Global Market Report - February 14 2019

European markets and US futures are higher today as trade talks progress, but Asian indices slipped back after China trade data

James Gard 14 February, 2019 | 10:56AM

Global Market Report

Asia

Markets in Asia-Pacific were mixed despite another closing gain on Wall Street, but daily losses in China, Japan and Hong Kong were very modest. More positive noises from the trade talks have helped US and Asia equities this week but China lagged today. The US administration is considering extending the March deadline for new tariffs on Chinese goods by 60 days.

Chinese trade figures dominated the Asia-Pacific economics calendar today. In local currency terms, exports rose much more than expected in January on the year before, gaining nearly 14%, against forecasts for a rise of just under 4%. Imports rose 2.9% last month, compared with expectations of a drop of 1.9%. China’s trade surplus for January was just below $40 billion, compared with $57 billion in December.

Europe

Sterling was slightly weaker against major currencies today and that helped the FTSE 100 push above 7,200 points, regaining levels last seen since early October 2018. Eurozone indices also nudged higher, with France’s CAC 40 the strongest performer in morning trading. Germany’s economy failed to grow in the fourth quarter, while the Eurozone itself managed just 0.2% growth. Spain was the best performer among major economies, rising 0.7% quarter on quarter and 2.4% year on year.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AstraZeneca PLC8,576.00 GBX0.20
Coca-Cola Co48.52 USD-0.37
GlaxoSmithKline PLC1,474.40 GBX1.24
NVIDIA Corp511.99 USD3.66

About Author

James Gard  is content editor for Morningstar.co.uk

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