Shanghai Composite & Hang Seng both Take a Hit, Petrofac Down After Further Loss Revelations
April 20, 2015 6:09 am
An index of Asian shares slipped on Monday and Chinese stock markets erased earlier sharp gains made after China’s central bank boosted banks’ lending power by reducing their reserve requirements. The S&P 500 posted its biggest percentage loss since March 25th on Friday as investors shunned risk amid new trading regulations in China, with renewed worries about Greece running out of money as well as tepid U.S. corporate earnings also having an effect. The Dow closed 279 points lower on Friday at 17,826, while the S&P500 lost 23 points to close the week at 2,081.
The Euro slipped about 0.2% on the day to $1.0777, off Friday’s high of $1.0849, The Dollar fell about 0.3% against its Japanese counterpart to 118.63 Yen.
Brent added 1.1% to $64.16 a barrel, while U.S. crude rose 1.3% to $56.48.
Oil and gas services provider Petrofac said it will incur an additional £130bn in pretax loss in 2015 on the Laggan Tormore gas plant project in Shetland. The stock is one of the worst performers across the FTSE 350 this morning, down by 11% trading at 903p per share.
An index of Asian shares slipped on Monday and Chinese stock markets erased earlier sharp gains made after China’s central bank boosted banks’ lending power by reducing their reserve requirements. The S&P 500 posted its biggest percentage loss since March 25th on Friday as investors shunned risk amid new trading regulations in China, with renewed worries about Greece running out of money as well as tepid U.S. corporate earnings also having an effect. The Dow closed 279 points lower on Friday at 17,826, while the S&P500 lost 23 points to close the week at 2,081.
The Euro slipped about 0.2% on the day to $1.0777, off Friday’s high of $1.0849, The Dollar fell about 0.3% against its Japanese counterpart to 118.63 Yen.
Brent added 1.1% to $64.16 a barrel, while U.S. crude rose 1.3% to $56.48.
Oil and gas services provider Petrofac said it will incur an additional £130bn in pretax loss in 2015 on the Laggan Tormore gas plant project in Shetland. The stock is one of the worst performers across the FTSE 350 this morning, down by 11% trading at 903p per share.
