World markets mixed on growth doubts

World stocks turned slightly higher on Thursday following Britain secured a deadline from the European Union, eliminating the threat of a crash.

Trade recovered in Europe after losses in Asia, with France’s CAC 40 up 0.8% to 5,491, along with the DAX in Germany up 0.4percent to 11,948. Britain’s FTSE 100 rose 0.2percent to 7,437 following a lower open.

Wall Street was set for a slightly higher open as potential contracts for the broad S&P 500 index rose 0.2percent to 2,900. This to the Dow Jones Industrial Average also climbed 0.2%, to 26,219.

The European Union agreed early Thursday to expand the cutoff date for the exit of Britain by over six months, providing time to work out a plan for the nation’s passing.

Lawmakers have three occasions rejected a withdrawal program drafted by May along with other European leaders. Britain currently has until Oct. 31 to depart from the bloc, but worries remain that lawmakers will not agree to a deal by then.

“Six-and-a-half months seems a long time, however it isn’t in U.K. governmental conditions. We’ve got exactly the exact same hopelessly divided U.K. Parliamentthe same hopelessly divided Labour party, the same hated withdrawal agreement,” explained Michael Every, senior Asia-Pacific strategist in RaboResearch.

“In short, this can be a can-kicking exercise that doesn’t really kick the can very far or in a really helpful direction,” he added.

Asian markets before closed mostly lower as investors reacted to the launch of minutes of the U.S. Federal Reserve’s meeting in March. Although officials thought the central bank could leave interest rates unchanged for the rest of the year, many said their views could shift with incoming information.

The indication of flexibility placed markets at a”slightly soft disposition,” said Selena Ling, chief economist in OCBC Bank.

Hong Kong’s Hang Seng gave up 0.9% to 29,839.45 and the Shanghai Composite index totaled 1.6% to 3,189.96. The Kospi at South Korea was flat at 2,224.44. Australia’s S&P ASX 200 dropped 0.4percent to 6,198.70.

Shares dropped in Thailand, Taiwan and Indonesia but rose in Singapore.

ENERGY: Benchmark U.S. crude dropped 49 cents to $64.12 per barrel. It included 63 cents to settle at $64.61 per barrel on Wednesday. The contract gained $1.12 to $71.73 per barrel in London.

CURRENCIES: The dollar strengthened to 111.15 yen in 111 yen late Wednesday. The euro frees up marginally to $1.1279 from $1.1273, along with also the British pound slipped to $1.3084 from $1.3095.

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Ott reported by Madrid.



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