ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • 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
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Mahindra & Mahindra stock hits 52-week high as brokerages bullish on counter post Scorpio-N launch; check target prices
  • GST Council meet begins today: Know agendas of Finance Minister Nirmala Sitharaman's led two-day meeting
  • Security deposit on commercial LPG connection goes up by Rs 1050 for 19-kg cylinder; check new rates
  • Cash-starved Sri Lanka to end fuel duopoly to ease fuel shortages
  • Xiaomi 12S series set to launch with Leica cameras on July 4: Check key details here
Read in App
Business News » World News

World stocks rise; sterling up ahead of May vote

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Major world stock indexes rose on Wednesday, with the S&P 500 supported by gains in U.S. bank stocks after strong earnings, while the pound edged up ahead of a no-confidence vote in British Prime Minister Theresa May`s government.

Investors saw potential for legislative deadlock forcing London to delay its departure from the European Union following the parliamentary defeat of May`s Brexit deal late Tuesday. The no confidence vote is expected at 1900 GMT.

May is expected to survive the vote, sponsored by the main opposition Labour Party. Expectations of a softer Brexit - perhaps incorporating the Labour Party`s idea of membership of a permanent customs union - gave support to the pound.

Sterling was last trading at $1.2868, up 0.08 percent on the day.

Stocks had mostly priced in the Brexit vote`s defeat and were trading higher. The pan-European STOXX 600 index rose 0.52 percent and MSCI`s gauge of stocks across the globe gained 0.28 percent.

On Wall Street, strong earnings from Bank of America and Goldman Sachs as well as a multibillion-dollar deal in the fintech sector kept stocks in positive territory.

"The fact that JPMorgan and Citi laid the groundwork for bank earnings not being as bad as markets thought made it easier for Goldman and Bank of America," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.

The Dow Jones Industrial Average rose 149.65 points, or 0.62 percent, to 24,215.24, the S&P 500 gained 10.4 points, or 0.40 percent, to 2,620.7 and the Nasdaq Composite added 33.52 points, or 0.48 percent, to 7,057.35.

The dollar rose against the euro as the euro zone single currency was pushed lower by worries about the zone`s economy, with the euro down 0.11 percent to $1.1402.

Earlier this week, data showed Germany barely escaped a recession in the second half of 2018 and European Central Bank chief Mario Draghi warned on Tuesday the euro zone economy was weaker than anticipated.

In sovereign debt markets, British government bonds underperformed versus German peers in early trade.

U.S. Treasury yields rose as stronger-than-forecast results from two major banks lifted Wall Street, reducing safe-haven demand for U.S. government debt.

Benchmark 10-year notes last fell 6/32 in price to yield 2.7272 percent, from 2.708 percent late on Tuesday.

Oil prices eased after climbing about 3 percent in the previous session, with worries about the global economy and forecasts of swelling U.S. production hurting sentiment.

Brent crude futures were last down 19 cents or 0.31 percent at $60.45 a barrel.

U.S. crude was last down 35 cents, or 0.67 percent, at $51.76 per barrel.

(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
Updated: Wed, Jan 16, 2019
10:30 pm
Reuters
RELATED NEWS
GST on online gaming, casinos, horse racing - They may be taxed like this! What Group of Ministers recommended? GST on online gaming, casinos, horse racing - They may be taxed like this! What Group of Ministers recommended?
LIVE: 47th GST Council Meeting - What happened on 1st day? What's slated for today? Latest updates from Chandigarh meet LIVE: 47th GST Council Meeting - What happened on 1st day? What's slated for today? Latest updates from Chandigarh meet
GST council clears proposal to remove tax exemptions on some items GST council clears proposal to remove tax exemptions on some items
15 more firms selected under PLI scheme for white goods 15 more firms selected under PLI scheme for white goods
JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half JP Morgan bullish on global markets in H2; rejects possibility of recession, sees inflation receding in second half

LATEST NEWS

NSE Co-location Scam: Sebi fines exchange with Rs 7 cr, imposes Rs 5cr penalty on Chitra Ramkrishna

GST Council Meeting: These two important agendas before council on Day 2 – know details

DCGI approves Serum Institute's indigenous mRNA Covid jab Covovax for emergency use between 7-11 years

Apple iPhone 14 series launch: Check latest updates - expected release date, price, specifications and more

Opening Bell: Nifty near 15,700, Sensex drops 500 points; all sectors turn red

New norms for safer tyre design to kick-in from October 1; expert picks Apollo tyres, JK Tyres for good gains

GST on online gaming, casinos, horse racing - They may be taxed like this! What Group of Ministers recommended?

June Auto Sales Preview: PV, CV may report healthy numbers; 2-Wheeler sales likely to disappoint – Brokerages picks these auto stocks as best bet

Porinju Veliyath-backed small-cap stock jumps 18%; know what’s fueling rally in counter

Closing Bell: Sensex down 150 points, Nifty below 15800 – IT, FMCG, Bank stocks drag most

  • 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
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV