European markets up
European stocks rose with U.S. equity futures on Thursday after President Donald Trump hinted that American military action in Syria may not be imminent, easing some investor fears.
In a tweet Trump said an attack “could be very soon or not so soon at all,” helping to blunt the more downbeat sentiment seen earlier in Asia, where equity benchmarks from Tokyo to Sydney fell.
Oil has been advancing on growing concerns that the U.S. will take military action in the Middle East, and after Saudi Arabia intercepted a ballistic missile and shot down drones. While that pushed down most of the main stock benchmarks in the region, it gave a break to oil-rich Russia, where the ruble bounced back from the lowest level in 15 months.
Investors seem wedged between competing catalysts. A key U.S. inflation measure sped to the highest in a year, but traders still took cover in Treasuries and other safe-haven as- sets after the White House said Trump was weighing options over Syria. Separately, a bipartisan effort emerged in Congress to protect special counsel Robert Mueller from being fired, a move that points to escalating political risk in the U.S.
The Stoxx Europe 600 Index advanced 0.3 percent as of 11:34 a.m. London time. Futures on the S&P 500 Index jumped 0.4 percent. The MSCI All-Country World Index declined 0.1 percent. The U.K.’s FTSE 100 Index increased 0.1 percent. Germany’s DAX Index jumped 0.5 percent. The MSCI Emerging Market Index decreased less than 0.05 percent. The MSCI Asia Pacific Index sank 0.5 percent, the largest decrease in more than a week.
Copper sank 2 percent to $3.06 a pound, the lowest in more than a week on the biggest tumble in two months. Gold sank 0.6 percent to $1,345.85 an ounce, the first retreat in a week and the largest decrease in more than a week. This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.