Market Headlines – 28/6/2018

Posted 28 Jun 2018 by Alan McCarthy

 US equities fell 0.9% yesterday, amid renewed concern that President Trump’s administration will crack down on Chinese investment. The energy sector was a notable outperformer as oil and gas company shares gained with the increasing oil price.
 White House economic adviser Larry Kudlow said that President Trump’s decision not to adopt a more stringent approach on trade did not represent a softer stance on China.
 The US 10-year treasury yield fell to 2.83%, and the dollar appreciated against the Euro.
 European stocks gained 0.8% on Wednesday, led by a 2.5% gain in the oil & gas sector, as investors weigh US demands for allies to end all imports of Iranian oil by Nov. 4.
 News early yesterday that the US administration will adopt a softer stance than expected on Chinese technology investments buoyed European technology shares.
 European leaders meet today in Brussels for an important European Council summit at which migration, European reform and Brexit will be key topics of discussion.
 Asian stocks declined today as mixed messages on the US stance on trade weighted on investor sentiment. Japanese shares were broadly unchanged, while Chinese stocks fell 0.9%.

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