Monday, 27 January 2014

European stock markets posted fresh losses on Monday, with London leading the way


European stock markets posted fresh losses on Monday, with London leading the way, as fears of an emerging markets crisis continued to alarm investors and sent shares sliding in Asia overnight. Shares were also hit by predictions that the US Federal Reserve would trim its bond-buying stimulus programme on Wednesday, despite recent market volatility, and concerns over the strength of China’s economy.

In London the FTSE 100 fell by 1.7%, shedding 113 points by the end of the day to 6550, as the sell-off that began last week continued. Other European indices fluctuated, but mainly finished in the red, with the FTSEurofirst index of major companies finishing down 0.9%. The FTSE’s sharp decline was exacerbated by gas producer BG Group tumbling 13.7% after problems in Egypt and the US forced it to lower its forecasts, while Vodafone shed 3.8% after US rival AT&T said it had no immediate plans to launch a takeover.

The biggest losses were seen in Japan, where the Nikkei fell 2.5% as a bout of nervous selling gripped Asia. Hong Kong’s Hang Send index lost 2%. Emerging markets also suffered, with India’s Sensex falling by 2%. Wall Street opened slightly higher, after a heavy sell-off on Friday night. Commented by Otmane EL RHAZ.

No comments:

Post a Comment