Global markets update: US stocks end mixed, European shares fall

Across the global markets, investors’ mood was gloomy as they fretted over the possibility of major central banks holding interest rates higher for a prolonged period.

US stocks

On Wall Street, the US stock markets closed mixed amid worries over interest rates to remain high for a longer period.

A possible shutdown has also added to fears of stock investors.

The S&P 500 gained 1.10 points, or 0.04%, to end at 4,275.29 points. The Nasdaq Composite rose 29.24 points, or 0.22%, at 13,092.85. The Dow Jones Industrial Average fell 61.79 points, or 0.20%, at 33,550.80.

On Friday, monthly personal consumption expenditures (PCE) price index will be released. It will give a fresh view of inflation.

The yield on the 10-year treasury rose further on Wednesday, at 4.61% from 4.55%.

Shares of Marathon Oil rose 4.2% and Devon Energy climbed 4%.

Costco Wholesale added 1.9% after it reported stronger profit for the latest quarter.

Currencies

The US dollar rose at 149.59 Japanese yen from 149.08. It fell at $1.0508 from $1.0566 against the euro.

Europe

European shares fell for a fifth day in a row on Wednesday, with the pan-European STOXX 600 index slipping 0.2% to close at a six-month low.

Britain’s FTSE 100 edged down 0.4% at 7,593.22.  Germany’s DAX lost 0.3% at 15,217.45. France’s CAC 40 ended flat at 7,071.79.

Real Estate index shed 2% after Jefferies downgraded several British landlords.

Land Securities, British Land and Derwent London plunged between 3.4% and 4.3%.

Shares of Dutch insurer NN Group tumbled 18.8% and ASR dropped 14.2% on court rulings over investment-linked products.

Shares of UBS dropped about 3% after a report that the US Department of Justice has stepped up scrutiny into alleged compliance failures that helped Russian clients evade sanctions.

Asia

In Asia, key stock markets closed higher on Wednesday.

Hong Kong’s Hang Seng index rose 0.8% at 17,611.87. China’s Shanghai Composite: added 0.2% at 3,107.32.

Japan’s Nikkei 225 edged up 0.2% at 32,371.90.

Australia’s S&P/ASX 200 index ended 0.1% lower at 7.030.3. New Zealand’s benchmark S&P/NZX 50 index ended 0.2% lower at 11,316.81 points.

Energy prices 

The US crude oil benchmark for November delivery rose $3.29 at $93.68 a barrel on Wednesday. Brent crude for November delivery rose $2.59 at $96.55 a barrel.

Bullion 

Gold for December delivery fell $28.90 at $1,890.90 an ounce. Silver for December delivery fell 47 cents at $22.73 an ounce. 

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

Updated: 28 Sep 2023, 02:19 AM IST