Friday 28 April 2017 14:30
Global equities trim sixth straight monthly advance
On Friday global equities retreated, trimming a sixth straight monthly advance, as geopolitical concerns linger and investors assessed corporate earnings before a report on growth in the world’s largest economy.
Nasdaq 100 futures edged higher after the index closed at a record. Alphabet Inc. and Amazon.com Inc. rose at least 3.5 percent in early trading after results topped estimates. In Europe, equities pared a third monthly gain as Barclays Plc dropped the most since November and became the latest bank in the region with trading results to lag those of American firms. Oil closed in on the $50 a barrel mark, almost recouping Thursday losses.
The markets are in a state of flux as President Donald Trump fights an uphill legislative battle to turn his words into action and kept concerns over North Korea alive. The administration’s tax-cut plan and mixed signals on its view of Nafta stirred markets this week. The U.S. GDP data will offer clues about the Federal Reserve’s interest rate path even as the prospect of a limited government shutdown looms. In France, voters are gearing up for a presidential election runoff after the first round eased some nerves.
The Stoxx Europe 600 Index slipped 0.2 percent as of 7:53 a.m. in New York, dropping for a second day after reaching the highest level since August 2015.
Japan’s Topix fell 0.3 percent. The gauge gained 2.9 percent for the week, the best performance this year.
Oil rose 1.2 percent to $49.57 a barrel, after tumbling 1.3 percent on Thursday. Crude is down 3 percent this month. Gold climbed 0.3 percent to $1,267.80. The metal is up 1.5 percent for April, its fourth monthly advance. Nickel led a rally in industrial metals, rising 1.9 percent to $9,510.00 a metric ton. Zinc gained 1.6 percent as workers at Peru smelter call strike.
This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management, TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: email@example.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.