Dubai Telegraph - Stocks tepid in thin pre-Christmas trade

Gold climbed above $4,500 for the first time amid US military and economic pressure on Venezuela, while silver climbed to a fresh record above $72.

Geopolitical worries have grown as Washington continues to put pressure on Caracas with a blockade of sanctioned oil vessels sailing to and from Venezuela.

In a holiday-shortened trading session, London finished lower while Paris edged up.

Frankfurt was closed for the holiday.

Asian markets swung between gains and losses as traders wound down before Christmas.

Tokyo ended lower, while Hong Kong and Shanghai closed higher.

On Wall Street Tuesday, the S&P 500 hit an all-time high after figures showed the world's top economy expanded 4.3 percent in the third quarter, the fastest pace in two years and much quicker than expected.

The report provided some reassurance to investors about the economic outlook after a string of increasingly weakening jobs data.

However, other figures were less upbeat, with a gauge of consumer spending falling for a fifth successive month to its lowest level since February 2021 owing to worries about jobs.

With the economy appearing to be in better shape than expected, investors pared their bets on another Federal Reserve interest rate cut next month.

"The so-called Santa Rally -- the last five trading days of the year and the first two of the new year -- could deliver... gains," said Ipek Ozkardeskaya, senior analyst at Swissquote bank.

"And after that? Reality may bite," she added, as concerns rise over a potential bubble in the AI sector.

The yen extended its recent rebound against the dollar after Japan's Finance Minister Satsuki Katayama suggested authorities were prepared to step in to support the currency, citing speculative moves in markets.

South Korea's won also rallied after the country's central bank and finance ministry warned against the unit's excessive weakness.

- Key figures at around 1300 GMT -

London - FTSE 100: DOWN 0.2 percent at 9,865.86 (close)

Paris - CAC 40: UP 0.2 percent at 8,117.14 (close)

Frankfurt - DAX: Closed

Tokyo - Nikkei 225: DOWN 0.1 percent at 50,344.10 (close)

Hong Kong - Hang Seng Index: UP 0.2 percent at 25,818.93 (close)

Shanghai - Composite: UP 0.5 percent at 3,940.95 (close)

New York - Dow: UP 0.2 percent at 48,442.41 (close)

Dollar/yen: DOWN at 155.95 yen from 156.27 yen on Tuesday

Euro/dollar: DOWN $1.1785 from $1.1791

Pound/dollar: UP at $1.3506 from $1.3499

Euro/pound: DOWN at 87.24 pence from 87.34 pence

West Texas Intermediate: UP 0.3 percent at $58.57 per barrel

Brent North Sea Crude: UP 0.2 percent at $62.49 per barrel

S.Mohideen--DT