Global Market Report - November 28

On an upbeat day for markets so far, US investors are looking ahead to GDP data and a speech from under-fire Federal Reserve chairman Jerome Powell in New York

James Gard 28 November, 2018 | 11:06AM

Global Market Report

Asia

Markets in Asia took encouragement from signs of possible progress in trade talks between the US and China. Hong Kong led the region in percentage terms with a rise of nearly 1.5%, or 350 points to 26,682. Regional shares were boosted by a more conciliatory tone from the US administration than of late. National Economic Council director Larry Kudlow called the upcoming G20 summit an "opportunity to turn a new page" on trade.

Europe

The pound attempted a minor rally against the dollar, but at around $1.276 is still off from the $1.31 level seen at the start of the month. Political events remain fluid: Theresa May is still on tour selling the “certainty and stability” of the recent Brexit deal, with today’s stop being Remain heartland Scotland. Brexit impact assessments are due from the Government, with scenario analysis taking in No Deal, May’s Deal and Remain. The Bank of England also publishes its analysis. Meanwhile, Chancellor Philip Hammond admitted that the UK will be worse off in the event of leaving of the European Union.

The FTSE 100 is currently just in positive territory at 7,021 points but is only fractionally higher on Tuesday’s close and has dipped into the red already this morning.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Apple Inc331.50 USD2.85
Microsoft Corp187.20 USD2.34
Royal Bank of Canada96.80 CAD1.99
Thomas Cook Group PLC  

About Author

James Gard  is content editor for Morningstar.co.uk

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