FTSE 100 down as shares hit by US-North Korea tensions

FTSE 100 down as shares hit by US-North Korea tensions

The data maintained concerns surrounding lower than expected United States inflation which could deter the Federal Reserve from raising interest rates again this year. "One can buy around Rs 29,050 with a stop loss below Rs 28,870". Reuters data show a 28-percent chance for a hike after the Fed's December meeting. The dollar was at an eight-week low against the Japanese yen during Asian trading.

"Traders should closely watch global equities today, with further falls and risk aversion likely pumping more safe-haven flows into precious metals", said Jeffrey Halley, a senior market analyst at OANDA.

Stocks took a hit for a third straight day Thursday as North Korea's nuclear threats seemed again to roil the markets. The Nasdaq index declined over 2% on the day with the S&P 500 index retreating around 1.5%.

Sterling reversed higher from a three-week low of $1.2950 touched prior to the data to climb to just above the $1.30 level in afternoon European trading.

South Korea's KOSPI fell 1.4 percent, taking its losses this week to almost 3 percent.

European markets also slid in early trade after Wall Street indices suffered their biggest losses in almost three months Thursday, while the dollar struggled to recover from eight-week lows below 109 yen as investors fled to safe haven assets.

Wall Street saw a stock sell-off on Thursday as rising tensions between the USA and North Korea filled investors with worry.

The yen is often sought in times of geopolitical tension, partly because Japan has a big current account surplus, and it being the world's biggest creditor nation, there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.

The broad-based S&P 500 was hit even harder, dropping 1.5 percent to close at 2,438.22, while the tech-rich Nasdaq Composite Index lost 2.2 percent 6,216.87.

Investors bought bonds after the Labor Department said the consumer-price index increased 0.1% in July from the previous month.

The 1.3 percent gain for the market's main other choice for borrowing to fund speculation, the Swiss franc against the euro, is its biggest rise in more than a year. It is poised to end the week down 1 percent.

Markets had earlier stabilised as Tillerson tried to ease tensions, saying he did not believe there is "any imminent threat" to Guam, and expressed hope diplomacy would prevail. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189 percent.

Gold was up $3 at $1293 an ounce, adding to 2-month highs.

Overall, gold retreated to around $1.285 per ounce later in United States trading.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in USA crude inventories. Australia's S&P/ASX 200 edged down almost 0.1 percent to 5,760.90, while South Korea's Kospi fell 0.5 percent to 2,357.84.

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