Weakness among financial and retail stocks sent European shares down again on Wednesday, as a profit warning sent Provident Financial sharply down. Euro zone shares rose on Tuesday, bolstered by another day of gains for tech and retail sectors, while gains on Britain's top indices were weighed down by a few dour corporate updates.
French stocks outperformed upbeat European indices on Monday following a convincing parliamentary majority for President Emmanuel Macron, while banks bounced following upgrades and the retail sector recovered from last week's losses. A deal to prop up British Prime Minister Theresa May's minority government is not likely this week though talks with Northern Ireland's Democratic Unionist Party DUP to support her government are continuing, a DUP source told Reuters.
A renewed slump in oil prices to seven-month lows dragged down world stocks and long-term bond yields on Wednesday, as bets that global inflation and interest rates will stay lower for even longer began to build again. The dollar was little changed against a basket of currencies on Wednesday, hovering at a one-month peak as it consolidated gains from earlier this week on expectations of a possibly another Federal Reserve interest rate increase later this year.
Sterling rose after a Bank of England's chief economist Andy Haldane said he expected to back a rate increase this year. The currency sagged on Tuesday after BoE Governor Mark Carney said now was not the time to raise UK interest rates after three policymakers had voted in favor of a hike last week.
Commodity-linked currencies such as the Canadian dollar and Norwegian crown fell in step with lower oil prices. Top Republicans from the U. Congress and Trump administration vowed on Tuesday to complete tax reform by the end of The greenback rose earlier this week in reaction to comments from New York Fed President William Dudley who said a tightening U.
The dollar index was down 0.
The greenback weakened most on the day against the pound following Haldane's hawkish view, which ran counter to his perceived dovish reputation. Investors were also closely watching political developments, with Prime Minister Theresa May's Conservative Party still in talks with Northern Ireland's Democratic Unionists Party DUP to form a government.
Sterling was down as much as 0. Meanwhile, global benchmark oil prices touched seven-month lows on Wednesday on worries about oversupply. That put downward pressure on currencies whose economies are reliant on oil and commodity exports.
The Norwegian crown hit near a one-month low against the dollar, and last traded at 8. The pound jumped on Wednesday after a Bank of England policymaker said he expected to back an interest rate hike this year while commodity-linked currencies such as the Canadian dollar and Norwegian crown took a hit on declining oil prices.
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Prince Philip, the year-old husband of Britain's Queen Elizabeth, has been admitted to hospital with an infection and will miss the formal opening of parliament, but he remains in good spirits, Buckingham Palace said. Emerging equities fell for a second day on Wednesday, dragged down by weak oil prices and losses in Asian bourses that could see investment outflows as a result of MSCI's decision bull call spreads options include China in a benchmark share index.
Hong Kong stocks fell on Wednesday harbour town gold coast opening hours anzac day fears that MSCI's decision to include more mainland China stocks in a key benchmark index will threaten the financial centre's role as a key global investor gateway to China.
Commodity-linked currencies such as the Canadian dollar and the Norwegian crown were on reuters currency trading information charts back foot on Wednesday, dragged lower by declining oil prices, while sterling wallowed near two-month lows. Reuters is the news and media division profit.ly forex Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.
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Pictures Home The Wider Image Photographers Focus forex rates icici bank india Shares dogged by oil weakness; Treasury yield curve flattens 5: A very fraught Queen's Speech. China shares get MSCI nod in landmark moment for Beijing. Asia firms' confidence at three year-high on brighter global outlook: Twitter to let streaming video stars collect money from fans.
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Russian hackers targeted 21 U. Looming Chinese refinery cuts to hit oil demand. From Middle East to Argentina, France's Total bets on cheap resources. Estonia's Eesti Energia plans wind unit listing early Dollar moves sideway after gains, sterling rises. Toshiba picks Bain-Japan government group to buy chip unit, big hurdles remain.
Harley-Davidson enters race to buy Italian rival Ducati: Bain, Cinven collect FTSE under pressure as Provident Financial plummets, oil stocks slide. Haldane blows open Bank of England rate debate.
May will cut corporation tax to encourage economic growth. European shares slip further, Provident Financial plummets. European shares slide further, Provident Financial plummets.
European shares slide again, Provident Financial plummets. European shares slip as weak oil weighs on energy, mining stocks. European shares slip as weak oil weighs on energy stocks, miners.
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Consumer, tech lift euro zone shares; DAX hits fresh record. Consumer, tech lift euro zone shares; FTSE lags. European shares rise as France stocks gain, banks, retailers rebound. France, banks, retail rebound make for bright start for European shares. France, banks and retail rebound make for bright start for European shares. GLOBAL MARKETS-Shares dogged by oil weakness; Treasury yield curve flattens.
US STOCKS-Wall St slightly higher on healthcare; oil steadies. UPDATE 1-UK PM May's deal with N. Ireland's DUP unlikely this week- DUP source. US STOCKS SNAPSHOT-Wall St opens higher as tech stocks rise, oil steadies. GLOBAL MARKETS-Oil price at seven month low, equities struggle.
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US STOCKS-Wall St set to open slightly higher as oil steadies. FOREX-Dollar moves sideway after gains, sterling rises. FOREX-Pound jumps after BoE's Haldane speech, commodity currencies dip.
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UPDATE 2-Britain's Prince Philip hospitalised with infection but is in "good spirits". EMERGING MARKETS-Emerging assets mostly fall; MSCI move lifts Chinese A-shares, Saudi. GLOBAL MARKETS-Oil spill sends stocks, bond yields sliding. Hong Kong shares fall on fears MSCI inclusion will spur competition, outflows to China.
FOREX-Oil-linked currencies pressured by lower oil prices, sterling slips. Nikkei falls on strong yen, weaker mining stocks.
GLOBAL MARKETS-Oil slump spooks investors; China stocks get MSCI nod. More From Around the Web. Index Last Chg Gold 1, Follow Us On Twitter Follow Us On Facebook RSS Follow Us On LinkedIn. Reuters News Agency Brand Attribution Guidelines Careers.
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