Global Investors Adjust to Rising Political Risks
Here is your round-up of the financial news from around the world:
1. European stocks open lower Tuesday as global investors trim risky positions amid rising political tensions in the Gulf region and the ongoing turmoil in the White House which has essentially neutralized the administration of President Donald Trump.
2. Politics also played a significant part in the two-day fall witnessed in global crude prices, which extended declines Tuesday amid the ongoing Saudi Arabia-led isolation of Qatar. West Texas Intermediate crude futures for July delivery were marked 0.6% lower at $47.12 as investors bet that the recent agreement by OPEC producers to extend their output cuts into 2018 could potentially unravel. Brent crude futures for the August, the global benchmark, were seen 0.5% lower at $49.17
3. The U.S. dollar index, a measure of the currency's strength against six of its global peers, was marked 0.2% lower at 96.61 in early European trading as investors continued to react to softer data from the world's biggest economy and positioned themselves ahead of potential testimony Thursday from former FBI director James Comey.
4. Roche AG (RHHBY) shares fell the most in more than two years Tuesday after data that indicated a new form of breast cancer treatment by the Swiss drugmaker, which combined and older drug with a recently developed one, had only a limited impact on patients.
Read More:
European Stocks Called Lower as Gulf Tensions, U.S. Politics Keep Investors Cautious
Roche Shares Fall Sharply After APHINITY Trial Data on Breast Cancer Treatment
Gold Hits 6-Week High Ahead of Key Events, Nears $1,300
Investors Are Still Devouring Apple, Facebook and Amazon, but Dumping These Two Dogs
Closing Bell: Stocks Snap Two-Day Winning Streak; Apple to Add Amazon prime to Apple TV
This article was written by a staff member of TheStreet.
