Gains in global markets hampered by later shipping date for new iPhone
London — Disappointment over the timing of Apple’s iPhone X release hampered further gains for world stock markets on Wednesday, after an easing of concerns about North Korea sent indices to record highs. With Tokyo gaining on a broadly weaker yen, MSCI’s main indicator of Asian shares hit a 10-year peak, but Europe’s main markets all dipped in early trade. Apple suppliers including AMS, IQE and Dialog fell by 2%-5% at the opening, with traders citing the later than expected November 3 shipping date for the new iPhone as the main reason. That followed a small fall in Apple shares as Wall Street surged back to record highs on Tuesday. "There has been just a minor retracement, hardly an indication of which way the European session will be headed today," analysts from Italy’s Unicredit said in a morning note. "If there is anything that surprises us equity bulls, it is the almost linear nature of the [global] move without severe setbacks." The pan-European Stoxx 600 dipped 0.3% as weakn...
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