Global stocks lifted by news FBI not to charge Clinton

November 7, 2016

SEOUL, South Korea (AP) — Global stocks started the week on a strong note Monday after the director of the FBI said the bureau found no evidence warranting criminal charges against presidential candidate Hillary Clinton in a trove of newly discovered emails.

KEEPING SCORE: Britain’s FTSE advanced 1.4 percent to 6,789 while France’s CAC 40 jumped 1.7 percent to 4,450 and Germany’s DAX rose 1.6 percent to 10,421. Wall Street was due for sharp gains, with Dow and S&P futures both up 1.3 percent.

ELECTION UPDATES: Dow Jones index futures jumped about 200 points ahead of Monday’s opening, apparently in response to FBI Director James Comey’s announcement Sunday that a review of new Hillary Clinton emails did not change the FBI’s recommendation that she should not face charges. The market had wilted on Oct. 28 after the FBI notified Congress that it was reviewing new emails linked to Clinton.

ANALYST COMMENT: “Markets are likely to remove some of the risk premium taken as a precaution against a (Donald) Trump victory now that Hilary Clinton will not be charged over her use of a private email server,” Ric Spooner, chief market analyst at CMC Markets, said in a commentary. “However, an element of uncertainty remains over this election. It seems unlikely that markets will make a full ‘risk on’ move until Clinton is declared the winner.”

ASIA’S DAY: Japan’s Nikkei 225 finished 1.6 percent higher at 17,177.21 and South Korea’s Kospi gained 0.8 percent to 1,997.58. The Hang Seng index in Hong Kong added 0.7 percent to 22,801.40, while Australia’s S&P ASX/200 jumped 1.4 percent to 5,250.80. Shanghai’s Composite index added 0.3 percent to 3,133.33. Stocks in Taiwan and Southeast Asia were mostly higher, but the Philippine benchmark index fell 0.4 percent.

CURRENCIES: The U.S. dollar rose across the board. It was up to 104.33 yen from 103.11 on Friday. The euro slipped to $1.1067 from $1.1142 on Friday. The Mexican peso jumped nearly 2 percent. The dollar fell to 18.66 Mexican pesos per dollar from 19.02 to the dollar on Friday.

ENERGY: U.S. benchmark crude oil rose 63 cents to $44.70 a barrel in electronic trading on the New York Mercantile Exchange. It lost 59 cents on Friday. Brent crude, which is used to price international oils, gained 54 cents to $46.12 a barrel in London.


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