China backs Turkey to overcome its economic crisis

It had climbed to 96.984, its highest since late June 2017 on Wednesday during a week in which a plunge by the Turkish lira and concerns over China's economic health hit emerging market currencies, driving up demand for the safe-haven greenback.

After spending most of the session lower, London's blue-chip FTSE-100 rallied in the final minutes of trading to close a couple points higher.

US stocks extended gains on Friday and risk sentiment improved following a Wall Street Journal report on potential progress in easing trade tensions between the United States and China.

MSCI's All-Country World index, which follows shares in 47 countries, rose 0.3 percent, though the index remained on track for its third straight weekly decline.

USA stocks climbed in afternoon trading after a Mexican economic official told reporters that trade talks between the United States and Mexico were "advancing well".

At a cabinet meeting, US Treasury Secretary Steven Mnuchin assured President Donald Trump that sanctions were ready to be put in place if an American pastor, being held in Turkey on terror-related charges, was not freed.

Paris closed marginally lower while Frankfurt dipped 0.2 percent.

He said: "I have just authorised a doubling of Tariffs on Steel and Aluminium with respect to Turkey as their currency, the Turkish Lira, slides rapidly downwards against our very strong Dollar! It was last down by about 4 percent.

At least 76 people overdose on K2 in New Haven, Connecticut

Investors, already anxious about Turkey's economy, were irked by a diplomatic and trade dispute with the United States over the continued detention of an American pastor Andrew Brunson on espionage and terror-related charges.

The talks come as the United States and Turkey, two major North Atlantic Treaty Organisation allies, are engaged in a bitter diplomatic and trade dispute over the detention of an American pastor accused of terror related charges that has helped drive the Turkish currency to record lows last week before recovering some of its losses in recent days.

Memories of past emerging market crises, such as the Asian financial turmoil of 1997 and Turkey's 2001 crisis, haunted investors this week and prompted selling across emerging market assets as a whole. That left emerging market stocks in a technical bear market, or a 20 percent drop from recent highs.

There was more gloom elsewhere, with European banks and copper also falling into bear market territory.

USA crude rose 0.58 percent to $65.84 per barrel and Brent was last at $71.73, up 0.42 percent on the day.

The Toronto Stock Exchange's S&P/TSX rose 98.06 points, or 0.60 percent, to 16,323.71.

West Texas Intermediate crude futures rose 0.6 percent, or $0.39, to $65.85 a barrel.

The Shanghai Composite Index .SSEC closed down 0.6 percent, while Hong Kong's Hang Seng index .HSI ended 0.8 percent lower.

Related News:

17 August 2018

Infinity War’s Scarlett Johansson is the Highest-Paid Actress of 2018
Coming in second on the list after Johansson is Angelina Jolie with $28 million - which is reportedly largely due to her upfront pay for Maleficent 2 .

17 August 2018

Isaiah Wynn out for season with torn Achilles
The New England Patriots and Philadelphia Eagles faced off for a rematch of Super Bowl LII, which Philly won 41-33. The team announced it was a left ankle injury for the Georgia product and his return to the game is unknown.

17 August 2018

The Royals canceled by E! after four seasons
The cast also included Tom Austen, Jake Maskall, Genevieve Gaunt, Victoria Ekanoye, Max Brown, and Rocky Marshall. Pop has been looking for a second signature series to join its flagship comedy Schitt's Creek .
17 August 2018

The OnePlus 6T will launch on T-Mobile for $550 this fall
The latest iteration of the OnePlus family brings us an all-new design on the outside, and more of what we already love on the ... The OnePlus 6T will be sold by T-Mobile when it launches in October, according to sources speaking to CNET .

17 August 2018

Daniel Bryan provides an update on his contract status with WWE
The good news is that Bryan has many potential dream matches awaiting for him in WWE . I would say it's likely I will sign with WWE ", Bryan said.

17 August 2018

Vampyr Coming to Television, Thanks to McG and Fox
But doing so, he must confront his nature as a blood-drinker and the awful temptation to feed on those he swore to protect... Vampyr is game developer Dontnod's follow-up to Life is unusual , which DJ2 Entertainment is also set to executive produce.
18 August 2018

Friend who found Bobbi Kristina Brown in tub dies of apparent overdose
Bobbi Kristina Brown , the daughter of Whitney Houston and Bobby Brown, died three years ago due to an overdose. We're told his friend became concerned after Lomas didn't come out for a while, and went to check on him.

17 August 2018

Real Madrid report Inter Milan to Federation Internationale de Football Association over Luka Modric
The Madrid side will not want to lose a player like Modric in the same window as Cristiano Ronaldo, who left for Juventus last month.

17 August 2018

Turkish Lira Rebounds After Qatar Pledges $15 Billion
Whatever action the United States takes looks likely to cause more pain for Turkish assets. President Donald Trump threatened in an overnight tweet .
17 August 2018

Nvidia shares slump as firm warns that crypto-mining boom is over
It also downplayed its gross margin forecast to 62.8 percent instead of the expected 62.9 percent analysts were hoping for. The prospect of the new design coming later this year may be causing some to hold off on purchases of its predecessor.

17 August 2018

Tottenham Confirm Move To New Stadium Has Been Delayed
And with the Premier League unlikely to reschedule the fixture, that presents a major problem of where the game will be played. Not least, in terms of tying up the contracts of existing players like Kane and fellow England worldwide Dele Alli.

17 August 2018

Smashing Pumpkins Were Considered For The 'Shrek' Soundtrack
Smash Mouth took time to respond to Exclaim! wrier Josiah Hughes, who asked for the band's thoughts on Corgan's claim. Another fan followed up, asking what song they would have chosen if Shrek didn't withdraw, and they had accepted.