Global Market Report - April 12 2019

World mining shares were boosted today by Chinese trade data, while JPMorgan kicks off US earnings season

James Gard 12 April, 2019 | 11:17AM

Global Market Report

Asia

It’s been a mixed week for Asia-Pacific shares with potentially bearish signals emanating on the global economy, particularly from the IMF and the Federal Reserve. Today’s Chinese trade data showed that exports grew much more than expected, gaining 21.3% in March from a year ago, while imports were lower than forecast, down nearly 8% in the year to March. World mining stocks were buoyed by news that China’s iron ore imports rose in March.

China’s Shanghai Composite Index has ended the week lower than at the start, with a loss of around 100 points to 3188. But today’s loss was marginal.

Europe

UK mining companies on the FTSE 100 were boosted by China trade data, with Glencore (GLEN) the biggest riser on Friday morning.

European shares were broadly higher, although Spain’s IBEX was little changed approaching midday. Rumours are circulating that Germany is about to slash its 2019 growth forecast, but the euro seems untroubled by this, gaining against the pound, dollar and yen.

North America

US stock futures are on the up after Chinese data lifted European markets. Dow Jones futures suggest a gain of around 150 points at the open after a tepid week for Wall Street indices.

JPMorgan (JPM) kicks off what could be an anxious earnings season, with Wells Fargo (WFC) also reporting. Shares have rallied since the start of the year but this season’s results have the potential to derail the rally.

The next big event on the week’s economics calendar is Friday’s University of Michigan sentiment index.

 

 

 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Glencore PLC272.05 GBX-0.35
JPMorgan Chase & Co109.82 USD0.26
Wells Fargo & Co45.59 USD0.66

About Author

James Gard  is content editor for Morningstar.co.uk

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