Wed. Aug 10th, 2022

Updated June 20, 2022 3:57 am ET

International stocks were mixed Monday as investors responded to conflicting signals about the economy, while US markets were closed for the public holiday.

The three major indexes finished last week with sharp losses. The S&P 500 fell 5.8% for the week, its largest decline since the Covid pandemic roiled markets in March 2020. The Dow fell 4.8% for the week, its biggest drop since October 2020.

On Monday, the pan-European Stoxx Europe 600 index was broadly flat, as gains in financials and consumer discretionary sectors were muted by losses in materials and industrial sectors. Carnival added 4.6% for a two-session winning streak and Royal Mail jumped 3.8%. Rio Tinto Group slipped 2.3% for a three-day losing streak and easyJet declined 3.6%.

The FTSE 100 climbed 0.4%. Other stocks in Europe were mixed as UK’s FTSE 250 gained 0.3% and Germany’s DAX gained 0.2%, whereas France’s CAC 40 traded mostly flat and lost 0.1%.

The Swiss franc and the euro were up 0.4% and 0.3% respectively against the US dollar and the British pound was flat against the US dollar, with 1 pound buying $ 1.22.

South Korea’s Kospi index fell 2%, weighed down by Samsung Electronics.


Photo:

Ahn Young-joon / Associated Press

In commodities, international benchmark Brent crude was down 0.1% to $ 113.02 a barrel. Gold was up 0.1% to $ 1,842.70 a troy ounce.

The yield on German 10-year bunds rose to 1,677% from 1,658% and 10-year gilts yields gained to 2,506% from 2,500%. Yields move inversely to bond prices.

In Asia, indices were mixed as Hong Kong’s Hang Seng climbed 0.3% after falling as much as 1% during the session, whereas Japan’s Nikkei 225 index was lower 0.7% after trading higher 0.7% and China’s benchmark Shanghai Composite was flat after teetering between 0.5 % and minus 0.7%.

—An artificial-intelligence tool was used in creating this article.

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