Wednesday, December 18, 2024

FTSE 100 LIVE: European stock markets fall as French election worries offset eurozone inflation dip

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Stocks in Asia were higher overnight, with the Nikkei (^N225) rising 1.1% on the day in Japan, as the weaker yen spurred buying of export-oriented shares. The Japanese yen fell to near a fresh 38-year low, reaching 161.66 yen to the dollar early Tuesday.

The Hang Seng (^HSI) climbed 0.25% in Hong Kong after a holiday break on Monday while the Shanghai Composite (000001.SS) was 0.1% up by the end of the session.

It came as stocks advanced on Wall Street and yields jumped in the US bond market after the Supreme Court ruling that Donald Trump cannot be prosecuted for official action.

All three major indexes finished higher in a choppy session led by gains in technology, discretionary consumer goods and services suppliers, and banking stocks.

Investors are also eyeing the potential impact from a Supreme Court ruling Monday that former presidents have broad immunity from prosecution, likely extending the delay in a criminal case against Donald Trump to after the November election.

The Dow Jones (^DJI) rose 0.1% to 39,169.52, the S&P 500 (^GSPC) gained 0.3% to 5,475.09 and the Nasdaq Composite (^IXIC) gained 0.8% to 17,879.30.

Benchmark 10-year US Treasury yields rose to their highest since mid-June at the start of a holiday-shortened week that will likely be marked by low trading volumes.

The yield climbed to 4.46% from 4.39% late on Friday and from 4.29% late on Thursday.

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