Global Market Report - July 31

Stock markets were mixed on Tuesday as tech stock weakness weighed on sentiment

James Gard 31 July, 2018 | 11:10AM

Global Market Report

Asia

Global tech weakness set the tone for a mixed trading session in the Asia-Pacific region. The Nasdaq was the worst-performing of the US benchmarks and this dragged down Hong Kong’s tech-focused Hang Seng, but losses were around 0.5% on the day. China’s Shanghai Composite Index was modestly higher despite weaker than expected manufacturing data in July as the trade dispute with the United States weighs on activity and sentiment.

Investors hoping that the Bank of Japan would announce any changes to its ultra loose monetary policy were disappointed – although perhaps not surprised. The US dollar gained against the Japanese yen and this helped support the Nikkei and Topix indices in the face of global uncertainty over equities.

Europe

The UK’s FTSE 100 was a touch higher in midmorning trading but gains were held back by another strong performance of the pound ahead of Thursday’s expected interest rate rise. Among the corporate results, shares in BP (BP.) rose modestly after the oil giant more than doubled its profits and raises its dividend for the first time since 2014. The company is rated as a three-star stock by Morningstar analysts, which means that it is fairly valued.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Apple Inc364.11 USD0.00
BP PLC307.55 GBX-1.82
Centrica PLC40.60 GBX0.25
Facebook Inc A233.42 USD-1.74
Just Eat PLC  
Tesla Inc1,208.66 USD7.95

About Author

James Gard  is content editor for Morningstar.co.uk

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