Asian stocks fall again, Europe drifts

GMT 15:46 2014 Thursday ,12 June

Arab Today, arab today Asian stocks fall again, Europe drifts

Asian stocks fall again, Europe drifts
Seoul - SPA

Asian stock markets fell for a second day Thursday and European shares drifted as a dimmer outlook for global growth this year gave investors a reason to lock in recent gains, AP reported.
The World Bank cut its 2014 growth forecast Tuesday to 2.8 percent from the 3.2 percent it predicted in January, citing a harsh American winter and the tensions in Ukraine. That is still faster than 2013 growth of 2.4 percent but it means a delay in economic recovery.
Britain's FTSE 100 was 0.1 percent lower at 6,834.58. Germany's DAX was up 0.1 percent to 9,957.79 and France's CAC 40 added 0.2 percent to 4,564.37. Wall Street was set for a tepid start, with Dow Jones and S&P 500 futures each up 0.1 percent.
Earlier in Asia, Japan's Nikkei 225, the regional heavyweight, declined 0.6 percent to 14,973.53. The index has gained 5.5 percent in the past month. South Korea's Kospi lost 0.2 percent to 2,011.65 following its central bank's widely expected decision to leave its policy rate unchanged.
Hong Kong's Hang Seng dipped 0.4 percent to 23,175.02 and Australia's S&P/ASX shed 0.5 percent to 5,428.80.
Stocks in mainland China and Indonesia also finished lower.
The New Zealand dollar jumped to $0.8663 from $0.8612 late Wednesday after the country's central bank raised its benchmark lending rate by a quarter point to 3.25 percent as it tries to dampen increases in house prices.
In energy markets, benchmark U.S. oil for July delivery was up 95 cents to $105.37 a barrel in electronic trading on the New York Mercantile Exchange as data showed stockpiles in the U.S. fell more than expected last week and escalating tensions in Iraq dimmed supply outlook. The contract rose 5 cents to close at $104.40 on Wednesday.
In currencies, the euro fell from $1.3535 to $1.3525. The dollar rose to 102.08 yen from 101.99 yen.


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