Data provided by iNet BFA
Loading...
See More

World shares steady in holiday lull

Dec 24 2012 00:50 Reuters

Related Articles

Asia stocks waver ahead of cliff deadline

Yen slips as Abe steps up pressure on BoJ

US fiscal cliff risks European shares

Asian stocks dip on fiscal cliff fears

US fiscal cliff risks European shares

European shares slip on US fears

 

London - World stock, commodity and currency markets were steady on Monday, as the holiday lull set in across markets and offset tensions over the US budget dispute.

With only UK, French, Dutch and Spanish stock markets open in Europe and trading shortened ahead of Christmas celebrations, the FTSEurofirst300 opened almost flat at 1138.35 points to leave the MSCI index of global stocks virtually unchanged at 339.87.

Activity in other assets was also subdued, with spot gold steadying as investors took to the sidelines, while Brent oil eased 0.3% to $108.63.

Financial markets are also in limbo over $600bn of US spending cuts and tax hikes that kick in next month and threaten to hurt the economy. Lawmakers and President Barack Obama have abandoned talks to prevent this "fiscal cliff" until after Christmas.

"It's all about the US fiscal cliff issue," said Victor Shum, managing director at IHS Purvin & Gertz.

"The chances are that we will get a deal between the White House and the Republicans, but the fact that (House of Representatives speaker John) Boehner failed to get members to support his plan is worrying."

In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.1% in thin trading after falling to a near two-week low on Friday.

Japanese financial markets are closed for a public holiday and will resume trading on Tuesday. Most European bond markets were also shut.

In the currency market, the dollar eased 0.1% versus a basket of major currencies, while the euro was steady at around $1.3196.

The yen, however, neared a 20-month low versus the dollar after incoming premier Shinzo Abe renewed pressure over the weekend on the Bank of Japan to adopt a 2% inflation target. 



Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

markets
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No more nice-to-have shopping sprees

Fin24 user Asia writes how she managed to rehabilitate herself from splurging on feel-good items and keep clean from the bondage of lifestyle debt.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...