GLOBAL MARKETS-Oil falls on supply fears; stocks, euro dip

Fri Apr 21, 2017 3:56pm GMT
 

(Updates prices, changes comment, dateline from previous LONDON)

* U.S. crude dips below $50 a barrel for first time since April 4

* S&P 500 slips, but losses broad

* Euro dips with French election in focus; dollar firms

By Rodrigo Campos

NEW YORK, April 21 (Reuters) - Oil prices fell on Friday as oversupply concerns resurfaced, while the euro and stocks dipped ahead of the first round in a too-close-to-call French presidential election.

Far-right leader Marine Le Pen, an anti-EU politician who wants to ditch the euro and narrowly trails front-runner Emmanuel Macron in French opinion polls, seized on the killing of a policeman by a suspected Islamist militant to push her policies on national security.

"Although Macron has been labeled as favorite to become the next French president, an unexpected Le Pen victory could deal a symbolic blow to the unity of the European Union and ultimately create a tidal wave of risk aversion," FXTM analyst Lukman Otunuga said in a note.

The Dow Jones Industrial Average rose 8.87 points, or 0.04 percent, to 20,587.58, the S&P 500 lost 2.75 points, or 0.12 percent, to 2,353.09 and the Nasdaq Composite added 0.02 points, or 0 percent, to 5,916.80.   Continued...

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UK £ USD =1.2952
Euro USD =1.1395
Rand USD =0.0774