Global Market Report - November 17 2017

Global stock markets were dictated by dollar weakness after overnight US political developments put pressure on President Trump

James Gard 17 November, 2017 | 10:52AM

Asia

The tentative rebound in Japan markets after the selloff earlier in the week was halted by a strengthening yen. Nevertheless, the country’s Nikkei and Topix indices closed a touch higher than on Thursday. Asia-Pacific indices such as Hong Kong’s Hang Seng and China’s CSI 300 rose after Wall Street’s bounceback. Australia’s ASX closed above 6,000 points, close to its post-financial crisis high. 

Europe

The UK’s FTSE 100 was lower on Friday morning around 7,366 points as a spike in the pound against the dollar weakened UK equities. Dollar earners such as miner Anglo American (AAL) and electricity network owner National Grid (NG) were among the biggest fallers.

European exchanges were weighed down by weaker company results and broker downgrades. A spike in the euro overnight against the dollar also hit sentiment. Italy’s FTSE MIB was the worst performer among weaker eurozone indices.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Abercrombie & Fitch Co Class A14.62 USD-0.48
Anglo American PLC1,832.00 GBX-2.11
Gap Inc16.71 USD1.89
National Grid PLC836.40 GBX0.14

About Author

James Gard  is content editor for Morningstar.co.uk

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