Global Market Report - October 6 2017

The FTSE 100 rose as the pound fell over political uncertainty, while global investors were looking ahead to US job numbers

James Gard 6 October, 2017 | 11:16AM

Asia

Japanese equities gained confidence from yet another record close on Wall Street, with the Nikkei index closing up 60 points at 20,690.71, ahead of a public holiday on Monday. Hong Kong’s Hang Seng index rose again, closing at 28,458.04, up over 10,000 points since the start of 2016 – and within touching distance of 2007’s record high just above 30,000. China’s stock markets re-open on Monday after a week-long break, while South Korea’s Kospi is closed until Tuesday.

Europe

UK equity investors were given a boost by political uncertainty at the end of the week, with a fall in the pound against the dollar helping to push the FTSE 100 above 7,500 for the first time since August. Nevertheless, the gains were made by defensive companies such as Mediclinic (MDC), NMC Healthcare (NMC) and British American Tobacco (BATS). Banks and commodity firms were among Friday’s losers. Halifax figures on the housing market were more upbeat than those published in September by Rightmove. The building society said that the average price of a home had hit a record high.

In more downbeat news for the UK government, Britain’s productivity levels for 2016 were found to be 15% lower than the rest of G7 group of developed countries.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Banco de Sabadell S.A0.27 EUR-9.35
British American Tobacco PLC3,189.50 GBX-2.57
Mediclinic International PLC270.80 GBX-2.03
NMC Health PLC  

About Author

James Gard  is content editor for Morningstar.co.uk

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