Global Stocks Drop
World Economy

Global Stocks Drop

World stocks, the dollar and oil all fell modestly on Monday as investors locked in recent gains before central bank meetings in the United States and Japan this week.
European and Asian equities both sank as 3.2 and 1.2% falls for miners and oil firms pushed the FTSEurofirst 300 down for a third straight day and Tokyo gave back a fifth of the 4% it made last week, Reuters reported.
Wall Street ESc1 looked set for a subdued start too with another flurry of company earnings from, among others, Halliburton and Xerox about to hit after some disappointing showings last week.
Signs that a three-month rally in stocks and commodities markets was cooling, a US Federal Reserve rate decision on Wednesday and a Bank of Japan policy update on Thursday meant there was little incentive for traders to be bold.
The dollar index was trading 0.3% lower on the day at 94.86. Against the euro, it dipped to $1.12, at the weaker end of a 10-cent range it has held for a year, while the yen rose to 111.16 after a walloping at the end of last week.
Sterling, meanwhile, had hit its highest in over a month after a UK media blitz from President Barack Obama calling for Britain to stay in the European Union saw bookmakers lengthen the odds on a Brexit vote in June.
The subdued start to the week for Europe’s markets, was further compounded by an unexpected dip in German business morale amid simmering global growth concerns.
The Munich-based Ifo economic institute said its business climate index, which surveys around 7,000 firms, edged down to 106.6 in April compared to a forecast of a rise to 107.0. That was still well above the survey’s long-term average, but also its fourth fall in five months.


Short URL : http://goo.gl/umIUt0
  1. http://goo.gl/pN0aRR
  • http://goo.gl/uwgw1H
  • http://goo.gl/ISHgDp
  • http://goo.gl/EKhqNC
  • http://goo.gl/cytpQw

You can also read ...

Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...