Global Market Report - November 16 2017

Asian markets rose on Thursday despite Wall Street's weakness, while European indices were higher as the euro lost ground

James Gard 16 November, 2017 | 10:59AM
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Asia

Japan’s Nikkei rebounded from yesterday’s slump by gaining over 300 points to 22,351, with the Topix also rising, despite overnight weakness in US stock markets.

In Hong Kong, technology giant Tencent (00700) reported a near-70% increase in third quarter profit and the company’s share price rose over 2% to 391 Hong Kong dollars. The Hang Seng Index closed above 29,000 points, helped by news of a drop in the jobless rate to a 20-year low, while China’s CSI 300 was nearly 1% higher despite fears over deleveraging in the financial and consumer sectors. 

Europe

In London, the corporate agenda was dominated by news that engineer GKN (GKN) had replaced its chief executive before he has even started the job. Kevin Cummings will now no longer take up the role next month and will leave GKN “with immediate effect”. The company’s shares plunged 8% on the news.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
3i Ord1,315.50 GBX0.80Rating
British Land Co PLC503.40 GBX2.25
Cisco Systems Inc55.21 USD-0.80Rating
Gap Inc22.22 USD-2.30Rating
Tencent Holdings Ltd495.60 HKD2.57Rating
Walmart Inc140.24 USD0.26Rating

About Author

James Gard  is content editor for Morningstar.co.uk