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European stocks open steady

Nov 23 2018 10:39
Adam Haigh and Eddie van der Walt, Bloomberg

European stocks held steady as US equity futures pointed to a weaker open and Asian benchmarks declined. Oil dropped on signs of oversupply, heading for a seventh weekly loss.

Gains in banks were counterbalanced by declines in miners, leaving the Stoxx Europe 600 Index little changed, while shares on the Dow, S&P and Nasdaq all pointed lower with markets set to reopen following the Thanksgiving holiday.

Chinese Chinese equities led regional declines in Asia, with the technology sector weak on concern the US is ratcheting up a campaign against Huawei Technologies. The dollar and Treasuries were steady while the pound edged lower as the Brexit deal heads to the UK’s Parliament.

Falling energy prices are just one of several indicators that concern investors about the strength of global economic growth. Meanwhile, political turmoil in Europe, lingering uncertainty over Brexit and a trade war that’s engulfed the world’s biggest economies add to nervousness.

Elsewhere, emerging market shares fell while their currencies were steady. Bitcoin declined and is on course to lose more than 20% this week.

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equities  |  currency  |  markets
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