LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Global stocks break recovery streak with U.S. and China closed

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Feb 19, 2018
11:19 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

World stocks were set to post their first loss in five days on Monday, breaking a winning streak that saw them recover almost half their losses from a violent sell-off two weeks ago.

In a day of relatively quiet trading owing to market holidays in the United States and China, losses in Europe weighed on stocks globally, which had earlier been propped up by gains in Japan.

European markets had opened positive, setting up the MSCI world index for its sixth day of gains but, by afternoon, the pan-European STOXX index had slipped over half a percent.

A poor update from Reckitt Benckiser hit the consumer staples sector, outweighing gains among financials and strength in steel makers after the U.S. outlined proposals for hefty import curbs.

Shares in Tenaris, Outokumpu and Arcelor Mittal - which have facilities in the United States - were the biggest gainers in Europe, up between 1 and 4 percent.

The MSCI world index, which tracks shares in 47 countries, was down 0.1 percent. The index has recovered nearly half what it lost between late January and last week`s low. The 4.3 percent gain it ultimately posted last week was its best weekly performance since December 2011.INFLATION FEARS

January`s two-week rout, triggered by worries about a rise in U.S. inflation, had wiped more than $6 trillion off the value of global stock markets.

The sell-off took place despite global growth was helping to improve the corporate earnings outlook.

Just before the plunge, world shares were trading at 16.66 times expected earnings, the highest levels since 2004, according to Thomson Reuters Datastream. They are currently at 15.33 times.

"Investors knew market volatility would be low as the U.S. and Canada celebrate public holidays, and that weighed on enthusiasm in this part of the world," said David Madden, markets analyst at CMC Markets. "Dealers decided to lock in their profits from week."

Equity investors have drawn some reassurance from a fall in the VIX - a measure of implied volatility on the S&P 500 index, also known as Wall Street`s "fear gauge".

The index has remained below 20 for three days, last reading at 19.46. It spiked to a 2-1/2-year high of 50.3 two weeks ago, a jump that caused massive losses among investors who had bet equity markets would stay stable on a combination of solid economic growth and moderate inflation.

Greek government bond yields dipped after a ratings upgrade from Fitch that highlighted improving sentiment towards the indebted southern European state. Italian bonds came under pressure from jitters ahead of next month`s election.

Bond yields across the euro zone were broadly higher in the absence of any fresh drivers.

The minutes of the Fed`s last policy meeting, held amid the equities tumble on Jan. 30-31, are due on Wednesday. Besides the outlook on rates, markets will be keen to see what, if anything, the Fed makes of the gyrations in markets.DOLLAR EDGES UP

The dollar edged up from three-year lows against a basket of currencies.

The euro stood at $1.2396, backing down from Friday`s three-year high of $1.2556.

The dollar traded at 106.53 yen, bouncing back from its 15-month low of 105.545 set on Feb. 16.

The U.S. currency has been weighed down by various factors, including worries about widening U.S. trade and budget deficits and speculation that Washington might pursue a weak dollar strategy.

There is also talk that foreign central banks may be re-allocating their reserves out of the dollar.

Commodities, which enjoyed gains as the dollar weakened, were steady as it edged up.

Oil prices hit their highest level in nearly two weeks, lifted by the recovery in stocks and by tensions in the Middle East.

U.S. West Texas Intermediate crude rose 1.2 percent to $62.47 per barrel.

Brent crude rose over 1 percent to $65.63 per barrel.

Gold was flat.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

7th Pay Commission latest news: These government employees retirement age hiked in this state; check who all benefitted

EXCLUSIVE: Anil Singhvi reveals what may be a booster shot for Rane (Madras), Bosch shares

Tamil Nadu class 9, class 10 and plus results: Good news for students! Govt announces "all pass"

Stocks to Buy with Anil Singhvi: GAIL is Special Pick today for experts Kunal Saraogi, Rakesh Bansal

LPG gas subsidy status: How to check cooking gas subsidy online in bank account, all you need know

CBSE class 10 Syllabus reduced in this subject: Attention students! CBSE board exam 2021 syllabus has been cut for social science subject; Know how to download

Guardiola seeks improvement despite Man City's win over Borussia Monchengladbach

Central government employees, pensioners? How this FM Nirmala Sitharaman latest news today may impact you | EXPLAINED

Greaves Cotton: Sharekhan maintains Buy rating with the revised price target of Rs 150

India's Marvel! World's highest rail bridge arch on Chenab in Jammu and Kashmir nears completion, says Piyush Goyal

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved