May 19, 2013
Global stocks slip on ECB comment
Global shares closed almost flat on Monday after the European Central Bank sought to squash speculation about a form of market intervention to contain the euro zone debt crisis, damping recent investor enthusiasm for risk.
Oil and Treasury prices also hugged their break-even point as the US stock market closed virtually unchanged and posted one of its lightest trading volumes of the year.
The Dow Jones industrial average closed down 3.56 points, or 0.03 percent, at 13,271.64. The Standard & Poor's 500 Index fell 0.03 points, or 0.00 percent, at 1,418.13. The Nasdaq Composite Index slid 0.38 points, or 0.01 percent, at 3,076.21.
Europe's top shares fell, dragged down by weakness in banks, as the European Central Bank and Germany's finance ministry deflated hopes the ECB was preparing to cap the borrowing costs of troubled sovereign borrowers.
The FTSEurofirst 300 closed down 5.3 points, or 0.5 percent, at 1,104.86.
In Asia, Nikkei share average inched up to hit a three-month closing high for the second session in a row as risk appetite remained robust and a softer yen provided support to recently battered exporters. The Nikkei ticked up 0.1 percent to 9,171.16. The broader Topix slipped 0.2 percent to 764.66 in thin trade.