european stocks rally hits roadblock
Last Updated : GMT 08:56:26
Arab Today, arab today
Arab Today, arab today

European stocks rally hits roadblock

Arab Today, arab today

Arab Today, arab today European stocks rally hits roadblock

A global stocks rally hit a roadblock
London - AFP

A global stocks rally hit a roadblock on Thursday (Feb 18), with European markets mixed and Wall Street sliding as concerns about the global economic outlook returned to the forefront.

CMC Markets UK analyst Jasper Lawler noted however that Europe's main markets "have moved higher for four of the last five days" as concerns about low oil prices, a devaluation of the Chinese yuan and US rate hikes were alleviated.

"While none of these events have fundamentally changed anything, they have already begun to trigger a sharp bear market rally, which potentially has a lot further to go," he said.

London ended 1.0 per cent lower as commodity firms dragged down the FTSE 100, but Paris ended marginally higher and Frankfurt up 0.9 per cent.

While rebounding oil prices boosted shares for energy companies, there were still large concerns over general weaker demand for commodities, especially from China, hurting other commodities firms.

The OECD on Thursday cut its forecast for 2016 global growth to 3.0 per cent from 3.3 per cent owing to disappointing data, sluggish demand, weak investment and a high risk of financial instability.

"Financial instability risks are substantial," the 34-member Organisation for Economic Cooperation and Development said in its latest interim outlook, urging a strong collective response to combat sagging global growth, which it predicts will not surpass 2015's already pallid showing.

The Paris-based body trimmed its outlook for this year as growth slows in many emerging countries and advanced economies only expected to achieve modest recovery after a 2015 that saw the slowest growth in five years.

After tumbling heavily so far this year, US and European stocks had rallied Wednesday, with Paris winning 3.0 per cent, as strength in Chinese equities and oil prices lifted energy and commodities shares.

Asian stocks played catch-up Thursday, with most indices across the region producing strong gains, with a surge in crude futures providing some much-needed confidence as key producer Iran praised an output freeze by Saudi Arabia and Russia.

Traders appeared to shrug off figures that showed Japan fell back into a trade deficit in January as exports to China plunged.

However, Shanghai stocks closed slightly lower, ending two days of gains as tepid Chinese inflation figures in January failed to boost the market, dealers said.

Equities turned lower on Wall Street on Thursday, with the Dow down 0.2 per cent approaching midday. Dow member Walmart dropped 4.9 per cent after it cut its fiscal 2017 sales forecast due to store closures and the strong dollar.

Meanwhile, the euro fell back under US$1.11 for the first time in two weeks after the ECB released the minutes of its last monetary policy meeting, which economist Jessica Hinds at Capital Economics said pointed to further easing at their next meeting in March.

"Against a backdrop of increased global market turmoil, Governing Council members widely agreed that risks to both economic growth and inflation lay to the downside and, to a certain extent, were already materialising," she said in a note to clients.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

european stocks rally hits roadblock european stocks rally hits roadblock

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

european stocks rally hits roadblock european stocks rally hits roadblock

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday