World Shares Mixed Friday 06/23 06:06
World stock markets were mixed on Friday as oil prices stabilized and
investors assessed Beijing's moves to tighten up on some Chinese companies as
well as the latest survey on eurozone economic growth.
HONG KONG (AP) -- World stock markets were mixed on Friday as oil prices
stabilized and investors assessed Beijing's moves to tighten up on some Chinese
companies as well as the latest survey on eurozone economic growth.
KEEPING SCORE: European shares fell in early trading. France's CAC 40 shed
0.3 percent to 5,266.34 and Germany's DAX lost 0.3 percent to 12,761.29.
Britain's FTSE 100 slipped 0.3 percent to 7,418.06. Wall Street was poised to
open higher, with Dow futures up 0.1 percent to 21,368.00 and broader S&P 500
futures rising 0.1 percent to 2,435.30.
ASIA'S DAY: Japan's benchmark Nikkei 225 index finished 0.1 percent higher
at 20,132.67 and South Korea's Kospi added 0.4 percent to 2,378.60. Hong Kong's
Hang Seng was practically unchanged at 25,670.05 while the Shanghai Composite
in mainland China swung between gains and losses before ending 0.3 percent
higher at 3,157.87. Australia's S&P/ASX 200 crept up 0.2 percent to 5,715.90.
EBBING ENERGY: Crude oil's extended decline this week and the effect it is
having on broader financial markets weighed on investor sentiment and dragged
down energy shares. Crude prices rose on Thursday for the first time in four
days but prices are still near their lowest level since August. Benchmark U.S.
crude rose 24 cents to $42.98 a barrel in electronic trading on the New York
Mercantile Exchange. The contract rose 21 cents to settle at $42.74 per barrel
on Thursday. Brent crude, the international standard, added 20 cents to $45.42
QUOTEWORTHY: "Falling oil prices continue to temper sentiment in global
macro markets," said Stephen Innes, senior trader at OANDA. "While the Nervous
Nellies take solace as oil prices based overnight, don't get too comfortable as
the oil patch narrative will likely be the primary catalyst in the coming
CHINA CLAMPDOWN: Mainland shares fluctuated as officials tightened up on
some companies. Authorities ordered three popular internet services, including
Sina Weibo, to stop streaming video after they violated censorship rules on
sensitive issues. Adding to the pessimism, reports in the South China Morning
Post newspaper and financial magazine Caixin on Thursday said the banking
regulator is tightening up scrutiny of companies behind a wave of recent
overseas acquisitions by ordering banks to check credit-risk exposure to Wanda,
Fosun, Anbang and HNA.
EUROPEAN GROWTH: A monthly survey revealed that economic activity in the
19-country Eurozone slipped to a five-month low in June. However, the IHS
Markit composite purchasing managers' index remained well into positive
territory, with job creation and business confidence still strong.
MEDICAL SHARES: U.S. health care stocks rallied after the Senate unveiled
its proposal to revamp how Americans get medical care. Investors were betting
that overseas companies could also benefit from the bill, with Australian
bionic ear maker Cochlear up 1.1 percent and blood plasma maker CSL up 1.7
CURRENCIES: The dollar slipped to 111.24 yen from 111.32 yen in late trading
Thursday. The euro rose to $1.1181 from $1.1154.