U.K. stocks boosted by China stimulus efforts

British stocks edged higher on Monday, with companies sensitive to Chinese demand getting a boost from the country’s efforts to limit the economic fallout from the deadly coronavirus.

The FTSE 100 UKX, +0.23% rose 0.3% to 7430.20, helped by gains by HSBC Holdings HSBA, +1.20%, which rose 1.2%; oil giant BP BP, +1.20%, which rose 1.6%; and miner BHP Group BHP, +1.09%, which rose 1.5%.

China took another step to boost its economy, with the People’s Bank of China cutting its one-year lending rate, as the finance minister said the country is planning targeted tax cuts.

Trading was light, with U.S. markets closed for the Presidents Day holiday.

Jupiter Fund Management JUP, +1.92% climbed nearly 4% after reaching a deal to buy another fund management group which has had declining outflows. It will acquire Merian Global Investors for £370 million in stock as well as another potential £20 million depending on performance. Merian managed £22.4 billion as of Dec. 31, generating management fees of £140 million per year. Jupiter said the deal will add to earnings by a low to mid-teen percentage from 2021.

Tullow Oil TLW, -3.98% slumped 4% after announcing it was abandoning a well offshore of Peru. Tullow said it was still positive about Peru’s wider offshore potential.

Rupee rises 8 paise against U.S. dollar

At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the U.S. dollar

The Indian rupee appreciated by 8 paise to settle at 71.29 against the U.S. dollar on Monday, helped by some moderation in global crude prices.

However, stronger U.S. dollar against key rival currencies and subdued domestic equities kept the rupee’s rise in check, according to forex dealers.

At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the U.S. dollar. During the session, it swung between a low of 71.48 and a high of 71.24.

The domestic unit settled at 71.29 (provisional) against the greenback, registering a rise of 8 paise over its previous close.

On the equity front, the BSE Sensex closed 202.05 points, or 0.49%, down at 41,055.69. The NSE barometer Nifty fell 67.75 points or 0.56% to close at 12,045.80.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.02% to 99.14.

Global crude benchmark Brent was quoted trading at $57.22 per barrel, down 0.17%.

Russia says U.S. using weapons in space an irreversible blow to security: RIA

MOSCOW (Reuters) – Russia said on Friday that plans by the United States to deploy weapons in space would deal an irreversible blow to the current security balance in space, the RIA news agency cited the foreign ministry as saying.

Russia does not have plans to solve problems in space using weapons, the foreign ministry added.

Suicide blast kills 10 in Pakistan city of Quetta

QUETTA, Pakistan, (Reuters) – At least 10 people were killed in a suicide blast that targeted a police vehicle in southwestern Pakistan on Monday, officials said.

Two police personnel were among those killed in the blast in the city of Quetta, the capital of Balochistan province, which borders Afghanistan and Iran.

“We have received 10 bodies so far and 35 injured in Civil Hospital,” a hospital official told Reuters.

Two police personnel were among the dead, a senior police official confirmed.

Market slips for third session; oil and gas, financial stocks drag

Of the Sensex constituents, 19 closed in the red and 11 in the green

Benchmark stock indices Sensex and Nifty on Monday closed in the red for a third session in a row, dragged by hectic sell-offs mainly in oil and gas and financial counters.

The 30-share BSE Sensex closed lower by 202.05 points, or 0.49%, at 41,055.69, while the broader NSE Nifty was down 67.75 points or 0.56% at 12045.80.

Of the Sensex constituents, 19 closed in the red and 11 in the green.

On the Sensex chart, ONGC, Sun Pharma, NTPC, Bajaj Auto and HDFC were the top losers.

Meanwhile, Titan, Nestle, TCS, Kotak Bank and Tata Steel emerged as major gainers.

Asian markets closed on a mixed note.

Thyssenkrupp shortlists two buyout consortia in elevator deal

FRANKFURT, Feb 17 (Reuters) – Thyssenkrupp on Monday said it has shortlisted two private equity consortia in the ongoing auction for its prized elevator division, adding it was hoping to soon resolve on whether to sell a majority of the unit or all of it.

The ailing conglomerate said it would prioritise negotiations with two private equity consortia: one consisting of Blackstone, Carlyle and the Canadian Pension Plan Investment Board and one led by Advent and Cinven . (Reporting by Christoph Steitz; editing by Thomas Seythal)

Danish troops to return to Al-Asad air base in Iraq on March 1: defense minister

COPENHAGEN (Reuters) – Denmark will send its military personnel back to the Iraqi al-Asad base on March 1, after last month temporarily moving some of them to Kuwait due to security concerns, the Danish Defence Minister Trine Bramsen said on Monday.

Denmark had around 130 personnel stationed at the Al-Asad base as part of the international coalition fighting Islamic State in Iraq and Syria.

Coronavirus impact on euro zone economy to be temporary – Centeno

BRUSSELS, Feb 17 (Reuters) – The head of the Eurogroup Mario Centeno said on Monday he expected the impact of the coronavirus outbreak on the euro zone economy to be temporary.

“We expect it to be a temporary effect,” Centeno told reporters in Brussels, adding that the EU should carefully assess developments also for the long-term. (Reporting by Francesco Guarascio @fraguarascio)