Make MENAFN My Home Page
 
  Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Paris stock market falls after attack, before French elections  Join our daily free Newsletter

MENAFN - AFP - 21/04/2017
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) The Paris stock market fell on Friday after the latest violent attack in the city and as traders awaited the weekend presidential election in France.

London also dropped following much weaker than expected British retail sales data, while Frankfurt gained as separate figures showed the eurozone economy grew at its fastest pace in six years in April.

Earlier, Asian markets built on Wall Street's rally as geopolitical fears gave way to fresh hopes for Donald Trump's stimulus after his top finance man said a US tax reform plan would be released "very soon".

In Europe, a known terror suspect shot dead a French policeman and wounded two others Thursday on Paris's Champs Elysees in an attack claimed by the Islamic State group days before a presidential election.

Global markets have taken a hit this month owing to concerns about US-Russia relations, tensions on the Korean peninsula and the president's failure to push through a key healthcare bill.

But the risk-off mood was smothered after Treasury Secretary Steven Mnuchin said the tax code overhaul promised by Trump was close. The reforms, along with promises for big infrastructure spending, were a key driver of a global equity rally since the tycoon's November election win.

The news was met with relief by Wall Street, with the Nasdaq leading a surge in all three main indices Thursday and hitting a new record high. The dollar, which has struggled in recent weeks against the haven yen, also broke out of its malaise before slipping back on Friday.

Adding to the dollar bounce were comments from a top Federal Reserve official saying he expected the central bank to hike interest rates three times this year.

"While we are no clearer on what this weekend's French election result will be, we at least received hints from Treasury Secretary Mnuchin," said Joshua Mahony, mrket analyst at IG trading group.

"The subsequent dollar and stock rally off the back of Mnuchi's comments have largely paved the way for today's trade."

In Asia on Friday, Tokyo's Nikkei closed up one percent as exporters were boosted by some weakness for the yen and comments from Bank of #Japan Governor Haruhiko Kuroda that he would maintain a loose monetary policy, despite an improvement in the economy.

On foreign exchange markets, the euro suffered a brief dive against the dollar after the Paris attack.

Attention now turns to this weekend's first-round presidential vote in France, with a four-way split leaving analysts unable to work out which two candidates are likely to win through a second phase.

While there are fears the far-right Marine Le Pen will qualify, observers believe the moderate Emmanuel Macron will beat her in next month's run-off.

However, there is unease that a win for Le Pen could lead to France's exit from the #EuropeanUnion and possible collapse of the bloc.

- Key figures at 1015 GMT -

London - FTSE 100: DOWN 0.1 percent at 7,110.39 points

Frankfurt - DAX 30: UP 0.2 percent at 12,052.51

Paris - CAC 40: DOWN 0.3 percent at 5,061.80

EURO STOXX 50: FLAT at 3,440.28

Tokyo - Nikkei 225: UP 1.0 percent at 18,620.75 (close)

Hong Kong - Hang Seng: DOWN 0.1 percent at 24,042.02 (close)

Shanghai - Composite: FLAT at 3,173.15 (close)

New York - Dow: UP 0.9 percent at 20,578.71 (close)

Euro/dollar: UP at 1.0720 from 1.0715 at 2100 GMT

Pound/dollar: DOWN at 1.2804 from 1.2812

Dollar/yen: DOWN at 109.13 yen from 109.31 yen

Oil - Brent North Sea: DOWN five cents at 52.95 per barrel

Oil - West Texas Intermediate: DOWN four cents at 50.67

burs-bcp/jh

MENAFN2104201701430000ID1095408486

 
 


AFP




Loading, Please wait....


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help