Stock markets were little changed in Europe and on Wall Street Thursday after Ukraine claimed that Moscow fired an intercontinental ballistic missile, ratcheting up fears of further escalation in the war on Europe’s doorstep.Quarterly earnings from the AI chip giant Nvidia also gave investors reason for pause, failing to match the sky-high expectations of many analysts that might underpin further tech stock gains.But bitcoin resumed its march higher at around $97,000 on expectations that Donald Trump, spurred by cryptocurrency cheerleader Elon Musk, will bring it further into everyday use upon re-entering the White House in January.”Will Americans be able to use crypto to pay their taxes in future? There is a bigger possibility of this happening now than before the election,” said Kathleen Brooks, research director at XTB.But the mood was decidedly more cautious in mainstream markets after this week’s developments in the Ukraine war, with the US and Britain authorising Kyiv to make long-distance strikes into Russia, prompting warnings of retaliation by Moscow.Ukraine’s claim Thursday that Moscow had fired an intercontinental ballistic missile for the first time in combat added to uncertainty over what might come next.Oil prices also rose “as geopolitical tensions outweighed concerns over rising US crude supplies”, said Matt Britzman, senior equity analyst at Hargreaves Lansdown. “Geopolitical fears have also sent gold higher in recent sessions as investors look for some safety as Russia-Ukraine tensions escalate,” he added.Asian stocks had mostly fallen earlier Thursday under pressure from Nvidia’s earnings, though analysts said profit-taking was unlikely to dampen enthusiasm for the key AI player. “The negative market reaction to Nvidia’s results suggests investors are now focusing on the minutiae rather than the big picture,” said Dan Coatsworth, investment analyst at AJ Bell.”That’s a natural evolution as the more people zoom in on a company, the more they learn about it, and the more granular detail they want.”Elsewhere on the corporate front, shares in Indian conglomerate Adani Group tanked after US prosecutors charged its owner Gautam Adani with handing out more than $250 million in bribes for key contracts.Flagship operation Adani Enterprises dived almost 20 percent, while several of its subsidiaries — from coal to media businesses — lost 10 to 20 percent. – Key figures around 1455 GMT -New York – Dow: UP 0.2 percent at 43,489.58 pointsNew York – S&P 500: DOWN 0.1 percent at 5,907.37New York – Nasdaq: DOWN 0.4 percent at 18,887.91London – FTSE 100: UP 0.5 percent at 8,123.38Paris – CAC 40: DOWN 0.1 percent at 7,190.62Frankfurt – DAX: UP 0.3 percent at 19,065.93Tokyo – Nikkei 225: DOWN 0.9 percent at 38,026.17 (close)Hong Kong – Hang Seng Index: DOWN 0.5 percent at 19,601.11 (close)Shanghai – Composite: UP 0.1 percent at 3,370.40 (close)Euro/dollar: DOWN at $1.0531 from $1.0545 on WednesdayPound/dollar: DOWN at $1.2632 from $1.2652Dollar/yen: DOWN at 154.09 yen from 155.45 yenEuro/pound: UP at 83.38 pence from 83.33 penceBrent North Sea Crude: UP 1.3 percent at $74.07 per barrelWest Texas Intermediate: UP 1.3 percent at $70.04 per barrel    

Kenyan President William Ruto sought Thursday to turn the page on a difficult year, cancelling controversial deals with India’s Adani Group and vowing to tackle corruption, police kidnappings and gender-based violence.With the country on edge over multiple issues, there was a heavy police presence around parliament in Nairobi ahead of Ruto’s annual state of the nation address.His speech did not shy away from the many controversies dogging his administration.The biggest shock was his announcement that India’s Adani Group would no longer be involved in plans to expand Kenya’s electricity network and its main airport, Jomo Kenyatta International.The Adani Group was to invest $1.85 billion in the Jomo Kenyatta airport and $736 million in state-owned utility KETRACO, despite claims of corruption in the procurement process.The final straw may have come when the Indian group’s founder Gautam Adani was charged in the United States on Wednesday with massive bribery and fraud.Ruto said his decision was based on “new information provided by investigative agencies and partner nations”.He also addressed the deep concern in Kenya over a spate of abductions by security forces following mass protests between June and August over an unpopular finance bill.Rights groups accuse the security forces of a brutal crackdown, with more than 60 people killed during the protests and dozens kidnapped in the following months, many of them tortured and some killed.Ruto said many of the detentions were legitimate actions against “criminals and subversive elements”. But he added: “I condemn any excessive or extrajudicial action which puts the life and liberty of any person at risk, including disappearances and threats to life.”He also addressed gender-based violence after reports that 97 women have been murdered in the last three months alone. To loud cheers from the women in parliament, Ruto called on all society to help raise boys “into morally upright men who will never need to affirm their masculinity at the expense of women”.- ‘Times are hard’ -Ruto won a hard-fought election in 2022 with a pitch to help the country’s poor.But large debts have left Kenya spending more on interest payments than health and education.While economic growth has remained relatively strong at 5.4 percent last year, a third of Kenya’s 52 million people live in poverty.”It is undeniable that for many Kenyans times are hard and the struggle to meet their basic daily needs is daunting,” Ruto said.But he listed a series of successes, including taming inflation — down from 9.6 percent to 2.7 percent over two years — stabilising the currency and increasing agricultural production. He also heralded a new health insurance scheme, which has been beset by technical difficulties since its launch last month, vowing that it would ultimately provide “accessible and affordable” healthcare across the country.Ruto came into his speech with an urgent need to reset his presidency after mounting criticism, including from church leaders, over abductions, the cost-of-living crisis and corruption.Recent weeks have also seen international condemnation over the forced extradition of foreign nationals kidnapped on Kenyan soil, including four Turkish refugees and the Ugandan opposition leader Kizza Besigye.

Major stock markets diverged and the dollar was mixed Thursday as traders weighed escalating tensions in the Russia-Ukraine war.Bitcoin extended its surge, as the world’s biggest cryptocurrency struck a record high of over $98,000.Oil prices rallied “as geopolitical tensions outweighed concerns over rising US crude supplies”, noted Matt Britzman, senior equity analyst, Hargreaves Lansdown. “Geopolitical fears have also sent gold higher in recent sessions… as investors look for some safety as Russia-Ukraine tensions escalate,” he added.Kyiv accused Russia of launching an intercontinental ballistic missile attack at Ukraine for the first time on Thursday but without a nuclear warhead in a new escalation of the conflict. Awaiting Wall Street’s reopening, Asian and European stock markets travelled in different directions as blockbuster earnings late Wednesday from US chip titan Nvidia smashed forecasts but fell short of investor hopes.A driver of artificial-intelligence transitioning by companies, Nvidia’s market value has rocketed 200 percent over the last year to become the world’s-richest company.But its stock fell in after-hours trading.”The negative market reaction to Nvidia’s results suggests investors are now focusing on the minutiae rather than the big picture,” noted Dan Coatsworth, investment analyst at AJ Bell.”That’s a natural evolution as the more people zoom in on a company, the more they learn about it, and the more granular detail they want.”Elsewhere on the corporate front, shares in Indian conglomerate Adani Group tanked after US prosecutors charged its industrialist owner Gautam Adani with handing out more than $250 million in bribes for key contracts.Flagship operation Adani Enterprises dived almost 20 percent, while several of its subsidiaries — from coal to media businesses — lost between 10 and 20 percent. On the upside, bitcoin closed in on $100,000 having soared since Donald Trump was elected US president in early November.”The bitcoin boom shows no signs of slowing, with the crypto king… edging closer to the coveted six-figure milestone,” added analyst Britzman.Trump’s “return to the White House is fuelling hopes of a more crypto-friendly federal stance”, he said.- Key figures around 1100 GMT -London – FTSE 100: UP 0.2 percent at 8,101.90 pointsParis – CAC 40: DOWN 0.4 percent at 7,170.84Frankfurt – DAX: FLAT at 18,998.49Tokyo – Nikkei 225: DOWN 0.9 percent at 38,026.17 (close)Hong Kong – Hang Seng Index: DOWN 0.5 percent at 19,601.11 (close)Shanghai – Composite: UP 0.1 percent at 3,370.40 (close)New York – Dow: DOWN 0.3 percent at 43,408.47 (close)Euro/dollar: DOWN at $1.0521 from $1.0545 on WednesdayPound/dollar: DOWN at $1.2632 from $1.2652Dollar/yen: DOWN at 154.39 yen from 155.45 yenEuro/pound: DOWN at 83.28 pence from 83.33 penceBrent North Sea Crude: UP 1.7 percent at $74.06 per barrelWest Texas Intermediate: UP 1.9 percent at $70.02 per barrel