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Code: 42343 Visited: 1103 Publish Date: Aug 22 2017 - 2:56
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Stocks Rebound in Thin Trading; Gold, Bonds Slide: Markets Wrap
Tehran, Aug. 22 (SENA) - European stocks joined a rally across most Asian equities following three days of losses, though trading volumes were once again depressed. Havens including gold, the yen and bonds retreated even as the likes of Bridgewater Associates’ Ray Dalio said he was reducing risk.

Tehran, Aug. 22 (SENA) - European stocks joined a rally across most Asian equities following three days of losses, though trading volumes were once again depressed. Havens including gold, the yen and bonds retreated even as the likes of Bridgewater Associates’ Ray Dalio said he was reducing risk.

The Stoxx Europe 600 Index rebounded from the lowest in more than a week as miners and chemical makers led gains across almost every sector. U.S. equity-index futures were also in the green after the S&P 500 Index halted a two-day decline on Monday. European government bond yields followed Treasuries higher, while the Bloomberg dollar index ended a two-day slide. Crude advanced before U.S. government data forecast to show stockpiles fell. Bloomberg reported.

Investors seem to be getting over some of the sensitivity that characterized the past few days following political turmoil in Washington, fresh terrorist attacks in Europe and ongoing tension between the U.S. and North Korea. Nonetheless Dalio, the billionaire founder of the world’s largest hedge fund, said he’s “tactically reducing” risk because he’s concerned about growing internal and external conflict “leading to impaired government efficiency” in the U.S., according to a LinkedIn post Monday.

With little in the way of top-tier economic data out this week, markets are set to focus next on the annual conference of global central bankers hosted by the Kansas City Federal Reserve Bank at Jackson Hole, Wyoming. It starts on Thursday.

Among other key events looming this week:

·       Amazon.com Inc.’s bid for Whole Foods Market Inc. faces a shareholder vote on Wednesday.

·       Combined sales of new (data Wednesday) and previously owned (Thursday) U.S. homes probably edged up in July from the prior month, indicating a still robust real estate market held in check by rising property prices, economists forecast.

·       A verdict in the graft trial of Samsung Group heir Jay Y. Lee is due Friday.

·       Botswana, Hungary, Indonesia, Kazakhstan and Tunisia set monetary policy.

Here are the main moves in markets:

                                   Stocks

·       The Stoxx Europe 600 Index increased 0.5 percent as of 11:09 a.m. in London.

·       The U.K.’s FTSE 100 Index jumped 0.7 percent, the biggest increase in almost three weeks on a closing basis.

·       Germany’s DAX Index gained 0.7 percent.

·       Futures on the S&P 500 Index jumped 0.2 percent, the biggest increase in more than a week.

                                   Currencies

·       The Bloomberg Dollar Spot Index rose 0.3 percent, the largest advance in a week.

·       The euro sank 0.5 percent to $1.1757, the biggest dip in more than two weeks.

·       The British pound fell 0.5 percent to $1.2835, the weakest in eight weeks on the largest fall in a week.

                                     Bonds

·       The yield on 10-year Treasuries gained two basis points to 2.20 percent.

·       Germany’s 10-year yield climbed less than one basis point to 0.40 percent.

·       Britain’s 10-year yield increased one basis point to 1.076 percent.

                                   Commodities

·       West Texas Intermediate crude climbed 0.3 percent to $47.51 a barrel.

·       Gold fell 0.5 percent to $1,285.18 an ounce, the largest fall in a week.

                                   Asia

·       Japan’s Topix index fluctuated before ending the local session less than 0.1 percent higher, while the Kospi index gained 0.4 percent as did Australia’s main gauge.

·       Hong Kong’s Hang Seng Index rose 0.9 percent, outperforming other equity markets in Asia, on strong earnings results.

·       The Japanese yen fell 0.3 percent to 109.29 per dollar.

 

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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