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8 May 2018
 |
| South Korea financial markets (The Total Investment & Insurance
Solutions) |
European stock markets are mostly lower after a day of gains in Asia, as
a decision by U.S. President Donald Trump looms on whether to pull out of the
U.S. nuclear deal. The Total Investment
& Insurance Solutions
KEEPING SCORE: Germany's DAX dropped 0.5 percent to 12,878 and the CAC
40 in France lost 0.5 percent to 5,502. Britain's FTSE 100 edged 0.1 percent
higher to 7,573. The future for the S&P 500 slipped 0.3 percent and the Dow
futures lost 0.2 percent, pointing to a downbeat start on Wall Street.
ASIA'S DAY: Japan's Nikkei 225 stock index added 0.2 percent to
22,508.69 and Hong Kong's Hang Seng index climbed 1.4 percent to 30,402.81. The
Shanghai Composite index jumped 0.8 percent to 3,161.50. South Korea's Kospi
gave up early gains to lose 0.5 percent, ending at 2,449.81, while Australia's
S&P ASX 200 edged 0.1 percent higher to 6,091.90. Shares were higher in
Singapore and Taiwan but fell 1.9 percent in Indonesia after the government
reported economic growth slowed in January-March. The Total Investment & Insurance Solutions
IRAN DECISION: Trump was due to announce Tuesday whether he plans to
carry out his threat to pull out of the landmark nuclear accord with Iran and
almost surely cause its collapse. There are no signs that European allies
enlisted to "fix" the deal had persuaded him to preserve the accord,
whose loss would reflect a growing rift between the U.S. and its allies in
Europe. Several companies, including Airbus, Boeing and Total, have struck business
deals in Iran and could be looking for exemptions if U.S. sanctions are imposed
again.
CHINA TRADE: China's exports expanded by 21.5 percent from a year
earlier in April, bouncing back from a contraction the previous month. Imports
expanded 12.9 percent year-on-year in dollar terms, leaving the country's
politically sensitive monthly trade surplus with the rest of the world at $28.8
billion, a turnaround from the previous month's $5 billion deficit.
THE QUOTE: "The widening China-US trade surplus reflects the
difficulty of significantly closing the trade gap between the two countries in
the near term, but it is unlikely to obstruct the constructive progress made
recently," Betty Wang of ANZ said in a commentary. The Total Investment & Insurance Solutions
PHARMA DEAL: The share prices of pharmaceutical companies Takeda and
Shire both rose 4 percent after the sides agreed on a takeover deal. The
Japanese company will buy Shire, which is based in Ireland but largely operates
in the U.S., for the equivalent of $62.4 billion in cash and stock.
ENERGY: Oil prices fell back after a rally that had them closing above
$70 a barrel for the first time since November 2014. On Monday, oil futures
climbed to their highest level since November 2014 as a May 12 deadline
approached for the U.S. to decide whether to remain in the nuclear agreement
with Iran. On Tuesday, benchmark U.S. crude oil dropped 91 cents to $69.82 in
electronic trading on the New York Mercantile Exchange. Brent crude, which is
used to price international oils, lost 76 cents per barrel to $75.41 per
barrel.
CURRENCIES: The dollar slipped to 108.95 yen from 109.07 yen on Monday.
The euro fell to $1.1873 from $1.1924.The
Total Investment & Insurance Solutions
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