Finance

European stocks rise as Brits head for polling stations on election day


Stocks in Asia hit 27-month highs overnight with the Nikkei (^N225) rising 0.8% on the day in Japan to within spitting distance of its March peak. The Hang Seng (^HSI) climbed 0.2% in Hong Kong.

However, the Shanghai Composite (000001.SS) was 0.8% down by the end of the session.

It came amid lower-than-expected employment figures narrowed the odds on a September rate cut in the US. The Independence Day holiday in the United States meant thin trading, as investors waited to see the outcome of the UK election.

On Wall Street, the S&P 500 (^GSPC) rose 0.5% to 5,537.02, to set an all-time high for a second straight day and for the 33rd time this year.

The Dow Jones Industrial Average (^DJI) slipped 0.1% to 39,308.00, while the tech-heavy Nasdaq (^IXIC) gained 0.9% to its record set the day before, closing at 18,188.30.

Trading ended early for the day ahead of the Fourth of July holiday.

Across the English Channel, polls suggested the National Rally (RN) would not win a majority of seats in Sunday’s French election as mainstream parties moved to block the far-Right.

The yield on benchmark 10-year US Treasury bonds dropped to 4.35% from 4.44% late on Tuesday, a notable move for the bond market, and much of the slide came after a report on US services businesses.



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