Overseas Trading: U.K. Stocks Turn Positive on Carney

U.K. stocks are getting a lift from new measures out of the Bank of England (BoE)

Jul 5, 2016 at 8:51 AM
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Most Asian markets settled the session lower, as oil prices sank and traders sounded a cautious note ahead of the U.S. jobs report on Friday. Stocks in Hong Kong were the worst off, with the Hang Seng sliding 1.5%. Meanwhile, a stronger yen pressured Japan's Nikkei to a 0.7% loss, while South Korea's Kospi gave up 0.3%.

Bucking the regional trend lower was China's Shanghai Composite. The index picked up 0.6%, boosted by upbeat numbers out of the services sector -- which grew at its quickest pace in nearly a year. Also helping stocks was a fresh call from President Xi Jinping for state-owned enterprises to increase their efficiency and competitiveness.

Across the pond, European stocks are moving sharply as traders react to remarks by Bank of England (BoE) Governor Mark Carney. In the latest BoE financial stability report, Carney warned that the U.K. "has entered a period of uncertainty and significant economic adjustment," but pledged the central bank's support -- including the reduction of regulatory capital buffers. London's FTSE 100 turned higher on the remarks, last seen up 0.3%. The rest of Europe isn't nearly as lucky, with the French CAC 40 and German DAX stumbling 1.8% and 1.9%, respectively.

overseas trading july 5

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