Stocks nudge up in choppy trade as political uncertainty reigns
SYDNEY/LONDON (Reuters) -Global stocks edged up on Monday ahead of a week crammed with U.S. economic data that will be pivotal in setting expectations for interest rates, although heightened political uncertainty kept any new-year enthusiasm in check. In China, the yuan hit a 16-month low and blue-chip stocks traded at their weakest since late September, prompting the country's stock exchanges and central bank to defend its falling markets and soothe investor concern about the impact on the world's second biggest economy of Donald Trump's imminent return to the White House. The MSCI All-World index rose 0.1%, reflecting a slightly patchy performance in Europe, where the STOXX 600 was up 0.1%, while Germany's DAX - 2024's top-performing major European index, was up 0.2%.