News Column

World stocks struggle

January 17, 2014

! HONG KONG , Rabi'I 15, 1435, Jan 16, 2014 , SPA -- World stock markets struggled on Thursday as they fought to scrape out more gains a day after a key U.S. benchmark climbed to a new high on strong earnings and economic data, AP reported. Asian investors were initially reassured after the S&P 500 closed at its highest level yet, squeaking past its previous record set less than a month ago. A Federal Reserve survey that showed economic growth remained healthy also bolstered sentiment, as did optimistic comments about the state of the global economy by the World Bank and the head of the International Monetary Fund . In early European trading, France's CAC 40 dipped 0.2 percent to 4,322.80, while Germany's DAX lost 0.1 percent to 9.724.61. The FTSE 100 index of leading British companies was nearly unchanged at 6,820.09. U.S. stocks were poised to open lower. Dow futures fell 0.1 percent to 16,389.00, while broader S&P 500 futures shed 0.1 percent to 1,839.10. Asia markets were relatively muted as they closed, after they failed to sustain gains earlier in the day. Japan's Nikkei 225 swung into negative territory as the dollar's early rally against the Japanese yen faded. The index retreated 0.4 percent to close at 15,747.20. Hong Kong's Hang Seng climbed 0.4 percent to end at 22,986.41, and South Korea's Kospi added 0.2 percent to 1,957.32. Australia's S&P ASX 200 jumped 1.2 percent to 5,309.10. Mainland China's Shanghai Composite Index was practically unchanged at 2,023.70, while the smaller Shenzhen composite index dipped 0.1 percent to 1,046.17. In currencies, the dollar edged up to 104.76 yen from 104.72 in late trading Wednesday. The euro rose to $1.3607 from $1.3594 . In energy markets, benchmark crude for February delivery was down 8 cents to $94.09 a barrel in electronic trading on the New York Mercantile Exchange . The contract rose $1.58 to settle at 94.17 on Wednesday. --SPA 12:10 LOCAL TIME 09:10 GMT All Rights Reversed for Saudi Press Agency Provided by Syndigate.info , an Albawaba.com company


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Source: Saudi Press Agency (Saudi Arabia)


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