Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Indexes
  3. Switzerland
  4. Switzerland
  5. Euro Stoxx 50
  6. News
  7. Summary
       EU0009658145

EURO STOXX 50

SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Wall Street closes down, European stocks end little-changed

09/09/2021 | 04:54pm EDT
A man wearing protective face mask walks in front of a stock quotation board outside a brokerage in Tokyo

WASHINGTON/LONDON (Reuters) - European stocks pared losses and Wall Street reversed earlier gains on Thursday as investors weighed uncertainty over central bank tapering and economic recovery due to the coronavirus Delta variant alongside strong U.S. weekly jobless claims data.

Major U.S. indexes ended weaker but stayed close to all-time highs.

The Dow Jones Industrial Average fell 0.43% to end at 34,879.38 points. The S&P 500 lost 0.46% to 4,493.28. The Nasdaq Composite dropped 0.25% to 15,248.25.

Federal Reserve Bank Governor Michelle Bowman voice Wednesday joined the growing number of policymakers who say the weak August jobs report likely will not throw off the central bank's plan to trim its $120 billion in monthly bond purchases later this year.

Earlier in the day, U.S. data showed Americans filing new claims for jobless benefits fell to the smallest number in nearly 18 months last week, offering more evidence that job growth was curbed by labor shortages rather than cooling demand for workers. The data stoked expectations the Fed may start early tapering of economic support.

After falling as much as 0.9% in morning trade, the pan-European STOXX 600 index ended largely unchanged around 467.57 points. The index had shed 1.5% over the past two days on fears of a more-hawkish-than-expected ECB.

"We're seeing some modest weakness mainly because the market is just in flux. There is no real clarity on when we will start to see the Fed and ECB start to pull back stimulus," said Edward Moya, a senior market analyst with OANDA in New York.

"Wall Street is still bullish. You're going to have a slow Fed as far as tapering and interest rate hikes. We will see a tremendous amount of accommodation to pump up this economy."

Euro zone bonds yields tumbled as the European Central Bank took its first tentative step in withdrawing COVID-era stimulus. Southern Europe led a fall in euro zone sovereign bond yields.

The euro rose 0.13% against the dollar, its first gain in four sessions, while French 10-year yields turned negative. [GVD/EUR]

Longer-dated U.S. Treasury yields fell after a strong auction for 30-year bonds closed out $120 billion in coupon-bearing supply this week. [US/]

Instead of hinting at any potential end date for its pandemic-era purchase programme, ECB President Christine Lagarde channelled the spirit of former British Prime Minister Margaret Thatcher, saying: "The lady isn't tapering."

Germany's 10-year yield, the benchmark for the bloc, fell. [GVD/EUR]

FRAGILE CHINA

MSCI's benchmark for global equity markets fell 0.42%. Emerging markets stocks fell 1.03%.

The UK's FTSE 100 dropped 1% with low-cost airline easyJet tumbling over 10% as it tapped shareholders for 1.2 billion pounds ($1.7 billion). [.EU]

MSCI's broadest index of Asia-Pacific shares ended down 1%, in its worst daily performance since Aug. 19 when markets worried about the Fed tapering its massive asset purchase programme.

Chinese tech giants Tencent Holdings Inc, NetEase Inc and Alibaba Group Holding Ltd had slumped 8.5%, 11% and 6% respectively after online gaming chiefs were summoned by authorities to check they were sticking to strict new rules for the sector.

"The global story is looking soft and it's being hit by the Delta variant plus concern about potentially the Fed still moving towards a taper," said Rob Carnell, Asia head of research at ING. "It's an unsettling combination of things."

Stocks in Hong Kong, where many heavyweight Chinese firms are also listed, shed 2.3%.

News that Chinese authorities had told gaming firms to stop focusing "only on money" and "only on traffic" had hurt companies with large gaming operations. Tencent fell 8.5%, Bilibili lost nearly 9% and NetEase slumped 11%.

Evergrande, the country's most indebted property giant, was hit with more turbulence.

Media reports the company would suspend some loan interest payments and payments to its wealth management products sent its shares down more than 10% at one point, although they recovered almost half of the drop on news that some creditors had agreed to loan payment extensions.

Korea's Kospi fell 1.5%, also under pressure from regulatory scrutiny of local tech players. Korean fintech names in the spotlight included Kakao Corp, which sank 7.2%, and Naver Corp, down 6.9%.

Australian stocks lost nearly 2% after payrolls data showed a sharp drop in jobs in the first half of August.

Bullion was buoyed by a slight retreat in the dollar. Spot gold prices rose 0.32% and futures settled up 0.4%, at $1,800 per ounce. [GOL/]

Oil prices fell on China's plan to tap state reserves and a smaller-than-expected drawdown in U.S. crude supplies.

In volatile trade, Brent futures fell $1.15, or 1.6%, to settle at $71.45 a barrel. U.S. West Texas Intermediate (WTI) crude fell $1.16, or 1.7%, to $68.14. That was the lowest settlement for both since Aug. 26. [O/R]

($1 = 0.7246 pounds)

(Additional reporting by Alun John in Hong Kong; Editing by Carmel Crimmins, Nick Zieminski and Richard Chang)

By Chris Prentice and Marc Jones


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 4.26% 2.69 End-of-day quote.-81.95%
EASYJET PLC -0.53% 596.6 Delayed Quote.-14.62%
EURO STOXX 50 0.80% 4188.81 Delayed Quote.17.91%
KAKAO CORP. -0.39% 127500 End-of-day quote.63.67%
NAVER CORPORATION -0.73% 407500 End-of-day quote.39.32%
TENCENT HOLDINGS LIMITED 0.79% 509.5 End-of-day quote.-9.66%
All news about EURO STOXX 50
10/22EURO STOXX 50 Index Ends the Week 0.14% Higher at 4188.81 -- Data Talk
DJ
10/22Eurostoxx 50 : Evergrande relief, earnings prop up European stocks
RE
10/22STOXX EUROPE 600 : European Bourses Higher Midday on China Property Outlook; Tech Sector G..
MT
10/21EURO STOXX 50 Index Ends 0.39% Lower at 4155.73 -- Data Talk
DJ
10/21Eurostoxx 50 : European stocks recoup most losses; weak outlook hits SAP
RE
10/21STOXX EUROPE 600 : European Bourses Track Lower Midday on Energy, Supply-Chain Outlooks
MT
10/20EUROPE : European stocks hit 6-week highs as Nestle shines in mixed bag of earnings
RE
10/20EURO STOXX 50 Index Ends 0.13% Higher at 4172.17 -- Data Talk
DJ
10/20STOXX EUROPE 600 : European Bourses Inch Higher Midday on Earnings, Interest Rate Outlooks
MT
10/19EUROPE : European stocks rise as defensive buying helps offset losses on downbeat earnings
RE
More news
News of the index components EURO STOXX 50
10/23TOTALENERGIES : Environment Watchdogs Slam Arrest of Ugandan Activists Protesting Total Oi..
AQ
10/23ALLIANZ : Igboho Not a Terrorist, Counsel Replies AGF
AQ
10/23DEUTSCHE TELEKOM : Antitrust Bites – Newsletter April 2021
AQ
10/22BANCO SANTANDER S A : Fundamental Change - Form 6-K
PU
10/22ENEL S P A : publishes 2021 third quarter and nine months Group operating data Report
PU
10/22DAIMLER : CEO hopes to stabilize supply chain this quarter
RE
10/22SAP SE : Gets a Buy rating from Baader Bank
MD
More news
Chart EURO STOXX 50
Duration : Period :
Euro Stoxx 50 Technical Analysis Chart | EU0009658145 | MarketScreener
Technical analysis trends EURO STOXX 50
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Top / Flop EURO STOXX 50
L'ORÉAL 388.05 Real-time Quote.5.08%
ASML HOLDING N.V. 690.5 Real-time Quote.3.63%
KONE OYJ 59.02 Delayed Quote.2.36%
VOLKSWAGEN AG 196.1 Delayed Quote.2.24%
BMW AG 85.69 Delayed Quote.1.72%
TOTALENERGIES SE 43.805 Real-time Quote.-0.94%
BANCO SANTANDER, S.A. 3.282 Delayed Quote.-0.95%
AIRBUS SE 109.78 Real-time Quote.-1.44%
INDITEX 30.76 Delayed Quote.-1.73%
AMADEUS IT GROUP, S.A. 55.4 Delayed Quote.-1.74%
Heatmap :