International markets roundup

NEW YORK: US stocks have been buoyed by gains in the energy sector and a renewed pledge by President Donald Trump to chief executives of major US companies to bring back millions of jobs to the United States.

Trump is expected to introduce a series of proposals that could benefit companies, including tax reforms, a reduction in regulation and increased infrastructure spending that were a part of his election campaign.

Those promises have helped spur equities to record highs, with the S&P 500 up more than 10 per cent since the election.

Investors, however, are looking for more clarity on the proposals, which has kept the benchmark S&P index in a tight daily trading range. It has failed to register a move of at least one per cent in either direction since December 7.

Trump is scheduled to address a joint session of Congress on February 28.

In late trading, the Dow Jones Industrial Average was up 0.24 per cent at 20,825.25, the S&P 500 had gained 0.06 per cent to 2,364.35 while the Nasdaq Composite had dropped 0.46 per cent to 5,833.74.

LONDON: European shares fell, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings.

Shares in British bank Barclays reversed course during the day to end down 2.6 per cent, as a surprise boost to its capital reserves failed to convince.

Some analysts flagged concerns over the sustainability of the bank's capital level in relation to the accounting treatment of its British pension scheme.

Losses in Barclays and in HSBC, which continued its slide after a disappointing update earlier this week, resulted in a 1 per cent fall for Europe's banking index.

The pan-European STOXX 600 index ended down 0.1 per cent after hitting a 14-month high in the previous session.

Germany's DAX fell 0.42 per cent, with little impact from data confirming the country's economy quadrupled its growth rate in the fourth quarter.

London's FTSE 100 also fell 0.42 per cent, to close at 7,271.37.

TOKYO: Hong Kong stocks edged lower after Federal Reserve meeting minutes showed some policy uncertainty even as there was broad consensus on rates having to rise.

The benchmark Hang Seng index dropped 0.37 per cent, to 24,114.86, while the Hong Kong China Enterprises Index lost 0.2 per cent, to 10,521.53.

Most sectors retreated at the close in Hong Kong, led by resource stocks, which shed 1.1 per cent due to a weak commodities market on the mainland and the financial sector was down 0.6 per cent, as the Fed's mixed stance hurt investor confidence in banks.

China's main stock indexes snapped a three-session winning streak to end lower, as expectations of new asset management rules and property taxes weighed on the market.

The blue-chip CSI300 index fell 0.5 per cent, to 3,473.32 points, while the Shanghai Composite Index lost 0.3 per cent to 3,251.38 points.

Japan's Nikkei 225 closed flat on the downside, losing 0.04 per cent to close at 19,371.46.

WELLINGTON: The S&P/NZX50 Index gained 27.04 points, or 0.4 per cent, to 7,089.52.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.7675-0.0039-0.50%
    AUDUSD=X
    0.6154+0.0011+0.18%
    AUDGBP=X
    0.7271-0.0018-0.25%
    AUDEUR=X