European markets show resilience despite earlier Asian falls

People and a car are reflected on an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
A man walks past an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
Women walk past an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
People are reflected on an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
A man walks past an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
A man looks at an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)
People walk in front of an electronic stock indicator of a securities firm in Tokyo, Wednesday, March 14, 2018. Asian shares fell Wednesday, taking their cue from a dip on Wall Street after the abrupt departure of U.S. Secretary of State Rex Tillerson. Concern over tariff hikes announced by President Donald Trump was weighing on sentiment. (AP Photo/Shizuo Kambayashi)

LONDON — European stock markets brushed aside an earlier retreat in Asia and traded solidly higher Wednesday as investors moved on from the abrupt decision by U.S. President Donald Trump to sack his Secretary of State Rex Tillerson.

KEEPING SCORE: In Europe, France's CAC 40 advanced 0.4 percent to 5,264 while Germany's DAX rose 0.6 percent to 12,288. The FTSE 100 index of leading British shares was 0.3 percent higher at 7,163. U.S. stocks were poised for a solid opening too with Dow futures and the broader S&P 500 futures up 0.3 percent.

TILLERSON EXIT: On Tuesday, Trump fired Tillerson and picked CIA Director Mike Pompeo, adding to uncertainty over White House diplomacy and deepening disarray in the Trump administration. The upheaval adds to concerns over tensions between the U.S. and North Korea.

ANALYST TAKE: "Musical chairs in Washington fuelled fresh concerns of instability within the Trump administration yesterday, adding to fresh worries about Russia on several fronts," said Mike van Dulken, Head of Research at Accendo Markets. "Investors, however, are demonstrating new-found thickness of skin following several years of geopolitical surprises."

ASIA'S DAY: Japan's benchmark Nikkei 225 lost 0.9 percent to close at 21,777.29. Australia's AS&P/ASX 200 dipped 0.7 percent to 5,935.30. South Korea's Kospi fell 0.3 percent to 2,486.08. Hong Kong's Hang Seng dropped 0.5 percent to 31,435.01, while the Shanghai Composite slipped 0.6 percent to 3,291.38.

ENERGY: Benchmark U.S. crude added 39 cents to $61.10 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, advanced 18 cents to $64.82 per barrel.

CURRENCIES: The euro fell 0.1 percent to $1.2374 while the dollar was steady at 106.55 yen.

People also read these

WhatsApp is going to share your phone number with Facebook

Aug 25, 2016

Global messaging service WhatsApp says it will start sharing users' phone numbers with Facebook, its parent company

Bolivian president, opposition spar over official's killing

Aug 26, 2016

President Evo Morales and his political opponents trade recriminations over the shocking beating death of a high-ranking government official by protesting miners who had blockaded a rural highway

Yellen suggests rate hike is coming but offers no timetable

Aug 26, 2016

Yellen says 'the case for an increase' in rates has strengthened but offers no timetable

Subscribe to our newsletter!

Your Name

Your Email Address