europe

Asian stocks fell on Thursday after inconclusive US midterm election results and a cryptocurrency crisis hammered markets.

Eastern European countries are preparing to reopen reception centres and are restocking food supplies in anticipation of a possible fresh surge in Ukrainian refugees as winter looms and Russia targets Ukraine's power grid and heating plants.

European shares came off eight-week highs Wednesday as Marks & Spencer led declines among retailers, while investors closely tracked results from the U.S.

Italy aims to follow a cautious fiscal policy in order to lower its public debt but is ready to act quickly to curb surging energy costs and head off recession risks, Economy Minister Giancarlo Giorgetti told parliament on Wednesday.

Some European retailers this week forecast or reported better full-year sales after working to keep prices low to attract cash-strapped shoppers although others, including Marks & Spencer and Adidas warned on profit.

European workers squeezed by the soaring cost of living went on strike in Belgium and Greece on Wednesday, with stoppages threatening to paralyse parts of Britain, France and Spain in coming days.

The European Commission proposed on Wednesday to change the EU's fiscal rules so that governments would negotiate individual debt reduction paths of a length linked to reforms and investments, despite scepticism from some members including Germany.

European shares traded in a tight range on Tuesday as investors focussed on U.S.

European shares rose on Monday, reversing declines from the opening bell, as a jump in travel stocks helped outweigh a drag from China-exposed luxury giants.

Europe's drive to build a homegrown electric vehicle battery industry is hitting roadblocks as investors shy away from giving startups sufficient funding to challenge the Asian companies that dominate the market.

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned Thursday.

The European Union sought on Thursday to reassure international companies it would seek to align its sustainability disclosure rules with a global initiative, after warnings from regulators over fragmenting capital markets.

Europe needs its industrial companies to save energy amid soaring costs and shrinking supplies, and they are delivering - demand for natural gas and electricity both fell in the past quarter.

European stocks rose on Tuesday and the positive market sentiment was set to continue on Wall Street, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles.

Euro zone inflation surged more than expected in October, data showed on Monday, fuelling expectations that the European Central Bank will press on with big interest rate hikes despite economic growth slowing.

French protesters on Monday defied a massive police presence to try to stop an agriculture water storage project, as the government vowed to prevent any encampment and denounced "eco-terrorism".

October morning temperatures topping 30 Celsius (86 Fahrenheit) in Spain may have brought cheer to the tourists, but they are provoking concern among environmentalists.

The European Union asked the United States on Monday to treat EU electric vehicles, batteries and sustainable energy equipment sold in the United States the same as those from Canada and Mexico, Czech trade minister Jozef Sikela said.

Germany's economy unexpectedly grew in the third quarter, official data showed Friday, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession.

European stocks pared losses on Thursday after the European Central Bank raised interest rates by 75 basis points, matching market expectations, and signalled the need for more hikes to bring down record-high inflation.

China has been accused of setting up more than 50 unofficial police "offices" in several countries across Europe to clamp down on its dissidents.

Makers of metals, chemicals and gases said on Tuesday that the outlook for the final months of the year had worsened as concerns intensify that a surge in energy and raw material costs will shrink Europe's heavy industry.

European stocks and the pound climbed Monday as markets awaited confirmation that former finance minister Rishi Sunak would become Britain's new prime minister.

A curb on "dark" or off-exchange trading of shares in the European Union should be completely removed to compete better with Britain, EU documents seen by Reuters showed on Friday.

EU leaders are set for tough talks on how to handle Europe's energy shock Thursday.

European Union leaders meeting this week are set to endorse the bloc's latest proposals to curb energy prices, but pressure Brussels to go further and cap the price of gas used in power generation, according to a draft of their meeting conclusions.

In the quiet Romanian village of Vasilati, where most houses are heated with wood, people worry about their power bills even though Romanians consume the least electricity per capita in the European Union and many have cut back use all they can.

Croatia and Lithuania want a wholesale gas cap, Slovenia advocates a ceiling on liquefied gas only, while Finland and Slovakia disagree on direct subsidies, the countries said on Tuesday as the European Union grapples with an energy crunch.

British Airways-owner IAG, Europe's biggest airline Ryanair and rival easyJet said demand for travel was holding up, calming worries that pressure on household budgets could stall aviation's recovery from the pandemic.

Euro zone borrowing costs fell on Thursday as investors paused for breath ahead of key U.S. economic data after driving government bond yields to fresh multi-year highs.