London — World stocks were set for their longest losing streak in more than six months on Wednesday as weaker commodities weighed, while the euro hit its highest levels in three weeks. The MSCI world equity index, which tracks shares in 47 countries, fell almost 0.2% and was set for its fifth straight day of declines — its longest run in the red since March. A slide in crude oil prices on concern about the outlook for demand, and weaker metals prices weighed on mining and energy stocks across Asia and Europe, which took their cues from the previous day’s stock declines in the US. The pan-European STOXX 600 index was down 0.6 percent and at its lowest level since September 21. The index is still up nearly 6% so far this year. The UK’s top share index, the FTSE 100, declined 0.3% while Germany’s export-oriented Dax fell 0.7%, weighed down by a stronger euro, which had risen nearly 0.5% in European trading hours. MSCI’s broadest index of Asia-Pacific shares outside Japan earlier fell 0...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.