Shanghai Composite Tumbles, Tesco Stock Up After Slowdown in Decline Reported
June 26, 2015 6:13 am
U.S. stocks treaded water on Thursday, however healthcare stocks rallied after the U.S. Supreme Court upheld tax subsidies, which are key to President Barack Obama’s signature healthcare reform law. Asian stocks slipped on Friday as Greece failed again to reach a cash for reforms deal with the Troika, while major currencies like the Euro and Dollar drifted in narrow ranges as the debt saga sidelined investors. The Dow dropped 75 points to close at 17,890, the S&P500 fell 6 points to close at 2,102. The Nikkei fell 0.3% to 20,706.15 coming off slightly from its 2.6% rise for the week. The big news today in Indices, however, is the Shanghai Composite, which closed down by 7.4%, hit by a sell-off in tech stocks.
In currencies, the Euro inched down 0.1% to $1.1188, stuck within a tight $1.1235-1153 range for the third session. It was poised to end the week about 1.4% lower. The Dollar nudged down 0.2% to 123.33 Yen. In commodities trading, U.S. crude added about 0.2%to $59.81 a barrel after finishing Thursday down almost 1%
In commodities trading, U.S. crude added about 0.2% to $59.81 a barrel after finishing Thursday down almost 1%.
Within the equity space Supermarket chain Tesco reported another slip in sales but said the decline was slowing. UK like-for-like sales fell by 1.3% in the 13 weeks to 30 May, after 1.7% and 5.1% declines seen in the third and fourth quarters of the previous financial year. Tesco stock opened 2.5% higher in today’s session at 223p per share.
U.S. stocks treaded water on Thursday, however healthcare stocks rallied after the U.S. Supreme Court upheld tax subsidies, which are key to President Barack Obama’s signature healthcare reform law. Asian stocks slipped on Friday as Greece failed again to reach a cash for reforms deal with the Troika, while major currencies like the Euro and Dollar drifted in narrow ranges as the debt saga sidelined investors. The Dow dropped 75 points to close at 17,890, the S&P500 fell 6 points to close at 2,102. The Nikkei fell 0.3% to 20,706.15 coming off slightly from its 2.6% rise for the week. The big news today in Indices, however, is the Shanghai Composite, which closed down by 7.4%, hit by a sell-off in tech stocks.
In currencies, the Euro inched down 0.1% to $1.1188, stuck within a tight $1.1235-1153 range for the third session. It was poised to end the week about 1.4% lower. The Dollar nudged down 0.2% to 123.33 Yen. In commodities trading, U.S. crude added about 0.2%to $59.81 a barrel after finishing Thursday down almost 1%
In commodities trading, U.S. crude added about 0.2% to $59.81 a barrel after finishing Thursday down almost 1%.
Within the equity space Supermarket chain Tesco reported another slip in sales but said the decline was slowing. UK like-for-like sales fell by 1.3% in the 13 weeks to 30 May, after 1.7% and 5.1% declines seen in the third and fourth quarters of the previous financial year. Tesco stock opened 2.5% higher in today’s session at 223p per share.
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