2026-02-10 05:46

A look at the day ahead in European and global markets from Gregor Stuart Hunter Global stocks are at fresh peaks, helped by the seemingly indefatigable tech sector, while new moves by the U.S. government to shake up climate policy could mark a new pain point for ESG investors. Sign up here. The Trump administration is set this week to overturn the so-called endangerment finding, the Environmental Protection Agency said on Monday. An Obama-era scientific determination that greenhouse gas emissions endanger human health, it serves as the legal basis for broader federal greenhouse gas regulation. That aims to pave the way for what EPA Administrator Lee Zeldin told The Wall Street Journal would be "the largest act of deregulation in the history of the United States." Meanwhile, the dollar has continued its slide ahead of the release of several critical U.S. economic reports due for release this week, including retail sales later on Tuesday, delayed payrolls data on Wednesday, and inflation data on Friday. The dollar index , which measures the greenback's strength against a basket of six currencies, was wallowing near its lows for the month. White House economic adviser Kevin Hassett said on Monday job gains could be lower in the coming months as Trump's immigration policies slow labour growth and AI boosts productivity. Fed funds futures continue to indicate that the market expects the Federal Reserve will keep interest rates on hold until June, according to the CME Group's FedWatch tool. Fed Governor Stephen Miran on Monday argued the Trump administration’s policy of trade tariffs has proved more benign than many had feared, reiterating his call to slash interest rates. He also defended central bank independence but said it was not absolute. Global stocks are hitting record highs in the meantime. MSCI's All-Country World Index rose 0.2% to a record as the Nikkei 225 (.N225) , opens new tab surged 2.5%, rising for a third consecutive day to a fresh peak after Japanese Prime Minister Sanae Takaichi's election victory at the weekend. The yen also strengthened for a second day, last 0.4% firmer against the U.S. dollar. In early European trade, pan-region futures and German DAX futures were flat, while FTSE futures rose 0.1%. Key developments that could influence markets on Tuesday: Company earnings: AstraZeneca, BP, Barclays, Philips, Kering, Banca Monte dei Paschi di Siena, Telecom Italia, Ferrari Economic events: France: Unemployment rate for Q4 U.S.: Retail sales for December Debt auctions: Germany: 5-year government debt UK: 5-year government debt https://www.reuters.com/world/china/global-markets-view-europe-2026-02-10/

2026-02-10 05:46

BEIJING, Feb 10 (Reuters) - Seven people were killed in a gold mine accident in China's eastern Shandong province, and authorities were investigating, state-run CCTV reported, sending shares of the mine owner, Zhaojin Mining Industry, down 6% on Tuesday. The accident occurred on Saturday when a cage fell down a mine shaft, CCTV reported late on Monday night. Sign up here. The emergency management and public security departments were investigating the cause of the accident, and whether there had been an attempt to cover it up, the report added. The mine is owned by leading gold producer Zhaojin Mining Industry (1818.HK) , opens new tab, according to the Qichacha company registry. Shares of the company were down 6.01%, as of 0525 GMT. A person who answered Zhaojin's main phone line told Reuters that the matter was under investigation and declined to answer further questions. China's emergency management ministry on Monday held a meeting on preventing accidents during the upcoming Lunar New Year holiday. It announced inspections of mines, chemical companies, and other hazardous operations. Also on Saturday, an explosion at a biotech company in northern China killed eight people. https://www.reuters.com/world/china/seven-killed-gold-mine-accident-eastern-china-state-media-cctv-reports-2026-02-10/

2026-02-10 05:23

Feb 10 (Reuters) - Indian investors piled into gold exchange-traded funds in January as prices soared amid rising geopolitical risk, surpassing flows into equity funds for the first time, industry data showed on Tuesday. Last month saw gold climb to record high levels, double where it traded in January 2024 in dollar terms, while investors in Indian equities held back as an agreement to reduce tariffs on Indian exports to the U.S. had yet to be reached. Sign up here. Gold ETFs are easier to buy and hold than physical gold and India is one of the world's biggest markets for the metal. "We saw extreme volatility in the markets in January, particularly due to U.S. government's intervention in Venezuela and imposition of new tariffs," said Venkat Chalasani, chief executive at Association of Mutual Funds in India (AMFI). Net inflows into Indian equity mutual funds fell 14.35% month-on-month to 240.29 billion rupees ($2.65 billion) - the second straight month of decline. Flows to gold exchange-traded funds meanwhile, more than doubled from the previous month to 240.4 billion rupees, putting them just ahead of equity flows for the first time, AMFI data showed. SYSTEMATIC INVESTMENT PLANS HOLD UP Equity mutual funds have seen uninterrupted monthly inflows since February 2021, powered by systematic investment plans (SIPs), government reforms and supportive central bank policy. That steady domestic money has helped the market shrug off relentless foreign selling and turbo-charged a post-COVID rally in stocks. Inflows into equities through SIPs remained largely unchanged from the previous month at 310.02 billion rupees in January, the data showed. The benchmark Nifty 50 (.NSEI) , opens new tab and Sensex (.BSESN) , opens new tab dropped 3.1% and 3.5% in January, while the broader small-caps (.NIFSMCP100) , opens new tab and mid-caps (.NIFMDCP100) , opens new tab fell 4.7% and 3.4%, respectively. On the other hand, spot gold prices rose about 13% during the month, marking their sixth consecutive monthly rise. CHANGING INVESTOR BEHAVIOUR "Investor behaviour is becoming more balanced and risk-aware, with allocations gradually shifting toward stability, diversification, and valuation comfort rather than aggressive positioning in slightly riskier segments," said Himanshu Srivastava, principal of manager research at Morningstar Investment Research India. This also reflected in a 28% rise in inflows into large-cap equity schemes at 20.05 billion rupees, while inflows into mid-cap and small-cap schemes fell 23.7% and 23.1% month-on-month to 31.85 billion rupees and 29.42 billion rupees, respectively. "Looking ahead, improving global cues following India-EU and India-U.S. trade developments, combined with stable domestic macros, should help investor sentiment improve," said Ankur Punj, managing director – business head at Equirus Wealth. ($1 = 90.6700 Indian rupees) https://www.reuters.com/world/india/india-equity-mutual-fund-inflows-ease-second-straight-month-january-2026-02-10/

2026-02-10 05:20

KUALA LUMPUR, Feb 10 (Reuters) - Malaysia's top court on Tuesday reinstated a corruption conviction and six-year jail sentence imposed on a former chairman of the state palm-oil plantation body, national news agency Bernama reported. In March 2024, an appeals court had overturned a guilty verdict against Mohamad Isa Abdul Samad on nine counts of bribery for illegally receiving about 3 million ringgit ($765,000) linked to the purchase of a hotel during his time as chair of the Federal Land Development Authority (Felda). Sign up here. Mohamad Isa was the chair of Felda, the state palm-oil plantation agency, from 2011 to 2017. He has denied wrongdoing. A three-member bench of the Federal Court on Tuesday allowed prosecutors' appeal against the acquittal, finding the sentence imposed by a lower court was appropriate and in accordance with the law, Bernama reported. "We need to reiterate that corruption is a heinous act that would destroy a nation," Justice Nordin Hassan was quoted as saying. Mohamad Isa's lawyer did not immediately respond to a request for comment. Bernama reported the court ordered that Mohamad Isa begin serving his sentence on Tuesday. Felda had been dogged by allegations of corruption and poor management for years, sending its losses and debts soaring over the past decade. In 2017, Mohamad Isa was replaced as chairman of Felda and its then-listed unit FGV Holdings, one of the world's largest palm-oil plantation operators, amid reports of suspicious transactions and deals at both entities. FGV Holdings was taken private by Felda last year, with the state body saying it planned to restructure the company. ($1 = 3.9210 ringgit) https://www.reuters.com/world/asia-pacific/malaysias-top-court-restores-conviction-jail-sentence-former-palm-oil-agency-2026-02-10/

2026-02-10 05:18

MOSCOW, Feb 10 (Reuters) - An earthquake hit Russia's southern Krasnodar region, officials said on Tuesday. The mayor of the port city of Novorossiysk, Andrei Kravchenko, said that the earthquake did not cause any damage to the city's infrastructure. Sign up here. The European Mediterranean Seismological Centre (EMSC) said that the earthquake had a magnitude of 4.8. https://www.reuters.com/business/environment/earthquake-hits-russias-southern-krasnodar-region-2026-02-10/

2026-02-10 05:09

TOKYO, Feb 10 (Reuters) - There is a 60% chance of the El Nino phenomenon occurring in the summer, Japan's weather bureau said on Tuesday. In the spring, there is a 50% likelihood of El Nino occurring and a 50% chance of normal conditions continuing, the bureau said. Sign up here. El Nino is a warming of ocean surface temperatures in the eastern and central Pacific. The La Nina phenomenon is characterised by colder-than-usual ocean temperatures in the equatorial Pacific region and is linked to floods and drought. https://www.reuters.com/business/environment/japan-weather-bureau-says-60-chance-el-nino-summer-2026-02-10/