Global Market Report - November 22 2017

New records on Wall Street helped give Asian markets a solid headstart on Wednesday, while UK shares were modestly higher ahead of the Chancellor's Budget speech

James Gard 22 November, 2017 | 11:01AM

Asia

Wall Street’s strong performances overnight helped maintain this week’s positive moves in Asian equities. Again, China and Hong Kong were the strongest markets, but Japan’s Topix and Nikkei indices were higher despite a strengthening of the yen against the dollar. Japanese markets are closed on Thursday for Labour Thanksgiving Day. 

Europe

On Budget day, the pound attempted a rally against the dollar but that petered out quickly. Sterling lost ground against the euro, allowing the FTSE 100 to move back tentatively towards the 7,500 resistance level.

Despite unveiling a mixed set of third-quarter results on Tuesday, B&Q owner Kingfisher (KGF) was the biggest riser on the FTSE 100 on Wednesday morning. Yesterday the company said that its Screwfix division was outerperforming, while sales fell at B&Q and stagnated in France.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Kingfisher PLC266.90 GBX-2.23
Salesforce.com Inc195.14 USD1.31
Thomas Cook Group PLC  
TUI AG323.10 GBX-6.27

About Author

James Gard  is content editor for Morningstar.co.uk

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