1. Global stocks mostly lower on US drop, UK elections

Global stocks mostly lower on US drop, UK elections

Global stocks were mostly lower Tuesday, following a drop on Wall Street, as investors looked toward British elections later in the week.

By: | Published: June 6, 2017 2:42 PM
France’s CAC 40 lost 0.4 percent in early trading to 5,285.54. Germany’s DAX fell 0.3 percent to 12,784.56. Britain’s FTSE 100 was down 0.2 percent at 7,509.69.

Global stocks were mostly lower Tuesday, following a drop on Wall Street, as investors looked toward British elections later in the week.

KEEPING SCORE: France’s CAC 40 lost 0.4 percent in early trading to 5,285.54. Germany’s DAX fell 0.3 percent to 12,784.56. Britain’s FTSE 100 was down 0.2 percent at 7,509.69. U.S. shares were set to drift lower, with Dow futures shedding 0.1 percent to 21,154. S&P 500 futures were also down 0.1 percent at 2,432.10.

ASIA’S DAY: Japan’s benchmark Nikkei 225 dipped nearly 1.0 percent to finish at 19,979.90. Australia’s S&P/ASX 200 was down 1.5 percent at 5,667.50. South Korean markets were closed for the Memorial Day holiday. Hong Kong’s Hang Seng edged up 0.5 percent to 25,997.14, while the Shanghai Composite rose 0.3 percent to 3,102.13.

UK ELECTIONS: General elections are set for Thursday in Britain, although the campaign has paused in the aftermath of Saturday’s deadly attack in the London Bridge area. The election campaign was earlier halted for three days in the wake of the May 22 concert bombing in Manchester, which killed 22 people.

THE QUOTE: ”With U.S. markets moving less than a flicker from last Friday’s closing levels, Asian markets could find little to draw inspiration from,” said Jingyi Pan, market strategist at IG in Singapore.

ENERGY: Benchmark U.S. crude fell 23 cents to $47.17 a barrel. It fell 26 cents to $47.40 a barrel in New York on Monday. Brent crude, used to price international oils, slipped 29 cents to $49.18 a barrel in London.

CURRENCIES: In currency trading, the euro fell to $1.1249 from $1.1276 late Monday in Asia. The dollar weakened to 109.67 yen from 110.48 yen.

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