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31 May 2017
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World Stocks (The Total Investment & Insurance
Solutions)
Global stocks were mixed Wednesday as worries lingered over political
uncertainty in Washington while China was boosted by manufacturing data. The
British pound fell on concerns that the general election may be a tighter race
than expected. The Total Investment
& Insurance Solutions
KEEPING SCORE: France's CAC 40 rose 0.4
percent to 5,319 while Germany's DAX gained 0.5 percent at 12,659. Britain's
FTSE 100 rose 0.5 percent to 7,561. U.S. shares were set to rise, with Dow and
S&P 500 futures both up 0.1 percent.
The Total Investment & Insurance Solutions
TRUMP FACTOR: An ongoing probe into Russia's
meddling in the 2016 election has set off uncertainty about the administration
of President Donald Trump. National Security Adviser Michael Flynn has decided
to provide documents to the Senate intelligence committee, while Trump's
personal attorney, Michael Cohen, has rejected a House intelligence committee
request for information. Former White House staffer Boris Epshteyn confirmed he
has been contacted for information as part of the investigation.
CHINA DATA: An official monthly survey showed
that growth in China's factory activity was steady last month in a sign that
the recovery in the world's No. 2 economy is holding up. The purchasing'
managers index, or PMI, released Wednesday came in at 51.2 for May.
THE QUOTE: "This suggests further
stablization of the world's second largest economy and will allow policy makers
more room to carry out the de-leverage campaign in an attempt to reduce the
country's heightened debts," Margaret Yang Yan, analyst with CMC Markets
Singapore, said of the China data.
BRITISH RACE: The pound was volatile after
polls and surveys suggested the general election of June 8 might be closer than
many had expected. Prime Minister Theresa May's Conservative party had been
expected to win by a landslide but recent polls have shed doubt on that.
Investors are worried that a smaller majority could weaken the government's
ability to negotiate a good Brexit deal with the European Union. The currency
fell below $1.2800 on Wednesday before recovering slightly to trade down 0.2
percent on the day, at $1.2836. The
Total Investment & Insurance Solutions
ASIA'S DAY: Japan's benchmark Nikkei 225 fell
0.1 percent to finish at 19,650.57. Australia's S&P/ASX 200 added 0.1
percent to 5,724.60. South Korea's Kospi gained 0.2 percent to 2,347.38. Hong
Kong's Hang Seng inched down 0.1 percent to 25,667.10, while the Shanghai
Composite was up 0.2 percent at 3,117.18. The Total Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude lost 99 cents to
$48.67 a barrel in New York. It lost 14 cents on Tuesday. Brent crude, the
international standard, fell $1.22 to $50.62 a barrel in London.
CURRENCIES: The dollar fell to 110.78 yen
from 111.07 yen late Tuesday in Asia. The euro rose to $1.1217 from $1.1181.The Total Investment & Insurance
Solutions
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