London stocks dip following Manchester attack
London stocks dipped on Tuesday, with sentiment dented by a deadly terror attack in Manchester, while eurozone equities climbed on upbeat data and US stocks continued to rally. The British capital's FTSE 100 index of leading blue-chip companies wobbled between gains and losses during the day, before finally closing down 0.2 percent. "Trading was inevitably overshadowed by last night's terror attack in Manchester," noted Russ Mould, investment director at stockbroker AJ Bell. At least 22 people were killed, including children, in the suicide bomb blast at the end of a concert by US pop star Ariana Grande in Britain's third city of Manchester. Police say they believe Monday night's attack, the deadliest on British soil in 12 years which came two weeks before next month's general election, was carried out by one man who died at the scene. Police on Tuesday named 22-year-old Salman Abedi -- reportedly British-born of Libyan descent -- as the suspect behind the attack, as the Islamic State group claimed responsibility for the carnage. Overall in Europe, markets "appeared relatively calm in the face of a deadly terrorist attack in the UK," said a note from Charles Schwab. But after the US close, Prime Minister Theresa May raised the terror threat level to "critical," the highest level, saying another attack may be imminent. The move activates soldiers to support police in providing security, including at big events like concerts or sporting competitions. In the eurozone, stocks rose on well-received economic numbers, with the Frankfurt DAX index climbing 0.3 percent and the Paris CAC rising 0.5 percent. The eurozone economy grew at its fastest pace in six years in May as job creation in Europe picked up to its highest level in a decade, a closely-watched survey showed. Data monitoring company IHS Markit said its May Composite Purchasing Managers Index came in at 56.8 points in May, unchanged from April which was also the best for six years. - US stocks rise again - US stocks rose for the fourth straight session as the administration of US President Donald Trump released a 2018 budget that seeks a staggering $1.7 trillion in cuts over 10 years to a category of spending that includes key social and "mandatory" programs for lower-income Americans. The S&P 500 finished up 0.2 percent, with large banks including JPMorgan Chase and Citigroup scoring solid gains. "It's perhaps not surprising to see the latest Trump slump become another buy-the-dip opportunity," said market analyst Jasper Lawler at London Capital Group. "The Donald's first budget landing on lawmakers' desks on Tuesday is a reminder that while a special prosecutor is a hindrance to the pro-growth agenda, work is still being done." Markets were hammered in the middle of last week on fears about Trump's economy-boosting agenda, with his presidency engulfed in a crisis over his firing of FBI chief James Comey and allegations he disclosed sensitive intelligence to Russian officials. But the latest gains mean the major US indices are back to near their level prior to the May 17 selloff. Oil prices rose again ahead of Thursday's OPEC meeting. - Key figures around 2100 GMT - New York - Dow: UP 0.2 percent at 20,937.91 (close) New York - S&P 500: UP 0.2 percent at 2,398.42 (close) New York - Nasdaq: UP 0.1 percent at 6,138.71 (close) London - FTSE 100: DOWN 0.2 percent at 7,485.29 points (close) Frankfurt - DAX 30: UP 0.3 percent at 12,659.15 (close) Paris - CAC 40: UP 0.5 percent at 5,348.16 (close) EURO STOXX 50: UP 0.6 percent at 3,597.24 Tokyo - Nikkei 225: DOWN 0.3 percent at 19,613.28 (close) Hong Kong - Hang Seng: UP 0.1 percent at 25,403.15 (close) Shanghai - Composite: DOWN 0.5 percent at 3,061.95 (close) Euro/dollar: DOWN at $1.1181 from $1.1239 Dollar/yen: UP at 111.82 yen from 111.30 yen Pound/dollar: DOWN at $1.2960 from $1.2998 Oil - Brent North Sea: UP 28 cents at $54.15 per barrel Oil - West Texas Intermediate: UP 34 cents at $51.47 per barrel burs-jmb/hs
