Global Market Report - October 1

World markets reacted positively to news that NAFTA had been successfully re-negotiated by the US, Canada and Mexico

James Gard 1 October, 2018 | 11:01AM

Global Market Report

Asia

With China and Hong Kong markets closed for public holidays, the attention among Asia-Pacific investors focused on Japan stocks, which hit a 27-year high on the start of the new trading month. The Nikkei 225 rose half a percent to 24,245 points. Japan, along with the United States stock markets, are up in the year to date, while Chinese markets are negative for the year so far.

Europe

The Conservative Party conference starts in earnest on Monday with a speech from Chancellor Philip Hammond. Political infighting between the most senior members of the party is likely to overshadow any significant economic announcements, especially with the Budget looming at the end of the month. Hammond has already criticised former Foreign Secretary Boris Johnson for his “Super Canada” plan for Brexit. UK stock indices are higher as NAFTA optimism buoys world markets – although Brexit negotiations are already proving more intractable than refiguring the trade agreement between the US, Canada and Mexico.

Sterling is slightly firmer today but is still below levels seen at the end of September. The FTSE 100 has managed to hold above 7,500 points, but the gains are more modest than the FTSE 250, which was up nearly 1% in midmorning trading at 20,454 points.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
easyJet PLC664.00 GBX1.72
PepsiCo Inc134.46 USD1.32
Tesla Inc1,544.65 USD10.78

About Author

James Gard  is content editor for Morningstar.co.uk

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