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Tuesday 17.07.2018 | Name days: Aleksejs, Aleksis

Stock exchanges on a rise in USA and Europe; oil prices decline

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOn Monday, 26 March, stock indexes increased in USA, increasing investors’ optimism for trade talks. In Europe, however, stock indexes declined, which was partially caused by increased euro value.

US stock Dow Jones Industrial Average index grew 2.8%, ceasing the decline experienced at the last to trade sessions, which was caused by US President Donald Trump’s announcement regarding the application of tariffs for imports from China.

Analysts were encouraged by reports from US media that reported talks being held between Washington and Beijing and that USA have imposed specific requirements that could help resolve the conflict.

Investors are trying to determine just how much of what Trump has said represents bargaining tactic, said Ventura Wealth Management analyst Tom Kiehl.

«Talks behind the scenes usually benefit markets,» he added.

Stock price decline experienced last week reflected ‘concerns about possible escalation in large-scale trade wars’, as reported by Oxford Economics.

However, «the difference between Trump’s initial announcements and the real policy may turn out large», Oxford Economics reported, pointing towards the White House’s switch in policy in regards to steel and aluminium tariff matter.

Meanwhile stock indexes in London, Paris and Frankfurt declined in response to the decision made by USA and many European countries to expel Russian diplomats after the poisoning of double agent Sergei Skripal in Britain.

Decline of European stock exchange index was dictated by the high value of euro and British pound sterling before US dollar.

Oil prices declined at New York and London stock exchanges.

Euro value before US dollar grew, British pound sterling value before US dollar grew. The value of US dollar before Japanese yen increased.

New York stock exchange’s WTI brand crude price for May supplies declined on Monday by USD 0.33 to 65.55 USD/barrel. Brent brand crude oil price at London exchange for May supplies declined by USD 0.33 to 70.12 USD/barrel.

USD stock exchange index Dow Jones Industrial Average grew 2.8% on Monday, reaching 24,202.60 points. Standard&Poor’s 500 index grew by 2.7%, reaching 2,658.55 points. Nasdaq Composite index grew 3.3% to 7,220.54 points.

London exchange’s FTSE 100 index declined on Monday by 0.5% to 6,888.69 points. Frankfurt exchange’s DAX 30 index declined by 0.8% to 11,787.26 points. Paris exchange’s CAC 40 index declined by 0.6% to 5,066.28 points.

Euro value before US dollar on Monday grew from 1,2353 to 1,2500 USD/EUR. British pound sterling’s value before US dollar grew from 1,4132 to 1,4230 USD/GBP, whereas US dollar value before Japanese yen grew from 104.74 to 105.43 JPY/USD.


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