European markets were in a slump Thursday as investors pulled back from their recent buying spree.
The London-based FTSE index was 0.6% lower at midday. The CAC-40 in Paris was down 0.2%, while Frankfurt’s DAX index was 0.3% higher.
Asian markets finished mostly lower earlier in the day. Japan’s benchmark Nikkei index dropped 0.1%, while both the Hang Seng index in Hong Kong and the KOSPI in South Korea plunged 1.5%. Mumbai’s Sensex fell 0.7%.
Shanghai’s Composite index gained 0.5% in its first trading session after a long Lunar New Year holiday, and Taiwan’s TSEC closed up 0.3%.
Elsewhere, Australia's S&P/ASX index finished nearly three-quarters of one point higher (+0.01%).
In commodities trading, gold was selling at $1,782.00 per ounce, up 0.5%. U.S. crude oil was selling at $61.47 per barrel, up 0.5. Brent crude was also 0.5% higher, selling at $64.67 per barrel.
All three major U.S. indices were trending downward in futures trading ahead of Thursday’s opening bell on Wall Street.
European Markets Down as Gold, Oil Maintain Solid Gains
The CAC-40 in Paris was down 0.2%, London-based FTSE index was 0.6% lower at midday and Frankfurt’s DAX index was 0.3% higher.