![Global stocks mixed as markets await French vote, US debate](https://photo-cdn.urdupoint.com/images/UrduPoint-English-22.png)
Global Stocks Mixed As Markets Await French Vote, US Debate
Fahad Shabbir (@FahadShabbir) Published June 28, 2024 | 12:30 PM
![Global stocks mixed as markets await French vote, US debate](https://photo-cdn.urdupoint.com/images/UrduPoint-English-22.png)
New York, (APP - UrduPoint / Pakistan Point News - 28th Jun, 2024) Global stocks were mixed Thursday as Europe geared up for key elections, the United States awaited influential inflation data and a presidential debate, and Japan contemplated measures to strengthen the yen.
The Japanese Currency scratched out only a tiny gain against the Dollar after hitting a 38-year low Wednesday, putting investors on alert for a possible intervention by Japanese authorities.
Investors were meanwhile awaiting the outcomes of French and British general elections due over the next week.
Wall Street stocks finished modestly higher after a choppy session, with investors looking ahead to key inflation data as well as Thursday night's presidential debate featuring US President Joe Biden and his predecessor Donald Trump.
The debate "has imbued the market with a bit of a wait-and-see attitude," said Briefing.com analyst Patrick O'Hare.
Friday sees the release of the PCE index, the US Federal Reserve's preferred measure of inflation.
"Should this point towards a further slowdown in price growth then the final day of June trading might go the same way as May's, which saw a strong rally," said Chris Beauchamp, chief market analyst at online trading platform IG.
"A softer PCE reading could renew hopes of a September rate cut, which have taken a knock of late," he added.
In Japan, vice finance minister Masato Kanda said this week that authorities were keeping a close eye on movements in foreign exchange markets and were ready to step in with Yen support 24 hours a day.
In Europe, France's political future was up in the air with the far right surging in polls as President Emmanuel Macron's centrist alliance battles to make up ground.
Paris stocks ended the day down 1.0 percent.
The French election comes ahead of a UK national vote on July 4, with the right-wing Conservatives led by Prime Minister Rishi Sunak expected to lose power to the center-left Labour party. London's blue-chip FTSE 100 index shed 0.6 percent.
- Key figures around 2030 GMT -
New York - Dow: UP 0.1 percent at 39,164.06 (close)
New York - S&P 500: UP 0.1 percent at 5,482.87 (close)
New York - Nasdaq Composite: UP 0.3 percent at 17,858.68 (close)
London - FTSE 100: DOWN 0.6 percent at 8,179.68 (close)
Paris - CAC 40: DOWN 1.0 percent at 7,530.72 (close)
Frankfurt - DAX: UP 0.3 percent at 18,210.55 (close)
EURO STOXX 50: DOWN 0.3 percent at 4,902.60 (close)
Tokyo - Nikkei 225: DOWN 0.8 percent at 39,341.54 (close)
Hong Kong - Hang Seng Index: DOWN 2.1 percent at 17,716.47 (close)
Shanghai - Composite: DOWN 0.9 percent at 2,945.85 (close)
Dollar/yen: DOWN at 160.79 yen from 160.81 yen on Wednesday
Euro/dollar: UP at $1.0707 from $1.0681
Euro/pound: UP at 84.67 pence from 84.62 pence
Pound/dollar: UP at $1.2642 from $1.2622
Brent North Sea Crude: UP 1.3 percent at $86.39 per barrel
West Texas Intermediate: UP 1.0 percent at $81.74 per barrel
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