European stocks remain thesame, Asian stocks mix on inflation concerns - GulfToday

European stocks remain thesame, Asian stocks mix on inflation concerns


Picture used for illustrative purpose. File

Gulf Today Report 

European stock recorded little change on Tuesday as investors focus on the possibility of higher inflation overweighing global economic recovery. 


In London, the FTSE 100 index was virtually unchanged at 6,716.32 points.


In Frankfurt, after another record high on Monday, the DAX 30 slipped around 0.3 per cent to 14,343.02 points and in Paris, the CAC 40 index was flat at 5,903.26 points. 


On Monday, European markets recorded gains following pledge by EU leaders to double vaccine deliveries.  



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Asian stock 


Asian shares mixed on Tuesday due to optimism surrounding the passage of the US stimulus package, however, concerns about inflation and coronavirus pandemic tempered with the markets. 


Japan's benchmark Nikkei 225 added nearly 1.0% to finish at 29,027.94. South Korea's Kospi slipped 0.7% to 2,976.12. Australia's S&P/ASX 200 added 0.5% to 6,771.20. Hong Kong's Hang Seng edged up 0.2% to 28,584.96, while the Shanghai Composite slipped 1.8% to 3,359.26. 



Jingyi Pan, senior market strategist with IG in Singapore, said Asian markets were weighing "the impact of a global recovery alongside the prospect of an accelerating climb in US bond yields.”