European Shares To Open On Subdued Note Amid Italy Worries
01 June, 2018, 19:30 | Author: Brooke Harris
However, with tensions running high and some political leaders pushing for quick elections, events in Italy remained extremely fluid.Over the weekend, Mr. Mattarella rejected a euroskeptic figure the 5 Star and the League had chosen as economy minister for a coalition government that appeared close to taking power.
Smaller companies, which tend to be more US -focused than the large multinationals in the Dow, fared much better than the rest of the market.
Italy's 2-year bond yields posting their biggest one-day jump in 26 years on Tuesday on fears that fresh elections in the euro zone's third biggest economy could strengthen the hand of anti-establishment parties.
Erin Browne, head of asset allocation at UBS Asset Management in NY, said that though fears of Italy's leaving the euro, or "Quitaly", waned on Wednesday, "We recognize the path to resolution is likely to be bumpy", saying the firm "downgraded our outlook on European assets to account for recent developments".
If Cottarelli does not pass a vote of confidence, as is almost certain, his government would not get a chance to set out such a budget. The July contract was last down 1.6 percent at $66.81 a barrel.
The euro on Thursday climbed to a three-day high of $1.1725, having risen 1.1 percent the previous day, its second-biggest daily gain so far this year.
The pan-European STOXX 600 fell 0.8 percent, with banks the worst-performing.
Adding to heightened geopolitical uncertainty, Spanish Prime Minister Mariano Rajoy will face a vote of confidence on Friday.
Apart from developments in Italy, investors are also looking to the upcoming euro zone consumer price data at 0900 GMT, which is expected to show inflation has accelerated to 1.6 percent in May.
The German DAX and France' CAC 40 index both shed around 0.6%.
CURRENCIES: The dollar rose to 108.88 yen from 109.37 yen.
The benchmark 10-year Treasuries yields in the USA touched the 2.8% mark, while the 10-year gilts' yields fell.
While investors are near unanimous in expecting the ECB to end bond purchases by December after a short taper, forecasts for the bank's first rate hike have shifted quite sharply in recent weeks, from around next April to possibly as late as September.
When the dollar gets stronger, it can hurt companies that export goods from the US, as it makes their products more expensive in overseas markets.
WALL STREET: Major U.S. benchmarks ended little changed on Friday.
United States crude oil fell 25 cents to $66.50 per barrel in electronic trading on the New York Mercantile Exchange.
Japan's Nikkei 225 slumped 0.9 percent to 22,280.91 while South Korea's Kospi was down 0.7 percent to 2,460.75. Brent crude, used to price global oils, lost 0.5 percent to $74.95 per barrel in London. Oil prices have slumped in the last week following reports that OPEC countries and Russian Federation could start pumping more oil soon.
Western portions of the Carolinas have seen more than 20 inches in the past two weeks, the National Weather Service said. The National Weather Service issued a flash flood emergency for central McDowell County, including the town of Marion.
The hunt for the missing plane formed one of the largest surface and underwater searches in aviation history. Ocean Infinity didn't rule out the possibility of resuming its search for MH370 in the future.
D'Souza will be the latest in a string of high-profile recipients of pardons that Trump has offered since taking office. Trump's allies that they will be rewarded for loyalty amid special counsel Robert Mueller's Russian Federation probe.
The police are believed to be investigating allegations that he placed bets during the recent IPL season through Sonu Jalan. Sources close to the channel claim that Arbaaz was being threatened by Jalan for an unpaid amount of Rs 2.8 crore.
Google Trends this week came out with a map that shows the top "how to spell" word searches for each state. The third through sixth places went to Abhijay Kodali, Jashun Paluru, Navneeth Murali and Sravanth Malla.
The innovative thing about them, however, is the material used for 3D printing, a special "bio-ink" created from stem cells. They combine unique printing techniques, cornea stem cells and a new bio ink to create corneas in just 10 minutes.
The Shanghai Composite index rebounded 1.8 percent to 3,095.47 and Australia's S&P ASX 200 climbed 0.5 percent to 6,011.90. ENERGY: U.S. crude oil fell 27 cents to $66.46 per barrel in electronic trading on the New York Mercantile Exchange.
These could come into force from June 20, although European Union officials said it might take a little longer. In Frankfurt, shares in Deutsche Bank fell sharply, losing seven percent at the close, after the U.S.
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