12/06/2017 12:24 AST

European stocks fell as investors dumped technology shares while assessing political events in the U.K. and France.

The Stoxx Europe 600 Index dropped 0.6 percent at 8:38 a.m. in London. Technology shares led the declines, following their peers in U.S. and Asian markets, with the European tech sector heading for its worst drop since October 2016. The Stoxx 600 rose 0.3 percent Friday, boosted by gains in the U.K.’s FTSE 100 Index.

French President Emmanuel Macron’s year-old party, Republic on the Move, won 32.3 percent of the vote alongside its centrist ally MoDem, more than 13 percentage points ahead of the Republicans’ group, according to the Interior Ministry’s final vote count.

U.K. Prime Minister Theresa May will face lawmakers from her Conservative Party on Monday, one day after she was forced to promote prominent Brexit hardliners in her bid to cling to power. The Tories lost their parliamentary majority in Thursday’s general election.

“We prefer Europe ex-U.K. to U.K. equities, with better economic momentum in Europe and higher political risk now in the U.K. post-election,” Citigroup Inc. strategists wrote in a note. Italy’s FTSE MIB Index was trading little changed, outperforming most other Western European gauges, after Italy’s opposition Five Star Movement suffered heavy setbacks in local elections on Sunday.

Traders are pricing in a 95 percent chance that the Federal Reserve increases interest rates at this week’s meeting, trading in fed fund futures indicates.


Ticker Price Volume
QNBK 123.29 21,021
SABIC 98.36 2,678,948
BURUJ 31.91 410,497
ALMARAI 57.00 297,165
TAWUNIYA 97.04 165,611
RJHI 64.70 2,278,806
JARIR 143.98 13,484
Index Closing Change
NIKKEI 225 21,457.64 9.12 (0.04%)
DAX 12,991.28 1.18 (0.00%)
S&P 500 2,575.21 13.11 (0.51%)
China economy on track to hit official 2017 growth target


China’s economy is on track to meet the official growth target for 2017, the head of the state planning agency said on Saturday.

“We expect to achieve the full-year growth target of about 6

Oman Daily Observer

Global IT spending to reach $3.7trn


Range from technologies that enhance the digital workplace, such as workstream collaboration, workforce analytics and video message-oriented middleware (MOM), to security (endpoint detection and res

Saudi Gazette

Hong Kong stocks advance after biggest tumble this year


Hong Kong stocks rose, led by a rebound in shares that had driven a slump on Thursday.

The Hang Seng Index advanced 1% as of 08:26 as Industrial & Commercial Bank of China and Ping An Insu


Brazil stocks higher at close of trade; Bovespa up 0.14%


Brazil stocks were higher after the close on Friday, as gains in the Basic Materials, Financials and Public Utilities sectors led shares higher.

At the close in Sao Paulo, the Bovespa rose 0


Most Asian bourses extend gains


Asian and European markets rose yesterday, with Japan’s Nikkei clocking up a record-equalling 14 straight wins, while the dollar also rallied on hopes for Donald Trump’s tax cut plans.

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