Ex-FBI chief Comey gives US shares a modest push
US SHARES rose modestly and European stocks were little changed yesterday as investors digested testimony from former FBI director James Comey before a Senate panel, while the euro fell after the European Central Bank kept interest rates on hold and oil prices briefly touched onemonth lows.
Comey told US lawmakers in the congressional hearing he had no doubt that Russia had interfered with the election but was confident that no votes had been altered.
Investors also await the outcome of the general election in Britain as voting began yesterday in a snap vote predicted to give Prime Minister Theresa May a larger parliamentary majority.
The FTSEurofirst 300 of top European equities briefly hit a three-week low of 1 526.29 after the ECB said subdued inflation meant it would continue to pump more stimulus into the region’s economy. It still judged the euro zone economy to be rebounding and signalled it would not cut interest rates further.
MSCI’s all-country world equity index was last down 0.33 points, or 0.07 percent, at 467.3.
The Dow Jones Industrial Average was last up 66.28 points, or 0.31 percent, at 21 239.97. The S&P 500 was up 3.87 points, or 0.16 percent, at 2,437.01. The Nasdaq Composite was up 15.12 points, or 0.24 percent, at 6 312.50.
Europe’s broad FTSEurofirst 300 index closed down 0.04 percent at 1 528.71.
The euro hit its lowest since May 31 against the US dollar of $1.1196 after the ECB announcement. The dollar index, which measures the greenback against a basket of six major rivals, was last up 0.3 percent at 97.016.
The dollar’s gains pushed gold prices lower.
Spot gold prices were last down 0.72 percent at $1 277.13 an ounce. – Reuters