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MSCI Global Index stable. Former Japan index Asia up 0.6% Concerns about Ukraine’s supply are growing Inflation in the UK is reaching its peak of 30 years. NZ raises rates
LONDON, April 13 (Reuters) – Global stocks traded lower on Wednesday after falling for six days amid mixed inflation as worries about supply in the wake of Russia’s ongoing invasion of Ukraine helped push up prices. oil. Hawkish moves by the world’s top central banks in response to inflation have affected stock markets since early 2022, with the MSCI Global Index (.MIWD00000PUS) falling by about 10%. Wednesday’s data showed no decline for Britain as inflation hit a 30-year high of 7%, although that came a day after a lower-than-expected US print gave some traders hope that the policy would become more tightening. Sign up now for FREE unlimited access to Reuters.com Register At 1039 GMT, the MSCI global index remained stable at 689.80 points, weighed down by the falls in most major European indices, with the STOXX Europe 600 (.STOXX) falling 0.4%, although the British FTSE 100 (. FTSE) recovered from the first drops to trade without ang. . “Another month, another leap in inflation around the world,” said Oliver Blackbourn, portfolio manager and asset manager Janus Henderson. “Rising prices further reinforce the pressure on the Bank of England to respond to mitigate the squeeze on real incomes. However, weakened growth forecasts indicate the risk to the economy from tightening too soon or too far.” Overnight in Asia, much weaker-than-expected import data from China affected the outlook, but added that Beijing could further relax the policy, helping MSCI’s broader Asia-Pacific stock index outside Japan (.MIAPJ0000PUS) to rise 0.6%. Japan also posted weak data on machine orders, although its shares closed higher on US inflation data. The futures for the US stock index showed a rise of 0.4% in the opening. Tuesday’s data showed that monthly consumer prices in the US rose to their highest level in 16-1 / 2 years in March, as the war in Ukraine pushed up petrol costs to record lows, although underlying inflationary pressures eased. read more After falling the previous day, the yield on 10-year government bonds increased on Wednesday and was last at 2.7519%, compared to the three-year high of 2.836%, before the data on inflation. The two-year yield was 2.4261%. In the eurozone, meanwhile, a key long-term inflation rate rose more than 2.4% on Wednesday, above the European Central Bank’s 2% target ahead of its next meeting on Thursday. In response, bond yields on the bloc rose, with Germany’s 10-year yield rising by 6 basis points. Oil prices rose after Russian President Vladimir Putin said ongoing peace talks with Ukraine had reached a stalemate, fueling supply concerns, with Brent crude futures up 0.0% at 105.0 dollars a barrel. read more Corn futures fell 0.6%, but are still close to last month ‘s 11 – year high. Gold jumped from its low to trade 0.5% at $ 1,977 an ounce. In foreign exchange markets, the euro remained stable for the last time against the dollar, but just above the five-week low. The dollar index strengthened by 0.1% against a basket of currencies. FRX The New Zealand dollar fell 1.1% after the Reserve Bank of New Zealand raised interest rates by 50 basis points – the most aggressive rise in two decades – but moderated its interest rate outlook. The Bank of Canada meets later Wednesday and is also expected to rise sharply. read more Sign up now for FREE unlimited access to Reuters.com Register Additional references by Alun John. Editors: Christopher Cushing, Kim Coghill and Alexander Smith Our role models: The Thomson Reuters Trust Principles.
