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Tuesday, May 17, 2022

Stocks and oil rallies falter      

Stocks and oil rallies falter      London: Europe’s main stock markets ran out of steam Friday in an “uninspired” performance amid a dearth of economic data, dealers said.

London stocks turned flat, having won 0.5 percent the previous day on the weak pound after the Bank of England held interest rates but cut its 2018 economic growth forecast.

Frankfurt and Paris meanwhile declined by 0.3 percent and 0.4 percent respectively.

“European equity markets are mixed… as a lack of macroeconomic news has left traders uninspired,” said CMC Markets UK analyst David Madden.

“Stocks in Europe have had a good run recently, and this could just be a case of the bulls taking a breather.”

Asian bourses extended this week’s gains after another Wall Street rally, as traders welcomed below-forecast US inflation data that dented expectations for a sharp lift in US interest rates.

Copyright AFP (Agence France-Press), 2018

Source: Brecorder

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