Premarket: Global shares fall as China stimulus worries offset upbeat earnings GlobeInvestor
World shares took a step back on Wednesday as signals that China has put broader stimulus on hold offset positive results from Credit Suisse, which kicked off the earnings season for European investment banks.
Credit Suisse’s shares rose 3.9 per cent after the bank posted an unexpected rise in earnings and said it was cautiously optimistic about the second quarter following a challenging start to the year. SAP climbed 6 per cent as the company set new medium-term profit targets after reporting a first-quarter operating loss that chiefly resulted from a restructuring charge.In Asia, the biggest regional loser was South Korea’s KOSPI , which fell 0.9 per cent, with Samsung Electronics down 1 per cent.
The MSCI world equity index, which tracks shares in 47 countries, edged down 0.1 per cent in early European trade.Sri Lanka’s main stock index traded at its lowest since December 2012 following the deadly Easter Sunday attacks that killed more than 350 people. Analysts have said the country’s economy might need IMF assistance to overcome the devastation from the incident.
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