The Koyal Group Economic Crisis Warning, International markets roundup
A ROUNDUP of trading on major world markets:
NEW YORK - US stocks fell ahead of a busy week of economic news that includes a Federal Reserve monetary policy meeting and the monthly jobs report.
The Dow Jones Industrial Average gave up 36.86 points, or 0.24 per cent, to 15,521.97.
The broad-based S&P 500 dropped 6.32 points, or 0.37 per cent, to 1,685.33, while the tech-rich Nasdaq Composite Index declined 14.02 points, or 0.39 per cent, to 3,599.14.
Analysts said investors were hesitant to make big bets before the Fed weighs in Wednesday with its policy statement and the jobs data is released Friday.
Other big reports this week include second-quarter gross domestic growth and home prices.
LONDON - European stock markets ended mostly flat, ceding early gains ahead of a busy week as earnings season comes into full swing, dealers said.
London's FTSE 100 index of leading shares finished just 0.08 per cent higher at 6,560.25 points.
Frankfurt's DAX 30 rose 0.17 per cent to 8259.03 points, while the CAC 40 in Paris closed unchanged at 3968.91 points.
Earlier on Monday, a merger deal announced between French advertising giant Publicis and its US rival Omnicom buoyed the markets.
The new Publicis Omnicom Group will be a global leader in its sector and is worth an estimated $US35.1 billion ($A38.06 billion).
HONG KONG - Most Asian markets fell, with Tokyo skidding more than three per cent as the yen rose against the US dollar before policy meetings of the US and European central banks.
Tokyo's Nikkei on Monday dived 3.32 per cent, extending an almost three per cent slump on Friday. The index shed 468.85 points to 13,661.13.
Seoul lost 0.57 per cent, or 10.92 points, to 1,899.89, Hong Kong was down 0.54 per cent, or 118.80 points, at 21,850.15 and Shanghai lost 1.72 per cent, or 34.54 points, to close at 1,976.31.
Hong Kong and Shanghai shares were weighed by concerns about the Chinese economy days ahead of the release of manufacturing activity data. Recent figures have pointed to continuing weakness in the world's No.2 economy, a crucial driver of global growth.
Traders were also spooked by news that China's National Audit Office will carry out an audit of all regional government debt, an announcement which raised concerns about the country's local banking system.
WELLINGTON - New Zealand shares closed lower, led by Telecom Corp and general weakness among several other top 10 stocks.
The NZX 50 Index fell 3.515 points, or 0.77 per cent, to 4,578.475.
Read More :
The Koyal Group Economic Crisis Warning