Home Banking Global Markets: European stocks retreated as pound strengthened

Global Markets: European stocks retreated as pound strengthened

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In international markets, the pound strengthened while Europe’s stocks retreated. European stocks have not been able to make their losses through the negative mode yet despite the losses of the US stocks. After the repressive comments of the chief economist of Bank of England’s there seen an acceleration in pound.

On the other hand, oil has risen by giving back its losses.  The Stoxx Europe 600 Index, though stabilizing in oil prices, has been heading for two more days. The end of the mission of the Crown Prince of Saudi Arabia and the good news from MSCI supported the upsurge of Saudi Arabia. Shangai stocks have risen following MSCI’s decision to add Chinese shares to global market indications.

Crude Oil and other weaknesses in the economy are reducing the effect of the Fed‘s announcement that the inflationary recession is temporary and reinforcing concerns that the Fed’s policy failure will inadvertently negatively impact the global economic recovery.

The index provider MSCI has postponed the decision on the status of Argentine stocks and this was perceived negatively by the investors. The Argentine stocks indexes are expected to decline in Merval, and the positions opened in Argentina are depreciating. MSCI will also evaluate Saudi Arabia’s involvement in endpoints.

The Stoxx Europe 600 Index dropped 0.3 percent and financial stocks became the most losers. MSCI Emerging Markets Index decreased by 0.4 percent. The Tadawul All-Share Index was 5.5 percent lower in Saudi Arabia. S & P 500 Index futures contracted less than 0.1 percent.

West Texas Oil (WTI) increased more than 2 percent on Tuesday to 0.4 percent after reaching its lowest level since August and reached $ 43.70 per barrel. After rising for five days, gold rose by 0.1% to 1,244.13 dollars per ounce.

The pound was 0.6% against the dollar and rose to 1.2706. The euro soared 0.2% after two days of losses and traded at $ 1.1151. The yen fell 0.1% against the dollar after a 0.1% rise on Tuesday and fell to 111.54. Bloomberg Dollar Spot Index fell 0.2 percent after rising 0.3 percent on Tuesday.

The US interest rates on 10-year treasuries rose by one base point to 2.17% after falling three base points on Tuesday. UK benchmark yields increased by five basis points.

The Shanghai Composite Index closed 0.5 percent below the MSCI’s decision after fluctuating between day-to-day gains and losses. Hong Kong’s Hang Seng Index fell 0.6 percent.


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