News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Japan's Nikkei Closes at Two-Decade High

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The Nikkei Stock Average hit a two-decade closing high, a milestone for the nation's long-suffering stock market, driven by stronger earnings, an improved economy and a better environment for shareholders.

NIkkei Hits 21-Year High; Spanish Stocks Also Jump

Most European markets were roughly flat, after the rally in global stocks propelled Japan's Nikkei Stock Average to a 21-year high.

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.

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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.

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 focus on electric vehicles.

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.

(END) Dow Jones Newswires

October 11, 2017 05:15 ET (09:15 GMT)