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- Trading day in one post 06.11.2017
Trading day in one post 06.11.2017
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Loading...Asian markets: Most major Asian indexes edged down on Monday as investors digested earnings reports and President Donald Trump's tour of the region got underway. Japan's Nikkei 225 slid 0.11 percent as markets re-opened for trade after a long weekend. Across the Korean Strait, the Kospi came under pressure. The index declined 0.76 percent as a fall in blue-chip tech stocks weighed on the broader market. Down Under, the S&P/ASX was off 0.18 percent, with gains in energy and utilities stocks offset by losses in the heavily-weighted financials sub-index. Hong Kong's Hang Seng Index fell 0.92 percent. Mainland markets fared slightly better and traded mixed: The Shanghai Composite was off 0.13 percent and the Shenzhen Composite reversed early losses to climb 0.258 percent.
Currency market: The yen dropped 0.2% to 114.25 per dollar, paring an earlier decline of more than 0.5% The Aussie dollar traded at 76.56 U.S. cents. The euro was steady at $1.1613. The pound is likely to be driven this week by the state of Brexit negotiations and U.K. politics, after losing support from bets on central bank policy tightening. Sterling could see any slide exacerbated should it drop below $1.30, according to Morgan Stanley, with the resumption of Brexit talks, fallout from a sexual harassment scandal and industrial data to provide direction. The currency has fallen for three weeks on concerns about Brexit and as the Bank of England failed to signal the start of a tightening cycle after raising rates on Thursday. BOE Governor Mark Carney said the next rate shift could depend on the outcome of Brexit. Money markets are now pricing in another 25-basis-point increase in September 2018, from August before Thursday’s decision. That could coincide with any Brexit deal, with the EU’s chief negotiator Michel Barnier wanting it finalized by October next year.
Commodity markets: WTI crude rose 0.2% to $55.77 a barrel. Oil prices touched their highest levels in more than two years as markets kept an eye on the developments in Saudi Arabia. Brent crude was up 0.29 percent at $62.25 a barrel. It jumped 2% on Friday. Following the creation of an anti-corruption committee by current King Salman, security forces Saturday swept up 11 princes, including well-known billionaire invest Prince Alwaleed bin Talal, and four ministers, including the one in charge of the National Guard, according to various reports. A number of former ministers were also arrested. Crown Prince Mohammad Bin Salman — the 32-year-old known as "MBS" who will take over when King Salman, 81, abdicates the throne later this year or early next — is seen by analysts as the man behind those moves in an effort to consolidate power to his family and its allies before he takes the throne. Gold was flat at $1,270.05 an ounce. Iron ore rose 5.2%.
European market: European markets are set for a negative start of the new trading week. German DAX will lose 20 points to 13,460; French CAC shed 11 points at 5,502 and FTSE 100 will open 12 points lower at 7,540. On Friday, stocks managed to close in positive territory, as the pan-European Stoxx 600 closed provisionally higher, up almost 3 percent, with most sectors and major bourses in positive territory.
U.S. stock markets: U.S. equities closed at record highs on Friday on the back of a sharp rally in Apple shares. Qualcomm also jumped as Broadcom considers acquiring the chipmaker. The Nasdaq composite rose 0.7 percent to 6,764.44, an all-time high. Apple shares rose more than 2 percent after the tech giant reported quarterly earnings that blew expectations out of the water. Qualcomm, meanwhile, rose more than 12 percent as Broadcom considers acquiring the chipmaker. The S&P 500 also finished at a record, climbing 0.3 percent to 2,587.84 with the technology sector as the leading advancer. Qualcomm was the best performer on the index. The Dow Jones industrial average rose 22.93 points, notching a record close at 23,539.19, with Apple leading advancers.
Economic calendar for the European and U.S. trading sessions:
09:00 Europe - German Factory Orders
10:00 Europe - ECBs Praet Speaks
11:00 Europe - Services PMI
12:00 Europe - PPI
17:00 Canada - Ivey PMI
19:10 USA - FOMC Member Dudley Speaks
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