News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Stocks Remain in Rally Mode

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The monthlong global stock rally continued early Wednesday, with Asian stocks mostly higher and Japan's Nikkei making a fresh run at its best close since 1996.

Fed's Kaplan: Open-Minded About 'Removing Accommodation'

Federal Reserve Bank of Dallas President Robert Kaplan said Tuesday he remains open-minded about removing the central bank's easing policies and will be monitoring the economy's progress in removing slack from the labor market.

China Nears First U.S. Dollar Bond Sale Since 2004

The Chinese government announced plans to raise $2 billion from international debt markets, its first such sale in over a decade.

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South Korea, China Let Currency Deal Expire

South Korea and China let their eight-year-old bilateral currency swap agreement expire, indicating cooling ties after Seoul decided to host a U.S. missile defense system.

The Reason Investors Love Spinoffs: Juicier Returns

Pfizer and Honeywell announced plans to hive off major business units, a reminder that spinoffs remain popular with executives as well as investors, who appreciate their long history of outperforming the broader market.

Wildfires Put $65 Billion of California Homes at Risk

More than 172,000 homes in the Napa and Santa Rosa metropolitan areas are at risk from the wildfires raging in northern California, with an estimated cost to rebuild of $65 billion, according to a report released Tuesday.

EU to Mandate Steep Auto Emissions Cuts

The European Union will seek to slash carbon-dioxide emissions from cars and vans by about a third in the decade starting 2021 and provide incentives for auto makers to concentrate on electric vehicles, an EU official said Tuesday.

Greece's Battered Banks Start the Return to Bond Markets

Greece's National Bank launched a bond Tuesday, the first time a Greek lender has tapped international credit markets in three years when the country came close to exiting the eurozone.

Mexico to Collect $150 Million From Catastrophe Bond

Mexico will receive $150 million from a catastrophe bond taken out in August against earthquakes and will use the money to partly fund reconstruction efforts, the finance ministry said Tuesday.

Trading Database Will Be Safe From Hackers, Developer Says

The developer of what will become one of the world's largest financial databases on Tuesday defended the project from industry critics who want regulators to stall the system, saying it presents a target for hackers

(END) Dow Jones Newswires

October 11, 2017 01:15 ET (05:15 GMT)