Stock indices in the States were on track for their largest weekly loss since August due to a weak retail sales report from the states and poor earnings from S&P500 companies. Asian stocks fell to six week lows and emerging market currencies were dented as investors fled to the safety of the Dollar, whilst Tokyo stocks fell in thin trade to the lowest in more than a week on Monday, with exporters, airline and travel agency stocks all hit by reduced appetite for risk following the deadly Islamist militant attacks in Paris.
In currency markets, the Euro dropped about 0.5% to $1.07205, after logging a flat performance last week. The Euro was down 0.5% against the Yen earlier this morning at 131.24 Yen. Also against Sterling, the common currency hit a three-month low of 0.70245 pence. The Dollar slipped to as low as 122.23, its lowest in 10 days and last stood at 122.53 Yen, compared to 122.62 Yen at the end of last week. The Australian Dollar, often sold in times of market stress, softened just 0.1% to $0.7110 compared to around $0.7120 late in New York on Friday.
Commodity futures retraced some of the lost ground in early Asian trade. Brent was up 1% at $44.92 a barrel after shedding 1% on Friday, while U.S. crude was up about 0.54% at $40.96 a barrel after giving up 2%. Spot gold rose 1% to $1,094 an ounce, moving away from its low on Thursday of $1,074.26, which was its deepest nadir since February 2010.
After the Paris terrorist attacks on Friday, travel companies and tour operators share prices are affected with TUI Travel, IAG, Carnival and Intercontinental Hotels all languishing at the bottom of the FTSE off between 2% and 4%.
Stock indices in the States were on track for their largest weekly loss since August due to a weak retail sales report from the states and poor earnings from S&P500 companies. Asian stocks fell to six week lows and emerging market currencies were dented as investors fled to the safety of the Dollar, whilst Tokyo stocks fell in thin trade to the lowest in more than a week on Monday, with exporters, airline and travel agency stocks all hit by reduced appetite for risk following the deadly Islamist militant attacks in Paris.
In currency markets, the Euro dropped about 0.5% to $1.07205, after logging a flat performance last week. The Euro was down 0.5% against the Yen earlier this morning at 131.24 Yen. Also against Sterling, the common currency hit a three-month low of 0.70245 pence. The Dollar slipped to as low as 122.23, its lowest in 10 days and last stood at 122.53 Yen, compared to 122.62 Yen at the end of last week. The Australian Dollar, often sold in times of market stress, softened just 0.1% to $0.7110 compared to around $0.7120 late in New York on Friday.
Commodity futures retraced some of the lost ground in early Asian trade. Brent was up 1% at $44.92 a barrel after shedding 1% on Friday, while U.S. crude was up about 0.54% at $40.96 a barrel after giving up 2%. Spot gold rose 1% to $1,094 an ounce, moving away from its low on Thursday of $1,074.26, which was its deepest nadir since February 2010.
After the Paris terrorist attacks on Friday, travel companies and tour operators share prices are affected with TUI Travel, IAG, Carnival and Intercontinental Hotels all languishing at the bottom of the FTSE off between 2% and 4%.
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