europe stocks slump on poor us jobs data
Last Updated : GMT 04:18:21
Arab Today, arab today
Arab Today, arab today

Europe stocks slump on poor US jobs data

Arab Today, arab today

Arab Today, arab today Europe stocks slump on poor US jobs data

Washington - Arabstoday

European stock markets fell yesterday as traders brushed off monetary stimulus measures in Europe and China, and focused instead on disappointing jobs data in the US. London’s benchmark FTSE 100 slid 0.53% to close at 5,662.63 points, Frankfurt’s Dax 30 shed 1.92% to 6,410.11 points and in Paris the CAC 40 lost 1.88% to 3,168.79 points. In Madrid, the Ibex 35 index slumped 3.1% to 6,738.9 points and in Milan the FTSE Mib index was down 2.53% at 13,732 points as investor concerns about Spain and Italy’s strained public finances. In foreign exchange deals, the European single currency fell to $1.2302 from $1.2391 late Thursday in New York. In midday trading on Wall Street, the Dow Jones Industrial Average lost 1.41% to 12,714.19 points. The S&P 500 was down 1.24% at 1,350.66, while the tech-rich Nasdaq dropped 1.60% to 2,928.45. The US Labour Department said the world’s biggest economy generated a net 80,000 new jobs in June, well short of forecasts and a result that left the unemployment rate at 8.2%. The figures put the average job gains for the second quarter at 75,000 per month, a bad sign for US growth and consumer spending. “US data will now be in sharp focus over the next month, as further declines in indicators would surely build the case for (further stimulus) by the (US Federal Reserve which will) meet at the end of the month,” commented ETX Capital trader Ishaq Siddiqi. European stocks got only a slight boost on Thursday after the European Central Bank (ECB) cut its main interest rate by a quarter point to a record low 0.75% without announcing additional stimulus moves. In London, the Bank of England (BoE) maintained its main rate at a record low of 0.5% and announced £50bn ($78bn) in extra stimulus cash to boost Britain’s recession-hit economy. China’s central bank trimmed rates for the second time in a month, a surprise move which analysts said may indicate that the Chinese economy, the world’s second biggest, is slowing more quickly than expected. “The reaction to yesterday’s monetary stimulus from the ECB, BoE and (China) has failed to prompt further market gains and this is a worrying sign,” said economist Neil MacKinnon at VTB Capital. “It may be that the markets think non-conventional monetary policy is becoming increasingly ineffective and that the problem of a ‘liquidity trap’ has not been resolved.” A liquidity trap occurs when central banks pump cash into the financial system but banks hoard the money to ward off possible adverse events rather than lend it to customers and so help boost the economy. Asian markets mostly sank yesterday as the central bank attempts to stimulate the global economy failed to reassure wary investors. Tokyo closed down 0.65%, or 59.05 points, at 9,0120.75 and Seoul ended 0.92%, or 17.29 points, lower at 1,858.20. Hong Kong was flat, edging down 0.04%, or 8.49 points, to 19,800.64 while Shanghai bucked the trend to close up 1.01%, or 22.23 points at 2,223.58. Sydney closed down 0.27%, or 11.40 points, at 4,157.8. In other markets, Singapore’s Straits Times Index closed up 0.24%, or 7.08 points, to 2,978.55, Bangkok fell 0.14% or 1.72 points to 1,200.08  and Kuala Lumpur ended 6.12 points, or 0.38%, higher at 1,620.55. Taipei fell 19.19 points, or 0.26%, to 7,368.59, Manila slipped 7.30 points, or 0.14%, to 5,362.68 and Wellington fell 5.50 points, or 0.16%, to 3,478.70. In Asia trading, Gold was worth $1,594.70 an ounce at 1115 GMT, compared with $1,618.30 late Thursday, while on the currency markets the euro was changing hands at $1.2383, down from $1.2391 in New York late Thursday. Against the safe-haven Japanese currency, the euro dipped further to ¥98.88, from ¥99 in US trade. The dollar, meanwhile, was stable at ¥79.85, down slightly from ¥79.88 in New York trade. from gulf times.

arabstoday
arabstoday

GMT 03:39 2017 Friday ,24 November

European markets wobble amid US Thanksgiving holiday

GMT 22:09 2017 Thursday ,23 November

Bahrain Bourse daily trading performance

GMT 02:02 2017 Thursday ,23 November

Asian markets rally after Wall St lead, euro struggles

GMT 22:40 2017 Wednesday ,22 November

Bahrain Bourse daily trading performance

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance
Arab Today, arab today
Arab Today, arab today

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*

europe stocks slump on poor us jobs data europe stocks slump on poor us jobs data

 



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*

europe stocks slump on poor us jobs data europe stocks slump on poor us jobs data

 



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 PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
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 congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
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 Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
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 Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
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 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

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 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

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