European stocks fell on Friday as French stocks and bonds took a battering from political turmoil, while elsewhere investors weighed up the U.S. rates outlook after a week of mixed signals.
France’s finance minister said the country faces the risk of a financial crisis if the far right were to win a snap election in the coming weeks. But Derambure added that the risks are “very different from 2017″ because the RN is not talking about taking France out of the European Union.The euro was down 0.6 per cent on the day at US$1.067175, its lowest in more than six weeks, in a move analysts said was due to the risk premium on European markets following the European elections last weekend, where gains by far-right parties dealt a blow to the leaders of France and Germany.
“It’s very likely that the last mile on the disinflation process will require some weaker growth and weaker demand … the numbers that we have seen this week are clearly going into that direction,” said Amundi’s Derambure. Japan’s Nikkei closed 0.24 per cent higher at 38,814.56, while Hong Kong’s Hang Seng dropped 0.94 per cent to 38,814.56.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Premarket: stocks under pressure as French shock election news adds to unease in event-packed weekU.S. inflation data as well as Federal Reserve and Bank of Japan meetings adding to the cautious mood
Read more »
Premarket: Global stocks retreat after record highsBond market borrowing costs and the U.S. dollar rose after the Fed nudged back rate cut expectations
Read more »
Premarket: Stocks advance ahead of Fed rate decision and U.S. inflation dataGreenback held firm ahead of a key U.S. inflation report and Federal Reserve policy decision that could determine the near-term outlook for interest rates
Read more »
Premarket: Stocks test footing ahead of U.S. inflation data, Fed meetingEuropean assets looked to stabilize a day after the announcement of a snap election in France had driven them lower
Read more »
Premarket: Global stocks near all-time highs ahead of expected ECB rate cutBut what the European central bank does after that remains subject to much debate
Read more »
Premarket: Stocks gain on rate-cut wagers as BoC decision, ECB meeting loomTraders expect the Bank of Canada to begin its rate-cutting cycle later this morning
Read more »