Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
Global Stocks Slip After Wall St. Sells04/25 06:20

   Global shares fell back on Wednesday, mirroring a sell-off on Wall Street 
triggered by worries over slowing growth and falling profits.

   TOKYO (AP) -- Global shares fell back on Wednesday, mirroring a sell-off on 
Wall Street triggered by worries over slowing growth and falling profits.

   KEEPING SCORE: France's CAC 40 edged nearly 0.1 percent lower in early 
trading to 5,440.32, while Germany's DAX slipped nearly 0.8 percent to 
12,456.33. Britain's FTSE 100 lost 0.4 percent to 7,392.47. U.S. shares were 
set to drift lower with Dow and S&P 500 futures both down 0.2 percent.

   ASIA'S DAY: Japan's benchmark Nikkei 225 shed 0.3 percent to finish at 
22,215.32. Hong Kong's Hang Seng lost 1.1 percent to 30,281.15. The Shanghai 
Composite index shed nearly 0.4 percent to 3,117.97. South Korea's Kospi lost 
0.6 percent to 2,448.81. Australian markets were closed for Anzac Day, a public 
holiday. Southeast Asian shares were also lower.

   THE QUOTE: "U.S. markets were rocked by both bond yields and corporate 
concerns overnight, seeing only few defensive sectors thriving on the 
comprehensive S&P 500 index. This could be a trend that carries through to the 
Asian session," says Jingyi Pan, market strategist at IG in Singapore.

   TAKEDA-SHIRE: Shares in Japanese pharmaceutical company Takeda 
Pharmaceutical Co. tumbled 7 percent to in Tokyo on Wednesday after the company 
confirmed it had revised its offer for an approximately 50 percent stake in 
biotech company Shire Plc to 46 billion pounds ($64.2 billion). Shire's board 
indicated that it would recommend that proposal to its shareholders, Takeda 
said in a statement.  The two companies have until May 8 to reach a final deal, 
they said.

   YIELDS QUESTION: Bond prices slipped again Tuesday. The yield on the 10-year 
Treasury note rose to 2.99 percent from 2.98 percent. Earlier it peaked at 3 
percent for the first time since January 2014. Low interest rates have played 
an important role in the economic recovery of the last decade, and the yield on 
the 10-year note is a benchmark for many kinds of interest rates including 
mortgages. It's been climbing because investors expect higher economic growth 
and inflation.

   ENERGY: Benchmark U.S. crude oil edged 7 cents higher to $67.74 a barrel in 
electronic trading on the New York Mercantile Exchange. It shed 1.4 percent to 
$67.70 on Tuesday. Brent crude, used to price international oils, gained 13 
cents to $73.99 per barrel.

   CURRENCIES: The dollar rose to 109.24 yen from 108.82 yen. The euro rose to 
$1.2193 from $1.2196.


(BE)

 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN