By continuing to use this site you consent to the use of cookies on your device. Find out more about our cookie policy and the types of cookies we use by clicking here

Global Market Report - September 13 2017

World stock markets lacked strong direction on Wednesday, while a rise in the pound pushed the FTSE 100 lower

James Gard 13 September, 2017 | 11:27AM

Asia

Markets in Japan maintained their winning streak on Wednesday, helped by another move higher on US exchanges overnight, with the Nikkei 225 pushing back to the 20,000 points level last seen in the summer. The Topix and Nikkei indices hit month highs as North Korea fears faded into the background this week.

Across the region the picture was more mixed, with Hong Kong’s Hang Seng closing lower. Hong Kong-listed AAC Technologies (AACAF), a supplier to Apple (AAPL) lost ground despite the excitement over the launch of new iPhone models – as Apple stock itself failed to catch alight on the Nasdaq on Tuesday.

Europe

Gains in sterling helped take the edge of the FTSE 100 index on Wednesday morning, which moved below recent levels of 7,400. Unemployment statistics often have more impact on currency markets than equity markets – news of a 42-year low in jobless numbers was positive for sterling at the expense of listed shares.

EasyJet (EZJ), which has been under pressure after the depreciation of the pound made holidaymaking in Europe less enticing for British tourists, was the biggest riser on Wednesday amid news it is adding long-haul options to its ticket-booking – “Worldwide by EasyJet” was positively received by investors and shares pushed up over 2% at £12.20, but this is below the £15 levels seen before the EU referendum in 2016.

Markets in Germany were broadly unchanged as the country’s election campaign enters its final stages, and France’s CAC was also flat on the day.

North America

The launch of the Apple (AAPL) iPhone X is still fresh in investors’ minds but the impact of on the stock price was less than sensational – after an initial push towards $165 a dollar the price actually ended up lower than the day before.

Among US and Canadian companies, reporting, Canada’s Polymet Mining (POM) is one of the largest by market capitalisation. In the US, weekly mortgage applications and crude inventories are the standout economic numbers. Looking ahead, Thursday brings key US inflation data into focus.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article
Security NamePriceChange (%)Morningstar
Rating
AAC Technologies Holdings Inc18.35 USD-0.27-
Apple Inc158.73 USD0.04
easyJet PLC1,228.00 GBX1.49-
PolyMet Mining Corp0.78 CAD4.00-
About Author

James Gard  is subeditor for Morningstar.co.uk