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 cautiously follow Wall Street''s surge

Stocks in Europe and Asia rose cautiously on Friday after Wall Street ended a volatile session with big gains, but fears of further price swings and worries about U.S. politics kept safe-haven currencies such as the yen and Swiss franc in demand. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Global stocks cautiously follow Wall Street''s surge
Stocks in Europe and Asia rose cautiously on Friday after Wall Street ended a volatile session with big gains. image source: Reuters
Written By: Reuters
Updated: Fri, Dec 28, 2018
04:16 pm
Reuters
RELATED NEWS
Wall Street notches biggest weekly loss since March as COVID-19 cases spiral Wall Street notches biggest weekly loss since March as COVID-19 cases spiral
US equities post modest weekly gains amid stimulus uncertainty, economic data US equities post modest weekly gains amid stimulus uncertainty, economic data
Wall Street finishes up as stimulus talks continue; S&P 500, Nasdaq register biggest weekly gains since July Wall Street finishes up as stimulus talks continue; S&P 500, Nasdaq register biggest weekly gains since July
Wall Street loses ground as Trump's positive COVID-19 test adds to uncertainties Wall Street loses ground as Trump's positive COVID-19 test adds to uncertainties
Global Markets: Wall Street closes higher as tech rally squashes virus fears Global Markets: Wall Street closes higher as tech rally squashes virus fears

Stocks in Europe and Asia rose cautiously on Friday after Wall Street ended a volatile session with big gains, but fears of further price swings and worries about U.S. politics kept safe-haven currencies such as the yen and Swiss franc in demand. 

European shares opened in positive territory after Thursday`s 1.7 percent retreat and were up about 1.4 percent at 0920 GMT, with most bourses and sectors in the black. 

They have not matched a two-day surge on U.S. indexes that saw the benchmark S&P 500 index gain 5.9 percent, its best performance since late August 2015 when the market was in the midst of a downturn over a slowing Chinese economy.

Asian stock markets also posted modest gains, with MSCI`s broadest index of Asia-Pacific shares outside Japan rising 0.8 percent. 

While Wall Street`s capacity to shake off an initial selloff and post one of its highest daily percentage increases has fuelled hope that some of the selling pressure is easing, investors in Europe remained wary.

"The volatility here at year-end is unlikely to be sustained, but without more encouraging signals from Washington, the markets will likely remain treacherous in the New Year," Marc Chandler at Bannockburn securities told clients. 

Volatility in Europe and in the United States has spiked to highs not seen since the sharp global correction in stock markets in February. 

The yearly picture for world stocks remains grim, with the MSCI world equity index, which tracks shares in 47 countries, losing close to 12 percent so far in 2018.

While stocks showed signs they might recoup more losses in the year`s final days, lingering doubts about the stability of the market sustained demand for safe-haven currencies. 

"Markets are a bit more cautious on risk appetite, with the Japanese yen and the Swiss franc gaining," said Lee Hardman, an FX strategist at MUFG in London. 

"The dollar continues to be soft across the board as volatile stock markets are reducing the relative safe haven appeal for U.S. assets."

The dollar extended overnight losses and was down 0.55 percent at 110.40 yen and was on track to lose more than 2 percent this month. 

Against the Swiss franc, it declined 0.3 percent to 0.9853 francs per dollar after slumping more than 0.8 percent the previous day. 
The euro was a shade higher at $1.1444. 

Oil prices rebounded and took back some of the ground lost this week, but remained close to their lowest levels in more than a year as rising U.S. inventories and concern over global economic growth kept markets under pressure.

Brent crude oil was up $1.10, or 2.1 percent, at $53.26 a barrel by 0906 GMT, having earlier risen more than 3 percent. It had dropped 4.2 percent on Thursday.

Spot gold, which has benefited this week from the global market turmoil, was just slightly higher at $1,276.33 an ounce following an ascent to a six-month high of $1,279.06 on Wednesday.

In fixed income, Italian yields rose as investors made space for the last auction of the year. 

A strong auction of zero coupon bonds on Thursday led to a mini-rally in Italian government debt as investors saw this is a good omen for today`s up to 5 billion euro bond sale, which caps one of the largest borrowing programmes.

The Treasury is hoping the auction will decisively show that Italy has turned a corner after months of volatile trading on the back of fractious talks between Rome and Brussels over its spending plans.

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:
Wall Street
RELATED NEWS
Wall Street notches biggest weekly loss since March as COVID-19 cases spiral Wall Street notches biggest weekly loss since March as COVID-19 cases spiral
US equities post modest weekly gains amid stimulus uncertainty, economic data US equities post modest weekly gains amid stimulus uncertainty, economic data
Wall Street finishes up as stimulus talks continue; S&P 500, Nasdaq register biggest weekly gains since July Wall Street finishes up as stimulus talks continue; S&P 500, Nasdaq register biggest weekly gains since July
Wall Street loses ground as Trump's positive COVID-19 test adds to uncertainties Wall Street loses ground as Trump's positive COVID-19 test adds to uncertainties
Global Markets: Wall Street closes higher as tech rally squashes virus fears Global Markets: Wall Street closes higher as tech rally squashes virus fears

LATEST NEWS

Bharat Bandh Today: Check FULL List of where it will impact daily life

Assembly Election Dates 2021 Announced - 5 noteworthy changes by Election Commission for polls in 4 states and 1 UT - West Bengal, Tamil Nadu, Assam, Kerala and Puducherry

PAN Aadhaar Link Online Last Date: This will happen if you don't do what Income Tax dept has said! Do now via SMS

UP Police Recruitment 2021: Notification for 9,534 vacancies released on uppbpb.gov.in| Check salary, age limit and other details

Indian Pro Music League Grand Opening: Salman Khan's 'mega selfie' on world's biggest music league with Riteish Deshmukh, Genelia D'Souza, Shraddha Kapoor, others now viral on social media

Colleges and universities reopen date: Students to go back to classrooms in Uttarakhand; Check all details

ASSEMBLY ELECTIONS 2021 dates: LIVE! West Bengal poll in 8 phases, Assam in 3, Kerala, Puducherry in one, Counting of votes for all 5 assembly elections on May 2: CEC Sunil Arora

Vodafone Idea: Vi brings Wi-Fi calling service in Delhi | Check full list of phones

RBSE exam 2021: Rajasthan Board Class 10, 12 date sheets released on rajeduboard.rajasthan.gov.in | Here is how to download

Gold Price outlook: After record highs of around Rs 56191 and closing the year with 28% gains, here is what has happened now

  • 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