Tuesday, 16 January 2018

Markets mixed with US market closed

Markets were mixed on Monday.

While the US stock market was closed for a holiday, the STOXX Europe 600 fell 0.2 percent but the Nikkei 225 rose 0.3 percent.

European stocks were kept under pressure by a stronger euro in the wake of the release of the minutes from the European Central Bank’s meeting in December suggesting that the bank may take a more hawkish stance on its monetary policy. Currency strategists at Brown Brothers Harriman noted on Monday that the “euro’s 2.5% appreciation on a trade-weighted basis is tantamount to a 40 basis points tightening of monetary policy”.

Also weighing on the market on Monday was news that UK construction giant Carillion will enter liquidation after weekend rescue talks collapsed.

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