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The OPEC+ alliance of major oil-producing nations has postponed a weekend meeting to December 5 in what analysts said were signs of disagreement among the group over plans to increase output.The 22-member OPEC+ group led by Saudi Arabia and Russia was due to decide on its 2025 output policy at a ministerial meeting originally scheduled for Sunday.But the Vienna-based Organization of the Petroleum Exporting Countries (OPEC) said in a statement Thursday that the meeting was “rescheduled” to December 5 “as several Ministers will be attending the 45th Gulf Summit in Kuwait City”.An OPEC spokesman told AFP that the December meeting will be held online.In a bid to boost crude prices, eight OPEC+ members announced earlier this month they were extending supply cuts until the end of December.In recent days, oil prices had won support from the prospect that key OPEC+ members would delay a pick-up in production, which was due to begin in January.Rystad Energy analyst Jorge Leon raised doubts that the meeting’s postponement was due to a scheduling conflict with the Gulf Summit.”The dates were set a long time ago, so it’s not that they realised three days ago that there is a clash,” Leon said.”What it might be hinting is that the group needs a little bit more time to decide what to do next,” he told AFP.There “seem to be divergent view, and the delaying might help align them before the meeting”.The eight nations that have extended production cuts are Saudi Arabia and Russia, as well as Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates.They have been delaying production increases amid concerns over slowing demand, which has weighed on oil prices in recent months.Analysts say that if OPEC nations maintain their output cuts, their market share could fall as non-OPEC nations continue to produce more. And if the group raises production, prices will drop.”The oil market in 2025 has no room for additional OPEC+ barrels,” said analysts at DNB, Norway’s largest bank.

Hong Kong started flight operations on its third runway on Thursday, with officials saying it will keep the city’s airport competitive as an aviation hub despite its lagging post-pandemic recovery. Hong Kong International Airport is still among the busiest airports in the world, but flights are not yet back to pre-Covid levels and it has fallen behind regional rivals like Singapore and South Korea in passenger traffic.Speaking at a ceremony near the tarmac, Hong Kong leader John Lee said the airport’s “capacity will be significantly increased” by the new runway.It will enable the airport to handle 120 million passengers and 10 million tonnes of cargo annually by 2035, authorities say.Eight years after construction began on the third runway, guests at the commissioning ceremony watched a plane take off into a clear blue sky.The project that cost HK$142 billion ($18 billion) drew controversy for its environmental impact, as well as attracting headlines for labour disputes and a corruption case involving subcontractors.Observers have questioned whether the boosted capacity can be taken full advantage of, with visitor arrivals still below pre-pandemic levels.Hong Kong carrier Cathay Pacific said this week that it will reach 100 percent of pre-pandemic flights in January. Lee said Thursday that the upgraded airport will help Hong Kong improve ties to surrounding Chinese cities, as part of Beijing’s development blueprint for the region.It will take until the end of 2025 for some of the expanded passenger buildings associated with the third runway to enter service.

Equity markets diverged Thursday as investors brushed off a negative lead from Wall Street while welcoming a drop in Treasury yields and data showing US inflation was holding steady.With the United States heading into the Thanksgiving holiday, business in New York was subdued after a flurry of activity since Donald Trump’s election win at the start of the month.That has allowed Asian traders to take a breather and digest recent developments as the president-elect builds a hawkish cabinet that looks set to renew his hardball approach to world trade, having already flagged tariffs against China, Canada and Mexico.Data out of Washington on Wednesday showed the personal consumption expenditures index — the Federal Reserve’s preferred gauge of inflation — edged up to 2.3 percent on-year in October.The figure was up from 2.1 percent the previous month and in line with forecasts, while slightly above the Federal Reserve’s long-term two percent target for price rises.While the Fed appears to be getting a handle on inflation and the labour market is softening, investors have started to scale back their bets on how many rate cuts the central bank will make as they try to assess the impact of Trump’s plans to cut taxes and impose tariffs.Futures markets currently place the odds at about two-thirds that officials will lower rates again in December by 25 basis points.Still, all three main Wall Street indexes ended in the red, with the Dow and S&P 500 pulling back from record highs as investors shifted to the sidelines ahead of the festive break.Treasury yields slipped, weighing on the dollar Wednesday, though the greenback strengthened slightly in Asian trade.Equity markets were mixed, with Tokyo, Sydney and Singapore all up, while Seoul also edged up after a second successive interest rate cut by South Korea’s central bank.Wellington, Taipei, Manila, Bangkok, Mumbai and Jakarta took a leg down. London, Paris and Frankfurt opened on the front foot.Hong Kong and Shanghai retreated as Bloomberg reported that Washington was considering ramping up its crackdown on tech supplies to China by putting fresh sanctions on sales of semiconductor equipment and AI chips to the country. Dealers were also eyeing Beijing, amid speculation authorities will announce fresh stimulus measures at a key meeting expected next month.However, analysts pointed out that hopes ahead of previous gatherings have largely been dashed by measures that fell short.”China’s economy remains unbalanced as a solid export base for goods production is offset by the continued weakness of the property market and weak consumer spending,” Steven Cochrane, chief Asia Pacific economist at Moody’s Analytics, said.He added that “consumer confidence remains shattered, particularly regarding expectations for the labour market”.While Beijing has introduced a raft of policies to boost growth — including interest rate cuts and measures to support the property sector — Cochrane said that “most issues weighing on the economy have not yet been resolved”.And he warned: “The risks are rising for China as the incoming Trump administration threatens to impose tariffs.”In the crypto sphere, bitcoin was hovering around $96,500, having bounced back from just below $90,300 earlier in the week following its worst run since Trump’s electoral success.Still, it is widely tipped to top $100,000 on hopes the new president will try to ease restrictions on the digital currency market.- Key figures around 0810 GMT -Tokyo – Nikkei 225: UP 0.6 percent at 38,349.06 (close)Hong Kong – Hang Seng Index: DOWN 1.2 percent at 19,366.96 (close)Shanghai – Composite: DOWN 0.4 percent at 3,295.70 (close)London – FTSE 100: UP 0.2 percent at 8,290.76Euro/dollar: DOWN at $1.0535 from $1.0565 on WednesdayPound/dollar: DOWN at $1.2649 from $1.2678Dollar/yen: UP at 151.82 yen from 151.17 yenEuro/pound: DOWN at 83.28 pence from 83.33 penceWest Texas Intermediate: DOWN 0.4 percent at $68.48 per barrelBrent North Sea Crude: DOWN 0.3 percent at $72.61 per barrelNew York – Dow: DOWN 0.3 percent at 44,722.06 (close)

Ireland-based budget fashion chain Primark has been criticised for its record on workers’ rights and the effect of its low-cost, high-volume model on the environment.But its chief executive Paul Marchant does not agree. “I don’t buy the story that we can’t be ethical buying from Asia,” he told AFP in an interview in Dublin.In the world of low-cost fashion, Primark — a fixture on the high street in the UK, Ireland and beyond — is a one-off.The brand produces its garments in Asia and sells them cheaply in Europe, but ships them by boat rather than by plane, does not sell online, prepares its collections more than a year in advance and does not build up stock.It has been a lucrative formula, with Marchant boasting recently that the retailer had hit the billion-pound ($1.3 billion) profit figure for the first time. Primark, though, still has to bat back critics including environmental campaigners who argue that the brand’s “throwaway” fashion is a drain on resources.Human rights groups meanwhile accuse it of relying on suppliers in countries where workers are afforded little protection. Primark maintains that it trains Indian farmers in regenerative agriculture and that it conducts regular audits of its suppliers to ensure workers and land are not exploited. Nonetheless, its model relies on policing of regulations in India, Pakistan and Bangladesh, where its garments are mainly produced.”Providing you have the right partners… and have the right guards and measures and controls in place… I don’t see any reason why you can’t have a very robust ethical supply chain at source,” said Marchant.The company, he added, complies with the International Labour Organization’s code of conduct.- Humble roots -Primark published a report on its supply chain in 2018 but it only covered its own clothing factories, not its partners.It admitted last year that previous partner SMART Myanmar had imposed excessive working time on its staff, and that they were not properly informed of their general leave entitlement.However, it said there was no evidence to back up further claims that staff had limited toilet access and suffered verbal abuse from supervisors. Primark claims to be making efforts to reduce its greenhouse gas emissions but acknowledges that 97.5 percent of its overall carbon footprint comes from the activities of its suppliers. Asked about the sheer volume of clothing his company sells, Marchant is insistent.”We’re not flooding the market with unwanted goods,” he said. “We sell everything that we buy.”He also claimed that his products are less sensitive than other brands to the whims of fashion, with half of its collections consisting of everyday clothing. Primark launched in Ireland in 1969 under the name Penneys and has had only two bosses since: founder Arthur Ryan, then Marchant. But the company, the top-selling budget-fashion flagship in both the UK and Ireland, is no longer a small family business. It is now a thriving subsidiary of the agri-food giant Associated British Foods, and sells its clothes in 17 countries, employing 80,000 people.- Expansion plans -On the back of this success, Primark intends to expand in the United States and Europe (France, Spain, Portugal and Italy), Marchant explained. The brand has also signed with “a franchise partner” to open stores in the United Arab Emirates, Kuwait and “potentially” Bahrain and Qatar within “12 to 18 months”, he added. Primark’s direct competitors include Europe’s H&M and Zara, as well as Asian giants Shein and Temu, which follow a similar model of “low, low margins”, he said. The company also achieves economies of scale by purchasing larger volumes than its competitors and does not sell online. Instead, it hopes to lure customers to stores by expanding partnerships with popular brands such as Netflix, Disney and Hello Kitty. Its 453 stores sell clothes and accessories, but also stock decorations and host cafes, eyebrow bars and hairdressers. The idea is that everyone can find something. For instance, parents are tempted by “competitive” prices on children’s clothing while women with special clothing requirements, such as those who are pregnant, who have suffered from breast cancer or who have disabilities, all have collections catering to them. 

Asian markets diverged Thursday as investors brushed off a negative lead from Wall Street while welcoming a drop in Treasury yields and data showing US inflation was holding steady.With the United States heading into the Thanksgiving holiday, business in New York was subdued after a flurry of activity since Donald Trump’s election at the start of the month.That has allowed Asian traders to take a breather and digest recent developments as the president-elect builds a hawkish cabinet that looks set to renew his hardball approach to world trade, having already flagged tariffs against China, Canada and Mexico.Data out of Washington on Wednesday showed the personal consumption expenditures index — the Federal Reserve’s preferred gauge of inflation — edged up to 2.3 percent on-year in OctoberThe figure was up from 2.1 percent the previous month and in line with forecasts, while slightly above the Federal Reserve’s long-term two percent target for price rises.While the Fed appears to be getting a handle on inflation and the labour market is softening, investors have started to scale back their bets on how many rate cuts the central bank will make as they try to assess the impact of Trump’s plans to cut taxes and impose tariffs.Futures markets currently place the odds at about two-thirds that officials will lower rates again in December by 25 basis points.Still, all three main Wall Street indexes ended in the red, with the Dow and S&P 500 pulling back from record highs as investors shifted to the sidelines ahead of the festive break.Treasury yields slipped, weighing on the dollar Wednesday, though the greenback edged back slightly in Asian trade.Equity markets were mixed in early exchanges, with Tokyo, Sydney and Singapore all rising and Wellington, Taipei, Manila and Jakarta taking a leg down. Seoul was flat as investors shrugged at a second successive interest rate cut by South Korea’s central bank.Hong Kong and Shanghai edged down as dealers turned an eye to Beijing amid speculation authorities will announce fresh stimulus measures at a key meeting expected next month.However, analysts pointed out that hopes ahead of previous gatherings have largely been dashed by measures that fell short.”China’s economy remains unbalanced as a solid export base for goods production is offset by the continued weakness of the property market and weak consumer spending,” Steven Cochrane, chief Asia Pacific economist at Moody’s Analytics, said.He added that “consumer confidence remains shattered, particularly regarding expectations for the labour market”.While Beijing has introduced a raft of policies to boost growth — including interest rate cuts and measures to support the property sector — Cochrane said that “most issues weighing on the economy have not yet been resolved”.And he warned: “The risks are rising for China as the incoming Trump administration threatens to impose tariffs.”In the crypto sphere, bitcoin was hovering around $96,500, having bounced back from just below $90,300 earlier in the week following its worst run since Trump’s electoral success.Still, it is widely tipped to top $100,000 on hopes the new president will try to ease restrictions on the digital currency market.- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.4 percent at 38,295.13 (break)Hong Kong – Hang Seng Index: DOWN 1.1 percent at 19,390.65Shanghai – Composite: DOWN 0.1 percent at 3,308.21Euro/dollar: DOWN at $1.0549 from $1.0565 on WednesdayPound/dollar: DOWN at $1.2666 from $1.2678Dollar/yen: UP at 151.71 yen from 151.17 yenEuro/pound: DOWN at 83.28 pence from 83.33 penceWest Texas Intermediate: FLAT at $68.72 per barrelBrent North Sea Crude: FLAT at $72.83 per barrelNew York – Dow: DOWN 0.3 percent at 44,722.06 (close)London – FTSE 100: UP 0.2 percent at 8,274.75 (close)

Donald Trump’s tariff threats have rattled foreign businesses and governments, with many fearing it could signal the opening salvo of an all-out trade war when he returns to the White House next year.The president-elect on Monday placed both allies and rivals on notice, vowing to quickly slap an across-the-board tariff of 25 percent on Canada and Mexico, and add a 10 percent tariff on China.Following through on that threat — or his campaign promise of a 10 percent levy on all US imports — will spark retaliation and have ripple effects across the global economy, analysts say.”Our assumption is that all these other countries, all these other advanced economies, especially in Asia, they will retaliate in kind,” economist Bernard Yaros of Oxford Economics told AFP.US tariffs and retaliation including from Europe and Asia would “depress growth” and trade flows, he said, estimating a cut to global growth of 0.1 to 0.9 percentage points in 2026.Even before tariffs take effect, threats weigh on sentiment and could delay investments and hiring, ING economists Ruben Dewitte and Inga Fechner warned in a note.Trump has long viewed tariffs as a negotiating tool — or an “all-purpose bludgeon” as a recent Wall Street Journal editorial put it.On Monday, Trump said that the tariffs on Mexico and Canada would only be removed when illegal immigration and drug trafficking to the United States are stopped.While seeking to build US leverage, he also risks longer term impacts, with some suggesting he would push countries toward China, Columbia Law School professor Petros Mavroidis said.”What he definitely does is alienate all his allies,” he told AFP.Erin Murphy, senior fellow at the Center for Strategic and International Studies, said in Trump’s threats “there is no differentiation” regarding countries’ economic development status or affinity with Washington.- Europe pushback -Europe could be particularly impacted, Dewitte and Fechner said, warning that “a looming new trade war could push the eurozone economy from sluggish growth into recession.”EU tariffs on car imports were a particular target of Trump during his campaign.But US reliance on the bloc for strategically important products, mainly in the chemical and pharmaceutical sectors, could give the EU some leverage in talks, ING said.”European countries will be less likely to strike any kind of bargain with Trump than Canada or Mexico,” said Peterson Institute for International Economics nonresident senior fellow Gary Hufbauer.He expects the EU could offer to reduce auto tariffs and buy more US agricultural products like soybeans, but it may not be enough for an administration seeking greater market access or rules exemptions.Should the US impose tariffs, the EU will probably retaliate on iconic US goods like iPhones or whiskey, he said.European countries could turn to the World Trade Organization (WTO), though even favorable rulings from the international body may not significantly change US practices.EU chief Ursula von der Leyen has said she will work towards “constructive cooperation” with US authorities.Jovita Neliupsiene, the EU ambassador to the United States, meanwhile said the bloc is ready to respond to new trade frictions.- Avoiding escalation -In Asia, economies like Japan and South Korea could be targeted over metals and auto exports, while Vietnam may also draw US scrutiny over solar panels, Yaros said.The US trade deficit with Vietnam has widened in recent years on a surge in goods imports.Yaros said that countries targeted by Trump’s tariffs, in seeking to avoid escalation, will “retaliate in a way that’s commensurate to the action done by the US, but no greater.”China, based on precedent, might eschew equal retaliation for tools like export controls, he added.Daniel Russel of the Asia Society Policy Institute said both Tokyo and Seoul are very focused on preparing for potential tariffs.He expects partners like South Korea could seek exemptions from blanket US tariffs, for example, by citing its high-tech investments in America.

US and European stock markets wobbled Wednesday as key US inflation data showed an uptick, with traders also weighing US President-elect Donald Trump’s tariff threats and a political standoff in France.Wall Street saw red with both the Dow and S&P 500 retreating from records on the eve of the Thanksgiving holiday. The Nasdaq also declined.European stock markets were also mindful of rising concerns Europe could be the next tariffs target for Trump.The Paris stock market ended off 0.7 percent as a French political standoff over a belt-tightening draft budget for 2025 threatens to topple the government.Frankfurt also dipped, while London just finished in the green.In the United States, the personal consumption expenditures (PCE) price index rose 2.3 percent in the 12 months to October, up from 2.1 percent in September, which was broadly in line with forecasts.The figure was also close to the US Federal Reserve’s long-term target of two percent, keeping the central bank’s inflation fight largely on track.Futures markets currently place the odds at about two-thirds that the Fed will cut interest rates again in December by a quarter of a percentage point.Kathleen Brooks, research director at XTB, said the figure “is a little hot” but “it is not outside the most recent range for monthly increases.””US traders can pack up for the Thanksgiving holiday with little to fear at this stage,” she said in a research note.Trump, who has named a tough-negotiating hawk to be his trade envoy when he takes office in January, has announced plans to hit China, Canada and Mexico with hefty tariffs right away.”Investors are growing increasingly concerned that Donald Trump’s next tariff target is continental Europe,” said Dan Coatsworth, investment analyst at AJ Bell.For Europe, this would create “another potential headwind on top of the existing one in the form of lackluster economic activity,” he said.While Trump’s victory has been broadly welcomed by the financial markets, there is concern that his widely pledged rise in tariffs could be inflationary.The Republican has announced Jamieson Greer as his trade envoy, saying that Greer — who served as chief of staff to US Trade Representative Robert Lighthizer during Trump’s previous administration — had played a “key role” in imposing tariffs on China at that time.Bitcoin moved back past $95,000, having hit a record Friday and come within a whisker of the $100,000 mark on hopes that Trump will move to ease restrictions on the crypto market.After another record-breaking lead from earlier, Chinese markets rallied as data showed that China’s industrial sector narrowed losses in October.Meanwhile, the price of Arabica coffee hit the highest level since 1977 on concerns of limited supplies caused by drought in Brazil this year.- Key figures around 2145 GMT -New York – Dow: DOWN 0.3 percent at 44,722.06 (close)New York – S&P 500: DOWN 0.4 percent at 5,998.74 (close)New York – Nasdaq: DOWN 0.6 percent at 19,060.48London – FTSE 100: UP 0.2 percent at 8,274.75 (close)Paris – CAC 40: DOWN 0.7 percent at 7,143.03 (close)Frankfurt – DAX: DOWN 0.2 percent at 19,261.70 (close)Tokyo – Nikkei 225: DOWN 0.8 percent at 38,134.97 (close)Hong Kong – Hang Seng Index: UP 2.3 percent at 19,603.13 (close)Shanghai – Composite: UP 1.5 percent at 3,309.78 (close)Euro/dollar: UP at $1.0565 from $1.0489 on TuesdayPound/dollar: UP at $1.2678 from $1.2569Dollar/yen: DOWN at 151.17 yen from 153.08 yenEuro/pound: DOWN at 83.33 pence from 83.44 penceBrent North Sea Crude: FLAT at $72.83 per barrelWest Texas Intermediate: DOWN 0.1 percent at $68.72 per barrel

Mexico said Wednesday the United States will be shooting itself in the foot if President-elect Donald Trump implements his threats to impose 25-percent tariffs on Mexican imports.Trump on Monday fired the warning shot in a looming trade war with the top three US trading partners by threatening to impose huge tariffs on Mexico, Canada and China if they failed to stop illegal migration and drug smuggling into the United States.He said he would charge 25 percent tariffs on Mexican and Canadian imports and 10 percent on Chinese goods “above any additional tariffs” on the world’s second-biggest economy.Mexico’s Economy Minister Marcelo Ebrard warned that the cost to US companies of the tariffs on Mexico would be “huge.””Around 400,000 jobs will be lost” in the United States, he said, citing a study based on figures from US carmakers that manufacture in Mexico.He added the tariffs would also hit US consumers hard.Ebrard cited the US market for pickup trucks, most of which are manufactured in Mexico, as an example, claiming the tariffs would add $3,000 to the cost of a new vehicle.”The impact of this measure will chiefly be felt by consumers in the United States… That is why we say that it would be a shot in the foot,” he said, speaking alongside President Claudia Sheinbaum during her regular morning conference.Mexico and China have been particularly vociferous in their opposition to Trump’s threats of a trade war from day one of his second presidential term, which begins on January 20.Sheinbaum has declared the threats “unacceptable” and pointed out that Mexico’s drug cartels exist mainly to serve drug use in the United States.She has written to Trump to propose a meeting, which she says would happen “ideally” before he takes office.China has warned that “no one will win a trade war.”During his first term as president, Trump launched full-blown trade hostilities with Beijing, imposing significant tariffs on hundreds of billions of dollars of Chinese goods. China responded with retaliatory tariffs on American products, particularly affecting US farmers.The United States, Mexico and Canada are tied to a three-decade-old largely duty-free trade agreement, called the USMCA, that was renegotiated under Trump after he complained that US businesses, especially automakers, were losing out.

France does not get to decide whether a free trade deal between the EU and South America’s Mercosur bloc goes ahead — only Brussels does, Brazilian President Luiz Inacio Lula da Silva said on Wednesday.Lula added firmly: “I intend to sign this agreement this year.”Brazil’s position, stressed by Lula in a speech on Brazilian industry, crosses swords with that of France, which is determined to block the trade pact.The blockbuster deal between the 27-country European Union and Mercosur countries — Brazil, Argentina, Paraguay and Uruguay — has been 25 years in the making and would create the world’s biggest free trade zone.The contours of the agreement with the Mercosur bloc — which Brazil dominates — were agreed in 2019, but progress on completing the pact has stalled since. On Tuesday, France’s parliament overwhelmingly backed President Emmanuel Macron in rejecting the EU-Mercosur deal, which has prompted protests by French farmers fearing it would bring unfair competition.Trade policy for the whole European Union, however, is determined by the European Commission, run by Ursula von der Leyen, on the basis of what most EU member states agree.”If the French don’t want the agreement, they don’t get to blow the final whistle — the European Commission will blow that whistle,” Lula said.”Ursula von der Leyen has the power to make the agreement happen,” he said.France needs three other EU countries to join it to form a blocking minority against the deal. So far Poland has publicly rallied to its side. But Germany and Spain have both said they want the trade deal completed swiftly.At a G20 summit in Rio last week, Macron reiterated his opposition to the Mercosur deal and said France was working with Poland, Austria, Italy and other EU countries “that have the same concerns.”Von der Leyen, who also participated in the G20 summit, admitted on arrival that her commission had a “big task” in getting EU member countries behind the trade deal, adding: “The devil is always in the details.”The EU’s outgoing foreign policy chief, Josep Borrell, this week backed the deal being done by the end of the year.”This is about much more than just trade; it is above all a geopolitical issue,” he said in his online blog.That reflects European concerns that China is making trade inroads into Latin America — and that the world could be heading into a period of trade wars triggered under Donald Trump’s protectionist “America First” policies.

European stock markets mostly retreated Wednesday on concerns Europe could be the next tariffs target for US president-elect Donald Trump, who has announced a tough-negotiating hawk as his trade envoy.Trump plans to hit China, Canada and Mexico with hefty tariffs from January.”Investors are growing increasingly concerned that Donald Trump’s next tariff target is continental Europe,” said Dan Coatsworth, investment analyst at AJ Bell.For Europe, this would create “another potential headwind on top of the existing one in the form of lacklustre economic activity”, he added.While there were losses for Paris and Frankfurt stock markets approaching the half-way stage Wednesday, London managed to nudge higher.After another record-breaking lead from Wall Street on Tuesday, Chinese markets rallied as data showed that China’s industrial sector narrowed losses in October.Trump has announced Jamieson Greer as his trade envoy, saying he played a “key role” in imposing tariffs on China during his previous term in office.The dollar dropped against main rivals awaiting the release Wednesday of the Federal Reserve’s preferred gauge of inflation, as well as figures on jobless claims and economic growth.The Fed has indicated support for a gradual approach to future interest-rate cuts as the jobs market remains solid, according to minutes from their November policy meeting.Elsewhere, oil prices edged up having slid on news that Israel and Hezbollah in Lebanon had agreed a ceasefire. Crude won support from the prospect that key OPEC+ nations will delay a pick-up in production, which was due to begin in January, when they meet Sunday.Bitcoin sat around $93,500, having hit a record Friday and come within a whisker of the $100,000 mark on hopes that Trump will move to ease restrictions on the crypto market.London stocks bucked the downward trend across most European stock markets, rising 0.1 percent. Shares in EasyJet rose one percent in late morning deals after the UK airline posted a 40-percent rise in annual profits on strong demand for its package holidays.The Paris stock market slid more than one percent as a French political standoff over a belt-tightening draft budget for 2025 threatens to topple the government. Tokyo fell with Hello Kitty owner Sanrio tumbling more than 14 percent after major shareholders said they would reduce their stake in the firm.- Key figures around 1100 GMT -London – FTSE 100: UP 0.1 percent at 8,267.52Paris – CAC 40: DOWN 1.2 percent at 7,106.02Frankfurt – DAX: DOWN 0.6 percent at 19,186.60Tokyo – Nikkei 225: DOWN 0.8 percent at 38,134.97 (close)Hong Kong – Hang Seng Index: UP 2.3 percent at 19,603.13 (close)Shanghai – Composite: UP 1.5 percent at 3,309.78 (close)New York – Dow: UP 0.3 percent at 44,860.31 (close)Euro/dollar: UP at $1.0529 from $1.0482 on TuesdayPound/dollar: UP at $1.2615 from $1.2567Dollar/yen: DOWN at 151.39 yen from 153.06 yenEuro/pound: UP at 83.47 pence from 83.41 penceBrent North Sea Crude: UP 0.2 percent at $72.52 per barrelWest Texas Intermediate: UP 0.3 percent at $68.96 per barrel