Election Day in the UK, Brent and US Crude Reach New 2015 High
May 7, 2015 6:43 am
Asian stocks fell on Thursday, led by losses on Wall Street, while a rise in Euro zone debt yields amid a global bond rout kept the Euro near a two-month peak versus the dollar, while the Pound lost ground ahead of Britain’s election later in the day. U.S. stocks ended weaker on Wednesday after U.S. Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. The Dow fell 86 points to close at 17,841, the SP500 lost 9 points to close at 2,080.
The Euro was steady at $1.1343 not far from a two-month high of $1.1371 struck overnight. Sterling was flat against the Dollar at $1.5244. It has lost momentum after touching a two-month peak of $1.5498 last week. The Dollar stood little changed at 119.49 Yen, pulling further away from this week’s high of 120.51 touched on Tuesday. The Euro climbed as far as 74.49 pence, reaching a high last seen in mid-February. It was last at 74.41 pence.
Brent crude was trading 31 cents lower at $67.46 per barrel at 05:31 GMT. It rallied to a 2015 peak of $69.63 on Wednesday before closing below $68 a barrel. U.S. crude was down 0.7% at $60.53 a barrel after reaching a five-month high of $62.58 on Wednesday.
Within the equity space Morrison’s, Britain’s No. 4 grocer, on Thursday posted a deteriorating fall in underlying sales, further illustrating the tough turnaround task facing its new boss. The stock dropped 7% in early trade at 176p per share.
British voters get to decide on Thursday who they want to control the world’s fifth-largest economy in a tight election that could yield weak government, propel the United Kingdom towards a vote on EU membership and stoke Scottish desire for secession. Prime Minister David Cameron’s Conservatives and Ed Miliband’s opposition Labour Party have been neck and neck in opinion polls for months, indicating that neither will win enough seats for an outright majority in the 650-seat parliament. Counting will begin at 22:00 when the polling stations close, and results will come in throughout the night and tomorrow morning.
Asian stocks fell on Thursday, led by losses on Wall Street, while a rise in Euro zone debt yields amid a global bond rout kept the Euro near a two-month peak versus the dollar, while the Pound lost ground ahead of Britain’s election later in the day. U.S. stocks ended weaker on Wednesday after U.S. Federal Reserve Chair Janet Yellen warned of high valuations, adding to anxiety about future interest rates and a global bond rout. The Dow fell 86 points to close at 17,841, the SP500 lost 9 points to close at 2,080.
The Euro was steady at $1.1343 not far from a two-month high of $1.1371 struck overnight. Sterling was flat against the Dollar at $1.5244. It has lost momentum after touching a two-month peak of $1.5498 last week. The Dollar stood little changed at 119.49 Yen, pulling further away from this week’s high of 120.51 touched on Tuesday. The Euro climbed as far as 74.49 pence, reaching a high last seen in mid-February. It was last at 74.41 pence.
Brent crude was trading 31 cents lower at $67.46 per barrel at 05:31 GMT. It rallied to a 2015 peak of $69.63 on Wednesday before closing below $68 a barrel. U.S. crude was down 0.7% at $60.53 a barrel after reaching a five-month high of $62.58 on Wednesday.
Within the equity space Morrison’s, Britain’s No. 4 grocer, on Thursday posted a deteriorating fall in underlying sales, further illustrating the tough turnaround task facing its new boss. The stock dropped 7% in early trade at 176p per share.
British voters get to decide on Thursday who they want to control the world’s fifth-largest economy in a tight election that could yield weak government, propel the United Kingdom towards a vote on EU membership and stoke Scottish desire for secession. Prime Minister David Cameron’s Conservatives and Ed Miliband’s opposition Labour Party have been neck and neck in opinion polls for months, indicating that neither will win enough seats for an outright majority in the 650-seat parliament. Counting will begin at 22:00 when the polling stations close, and results will come in throughout the night and tomorrow morning.
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