Stocks hit by profit-taking

Published April 15, 2018, 12:00 AM

by manilabulletin_admin

By (AFP)

New York – European stocks ran into profit-taking Friday as many investors, wary of global uncertainty and US President Donald Trump’s volatile Twitter diplomacy, cashed out before the weekend, traders said.

Bourses in Paris and Frankfurt had posted solid gains earlier in the session after Trump put off a decision about military strikes in Syria, giving investor nerves a welcome break.

Although tensions appeared to be easing, few dared to carry positions into the weekend, fearing they may regret it come Monday morning. Equity markets in Europe finished with modest gains.

“Traders remain cautious heading into the weekend,” said Craig Erlam at OANDA. “Given the backdrop of a trade conflict with China and rising tensions with Russia over Syria, any rallies may be somewhat gradual.”

 
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