Global stocks mixed after Wall Street ends record-setting week

Market reaction globally: Global stocks were mixed on Monday following a series of key interest rate decisions last week by US Federal Reserve, Japan, China, and Britain. CAC 40 in Paris slipped 0.3 per cent to 7,481.56 after composite factory activity data for September fell below 50 threshold that separates expansion from contraction, signalling strong growth in French ecomy seen in August has evaporated.

A similar update on Germany's manufacturing sector, showed HCOB Manufacturing PMI, or purchasing manrs index, in September falling to 40.3, below expectations. Germany's DAX ded 0.4 per cent to 18,796.33. In London, FTSE 100 rose 0.4 per cent to 8,258.47.

futures for S&P 500 and Dow Jones Industrial Aver were little changed.

Chinese stocks got a lift after central bank lowered its 14-day reverse repurchase rate to 1.85 per cent from 1.95 per cent on Monday after opting to keep key lending rates unchanged last week. Markets h been anticipating a cut. Meanwhile, officials said People's Bank of China Goverr Pan Gongsheng would hold a news briefing to dress support for ecomy.

Hang Seng in Hong Kong slipped 0.2 per cent to 18,226.58 while Shanghai Composite index ded 0.4 per cent to 2,748.92. Markets in Japan were closed on Monday for a public holiday.

Japan's monetary policy remained in spotlight after Bank of Japan anunced on Friday that it would keep its benchmark rate unchanged at 0.25 per cent.

That weakened Japanese yen, which tumbled back from last week's peak of around 140 to US dollar. dollar was tring at 143.56 yen on Monday. Elsewhere, Australia's S&P/ASX 200 lost 0.7% to 8,152.90. Reserve Bank of Australia begins a two-day policy meeting on Monday. South Korea's Kospi climbed 0.3 per cent to close at 2,602.01.

On Friday, S&P 500 slipped 0.2 per cent from its record, closing at 5,702.55. Nasdaq composite fell 0.4% 17,948.32. Dow Jones Industrial Aver, meanwhile, ded 0.1 per cent to close at ar record high, at 42,063.36.

Last week Fed cut its main interest rate  for first time in more than four years, with more likely to come, ending a long run where it kept that rate at a two-dece high in hopes of slowing US ecomy eugh to stamp out high inflation. Inflation has subsided from its peak two summers ago and Chair Jerome Powell said Fed can focus more on keeping job market solid  and ecomy out of a recession.

Fed is still under pressure because hiring has begun to slow under weight of higher interest rates. Some critics say central bank waited too long to cut rates and may have damd ecomy.

Critics also say US stock market may be running too hot on belief Federal Reserve will pull off what seemed nearly impossible earlier: getting inflation down to 2% without creating a recession. Last week, also, Bank of England kept its main interest rate on hold at 5 per cent in wake of Fed's move.

This week will bring preliminary reports on US business activity, final revision for how quickly ecomy grew during spring and an update on spending by US consumers.

In or dealings early Monday, US benchmark crude oil lost 12 cents to $70.88 per barrel. Brent crude, international standard, gave up 8 cents to $74.41 per barrel. euro fell to $1.1096 from $1.1162.