, like the one for “America’s Funniest Home Videos”, known in Britain as “You’ve Been Framed”.Now, some Japanese dramas are also finding a wider echo abroad.Nippon TV’s original drama “Mother” became a hit thanks in part to its Turkish remake, and has been broadcast in around 50 countries.Western viewers have overcome their initial reluctance to watch series with Asian actors, believes Masaru Akiyama, chief executive of the BEAJ.”They have got used to it, they don’t care anymore. They want to see, they want to feel the stories.””Shogun” was “a game changer for Japan,” he added, and Ikeda agrees.”That a samurai story with such attention to historical detail can become mainstream entertainment is proof of the potential” of Japanese content, she said.

Global stocks mostly pushed higher on Tuesday in thin Christmas Eve trade, as investors waited to see if a so-called Santa Claus rally would sweep the market.”Santa Claus comes tonight, but if stock market participants are lucky he will start sprinkling some gifts today, which marks the official start to the ‘Santa Claus rally’ period,” said Briefing.com analyst Patrick O’Hare.US stock markets have traditionally fared well in the last five trading days of the year and the first two in the new year, with experts advancing a number of possible reasons as to why — including the festive holiday mood and purchasing ahead of the end of the tax year.Wall Street opened modestly higher on the first day of this seven-day stretch and picked up speed as the session progressed. The S&P 500 finished up 1.1 percent.While gains were broad-based, some of the biggest positive moves came from tech heavyweights like Facebook parent Meta, Netflix and Amazon, all of which won more than one percent.”There’s a pretty fair amount of enthusiasm for momentum” stocks, said Jack Ablin, of Cresset Capital, who also noted that low trading volumes amplified the trend.In Europe, Paris’s CAC 40 closed higher in a pre-holiday short session while Frankfurt was closed all day.London also closed in the green, despite a week clouded by lackluster economic data that is “stoking concerns about the UK’s slowing momentum heading into the new year,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.Hong Kong and Shanghai stock markets closed up over one percent, as China announced fresh fiscal measures to boost its ailing economy. On Tuesday, state media reported that China will raise its deficit in order to boost spending next year, as the world’s second-largest economy battles sluggish domestic consumption, a property crisis and soaring government debt.Among individual companies, Honda shares closed more than 12 percent higher after the Japanese auto giant announced a buyback of up to 1.1 trillion yen ($7 billion), as it enters merger talks with struggling rival Nissan.The talks between Honda and Nissan could create the world’s third-largest automaker, expanding development of EVs and self-driving tech.Honda’s CEO insisted it was not a bailout for Nissan, which announced thousands of job cuts last month and reported a 93 percent plunge in first-half net profit.- Key figures around 1850 GMT -New York – Dow: UP 0.9 percent at 43,297.03 (close)New York – S&P 500: UP 1.1 percent at 6,040.04 (close)New York – Nasdaq Composite: UP 1.4 percent at 20,031.13 (close)London – FTSE 100: UP 0.4 percent at 8,136.99 (close)Paris – CAC 40: UP 0.1 percent at 7,282.69 (close)Frankfurt – DAX: ClosedTokyo – Nikkei 225: DOWN 0.3 percent at 39,036.85 (close)Hong Kong – Hang Seng Index: UP 1.1 percent at 20,098.29 (close)Shanghai – Composite: UP 1.3 percent at 3,393.53 (close)Euro/dollar: DOWN at $1.0389 from $1.0405 on MondayPound/dollar: DOWN at $1.2531 from $1.2536Dollar/yen: UP at 157.31 yen from 157.17 yenEuro/pound: DOWN at 82.89 pence from 83.00 penceWest Texas Intermediate: UP 1.2 percent at $70.10 per barrelBrent North Sea Crude: UP 1.3 percent at $73.58 per barrelburs-jmb/nro

Global stocks were mostly higher on Tuesday boosted by a tech rally on Wall Street, but gains remained modest in thin Christmas Eve trade.Overnight, US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally would materialise.”The US stock market closed with a mixed bag of results yesterday, but the gift under the tree was a tech-driven rally that lit up the broader market,” said Matt Britzman, senior equity analyst at Hargreaves Lansdown.Analysts said it could help boost semiconductor-related shares, including in Tokyo, although the key Nikkei index closed down 0.3 percent.Several exchanges, including Hong Kong, London and Paris, close early on Tuesday due to the holidays.Paris’s CAC 40 gained while Frankfurt was closed all day.London also rose, despite a week clouded by lacklustre economic data that is “stoking concerns about the UK’s slowing momentum heading into the new year,” Britzman said.Hong Kong and Shanghai stock markets closed up over one percent, as China announced fresh fiscal measures to boost its ailing economy. On Tuesday, state media reported that China will raise its deficit in order to boost spending next year, as the world’s second-largest economy battles sluggish domestic consumption, a property crisis and soaring government debt.In company news, Honda shares closed more than 12 percent higher after the Japanese auto giant announced a buyback of up to 1.1 trillion yen ($7 billion), as it enters merger talks with struggling rival Nissan.The talks on collaboration between Honda and Nissan would create the world’s third-largest automaker, expanding development of EVs and self-driving tech.Honda’s CEO insisted it was not a bailout for Nissan, which announced thousands of job cuts last month and reported a 93 percent plunge in first-half net profit.- Key figures around 1100 GMT -London – FTSE 100: UP 0.5 percent at 8,142.92 pointsParis – CAC 40: UP 0.5 at 7,311.73Frankfurt – DAX: ClosedTokyo – Nikkei 225: DOWN 0.3 percent at 39,036.85 (close)Hong Kong – Hang Seng Index: UP 1.1 percent at 20,098.29 (close)Shanghai – Composite: UP 1.3 percent at 3,393.53 (close)New York – Dow: UP 0.2 percent at 42,906.95 (close)Euro/dollar: DOWN at $1.0395 from $1.0408 on MondayPound/dollar: UP at $1.2536 from $1.2531Dollar/yen: DOWN at 157.08 yen from 157.14 yenEuro/pound: DOWN at 82.89 pence from 83.03 penceWest Texas Intermediate: UP 0.8 percent at $69.79 per barrelBrent North Sea Crude: UP 0.8 percent at $73.21 per barrel

Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in thin Christmas Eve trade.Overnight, European stocks bounced around while US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally would materialise.US “stocks didn’t really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day”, said Steve Sosnick of Interactive Brokers.Analysts said that could help boost semiconductor-related shares, including in Tokyo, although the key Nikkei index closed down 0.3 percent.Hong Kong closed up 1.1 percent and Shanghai gained 1.3 percent. Singapore rose 0.5 percent and Bangkok was up 0.7 percent, while Seoul and Taipei were flat.Hang Seng Bank said in a note that Hong Kong stocks were “consolidating before the long holiday”. It was among several exchanges, including Sydney, closing early on Tuesday.”This is the time of the year when there’s a lot of noise and little to no signal in price action,” said Kyle Rodda, senior market analyst at Capital.Com, cited by Bloomberg News.”There’s a high chance of a pretty slow day for the region and an uneventful rest of the week as a high proportion of the markets log off for the holidays.”Despite the gains, Asian stocks faced downward pressure “as the Bank of Japan warned against foreign exchange speculation and Australia cut its iron ore price forecast”, Hang Seng Bank said.Honda shares closed more than 12 percent higher after the Japanese auto giant announced a buyback of up to 1.1 trillion yen ($7 billion), as it enters merger talks with struggling rival Nissan.The talks on collaboration between Honda and Nissan would create the world’s third-largest automaker, expanding development of EVs and self-driving tech.Honda’s CEO insisted it was not a bailout for Nissan, which announced thousands of job cuts last month and reported a 93 percent plunge in first-half net profit.- Key figures around 0700 GMT -Tokyo – Nikkei 225: DOWN 0.3 percent at 39,036.85 (close)Hong Kong – Hang Seng Index: UP 1.1 percent at 20,098.29 (close)Shanghai – Composite: UP 1.3 percent at 3,393.53Euro/dollar: DOWN at $1.0396 from $1.0408 on MondayPound/dollar: UP at $1.2536 from $1.2531Dollar/yen: DOWN at 157.05 yen from 157.14 yenEuro/pound: DOWN at 82.94 pence from 83.03 penceWest Texas Intermediate: UP 0.4 percent at $69.53 per barrelBrent North Sea Crude: UP 0.4 percent at $72.95 per barrelNew York – Dow: UP 0.2 percent at 42,906.95 (close)London – FTSE 100: UP 0.2 percent at 8,102.72 (close)

A US government panel failed to reach a consensus on whether US Steel’s acquisition by Nippon Steel threatens Washington’s national security, shifting the decision to the White House, the Japanese company said late Monday.The deadlock by the Committee on Foreign Investment in the United States (CFIUS) means the controversial $14.9 billion transaction will now be referred to President Joe Biden, who is legally required to act within a 15-day deadline.”Nippon Steel has been informed by CFIUS that the Committee has referred this matter to President Biden after failing to reach a consensus on our transaction with US Steel,” Nippon said. Biden has criticized the deal for months, joining a loud consensus of US power players who have slammed the transaction, including President-elect Donald Trump and the incoming vice president, JD Vance. The deal became ensnared in the 2024 presidential campaign when Pennsylvania emerged as a critical swing state and leaders of the United Steelworkers (USW) union loudly opposed the transaction. Nippon officials had hoped to have more success after the election, but there have been few signs of change in the dynamics. US media have reported that the killing of the deal could prompt litigation from the steel companies. There are also questions about diplomatic fallout from derailing a transaction championed by Japan, a close US ally.Nippon said the deal should go through.”During the 15-day period that the President has to make a final decision, we urge him to reflect on the great lengths that we have gone to address any national security concerns that have been raised and the significant commitments we have made to grow US Steel, protect American jobs, and strengthen the entire American steel industry, which will enhance American national security,” Nippon said.”We are confident that our transaction should and will be approved if it is fairly evaluated on its merits.”US Steel also called on Biden to approve the deal, noting that Nippon is based in “one of the United States’ closest allies” and describing the transaction as a means to “combat the competitive threat from China.”The Nippon deal is “the best way, by far, to ensure that US Steel, including its employees, communities, and customers, will thrive well into the future,”  US Steel said. Nippon has argued that the transaction would pump much-needed capital to update plants in Pennsylvania’s Mon Valley, the oldest of which dates to 1875. The company has described the transaction as a lifeline to Pennsylvania’s much-diminished steel industry, vowing to keep US Steel’s headquarters in Pittsburgh. But the USW union has characterized Nippon’s commitments as untrustworthy, while slamming US Steel executives as being motivated by the huge windfalls they would likely make from the sale.”The proposed US Steel-Nippon transaction represents nothing more than corporate greed, selling out American workers and jeopardizing the long-term future of the domestic steel industry and our national security,” USW President David McCall said Monday as he urged Biden to block the transaction.

US President-elect Donald Trump has threatened to demand control of the Panama Canal be returned to Washington, complaining of “unfair” treatment of American ships and hinting at China’s growing influence.Here are five things to know about the waterway connecting the Pacific and Atlantic oceans.- Panamanian operated -The 80-kilometer (50-mile) interoceanic waterway is operated by the Panama Canal Authority, an autonomous public entity.The Central American nation’s constitution describes the canal as an “inalienable heritage of the Panamanian nation” that is open to vessels “of all nations.”The United States is its main user, accounting for 74 percent of cargo, followed by China with 21 percent.Panama’s government sets the price of tolls based on canal needs and international demand. Rates depends on a vessel’s cargo capacity.”The canal has no direct or indirect control from China, nor the European Union, nor the United States or any other power,” Panama’s President Jose Raul Mulino said Sunday as he dismissed Trump’s threat.All vessels, including warships and submarines, are given a Panama Canal pilot.- National history -Panama’s independence from Colombia in 1903 is linked to the canal.Following the failure of French count Ferdinand de Lesseps to open a channel through the isthmus, the United States promoted the separation of the province of Panama and signed a treaty with the nascent country that ceded land and water in perpetuity to build it.After 10 years of construction and an investment of $380 million, the canal was inaugurated on August 15, 1914 with the transit of the steamer Ancon.Some 25,000 deaths from disease and accidents were recorded during its construction.The canal “is part of our history” and “an irreversible achievement,” Mulino said.- American enclave -Washington’s establishment of a “Canal Zone” — an enclave with its own military bases, police and justice system — gave rise to decades of demands by Panamanians to reunify the country and take control of the waterway.In 1977, Panamanian nationalist leader Omar Torrijos and US president Jimmy Carter signed treaties that allowed the canal to be transferred to Panama on December 31, 1999.”Any attempt to reverse this historic achievement not only dishonors our struggle, but is also an insult to the memory of those who made it possible,” former president Martin Torrijos, the general’s son, wrote on social media.Under the treaties, supported by more than 40 countries, the canal is deemed neutral and any ship can pass through.The only conditions are that ships must comply with safety regulations and military vessels from countries at war must not pass through at the same time.- System of locks -Unlike Egypt’s Suez Canal, the Panama Canal operates using freshwater stored in two reservoirs.A drought led to a reduction in the number of transits in 2023, but the situation has since normalized.The canal, which has a system of locks to raise and lower vessels, transformed global shipping.Crafts can travel between the two oceans in about eight hours without having to sail all the way around Cape Horn, the southern tip of the Americas. The canal allows a ship to shave 20,300 kilometers off a journey from New York to San Francisco.- Cash cow -Five percent of world maritime trade passes through the canal, which connects more than 1,900 ports in 170 countries.By the early 21st century, it had become too small, so it was expanded between 2009 and 2016.Today, the canal can accommodate ships up to 366 meters long and 49 meters wide (1,200 feet by 161 feet) — equivalent to almost four football pitches.It generates six percent of Panama’s national economic output and since 2000 has pumped more than $28 billion into state coffers.More than 11,200 ships transited the canal in the last fiscal year carrying 423 million tons of cargo.

European stocks bounced around Monday while US equities shook off early weakness to push higher as investors waited to see if a so-called Santa Claus rally sweeps over the market.Global stock markets had a tumultuous time last week, spiraling lower after the US Federal Reserve signaled fewer interest rate cuts than had been expected for 2025.But it ended on a positive note as traders welcomed below-forecast US inflation data that raised hopes about the health of the world’s biggest economy.That helped Asian markets move higher on Monday, but the positive trend faltered in Europe and stumbled initially in the United States.”Another up leg in US yields not only put pressure on stock indices but also drove the greenback higher,” said IG analyst Axel Rudolph.But after a sluggish start, US stocks rose progressively in a quiet session with analysts pointing to low pre-holiday trading volumes.”Stocks didn’t really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day,” said Steve Sosnick of Interactive Brokers.Analysts view elevated Treasury bond yields as a threat to year-end gains in an historically strong period of the calendar.Known as a Santa Claus rally, there are various explanations for the phenomenon including seasonal optimism and end-of-year tax considerations. But there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation.”The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation,” said Ronald Temple, chief market strategist at Lazard. “However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in.”In Europe, the FTSE 100 moved higher as the pound slid following data that showed that the UK economy stagnated in the third quarter, revised down from initial estimates of 0.1 percent growth. Official data out of Spain on Monday showed that the Spanish economy grew 0.8 percent in the third quarter as domestic consumption and exports increased, comfortably outstripping the European Union average.In company news, shares in crisis-hit German auto giant Volkswagen lost more than three percent on the back of news Friday that it plans to axe 35,000 jobs by 2030 in a drastic cost-cutting plan.Shares in Japanese auto giant Honda rose over three percent after it announced Monday an agreement to launch merger talks with struggling compatriot Nissan that could create the world’s third largest automaker.- Key figures around 2130 GMT -New York – Dow: UP 0.2 percent at 42,906.95 (close)New York – S&P 500: UP 0.7 percent at 5,974.89 (close)New York – Nasdaq Composite: UP 1.0 percent at 19,764.89 (close)London – FTSE 100: UP 0.2 percent at 8,102.72 (close)Paris – CAC 40: FLAT at 7,272.32 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,848.77 (close)Tokyo – Nikkei 225: UP 1.2 percent at 39,161.34 (close)Hong Kong – Hang Seng Index: UP 0.8 percent at 19,883.13 (close)Shanghai – Composite: DOWN 0.5 percent at 3,351.26 (close)Euro/dollar: DOWN at $1.0408 from $1.0430 on FridayPound/dollar: DOWN at $1.2531 from $1.2570Dollar/yen: UP at 157.14 yen from 156.31 yen Euro/pound: UP at 83.03 pence from 82.97 penceWest Texas Intermediate: DOWN 0.3 percent at $69.24 per barrelBrent North Sea Crude: DOWN 0.4 percent at $72.63 per barrelburs-jmb/jgc

President-elect Donald Trump’s repeated support for TikTok has sparked speculation about potential solutions to prevent the app’s impending ban in the United States, though the path forward remains unclear.”We got to keep this sucker around for a little while,” Trump told supporters on Sunday, just days after meeting with TikTok CEO Shou Zi Chew in Florida.Trump, who credits the wildly popular platform with delivering him a large young user base, opposes banning TikTok partly because he believes it would primarily benefit Meta, the Mark Zuckerberg-led company behind Instagram and Facebook.The situation is complex, according to University of Richmond School of Law professor Carl Tobias, given the various potential solutions and Trump’s unpredictable nature.Congress overwhelmingly passed legislation, signed by President Joe Biden in April, that would block TikTok from US app stores and web hosting services unless Beijing-based ByteDance sells its stake by January 19.US officials and lawmakers grew wary of the potential for the Chinese government to influence ByteDance or access the data of TikTok’s American users.Even with Trump’s decisive election victory and incoming Republican-led Congress, acquiescing to the president-elect’s desire and preventing the ban faces significant hurdles. The law enjoyed rare bipartisan support in a divided Washington, making its outright repeal through a vote in Congress politically unlikely even with Trump’s influence over Republicans.The Supreme Court may offer the clearest path forward. TikTok has appealed to the nation’s highest court, arguing the law violates First Amendment rights to free speech.The court, which is dominated by Trump-aligned conservatives, will hear the case on January 10, just nine days before the ban takes effect. This follows a lower appeals court’s unanimous decision to uphold the law in December.Another possibility, according to Tobias, is that a Trump-led Department of Justice could determine ByteDance has addressed the law’s national security concerns. However, such a move would likely be seen as caving to China by Congress and others.The final option is ByteDance selling to a non-Chinese buyer, though the company has consistently refused this possibility.With 170 million monthly active users, acquiring TikTok’s US operations would require substantial resources. As president, Trump could extend the ban deadline by 90 days to facilitate a transaction.- ‘Deal of the Century’ -Few potential buyers have emerged, with major tech companies likely deterred by antitrust concerns.Former Trump Treasury secretary Steve Mnuchin, who runs a private equity fund backed by Japan’s SoftBank Group and Abu Dhabi’s Mubadala sovereign wealth fund, has expressed interest.During a recent event with Trump, SoftBank CEO Masayoshi Son pledged to invest $100 billion in the US economy, though specific investments weren’t detailed.Other contenders include US real estate billionaire Frank McCourt, who aims to make social media safer through his Project Liberty organization. Elon Musk, given his proximity to Trump and ownership of X, could also have a role to play, as he has expressed plans to transform the text-focused platform into something more like TikTok.A senior Republican lawmaker recently suggested Trump might orchestrate a “deal of the century” satisfying both US concerns and ByteDance’s interests. The chairman of the US House committee on China, John Moolenaar, told Fox News Digital that once ByteDance accepts it must comply with US law, the situation could progress rapidly.Any agreement would need Beijing’s approval, with US-China relations expected to remain tense during Trump’s upcoming term.This isn’t the first attempt to resolve TikTok’s US status. In 2020, Trump also threatened a ban unless ByteDance sold its US operations.While Oracle and Walmart reached a preliminary agreement with ByteDance for ownership stakes, legal challenges and the transition to the Biden administration prevented the deal’s completion.

European and US stocks bounced around Monday as investors waited to see if a so-called Santa Claus rally sweeps over the market.Global stock markets had a tumultuous time last week, spiralling lower after the US Federal Reserve signalled fewer interest rate cuts than had been expected for 2025.But it ended on a positive note as traders welcomed below-forecast US inflation data that raised hopes about the health of the world’s biggest economy.US inflation data for November came in lower than expected, providing some optimism that policymakers were winning the battle against rising prices and would have room to keep cutting rates.That helped Asian markets move higher on Monday, but the positive trend faltered in Europe and the United States.”Another up leg in US yields not only put pressure on stock indices but also drove the greenback higher,” said IG analyst Axel Rudolph.But Briefing.com analyst Patrick O’Hare said many expect a rebound this week.”That expectation is rooted in the understanding that the last five trading days of the year and the first two trading days of the new year are typically accented with a positive bias,” he said.Known as a Santa Claus rally, there are various explanations for the phenomenon including seasonal optimism and end-of-year tax considerations. Sentiment was boosted by news that US lawmakers had reached a deal over the weekend to avert a Christmas-time government shutdown.Still, there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation.”The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation,” said Ronald Temple, chief market strategist at Lazard. “However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in.”In Europe, the FTSE 100 moved higher as the pound slid following data that showed that the UK economy stagnated in the third quarter, revised down from initial estimates of 0.1 percent growth. “The economy stood still between July and September, and that was before the budget cast another chill, and caused output to shrink in October,” said Susannah Streeter, head of money and markets at Hargreaves. Official data out of Spain on Monday showed that the Spanish economy grew 0.8 percent in the third quarter as domestic consumption and exports increased, comfortably outstripping the European Union average.In company news, shares in crisis-hit German auto giant Volkswagen lost more than three percent on the back of news Friday that it plans to axe 35,000 jobs by 2030 in a drastic cost-cutting plan.Shares in Japanese auto giant Honda rose over three percent after it announced Monday an agreement to launch merger talks with struggling compatriot Nissan that could create the world’s third largest automaker.- Key figures around 1630 GMT -New York – Dow: DOWN 0.5 percent at 42,632.25 pointsNew York – S&P 500: FLAT at 5,932.07New York – Nasdaq Composite: UP 0.4 percent at 19,647.60London – FTSE 100: UP 0.2 percent at 8,102.72 (close)Paris – CAC 40: FLAT at 7,272.32 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,848.77 (close)Tokyo – Nikkei 225: UP 1.2 percent at 39,161.34 (close)Hong Kong – Hang Seng Index: UP 0.8 percent at 19,883.13 (close)Shanghai – Composite: DOWN 0.5 percent at 3,351.26 (close)Euro/dollar: DOWN at $1.0400 from $1.0431 on FridayPound/dollar: DOWN at $1.2515 from $1.2567Dollar/yen: UP at 157.17 yen from 156.45 yen Euro/pound: UP at 83.09 pence from 82.98 penceWest Texas Intermediate: DOWN 1.0 percent at $68.79 per barrelBrent North Sea Crude: DOWN 1.1 percent at $72.11 per barrelburs-rl/

Global stocks mostly moved higher Monday as investors waited to see if a so-called Santa Claus rally sweeps over the market.Global stock markets had a tumultuous time last week, spiralling lower after the US Federal Reserve signalled fewer interest rate cuts than had been expected for 2025.But it ended on a positive note as traders welcomed below-forecast US inflation data that raised hopes about the health of the world’s biggest economy.US inflation data for November came in lower than expected, providing some optimism that policymakers were winning the battle against rising prices and would have room to keep cutting rates.That helped Asian markets move higher on Monday, but European markets wobbled, while Wall Street was mixed at the open of trading.”This week is expected by many to be a rebound week,” said Briefing.com analyst Patrick O’Hare.”That expectation is rooted in the understanding that the last five trading days of the year and the first two trading days of the new year are typically accented with a positive bias,” he added.Known as a Santa Claus rally, there are various explanations for the phenomenon including seasonal optimism and end-of-year tax considerations. Sentiment was boosted by news that US lawmakers had reached a deal over the weekend to avert a Christmas-time government shutdown.Still, there remains some trepidation among investors as Donald Trump prepares to return to the White House, pledging to cut taxes, slash regulations and impose tariffs on imports, which some economists warn could reignite inflation.”The initial response to the US election was positive as investors focused on the obvious tailwinds to profitability: lower corporate tax rates and less regulation,” said Ronald Temple, chief market strategist at Lazard. “However, I expect much more dispersion within the equity market when the reality of a much-less-friendly trade environment sets in.”In Europe, the FTSE 100 moved higher as the pound slid following data that showed that the UK economy stagnated in the third quarter, revised down from initial estimates of 0.1 percent growth. “The economy stood still between July and September, and that was before the budget cast another chill, and caused output to shrink in October,” said Susannah Streeter, head of money and markets at Hargreaves. Official data out of Spain on Monday showed that the Spanish economy grew 0.8 percent in the third quarter as domestic consumption and exports increased, comfortably outstripping the European Union average.In company news, shares in crisis-hit German auto giant Volkswagen lost more than four percent on the back of news Friday that it plans to axe 35,000 jobs by 2030 in a drastic cost-cutting plan.Shares in Japanese auto giant Honda rose over three percent after it announced Monday an agreement to launch merger talks with struggling compatriot Nissan that could create the world’s third largest automaker.- Key figures around 1430 GMT -New York – Dow: DOWN 0.1 percent at 42,786.80 pointsNew York – S&P 500: UP 0.2 percent at 5,941.59New York – Nasdaq Composite: UP 0.5 percent at 19,659.50London – FTSE 100: UP 0.3 percent at 8,104.86 Paris – CAC 40: FLAT at 7,273.45Frankfurt – DAX: FLAT at 19,880.03Tokyo – Nikkei 225: UP 1.2 percent at 39,161.34 (close)Hong Kong – Hang Seng Index: UP 0.8 percent at 19,883.13 (close)Shanghai – Composite: DOWN 0.5 percent at 3,351.26 (close)Euro/dollar: DOWN at $1.0402 from $1.0431 on FridayPound/dollar: DOWN at $1.2532 from $1.2567Dollar/yen: UP at 157.08 yen from 156.45 yen Euro/pound: UP at 83.01 pence from 82.98 penceWest Texas Intermediate: DOWN 0.2 percent at $69.30 per barrelBrent North Sea Crude: DOWN 0.4 percent at $72.68 per barrelburs-rl/gv