GLOBAL MARKETS-Stocks edge up; bonds, gold fall as investors add risk

 

NEW YORK, April 19 (Reuters) - World stock indexes mostly rose on Wednesday following mostly upbeat U.S. corporate earnings, while U.S. bond prices and gold fell as markets indicated improving risk sentiment.

The dollar recovered from recent weakness against the euro and the safe-haven yen, while sterling was off six-month highs, which it hit following Tuesday's calling of a snap UK election.

Questions still hung over the 'reflation' trades that had lifted markets since Donald Trump became U.S. president. A run of disappointing U.S. economic data and doubts the Trump administration will progress with tax cuts have quelled expectations of faster inflation.

Stock investors have turned their focus to quarterly results from U.S. companies, which so far have been mostly better than expected. Morgan Stanley (Xetra: 885836 - news) was up 2.7 percent following its results.

"While there has been some disappointment, the big picture has not vastly changed," said James Athey, senior investment manager at Aberdeen Asset Management (Frankfurt: 899502 - news) . "We're still talking about a global economy which is doing better... and central banks that are looking to normalize, and all of that should be supportive for risk assets."

The S&P 500 gained 6.32 points, or 0.27 percent, to 2,348.51 and the Nasdaq Composite added 36.37 points, or 0.62 percent, to 5,885.84. The Dow Jones Industrial Average was down 24.48 points, or 0.12 percent, to 20,498.8.

The pan-European STOXX 600 index, which hit a three-week low on Tuesday, rose 0.3 percent, while Britain's FTSE 100 index fell 0.5 percent.

Sterling was just off a six-month peak against the dollar above $1.28 having surged when British Prime Minister Theresa May called an early general election for June 8, seeking to strengthen her party's majority ahead of Brexit negotiations.

British stocks are vulnerable to a rising pound because more than two-thirds of FTSE 100 company earnings are derived from operations overseas.

The greenback was 0.54 percent higher against the yen and up 0.17 percent against the euro.

Four days before the first round of the presidential election in France, just a few points separate the top four candidates, including two who oppose the euro - the far-right's Marine Le Pen (Other OTC: PENC - news) and the far-left's Jean-Luc Melenchon.

In the U.S. Treasury market, 10-year notes were last down 6/32 in price to yield 2.20 percent.

Gold was down 1 percent, with spot gold falling as low as $1,275.73 per ounce.

Oil edged lower, reversing earlier gains. Brent crude futures were down 36 cents at $54.53 a barrel, while U.S. crude futures were down 34 cents at $52.07.

Shoot

Trending News

Xiaomi pumps Rs 3,500 crore into India business

BlackBuck's out to raise $150M in new round, valuation likely to jump to $800 M

With $21 Billion, Azim Premji among world’s top philanthropists

Google agreed on a $45M exit package for India-origin exec accused of sex abuse

HSBC pegs Zomato's valuation at $3.6 billion ahead of Swiggy

PayU in talks to acquire online payments firm Wibmo for $60M

Quikr close to acquiring refurbished goods marketplace Zefo in all-stock deal

What life looks like after a layoff from an IT company

General Atlantic & Tencent pump in another Rs 80 Cr in ed-tech unicorn Byju's

US Senator Warren vows to break up Amazon, Facebook, Google

SoftBank extends tech reach with $5B Latin American fund

Coverfox hits the market to raise $50M in new financing round

Cognizant faces US lawsuit alleging discrimination

China's Huawei sues US over federal ban on using its products

Germany's Delivery Hero acquires Zomato's UAE biz, invests in India ops

Ahead of deadline, debate rages on e-commerce policy

Flipkart rejigs reporting of Myntra-Jabong head Amar Nagaram

Grofers raises fresh funds from existing investors, valuation hits $425M

Sachin Bansal invests Rs 250 Cr each in NBFCs Altico & IndoStar: Report

I-bank Wolet files $800k suit over Flipkart’s Upstream buy

Flipkart FY18 revenue up 50%, but losses grow 5x

Pine Labs in talks to acquire Amazon-backed Qwikcilver for $100M

India can become 2nd largest 5G market in 10 years: Huawei

Alibaba rival Pinduoduo seeks to raise $1.5B

Twitter Q4 revenue grows to $909M as video ad sales surge

Mukesh Ambani to invest $1.4B in West Bengal, will help e-commerce expansion

Etail may lose Rs 40,000 crore, retail to get a 3rd of it

Steadview Capital invests $74M in Ola valuing it at around $6B

Byju’s ups revenue to Rs 490 cr in FY 18, losses drop by half

Agritech startups Sabziwala and LivLush merge their business under new entity Kamatan

Avail Finance lands $17.2M from Matrix Partners & Ola, Freecharge and Flipkart founders

RBI suggests tax sops, self-regulation to build fintech space

Swiggy hires new CEO for its Access Service, gets new CFO

Logistics company Delhivery registers 44% increase in FY17 revenues

WeWork to acquire one of the oldest social networks, Meetup

Qualcomm rejects Broadcom's $103 billion offer

EasyRewardz gets $2 million Series-A funding

'Anemic' iPhone 8 demand drags Apple shares lower

Lending platform Lenden Club gets Rs 3.5cr in Equity Investment

On festive sales, Flipkart says 65% clients from Tier-II cities