World stocks flat, oil and gold edge up on Ukraine, China

by SIMON JESSOP, Reuters
March 11, 2014

LONDON | World stocks held steady, the euro edged down and oil and gold nudged up on Tuesday as traders kept a wary eye on tensions between Ukraine and Russia and the pace of growth in China.

That pattern was set in Asia, where markets took a break from recent volatile trading but struggled to do much more than make incremental moves. U.S. stock index futures .SPc1 and benchmark debt were also flat ahead of the Wall Street open.

World shares .MIWD00000PUS and the euro zone’s blue-chip Euro STOXX 50 .STOXX50E were both down 0.1 percent after hovering near the previous day’s close for most of the morning, unable to match the marginal gains seen in Asia .MIAPJ0000PUS.

“Market players remain cautious. There’s a lack of enthusiasm in chasing stocks, and some are just thinking about moving to the sidelines after the roller-coaster ride we’ve had since the start of the year,” said Guillaume Dumans, co-head of research firm 2Bremans.

The standout gainer across European indexes was Portugal’s PSI 20 .PSI20, which rose 0.8 percent for a gain close to its three-year intraday high, as debt yields in the country dropped to their lowest since April 10 on optimism the country can exit its international bailout program later this year.

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