International markets roundup

NEW YORK: Apple's results have weighed on US equities after the technology giant posted its first annual revenue decline since 2001, offsetting a boost from Boeing's strong profit, while oil prices recovered from steep early losses.

Shares of Apple, the world's most valuable public company, fell as much as 3.7 per cent - set for their worst day in six months - after the company said sales of its flagship iPhones fell for the third quarter in a row.

"The earnings season, on balance, has been much better than expected, said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets.

"But the glaring difference this quarter is that companies which meet or beat expectations get rewarded modestly while those that miss are seeing a more severe reaction."

The Dow Jones industrial average rose 0.17 per cent, to 18,199.33, the S&P 500 lost 0.17 per cent, to 2,139.43 and the Nasdaq Composite dropped 0.63 per cent, to 5,250.27.

LONDON: European shares fell maintaining a gloomy trend set in Asia and the United States, and with concerns about a global glut of oil looming over the market.

Mixed results from the continent's banking sector and losses in the mining sector pushed the pan-European STOXX 600 index down 0.38 per cent.

Germany's DAX fell 0.44 per cent to 10,709.68.

Britain's top share index hit a three-week low, with hotel operator Whitbread falling on a raft of negative broker comments and Antofagasta dragging down miners after a disappointing earnings update.

The blue-chip FTSE 100 index closed 0.85 per cent lower at 6,958.09, after falling to its lowest level since October 3 earlier in the day.

Whitbread fell 4.6 per cent, the top faller in the FTSE 100 index, after Deutsche Bank, Kepler Cheuvreux, Credit Suisse and Canaccord Genuity all cut their price targets for the stock, one day after it reported a slowdown in sales growth.

TOKYO: MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.95 per cent, while Japan's Nikkei reversed earlier losses to close up 0.15 per cent at 17,391.84 as the yen pulled back.

Hong Kong stocks fell the most in nearly two weeks, with market sentiment dampened by weakness on Wall Street and in China.

Investors also remained nervous given the US election next month, the Federal Reserve's policy meeting in December, and over the health of China's economy.

The Hang Seng index fell 1.0 percent, to 23,325.43, while the China Enterprises Index lost 1.4 per cent, to 9,698.85 points.

The Shanghai Composite Index lost 0.5 per cent to close at 3,116.31

WELLINGTON: The S&P/NZX 50 Index fell 106.67 points, or 1.5 per cent, to 6,896.2.

Market Data

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