Global stocks mixed, with trade and U.S. politics in focus

Youkyung Lee, The Associated Press</span>
Published Friday, March 16, 2018 4:36AM EDT
Last Updated Friday, March 16, 2018 7:42AM EDT

SEOUL, Korea, Republic Of -- Global stock markets were mixed Friday amid caution about U.S. plans to raise tariffs on imports of steel and aluminum and uncertainty over White House politics.

KEEPING SCORE: Britain's FTSE 100 added 0.2 per cent to 7,152 and France's CAC 40 edged up 0.2 per cent to 5,277. Germany's DAX rose 0.5 per cent to 12,401. Futures augured a lukewarm start on Wall Street. S&P futures added 0.1 per cent while Dow futures held steady.

ANALYST'S TAKE: "Caution lingers amid risk factors from heightened trade tensions between U.S. and China, U.S. politics and geopolitical tensions in Europe," Mizuho Bank said in a daily commentary.

U.S. POLITICS: The Trump Organization said the company has fully co-operated with Robert Mueller's investigation in response to the report that it received a subpoena from Mueller that included a request for documents related to Russia.

U.S. TRADE: Trade remained in the spotlight after President Trump said CNBC contributor Larry Kudlow is replacing Gary Cohn as his top economic adviser after Cohn disagreed with Trump's decision to hike tariffs on steel and aluminum. Trade issues will likely top the agenda at a financial meeting of the Group of 20 industrial nations in Buenos Aires on Monday to Tuesday.

ASIA'S DAY: Asian markets finished mixed. Japan's Nikkei 225 fell 0.6 per cent to 21,676.51, while South Korea's Kospi edged 0.1 per cent higher to 2,493.97. Hong Kong's Hang Seng index dipped 0.1 per cent to 31,501.97. China's Shanghai Composite Index lost 0.7 per cent to 3,269.88. But Australia's S&P/ASX 200 rose 0.5 per cent to 5,949.40. Stocks in Taiwan and Southeast Asia were mostly lower.

OIL: Benchmark U.S. crude rose 13 cents to $61.32 per barrel in electronic trading on the New York Mercantile Exchange. The contract added 23 cents on Thursday. Brent crude, used to price international oils, added 6 cents to $65.18 per barrel in London, having risen 23 cents on Thursday.

CURRENCIES: The dollar dipped to 105.67 Japanese yen from 106.33 yen. The euro rose to $1.2322 from $1.2305.

Let's block ads! (Why?)