European stocks slip; Oil edges higher

Treasuries and the dollar were steady after President Donald Trump stepped up pressure on the Federal Reserve to sustain growth.

Apr 08, 2019 10:04 IST India Infoline News Service

European stock markets and US equity futures edge lower and government bonds drift as progress toward a trade deal between America and China continues to drag. Oil rose as fighting in Libya raised the risk of supply outages.

The Stoxx Europe 600 Index slipped alongside S&P 500 futures after the US benchmark rounded out last week with gains that took it to a six-month high.

A rally in Shanghai fizzled out, while equities also fell in Tokyo as the yen pushed higher. Shares rose in Sydney and saw modest gains in Hong Kong. Treasuries and the dollar were steady after President Donald Trump stepped up pressure on the Federal Reserve to sustain growth.

Oil extended gains as an escalation of fighting in OPEC producer Libya overshadowed the biggest increase in US active rigs since May. Turkey’s lira declined as President Recep Tayyip Erdogan cited “widespread irregularities” in local elections in Istanbul.

Elsewhere, the pound edged higher as British Prime Minister Theresa May appealed to both the public and politicians in search of support for a compromise Brexit plan. Iron ore futures in China headed for the best close in two years as investors weighed supply challenges.

Source: Bloomberg

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