On Thursday, financial markets remained slow before European Central Bank’s monthly policy meeting. Another reason for the markets’ slowdown is that investors are looking forward to the revelation of crucial U.S economic data.
For the entire week, markets have remained calm as investors maintain a close eye on the largest economy’s developments as well as the situation in the European zone.
In the European zone, stocks closed slightly lower before Draghi’s press conference. Draghi is briefing in Slovenia, which is one of the 17 nations in the indebted European zone. Amongst the stocks that closed marginally lower included DAX of Germany which dropped by 0.4 percent, settling at a value of 7,294 whereas France’s CAC-40 also dropped by the same amount, closing at 3,391.
Additionally, the leading index that incorporates Britain’s major shares, the FTSE 100 index also closed lower, dropping by 0.3 percent and settling at 5,806.
On the other hand, major indexes on Wall Street opened slightly higher, with S&P 500 futures and Dow futures inching 0.2 percent higher. The fate of these futures will depend on how Draghi’s press conference proceeds in Slovenia.
Moreover, stocks in Asia were slightly higher, as the Nikkei 225 index of Japan increased by 0.9 percent, settling at a value of 8,824.59, whereas the Hang Seng index of Hong Kong increased by 0.1 percent, settling at a value of 20,907.95.
Additionally, the benchmark price of oil in New York increased by 28 cents, settling at $88.42 per barrel. On Wednesday, oil prices dropped by $3.75, which in terms of percentage value is 4.1 percent.
Amid Draghi’s briefing and the overall slowdown in markets, the euro gained value, settling at $1.2939.
On Friday, stock markets will react to Draghi’s press conference and the U.S economic data. The slightest bit of pessimism or negative outlook could send stocks lower on the last trading day of the week.
|Tags: Central Bankâ, European, Germany, Index, marketsâ, meeting, percent, policy, reason, slowdown, Thursday, U.S., Wall Street, zone|
|Posted in News and Opinion|