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12 April 2018
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| Hong kong financial markets (The Total Investment & Insurance Solutions) |
Global stock markets recovered their poise Thursday
and the price of oil came off three-year highs as investors digested U.S.
President Donald Trump's defiant comments on the Middle East conflict.
KEEPING SCORE: Britain's FTSE 100 was down less than 0.1
percent to 7,257 and France's CAC 40 edged 0.3 percent higher to 5,290.
Germany's DAX gained 0.4 percent to 12,348. Wall Street was poised for small
gains on the open. Dow futures rose 0.4 percent and the broader S&P 500
futures were up 0.5 percent.
TRUMP TALKS TOUGH: In a tweet, Trump suggested that he wanted to
retaliate against Russia after the recent suspected chemical attack in Syria.
Separately, Saudi Arabia said it intercepted missiles fired by rebels in Yemen
as well as drones that targeted an oil facility. The prospect of escalating
conflict in the Middle East has sparked fears about tighter oil supplies,
driving crude prices to their highest since December 2014. The Total Investment & Insurance
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ASIAN SCORECARD: Japan's benchmark Nikkei 225 stock index
dipped 0.1 percent to close at 21,660.28 while the Kospi in South Korea ended
0.1 percent lower at 2,442.71. Hong Kong's Hang Seng fell 0.2 percent to
30,831.28 and the Shanghai Composite in mainland China slid 0.8 percent to 3,180.16.
Australia's S&P/ASX 200 lost 0.2 percent to 5,815.50. Indexes in Taiwan,
Singapore and Indonesia also lost ground but shares in Thailand and the
Philippines rose.
FED MINUTES: At their most recent meeting in March,
Federal Reserve policymakers said they felt the U.S. central bank might have to
raise interest rates faster than expected to keep up with quickening economic
growth and rising inflation that's coming close to their 2 percent target,
according to the latest minutes. Officials otherwise stuck mainly to the same
policy language they've used since they began raising rates in December 2015,
gradually dialing back the extraordinarily loose monetary policy that had
supported financial markets. Some analysts also noted that the meeting was held
before recent U.S.-China trade tensions flared up, which could have prompted
some officials to ease their views.
ENERGY: Oil futures eased after hitting a three-year high. Benchmark
U.S. crude lost 11 cents to $66.71 a barrel in electronic trading on the New
York Mercantile Exchange. The contract climbed 2 percent to settle at $66.82 a
barrel on Wednesday. Brent crude, used to price international oils, shed 18
cents to $71.88 a barrel in London. The
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CURRENCIES: The dollar rose to 107.12 yen from 106.79 yen
in late trading Wednesday. The euro slipped to $1.2345 from $1.2369.The Total Investment & Insurance
Solutions
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