On 27 November, 2015 – European stocks weighed down by mining stocks

European stocks slipped on Friday, pulling back from three-months highs, as commodity shares bore the brunt of the fallout from a slide in Chinese equities and strengthening in the US dollar.
United States
US stocks ended Friday’s short session virtually unchanged, as a selloff in energy stocks triggered by another drop in oil prices was offset by gains in defensive plays such as telecoms, utilities and consumer staples.  The New York Stock Exchange and the Nasdaq closed at 1 p.m. Eastern Time.  The S&P 500 closed up 1.24 points, or less than 0.1% at 2,090.11, with seven of its 10 main sectors finishing in positive territory. The Dow Jones Industrial Average ended 14.90 points, or less than 0.1% lower at 17,798.49. The Nasdaq Composite gained 11.38 points, or 0.2%, to 5,127.52. US investors seemed largely unrattled by a rout on the Shanghai Composite Index on Friday, which came after Chinese stock regulators launched investigations into two major Chinese brokerages over suspected violations of securities rules.
Europe
European stocks slipped Friday, pulling back from three-month highs, as commodity shares bore the brunt of the fallout from a slide in Chinese equities and strengthening in the US dollar. The Stoxx Europe 600 fell 0.2% to 383.67, led lower by the basic materials and oil and gas groups. But advances for telecom, industrial, consumer services and tech shares helped limit the decline on the pan-European index. Among gainers, Banca Monte dei Paschi di Siena rose 1.9% after a check of the Italian lender met the European Central Bank’s capital requirements, according to Dow Jones Newswires. Infineon Technologies climbed 3.6% after Credit Suisse raised its price target on the German chip maker to 14.25 euros. Infineon rallied nearly 13% Thursday following a profit jump. In Frankfurt, the DAX 30 shed 0.2% to end at 11,293.76, and France’s CAC 40 finished 0.3% lower at 4,930.14. The Stoxx 600 closed the week up by 0.5%, helped by Thursday’s surge of 0.9% to 384.37, its best finish since August 18.
Mining stocks were hit on Friday following a tumble in Chinese equities, which came after a Chinese regulator said it’s investigating two major Chinese brokerages over suspected securities-rules violations. Separately, Chinese data showed profit for industrial companies fell for a fifth straight month in October, down 4.6% from the year-ago period. With miners key for the FTSE 100, the UK’S blue-chip index declined 0.3% to 6,375.15. Oil prices, meanwhile, were driven down more than 2%, with oversupply worries and gains for the US dollar hurting the dollar-denominated commodity. Shares of oil producer Tullow Oil stumbled 3% and Norway’s Statoil lost 1.8%.
Asia Pacific
Asian stocks fell in early trade on Monday with emerging-nation currencies as Chinese brokerage stocks extended declines amid a regulatory probe. The yuan rallied offshore and oil gained. The Asian equity benchmark was on track for its sixth loss in seven months after the steepest slump in Shanghai shares since August on Friday. Indonesia’s rupiah weakened with the Malaysian ringgit, while China’s yuan rallied in offshore markets before the International Monetary Fund decides on its reserve-currency status Monday. The MSCI Asia Pacific Index lost 0.7% as of 12:27 p.m. Tokyo time, to bring its drop in November to 1.7%. Japan’s Topix index fell 0.6%, while the Kospi index in Seoul slipped 1.7%. Australia’s S&P/ASX 200 Index was down 0.6% after falling 1% in the five days to Nov. 27.
The Shanghai Composite Index slid 1.6%, the Hang Seng Index fell 0.2% while the Hang Seng China Enterprises Index, a gauge of mainland stocks listed in Hong Kong, lost 0.8%.
Global Stock Market Recap

Please remember, the value of investments and the income from them can do down as well as up. Funds that invest in overseas markets may be subject to currency fluctuations. Investments in small and emerging markets can be more volatile than other overseas markets. Reference in this document to specific securities should not be construed as a recommendation to buy or sell these securities, but is included for the purposes of illustration only.
Looking forward*
Investors this week will see how the US consumer will spend as early holiday shopping sales data roll in and the November jobs report indicates whether there has been any real wage growth. With a raft of data coming this week, two things are going to stand out: early returns on Black Friday and Cyber Monday sales, and the last jobs report before the Federal Reserve meets in December. Other economic indicators out this week include November car sales and the ISM manufacturing indicator on Monday, the ISM services indicator on Thursday and the US November jobs report on Friday. The European Central Bank’s (ECB) meeting on Thursday stands to be the marquee event for European markets next week. Many analysts will look for ECB President Mario Draghi to possibly unveil further actions aimed at helping the eurozone economy fight low inflation and sluggish growth.
*Note — all releases are listed in local time.