european stocks rally hits roadblock
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday