WORLD MARKETS

World Markets Daily News – In Brief – Wednesday 26/10/2022

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. THE SYDNEY MORNING HERALD (AUSTRALIA)

ASX fends off inflation blow to finish higher

The Australian sharemarket gave up early gains on Wednesday after the release of higher-than-expected inflation data, but was still closed up higher. Medibank slumped as its cyberattack woes escalated.

. RTT NEWS (US)

Asian shares climb as Fed hike bets ease

Asian stocks advanced on Wednesday as weak U.S. data released overnight boosted expectations of a less hawkish Federal Reserve

. CNBC (US)

European markets fluctuate after hitting five-week high; Heineken down 10%

European markets were choppy on Wednesday, with corporate earnings season in full swing and a European Central Bank meeting ahead.

. REUTERS (UK)

Oil falls on build in U.S. crude oil stocks, stronger dollar

Oil prices fell in early trade on Wednesday as the dollar firmed and as industry data showing U.S. crude oil stockpiles rose more than expected reinforced fears of a global recession that would cut demand

Gold subdued as dollar ticks higher; investors eye Fed outlook

Gold prices were flat on Wednesday on a firmer dollar, although the bullion was anchored in a narrow range with investors awaiting further guidance on U.S. Federal Reserve’s policy tightening

. THE FINANCIAL TIMES (UK)

LME must ‘justify continued faith’ after nickel trading chaos, says chief

. THE WALL STREET JOURNAL (US)

Tech-Stock Futures Fall After Google, Microsoft Earnings

Technology shares declined in premarket trading as disappointing results from Microsoft and Google parent Alphabet highlighted the challenges raised by a slowing economy