Reuters: US Dollar Report: GLOBAL MARKETS-Europe stocks, Brent halt brisk rally

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GLOBAL MARKETS-Europe stocks, Brent halt brisk rally Apr 3rd 2012, 07:33 Tue Apr 3, 2012 3:33am EDT * European stocks dip in morning trade * Brent slips below $125 a barrel * MSCI Asia ex-Japan up 0.76 pct, Nikkei fall on firmer yen PARIS, April 3 (Reuters) - European shares and Brent crude oil prices dipped in early trade on Tuesday following recent sharp gains, as investors sought further signs of improvement in the global economy before chasing risky assets higher. The FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,083.96 points at 0725 GMT, following a 2.4 percent rise in two sessions. Brent slipped below $125 a barrel, reversing a small portion of Monday's gains made on the back of stronger-than-expected U.S. data and the prospect of tighter crude supplies from the North Sea. "There was some relief from yesterday's U.S. manufacturing data, that the country is still showing signs of growth," Koen De Leus, strategist at KBC Securities in Brussels, said. "But I think the market has come too far too fast and in Europe there are still too many problems, austerity is everywhere and it will be very difficult to get out of the debt spiral." MSCI's broadest index of Asia Pacific shares outside Japan gained 0.75 percent on Tuesday, while Japan's Nikkei share average fell 0.6 percent, although it managed to remain above 10,000, as the yen rose to a three-week high against the dollar, triggering a bout of profit taking on shares of blue-chip exporters. The Australian dollar came under renewed pressure on Tuesday after the country's central bank left the door wide open for a rate cut in May, sparking a rise in bond futures. Link this Share this Digg this Email Reprints

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