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7 July 2017
 |
| Global stock markets (The Total Investment & Insurance Solutions) |
Global stock markets are mostly lower as investors fret over the
possibility of major central banks tightening their monetary policies and
monitor the Group of 20 summit, which begins Friday in Hamburg, Germany. The Total Investment & Insurance
Solutions
KEEPING SCORE: Germany's DAX was down 0.3 percent
at 12,349 while the FTSE 100 of Britain was flat at 7,340. France's CAC 40 lost
0.4 percent to 5,133. Futures were mixed, with Dow futures down 0.1 percent and
S&P futures up less than 0.1 percent. The Total Investment & Insurance Solutions
CENTRAL BANKS: Investors are wary of the idea
that central banks could start tightening the stimulus they have provided to
their economies in recent years. The U.S. Federal Reserve is gradually raising
interest rates and considering when to start unwinding bond purchases it had
made in recent years. Minutes from the European Central Bank's June meeting
also show it too is looking to nudge toward exiting its stimulus program. The Total Investment & Insurance
Solutions
ANALYST'S VIEW: "Investors sold assets
across the risk spectrum in overnight trading as ECB meeting minutes focused
attention on the coming withdrawal of stimulus," Michael McCarthy, chief
market strategist at CMC Markets, said in a daily commentary. "Investor
nerves are fraying ahead of this potentially high market-impact event." The Total Investment & Insurance
Solutions
G-20 SUMMIT: Terrorism, global trade and
climate change are among top items on the agenda for the leaders of the world's
biggest industrial and developing nations. Host German Chancellor Angela Merkel
said she hoped to find "compromises and answers" on a range of issues
at the two-day gathering. There's little disagreement on fighting terrorism,
but prospects of finding common ground on climate change and trade look
uncertain. The Total Investment & Insurance
Solutions
ASIA'S DAY: Japan's Nikkei 225 lost 0.3
percent to 19,929.09 and South Korea's Kospi fell 0.3 percent to 2,379.87. Hong
Kong's Hang Seng index dropped 0.5 percent to 25,340.85 while the Shanghai
Composite Index gained 0.2 percent to 3,217.96. Australia's S&P/ASX 200
sank 1.0 percent to 5,703.60. Most benchmarks in Taiwan, Singapore and
Southeast Asia were in the red.
OIL: Benchmark U.S. crude oil lost $1.16 to
$44.36 per barrel in electronic trading on the New York Mercantile Exchange.
The contract rose 39 cents to finish at $45.52 a barrel on Thursday. Brent
crude, used to price international oils, fell $1.17 to $46.94 per barrel in
London. It closed at $48.11 a barrel on Thursday, down 32 cents. The Total Investment & Insurance
Solutions
CURRENCIES: The dollar rose to 113.74 yen
from 113.19 yen while the euro slipped to $1.1408 from $1.1424. The pound
dropped 0.6 percent after disappointing economic data suggested the British
economic slowdown has extended into the second quarter.The Total Investment & Insurance Solutions
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