Asian stocks closed higher but European shares fell, dragged down by pharmaceuticals. Apple and Facebook have put in place plans to help female employees freeze their eggs.
Here are five things that matter for markets now:
- U.S. company AbbVie (ABBV) said it was reconsidering its $55 billion takeover of U.K. drug maker Shire after the Obama administration's crackdown on tax inversion deals. Shares in Shire fell 27% on the news and drug makers across Europe are dragging down the indices.
- Chinese inflation slowed in September by more than the market expected. The Chinese consumer price index rose by 1.6%n last month, the slowest pace since January 2010, vs. expectations of a 1.7% rise. Economists say the figure is further proof of weakening domestic demand, but there are hopes that the government and the central bank will decide to stimulate the economy further. Elsewhere in emerging Asia, Bank of Korea, South Korea's central bank, cut its benchmark interest rate to a four-year low, risking sparking capital outflows in a bid to boost economic growth.
- Costco (COST) is entering the Chinese market with an online store on the Tmall platform, which belongs to Alibaba (BABA). It will sell a range of goods from food to healthcare products, as well as Costco's Kirkland brand.
- Toyota (TM) announced it would recall 1.67 million cars globally to address three separate defects. The recall is voluntary and addresses Toyota models Crown Majesta, Crown, Noah, Voxy, Corolla Rumion and Auris, and more than a dozen Lexus models.
- Technology companies Apple (AAPL) and Facebook (FB) have put plans in place to help women with the costs of freezing their eggs in order to plan pregnancies later in life to allow them to focus on their careers.