Global Stocks Slip Amid Economy Concerns
November 10 2015 - 06:10AM
Dow Jones News
Global stocks fell Tuesday amid lingering concerns about the
health of the global economy and a potential U.S. interest-rate
rise before the end of the year.
The Stoxx Europe 600 was recently 0.1% lower, following a 1%
drop in U.S. stocks in the previous session as investors worried
about the impact of higher interest rates on equity markets.
Ultralow rates have boosted equities in recent years.
Most Asian bourses also fell Tuesday after a weak print of
China's consumer inflation reignited concerns over a slowdown in
the world's second-largest economy. The consumer-price index rose
1.3% in October from a year earlier, compared with a 1.6% rise in
September.
"The mood of investors has turned more sour as the prospect of a
Fed rate hike looms larger and a busy week of data from China began
in subdued fashion," said Ian Williams, an economist at
London-based broker Peel Hunt.
The Shanghai Composite Index slipped 0.2%, while Hong Kong's
stocks fell 1.4%. Japan's Nikkei Stock Average was up 0.2%, buoyed
by a weakening yen.
The dollar was 0.1% higher against the yen at 123.23.
Analysts said the reaction to China's weak data was fairly muted
in equity markets. "I think people are now saying the China story
is a little overdone," said IG analyst David Madden. "They're no
longer as jittery."
In currencies, the euro was flat against the dollar at
1.0757.
In commodities, Brent crude was 0.1% weaker at $47.12 a barrel,
while gold was 0.3% higher at $1,091.10.
Copper prices were 0.2% weaker after hitting a six-year low on
Monday on signs of declining Chinese demand.
In corporate news, Vodafone Group PLC raised its full-year
earnings guidance despite swinging to a first-half loss on
infrastructure costs. Its shares were 2.2% higher in early
trade.
Later Tuesday, investors will parse a U.S. small business survey
and wholesale inventories. A price measure could also offer a hint
at the overall direction of inflation. Federal Reserve officials
have said they hope to see inflation heading toward their 2% annual
target as they consider raising short-term interest rates.
Write to Chiara Albanese at chiara.albanese@wsj.com and Riva
Gold at riva.gold@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 10, 2015 05:55 ET (10:55 GMT)
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