WORLDWIDE : HEADLINES

Asian shares rebound on strong China data, oil on slippery slope

SYDNEY (Reuters) – Asian shares bounced off one-month lows on Monday on solid data from China showing factory activity expanded at its fastest pace in a decade while oil prices skidded as many Western countries slid back into coronavirus-driven lockdowns.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 0.5% to 573.04, as China’s Caixin/Markit Manufacturing Purchasing Managers’ Index offered hope the region’s success in containing the coronavirus could spare it the economic pain being inflicted on Europe and the United States.

All major indexes except New Zealand were up on Monday.

Full coverage: REUTERS

Brexit talks go into another week as EU, UK push to salvage trade deal

BRUSSELS (Reuters) – EU and British Brexit negotiators will continue talks in Brussels on Monday and until around mid-week, sources on both sides said on Sunday, in a sign both sides are still pushing to avoid a damaging breakdown in trade in less than nine weeks.

Intensive and secretive, the talks are a final bid to seal a new partnership agreement for when Britain’s transition out of the European Union runs its course at the end of this year.

Full coverage: REUTERS

Oil prices slip 3% as Europe widens lockdowns

SINGAPORE (Reuters) – Oil prices fell more than 3% on Monday on worries a swathe of coronavirus lockdowns across Europe will weaken fuel demand, while traders braced for turbulence during the U.S. presidential election week.

Brent crude LCOc1 for January was at $36.78 a barrel, down $1.16, or 3.1%, by 0229 GMT, while U.S. West Texas Intermediate CLc1 fell $1.24, or 3.5%, to $34.55 a barrel. Brent fell as much as 5.8% and WTI as much as 6% in early trade, hitting their lowest levels since May.

Full coverage: REUTERS

WORLDWIDE : FINANCE / MARKETS

Dollar holds gains on U.S. election caution, COVID-19 cases

TOKYO (Reuters) – The U.S. dollar held steady on Monday as investors readied for this week’s U.S. presidential election, while a surge in global coronavirus cases continued to weigh on sentiment.

The greenback held onto its gains after posting its largest weekly percentage rise since late September in the previous trading session.

Full coverage: REUTERS

Nikkei rebounds from 2-month low as earnings recover

TOKYO, Nov 2 (Reuters) – Japan’s Nikkei share average jumped on Monday, weathering the impact from downbeat U.S. stocks late last week, as signs of a recovery in earnings at home and a relatively contained domestic COVID-19 situation lifted sentiment.

The Nikkei rose 1.42% to 23,303.42, erasing all of its Friday losses that took it to a two-month closing low. The broader Topix gained even more, rising 1.78% to 1,607.39 from Friday’s near-three-month trough.

Full coverage: REUTERS