85196
World Stocks Stumble as US Yields Near 3% Barrier
World Stocks Stumble as US Yields Near 3% Barrier

World Stocks Stumble as US Yields Near 3% Barrier

World Stocks Stumble as US Yields Near 3% Barrier

World stocks slipped on Monday as investors braced for a blizzard of earnings from the world’s largest firms, while keeping a wary eye on US bond yields as they approach peaks that have triggered market spasms in the past.
The yield on 10-year US Treasuries hit its highest level since January 2014 at 2.979% in early European trade, as the spread over the German equivalent briefly touched its widest level in 29 years, Reuters reported.
Traders were also getting a global round of economic surveys that should show if economic softness in the first quarter was just a passing phase linked to wintery weather and the Lunar New Year holidays.
European equity benchmarks were fractionally lower on Monday as consumer goods companies edged lower and a key measure of business activity across the region held steady.
In equities, consumer goods company Reckitt Benckiser Group (RB.L) was leading the decliners on London’s FTSE 100 Index, 2.3% lower, followed by electricity distribution company National Grid, down by 2.2% and WPP, an advertising and public relations company, 2.1% lower. Bunzl, a distribution and outsourcing group, was down by 1.7%.
On Frankfurt’s DAX, Fresenius Medical Care,a kidney dialysis company, was 3.7% lower, followed by Henkel vz, a chemical and consumer goods company, down by 1.3% and Vonovia, a residential property company, 1.2% lower. Beiersdorf, a skin care company, was 0.8% lower.
And, on Paris’ CAC-40, Danone, a food products company, down by 1.5%, Publicis, an advertising and public relations company, 1.2% lower and Legrand, an industrial group, down by 1.1%.
The pan-European Stoxx 600 Index was 0.14% lower, London’s FTSE 100 Index was down by 0.02%, Frankfurt’s DAX was 0.23% lower and Paris’ CAC-40 was 0.16% lower at the time of writing.
Stocks lost ground on the Tokyo Stock Exchange, weighed down by US equities’ drop late last week. The 225-issue Nikkei average fell 74.20 points, or 0.33%, to end at 22,088.04. On Friday, it dropped 28.94 points. The Topix index of all first-section issues closed down 0.34 point, or 0.02%, at 1,750.79, declining for the first time in four market days. The index edged up 0.95 point on Friday.
Indian shares ended higher for a third consecutive session on Monday, driven by gains in IT and financial stocks, with software services exporter Tata Consultancy Services crossing $100 billion in market capitalization. The benchmark BSE index closed up 0.1% at 34,450.77, while the broader NSE index ended 0.2% higher at 10,584.70.
In Southeast Asia, Vietnam stocks plummeted nearly 4%, extending a market rout after a near 7% decline over the last two weeks, while most other stock markets in the region slipped as US bond yields rose to a multi-year peak.
Most other Southeast Asian stock markets slipped. The Thai index shed 0.6% as energy and financial stocks fell. Oil and gas company PTT Pcl closed 2.7% lower while financial services provider, Siam Commercial Bank PCl, dropped 1.8%.
Philippine shares ended marginally lower as financial stocks weighed on the benchmark. The Indonesian stock market slipped 0.47%, dragged down by consumer stocks, healthcare and financials.  
Singapore shares were the sole gainers in the region, erasing earlier losses in the session to close 0.17% higher. Singapore’s headline consumer price index rose 0.2% in March from a year earlier, compared with a 0.5% growth in February, data showed on Monday.

 

 

Short URL : https://goo.gl/CDWCFJ
  1. https://goo.gl/dASQpL
  • https://goo.gl/iqwJ6o
  • https://goo.gl/yJfxNc
  • https://goo.gl/JjQ7ms
  • https://goo.gl/uRS3Qb

You can also read ...

India Launches 888 Anti-Dumping Probes
The Indian government has initiated as many as 214 anti-...
Fitch Retains Philippine  Debt Rating
Global debt watcher Fitch Ratings kept the Philippines’...
Federal Reserve Board Chairman Jerome Powell speaks during a hearing before the Senate Banking, Housing and Urban Affairs Committee.
US Federal Reserve Chairman Jerome Powell said protectionism...
Shifting transactions from cash to digital payments holds great promise for  individuals, businesses and governments.
More than 23% of the world's economy operates out of sight of...
UN to Help Rebuild Gaza Economy, Create Jobs
Against the backdrop of rapidly rising tension, violence,...
Lloyds Loses Mortgage Market Share
Lloyds lost market share in UK mortgages last year as Royal...
EU to Fine Google $5 Billion
Google will be fined about €4.3 billion ($5 billion) by the...
ECB Research Says Stimulus Didn’t Favor the Rich
New research published by the European Central Bank pushes...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus