Global Market Report - March 12

World equity markets were broadly positive on Tuesday, while the pound surged on hopes of a Brexit breakthrough

James Gard 12 March, 2019 | 10:50AM

Global Market Report

Asia

China’s Shanghai Composite Index continued to consolidate above 3,000 points and even approached 3,100 early in the trading session before fading towards the end.

Hong Kong’s Hang Seng benefited from the global rotation back into technology stocks and closed at 28,920 points.

Japan’s Nikkei was one of the biggest gainers in percentage terms in the region, closing nearly 2% higher on the day.

Europe

The UK’s FTSE 100 bucked the global trend of rising equity prices as the pound surged on what appeared to be a breakthrough in Brexit negotiations – ahead of today’s House of Commons vote.

Sterling was also supported by better-than-expected monthly GDP data for the UK economy.

Still the index was attempting to claw back into positive territory in midmorning trading.

Eurozone indices were modestly higher on Monday’s levels.

North America

US stock futures are higher today as the dollar edges down and global equities give Wall Street a fair wind.

Boeing’s (BA) woes were ultimately shrugged off by the Dow Jones, which closed nearly 1% higher despite a fall at the open.

February inflation data is due today, with a 1.6% increase expected on the year in the Consumer Price Index. Durable goods orders are due on Wednesday.

Oracle (ORCL) and Adobe (ADBE) report later in the week.

 

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About Author

James Gard  is content editor for Morningstar.co.uk

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