Global Market Report - December 5

World stock markets reacted to heavy falls on Wall Street overnight, but losses were more modest in comparison

James Gard 5 December, 2018 | 10:51AM

Global Market Report

Asia

After the heavy losses on Wall Street on Wednesday, a fall on Asia-Pacific exchanges was highly likely. But price falls were relatively modest in comparison, with China’s Shanghai Composite Index down by just over 0.5% to 2,649 points. Hong Kong’s Hang Seng was a bigger faller in percentage terms, shedding 1.6% to 26,819 points. Japan’s Nikkei is now below 22,000 points after a brief flirtation with levels above this; the index is down around 7% this year so far.

Europe

The UK is in the grip of yet more political turmoil. With the vote on the Brexit deal due next week, the Government was judged to have been in contempt of Parliament by not releasing the full text of its legal advice. The pound fell to $1.27 yesterday, but has since staged a minor recovery. A very weak reading of the UK services PMI, which showed the sector only just expanding, also harmed the case for sterling against its rivals – although today’s moves are modest.

Chancellor Philip Hammond is due to give evidence at the Treasury select committee this afternoon, following on the Bank of England’s testimony yesterday.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

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
Rating
Deutsche Bank AG5.81 EUR7.02

About Author

James Gard  is content editor for Morningstar.co.uk

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites