(Adds U.S. market open, byline, dateline; previous LONDON)
* MSCI global equity gauge slips from near-record highs
* Wall Street falls as bill on Hong Kong revives trade
worries
* Oil prices pull back ahead of OPEC+ meeting
By Herbert Lash
NEW YORK, Nov 29 (Reuters) - Oil prices slumped and a gauge
of global equity markets on Friday edged away from an all-time
high it was near breaching earlier in the week as doubts
simmered over the outlook for signing an initial deal to ease
U.S.-China trade tensions.
Gold prices rose and stocks on Wall Street slipped after
China warned on Thursday it would take "firm counter measures"
against U.S. President Donald Trump's decision to ratify a bill
backing protesters in Hong Kong. "It is definitely a concern that the signing of the Hong
Kong bill will be seen as an impediment to an agreement," said
Rick Meckler, partner at Cherry Lane Investments in New Vernon,
New Jersey.
"At this point, investors are also using this as an
opportunity to take some profits," Meckler said.
MSCI's all-country world index .MIWD00000PUS , which
tracks shares in 49 countries, shed 0.39%, or about 3 points
lower than a record peak of 5550.63 it established in January
2018.
Country indices for Germany .GDAXI and France .FCHI
traded near break-even but the pan-European STOXX 600 index
.STOXX lost 0.34%.
The dollar fell from a six-week peak against a basket of
currencies as the still unsigned U.S.-China trade deal kept
investors on edge at the end of a holiday-shortened week due to
the Thanksgiving holiday on Thursday and early close on Friday.
On Wall Street, the Dow Jones Industrial Average .DJI fell
86.62 points, or 0.31%, to 28,077.38. The S&P 500 .SPX lost
7.85 points, or 0.25%, to 3,145.78 and the Nasdaq Composite
.IXIC dropped 20.17 points, or 0.23%, to 8,685.00.
The MSCI world index has climbed 2.5% this month, its third
straight month of gains, helped in part by hopes the world's two
biggest economies are moving toward a resolution. The trade war
has roiled financial markets and disrupted supply chains.
The index is up over 20% this year, helped by lower interest
rates and injections of government stimulus around the world.
Gold was on track to post its biggest monthly decline in
three years as investors sought clarity on the U.S.-China trade
front.
Spot gold XAU= added 0.3% to $1,462.38 an ounce.
The dollar index .DXY fell 0.09%, with the euro EUR= up
0.08% to $1.1016. The Japanese yen JPM= was flat versus the
greenback at 109.53 per dollar.
Euro zone inflation data was the main piece of economic data
in investors' sights in Europe.
Inflation accelerated faster than expected in November,
likely comforting European Central Bank policymakers - even if
some factors pushing up prices may be temporary. The latest "flash" data showed annual inflation jumped to 1%
this month from 0.7% in October, outpacing expectations for
0.9%, as volatile food prices rose more than predicted.
Germany's benchmark 10-year Bund yield was last at -0.36%
DE10YT=RR , little changed on the day and holding above
one-month lows hit the previous day.
French and Dutch yields were also off lows hit this week as
investors fretted about U.S.-China trade talks.
Benchmark 10-year notes US10YT=RR fell 6/32 in price to
yield 1.7878%.
Oil prices dipped in muted activity on the because of the
U.S. Thanksgiving holiday while OPEC watchers expect an
extension to a pact to throttle oil output beyond March but no
deeper cuts to be decided by the producer group and its allies.
Brent crude futures LCOc1 were down $1.28 at $62.59 a
barrel while West Texas Intermediate (WTI) futures CLc1 were
down $2.22 cents at $55.89.
MSCI ACWI, MSCI AXJ Nov 29 2019 https://tmsnrt.rs/2XX6DXk
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