European share benchmarks are lower, reversing strong dollar-driven gains in Asia, ahead of a press conference by President-elect Donald Trump.
KEEPING SCORE: France’s CAC 40 fell 0.5 percent to 4,864.78, while Germany’s DAX lost 0.4 percent to 11,541.02. Britain’s FTSE 100 slipped 0.1 percent to 7,267.22. U.S. shares were also set to drift lower, with Dow futures down nearly 0.1 percent and S&P futures were down 0.2 percent.
TRUMP FACTOR: Investors are awaiting Trump’s first news conference in nearly six months, as questions fly over Russia’s role in the election year hacking of Democratic groups. Markets are awaiting news on Trump’s plan to disengage from his businesses and on his policy positions.
THE QUOTE: “Trading is likely to remain cautious ahead of press conferences with Fed members on Thursday, and Trump tonight. There is little in the way of data to drive sentiment prior to these events,” Alex Furber, a sales trader at CMC Markets, said in a commentary.
SAMSUNG: Samsung’s strong earnings forecast helped drive gains on the South Korean stock market, where the Kospi added 1.5 percent to 2,075.17, its highest close in over a year. Samsung Electronics, the country’s biggest company, finished at a fresh record high of 1,914,000 won, up 2.8 percent, lifted by expectations of strong earnings by its computer chip business.
ASIA’S DAY: Japan’s benchmark Nikkei 225 rose 0.3 percent to close at 19,364.67. Australia’s S&P/ASX 200 added 0.2 percent to 5,771.50. South Korea’s Kospi was up 1.5 percent at 2,075.17. Hong Kong’s Hang Seng gained 0.8 percent to 22,935.35, but the Shanghai Composite slipped 0.8 percent to 3,136.75. Shares in Southeast Asia were mostly higher.
ENERGY: Benchmark crude rose 17 cents to $50.99 a barrel. It lost $1.14, or 2.2 percent, to close at $50.82 a barrel in New York. Brent crude, which is used to price oil sold internationally, added 38 cents to $54.02.
CURRENCIES: The dollar rose to 116.01 yen from 115.65 yen in late trading Tuesday in Asia. The euro fell to $1.0554 from $1.0607.