clear
Sunday June 25th, 2017 7:59PM

European stocks buoyed by French election outcome

By The Associated Press
Related Articles
  Contact Editor

TOKYO (AP) — European stocks led world markets higher on Monday after parliamentary elections in France gave a majority to President Emmanuel Macron, an outcome that will give him more power to reform the economy.

KEEPING SCORE: France's CAC 40 added 0.9 percent to 5,310 while Germany's DAX rose 0.8 percent to 12,855. Britain's FTSE 100 was up 0.6 percent at 7,506. U.S. shares were also set to drift higher with Dow and S&P 500 futures both edging up 0.3 percent.

FRANCE OUTLOOK: After Macron's party got a majority in parliament, he is expected to reshuffle his government and look to pass a first set of laws this summer to reform France's labor laws, among other things. The vote "will lend him enough support to rapidly implement his pro-business reform program," said Marion Amiot, senior economist at Oxford Economics. She raised her forecast for French economic growth for 2018 to 1.7 percent from 1.6 percent.

BREXIT TALKS: Brexit negotiations were starting officially on Monday, with question marks over Britain's approach after Prime Minister Theresa May lost her parliamentary majority in an election meant to strengthen her hand in the talks. Germany's foreign minister is talking about a chance of a "soft" British exit from the European Union that keeps the U.K. in the bloc's single market.

AMAZON GROCERIES: When Wall Street reopens, consumer stocks will be in focus after got shaken by online giant Amazon's purchase of Whole Foods. Whole Foods and Amazon stocks jumped on Friday, while Wal-Mart, Costco and Target tumbled. Amazon already runs AmazonFresh, a grocery delivery service.

ASIA'S DAY: Japan's benchmark Nikkei 225 gained 0.6 percent to 20,067.75, while Australia's S&P/ASX 200 added 0.5 percent to 5,805.20. South Korea's Kospi gained 0.4 percent to 2,370.90. Hong Kong's Hang Seng edged up 1.1 percent to 25,916.12, while the Shanghai Composite rose 0.7 percent to 3,144.37.

ENERGY: Benchmark U.S. crude rose 18 cents to $44.92 a barrel. It rose 28 cents on Friday. Brent crude, used to price international oils, gained 21 cents to $47.58 a barrel in London.

CURRENCIES: The dollar edged down to 111.01 yen from 111.15 late Friday in Asia. The euro rose to $1.1212 from $1.1152.

___

Follow Yuri Kageyama on Twitter at twitter.com/yurikageyama

Her work can be found at https://www.apnews.com/search/yuri%20kageyama

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Financial Markets
© Copyright 2017 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
FBI missed rigged jackpot in 2006 before lottery scheme grew
A 2006 FBI inquiry has emerged as a missed opportunity to stop a jackpot rigging scandal that corrupted the nation's $70 billion lottery industry for years while enriching a tiny group of insiders
7:30AM ( 7 minutes ago )
Google intensifies campaign against online extremism
Google is intensifying its campaign against online extremism, saying it will put more resources toward identifying and removing videos related to terrorism and hate groups
7:30AM ( 7 minutes ago )
European stocks buoyed by French election outcome
European stocks lead world markets higher after a parliamentary election in France gave a majority to President Emmanuel Macron, boosting his power to reform the economy
7:21AM ( 16 minutes ago )
Associated Press (AP)
Macron kicks off Paris Air Show with airborne entrance
The French president descended from the skies in a European military plane and Airbus and Boeing raced to impress with big plane orders as the Paris Air Show got underway
6:36AM ( 1 hour ago )
The Latest: Airbus gets 100-plane deal at Paris Air Show
Airbus has clinched a deal for 100 single-aisle A320neo planes in its first big move at the Paris Air Show
6:03AM ( 1 hour ago )
France's Macron to reshuffle government after parliament win
French President Emmanuel Macron is set to rearrange his Cabinet after his new centrist party swept parliamentary elections
5:21AM ( 2 hours ago )
AP Business
Global shares higher in subdued trading on Wall Street rise
Global shares are higher after Wall Street ended last week barely higher and investors watched for Brexit talks set to start later in the day
4:37AM ( 3 hours ago )
The Latest: UK: New siding on burned tower broke rules
Britain's trade minister says the exterior paneling used on the exterior of the London high-rise, in which dozens were killed in a fire, appears to have violated building rules
3:10PM ( 16 hours ago )
The Latest: UK official: Fire building materials broke rules
Britain's trade minister says the exterior paneling used on the exterior of the London high-rise, in which dozens were killed in a fire, appears to have violated building rules
8:52AM ( 22 hours ago )
AP Business - Economy
Stocks dip as Amazon-Whole Foods deal hammers grocery stores
US stocks are slipping as grocery stores, wholesale clubs and other retailers drop after Amazon said it will buy grocery chain Whole Foods for $13.4 billion.
3:26PM ( 2 days ago )
World stocks rise after Greek deal, Japan rate decision
World stocks mostly rose Friday after Japan's central bank kept intact its ultra-lax monetary policy and Greece got a new deal to receive money and ease its debt burden
8:32AM ( 2 days ago )
Asian shares mixed as Wall St tech dive weighs on sentiment
Asian shares mixed as Wall Street tech sell-off weighs on investor sentiment as central bank decisions remain in focus
3:05AM ( 3 days ago )
AP Business - Financial Markets
FBI missed rigged jackpot in 2006 before lottery scheme grew
A 2006 FBI inquiry has emerged as a missed opportunity to stop a jackpot rigging scandal that corrupted the nation's $70 billion lottery industry for years while enriching a tiny group of insiders
7:30AM ( 7 minutes ago )
Google intensifies campaign against online extremism
Google is intensifying its campaign against online extremism, saying it will put more resources toward identifying and removing videos related to terrorism and hate groups
7:30AM ( 8 minutes ago )
The Latest: German lobby calls for fast Brexit deal on trade
A top German business lobby is urging negotiators for Britain and the European Union to quickly come to an agreement over how Britain's departure from the EU will affect cross-border trade _ and avoid a "hard Brexit."
7:10AM ( 27 minutes ago )
The Latest: PM responds to complaints about mosque response
Prime Minister Theresa May has responded to complaints from some in the Muslim community that police failed to quickly respond to the attack on the north London mosque and declare it terrorism
7:09AM ( 28 minutes ago )
France's Macron to reshuffle govt after huge parliament win
French President Emmanuel Macron is set to rearrange his Cabinet after his new centrist party swept parliamentary elections
7:01AM ( 36 minutes ago )