Overseas Trading: Oil, Data Pressure European Stocks

Outside of Japan, stocks in Asia and Europe are struggling

by Josh Selway

Published on Jul 19, 2016 at 8:41 AM

Asian stock markets moved mostly lower today, though Japan's Nikkei outperformed to extend its win streak to six sessions. Boosting the Tokyo-based index was a weaker yen, which overshadowed steep post-M&A losses from heavyweight SoftBank. At the close, the Nikkei was up 1.4%. 

Elsewhere, stocks edged lower, amid a likely round of profit-taking following a few strong sessions, and as traders panned sliding oil prices. China's Shanghai Composite closed 0.2% lower, Hong Kong's Hang Seng dropped 0.6%, and South Korea's Kospi was down 0.2%. 

Stocks are also in the red in Europe at midday. Besides sinking crude oil futures and declining mining stocks, a key reading on economic sentiment out of Germany dipped to its lowest level since November 2012. Meanwhile, disappointing earnings from several high-profile companies -- such as Rio Tinto and Ericsson -- are also weighing on stocks. Germany's DAX was last seen 1% lower, while France's CAC 40 is down 0.8%. London's FTSE 100, meanwhile, is off 0.2%, following reports that showed inflation rose by a more-than-expected 0.5% in June and sales of new homes plunged in the second quarter.


 Overseas Trading July 19

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