Global Market Report - February 7

Markets across the developed world drifted lower today, but Australia was the rare exception as the prospect of an interest rate cut increased

James Gard 7 February, 2019 | 11:03AM

Global Market Report


While China stock exchanges remain closed for the rest of the week, Hong Kong’s Hang Seng will reopen on Friday, although trading volumes are expected to be muted. Japan’s Nikkei weakened on the day, while Australia’s All Ordinaries gains on rising hopes the central bank may be considering a cut in interest rates – after keeping the base rate unchanged for 30 months.


With a weaker close on Wall Street last night, European markets struggled to gain any traction on Thursday. The FTSE 100 was barely in positive territory, while the FTSE 250 and All Share were ower on the day in morning trading. In the Eurozone, German and Spanish benchmarks were off around 0.50% on the day. The European Commission has today cut forecasts for the Eurozone’s major economies, with Italian growth expected to be 0.2% this year, against a previous forecast for a 1.2% expansion.

UK listed travel firms were in focus today. Tui (TUI) shares crashed over 15% today after a profit warning on Wednesday night. Shares rival Thomas Cook Group (TCG) went in the other direction, gaining nearly 12% despite a widening in operating losses in the first quarter. Thomas Cook shares fell 80% last year, so today’s bounce could be seen as a relief rally rather than a sustainable recovery.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Ocado Group PLC2,033.00 GBX1.55
Philip Morris International Inc73.50 USD0.74
TUI AG377.20 GBX3.09

About Author

James Gard  is content editor for

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