Global Market Report - August 29

Chinese shares were weaker again, while US markets are expected to hit new records

James Gard 29 August, 2018 | 10:52AM

Global Market Report


China’s Shanghai Composite Index continued its weaker trend, despite a rise in US markets on Tuesday, and gains in Japan and Hong Kong today. Shenzhen’s index fell further in percentage terms but both indices lost less than 1% on the day. Despite record highs on Wall Street, Chinese investors are still preoccupied with trade – and the change in sentiment away from emerging markets is not helping either.


UK indices drifted lower throughout the morning in the absence of strong drivers from the corporate world or from market-moving economic news. France and Germany managed to hold in positive territory approaching midday. German consumer confidence for September came in a touch lower than the previous month, while French GDP for the second quarter came in as expected at 0.2% quarter on quarter.

On the FTSE 100, distribution firm Bunzl (BNZL) was the best performer after yesterday’s results.

With a dearth of headline-grabbing IPOs this year, the flotation of luxury car brand Aston Martin may just save the day, James Bond-style. The company announced plans to achieve a premium listing on the London Stock Exchange and float at least 25% of its shares. The shares will only be available to retail investors on the secondary market, however. Germany’s Daimler, which owns nearly 5% of the company, will remain a shareholder. As well as outlining its float plans, the company revealed a rise in annual profits and upgraded its production targets to around 14,000 cars a year – compared with over 6,000 cars now.

North America

US economic growth is in focus today with the second reading of second quarter GDP. On an annualised basis, the economy grew by 4.1% in the second quarter. Stock market futures edged up today after a positive close on Tuesday. The S&P 500 and Nasdaq are also poised for new records.

Thursday brings Personal Consumption Expenditure (PCE) numbers for July, while Canadian GDP figures for June are also in view.

Salesforce (CRM) earnings are due today.



The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Bunzl PLC2,039.00 GBX0.54 Inc182.11 USD-1.02

About Author

James Gard  is content editor for

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