FRA approves establishment of five new firms for investment fund management, SME financing    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's Environment Minister attends AMCEN conference in Nairobi    Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation    Egyptian, Belarusian officials discuss drug registration, market access    Egypt's ARC, Italy's AICS sign deal to boost wheat production    Gold prices edge higher on July 16th    Egypt stocks hit record highs in 2025 as reforms fuel rally: Cabinet    Egypt condemns Israeli strikes on Lebanon, Syria    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico explore joint action on environment, sustainability    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM urges BRICS to prioritise peace    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Global stocks mixed as attacks in Egypt add to uncertainties
Published in Amwal Al Ghad on 10 - 04 - 2017

Global shares were wavering on Monday following attacks by suicide bombers on churches in Egypt added to uncertainties in the Middle East. News that China's top anti-corruption body is investigating the insurance regulator pulled shares lower in Shanghai.
KEEPING SCORE: France's CAC 40 lost 0.5 percent in early trading to 5,108.27, while Germany's DAX inched down 0.1 percent to 12,211.15. Britain's FTSE 100 was little changed but up slightly at 7,350.98. U.S. shares were set to drift higher with Dow futures up 0.1 percent at 20,619. S&P 500 futures rose 0.1 percent to 2,355.10.
GEOPOLITICS: President Donald Trump's meetings Friday-Saturday with his Chinese counterpart Xi Jinping seemed to have little major impact on world markets. But U.S. missile strikes on a Syrian air base last week were followed by bombings at two Coptic churches in northern Egypt that killed 44 people. Secretary of State Rex Tillerson said the U.S. missile strikes carry a message for any nation operating outside of international norms. Worries have been growing about North Korea's missile tests and nuclear weapons program, and over the weekend the Pentagon said a Navy carrier strike group was moving toward the western Pacific Ocean to provide more of a physical presence in the region.
THE QUOTE: "Volatility was substantially higher last week, and safe-haven asset prices soared as geopolitical tensions and financial uncertainties rose. Therefore, a ‘risk-off' sentiment will probably continue to overshadow stock markets in the near term," Margaret Yang of CMC Markets said in a commentary.
CHINA CORRUPTION PROBE: The Central Commission for Discipline Inspection said the chairman of the China Insurance Regulatory Commission was suspected of unspecified "severe discipline violations," an official term for corruption. The industry has been hit by complaints that insurers are making dangerously risky investments in stocks and real estate.
ASIA'S DAY: Japan's benchmark Nikkei 225 added 0.7 percent to finish at 18,797.88, while Australia's S&P/ASX 200 gained 0.9 percent to 5,912.90. South Korea's Kospi fell 0.9 percent to 2,133.32. Hong Kong's Hang Seng was steady at 24,262.18, while the Shanghai Composite fell 0.5 percent to 3,269.39. Shares rose in Taiwan and were mixed in Southeast Asia.
ENERGY: Benchmark crude oil rose 33 cents to $52.57 a barrel in electronic trading on the New York Mercantile Exchange. It added 54 cents to $52.24 a barrel late Friday in New York. Brent crude, the standard for international oil prices, rose 42 cents to $55.66 a barrel in London.
CURRENCIES: The dollar rose to 111.36 yen from 110.55 yen late Friday in Asia. The euro fell to $1.0582 from $1.0649.
Source: The Associated Press


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