Europe Stocks Fall, Posting April Drop, on Fed Rate-Rise Concern

A third day of declines pushed European stocks to their first monthly drop of the year, as the Federal Reserve left open the prospect of interest-rate increases even amid weak U.S. growth.

The Stoxx Europe 600 Index slid 0.4 percent to 395.79 at the close of trading, after earlier losing as much as 1 percent. Shares briefly rose 0.2 percent after data showed U.S. jobless claims fell to a 15-year low. European stocks have fallen 4.4 percent from an April 15 record, posting a monthly drop of 0.4 percent, as some companies reported disappointing earnings and talks over Greece’s debt reached an impasse.

Fed policy makers maintained the possibility of raising interest rates in the second half of this year by playing down the significance of the economic slowdown. The central bank repeated its view that growth will rebound to a “moderate pace,” damping speculation that it may delay its first rate increase since 2006 until next year.
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Source : Bloomberg

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U.S. Stocks Pare Monthly Gain; Treasuries Drop, Dollar Advances

U.S. stocks retreated, paring a monthly gain, as biotechnology shares extended a selloff and Apple Inc. slid. Treasuries fell and the dollar rose after data showed signs of improvement in the American economy, while oil headed for its best monthly advance since 2009.

The Standard & Poor’s 500 Index fell 0.6 percent at 10:04 a.m. in New York, trimming its monthly gain to 1.2 percent. Apple lost 1.8 percent to drag technology shares lower. The yield on 10-year Treasuries rose five basis points to 2.09 percent. The Bloomberg Dollar Spot Index added 0.3 percent, after the U.S. currency reached its weakest level versus the euro since Feb. 26. Oil in New York slipped 0.2 percent.

U.S. jobless claims fell to a 15-year low and consumer spending climbed in March, supporting the Federal Reserve’s view that the recent economic slowdown is due to “transitory factors.” German government bonds extended a selloff that left yields at a seven-week high as investors turned against record-low borrowing costs. Treasuries fell a fourth day in the longest skid since February.

European stocks have fallen more than 4 percent from an April 15 record, leaving them little changed in the month. The selloff in the region’s bonds reflects growing angst among investors after the European Central Bank’s quantitative-easing program sent yields to unprecedented lows from Germany to Spain.

Source: Bloomberg

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Japan Stocks Fall as BOJ Refrains From Boosting Record Stimulus

Japanese stocks fell as the Bank of Japan refrained from boosting record stimulus and after the Federal Reserve kept interest rates on hold as data showed the world’s biggest economy barely grew last quarter.

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Honda Motor Co. tumbled 6.7 percent and Shin-Etsu Chemical Co. slid 7 percent after reporting profit that missed estimates. Takeda Pharmaceutical Co. slumped 2.1 percent after saying it will pay $ 2.37 billion to resolve U.S. lawsuits accusing the company of hiding cancer risks from its Actos diabetes medicine. TDK Corp. gained 4 percent, the most on the Nikkei 225 Stock Average, after its dividend target beat estimates.

The Topix index lost 2.1 percent to 1,592.79 at the close in Tokyo, its biggest loss since Jan. 6, as it reopened after a holiday. All but two of its 33 industry groups fell. Volume on the measure was about 25 percent above its 30-day average. The Nikkei 225 dropped 2.7 percent to 19,520.01.

Source : Bloomberg

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