EUROPE MARKETS: European Stocks Run Into The Red As Wall Street Sets Course For Pullback
2018年2月13日 - 7:27PM
Dow Jones News
By Carla Mozee, MarketWatch
Advances for miners, travel companies fail to lift Stoxx 600 out
of the red
European stocks fell Tuesday, as advances for mining and travel
shares weren't enough to guide the market toward a second
consecutive win.
How markets are moving
The Stoxx Europe 600 index shed 0.1% to 372.62, with the telecom
and technology groups losing the most. But the basic materials and
consumer services sectors were moving higher. On Monday, the
benchmark climbed 1.2%
(http://www.marketwatch.com/story/european-stocks-bounce-back-after-biggest-weekly-drop-in-a-year-2018-02-12),
the first win in three sessions.
Germany's DAX 30 index fell 0.3% to 12,245.82, and France's CAC
40 index slipped 0.1% to 5,132.10. The U.K.'s FTSE 100 was up 0.2%
to 7,191.24.
The euro bought $1.2326, up from $1.2393 late Monday in New
York.
What's driving the market
The volatility that's been shoving major stocks markets into
correction territory was creeping back into the European markets,
indicating that investors are still wrestling with concerns about
rising inflation and higher bond yields.
U.S. stocks climbed Monday, but that was followed up in Asia
with Japan's Nikkei Average falling while Hong Kong stocks surged
1.3%. Ahead of Wall Street's open on Tuesday
(http://www.marketwatch.com/story/third-straight-win-for-us-stocks-in-doubt-as-dow-futures-tumble-more-than-100-points-2018-02-13),
U.S. stocks were pulling back, with Dow futures dropping nearly 100
points.
But gains for metals prices such as copper and gold helped lift
up shares of European-listed mining companies. Metals prices
denominated in dollars found strength on the back of a softening in
the U.S. dollar
(http://www.marketwatch.com/story/dollar-slides-vs-yen-as-investors-weigh-up-recent-stock-gains-2018-02-13)
.
What strategists are saying
"European markets are failing to follow through on yesterday's
bounce and a decent performance overnight in Asia," said Neil
Wilson, senior market analyst at ETX Capital, in a note. "A lack of
volume yesterday on Wall Street suggests there is not a huge amount
of interest in this recovery just yet and may be a signal that this
is not a reversal in a secondary downtrend."
Stock movers
TUI AG climbed 3% after the vacation services company posted a
narrower net loss of 99.6 million euros ($112.7 million) for the
first quarter and backed its full-year guidance
(http://www.marketwatch.com/story/tui-narrows-net-loss-backs-2019-guidance-2018-02-13)
In the mining group, Anglo American PLC (AAL.LN) rose 1.4% and
Glencore PLC (GLEN.LN) moved up 1%.
Kering SA shares (KER.FR) fell 1.2% even as the French parent of
luxury goods maker Gucci posted net profit for 2017 that more than
doubled from a year earlier,
(http://www.marketwatch.com/story/kering-profit-lifted-by-gucci-yves-saint-laurent-2018-02-13)
to 1.79 billion euros ($2.20 billion).
Economic data
In the U.K., a reading on January inflation showed annual
inflation remained at 3% in January, compared with estimated
reading of 2.9%. Inflation is well above the Bank of England's
target of 2%.
Read:A U.K. rate rise in May? Analysts digest hawkish surprise
from BOE
(http://www.marketwatch.com/story/a-uk-rate-rise-in-may-analysts-digest-hawkish-surprise-from-boe-2018-02-08)
(END) Dow Jones Newswires
February 13, 2018 05:12 ET (10:12 GMT)
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