News Column

World stocks mostly decline as investors await Fed

June 17, 2014



HONG KONG, Sha'ban 18, 1435, Jun 16, 2014, SPA -- World stock markets mostly declined Monday as the turmoil in Iraq dampened sentiment and investors held back ahead of the Federal Reserve's monthly policy meeting later in the week, AP reported.

Japanese stocks slid as the yen strengthened and oil prices hovered at a nine-month high as fears grew that the violence in Iraq could escalate into a broader regional conflict, unsettling global financial markets.

In early European trading, France's CAC 40 fell 0.4 percent to 4,524.90 while Germany's DAX shed 0.3 percent to 9,885.46. The FTSE 100 index of leading British companies slipped 0.1 percent to 6,768.64.

U.S. stocks were poised to open lower, with Dow futures down 0.2 percent to 16,669.00. S&P 500 futures dipped 0.2 percent to 1,924.20.

In Asia, most benchmarks were lackluster but stocks in the region's two biggest economies moved strongly - in opposite directions.

Japan's benchmark Nikkei 225 sank 1.1 percent to close at 14,933.29 as the yen strengthened 0.1 percent to 101.93 against the dollar.

Shanghai Composite Index rose 0.7 percent to end at 2,085.98.

South Korea's Kospi edged 0.1 percent higher to 1,993.59 while Hong Kong's Hang Seng slipped less than 0.1 percent to 23,300.67. Australia's S&P/ASX 200 was rose 0.1 percent to 5,412.30.

Taiwan, Singapore and New Zealand benchmarks edged higher while Indonesia and the Philippines drifted lower.

In energy trading, benchmark crude oil for July delivery rose 35 cents to $107.26 in electronic trading on the New York Mercantile Exchange. The contract rose 38 cents to close at $106.91 on Friday.

The euro fell to $1.3527 from $1.3540.

--SPA

12:45 LOCAL TIME 09:45 GMT



All Rights Reversed for Saudi Press Agency Provided by SyndiGate Media Inc. (Syndigate.info).


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Source: Saudi Press Agency (Saudi Arabia)


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