May 22, 2013
Global shares fall despite global central bank action
US stocks edged down on Thursday as economic stimulus measures by major central banks failed to excite investors before a US jobs report expected to show tepid growth.
The Dow Jones industrial average was down 47.15 points, or 0.36 percent, at 12,896.67. The Standard & Poor's 500 Index was down 6.44 points, or 0.47 percent, at 1,367.58. The Nasdaq Composite Index was up 0.04 point at 2,976.12.
European shares slipped from two-month highs to end lower as a slew of largely expected measures by central banks to boost growth prompted investors to book profits, while stronger economic data dimmed chances of more US stimulus.
The FTSEurofirst 300 index closed 0.1 percent lower at 1,044.47 points. The index had earlier hit 1,054.02, its highest since early May, after China's central bank surprised with a rate cut. But an ECB rate cut and the Bank of England launching further monetary stimulus were both as expected.
Japan's Nikkei share average edged lower today, with traders saying they believed a one-month rally that had taken the benchmark to a 2-month high and close to resistance at its 75-day moving average was running out of steam.
The Nikkei has risen almost 10 percent over the past month, with an extra boost coming from last Friday's EU decision to help the region's banking sector.
The broader Topix index dropped 0.3 percent to 776.37 in relatively light trade, at just 75 percent of its 90-day average volume.