Global Market Report - January 15

US stock markets are closed for Martin Luther King day but there has been plenty of activity in Asia and Europe to kick off the trading week

James Gard 15 January, 2018 | 11:00AM

Asia

Wall Street’s higher close on Friday gave Asian equity markets the impetus to begin the new trading week higher. Japan’s market-capitalisation-weighted Topix index was the biggest riser in percentage terms, rising around 0.5% to 1,883. The Nikkei index was also higher on Friday’s close, but Hong Kong’s Hang Seng and China’s CSI 300 struggled on Monday as the Chinese yuan rose on a higher currency fixing from the country’s central bank. China releases GDP numbers on Thursday, which are expected to show that the country’s economic output grew 6.8% year on year in the last quarter.

Europe

The UK’s biggest corporate news is that UK construction firm Carillion (CLLN) has filed for compulsory liquidation. The company had been in recent bailout talks with the UK government but on Monday the announcement came that there would be no rescue. Carillion’s share price crashed in the summer of 2017 amid concerns about its long-term future. The company’s listed rivals, such as Serco (SRP) and Balfour Beatty (BBY) gained on the news.

UK inflation figures are released on Tuesday. They are expected to show that consumer price inflation rose 3% in December, lower than the 3.1% seen in November. Bank of England policymakers have been forecasting that the recent rise in inflation is temporary, and the latest data will test this hypothesis.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Balfour Beatty PLC287.60 GBP0.00
Bank of America Corporation34.27 USD0.00
Carillion PLC14.20 GBP0.00
Citigroup Inc77.58 USD0.00
Goldman Sachs Group Inc233.21 USD0.00
Morgan Stanley55.52 USD0.00
Serco Group PLC156.30 GBP0.00

About Author

James Gard  is content editor for Morningstar.co.uk

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