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Dublin: 13 °C Monday 14 October, 2019
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Stocks open mixed as Europe summit disappoints

European markets are up – but only modestly – while the US markets tread water after an indecisive summit in Brussels.

Image: AP

WORLD STOCK MARKETS are seeing a day of mixed fortunes, as members respond to an inconclusive summit of EU leaders in Brussels.

US indexes are little changed in early trading, with investors sharing the belief that the European summit delivered no concrete solutions for the region’s debt troubles.

Tiffany & Co plunged 5 per cent after the luxury retailer cut its 2012 sales forecast.

The Dow Jones industrial average was down 11 points at 12,484 shortly after the opening bell.

The Standard & Poor’s 500 index edged up less than a point to 1,319, while the Nasdaq composite fell six to 2,843 – where Facebook shares are having their second day of moderate gains, up by 1.8 per cent in early trading.

In Europe the fare is a little better, with the FTSE in London up by 1.3 per cent while the CAC in Paris is up by 0.9 per cent, and the DAX in Frankfurt by 0.5 per cent. In Dublin, the ISEQ index rose by 0.7 per cent.

European leaders concluded their latest summit early Thursday with few concrete steps to fix the continent’s financial crisis even as the potential for a messy Greek exit from the euro appears to increase.

Additional reporting by AP

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Gavan Reilly

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