Yahoo Finance What to Watch: Stocks mixed after US boom, oil slips, Gatwick takeover
Here are the top business, market and economic stories you should be watching today in the UK, Europe and around the world:
Stocks soft following US boom
It was a memorable day for US markets on Wednesday, but it’s looking like Thursday could be a day to forget.
The S&P 500 (^GPSC) and Dow Jones industrial average (^DJI) both rallied by a whopping 5% on Wednesday, with both indices registering their biggest ever gains in terms of points added. The Nasdaq (^IXIC) surged 5.8% as tech firms led the charge higher.
However, international markets weren’t posting the same types of exuberant gains on Thursday. And US stock futures were pointing down again, indicating stocks could drop about 1% when trading begins.
Moves in European stock markets were muted on Thursday morning. Britain’s FTSE 100 (^FTSE) was moving between positive and negative territory. Germany’s DAX (^GDAXI) was down by about 0.8%. France’s CAC 40 (^FCHI) was jumping by about 0.5%.
Japan’s Nikkei 225 (^N225) was the standout performer in Asian markets on Thursday, rising by 3.9%.
Oil slips again
Oil prices were slipping by roughly 2% on Thursday after rebounding 8% in the previous session, as worries over excess crude supplies and a faltering global economy put pressure on prices.
Brent crude oil (BZ=F) was down about 2.5% to trade around $53 per barrel. WTI crude futures (CL=F) were sliding by roughly 2% to trade around $45 a barrel.
Oil prices reached multi-year highs in early October but have fallen almost 40% since then and are now approaching their lowest levels for 18 months.
Brent is heading for losses of almost 30% this year while the US contract has dropped almost 25%.
Gatwick takeover
French construction group Vinci (DG.PA) announced it is buying a 50.01% stake in London’s Gatwick airport for about £2.9bn ($3.7bn).
The deal makes Gatwick the largest in Vinci’s airport network. It currently owns a stake in 45 other airports across 12 countries.
“The transaction represents a rare opportunity to acquire an airport of such size and quality,” Vinci said in a statement.
The other 49.99% of London Gatwick will be managed by Global Infrastructure Partners.
Gatwick made headlines last week after three days of drone sightings caused chaos at Britain’s second busiest airport and forced it to close its runway.
With files from Reuters
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