Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

GLOBAL MARKETS-Global shares little changed after central bank meetings

Published 2017-12-14, 02:14 p/m
© Reuters. GLOBAL MARKETS-Global shares little changed after central bank meetings
EUR/USD
-
US500
-
DJI
-
JNJ
-
PRU
-
DX
-
LCO
-
IXIC
-
TFCFA
-
US10YT=X
-
US30YT=X
-
GR10YT=RR
-
STOXX
-
MIAPJ0000PUS
-
MIWD00000PUS
-
DXY
-

* World shares near flat after ECB, BoE meetings

* Europe shares close down

* U.S. stocks down (Updates to Europe close, adds commentary)

By Stephanie Kelly

NEW YORK, Dec 14 (Reuters) - European shares closed down on Thursday after policy meetings from major central banks in Europe failed to provide momentum, while the Dow and the Nasdaq Composite were down as investors waited for more information on Republicans' tax overhaul.

MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.07 percent.

Both the European Central Bank and Bank of England left interest rates unchanged, as expected. The ECB promised to hold rates low for an extended period and even maintained a pledge to provide more stimulus if needed. decisions come a day after a U.S. Federal Reserve meeting where the central bank announced a widely expected interest rate hike, but left its rate outlook for the coming years unchanged. in bank stocks contributed to a downbeat mood for equities in Europe, and the pan-European STOXX 600 .STOXX index closed down 0.46 percent.

The Fed's less hawkish statements supported MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS , but its gains were pared to 0.17 percent.

The Dow Jones Industrial Average .DJI fell 25.06 points, or 0.1 percent, to 24,560.37, the S&P 500 .SPX lost 5.24 points, or 0.20 percent, to 2,657.61 and the Nasdaq Composite .IXIC dropped 9.45 points, or 0.14 percent, to 6,866.35.

Losses in healthcare stocks such as Johnson & Johnson (NYSE:JNJ) offset gains in shares of technology and consumer discretionary companies. Disney DIS.N struck a deal to buy Twenty-First Century Fox's FOXA.O assets for $52.4 billion in stock. Fox rose 4.73 percent and Disney 2.42 percent.

After the U.S. Federal Communications Commission voted to repeal net neutrality rules, U.S. stocks moved lower as tech shares trimmed gains. just a little bit of a hold on the market," said Quincy Krosby, chief market strategist at Prudential Financial (NYSE:PRU) in New Jersey. "The market is completely focused on the process of the tax reform. Certainly the deal with Disney and Fox should have helped push up the market, but the market is just waiting for the tax code."

EURO TURNS NEGATIVE

The euro EUR= fell 0.24 percent after the ECB revised its growth forecasts upward while sticking with its pledge to provide stimulus if needed. President Mario Draghi "is, frustratingly, on the one hand saying that the progress we have achieved and expect to achieve is contingent on continued accommodation, which doesn't speak to a central banker that's ready to pull the rug away from QE," said Richard Franulovich, a senior currency strategist at Westpac Banking Corporation in New York.

"But by the same token he is growing increasingly convinced that the recovery is broadening and more sustainable, and he's got growing confidence that they can hit their inflation forecasts, so there is enough there to keep euro trapped in current ranges," Franulovich added.

The dollar index .DXY , tracking the greenback against a basket of major currencies, rose 0.04 percent.

The Japanese yen strengthened 0.28 percent at 112.23 per dollar.

U.S. Treasury yields rose after surprisingly strong data on retail sales in November supported solid economic growth in the fourth quarter. The 30-year Treasury US30YT=RR last rose 11/32 in price to yield 2.7177 percent, from 2.735 percent late on Wednesday. 10-year notes US10YT=RR last fell 1/32 in price to yield 2.3529 percent, from 2.349 percent late on Wednesday.

In Greece, 10-year government bond yields GR10YT=RR fell, touching the lowest in almost a decade on Thursday.

Earlier this month, Greece and its euro zone creditors reached a preliminary agreement on reforms Athens needs to roll out under its bailout program, while economic data has proven stronger than anticipated. crude CLcv1 rose 0.67 percent to $56.98 per barrel and Brent LCOcv1 was last at $63.01, up 0.91 percent on the day. [nL4N1OE23N

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Global assets in 2017

http://reut.rs/1WAiOSC Global currencies vs. dollar

http://tmsnrt.rs/2egbfVh Global bonds dashboard

http://tmsnrt.rs/2fPTds0 Emerging markets in 2017

http://tmsnrt.rs/2ihRugV

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.