Global Market Report - January 11

Stock market moves were muted at the end of a positive week, with trade optimism well balanced against economic data, dire news from the automotive sector and the looming Brexit vote 

James Gard 11 January, 2019 | 10:55AM

Global Market Report

Asia

China and Hong Kong markets closed the week with a daily gain, with the Shanghai Composite Index and the Hang Seng ending the day up less than 1%. Japan’s Nikkei outperformed these indices in percentage terms, despite an uptick in the yen against the dollar.

Europe

The FTSE 100 has made a positive start to 2019 in the first full trading week of the year. The index is now hovering around the 7,000 points level after a 50 point gain this morning, with housebuilders such as Taylor Wimpey (TW.) and Persimmon (PSN) on the ascendant after the former’s update earlier in the week.

In economic news, UK growth slowed down to 0.3% in the three months to the end of November, according to the Office for National Statistics. But with Jaguar Land Rover cutting thousands of jobs and the Brexit vote looming next week, investors and policymakers have more pressing concerns than GDP figures.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Persimmon PLC2,269.00 GBX-2.49
Taylor Wimpey PLC149.10 GBX-2.17

About Author

James Gard  is content editor for Morningstar.co.uk

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