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12 June 2017
 |
| Global Stocks (The Total Investment & Insurance Solutions) |
Global stock markets fell on Monday, led by technology shares, as
investors look ahead to policy meetings this week by the central banks of the
U.S., Britain and Japan.
KEEPING SCORE: France's CAC 40 dropped 1
percent to 5,247, while Germany's DAX dropped 0.9 percent to 12,703. Britain's
FTSE 100 fell 0.1 percent to 7,518. U.S. shares were set to drift lower, with
Dow futures slipping 0.2 percent and S&P 500 futures 0.3 percent lower.
TECH SELL-OFF: A drop in technology stocks in
the U.S. on Friday echoed through markets on Monday. In Germany, Infineon
Technologies was down 5 percent and SAP 3.5 percent. Finland's Nokia was down
2.8 percent. Investors seem spooked the prospect that tech stocks might be
overpriced after months of strong gains. The Nasdaq fell 1.8 percent on Friday.
CENTRAL BANKS: Looking ahead, market players
are watching central banks' meetings in Britain and the U.S. later this week.
Analysts say the Fed is likely to raise interest rates, while the Bank of
England is expected to keep them unchanged. The Bank of Japan is also meeting
on monetary policy later this week, but little is expected to impact markets,
they say.
THE QUOTE: "The start of the week may be
quiet, but we'll get monetary policy decisions from the Federal Reserve, Bank
of England and Bank of Japan on Wednesday, Thursday and Friday, respectively.
The Fed will be of particular interest with markets now fully pricing in a rate
hike and instead more concerned with whether they'll signal another this year
or focus more on balance sheet reduction," said Craig Erlam, senior market
analyst at OANDA. The Total Investment
& Insurance Solutions
ASIA'S DAY: Japan's benchmark Nikkei 225
slipped 0.5 percent to finish at 19,908.58. South Korea's Kospi slipped 1.0
percent to 2,357.87. Hong Kong's Hang Seng lost 1.3 percent to 25,703.83, while
the Shanghai Composite index dipped 0.6 percent to 3,139.88. Trading was closed
in Australia for a national holiday. The
Total Investment & Insurance Solutions
ENERGY: Benchmark U.S. crude added 74 cents to
$46.57 a barrel. It had gained 19 cents on Friday. Brent crude, used to price
international oils, added 85 cents to $49.00 a barrel in London.
CURRENCIES: The pound continued to drop after
falling over 2 percent versus the dollar after the Conservatives lost their
majority in Parliament. The vote's outcome is creating disarray in Britain's
negotiations to leave the European Union, due to start June 19. The pound was
down at $1.2680, from $1.2721 on Friday. The dollar weakened to 109.88 yen from
110.36 late Friday. The euro strengthened to $1.1221 from $1.1182.The Total Investment & Insurance
Solutions
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