European Stocks Little Changed, Nikkei Falls, Some Asian Stocks Up

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European Stocks Little Changed, Nikkei Falls, Some Asian Stocks Up
European Stocks Little Changed, Nikkei Falls, Some Asian Stocks Up

European Stocks Little Changed, Nikkei Falls, Some Asian Stocks Up

Earlier in the overnight trade, European stocks were little changed wherein the Stoxx Europe 600 Index headed for the worst start to the year since 2010. On the other hand, Japan’s Nikkei stock index fell Friday as the national currency yen strengthened to some extent and that is expected to affect export oriented economy.

European stock market seemed affected by the worry that investors have regarding the awaited reports on euro-area unemployment and U.S. consumer sentiment. Some major gainers in European trade were BT Group Plc, LVMH Moet Hennessy and others. BT Group Plc got uplift of 2.7 percent thanks to its better third-quarter earnings.

On the other hand, Banco Bilbao Vizcaya Argentaria SA also received an upward movement when it gained 1.4 percent after posting a smaller quarterly loss than analysts had estimated earlier. Nonetheless, LVMH Moet Hennessy Louis Vuitton SA led European luxury-goods stocks were also up by 5.9 percent as fashion and leather-goods sales rebounded in the fourth quarter.

Some major losers in European trade included Diageo Plc (DGE) whose stocks fell by 1.5 percent. The company faced trouble after Goldman Sachs Group Inc. cut its recommendation on the shares. On a mixed trading day, the Stoxx 600 slipped 0.1 percent to 323.03 at 8:05 a.m. in London. Standard & Poor’s 500 Index futures fell 0.1 percent.

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Several Asian Stock Markets Closed Today For Holiday

Several of financial markets in Asia are closed today and there is no trading in China, Hong Kong, South Korea, Taiwan, Indonesia, Singapore, Malaysia and the Philippines. Some of the markets that are open today include Japan, India, New Zealand, and Australia. In today’s trading, Japan’s Nikkei 225 reversed early gains that were sparked by the government reporting increases in inflation and factory output.

Indian Stocks Up

The other market leader in Asia, India gained today a little bit as S&P BSE SENSEX was trading at 20522.76 that is a gain of 24.51. Whereas S&P BSE 100 traded at 6064.06 and gained 26.56 points, S&P BSE 200 traded at 2422.27 and gained 12.66 points. A positive trend was also seen in Thailand’s SET which was up 0.4 percent at 1,269.19.

There was also some upward movement in the Australia’s S&P/ASX 200 which added less than 0.1 percent to 5,190. A similar trend was seen in New Zealand’s benchmark wherein it gained 0.5 percent to 5,258.40.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com