Global Market Report - October 11 2017

Japan's Nikkei index hit a 21-year high on Wednesday, while Spanish shares rallied amid signs of a diplomatic breakthrough in the Catalonia crisis

James Gard 11 October, 2017 | 10:57AM

Asia

Japanese indices continued their march higher on Wednesday, helped by news that one of the prime minister’s biggest rivals in the election, Yuriko Koike, will not be standing against Shinzo Abe. Another positive closed on Wall Street also provided momentum. The country’s Nikkei index closed at its highest level in 21 years at 20,881.27, while the market-capitalisation weighted Topix is at levels last seen just before the financial crisis in 2007-2008.

Chinese economy watchers will be awaiting news of September’s supply of new loans, which are expected to be 1.2 trillion yuan, versus around 1 trillion yuan the month before. China’s CSI 300 closed higher but is still a way of the 2015 highs.

Europe

Spanish stock markets rallied after Catalonia’s president drew back from declaring independence for the region and described constructive dialogue with the central government. The country’s Ibex index was up over 1.5% at 10,299 in midmorning trading. Nevertheless, Catalonia’s leader says the referendum vote for independence is still valid.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Mondi PLC1,408.50 GBX3.34
Procter & Gamble Co131.29 USD0.13
Smith & Nephew PLC1,545.50 GBX1.85

About Author

James Gard  is content editor for Morningstar.co.uk

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