Global Stocks Slip as Raft of Data Cautiously Awaited
May 04 2016 - 4:30AM
Dow Jones News
A selloff in the mining sector kept stocks subdued Wednesday as
investors remained cautious ahead of key readings on the U.S. and
European economies.
The Stoxx Europe 600 dipped 0.2% in early trade, weighed by the
basic resources sector. Shares in BHP Billiton were down 5.5% after
Brazilian federal prosecutors filed a lawsuit against the
Anglo-Australian miner as well as Vale SA and Samarco Mineraç ã o
over a dam failure in November.
European bank shares, however, managed to eke out small gains
after France's Socié té Gé né rale SA reported an increase in
first-quarter net profit, sending shares of the lender up 3.4%.
Earlier, shares in Asia mostly ended lower, weighed by losses on
Wall Street and recent declines in the oil price. Australia's
S&P ASX 200 fell into negative territory for the year, while
shares in Hong Kong ended down 1%. Shares in Shanghai were little
changed, while markets in Japan were closed for a holiday.
Later Wednesday, investors will eye a raft of economic data
including readings on the U.S. and eurozone services sectors, the
U.S. trade balance, and a survey of U.S. private payrolls.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
May 04, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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