European Stocks May Open Broadly Lower

European markets are likely to open lower on Friday following their Asian peers, despite the overnight gains on Wall Street. The fall in crude oil prices weighed on the energy sector. Traders are cautious after media reports of Jared Kushner, the son-in-law and adviser of U.S. President Donald Trump, has come under FBI scrutiny in its Russia probe.

Asian stock markets were mostly lower on Thursday closing, but Wall Street gained broadly.

On early trading on Friday, the fall in crude oil prices and a stronger yen are weighing on investor sentiments in Japan.

The benchmark Nikkei 225 Index was down 0.59 percent to 19,696.43. China’s Shanghai Composite was up 0.10 percent, while Hong Kong’s Hang Seng was down 0.09 percent.

In Australia, the benchmark S&P/ASX 200 Index was down 36.50 points or 0.63 percent to 5,753.10.

In the currency market, the U.S. dollar traded in the upper 111 yen-range on Friday. The Australian dollar was lower against the U.S. dollar amid weak commodity prices.

In the oil space, WTI Crude for July delivery lost 0.63 percent to $48.59 a barrel on the New York Mercantile Exchange. In commodities, gold was up 0.14 percent to $1,258.20 an ounce.

On Wall Street, stocks closed higher on Thursday, following upbeat earnings news from some big-name retailers.

The Dow Jones Industrial Average rose 70.53 points or 0.34 percent to 21,082.95, the Nasdaq Composite advanced 42.24 points or 0.69 percent to 6,205.26 and the S&P 500 climbed 10.68 points or 0.44 percent to 2,415.07.

The major European markets closed mixed on Thursday. While the U.K.’s FTSE 100 Index edged up 0.04 percent to 7,517.71, the French CAC 40 Index edged down by 0.1 percent and the German DAX Index dipped by 0.2 percent to 12,621.72.

by RTT Staff Writer

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