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. Last Updated: 07/27/2016

Nervous Start To Week For Euro Bourses

COMBINED REPORTS


Leading European stock markets started the week nervously Monday, concerned about the outlook for Wall Street amid worries over U.S. corporate profits.


The dollar, often a "safe haven" for funds at times of uncertainty, showed little reaction in holiday-thinned trading to more doubts over Russian President Boris Yeltsin's health after he delayed a meeting with U.S. Vice President Al Gore.


With no major domestic news to point the way and, undermined by worries over U.S. corporate earnings, British shares slipped lower.


"We are going to stay pretty quiet until we see if U.S. companies are making the right kind of noises," one London dealer said. "Early signals haven't been brilliant," another added.


In Frankfurt, the bourse fluctuated narrowly up and down in early business.


Polish shares rebounded in higher trade after last week's falls but analysts said they might fall Tuesday as the market might not be strong enough to recover so soon from the downward correction.


Israeli shares plunged by more than 2 percent as Monday's morning declines worsened by early afternoon amid signs of a deepening crisis in the provident funds industry, traders said.


Eyal Kolka, head of the economic division at Sigma Securities, said the situation in the market was one of "hysteria" in light of the crisis with provident funds, a type of trust fund for longterm savings.


? In Asian markets, South Korean stocks slumped to a record low for the year Monday as investors shrugged off a deregulation package and focused instead on a huge overhang of margin loans, brokers said.


On Monday, panic selling was sparked by upcoming margin loan calls. About 140 billion won ($172 million) worth of margin loans must be repaid this week and 560 billion won by the end of July.


In Japan, share prices rebounded in the afternoon Monday after slipping on concerns about a possible interest rate hike in Japan. The U.S. dollar remained higher against the Japanese yen.


In currency trading, the dollar remained higher against the yen, but trading was quiet. The dollar was changing hands at 110.67 yen at mid-afternoon.


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