logo
Plus   Neg
Share
Email

European Shares Seeking Rebound

asian-markets1_12jul18.jpg

European stocks may open a tad higher on Thursday as the dollar extended a rally after the release of strong producer price inflation data and oil prices bounced back after steep losses in the previous session amid supply worries.

The U.S. dollar held at a six-month high against the yen as traders await consumer price inflation figures later in the day.

Asian stocks are trading mostly higher on expectations that the U.S. threats to expand tariff hikes is bluff and bluster and trade agreements will ultimately be reached.

Oil steadied after going into free fall on Wednesday amid trade tensions and supply concerns, as Libya resumed production and Saudi Arabia reported a big jump in output for June.

Overnight, U.S. stocks fell to snap a four-session winning streak as oil prices plunged and the Trump administration's latest round of tariffs on Chinese goods rekindled fears of a full-blown trade war.

The Dow dropped 0.9 percent, the tech-heavy Nasdaq Composite shed 0.6 percent and the S&P 500 slid 0.7 percent.

European markets also pulled back on Wednesday as trade-war fears took centre stage once again. The pan-European Stoxx Europe 600 index gave up 1.3 percent.

The German DAX and France's CAC 40 index both tumbled by 1.5 percent while the U.K.'s FTSE 100 lost 1.3 percent.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Follow RTT