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Home / Business / Stocks let go of trade concerns; Italian Bonds Tumble: Markets Wrap

Stocks let go of trade concerns; Italian Bonds Tumble: Markets Wrap



(Bloomberg) – European stocks fell with US stock futures, and Asian stocks were mixed because positive sentiment from a strong Wall Street day was offset by trade tensions. Italy's government bonds fell when the government coalition fell.

The decline of the Stoxx Europe 600 Index was led by automaker stocks and stocks in Italy, where sales of both stocks and debt were triggered by the prospect of snap choices. Contracts on the three major US meters were all dipped. Asia shares were picked up, even though Shanghai shares fell for the seventh time in eight sessions, and Hong Kong shares also fell when Bloomberg reported that the White House is holding licensing decisions for US companies to restart business with Huawei Technologies . China's yuan had most of yesterday's gain, which had helped the S&P 500 index climb by nearly 2%.

In Japan, bond yields fell after the central bank changed purchases over three maturity zones in a row, indicating that the central bank is seeking to address a flattened yield curve. The yen rose higher for the third day. Tax capacity remained standing with gold, which hovered just over $ 1,500 an ounce.

Global equities are ending the week and are still struggling to recover from Monday's fall, as worries claim that China may continue to weaken the currency. The Asian country's producer price index contracted for the first time in nearly three years, dampening the outlook for producers' profits in the midst of the trade war with the US investor focus. Now it will go to the release of US producer prices on Friday. [19659005] "Trade issues are still worsening, and we're in for some confusion," Karissa McDonough, chief interest strategist at People's United Advisors, told Bloomberg TV. "It seems neither Trump nor China has any real incentive to come to the table."

Elsewhere, the oil rose higher, but was still poised for a huge weekly loss as investors weighed the worsening China trade battle against the latest steps from Saudi Arabia to stabilize the market.

Here are the key moves in the markets:

Shares

Futures on the S&P 500 index fell 0.6% from 9:21 pm London time. Stoxx Europe 600 Index fell 0.4% MSCI Asia Pacific Index increased 0.3%. Shanghai Composite Index fell 0.7%. Italy's FTSE MIB index fell 2%.

Currencies

The Bloomberg Dollar Spot Index gained less than 0.05%. Yuan on land fell 0.1% to $ 7,052 per dollar. The euro rose 0.1% to $ 1.1187. The Japanese yen rose 0.1%.

Bonds

The return on 10-year Treasuries dipped one basis point to 1.71%. The return on two-year Treasuries dropped two basis points to 1.60%. The spread of Italy's 10-year bonds over Germany's 25 basis point rise to 2.34 percentage points. Germany's 10-year return fell three basis points to -0.59%.

Items

Gold gained 0.1% to $ 1,501.79 per ounce. West Texas intermediate crude oil gained 0.4%. decreased 3.1% to $ 87.90 per tonne in Singapore.LME zinc futures fell 1% to $ 2,282.00 per tonne.

– With help from Cormac Mullen and Adam Haigh.

To contact the reporter about this story: Todd White in Madrid at twhite2@bloomberg.net

To contact the editor responsible for this story: Samuel Potter at spotter33@bloomberg.net

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