European Shares Seen Up After Dutch Vote Result

Adjust Comment Print

However, with a slew of strong USA data in recent months having already been baked into prices, a global market has eased up in March, dented by concerns about Donald Trump's lack of movement on his promises to ramp up infrastructure spending and cut taxes.

European shares dipped on Tuesday, weighed down by bank and energy stocks, as well as uncertainty over elections in the Netherlands and a USA interest rate decision.

US stocks surged on Wednesday, while Treasury yields fell and the dollar weakened, after the Federal Reserve raised interest rates for the second time in three months but did not flag any plan to accelerate the pace of monetary tightening. Oil prices slid to three-month lows after OPEC reported a rise in global crude stocks and a surprise jump in production from its biggest member, Saudi Arabia, which came despite output curbs by the group.

The euro edged up but is struggling as investors nervously await the Dutch election outcome. The Fed's two day policy meeting ends on Wednesday, and may be followed by a series of short term rate hikes this year. Economists had been expecting growth of 0.75 percent while the central bank tipped growth of 1.0 percent on quarter.

Oil futures extended gains after climbing for the first time in a week on Wednesday on data showing a surprise drawdown in U.S. crude inventories. UK's benchmark index FTSE 100 went up 10.79 points or 0.15 percent to close at 7,368.64.

USA long-dated and benchmark Treasury yields edged lower on Tuesday after a drop in oil prices was viewed as a deflationary sign, but the drop in yields was limited as investors awaited the Federal Reserve's policy statement on Wednesday. The Nasdaq was flat, while the Dow and the S&P 500 posted losses.

Another factor impacting the loonie was USA oil inventories coming in at lower levels than expected.

USA two-year notes, which are considered most vulnerable to Fed policy, were last down slightly in price to yield 1.380 percent, from a yield of 1.372 percent late Monday.

Steve Agnew determined to show his managerial credentials at Middlesbrough
Former Scotland striker Joe Jordan has joined Middlesbrough's coaching staff to assist interim boss Agnew. Head coach Karanka left Boro, who sit in 19th place in the Premier League table, on Thursday.

Indexes: The German DAX 30 index was off 2 points at 11,987.84.

Oil prices rose after six sessions of declines, with the greenback-denominated commodity extending gains as the dollar weakened.

Brent futures dropped below their 200-day moving average for the first time since late November during the session.

Ive said the kiwi dollar then bounced back up when Australia's unemployment rate rose to a higher-than-expected 5.9% in February from 5.7% in January, although has faded.

USA crude climbed 0.2 percent to $48.84 a barrel, set to end the week 0.7 percent higher.

Seoul advanced 0.8 percent, Sydney ticked up 0.2 percent and Singapore was 0.8 percent higher, while there were also big gains in Wellington, Taipei, Jakarta and Manila.

In early European trade London climbed 0.7 percent, Paris added 0.8 percent and Frankfurt soared 1.2 percent. USA gold futures settled down 0.04 percent at $1,202.60.

Comments